Sharp cuts in U.S. military spare parts orders are hurting United Technologies Corp.'s helicopter maker, Sikorsky, the chief financial officer said Tuesday, although he was more optimistic about prospects in Europe. CFO Greg Hayes told investor analysts that automatic U.S. federal budget cuts beginning in March could take a bigger bite out of profit in 2014 than the company initially expected.
Hartzell Air Movement is pleased to announce that Neil Cordonnier has joined as Vice President of Operations. He will be focused on improvements in the operation using Six Sigma, lean techniques, and other process improvements. Prior to joining Hartzell, Neil worked as President of Ernst Metal Technologies.
Business leaders from Oracle Corp., Ford Motor Co. and The Boeing Co. said Tuesday their companies have found that it makes sense to bring jobs back to the United States — even to smaller cities in places such as Montana. Oracle President Safra Catz said her company has been centering its cloud computing division in the nearby mountain town of Bozeman.
Car sales in Europe are still sagging despite the return of modest economic growth. For the first eight months of the year, passenger car sales in the European Union were off 5.2 percent to 7.84 million compared with the same period last year, the European Auto Manufacturers' Association said Tuesday. That's the lowest January-August figure since the group started keeping track in 1990.
A robust recovery for the global economy remains well out of reach. That's the view that emerges from a survey of economists just as the Federal Reserve is expected this week to reduce its stimulus for the U.S. economy. Europe has finally emerged from recession. Japan is growing after two decades of stagnation. And the United States is trudging ahead.
U.S. health regulators have placed a ban on imported drugs from a factory operated by India's largest pharmaceutical company, Ranbaxy Laboratories, due to manufacturing and quality control problems. The import alert, issued Friday by the Food and Drug Administration, effectively stops imports of 11 drugs from Ranbaxy's Mohali factory in Punjab province.
Dozens of layoffs are still expected at the Boise Inc. plant in International Falls, despite news the company is being acquired by Packaging Corp. of America. International Falls plant spokeswoman Lori Lyman tells WDIO-TV the acquisition doesn't change the loss of 265 local Boise jobs.
A mattress maker will relocate its operations to a vacant facility near Tupelo, Miss., after lightning sparked a fire that destroyed its Double Springs, Ala., factory. Posturecraft Mattress Co. will open a plant in the former location of National Mattress Co. in Plantersville, with plans to hire 125 to 150 people, state Rep. Steve Holland says.
As automakers race to make cheaper electric cars with greater battery range, General Motors is working on one that can go 200 miles per charge at a cost of about $30,000, a top company executive said. Vice President of Global Product Development Doug Parks wouldn't say when or if such a car will be built, however.
Gov. Bobby Jindal and Benteler Steel/Tube marked the start of construction Monday with a groundbreaking on the company's new $975 million hot rolling seamless steel tube mill in Caddo Parish. The Paderborn, Germany-based company said the Louisiana site at the Caddo-Bossier Port was chosen from more than 100 possible locations due to its proximity to the North American oil and gas production market and the area's skilled workforce.
Eiji Toyoda, a member of Toyota's founding family who helped create the super-efficient "Toyota Way" production method, has died. He was 100. Toyoda, a cousin of the Japanese automaker's founder Kiichiro Toyoda, died Tuesday of heart failure at Toyota Memorial Hospital in Toyota city, central Japan, Toyota said in a statement.
A labor coalition wants Illinois' pollution control board to waive pollution controls at coal-fired plants being sold by Ameren Corp. The AFL-CIO is making its position known hours before the Illinois Pollution Control Board is set to meet in Springfield on Tuesday.
Drilling and fracking for natural gas do not seem to spew immense amounts of the greenhouse gas methane into the air, as has been feared, a new study says. The findings bolster a big selling point for natural gas, that it's not as bad for global warming as coal. And they undercut a major environmental argument against fracking, a process that breaks apart deep rock to recover more gas.
A former car plant that's a symbol of Detroit's industrial decline could be sold at public auction after a developer missed deadlines to acquire the property. The Detroit News and Detroit Free Press report Evanston, Ill.-based developer Bill Hults missed a Friday deadline to come up with $1 million. He's leading a group that wants to convert the Packard plant into a commercial, housing and entertainment complex.
The gap in employment rates between America's highest- and lowest-income families has stretched to its widest levels since officials began tracking the data a decade ago, according to an analysis of government data conducted for The Associated Press.
North and South Koreans got back to work Monday at a jointly run factory park after a five-month shutdown triggered by rising animosity between the rivals, with some companies quickly resuming production and others getting their equipment ready. South Korean business owners who have lost millions of dollars because of the hiatus say they'll need several months to recover.
Havana's harbor has long been an unsightly jumble of piers left to crumble into piles of rusty, twisted rebar. Its dominant feature is a refinery smokestack across the bay that belches smoke and flame 24 hours a day. But lately demolition crews and towering cranes have been working double-time to finally tear down the ruined docks.
The U.S. Federal Trade Commission cleared Honeywell International Inc.'s acquisition of Intermec Inc. on Friday, on one condition. Honeywell will have to license the patents needed to make two-dimensional bar code scanners to Italian rival Datalogic for 12 years. The FTC said that licensing the patents will resolve its charges that Honeywell's acquisition of Intermec is anticompetitive.
Suzuki is recalling 193,936 cars and SUVs because of a defective air bag sensor in the front passenger seat. Grand Vitara SUVs from the 2006 through 2011 model years and SX4 small cars from the 2007 through 2011 model years are involved. Sensor mats measure passengers' weight and determine if the air bag should deploy.
Suntech Power Holdings Co. said Friday that David King is stepping down as the company's CEO and acting chief financial officer. The news sent the struggling solar company's shares up 8 cents, or 6.7 percent, to $1.27 in afternoon trading. Its shares have traded in a 52-week range of 30 cents to $1.99.