A deal to establish a joint venture with state corporation Rostec could lead to some 100 turboprops, valued at US$3.4 billion at list prices, being built for the Russian market. The deal, which local media in Russia says will see production start this year, flows from a series of preliminary agreements signed last August.
The layoffs, which cut 2 percent of the membership club's U.S. employee count of about 116,000, mark the largest since 2010 when the Sam's Club unit laid off 10,000 workers as it moved to outsource food demonstrations at its stores.
U.S. safety regulators are investigating complaints that power-assisted brakes can fail at times in Camry gas-electric hybrids. The probe covers about 30,000 of the midsize cars from the 2007 and 2008 model years.
Organizers announced Sunday that attendance was more than 803,000; the last time the show broke 800,000 was in 2003, when it was more than 838,000. NAIAS Chairman Bob Shuman said in a statement that this year's event "was a special show, and everyone knew it."
Ford Motor Co, which exports its Figo small car and EcoSport compact sport-utility vehicle from India, plans to source a new generation of small-capacity petrol engines, called Dragon, from its local unit.
Yesterday, Doug Oberhelman, chairman and CEO of Caterpillar Inc., and Jay Timmons, president and CEO of the National Association of Manufacturers, penned an open letter to President Barack Obama calling for more leadership on creating an environment in which manufacturers can grow once more to create jobs and generate a stronger economy.
Chrysler, of Auburn Hills, Mich., logged its ninth straight profitable quarter in the third quarter of 2013, earning $464 million and propping up Fiat, which is struggling in a down European market. Without Chrysler, Fiat would have lost $340 million in that quarter; instead it earned $260 million.
New General Motors chief Mary Barra is stressing the company's support for its struggling Adam Opel AG subsidiary in Europe, saying Opel workers will get the job of building a new vehicle at the company's main plant in Germany.
A Virginia-based aerospace products supplier has won a Boeing contract to build substructural composite components for the 787 Dreamliner assembled in North Charleston as the airplane builder ramps up its production rates.
Samsung Electronics Co. has signed an agreement with Google Inc. to cross-license their patents, reducing the risk of costly legal disputes over intellectual property and likely fostering greater collaborate between the two tech giants.
The Arkansas Pollution Control and Ecology Commission lifted a stay on an air permit for the $1.1 billion Big River Steel plant near Osceola. The stay was imposed when rival steel-maker Nucor Corp. objected to the issuance of an air permit last year by the state Department of Environmental Quality.
In the interview aired Sunday night on German public television broadcaster ARD, Snowden said if German engineering company Siemens had information that would benefit the U.S., but had nothing to do with national security needs, the National Security Agency would still use it.
The largest loan is for $2 million to build a manufacturing plant in New Tazewell. According to the USDA, the pass-through loan will go through the Powell Valley Electric Cooperative to Homesteader, Inc., a trailer manufacturer.
Tennessee Economic and Community Development Commissioner Bill Hagerty says the company will invest $25 million in manufacturing equipment and building and infrastructure improvements in Morristown.
"It's the baddest truck I've ever seen," college student London Muse said Thursday while admiring the Tuscany Black Ops edition, a Ford F-150 customized by a Fort Worth company to give the truck a total sticker price of $68,542.
The downturn began Thursday following signs that manufacturing was contracting in China, a major importer of raw materials and a key driver of global economic growth. The values of currencies in several emerging markets have dropped.
British Prime Minister David Cameron says efforts to eradicate poverty must go hand-in-hand with curbing global warming. The comments came Friday at an Associated Press debate looking ahead to the expiration of the United Nations' "millennium goals."
Yokogawa Corporation of America, a manufacturer of equipment measurement, control, and automation, has announced the opening on its new facility in Newnan, Ga., which was built in response to increased demand for its products and service offerings.
Florida Gov. Rick Scott is calling for spending $30 million a year on new job training programs. Scott on Thursday announced the initiative during a stop at a convenience food manufacturer. The programs will be focused on fields in science, technology, engineering and math and high-demand areas.
In a turnabout, there are now slightly more union members working for private firms than in government, the Bureau of Labor Statistics reported Friday. That reverses a five-year trend. Although the rate of membership among all workers didn't budge, the overall number of union members grew slightly, rising about 162,000 to nearly 14.5 million.