Thirteen defense executives are complaining that the threat of automatic, across-the-board cuts to military spending is creating uncertainty that's already affected their industry.
A security guard at a Philadelphia food plant says he opened the gate for an armed employee before a shooting that left two people dead. Guard Mark Bentley is testifying at Yvonne Hiller's double-murder trial about the night Hiller was suspended from Kraft Foods in September 2010.
One of five bidders for the contract, the company with about 60 employees is under agreement to complete the job by July 30, 2013. It already has built about half of the 41 trailers ordered under a previous deal. The trailers will be delivered to more than 20 locations around the world.
Solyndra disclosed in court papers filed this week that Argonaut Ventures I LLC and Madrone Partners LP could reap hundreds of millions of dollars in tax breaks after Solyndra emerges from bankruptcy. Under the proposed plan, the federal government stands to recover little, if any, of the $528 million loan, while creditors will see tax breaks.
Data released Monday showed China's imports shrank unexpectedly in August, and the Chinese president warned growth could slow further. Factory output is now at a three-year low. It's troubling news from the world's second-largest economy, especially when growth in the world's No. 1 economy — the U.S. — has also slowed.
The compact R50 hatchback will sell for as little as 67,800 yuan ($10,760), Nissan announced Saturday. It is part of a wave of new models by Japanese, U.S. and European automakers that are aimed at China's growing low-priced market outside major cities.
In a regulatory filing Monday, the computer and printer maker said it will cut 29,000 jobs by October 2014, up from the 27,000 cuts it announced in May. It didn't explain why it had raised the number. As before, it expects some of the job cuts to come through an early retirement program.
The Society of Indian Automobile Manufacturers blamed high interest rates, a vehicle tax hike and rising fuel prices for dampening demand. The government, however, has been under intense pressure to reduce its fiscal deficit by cutting spending for subsidies, particularly on fuel.
Imports declined 2.6 percent from a year earlier, below analysts' expectations of growth in low single digits, data showed Monday. That came on top of August's decline in factory output to a three-year low and other signs growth is still decelerating despite repeated stimulus efforts.
The plant opened in the 1930s as a market for crude oil producers in Kentucky and Tennessee. It went into bankruptcy in 2007. Haseotes recently announced a deal for Sunoco to supply crude oil to the plant. The refinery is one of only two in Kentucky can process 5,500 barrels of oil a day. Marathon Petroleum Corp. operates the other facility at Catlettsburg.
Patriot Bioenergy Corp., which has an office in Williamsburg, wants to locate the facility in Whitley County if the infrastructure is built and the Kentucky Economic Development or Energy Incentives boards approve of the project. Patriot's CEO Roger Ford told The Times-Tribune that the company would use natural gas to spark the process in a similar fashion to a distillery getting alcohol from sugar.
Theirs will be a 50/50 joint venture partnership to manufacture MidRange engines in Korea extending from 150 hp to 300 hp (112-224 kW) output for application in a wide range of Hyundai construction and industrial equipment. The HCEC joint venture operation will be located in the city of Daegu, Korea. The new facility will have a capacity in place to build more than 50,000 engines per year at full production.
Previously known as AutoAlliance International, Flat Rock Assembly is now under the full management control of Ford. Following the end of Mazda6 production last month, the plant will continue to produce the Mustang before adding Fusion next year. Flat Rock Assembly will be the U.S. producer of Fusion, employing 2,900 workers on both vehicle lines.
Some economists expect a new bond-buying program to be announced. Others aren't so sure. Most do think the Fed will unveil something, after Chairman Ben Bernanke said last week that the Fed will do more to help the economy. But they don't see a bold move. Not yet, anyway.
The Navy has been cited for safety violations that exposed hundreds of employees at an aircraft hangar in Coronado to toxic materials such as lead, cadmium and beryllium, the U.S. Department of Labor's Occupational Safety and Health Administration announced Thursday.