Out with General Motors Co., in with China's No. 2 automaker: PSA Peugeot Citroen is moving closer to a partnership with Dongfeng Motor. Spokeswoman Antonia Krpina at the capital-hungry French automaker said Monday its supervisory board has reached "cohesion" in talks announced last month involving Dongfeng.
Malaysia unveiled a new auto policy Monday, offering incentives and easing curbs on the production of small, energy-efficient cars to vie for investment with neighboring rivals Thailand and Indonesia.
The government is closing its investigation into older-model Jeeps with fuel tanks that could rupture and cause fires. The National Highway Traffic Safety Administration said Friday it has "no reservations" with Chrysler Group's plans to recall the vehicles.
The company blamed for a chemical spill that left 300,000 West Virginians without safe drinking water filed for bankruptcy Friday, temporarily shielding it from dozens of lawsuits, many by businesses that were forced to shut down for days.
Boeing Co., Etihad Airways, the oil company Total, and others say they will work together on a program to develop an aviation biofuel industry in the United Arab Emirates. Boeing says the program will involve research and development and investments in production of fuels derived from plants that can power aircraft.
General Motors Co. says new CEO Mary Barra will get a base salary of $1.6 million per year as she takes over the global automaker. GM said in a filing on Friday that Barra will also be eligible for $2.8 million in short-term incentives. Her pay would climb further if GM shareholders approve a new long-term incentive plan at their next annual meeting.
In his weekly radio and Internet address, Obama says the U.S. is primed to bring back jobs lost in the recession or to overseas competitors. But he says to make that happen, the U.S. must act to create good-paying jobs and increase economic opportunity.
The purge represents about 5 percent of the roughly 108,000 jobs that Intel had on its payroll at the end of December. The company intends to jettison the jobs without laying off workers, said Intel spokesman Bill Calder. The reductions instead will be achieved through attrition, buyouts, and early retirement offers.
Mayhew Steel Products Incorporated announced today that it has completed the acquisition of the land and buildings adjacent to its facility in the Turners Falls Airport Industrial Park. The expansion creates a 12 acre smoke-free campus with over 80,000 square feet of manufacturing, warehouse, and office space.
Women now buy nearly half the new cars in the U.S., a sharp increase compared with a generation ago, and the auto industry is trying to demonstrate that it's keeping up with the times when it showcases the latest models to the public.
General Electric Co. posted increased revenue and profit for the fourth quarter on rising sales in emerging markets, higher banking profit, and stronger global sales of aircraft engines and oil and gas drilling equipment.
The security breach that hit Target Corp. during the holiday season appears to have been part of a broader and highly sophisticated scam that potentially affected a large number of retailers, according to a report published by a global cyber intelligence firm that works with the U.S. Secret Service and the Department of Homeland Security.
The December 2013 composite index improved to 67 from 66 in the September survey—the fourth straight quarterly advance and the highest level since the September 2011 reading of 67. For 17 quarters, the index has remained above the threshold of 50, the dividing line separating contraction and expansion.
Canada's foreign minister says it's time for the Obama administration to make a decision on the controversial Keystone XL pipeline even if the answer is no. John Baird said Thursday "We can't continue to live in a state of limbo" during a speech at the U.S. Chamber of Commerce in Washington.
The Energy Department issued its 25-page approval of the $1.65 billion plan that would refit a coal-fired power plant in Meredosia in western Illinois. The project would remove carbon dioxide from the coal and store it underground. The greenhouse gas is linked to climate change.
U.S. employers advertised more jobs in November and more Americans quit, positive signs for millions who are unemployed and looking for work. The Labor Department says job openings rose 1.8 percent to 4 million, the most in 5 ½ years. And the number of people quitting increased 1.9 percent to 2.4 million, a five-year high.
U.S. factory output rose for a fifth straight month in December, as manufacturers cranked out more cars and trucks, appliances, and processed food. The gains suggest factories gave economic growth a strong boost at the end of the year. The Federal Reserve said Friday that factory production rose 0.4 percent in December.
The computing services company said Friday that it will build 15 data centers around the world this year to add to the 12 it already operates and the 13 it recently acquired through its $2 billion purchase of cloud computing company SoftLayer last year.
The costs and challenges associated with electronic asset failures are significant. To better understand these issues, Innovolt Inc. sponsored a survey of executives from several industries that are particularly dependent upon the reliability, performance, and lifespan of sensitive electronic equipment.
The move is part of efforts by the Japanese electronics manufacturer to accelerate outsourcing of its slumping semiconductor manufacturing operation. Last month, the company said it will sell off three of its semiconductor plants in central Japan to an Israeli chipmaker.