HELSINKI (AP) — Nokia Corp. on Tuesday warned its second-quarter sales and margins will be much lower than expected as rivals challenge the world's largest handset maker in both smartphones and low-end devices. The announcement sent Nokia shares down more than 17 percent to a 13-year low of euro4.
WASHINGTON (AP) — President Barack Obama has chosen businessman John Bryson to lead the Commerce Department, bringing another private sector player into an administration that has been making a concerted effort to improve its relationship with the business community. Bryson, 67, is a former chairman and chief executive officer of Edison International, a California-based energy company.
SHANGHAI (AP) — China has detained 74 people and suspended production at hundreds of battery factories in a widening crackdown on heavy metals pollution after dozens of people were sickened by lead and cadmium poisoning. The government in eastern China's Zhejiang province said Monday that some of the people were detained in connection with pollution that sickened 172 people, including 53 children, near a battery factory in the city of Taizhou.
TOKYO (AP) — Japan's unemployment rate in April rose for the first time in six months, while the nation's industrial production rebounded weakly from a record drop following March's earthquake and tsunami. But output was seen picking up strongly in May and June as automakers and other manufacturers get back on line.
TOKYO (AP) — Two workers at Japan's crippled nuclear plant might have exceeded a radiation exposure limit amid concerns about the risks the workers face struggling to contain the crisis. The two control room operators are being tested further and don't have immediate health problems, Tokyo Electric Power Co.
HELSINKI (AP) — Nokia Corp. says its second-quarter and full year earnings will be worse than earlier expected because of tough competition, especially in the smartphone market. The world's largest mobile phone maker says its second-quarter result will be "substantially below its previously expected range of euro6.
SPRINGFIELD, Ill. (AP) — A proposal to end workers' compensation in Illinois moved a step closer to reality when it was approved by a state Senate committee. The legislation now goes to the Senate floor. Approval there would put abolition on the governor's desk. The Senate Executive Committee split along party lines in the 9-6 vote.
GREENSBURG, Ind. (AP) — Honda says it will add 1,000 jobs at its southeastern Indiana plant by the end of the year as it adds a second shift. Greensburg plant spokeswoman Anita Sipes said Tuesday that the additional shift will double its workforce. Sipes says the second shift has been planned since the factory opened in 2008 but the recession put those plans on hold.
CONYERS, Ga. (AP) — An Illinois-based manufacturer says it will establish a corrugated cardboard sheet-feeder plant in Conyers, bringing 50 jobs to the area. Corrugated Supplies Co. announced Thursday it will put the plant in the former Solo Cup distribution center. The company says plant operations are expected to begin in September.
LONDON (AP) — Sugar and sweeteners company Tate & Lyle PLC says it plans to reopen a mothballed U.S.plant to meet surging demand for sweeteners after reporting a strong rise in full-year earnings. The London-based company on Friday reported net earnings of 163 million pounds ($268 million), up from 15 million pounds a year ago.
WASHINGTON (AP) — The economy hit a soft patch in the first three months of this year, caused by a big jump in oil prices, and the impact of those higher prices are likely to weigh on growth for the rest of the year. After growing at an annual rate of 3.1 percent in the final three months of last year, the economy slowed to just 1.
CANTON, Ohio (AP) — Timken Co. is buying Philadelphia Gear Corp. for $200 million in order to expand its offerings, the auto parts supplier said Friday. Philadelphia Gear, based in King of Prussia, Pa., provides gear drives and components to the industrial and military sectors. Timken makes bearings, assemblies and alloy steels for auto producers and othermanufacturers.
DETROIT (AP) — U.S. auto safety regulators are investigating brake problems with the Nissan Altima and complaints of air bag troubles with the Jeep Wrangler. The National Highway Traffic Safety Administration said on its website Friday that brake fluid can leak on the Altima midsize car, causing a loss of stopping power.
GALLATIN, Tenn. (AP) — Three workers have been critically injured in an explosion at a Middle Tennessee chemical plant where a January flash fire killed another worker. Gallatin Police said the accident that injured five at the Hoeganaes (HAY'-gan-eez) Corp. plant was reported at 6:37 a.m.
SALT LAKE CITY (AP) — A foodservice packaging manufacturer has announced plans to invest in a new multimillion-dollar plant in southern Utah. Genpak says it will expand its operations with a new $22 million plant in Cedar City that will add 125 new jobs over the next five years to the company that already employs nearly 200 people in southern Utah.
BELVIDERE, Ill. (AP) — A supplier for Chrysler plans to open a new facility in northern Illinois, bringing 200 jobs to Belvidere. The Rockford Register Star reports Thursday that International Automotive Components will open a 172,000-square foot assembly plant in Belvidere. The company supplies vehicle interiors for the automaker Chrysler Group LLC.
TOKYO (AP) — Japanese automakers' global vehicle production plunged in April, especially in Japan where supplier plants were destroyed by the March 11 earthquake and tsunami. Toyota Motor Corp. reported Friday that Japan production in April fell 74.5 percent to 79,341 vehicles while its global production declined 48 percent to 346,297 vehicles.
WASHINGTON (AP) — Eight manufacturers have voluntarily recalled about one million pool and in-ground spa drain covers because of incorrect water flow ratings. The U.S. Product Safety Commission announced the recall Thursday. The agency says the recalled covers could pose a possible entrapment hazard to swimmers and bathers.
WASHINGTON (AP) — From the United States to Europe and even to booming China, the global economy is showing signs of strain. Most major economies are expected to keep growing. But evidence is mounting that many around the world are struggling to expand as fast as they did last year. European governments are struggling with debts and squeezed budgets.
STOCKHOLM (AP) — Spyker Cars NV's cash-strapped Swedish unit Saab Automobile on Friday resumed car production after a near seven-week standstill caused largely by payment problems to its suppliers. The long-awaited resumption came after Chinese group Pang Da last week agreed to buy a 24 percent stake in Spyker for €65 million ($92 million).