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China Set To Begin Rio Tinto Bribery Trials
March 17, 2010 4:47 am | by Elaine Kurtenbach, AP Business Writer | CommentsSHANGHAI (AP) — A Shanghai court will Monday begin hearing China's case against four employees of mining giant Rio Tinto, including one Australian, on charges of stealing commercial secrets and bribe-taking. Stern Hu, the Australian national, will be among the four defendants appearing at the Shanghai No.
BP PLC Saved From $100 Million Lawsuit
March 17, 2010 4:43 am | CommentsHOUSTON (AP) — A $100 million jury award against BP PLC over a 2007 refinery leak at its Texas City plant has been rejected. A federal judge in Houston on Tuesday set aside the punitive judgment of $10 million apiece for 10 contract workers who said they were injured. U.S. District Judge Kenneth M.
BP Saved From $100 Million Lawsuit
March 17, 2010 4:43 am | CommentsHOUSTON (AP) — A $100 million jury award against BP PLC over a 2007 refinery leak at its Texas City plant has been rejected. A federal judge in Houston on Tuesday set aside the punitive judgment of $10 million apiece for 10 contract workers who said they were injured. U.S. District Judge Kenneth M.
N.C. Has 'Clear' Vision Of Automotive's Electric Future
March 17, 2010 4:35 am | by Daniel Jackson, AP Writer | CommentsGASTONIA, N.C. (AP) — Forty miles ... 100 miles ... 200 miles ... A new generation of fully electric vehicles claims the ability to cover that much ground on a single charge, which would easily get most Americans to work and back without having to plug in. But so far, the batteries powering EVs haven't gone the distance at a cost that most U.
Biofuels To Power Airlines Within A Decade
March 17, 2010 4:30 am | CommentsAMSTERDAM (AP) — Aviation experts say recent test flights have proved the viability of plant-based fuels for jet aircraft and that they may largely power airline traffic within a decade. They say the focus now is on finding plants that can be used without taking land from food crops or causing deforestation.
CAT Adding 500 Jobs To S.C. Generator Plant
March 17, 2010 4:25 am | CommentsCOLUMBIA, S.C. (AP) — A diesel generator plant in South Carolina plans to add up to 500 jobs in the next four years. The State newspaper reported Caterpillar plans to more than triple employment at its plant in Newberry. Caterpillar spokesman Jim Dugan says the company has 190 workers now.
Analysts Weigh In On Cost Of Toyota's Recall Fiasco
March 16, 2010 9:33 am | by Tomoko A. Hosaka, Associated Press Writer | CommentsTOKYO (AP) — A massive global recall, mounting legal bills and a battered reputation add up to a very expensive problem for Toyota. How expensive? Depends who you ask. With new developments emerging almost daily, predicting a final pricetag for the Japanese automaker is a daunting calculation that only some analysts have attempted.
Unions Bash Kraft CEO On Cadbury Takeover
March 16, 2010 9:32 am | by Jane Wardell, AP Business Writer | CommentsLONDON (AP) — British union leaders and lawmakers lashed out at Kraft Inc. Chief Executive Irene Rosenfeld for failing to appear before an inquiry on the U.S. company's takeover of British confectioner Cadbury on Tuesday. The Unite union also criticized Rosenfeld for failing to meet directly with workers at Cadbury sites across the country to reassure them about the company's plans after it backtracked on a promise to keep open a local factory.
US Steel CEO Takes 83 Percent Salary Cut
March 16, 2010 9:31 am | by Sandy Shore, AP Business Writer | CommentsDENVER (AP) — United States Steel Corp. CEO John Surma's compensation package plummeted more than 83 percent last year as he took a salary cut and refused stock awards. The reduction came in a year the company struggled with withering demand for steel. Surma, who also is board chairman, received total compensation of $1.
AK Steel Sues Ex-Workers For Stealing Trade Secrets
March 16, 2010 9:30 am | CommentsWEST CHESTER, Ohio (AP) — AK Steel Holding Corp. has filed a lawsuit alleging three ex-employees of its Rockport, Ind., plant stole company trade secrets. The lawsuit filed March 11 says Donald Earley resigned as a senior process engineer last year and accepted a job with ThyssenKrupp Steel USA.
We Applies For $255 Million Wis. Biomass Plant
March 16, 2010 9:30 am | CommentsWAUSAU, Wis. (AP) — We Energies has filed for regulatory permission to build a $255 million biomass power plant near Wausau. In its application to the state Public Service Commission, the utility says the plant would supply steam to Domtar's paper mill in Rothschild and create up to 150 jobs.
Judge Overturns Suit Against Ford For Sudden Acceleration
March 16, 2010 9:29 am | by Meg Kinnard, Associated Press Writer | CommentsCOLUMBIA, S.C. (AP) — South Carolina's highest court on Monday overturned an $18 million verdict againstFord Motor Co. in a fatal crash, ruling that one expert shouldn't have been allowed to testify about cruise control problems. Sonya Watson, 17, was paralyzed after losing control of her Ford Explorer in December 1999.
Toyota, UAW Reach Tentative NUMMI Closure Agreement
March 15, 2010 11:25 am | CommentsFREMONT, Calif. (AP) — The United Auto Workers union has reached a tentative agreement to shut down California's sole remaining auto plant which employs 4,600 people. The terms weren't disclosed Monday but will include payouts for workers at the Fremont-based Nummi plantwhich is slated to close on April 1.
Industrial Prodcution Edges Up, Manufacturing Slips
March 15, 2010 5:02 am | by Daniel Wagner, AP Business Writer | CommentsWASHINGTON (AP) — Industrial production edged up 0.1 percent in February, beating expectations and marking the eighth straight monthly increase. But the key manufacturing sector produced less —for months a rare bright spot — produced less, muting hopes for a speedy recovery.
Lawmakers Bash China Ahead Of Election Day
March 15, 2010 4:58 am | by Foster Klug, Associated Press Writer | CommentsWASHINGTON (AP) — China is once again the country Congress loves to hate. After a lull last year, U.S. politicians jockeying ahead of crucial November elections have stepped up attacks on China as a way to win support from voters worried that the Asian power is taking American jobs. China-bashing eased during President Barack Obama's first year in office, partly as a nod to the administration's attempts to get Chinese help settling nuclear standoffs with North Korea and Iran, and on important environmental and economic initiatives.
