Cessna Aircraft parent company Textron Inc. said Thursday it will buy Beechcraft Corp. for approximately $1.4 billion, a deal that would combine two mainstays of Wichita's general aviation industry.
BlackBerry co-founder Michael Lazaridis has trimmed his stake in the troubled smartphone pioneer to just below 5 percent after selling 3.5 million shares during the past two days. The sales disclosed in a Tuesday regulatory filing came after BlackBerry Ltd. announced a third-quarter loss of $4.4 billion last week.
Kalashnikov once aspired to design farm equipment. But even though his most famous invention — the AK-47 assault rifle — sowed havoc instead of crops, he often said he felt personally untroubled by his contribution to bloodshed. "I sleep well. It's the politicians who are to blame for failing to come to an agreement and resorting to violence," he said in 2007.
Hyundai and its sister company Kia say they'll pay up to $395 million to consumers as part of a proposed settlement over overstated gas mileage. The automakers faced lawsuits after they acknowledged in November that they had overstated the fuel economy of some of its vehicles.
The surge in orders for durable goods, which are products expected to last at least three years, was the latest evidence of a rebound in manufacturing. The gains will likely provide support for the economy into 2014.
The fund, estimated at $40 million, would compensate injured workers and dependents of those of who died, according to a statement by the organizers of the fund.
The private gathering occurred in October during an aerospace conference in Seattle, Inslee spokesman David Postman said on Monday after The Associated Press identified the meeting in records obtained under public records law. Postman said the governor talked with Barry Eccleston, the president and CEO of Airbus Americas, for about 20 minutes.
Westmoreland Coal Co. said Tuesday that it has agreed to buy the coal mining operations of Sherritt International Corp. for about $435 million which will help it expand its operations in Western Canada. The Englewood, Colo., company said the deal will double its business and make it the sixth largest coal producer in North America.
The owner of a bio-fuel plant in Hopewell plans to open the facility instead of dismantling it. Vireol Bio-Industries had planned to ship the plant's equipment to its plant in England.
Ally is paying $80 million in damages to about 235,000 African-American, Hispanic and Asian and Pacific Islander borrowers, and $18 million in penalties. The higher rates were charged on auto loans between April 2011 and December 2013, according to the government.
Growing optimism over the U.S. economy helped shore up global markets Monday despite tensions in China's credit markets. Germany's DAX and the main U.S. indexes all struck record highs, albeit on a day when trading was fairly muted as many traders were already off for the Christmas break.
A leading firearms company is moving into new headquarters west of Birmingham. Steyr Arms says it will be up and running in its 33,000-square-foot complex in Bessemer on Jan. 2. The company has been operating in the Birmingham suburb of Trussville.
To help the environment, the government allows power companies to sell the carbon dioxide to oil companies, which pump it into old oil fields to force more crude to the surface. A side benefit is that the carbon gets permanently stuck underground.
But 10 years ago Monday, it took just one cow to send shock waves through the cattle industry of the United States, home to some 100 million cattle, slam the door on billions of dollars in exports and scare a lot of beef eaters.
Police charged the owners of a Bangladeshi garment factory and 11 employees with culpable homicide Sunday for alleged negligence leading to the death of 112 workers in a raging fire that engulfed the factory last year.
Appliance maker Electrolux announced plans Friday to create more than 800 additional jobs over the next four years in Charlotte as it expands next to its North American headquarters.
National union leadership said Sunday that the vote will be Jan. 3. In a statement, IAM leaders said the latest proposal contains "significant improvements" over an offer rejected by Machinists in November.
The Labor Department said Friday that employers added jobs in 43 states and cut jobs in just seven. California, Texas and Indiana reported the largest job gains. The lower state unemployment rates are due in part to robust hiring nationwide over the past four months.
Altria Group Inc. and Philip Morris International Inc. said Friday that they've entered into agreements related to marketing alternatives to traditional cigarettes. Terms of the deal were not disclosed.
Government, academic and other researchers made comprehensive check-ups on 29 dolphins in Barataria Bay in August 2011 as part of the Natural Resource Damage Assessment — a federal process to determine the extent of damage and how to repair it. Barataria Bay was one of the areas where pelicans struggled in heavy slicks and thick globs of oil washed onto marshy islands between April and July 2010.