A proposal to provide a company with $125 million in state financing to build a new steel mill in northeastern Arkansas has won approval in the state House. By a 78-17 vote, lawmakers on Monday passed legislation authorizing Arkansas to issue bonds to provide a loan and pay some construction costs of a $1.1 billion steel facility in Osceola.
The state environment minister has called on a Brazilian steel company to immediately move around 750 people living near its plant in a Rio de Janeiro suburb. Soil there was found to contain up to 90 times the legal limit of toxic and potentially carcinogenic substances including lead and cadmium. Carlos Minc says the National Steelworks Company could be fined as much as $25 million for what he called "several environmental crimes."
PSI Repair Services, Inc., a subsidiary of Phillips Service Industries, will showcase its extensive range of services to support wind farm operations and maintenance (O&M) professionals at the WINDPOWER 2013 Conference & Exhibition. As a leading independent service provider (ISP) in the wind energy industry, PSI Repair Services offers component repair and upgrade services for GE, Vestas, Siemens and Clipper wind turbines.
A $16 million settlement over the safety recall of Toyota vehicles that were at risk for unintended acceleration and braking issues was announced Friday by Orange County prosecutors and Toyota Motor Corp. The suit was one of a flood of cases brought against the automaker after more than 14 million vehicles were recalled in 2009 and 2010 - many of them still waiting to be heard or settled.
North Korea said Monday it will suspend operations at a factory complex it has jointly run with South Korea, pulling out more than 53,000 North Korean workers and moving closer to severing its last economic link with its rival as tensions escalate.
Mexico City authorities say seven workers died while cleaning a tank at a Grupo Modelo brewery in Mexico City. A spokeswoman for city prosecutors says the accident occurred early Sunday and that investigators are looking into whether the workers died from inhaling toxic fumes. The official spoke on condition of anonymity because she was not authorized to discuss the case.
General Electric Co. has agreed to buy the oilfield equipment maker Lufkin Industries Inc. for $3 billion, furthering an effort by GE to grow its oil and gas operations. GE said Monday it would pay Lufkin shareholders $88.50 per share in the all-cash deal, a 38 percent premium over Lufkin's closing price on Friday of $63.93.
Boeing put its 787 battery fix through a "final" flight test on Friday and will soon submit the data to regulators, who the aircraft maker hopes will sign off on the new battery system and allow the 787 back in the air. The 787 Dreamliner has been grounded since mid-January because of smoldering batteries that, in one case, caused a serious fire on the tarmac in Boston.
Delaware Gov. Jack Markell's office says Fisker Automotive has notified the state of plans to lay off most of its remaining work force. Markell spokeswoman Cathy Rossi said in an email Friday that Delaware officials were disheartened to learn of the company's plans.
Caterpillar Inc. says it plans to lay off more than 460 employees this June at its plant in Decatur. Rachel Potts is a spokeswoman for the Peoria-based company. She said Friday that Caterpillar is laying off the employees as part of an ongoing series of production cuts.
General Motors Co. says it plans to invest nearly $30 million for the production of two new engines and other auto parts at its Bedford Castings plant in southern Indiana. GM said Thursday the Bedford plant will receive $19 million to produce components for a small gas engine and $10.4 million to produce components for a new 8-speed and existing 6-speed transmissions.
Troubled electric car maker Fisker Automotive plans to lay off a large number of the workers at its California headquarters on Friday, a person briefed on the matter said. The person, who did not want to be identified because a formal announcement hasn't been made, said the layoffs will be effective at 8 p.m. Pacific time. The exact number was unknown.
The U.S. government says Tyson Foods has agreed to pay roughly $4 million in civil penalties to settle alleged violations related to eight accidental releases of anhydrous ammonia that happened over a four-year span and caused one death.
The Arkansas House delayed a vote on a proposal to provide a company with $125 million in state financing to help build a new steel mill in northeastern Arkansas. Lawmakers didn't take up the proposal on Thursday as the legislation's sponsor, Rep. Monte Hodges, made a technical change to the proposal. The measure could come up Friday.
Hewlett-Packard Co. Chairman Ray Lane is stepping down and two other board members are leaving after pressure by disgruntled stockholders stung by the personal computer maker's downfall. The moves announced Thursday comes just two weeks after HP barely rebuffed a shareholder rebellion aimed at Lane, John Hammergren and G. Kennedy Thompson, the two longest-serving members on the board.
To call Tim Sylvester a road builder misses the point. The streets he intends to build are embedded with electronic sensors that may keep cars of the future from speeding, veering and crashing. A few blocks from Sylvester's Integrated Roadways office in Kansas City, doctoral candidate Amol Khedkar is toiling on his own prototype for a software system that would let cars talk to one other.
The U.S. trade deficit unexpectedly narrowed in February as exports climbed close to an all-time high and the volume of imported crude oil fell to the lowest level in 17 years. The gap between exports and imports shrank to $43 billion in February, down 3.4 percent from January's revised $44.5 billion, the Commerce Department said Friday.
The state Legislature passed a bill Thursday designed to make sure Alabama lands Airbus aircraft suppliers rather than its neighboring states. The Senate gave final approval to the bill 27-0 Thursday and sent it to the governor, who endorsed it and promised to sign it into law.
BP has appealed a federal judge's interpretation of settlement terms governing payouts to businesses that claim the company's massive 2010 oil spill in the Gulf of Mexico cost them money. BP asked the 5th U.S. Circuit Court of Appeals to review last month's ruling by U.S. District Judge Carl Barbier.
Boeing Co. said Thursday that it delivered 137 commercial planes during the first quarter, the same as a year earlier, and it booked orders for 209 more planes. The deliveries included 102 of its 737s, up from 99 a year ago. Boeing has been speeding deliveries of those planes. It's Boeing's smallest commercial plane and in the U.S. is generally used on domestic routes.