Scores of Japanese-owned factories and stores in China were shuttered Tuesday as anti-Japan demonstrations erupted in dozens of cities. At stake are billions of dollars in investments and far more in sales and trade between Japan and China, the world's third- and second-largest economies. The two are so closely entwined that both would suffer from any long-term disruptions.
ArcelorMittal says it will spend $50 million to upgrade and restart a coke plant near Pittsburgh, adding more than 100 jobs in the process. Plant manager Paul Champagne says the Luxembourg-based metals company will modernize the pollution-control equipment at the plant, and make other improvements so the plant in Monessen will be safer and more competitive.
Briggs & Stratton Corp. cited ongoing drought conditions as it announced that the company will temporarily shutter a McDonough, Ga., facility that makes lawn and garden equipment. Production will be suspended from Oct. 29 through Nov. 25. About 340 hourly employees and 200 temporary employees will be laid off during the shutdown.
Striking union workers at Constellium Rolled Products in West Virginia's Jackson County will decide this week whether to accept or reject the company's latest contract offer. United Steelworkers officials tell media outlets that members of Local 5668 will vote by secret ballot on Wednesday. Four informational meetings on the contract proposal are scheduled Tuesday.
Honda Motor Co. and Mazda Motor Corp. on Monday both announced the halt to operations at their auto assembly plants in China, amid anti-Japan protests in the country triggered by Japan's nationalization of a group of islets in the East China Sea claimed by China.
The Canadian Auto Workers union said it is "very close" to reaching a deal with Ford as a midnight strike deadline looms with all three of Detroit's automakers. CAW spokeswoman Shannon Devine said Monday afternoon they are "nearly done" after talks went on until 6 a.m. and then picked up again around 8:30 a.m.
Ford Motor Co. is recalling some of its 2012 Edge vehicles because of concerns that the fuel line could leak and potentially cause a fire. The recall affects about 5,500 vehicles made between Sept. 2, 2010, and Oct. 31, 2011.The Edge is a midsized SUV, and the affected vehicles have 2-liter engines.
Shares of automakers fell on Monday after Moody's Investors Service said that sluggish demand in Europe and weakening sales in China will hurt the growth prospects for the global auto industry. Moody's cut its prediction for 2013 sales of light vehicles to growth of 2.9 percent from a January prediction of 4.5 percent.
Suntech Power Holdings Co. is reducing its solar cell production capacity in China to lower production costs and cut operating expenses. The move will impact about 1,500 workers. The Chinese solar panel maker said Monday that most of the employees will be offered jobs at other production plants. Others will get severance packages.
China filed a World Trade Organization case Monday challenging U.S. anti-dumping measures on billions of dollars of kitchen appliances, paper and other goods, adding to worsening trade strains as global demand weakens. Beijing's move came after American officials said the Obama administration plans to file its own WTO case this week accusing China of improperly subsidizing exports of automobiles and auto parts.
Government safety regulators are investigating Ford's Crown Victoria police cars due to complaints about defective steering columns. The probe affects about 195,000 cars from the 2005 through 2008 model years. The government has received three complaints that part of the steering column can separate and cause loss of steering control.
The Canadian Auto Workers union is telling its members they are optimistic strikes can be averted with the Detroit three automakers after the union decided to focus their talks on reaching a deal with Ford that would also set a framework of an agreement with General Motors and Chrysler.
Honda Motor Co. is planning to build a diesel engine manufacturing plant in India with an eye to starting its operations in 2013, corporate sources said Sunday. Amid burgeoning demand for diesel engine-powered cars in India, Honda plans to invest about 30 billion yen to build the engine plant within the compound of its existing production site in the northwestern state of Rajasthan, according to the sources.
Two Italian Cabinet ministers have demanded that carmaker Fiat, which controls Chrysler, clarify its plans for investments in Italian plants amid mounting concern over possible closures. Economic Development Minister Corrado Passera said the government isn't interfering in Fiat's decision-making but that its concern is justified, given Fiat's importance in Italy.
Workers belonging to Hostess Brands' biggest union on Friday narrowly approved new contract terms, raising the possibility that the maker of Twinkies and Wonder Bread will stay in business. But another group of employees rejected the contract terms that Hostess says are needed for it to survive.