TOKYO, Oct. 31 (Kyodo) — Among 282 major Japanese companies which had released their earnings reports for the April-September term by last Friday, manufacturers logged a 50.3 percent year-on-yen plunge in net profit as the March 11 earthquake and tsunami affected production, SMBC Nikko Securities Inc.
DETROIT (AP) — Parts shortages from three months of catastrophic flooding in Thailand have forced Honda to cut U.S. and Canadian factory production by 50 percent for the second time this year, the automaker said Monday. The cuts, which come just as Honda was recovering from the March 11 earthquake and tsunami in Japan, will run from Wednesday at least through Nov.
SPRINGDALE, Ark. (AP) — The Cargill Inc. plant that was the subject of two recalls of ground turkey hasn't set a date for resuming production of the product but has brought back 40 of 130 workers the company laid off. The Springdale plant has about 1,200 employees and — at full production — processes 7 million pounds of finished turkey products each week, ranging from whole birds to turkey breasts to ground products.
NEW YORK (AP) — For the first time, Samsung Electronics Co. shipped more smartphones in the latest quarter than tech industry darling Apple Inc. On the surface, this may look like a big upset in a world that gives the iPhone maker adulation and outsized expectations. The real reason, however, has more to do with timing and Samsung's variety of offerings and prices.
MANCHESTER, Conn. (AP) — Lalit Radia and his wife, Bina, who moved recently to Glastonbury from India, were in the waiting room of GE Aviation's Parker Street plant on Thursday with applications for machinist jobs. Each has 10 years' experience in a paper and printing plant, and they're hoping to get two of the 10 machinist and welding jobs that GE Aviation's Parker Street and Adams Street plants have been trying to fill for several months without success.
SAGINAW, Mich. (AP) — General Motors Co. said Friday it will invest about $215 million in its Saginaw Metal Casting Operation for future engine block and head casting work. The move is expected to create or retain about 275 jobs, the Detroit-based automaker said. The Saginaw, Mich.
TOKYO, Oct. 31 (Kyodo) — Electronic parts maker TDK Corp. said Monday it will cut around 12 percent of its group-wide workforce within one to two years to streamline operations in the face of falling earnings. The planned cut of about 11,000 jobs is expected to reduce costs by 20 billion yen, said TDK, which had 88,449 workers on its payroll at home and abroad as of September 30.
ORLANDO, Fla. (AP) — Boeing will announce an agreement with Space Florida on Monday to lease the hangar that housed the space shuttles to build similar craft that will bring people and cargo to space. The deal with the state's space agency will create 140 jobs in the next 18 months and 550 jobs by 2015 in an area that's lost jobs as the space shuttle program was retired earlier this year, according to Gov.
MISHAWAKA, Ind. (AP) — The northern Indiana factory where AM General once made H2 Hummers could soon be building plug-in, hybrid cargo vans. Anderson-based Bright Automotive announced Friday it had signed an agreement for AM General to start building its Idea work van in 2013 or 2014 at the Mishawaka (mish-ah-WAH'-kuh) factory.
WASHINGTON (AP) -- The federal government slapped a hefty $1.3 million fine on a toy company that sold popular arts-and-crafts beads that were linked to a dangerous drug and sickened about a dozen children. The civil penalty, announced Thursday, marks the third largest toy-related fine issued by the Consumer Product Safety Commission.
SAGINAW, Mich., Oct. 28, 2011 /PRNewswire/ -- Nexteer Automotive, a tier one automotive supplier committed exclusively to wheel-to-wheel advanced steering and driveline systems, today announced a $150 million investment at its Saginaw, Mich., operations. Increasing customer demand for fuel-efficient electronic power steering (EPS) technology is the driving force behind the investment, which will result in the retention of more than 1,000 jobs.
WASHINGTON (AP) -- Americans spent in September at three times the pace of the previous month, even though their incomes barely budged. They financed their spending binges by saving at the lowest level since the start of the Great Recession. Consumer spending rose 0.6 percent last month, the Commerce Department said Friday.
ISLE OF WIGHT, Va. (AP) — Green Mountain Coffee Roasters Inc. is bringing a production and distribution center to southeastern Virginia, investing $180 million and creating as many as 800 jobs over the next five years, the company and state officials announced Friday. The Waterbury, Vt.
NEW YORK (AP) — Appliance maker Whirlpool Corp. plans to cut 5,000 jobs, about 10 percent of its workforce in North America and Europe, as it faces soft demand and higher costs for materials. The world's biggest appliance maker also on Friday cut its 2011 earnings outlook drastically and reported third-quarter results that missed expectations, hurt by higher costs and a slowdown in emerging markets.
DERRY, Pa. (AP) — State police say they're investigating the theft of about $10,000 worth of heavy industrial copper wire from a shuttered industrial tool-making plant in western Pennsylvania. Troopers from Greensburg announced Friday that someone broke into the Kennametal Inc. plant in Derry Township about a week ago.
WASHINGTON (AP) — The history of electric cars is going on display at the Smithsonian's National Museum of American History with two "electrifying cars" from the early 20th century. A 1904 Columbia electric runabout went on display Thursday with a 1913 Ford Model T touring car.
WILMINGTON, Del. (AP) — Attorneys for Intel Corp. asked a federal judge in a hearing in Delaware Thursday to dismiss several claims in an antitrust lawsuit filed against the computer chip maker by New York state's attorney general. The lawsuit, filed in November 2009, alleges that Intel paid billions of dollars in kickbacks to computer makers in order to dominate the market for microprocessors, and that it retaliated against manufacturers who did too much business with its competitors, particularly Advanced Micro Devices Inc.
DETROIT (AP) — Moody's Investors Service raised the corporate debt ratings for General Motors Co. and Ford Motor Co. on Thursday, citing new labor agreements and improvements in their finances. The ratings were raised from "Ba2" to "Ba1," which is one notch below investment grade.
STOCKHOLM (AP) — Two Chinese companies have reached a tentative deal to take over struggling car maker Saab for euro100 million ($141 million), the company's owner Swedish Automobile said Friday. The move by Zhejiang Youngman Lotus Automobile Co. and Pang Da Automobile Trade Co.
AKRON, Ohio, Oct. 28, 2011 /PRNewswire/ -- The Goodyear Tire & Rubber Company (NYSE: GT) today reported that its third quarter 2011 sales and earnings were the best in its history. Quarterly net sales exceeded $6 billion for the first time ever. "I am very pleased with our performance," said Richard J.