A trust fund that pays medical bills for Chrysler blue-collar retirees has asked the company to set up a public sale of Chrysler stock. The United Auto Workers trust, which owns 41.5 percent of Chrysler's shares, on Wednesday asked Chrysler to start the process for an initial public stock offering. The trust wants the company to sell 16.6 percent of the stock owned by the trust, Chrysler said.
Isuzu Motors Ltd. and its former shareholder General Motors Co. said Thursday that they plan to jointly develop new pickup truck models, reviving cooperation with an eye to fast-growing emerging markets. Isuzu and GM issued statements Thursday announcing the cooperation but gave no details.
The 2013 Nissan Leaf is now being produced in Tennessee. Nissan announced in a news release Wednesday that production of the all-electric car had begun in Smyrna. The car is being built next door to the Nissan plant that produces the Leaf's lithium-ion battery.
Concern is growing that the British economy may be headed back into recession after statistics released Friday showed a surprise drop in manufacturing activity. The Office for National Statistics said manufacturing output fell by 0.3 percent between October and November, far off analysts' expectations for an increase of 0.5 percent.
Aircraft maker Boeing Co. announced Friday it will expand manufacturing operations in Utah by opening a third factory in the Salt Lake City area to fabricate a tail piece for the Boeing 787. Boeing is taking over a factory originally built by KraftMaid Cabinetry in the Salt Lake suburb of West Jordan, where Gov. Gary Herbert joined company officials Friday for the announcement.
The Federal Aviation Administration is undertaking a comprehensive review of the critical systems of Boeing's 787s, the aircraft maker's newest and most technologically advanced plane, after a fire and a fuel leak earlier this week, the agency said Friday.
Japanese automaker Honda says it will cut about one in four jobs at its UK factory as it struggles with low demand in Europe. Honda Motor Europe says poor sales across Europe due to the region's economic crisis are behind the loss of 800 positions among its 3,500 member workforce in Swindon. The plant makes the Civic, Jazz and CR-V models.
Drivers have grown so accustomed to their on-the-go tasks that automakers are increasingly trying to make those things easier to pull off with both hands on the wheel and both eyes on the road. As General Motors and Ford commissioned ideas from app makers this week, the possibilities for what you can do with your vehicle's steering wheel buttons, microphone, speakers and internal gauges are quickly expanding.
Ford may get a longer look from curious investors after rolling out a more muscular, souped-up dividend on Thursday. The nation's No. 2 automaker is doubling its quarterly payout to 10 cents, just nine months after paying its first dividend in more than five years.
Bombardier says its regional jets and new CSeries commercial aircraft will retain their competitive advantages even after Brazilian rival Embraer puts more fuel-efficient engines on its E-Jet family of aircraft. Embraer this week said it plans to use a variant of the Pratt & Whitney engine that will power the CSeries on a "second generation" of regional jets beginning in 2018.
A former manufacturing plant in West Michigan that produced bowling equipment for a century is scheduled to be demolished by this summer. The Muskegon Chronicle reports Brunswick Bowling Products has contractors working to bring down buildings at the Muskegon site. By summer, they plan to wrap up demolition. The land will be green space available for future development.
Hon Hai Precision, a leading maker of iPhones and other high-tech gadgets, has said it is working with Chinese police probing allegations that employees of its Foxconn unit solicited kickbacks from suppliers. Hon Hai said in a statement late Wednesday that it will "thoroughly investigate" the alleged kickback case and also review its procurement procedures to close any possible loopholes.
China's trade growth rebounded strongly in December in a positive sign for the gradual and still uncertain recovery of the world's second-largest economy. Export growth more than quadrupled from the previous month to 14.1 percent while imports — which failed to grow at all in November — rose 6 percent in a sign of increasing domestic demand, data showed Thursday.
Apple is trying to decide whether it makes sense to offer a cheaper iPhone as it tries to boost sales in less-affluent countries and reclaim some of the market share lost to cheaper phones running Google's Android software, according to a published report.
Businesses and individuals who claim BP's oil spill in the Gulf of Mexico cost them money have been paid more than $1 billion through the company's class-action settlement with a team of private plaintiffs' attorneys, court-supervised claims administrator Patrick Juneau said.
General Motors' CEO said Wednesday that he expects the company to steal sales from rivals in the U.S. this year as its new cars and trucks gain traction with customers. Dan Akerson told reporters that he sees a modest gain in U.S. market share, helped by the rollout of the Chevrolet Silverado and GMC Sierra pickups and two Cadillac sedans. He also expects the company to do well globally during the next two years.
Boeing's 787 is supposed to revolutionize air travel. It just needs to get out of its own way first. The new plane is undoubtedly Boeing's most visible. It's built from composites instead of aluminum and comes with the promise of the most comfortable ride in the sky. At $200 million each, 787s are an important part of Boeing's future, even though it will be a while before it makes money on them.
General Motors CEO Dan Akerson said Wednesday he hopes the company regains investment-grade credit status this year. He told reporters that the company is working with credit rating agencies to raise its status from junk, where it's been since 2005. Akerson said the company's recent $11 billion credit line received investment grade rating, showing that banks are ahead of the ratings agencies.
Don't be surprised if some people assume the 2013 Chevrolet Spark is another newfangled electric car. Just 12 feet long and with an aerodynamic front end and abruptly chopped-off rear, the South Korean-built Spark could pass for an electric car. But there's no plug and no problem with fueling the 2013 version of this Chevrolet, because it comes with a gasoline-sipping, internal combustion, four-cylinder engine.
Archer Daniels Midland has temporarily shut down operations at its corn processing plant in central Illinois after an early morning explosion damaged the facility. ADM spokeswoman Jackie Anderson says a fire broke out after the explosion in the maintenance area of the Peoria plant at about 3 a.m. Wednesday. Nobody was hurt but fire officials say one person was taken to the hospital as a precaution.