Michael Dell may have to hike the price he's willing to pay if he wants to take the computer company he founded private, thanks to competition from two new acquisition offers. A special committee of independent Dell Inc. directors said it will negotiate with buyout specialist Blackstone and activist investor Carl Icahn over bids that rival an offer of more than $24B.
AK Steel Holding Corp. on Friday projected a larger-than-expected first-quarter loss, saying that a previously expected seasonal increase in spot demand for steel hasn't materialized. The West Chester, Ohio based company produces flat-rolled carbon, stainless and electrical steel products for a range of industries, including automotive, construction and infrastructure, manufacturing and electricity.
Is Michael Dell's attempt to gain more control over his company about to turn into a financial tug-of-war? The answer could come Friday. That's the end of a 45-day period that Dell Inc.'s board of directors set to allow for offers that might top a Feb. 5 deal to sell the personal computer maker to CEO Michael Dell and a group of investors for $24.4 billion.
BP asked a federal judge Thursday to sanction its cement contractor on the ill-fated Deepwater Horizon drilling project, accusing the company of withholding critical evidence that could have been used at the ongoing trial over the nation's worst offshore oil spill.
Honda Motor Co.'s luxury Acura brand is recalling 76,000 TSX sedans in 22 cold-weather states because corrosion could cause them to stall. TSX sedans from the 2004 through 2008 model years are included in the recall. Acura says that in places where road salt is heavily used, salt and water can saturate the carpet under the dashboard that covers the vehicle's electrical control unit.
German engineering company Bosch said Friday that it is abandoning its solar energy business, because there is no way to make it economically viable amid overcapacity and huge price pressure in the industry. The solar power industry has been hit by falling subsidies, weaker sales and increasingly stiff price competition, especially by Chinese manufacturers.
Coca-Cola says it's cutting 750 jobs in the U.S. as it continues to streamline its business. The world's biggest beverage maker says the jobs cuts will be across the board and that affected individuals will be notified in coming weeks. The cuts represent roughly 1 percent of the company's workforce of 75,000 in North America.
Apple's iPhone is outdated, according to the chief executive of BlackBerry-maker Research In Motion Ltd. Thorsten Heins made the comment Thursday on the eve of the much-delayed launch of the new touchscreen BlackBerry in the United States. AT&T begins selling the Z10 touchscreen BlackBerry on Friday, more than six weeks after RIM launched the devices elsewhere.
Employees at General Motor Co.'s Opel troubled German plant in Bochum have rejected a redevelopment plan, which means production there could end by late 2014. German news agency dpa said Thursday that a majority of the Bochum plant's workers rejected a redevelopment plan that would have left only 1,200 jobs there after the year 2016.
Mercedes-Benz is planning to build an automotive parts staging facility in Vance that will employ about 500 people. The Tuscaloosa News reports that site preparation for the 900,000-square-foot facility has begun at Mercedes-Benz U.S. International, the German automaker's plant near Tuscaloosa.
Aircraft manufacturer Beechcraft announced Thursday that it has filed a lawsuit to contest the U.S. Air Force's decision to award a contract for a light air support plane to Sierra Nevada Corp. The suit, filed in the U.S. Court of Federal Claims in Washington, D.C., is the latest development in a bitter, high-stakes competition that has taken nearly three years with legal challenges from both sides.
As they struggle to get ahead, many low-wage workers are not taking advantage of job training or educational programs that could help them make the leap to better-paying jobs. They are often skeptical about whether such programs are even worth the trouble, a new survey shows.
A Georgia-based manufacturer says it will invest $12 million in a metal processing plant at Chaffee Crossing in Fort Smith. The Fort Chaffee Redevelopment Authority approved a plan Thursday to donate 11 acres of land for the new plant to be built by Phoenix Metals Co.
IRISS, a leader in the industrial infrared (IR) window market, announced today that they are the only industrial-grade IR window manufacturer to receive formal CSA certification to the C22.2 No. 14-10 Industrial Control Equipment – 11th Edition Canadian standard.
A federal judge conducting a trial to assign fault for the nation's worst offshore oil spill dismissed claims Wednesday against a BP contractor and the company that made a key safety device on the drilling rig that exploded in the Gulf of Mexico, triggering the disaster.
The United States isn't producing enough qualified workers to meet the future needs of the mining and energy sectors, from coal digging and gas drilling to solar and wind power, a new report says. The report released Thursday by the National Research Council urges new partnerships to tackle the problem of retiring Baby Boomers who cannot readily be replaced.
A Colorado company vowed to begin making ammunition magazines outside the state within the next month following the passage of sweeping gun control laws. Magpul Industries said Wednesday it will make good on its previous threat to move to another state, the Denver Post reported.
The president of struggling Renesas Electronics Corp. said Thursday that the chipmaker is in talks with overseas companies on selling its loss-making mobile device chip operations as part of efforts to streamline its business. Tetsuya Tsurumaru added, however, that the company has not ruled out the possibility of negotiations with domestic firms over the sale of the operations of wholly owned subsidiary Renesas Mobile Corp.
Caterpillar Inc. said Wednesday that global sales of its heavy equipment fell 13 percent for the three-month rolling period that ended in February, hurt by a steep drop in Asia Pacific demand. That followed a 4 percent decrease for the three months that ended in January and a 1 percent slide for the three months that ended in December, the company said in a Securities and Exchange Commission filing.
As a result of its ULE initiative, Garland has become the first manufacturer in the roofing industry to have an extensive product line of modified bitumen membranes and metal roof and wall panels earn third-party validation for their recycled and/or bio-based content.