Record unemployment and fraying social welfare systems in southern Europe risk creating a new divide in the continent, the EU warned Tuesday, when figures showed joblessness across the 17 EU countries that use the euro hit a new high. Eurozone unemployment rose to 11.8 percent in November, the highest since the euro currency was founded in 1999, according to the statistical agency Eurostat.
Hawaiian Airlines said Monday it plans to buy more than a dozen new Airbus planes to help it meet demand for travel between the West Coast and the islands. The planes — to be delivered four to seven years from now — will allow Hawaiian to open new markets and boost service to cities it already flies to, the airline said. The Honolulu-based airline plans to add 1,000 jobs as part of the expansion.
Silicor Materials says it has not given up on locating an operation in Mississippi. Last week, Silicor's proposed project in Lowndes County failed when the company missed a deadline to put up $150,000 to secure land and incentives. Local officials said the money was refundable to ensure that Silicor start construction by June 30 of 2013.
Schnitzer Steel posted a $2 million loss for the first quarter Tuesday, dragged down by restructuring charges and weak demand. For the quarter ended Nov. 30, the company's loss amounted to 6 cents per share, compared with a profit of $7 million, or 25 cents per share, in the same quarter last year.
Stockmeier Urethanes USA Inc. plans to expand its operations in Clarksburg. President and CEO Christian Martinkat tells The Exponent Telegram that the company is acquiring three-and-a-half to 4 acres and an office building adjacent to its plant from Thrasher Real Estate Investment LLC. The cost of the acquisition is $1.85 million.
Precision Castparts Corp. said Tuesday that it has completed its acquisition of Titanium Metals Corp. for roughly $2.9 billion. The deal, first announced in November, gives Precision a titanium capability that it said has always been a key missing piece from its product portfolio.
Small business owners were slightly more optimistic at the end of 2012 even as they awaited the outcome of negotiations in Congress over the "fiscal cliff." That's the finding of a survey by the National Federation of Independent Business, a lobbying group. The NFIB's small-business-optimism index rose half a point from its level in November to 88. The index remains near its lowest readings on record.
U.S. safety regulators have cleared the 2012 Jeep Grand Cherokee after an investigation into possible engine fires. The National Highway Traffic Safety Administration began checking 107,000 of the SUVs in July after getting complaints about power steering hoses coming loose and leaking fluid onto the engine.
A U.S. government safety agency wants electric and hybrid vehicles to make more noise when traveling at low speeds so pedestrians can hear them coming. The cars and trucks, which are far quieter than conventional gasoline or diesel-powered vehicles, don't make enough noise at low speeds to warn walkers, bicyclists and the visually impaired, the National Highway Traffic Safety Administration said.
Dow Chemical Co. has successfully restarted its St. Charles Olefins 2 Plant near Hahnville after three years of inactivity. The Advocate reports the plant has been producing ethylene, which is used in alcohol- and plastic-based products, since Dec. 25. Dow said it expects the plant will add $150 million to earnings before interest, depreciation and amortization.
A potential deal to sell a North Dakota pasta plant is off the table. Bektrom Foods official Bruce Satrom tells the Grand Forks Herald that the Michigan-based manufacturer has pulled its offer to buy the plant. Bektrom had been negotiating with the family of Leonard Gasparre, who died in 2011. Gasparre built the Cando plant in the mid-1980s and added a plant in Devils Lake in the 1990s.
Boeing's share price decline after a fire on one of its new 787s may be overdone, Jefferies analyst Howard A. Rubel wrote on Tuesday. Rubel wrote that the decline of over $1 billion in market value "would seem to overstate the worry." He noted that there has been no other similar incident to this one, and the other 787s continue to operate normally.
China's sovereign wealth fund is in talks about possibly buying a stake in German luxury automaker Daimler AG, the country's main Communist Party newspaper reported. China Investment Corp. might buy four to 10 percent of Daimler, Peoples Daily said on its website, citing anonymous sources. It gave no other details.
LG unveiled a 55-inch (1.4-meter) TV that sports "ultrahigh-definition" resolution with four times the sharpness of regular HD television sets, kicking off what is likely to be a mini-obsession with the latest super-clear format at the annual International CES gadget show.
A month after activist investor Carl Icahn gave up his bid for Oshkosh, the truck maker is ending a shareholder rights plan early. The "poison pill," announced this past October to ward off hostile takeover attempts, was set to end in October 2013. Instead, it will expire Monday after the close of trading.
Authorities in Temple say they are hoping to rebuild an old factory into a municipal complex in about a year. Mayor Rick Ford tells The Times-Georgian that the City Council will discuss the issue Monday and potentially approve a bid for the work. The town plans on demolishing the old Sewell Manufacturing Plant.
A Coca-Cola plant and warehouse in southeastern Kentucky is expanding, with a company official saying more room is necessary to accommodate growing sales. The plant in Middlesboro will grow by about 24,000 square feet. Regional Sales Manager Bobby Abbott told The Daily News the company needs a place to put more items and new equipment.
MarkWest Energy's new natural gas processing plant in Wetzel County has begun operations. The plant will process 200 million cubic feet of wet Marcellus and Utica shale gas per day. It will separate the gas' dry methane from ethane, butane, propane, and pentane.
Residents in Uxbridge are in an uproar because a developer is attempting to build an asphalt manufacturing plant in town, even though residents voted to prohibit them in 1995. The problem is that no one apparently recorded the 1995 zoning bylaw amendment after it was approved. So the prohibition isn't on the books following the latest amendment of the bylaws in 2011.
Commonwealth Applied Silica Technologies plans to open a manufacturing facility in Campbell County that's expected to create 300 jobs. Richmond-based Commonwealth plans to invest $35 million in the new facility, which will be constructed on the former Archer Creek Foundry site. The facility will process silica ore and extract high-value components for resale.