News

Tata Motors Recovers On Jaguar, Land Rover Sales

August 10, 2010 4:28 am | by Erika Kinetz, Associated Press Writer | Comments

MUMBAI, India (AP) — India's Tata Motors posted quarterly profit of 19.9 billion rupees ($428.4 million) Tuesday, turning around a loss as reviving global demand for its Jaguar and Land Rover brands made up for rising commodities costs. The company returned to profitability on a consolidated basis for the April to June quarter from a loss of 3.

HP's Ex-CEO Gets A Payday As Investors Suffer

August 10, 2010 4:27 am | by Jordan Robertson, AP Technology Writer | Comments

SAN FRANCISCO (AP) — Whatever Mark Hurd did that cost him his job as CEO of Hewlett-Packard, the world's largest technology company, it wasn't enough to cost him a payday that could top $40 million. Meanwhile, with little still known about why an actress and HP contractor threatened Hurd with a sexual-harassment lawsuit, stockholders took a $9 billion hit Monday, and HP's 300,000 workers were left to wonder about its future.

B-2 Stealth Engineer Sold Secrets To China

August 10, 2010 4:23 am | by Mark Neisse, Associated Press Writers | Comments

HONOLULU (AP) — A former B-2 bomber engineer who marketed and sold his stealth expertise to China is facing life in a federal prison following his conviction for bartering U.S. military secrets. Noshir Gowadia, 66, was found guilty Monday on charges that he designed a cruise missile component for China and pocketed at least $110,000, which he allegedly used to help pay a $15,000-a-month mortgage on a multimillion-dollar oceanview home he built on Maui's north shore.

Sara Lee CEO Steps Down Following Stroke

August 9, 2010 5:07 am | by Emily Fredrix, AP Retail Writer | Comments

NEW YORK (AP) — Sara Lee Corp. Chairman and CEO Brenda Barnes will step down permanently to focus on improving her health following a stroke, the food maker said Monday. Barnes, 56, had been on temporary medical leave since May 14. She will also leave her position on Sara Lee's board of directors.

Chrysler Recoups In 2Q, Still Loses $172 Million

August 9, 2010 4:54 am | by Dee-Ann Durbin, AP Auto Writer | Comments

DETROIT (AP) — A year after emerging from bankruptcy protection, Chrysler Group LLC said Monday that growing car and truck sales helped it narrow its second-quarter loss to $172 million. The U.S. and Canada are Chrysler's primary markets, and both have seen increased demand for cars and trucks since a recession-related slump last year.

Two Men Crash Firebird Into Ethanol Plant, Gas Line

August 9, 2010 4:52 am | Comments

FAIRBANK, Iowa (AP) — Two Fairbank men are dead after the car they were riding in crashed into a natural gas line at an ethanol plant. Authorities say 49-year-old Brad William Higgins died at the scene of Friday's crash. The car's driver, 23-year-old Corey Allen Annis, died Saturday. The Iowa State Patrol says it appears that Annis lost control of the Pontiac Firebird, sending the car into a ditch, where it rolled several times.

Experts Conflicted On How To Prevent Workplace Shootings

August 9, 2010 4:51 am | by Ben Dobbin, Associated Press Writer | Comments

Criminologists call it murder by proxy — rampages by employees who go after their boss, supervisors and even co-workers they link to the source of their outrage. The message is: Look who's doing the firing now. These eruptions of workplace violence often occur in similarly brutal ways.

China Closes Polluting Factories For Being 'Backward'

August 9, 2010 4:49 am | Comments

BEIJING (AP) — China's government has ordered 2,087 steel and cement mills and other factories with poor energy efficiency to close as it struggles to cut waste and improve the country's battered environment. The "backward" facilities produce steel, coke, aluminum, paper and other materials in areas throughout China and must close by late September, the Ministry of Industry and Information Technology announced Sunday.

HP CEO Ousted Over Sexual Harassment Claim

August 9, 2010 4:47 am | by Jordan Robertson, AP Technology Writer | Comments

SAN FRANCISCO (AP) — The woman at the center of the sexual harassment claim that forced the resignation of Hewlett-Packard Co. CEO Mark Hurd revealed her identity Sunday and said she is "surprised and saddened" that Hurd lost his job. Jodie Fisher, 50, an actress and businesswoman, knew Hurd through her contract jobs with HP's marketing department from 2007 to 2009.

Seal Or Sell? BP Has Option On Remaining Oil

August 6, 2010 5:02 am | Comments

NEW ORLEANS (AP) — The vast oil reservoir beneath BP's blown-out well could still be worth billions of dollars even after it spewed crude into the Gulf of Mexico for more than three months — but the multinational company blamed for causing the disaster isn't saying whether it plans to cash in on this potential windfall.

Convicted Toyota Driver Rejects Offer Of Freedom

August 6, 2010 4:47 am | Comments

ST. PAUL, Minn. (AP) — The Toyota driver convicted in a crash that killed three people has rejected a prosecutor's offer to ask a judge to vacate his sentence and set him free. Koua Fong Lee is serving an eight-year sentence for criminal vehicular homicide in the 2006 crash. He petitioned for a new trial, saying he did all he could to stop his accelerating Toyota Camry before the crash.

GM CEO Expects To Sell All Stock In 1 Batch

August 6, 2010 4:39 am | Comments

TRAVERSE CITY, Mich. (AP) — Eager to get out from under government control, GM expects to sell its stock in one swoop when it offers shares to the public sometime later this year, its CEO said Thursday. Some experts had expected General Motors Co. to sell only a partial stake at first, followed by several smaller sales, but Ed Whitacre told reporters at an auto conference Thursday, "Our anticipation is we'd roll it out there all at once.

Boeing Receives Order To Build 3 Satellites

August 6, 2010 4:33 am | Comments

EL SEGUNDO, Calif. (AP) — Boeing Co. said Friday it won a contract from British satellite-telecommunications provider Inmarsat to build three communications satellites. Boeing said it was a fixed-price contract with options, but provided no other financial details. The satellites have an expected 15-year life span.

Bridgestone Returns To Profit On Auto Recovery

August 6, 2010 4:25 am | Comments

TOKYO (AP) — Bridgestone Corp. returned to profit in the first half and raised its full year forecast Friday amid a recovery in global auto demand that lifted tire sales. The Japanese tire maker, running neck and neck with Michelin SCA of France as the world's biggest, posted a 44.5 billion yen ($517.

Wheat Rots In India As World Grain Prices Soar

August 6, 2010 4:15 am | Comments

MUMBAI, India (AP) — A wheat stockpile in India that could feed 210 million people for a year is starting to spoil because the government lacks enough warehouses to store it — a lightning rod for local discontent that could send ripples through the world market for the grain. According to a government estimate obtained by The Associated Press, 17.