by Yuri Kageyama, AP Business Writer TOKYO (AP) — Toyota's president said it was "extremely regrettable" an American family died in a crash in which a floor mat in one of the Japanese automaker's vehicles is suspected as the cause. "Four precious lives have been lost," Toyota Motor Corp.
TOKYO (AP) — Hyundai Motor Co. — not the up-and-coming Chinese, nor the leaner meaner Americans — is the automaker that has the Japanese seriously worried. Talk to any Japanese auto executive, and the official is likely to say the South Korean automaker is rapidly emerging as the most feared competitor to Japan's world-leading car companies.
SAN JOSE, Calif. (AP) — Global sales of semiconductors fell 16 percent in August to $19.1 billion compared to a year ago, according to an industry report Friday. But chip sales rose by 5 percent from the previous month, with strength in all geographic regions, the Semiconductor Industry Association said.
WASHINGTON (AP) — A Senate Republican who backs Northrop Grumman Corp.'s bid for a disputed $35 billion Air Force tanker contract wants to withhold funding until the service resolves a company gripe with the competition. Sen. Jeff Sessions of Alabama filed an amendment Thursday that would require the Air Force to release pricing information of previous bids from both Northrop and its partner, Airbus parent European Aeronautic Defense and Space Co.
WASHINGTON (AP) — While ceding some ground to President Obama on high-profile weapons cuts, lawmakers are cutting money for training and spare parts to pay for other weapons Obama doesn't want and their own pet projects. The push-and-pull is playing out within a massive, $626 billion funding bill for the Pentagon that is being debated on the Senate floor.
KUALA LUMPUR, Malaysia (AP) — The chairman of Wal-Mart Stores Inc. warned Wednesday the global economic recovery will likely be lethargic, even as the retailing behemoth sees great growth potential in China and India. "The world recovery is going to be led by Asia although it's going to be very challenging.
BEIJING (AP) — China announced sweeping curbs on surging investment in steelmaking, cement and other industries, warning that chaotic overexpansion was raising the danger of job losses and trouble for banks. Business groups and economists have warned that Beijing's huge stimulus might fuel a dangerous boom and bust.
WASHINGTON (AP) — Toyota Motor Corp. said Tuesday it will recall 3.8 million vehicles in the United States, the company's largest-ever U.S. recall, to address problems with a removable floor mat that could cause accelerators to get stuck and lead to a crash. The recall will involve popular models such as the Toyota Camry, the top-selling passenger car in America, and the Toyota Prius, the best-selling gas-electric hybrid.
LONDON (AP) — British defense contractor BAE Systems PLC faces a midnight deadline set by the Serious Fraud Office to agree to a settlement or potentially be prosecuted for alleged bribery, The Guardian newspaper reported Wednesday. The Serious Fraud Office declined to discuss the matter.
OSHKOSH, Wis. (AP) — The defense division of Oshkosh Corp. has signed a roughly $800 million deal with the Pentagon to deliver nearly 2,500 new and rebuilt military vehicles. Oshkosh Defense said Tuesday it will provide more than 1,450 new trucks and trailers. It will also deliver more than 1,000 tactical trucks that have been restored to like-new condition after being damaged in warfare.
WASHINGTON (AP) — The Pentagon has given Boeing Co. an "unfair" advantage in the latest competition for a troubled $35 billion tanker contract, a Northrop Grumman Corp. executive said Tuesday. The Pentagon shared Northrop's pricing data from its previous bid with Chicago-based Boeing, but did not reveal Boeing's cost estimates to Northrop.
TORRENCE, Calif., Sept. 29 /PRNewswire/ — Toyota Motor Sales, USA, Inc. takes public safety very seriously. It believes its vehicles to be among the safest on the road today. Recent events have prompted Toyota to take a closer look at the potential for an accelerator pedal to get stuck in the full open position due to an unsecured or incompatible driver's floor mat.
Muskegon, Michigan — Reid Supply Company, a Michigan-based, premier global distributor of industrial supplies , added over 20,000 new apparel and footwear products to its online offerings at ReidSupply.com. “We are very excited to add the new apparel and footwear category to our industrial product offerings”, says John Carrier, President of Reid Supply Company.
NASHVILLE, Tenn. (AP) — Peterbilt Corp. is permanently closing its truck plant in Nashville. The Tennessean quoted plant manager Larry Vessels who said the decision means the loss of about 390 jobs at the idled plant. Peterbilt manufactures over-the-road commercial trucks and said it will consolidate work at its plant in Denton, Texas.
BUENOS AIRES, Argentina (AP) -- An effort by Kraft Foods Inc. to end a labor dispute at its Argentina factory has ignited a larger dispute between leftist groups and the government, as several thousand people marched to the presidential palace late Monday in solidarity with fired workers. Kraft spokesman Pedro Lopez Matheu said the plant in suburban Buenos Aires reopened Monday after police enforcing a court order evicted fired employees who had occupied the factory 40 days ago.
SHANGHAI (AP) — China's Commerce Ministry has given a conditional green light for General Motors Co.'s plan to acquire portions of auto parts maker Delphi Corp. Among other things, the ministry banned GM and Delphi from exchanging trade secrets about Delphi's other customers. Delphi is required to ensure it supplies parts to other automakers in a timely, reasonably priced and fair way, the ministry said in a statement issued Monday.
OLYMPIA, Wash. (AP) — Washington's governor is stepping up public efforts to court the Boeing Co., part of a high-stakes interstate competition for the second assembly line of the company's long-delayed 787 jetliner. In a report released Monday, Gov. Chris Gregoire detailed what she called the business case for building a second 787 line in Washington state.
NEW YORK (AP) — Italian motorcycle maker MV Agusta Group unveiled its first new models in 10 years on Monday, saying its purchase by motorcycle giant Harley-Davidson Inc. last year is beginning to pay off. The two new bikes — new versions of its Brutale sport bikes — are geared toward younger, affluent riders interested in MV Agusta's sporty performance rides.
TULSA, Okla. (AP) — The widow of a Cintas Corp. worker who fell into an industrial dryer and died in 2007 wants a federal judge to unseal for public viewing more than 90 percent of the evidence in her lawsuit against the nation's largest uniform supplier. Amalia Diaz Torres claims in a motion filed last week that the Cincinnati-based company is abusing the court's protective order by marking much of the case evidence as "confidential," forcing key documents and depositions to be blacked out.
EAST AURORA, N.Y. (AP) — Aircraft systems maker Moog Inc. said Monday it completed its acquisition of a GE Aviation Systems flight control product line for $90 million. The deal was made in cash, with funds from the company's revolving credit facility, Moog said in a release. The GE business, based in Wolverhampton, England, designs and makes flight control actuation for commercial and military programs, including for the Boeing 777 and the Airbus A330.