Neither side in a bitter patent battle is satisfied with Apple Inc.'s $1 billion jury verdict over Samsung Electronics after a three-week trial this summer. Samsung wants a new trial. Apple is seeking an additional $707 million in damages and interest.
Shares of steel companies fell Monday after an analyst lowered ratings on two manufacturers, citing higher steel prices that could make imports more attractive. During the third quarter, domestic hot-rolled coil steel products have been priced up to $108 per ton more than similar products sold in southern Europe. That suggests near-term declines in hot-rolled coil steel prices are likely, Citi Research analyst Brian Yu said.
The Drives & Motion Division of Yaskawa America Inc. (YAI) is pleased to announce that it has acquired the business and operations of Wermac Electric Ltd. in Calgary, AB, Canada. Wermac is a 25-year partner with Yaskawa and has been an innovator and leader in applying Variable Speed Drives and Electrical Controls in the Oil & Gas industry.
The company that makes Apple's iPhones suspended production at a factory in China on Monday after a brawl by as many as 2,000 employees at a dormitory injured 40 people. The fight, the cause of which was under investigation, erupted Sunday night at a privately managed dormitory near a Foxconn Technology Group factory in the northern city of Taiyuan, the company and Chinese police said.
Canadian auto workers at Ford have voted to accept the new contract that their union leadership negotiated last week, the union said Sunday. The Canadian Auto Workers union said 82 percent of its Ford members accepted the four-year deal. The union did not indicate how many of its 4,500 workers at Ford cast ballots.
Toyota Motor Corp. is boosting its green vehicle lineup, with plans for 21 new hybrids in the next three years, a new electric car later this year and a fuel cell vehicle by 2015 in response to growing demand for fuel efficient and environmentally friendly driving.
Italian carmaker Fiat has restated its commitment to remain in Italy and says it will refocus its Italian plants on exports. Fiat, which controls U.S. carmaker Chrysler, made the assurances Saturday after CEO Sergio Marchionne met with Premier Mario Monti amid growing concerns that the crisis would force plant closures.
Sharp Corp. is considering selling its TV assembly plant in Malaysia to its Taiwanese business partner Hon Hai Precision Industry Co., sources close to the issue said Saturday. As the Malaysian plant has around 2,000 workers, the job cuts by the cash-strapped Osaka-based company will total around 10,000, including already announced workforce reductions.
Food manufacturers in Georgia may be dodging a first-of-its-kind law requiring that they inform state food inspectors when their products test positive for contamination, according to an audit of the state's food inspection service. An audit released this summer offers a combination of anecdotal and statistical evidence suggesting the so-called "red flag law" was not strictly followed after it was implemented in 2010.
The U.S. Navy has awarded a contract modification to Bath Iron Works worth up to $38 million for work on a class of Navy destroyers. Republican U.S. Sen. Olympia Snowe of Maine said Thursday that the award allows the General Dynamics Corp. unit to provide engineering services in detail design and construction for the DDG-1000 warships.
New York City's future yellow taxi has been chosen. It'll be a fleet of Nissan NV200s with skylights and electronic charging plugs, plus retractable steps that make entering and exiting easier. The new model was approved Thursday by the Taxi and Limousine Commission with a 5-2 vote.
The first of the new stores was set to open Friday in Garden City, N.Y. The location is expected to include interactive displays and design studios where customers can design their own Tesla Model S sedan on a large touchscreen and then view it on an 85-inch video wall.
The assembly line is running again at a Chrysler factory in Detroit, one day after an employee fatally stabbed his co-worker in view of their colleagues. Production restarted Friday at the Jefferson North plant that employs about 3,100 workers on two shifts.
A Taiwanese company was fined $500 million Thursday and its former president and executive vice president were each sentenced to three years in prison for their leading roles in a global LCD screen price-fixing conspiracy. The sentences handed down Thursday are among the harshest penalties ever given in an antitrust criminal case.
Microsoft Corp., the Hewlett-Packard Co. and other multinational corporations have avoided billions in U.S. taxes by shifting profits offshore and taking advantage of weak, ambiguous sections of the tax code, Senate investigators said Thursday.