The United States needs more startup companies and innovation to compete with the rest of the world, General Electric Co. chairman and CEO Jeff Immelt told the University of Wisconsin Board of Regents on Friday. Immelt said the U.S. needs more risk capital to help fuel startups, less government regulation, a greater emphasis on research and development and more cooperation with higher education.
Twinkies are making an early comeback at Wal-Mart stores, and they won't be frozen beforehand. The world's largest retailer says it is selling the snack cakes at about 1,600 stores starting Friday and that about 3,000 of its 4,000 U.S. stores should have them by Sunday morning, a day before Hostess had said the spongy yellow cakes would start hitting shelves nationwide.
Mercury Marine has begun a $20 million expansion of two of its Fond du Lac plants, saying there has been greater demand for its outboard engines amid the slow rebound of the boating industry following some tough years. The company has begun constructing the expansions, which will add a total of 38,000 square feet of manufacturing space to the 1.5 million it already has in the city.
Massachusetts Gov. Deval Patrick says he would back a proposal calling for an "independent scientific study" of the health effects of wind turbines. Critics of the massive energy-producing turbines say the sound and motion of the blades can cause health problems.
Colgate-Palmolive has announced plans to close its Morristown plant. The New York-based consumer products company says that it will lay off 350 employees and move more than 200 nonmanufacturing workers to its Piscataway technology center.
Investigators have found no evidence of mechanical problems with Asiana Flight 214, the head of the National Transportation Safety Board said Thursday, putting the focus of the safety probe into the crash landing at the San Francisco airport squarely on the pilots.
A big jump in gasoline prices pushed wholesale inflation up in June by the largest amount in nine months. But underlying inflation showed only a modest gain. Wholesale prices rose 0.8 percent in June compared with May when prices had risen 0.5 percent, the Labor Department reported Friday. It was the biggest gain since a 1 percent jump in September and was driven by a 7.2 percent surge in gasoline prices.
Washington state and local officials are looking to expedite their permitting work in order to woo Boeing as the company mulls where to build its 777X jetliner. Gov. Jay Inslee said Thursday he wants to utilize a never-used law that would lead to more state and local coordination to help streamline the permitting process.
Disposable flatware maker Trellis Earth Products is moving its manufacturing operations from China to upstate New York, where it will create 189 jobs. Trellis, with headquarters in Portland, Ore., plans to break ground on an $8 million, 80,000-square-foot facility in the Rochester Technology Park by the end of the summer.
Vermont officials say a German light aircraft manufacturer is going to set up operations at the Newport State Airport creating 25 jobs. The expansion was announced Thursday by Gov. Peter Shumlin and the owners of the Jay Peak resort who are leading an economic charge designed to create thousands of jobs in Vermont's Northeast Kingdom.
Documents filed with a state agency show that a carpet company expects to invest $350 million to complete one of two new factories planned for Georgia. The Atlanta Journal-Constitution reports that Engineered Floors filed documents with the Department of Community Affairs saying the project should generate almost $7 million a year in local sales and property tax revenue.
Is that new set of wheels out of your price range? Used cars have gotten more affordable, especially if you're looking for a small car or a hybrid. Used car prices have been falling since 2011, and they're expected to decline gradually for the remainder of this year. That's good news for those joining or re-entering the workforce, or anyone else who might find a payment on a new car too steep.
Louisiana is giving $6 million to help a Russian chemical company build a $1.5 billion fertilizer plant and distribution center in the state. Moscow-based EuroChem, which ranks itself among the world's top 10 fertilizer producers, will choose between two sites — one in Iberville Parish and one in St. John the Baptist Parish.
Microsoft Corp. is reshuffling its business in an attempt to promote faster innovation and a sharper focus on devices and services. The move by the world's largest software maker comes amid lukewarm response to the latest version of its flagship Windows operating system and a steady decline in demand for PCs as people turn to tablets and other mobile gadgets.
China plans to increase the number of cities that restrict vehicle purchases in a bid to fight pollution and traffic congestion, state media reported Thursday. With more than 13 million cars sold in China last year, motor vehicles and their emissions have emerged as the chief culprit for the air pollution in large cities.
Toshiba Corp. said Wednesday its U.S. affiliate Toshiba International Corp. completed an expansion to its inverter plant in Houston, Texas, that it began in August 2012. The expansion is part of a $20 million capital investment in Toshiba International's medium voltage industrial inverter production.
Japanese auto parts maker Denso Corp. will invest approximately $51.4 million (about 5.1 billion yen) to expand the Silao plant, which will start producing air conditioners in October, to accommodate the new line for customers such as Ford Motor Co. and Toyota Motor Corp., as they increase production in the region.
A group of 17 North American retailers and clothing makers has agreed to a five-year safety pact aimed at improving conditions at Bangladesh factories that calls for inspecting all factories that supply their garments within a year. They also agreed to set up basic safety standards within three months and are requiring that the inspection results of the factories be made public.
An original Apple computer from 1976 has sold at auction for nearly $388,000. Known as the Apple 1, it was one of the first Apple computers ever built. It sold on Monday for $387,750 at a Christie's online-only auction. The auction house did not disclose the name of the buyer. The seller was a retired school psychologist from Sacramento, Calif.
Colorado officials are encouraged after wind turbine manufacturer Vestas Wind Systems said it wants to hire more than 100 new people in Pueblo, while Xerox Services in Greeley said it plans to add 1,000 more seasonal employees through the end of the year.