The Europe Union and Chinese solar panel exporters said Saturday that they had reached a settlement in their long trade dispute, with the exporters agreeing to sell their products at a minimum price in the EU market. The agreement ends one of the biggest-ever trade disputes between China and Europe — a row that threatened to escalate into a full-blown trade war involving European wines and to disrupt EU-China relations.
Ford Motor Co. is recalling 33,021 C-Max hybrid cars because they may not adequately protect occupants' heads in a crash. Vehicles involved were made between Jan. 19, 2012, and June 25, 2013 and don't have panoramic roofs. C-Max hybrids with panoramic glass roofs aren't involved in the recall.
Just as General Motors is getting a handle on its troubles in Europe, the automaker faces a new challenge in another part of the globe. GM says Japanese automakers are using the weak yen to cut prices in Southeast Asia and Australia, taking a bite out of GM's profits there. Sales tailed off in India as well.
Halliburton Energy Services has agreed to plead guilty to destroying evidence in connection with the 2010 Gulf oil spill, the Department of Justice said Thursday. Federal officials said in a news release that a criminal information charging Halliburton with one count of destruction of evidence was filed in federal court in Louisiana.
China will spend $275 billion to tackle air pollution over the next five years, highlighting how the issue has become a priority for the leadership. The amount is more than the total economic output of Hong Kong last year and underlines how the government is eager to bring about a visible improvement in China's bad air, which has caused discontent among its citizens and tarnished the country's image abroad.
A federal workplace-safety agency has cited Echo Lake Foods for alleged safety violations at its Burlington and Franksville frozen food plants. The U.S. Occupational Safety and Health Administration has proposed fines of $150,000 against Echo Lake Foods for 27 alleged violations.
Noranda Aluminum Holding Corp. is expanding its plant in the southeast Missouri town of New Madrid, an expansion expected to create 29 jobs. Gov. Jay Nixon joined Noranda officials on Friday in New Madrid for the announcement. Noranda will spend $45 million on the expansion.
With the discovery of shale gas reserves in Brazil and plans to auction drilling rights there, a delegation is visiting Pennsylvania to see how its drilling boom has turned the state into one of the leading natural gas producers in the U.S. The group of Brazilian business and energy industry professionals hopes to learn from the state's experience and to explore the possibility of exports to Brazil during meetings Wednesday and Thursday.
Bombardier has delayed again the first test flight of its much-touted CSeries single-aisle airliner. The world's third-largest maker of civilian commercial aircraft had been aiming for the first flight by the end of July but said Wednesday it will occur "in the coming weeks" without giving a target date.
Toyota shrugged off China sales woes to stay the world's top selling automaker for the first half of this year, outpacing U.S. rival General Motors Co., which boasted such bragging rights for seven decades until 2008. Toyota Motor Corp. sold 4.91 million cars and trucks around the world for the January-June period, down 1.2 percent from the previous year, according to numbers it released Friday.
Japan's All Nippon Airways has found damage to wiring on two Boeing 787 locator beacons, a device suspected as the cause of a fire on an Ethiopian Airlines 787. ANA spokesman Ryosei Nomura said Friday that Boeing Co., the U.S. Federal Aviation Administration and Japanese regulators had ordered checks of the beacons.
China's government has ordered companies to close factories in 19 industries where overproduction has led to price-cutting wars, affirming its determination to push ahead with a painful economic restructuring despite slowing growth. The industry ministry issued orders late Thursday to more than 1,400 companies to cut excess capacity that has led to financial trouble for manufacturers.
Ford Motor Co. is finally becoming the well-rounded company it aspires to be. Almost bankrupt last decade because it relied too heavily on selling big trucks and SUVs in North America, the second-largest U.S. automaker is now making small and midsize cars at a profit and selling them across the globe.
General Motors officials say the Ohio plant that makes the Chevrolet Cruze is shutting down for a week in August to maintain the balance between supply and demand. The Vindicator newspaper reports that the Lordstown plant near Youngstown already had its typical summer shutdown at the beginning of July. But GM announced it will shut again starting Aug. 26 to "align the product with market demands."
Natural gas has stopped flowing from a well that has been ablaze in the Gulf of Mexico and remaining small flames are from gas still in the pipe, regulators said Thursday. The well "bridged over," the line blocked by sand and sediment that filled in the area being drilled, the Bureau of Safety and Environmental Enforcement said in a news release.
North Korea on Thursday threatened to re-station troops at a stalled inter-Korean factory park located just across the tense border separating the two Koreas, as minor scuffles reportedly broke out between delegates from the rivals after failed talks meant to restart the complex.
Orders for long-lasting U.S. factory goods rose in June, bolstered by a surge in aircraft demand and more business spending. The increase suggests companies are more confident in the economy and could boost economic growth in the second half of the year.
Boeing's problems with its 787 have made headlines, but they aren't slowing the big plane maker down. The company's second-quarter earnings topped expectations as it ramped up deliveries of commercial planes like its 737 and its 777. It also raised its full-year profit guidance.
The Chevrolet Impala, long the standard-bearer for mediocre cars from Detroit, has made an amazing turnaround. Consumer Reports magazine has ranked the completely reworked 2014 version of the full-size car as its top U.S. sedan. It's the first time in at least 20 years that a domestic brand has beaten out cars from Germany and Japan.
Spirit AeroSystems announced Thursday it is laying off about 360 salaried support and management employees at its Kansas and Oklahoma facilities. The Wichita-based aircraft parts maker said it remains strong with a "robust backlog" of orders worth about $36 billion.