The U.S. economic recovery hasn't felt much like one even for people who managed to find new jobs after being laid off. Most of them have had to settle for less pay. Only 56 percent of Americans laid off from January 2009 through December 2011 had found jobs by the start of this year, the Labor Department said Friday. More than half of them took jobs with lower pay. One-third took pay cuts of 20 percent or more.
General Motors Co. is recalling nearly 45,000 of its 2012 Chevrolet Sonic subcompact cars because of a defect that could prevent washer fluid from spraying on the car's windshield. The recall covers certain 2012 Sonics manufactured from May 5, 2011 through Feb. 24, 2012. GM says the windshield wiper hose on these cars may separate from the washer fluid reservoir.
After a year of scorched-earth litigation, a jury decided Friday that Samsung ripped off the innovative technology used by Apple to create its revolutionary iPhone and iPad. The jury ordered Samsung to pay Apple $1.05 billion in the latest skirmish of a global legal battle between the two tech giants. An appeal is expected.
Spyker NV, the company that bought Saab but couldn't save it from bankruptcy, says Chinese car manufacturer Zhejiang Youngman Passenger Car Group Co, Ltd. will invest €10 million ($12.5 million) in Spyker to make a new car. Spyker said Monday Youngman will pay €6.7 million for a 29 percent stake in Spyker, and loan it another €3.3 million.
A jolt of support from Inman has re-energized a decades-long effort to restore a decrepit, 110-year-old laboratory once used by Nikola Tesla, a visionary scientist who was a rival of Thomas Edison and imagined a world of free electricity. Thousands of donors from over 100 countries have kicked more than $1M through a social media fundraising website to pay for the restoration of Nikola Tesla's Wardenclyffe laboratory.
A bankruptcy judge nixed on Friday a proposal to give eight top Hawker Beechcraft executives up to $5.3 million in bonuses, ruling the plan merely rewarded them for staying at their jobs. U.S. Bankruptcy Judge Stuart Bernstein ruled that the bonus plan sought by the Kansas plane maker set the bar too low to qualify as anything other than a retention program for insiders.
Microsoft's corporate logo has a new look, setting the stage for a wave of products designed to cast the world's largest software maker in a new light. The makeover unveiled Thursday marks the first time that Microsoft Corp. has revamped its logo since February 1987. The Internet was barely around then, and cellphones were considered a luxury.
The number of people seeking first-time unemployment benefits rose a slight 4,000 last week to a seasonally adjusted 372,000, evidence that the job market's recovery remains modest and uneven. The Labor Department said Thursday that the four-week average, a less volatile measure, increased 3,750 to 368,000.
Suzuki Motors Corp. Chairman Osamu Suzuki said Friday the Japanese carmaker plans to set up a skill development institute in western India to help train Indian workers and improve their professional skills. Suzuki unveiled the plan in a meeting in Ahmedabad with Narendra Modi, the chief minister of the western Indian state of Gujarat.
Canadian phone maker Research In Motion has begun showing its new BlackBerry smartphones to wireless carriers around the world, but the struggling company says it is still months away from starting to sell them. The smartphones running the new BlackBerry 10 operating system are critical to RIM's survival. RIM executives met with wireless companies this week and provided a glimpse of the much-delayed system.
A Syracuse-area manufacturing company that has been in business for nearly 125 years has shut down production. WSYR-TV in Syracuse reports that the last auto parts assembly lines at New Process Gear in suburban DeWitt shut down Thursday. The plant will be completely closed by the end of the year.
Signs that U.S. manufacturing is faltering emerged from a report Friday that orders for long-lasting factory goods, excluding the volatile transportation category, fell in July for the fourth time in five months. Overall orders for durable goods rose a seasonally adjusted 4.2 percent in July, the Commerce Department said.
South Korea's Samsung won a home court ruling in its global smartphone battle against Apple on Friday when judges in Seoul said the company didn't copy the look and feel of the U.S. company's iPhone, and that Apple infringed on Samsung's wireless technology.
China's manufacturing activity fell to a nine-month low in August, a survey showed Thursday, stepping up pressure on Beijing for more interest rate cuts and stimulus measures to revive growth in the world's second-largest economy. HSBC Corp. said a preliminary version of its monthly purchasing managers' index fell to 47.8 from July's 49.3 on a 100-point scale where numbers below 50 indicate a contraction.
Energy and aerospace company Woodward Inc. plans to build a new $200 million northern Illinois manufacturing campus, state and company officials announced Thursday. The Rockford area campus will feature a 300,000-square-foot production plant and office center on 60 acres and is estimated to create some 660 jobs over the next five years.