The Boeing 787 Dreamliner battery that caught fire earlier this month in Boston shows evidence of short-circuiting and a chemical reaction known as "thermal runaway," in which an increase in temperature causes progressively hotter temperatures, federal accident investigators said Thursday.
South Korea's Hyundai Motor Co. reported its lowest quarterly profit in nearly two years Thursday due to lackluster car sales at home and a surge in the local currency that made it less competitive with Japanese automakers. South Korea's largest automaker earned 1.89 trillion won ($1.77 billion) in the October-December quarter, down 5.5 percent over a year earlier.
Mitsubishi Heavy Industries Ltd. plans to build a new plant for its subsidiary Mitsubishi Aircraft Corp.'s production of a new small jet now under development, company sources said Thursday. The company intends to secure a 7.8-hectare site neighboring an airport in Toyoyama, Aichi Prefecture, for the plant, which is expected to contribute to invigorating the regional economy through additional employment.
State officials say they have approved incentives for 14 business expansions that could generate more than $1 billion in investments and about 4,600 jobs in Michigan. Gov. Rick Snyder announced Wednesday the Michigan Strategic Fund approved the performance-based grants for projects across the Lower Peninsula.
Honeywell returned to a profit in its fourth quarter, helped by lower pension-related costs. Its adjusted results met analysts' estimates, and revenue topped Wall Street's expectations. Shares edged up in premarket trading Friday. The technology and manufacturing conglomerate from Morris Township, N.J., earned $251 million, or 32 cents per share, for the three months ended Dec. 31.
Atlas Copco ranks 18th among the 2013 Global 100 Most Sustainable Companies – a list presented on Jan. 23 at the World Economic Forum in Davos, Switzerland. This is the seventh time that Atlas Copco has appeared in the Global 100 rankings. “Sustainability lies at the heart of Atlas Copco’s innovative products and employee mindset,” said Jim Levitt, president, Atlas Copco North America LLC.
The 787 Dreamliner was born in a moment of desperation. But once production started, the gap between vision and reality quickly widened. The jet that was eventually dubbed the Dreamliner became plagued with manufacturing delays, cost overruns and sinking worker morale.
Some 250 steel workers from Liege's ArcelorMittal plant have scuffled with police outside the prime minister's office, a day after the leading steel and mining company announced it would close seven facilities in eastern Belgium. The workers pitched stones at police, who retaliated by using the water cannon in freezing temperatures.
China's manufacturing crept higher in January to the fastest pace in two years, a survey showed Thursday, in another sign the world's second-biggest economy is coming out of a downturn. A preliminary version of HSBC's monthly purchasing managers' index rose for the fifth month in a row to 51.9 in January from 51.5 in December. Readings above 50 on the 100-point scale indicate an expansion.
Bombardier says it's not worried that rival Brazilian aircraft manufacturer Embraer beat it to a contract with Republic Airways Holdings Inc. for the sale of 47 regional jets with an estimated value of US$2 billion. "It's not a blow," spokesman Marc Duchesne said Thursday, noting that Bombardier (TSX:BBSD.B) had previously received a firm order from Republic for 40 CSeries aircraft, with an option for 40 more.
A state-backed corporate turnaround fund is encouraging Sony Corp., NEC Corp. and Nissan Motor Co. to merge their lithium-ion battery businesses in the face of intensifying international competition, sources close to the matter said Friday. The Innovation Network Corp. of Japan and the three companies are aiming to reach an agreement on the merger plan within fiscal 2013, they said.
Belkin, a maker of smartphone cases and computing accessories, said Thursday that it is buying the home networking business unit of Cisco, including the Linksys router brand. Privately held Belkin, based in Playa Vista, Calif., did not disclose the purchase price, nor did Cisco Systems Inc. The deal is expected to close in March.
Manufacturers have been using technology to cut blue-collar jobs for years. Now, they're targeting their white-collar workers, too. Factory Automation Systems makes machines that help companies cut, bundle and load products faster and cheaper than humans can. But it didn't realize how much technology could help its own business until the Great Recession hit.
Obama administration officials struggled Wednesday to defend their initial statements that the Boeing 787 Dreamliner is safe while promising a transparent probe of mishaps involving the aircraft's batteries. FAA is working as quickly as possible to find the cause of the problems, assembling a team of technical experts that includes experts from industry as well as the agency's staff, Huerta said.
The world's leading steel and mining company ArcelorMittal said Thursday it will close a coke plant and six production lines in Belgium, in a move that threatens 1,300 jobs. The company said collapsing demand for steel and structural overcapacity in the sector have forced it to take the measures in eastern Liege, which has had a steel industry going back two centuries.
Toyota Motor Corp. and BMW Group are working together on next-generation batteries for green vehicles called "lithium-air" as their collaboration, first announced in late 2011, moves ahead in fuel cells, sports vehicles and other fields.
The U.S. International Trade Commission issued a final ruling Wednesday determining that Samsung Electronics Co., LG Electronics Inc. and other foreign manufacturers have been selling washing machines in the U.S. at below their market value, hurting the U.S. industry. The decision means the U.S. government will impose duties on imports of the washing machines.
Brazilian planemaker Embraer said Thursday it signed a contract with Republic Airways Holdings Inc. for the sale of 47 E-175 passenger jets for an estimated US$2 billion. Embraer says in a statement that the agreement includes options for an additional 47 aircraft, which would bring the total value of the deal to approximately US$4 billion.
To workers being pushed out of jobs by today's technology, history has a message: You're not the first. From textile machines to the horseless carriage to email, technology has upended industries and wiped out jobs for centuries. It also has created millions of jobs, though usually not for the people who lost them.
The nation's labor unions suffered sharp declines in membership last year, the Bureau of Labor Statistics said Wednesday, led by losses in the public sector as cash-strapped state and local governments laid off workers and — in some cases — limited collective bargaining rights.