DETROIT (AP) — The 2011 Chevrolet Volt got another marketing jolt Monday, when it received the North American Car of the Year. The car that runs on electricity for 40 miles before a backup gas engine kicks in beat out the Nissan Leaf, another electric, and Hyundai Sonata in the annual ceremony on the first day of media previews for the Detroit auto show.
DEARBORN, Michigan (AP) — In every boom cycle of its 107-year life, Ford Motor Co. became complacent, unprepared for the inevitable bust in the auto business. From the 1920s, when Ford lost its dominant position in the U.S. because it was slow to update the Model T, to the 2000s, when it squandered billions in SUV profits and narrowly avoided bankruptcy, the company stuck with some strategies too long and didn't pay enough attention to others.
NEW YORK (AP) — Apple Inc. CEO Steve Jobs' compensation package remained the usual $1 in fiscal 2010, but the value of the shares he owns has skyrocketed amid the company's ongoing success with introducing shiny new gadgets many people come to find indispensible. Apple said in a filing with the Securities and Exchange Commission on Friday it paid a salary of $1 to Jobs, who rejoined the company in 1997 and has overseen the company's explosive growth following the launch of the iPod, the iPhone and now the iPad.
SEATTLE (AP) — Instead of unveiling an elegant response to the iPad, Microsoft came to the tech industry's premier gadget show with a collection of exposed computer guts. Microsoft's biggest news was that the next version of Windows would run on the style of mobile phone chips that power the iPad and other tablets today.
BEIJING (AP) — A chemical leak has sickened 62 workers at a pharmaceutical factory in eastern China. The official Xinhua News Agency reported that 37 of them were still in a hospital Friday after inhaling fumes at work Thursday. The cause of the leak was under investigation. Xinhua said the leaked chemical was phosgene, commonly used to produce pesticides, painkillers and antibiotics.
LITTLE ROCK, Ark. (AP) — Former Tyson Foods Inc. chief executive Donald J. Tyson, who led his family's poultry company from being a regional producer to dominance in the industry while instilling a corporate culture that mixed hard work and enjoyment, died Thursday. He was 80. Company spokesman Gary Mickelson said Tyson died from complications from cancer, and passed away at home with his family.
RICHMOND, Va. (AP) — Truckloads of Four Loko and other alcohol-laced energy drinks are being recycled into ethanol and other products after federal authorities told manufacturers the beverages were dangerous and caused users to become "wide-awake drunk." Wholesalers from Virginia, North Carolina, Maryland and other East Coast states started sending cases of the high-alcohol, caffeinated malt beverages to MXI Environmental Services in Virginia after the U.
WASHINGTON (AP) — The nation's unemployment rate dropped to 9.4 percent last month, its lowest level in 19 months. That was because more people found jobs, but also because some people gave up on their job searches. The Labor Department says employers added 103,000 jobs in December, an improvement from November but far below most analysts' expectations.
General Motors said Thursday that it has licensed technology from a government laboratory that promises to improve battery performance in its Volt electric car by 50 percent to 100 percent. GM and LG Chem have agreed to license the technology, which consists of a mix of materials, from the Argonne National Laboratory.
LAS VEGAS (AP) — Taiwan's AsusTek Computer Inc. plans to start selling an array of tablet computers — including hybrids that sit somewhere between a laptop and a tablet — with the hope that variety is the best weapon against Apple Inc.'s iPad and other similar gadgets. Asus chairman Jonney Shih unveiled the new devices Tuesday ahead of the International Consumer Electronics Show in Las Vegas.
SUMTER, S.C. (AP) — A Chinese candy maker is building a new $6 million factory in Sumter. Officials for Au'Some says they hope to hire 120 workers over the next five years. The Hong Kong company makes candy for retailers like Walmart, Target, Walgreens and CVS. The Sumter factory is Au'Some's first facility in North America, and the company wants to have it open by the end of the summer.
Ford Motor Co. saw the biggest percentage point gain in U.S. market share in 2010, while Toyota Motor Co. saw the biggest loss. These are the 10 largest car companies by U.S. sales and their share gains or losses in 2010. A percentage point of share equaled about 115,800 cars and trucks in 2010. Company Total 2010 sales 2010 U.
SAN FRANCISCO (AP) — Semiconductor companies are whipping up a new generation of chips to bring richer video and better battery life to personal computers and help them hold off threats from tablets and increasingly powerful smart phones. Intel Corp. and Advanced Micro Devices Inc., whose processors are the "brains" of PCs, are unveiling significant changes to their chips' designs at this week's International Consumer Electronics Show in Las Vegas.
WASHINGTON (AP) — The government says car companies paid $9.1 million in fines last year for failing to comply with federal fuel efficiency requirements. Six companies had to pay fines to the National Highway Traffic Safety Administration. Jaguar-Land Rover paid the largest fine of $3.2 million.
NEW YORK (AP) — A surprising jump in hiring is swaying U.S. stock and bond markets. An early decline in stock index futures was trimmed after payroll processor ADP reported employers added 297,000 jobs last month. The jump in payrolls from the ADP survey came in far above the 100,000 rise economists expected.
SEOUL, South Korea (AP) — Samsung Group said Wednesday it plans to carry out record investment and hiring this year as it seeks to extend global dominance in products including flat screen televisions and memory chips. South Korea's top business conglomerate is spearheaded by Samsung Electronics Co.
DETROIT (AP) — A surge in car and truck buying that began in October is expected to lift last year's U.S. auto sales above a dismal 2009. Customers gained confidence in the economy, loans were easier to get and deals got sweeter. Ford, General Motors, Toyota and other car companies will report 2010 and December sales throughout the day on Tuesday.
WASHINGTON (AP) — Orders to U.S. factories are expected to strengthen in November outside of transportation in a further sign that manufacturers will be cranking up production in anticipation of greater spending by businesses and consumers in 2011. Economists at JPMorgan Chase are forecasting that factory orders will post a 0.
WASHINGTON (AP) — A U.S. Senator is asking the Federal Trade Commission to investigate "misleading safety claims and deceptive practices" in the selling of new football helmets and reconditioning of used ones. In a letter dated Tuesday — a copy of which was obtained by The Associated Press on Monday night — Sen.
LOS ANGELES (AP) — Seven insurance companies have sued Toyota Motor Corp. in an attempt to recover money paid to cover crashes they blame on sudden acceleration. The insurers cite data that blames 725 crashes on the problem and fault the Japanese automaker for failing to equip its cars with an override system that would cause a car to idle if the brake and gas were deployed simultaneously.