Chemical maker Rockwood Holdings is buying Talison Lithium for $732 million in order to strengthen its lithium business. "This acquisition will enable us to better serve both our existing global customers as well as Talison's current lithium concentrate customers in China and the rest of the world," Rockwood Chairman and CEO Seifi Ghasemi said in a statement on Thursday.
Seagate Technology has reached a tentative deal to buy the former headquarters of solar company Solyndra. The Oakland Tribune reports the Cupertino-based maker of disc drives has entered into an agreement to purchase the massive building in Fremont, which has been empty since Solyndra filed for bankruptcy protection in September 2011.
U.S. presidential candidates talk tough on fighting what they see as China's unfair trade policies, but Chinese companies are investing more than ever in the U.S. and supporting thousands of American jobs. Investment from China is set to hit record levels in 2012, with two separate billion-dollar deals in shale oil and gas, a struggling chain of movie theaters and other major ventures in the works.
General Motors Co.'s Opel unit says employees at two of its German plants will work reduced hours over the next few months as the company struggles with a sagging European car market. Opel said Thursday it agreed with its employee council and the IG Metall industrial union that workers at the Ruesselsheim plant and the Kaiserslautern components factory will work reduced hours on 20 days through the end of the year.
Aerospace firm Lockheed Martin is cutting 550 jobs at its metro Atlanta plant as production of its C-130 aircraft slows, officials said. The move was announced Wednesday but is already under way, The Atlanta Journal-Constitution reported.
General Motors will build its next-generation Chevrolet Cruze compact car at its plant in Lordstown, Ohio, near Youngstown, according to a person briefed on the matter. GM will make the announcement on Thursday, said the person, who did not want to be identified because the formal announcement hasn't been made.
Investors bought metals Wednesday after the Federal Reserve hinted that it could take more action to help the economy. Prices for gold and silver jumped after 2 p.m., when the Fed released minutes from its most recent meeting. The Fed suggested it could act unless the economic recovery picks up dramatically.
Sen. Mark Udall is renewing his call to extend a wind-energy tax break following news of more layoffs at Vestas. Vestas, the world's biggest maker of wind turbines, said Wednesday that it's cutting 7 percent of its overall workforce in its second round of lay-offs this year.
A rally and food drive are being organized to benefit striking workers at Constellium's aluminum rolling plant in Ravenswood, West Virginia. More than 700 United Steelworkers members went on strike August 5 after contract talks broke down.
Chinese solar panel makers that grew fast over the past decade are suffering big losses due to slumping global sales and a price war that threaten an industry seen by communist leaders as a role model for hopes to transform China into a technology leader.
Two employees at South Carolina's Boeing Co. plant have appealed their complaint against the International Association of Machinists. The National Right to Work Foundation said Tuesday that Dennis Murray and Cynthia Ramaker had filed an appeal with the National Labor Relations Board.
After 18 years of negotiation, Russia on Wednesday entered the World Trade Organization, which restricts import duties and subsidies in an attempt to create a level playing field for international trade. Analysts and politicians hope that Russia, which has long proven a formidable market to foreign investors because of its byzantine bureaucracy and protectionist tariffs, would be transformed by its entry into the WTO.
German carmaker Volkswagen AG says sales rose 11.9 percent in July as demand in Asia and the United States outweighed slacker sales in crisis-hit western Europe. The company sold 468,300 vehicles worldwide during the month, up from 418,600 a year ago.
Michigan Gov. Rick Snyder is expected to join Detroit Mayor Dave Bing on Wednesday morning at the grand opening of an auto parts supply company expected to employ about 500 people. Detroit Manufacturing Systems on Southfield Road is expected to bring hundreds of high-tech, automotive interior component assembly jobs to the city.
A National Transportation Safety Board investigator said long time frames for fixes are not uncommon, because of the inconvenience involved in grounding planes for repairs. And an FAA spokeswoman said the four-year window was determined by the estimated 46 hours required to fix each jet. Safety regulators put the cost at $6,000 per plane.