NEW YORK (AP) — Deere & Co. said Wednesday that it will spend about $100 million to build a new factory in India and expand an existing tractor plant in an effort to keep up with anticipated demand there. John Deere India has been the largest exporter of agricultural machinery from India for the past 5 years.
BOSTON (AP) — Massachusetts expects to recover about $13 million from the abrupt shutdown of a solar panel manufacturer that had received tens of millions in state aid, a top Patrick administration official said Tuesday. Economic Development Secretary Greg Bialecki said the $13 million includes a portion of the grants and benefits the state offered Evergreen Solar to encourage it to build its plant in Devens.
SAN FRANCISCO (AP) — If the past is any indication, Tim Cook's mastery of inventory management and his high expectations of employees should leave Apple Inc. in good hands while its charismatic leader, Steve Jobs, takes a medical leave of absence. Apple said Monday that Cook, the chief operating officer, will take charge of the iPhone and iPad maker as Jobs focuses on his health.
CHICAGO (AP) — Boeing Co. is pushing back the delivery date for its new 787 until at least July. The jet has been delayed several times already. Its most recent delivery target was for next month. But an electrical fire on a test plane in November put a halt to flight testing. Another delay has been widely expected ever since the fire.
WASHINGTON (AP) — Taking another step toward mending his relationship with the business community, President Barack Obama will order a review of federal regulations with an eye toward getting rid of those that stifle job creation and hurt economic growth The president planned to sign an executive order Tuesday telling federal agencies to look for rules that place an unreasonable burden on businesses.
WASHINGTON (AP) — U.S. companies have long demanded that China let its currency rise to make U.S. exports cheaper. But as President Hu Jintao visits Washington this week, U.S. companies are stressing other goals: Stopping the theft of intellectual property. And getting a fair chance to win government contracts.
BERLIN (AP) — A German company involved in the building of European navigation system Galileo says it has removed its chief executive after he was quoted in a cable obtained by WikiLeaks as describing the project to a U.S. official as "a stupid idea." OHB-System AG said late Monday that the supervisory board decided to revoke Berry Smutny's appointment as CEO.
WASHINGTON (AP) — The future of the United Auto Workers union is directly tied to its ability to sign up workers at U.S. plants owned by foreign-based car companies, the union's leader said Monday. In a speech to union members, UAW President Bob King laid out in stark terms the importance of the union's work to organize a plant owned by a Japanese, South Korean or German competitor to the Detroit Three.
BEIJING (AP) — In late 2009, President Barack Obama and his Chinese counterpart Hu Jintao announced an ambitious array of joint clean energy research projects touted as a mark of a maturing relationship and an alliance to fight climate change. A year after Obama's visit to China, the envisioned partnership has largely evaporated.
NEW YORK (AP) — General Motors is expanding an earlier recall of some 2011 model-year trucks and SUVs to fix a problem that could cause the vehicles' rear axles to lock. The recall, originally announced in December, now covers 26,751 Cadillac, Chevrolet and GMC trucks and SUVs. The models affected are: Cadillac Escalade, Escalade ESV, Cadillac EXT, Chevrolet Avalanche, Colorado, Silverado, Suburban, Tahoe; and GMC Canyon, Sierra, Yukon and Yukon XL.
The compensation for Deere & Co.'s CEO nearly tripled in 2010 as Samuel Allen completed his first full year in the top job at the world's largest maker of agricultural equipment, but Allen's $12.3 million compensation remains less than his predecessor received in 2009. Predecessor Robert Lane received compensation worth $14 million in his last year leading the company.
GREENVILLE, S.C. (AP) — Forty-five-year-old J.P. Stathakis never thought he'd find himself in the legion of the unemployed, but there he was, a graduate of The Citadel, sucked under in the recession's tidal wave in 2009. Now he is thankful for his job on the maintenance crew at Borg Warner in Seneca, where he operates a forklift, among other duties.
TOKYO (AP) — Toyota Motor Corp., maker of the popular Prius hybrid car, is developing a new type of electric motor to cut its dependence on rare earth metals and lower costs, a company spokesman said Monday. The new technology will help free the world's No. 1 automaker from relying on China, which produces 97 percent of the global output of rare earths needed for many high-tech products, including the current generation of hybrid gasoline-electric motors.
FORT WASHINGTON, Pa (AP) — Johnson & Johnson said Friday it is recalling nearly 47 million packages of Tylenol, Sudafed and other nonprescription drugs manufactured at a Pennsylvania facility that has already been subject to a series of massive recalls, battering the company's household brand.
SAN FRANCISCO (AP) — Sales of server chips saved Intel Corp.'s fourth quarter, as net income jumped 48 percent mainly on strong demand from corporations. Yet the sour economy and the rise of smaller and sleeker gadgets such as the iPad have hurt consumers' appetite for new PCs, depressing that part of Intel's business.
PITTSBURGH (AP) — Federal officials have fined U.S. Steel and a subcontractor a total of $175,000 for safety violations found after a coke plant explosion injured at least 15 workers. The Occupational Safety and Health Administration announced Thursday it cited the companies following a probe of the July 14 explosion at the Clairton Coke Works near Pittsburgh.
WASHINGTON (AP) — Industrial production rose in December by the largest amount in five months, providing the economy with solid momentum heading into the new year. Activity at the nation's factories, mines and utilities increased 0.8 percent last month, the Federal Reserve said Friday. Industrial production was up in every month but one in 2010.
PARIS (AP) — Renault said Thursday it has filed a criminal complaint in connection with a suspected case of industrial espionage at the French car maker that has rocked France's industrial sector. The complaint "against persons unknown" follows Renault's discovery of "serious misconduct detrimental to the company" and in particular to its "strategic, technological and intellectual assets," the car maker said in a statement.
WASHINGTON (AP) — The U.S. trade deficit edged down to the lowest point in 10 months as exports, helped by a weaker dollar and rising foreign demand, climbed to the highest level in more than two years. The trade deficit narrowed to $38.3 billion in November, down 0.3 percent from October's revised $38.
DETROIT (AP) — Ford Motor Co. will give bonuses but not pay raises to its U.S. and Canadian white-collar workers as the company tries to keep its costs down to stay competitive with other global automakers. Spokeswoman Marcey Evans said Ford surveyed 21 peer companies, including General Motors and Chrysler, and determined that its salaries are competitive.