EDEN PRAIRIE, Minn. (AP) — Tyco Electronics Ltd. says it's acquiring ADC Communications in a deal valued at $1.24 billion. Switzerland-based Tyco, which was spun off from Tyco International, says it will pay $12.75 per share in cash for the networking equipment maker. Shares of ADC, based in Eden Prairie, Minn.
SAN FRANCISCO (AP) — Advanced Micro Devices Inc., the world's No. 2 maker of computer microprocessors, is scheduled to report its second-quarter results Thursday after the market closes. WHAT TO WATCH FOR: Many investors are worried about the strength of the personal computer market with economic troubles in Europe and concerns about slowing demand in China.
RAVENSWOOD, W.Va. (AP) — Union workers called off a planned strike at the Alcan Rolled Products aluminum rolling mill in Ravenswood on Monday. Some 700 members of the United Steelworkers had been scheduled to walk off the job Tuesday. But Local 5668 rescinded its strike notice in response to an offer Sunday by Alcan to continue talking, representative Randy Moore said.
WASHINGTON (AP) — The U.S. trade deficit widened in May to the highest level in 18 months as a rebounding economy pushed up demand for imports of foreign-made cars, computers and clothing. The trade deficit increased 4.8 percent to $42.3 billion, the largest imbalance since November 2008, the Commerce Department reported Tuesday.
DETROIT (AP) — Corvette owners could soon be revving up an engine they built with their own hands. General Motors Co. said Monday that buyers who order a 2011 Corvette Z06 or ZR1 can help assemble their cars' high-performance LS7 and LS9 engines. The automaker believes the program is the first of its kind in the industry.
May U.S. manufacturing technology consumption totaled $178.34 million, according to AMTDA, the American Machine Tool Distributors’ Association and AMT — The Association For Manufacturing Technology. This total, as reported by companies participating in the USMTC program, was down 22.
CHARLESTON, W.Va. (AP) — In 1943, four women working at a Goodyear Aircraft factory in Akron, Ohio, signed their names on the wing of the airplane they were putting together. Sixty-seven years later, one local "Rosie the Riveter" is being recognized for her contributions to the war effort.
BEAVER, Pa. (AP) — About 150 western Pennsylvania workers have been told they will lose their jobs with the closing of a specialty ceiling tile plant. Armstrong World Industries announced Friday that the 107-year-old Beaver County plant will close in phases over the next year.
NEW YORK (AP) — Johnson & Johnson said Monday it will pay $480 million for medical device maker Micrus Endovascular, adding a range of treatments for stroke and brain aneurysms. Johnson & Johnson said it will pay $23.40 per share, marking a 5.5 percent premium to Micrus' closing price on Friday.
SAN JOSE, California (AP) — A federal judge says a monopoly abuse lawsuit against Apple Inc. and AT&T Inc.'s mobile phone unit can move forward as a class action. The lawsuit consolidates several filed by iPhone buyers starting in late 2007, a few months after the first generation of Apple's smart phone went on sale.
BERLIN (AP) — Volkswagen says it's seeking to use more locally acquired parts in its auto production in North America. CEO Martin Winterkorn told the Sueddeutsche Zeitung daily newspaper for its Monday edition that it's not enough to produce cars in North America, but "we also need to get parts and components from there.
CARBONDALE, Ill. (AP) — It's the kind of publicity any university might dream about: An instructor uncovers a possible flaw that's causing some of the world's most popular cars to accelerate suddenly. His ground-breaking work attracts interest from Congress and reporters worldwide. But as Southern Illinois University's David Gilbert sought to show that electronics might be to blame for the problem in Toyotas, the world's largest automaker tried to cast doubt on his findings.
DETROIT (AP) — A decade ago, the PT Cruiser roared onto the road with trendsetting looks and Al Capone swagger. In a sea of bland Honda Civics and Toyota Camrys, it was a retro hit. Chrysler could barely keep up with demand. On Friday morning, the last Cruiser rolled off the assembly line in Mexico, finally killed off after years of declining popularity.
WASHINGTON (AP) — The European defense contractor EADS said it sumbitted its official bid Thursday for the Air Force's long-delayed, $35 billion aerial refueling plane contract. European Aeronautic Defence and Space Co., the parent of the aerospace company Airbus, said its North American division delivered copies of its 8,800 page proposal to an Air Force base in Ohio a day before the Pentagon's deadline for bids.
DETROIT (AP) — Detroit officials say a company's admission in a civil lawsuit against a small art gallery to owning the long-abandoned Packard Motor Car plant could jump-start the process of getting the blighted structure torn down. Bioresource Inc. earlier this week filed a lawsuit against the operators of the 555 Arts gallery for the return of an 8-foot section of wall featuring artwork and a message by elusive British graffiti artist Banksy.