South Korea on Tuesday rejected Boeing Co.'s bid to supply 60 fighter jets in the country's largest-ever weapons purchase even though it was the sole remaining bidder, and said it would reopen the tender. Boeing had offered its F-15 Silent Eagle, but South Korean critics have said the warplane lacks state-of-the-art stealth capabilities and cannot effectively cope with North Korea's increasing nuclear threats.
About 500 workers have been temporarily laid off from a northwest Ohio plant that produces the new Jeep Cherokee. Transmission reprogramming and extra test-driving delayed shipment of the vehicles, and inventory from the Toledo facility has accumulated, so some second-shift workers have been idled. The layoffs are expected to last about two weeks.
Wonder Bread is back almost a year after it vanished from shelves. Flowers Foods Inc., which bought Wonder from the now-defunct Hostess Brands, said the bread started returning to supermarket shelves Monday. The company, which also makes Tastykake and Nature's Own bread, snapped up five bread brands after Hostess went out of business late last year.
Yokohama Tire Corporation officials and state leaders gathered Monday for ceremonial ground breaking for a manufacturing facility that is expected to create hundreds of jobs. Gov. Phil Bryant, company executives and others gathered for the ground breaking ceremony in West Point, where the company will manufacture commercial truck tires.
A recreational vehicle production plant in Burley is closing next month and moving its work to Pendleton, Ore. The Times-News reports Indiana-based Dutchmen Manufacturing Inc. announced last week the Burley RV plant will close on Nov. 15, affecting more than 160 employees.
BlackBerry has agreed to sell itself for $4.7 billion to a group led by largest shareholder, Fairfax Financial Holdings Ltd. BlackBerry said Monday that a letter of intent has been signed and its shareholders will receive $9 in cash for each share.
The head of the Environmental Protection Agency says the agency will "effectively shut down" unless Congress approves stopgap funding by Oct. 1. EPA Administrator Gina McCarthy says the agency won't be able to pay employees. She says only a core group of people will remain on duty in case the EPA has to respond to a "significant emergency." The vast majority of employees will stay home.
It was once so addictive it inspired the nickname "CrackBerry." President Barack Obama confessed to being among the millions of devotees who couldn't bear to stop tapping feverishly away on its tiny keyboard. Madonna once said she slept with hers under her pillow. Then came the iPhone.
A key ratings agency has restored General Motors' debt to investment grade status, eight years after the company lost the rating as it spiraled toward bankruptcy protection. The upgrade came on Monday morning, shortly after GM announced plans to buy back high-interest preferred stock from a union retiree health care trust fund for $3.2 billion.
China's manufacturing rose to a six-month high in September, in the latest sign that the world's second biggest economy is gradually recovering from a prolonged slowdown. The preliminary version of HSBC's purchasing managers' index released Monday climbed to 51.2 from 50.1 in August on a 100-point scale. Numbers above 50 indicate an expansion in activity.
Lockheed Martin Corp. said Monday that it was awarded a $3.9 billion deal to provide missile defense equipment for the United States and the United Arab Emirates. The contract includes making up to 110 interceptors for the U.S. Army and 192 interceptors for the UAE. It will also make ground equipment for the UAE. Missile defense systems are able to detect and destroy any incoming missiles.
Alabama Gov. Robert Bentley says two affiliated companies in the automotive supply field will build their first U.S. production facility in Tuscaloosa, creating at least 350 new jobs by 2016. Bentley announced the plans during a Monday morning news conference at the Tuscaloosa River Market in Tuscaloosa.
It carried hippies through the 1960s, hauled surfers in search of killer waves during endless summers and serves as a workhorse across the developing world, but the long, strange trip of the Volkswagen van is ending. Brazil is the last place in the world still producing the iconic vehicle.
A worker at a Florida asphalt plant has been rescued after getting stuck in a tank of tar. The Florida Times-Union reports the 45-year-old man was using a steel cutter inside the tank Friday afternoon at Atlantic Coast Asphalt in Jacksonville.
Employers cut jobs in 20 states last month, suggesting modest improvement in the job market this year is not enough to benefit all areas of the country. The Labor Department said Friday that 29 states added jobs, while Montana showed no net gain or loss in August. Unemployment rates rose in 18 states, fell in 17 and were unchanged in 15.
Police fired rubber bullets and tear gas Monday in the third day of clashes with thousands of garment workers demanding better minimum wages amid escalating tension over the country's main export business. Police said the violence mainly took place in the Gazipur and Savar Industrial zones, just outside the capital of Dhaka.
President Barack Obama applauded the resurgence of auto manufacturing Friday at a Ford Motor Co. plant near Kansas City as he urged Congress not to hamper the nation's economic recovery with threats of a partial government shutdown. "We bet on the America worker, we bet on you and now that bet is paying off," Obama said. "You have trouble making (vehicles) fast enough."
Financing for a $1.1 billion steel mill planned for northeast Arkansas expects to be wrapped up by the end of the year, but until then backers will be lining up customers and suppliers. The Big River Steel plant, which is projected to employ more than 500 people, recently was approved for an air quality permit from the Arkansas Department of Environmental Quality, pending resolution of any objections that are due before mid-October.
Ford says it will sink 700 million Canadian dollars ($680 million) into an assembly plant near Toronto to add models and meet increased demand for vehicles around the world. The investment will preserve the Oakville, Ontario, plant's 2,800 jobs and expand its manufacturing capability, the company said Thursday.
Break out the balloons. Congress moved a step closer Thursday to averting an impending shutdown of the federal helium reserve, a key supplier of the lighter-than-air gas used in a products ranging from party balloons to MRI machines.