Chrysler will start selling a completely new midsize car during the first quarter of next year, company executives confirmed on Tuesday. The replacement for the aging Chrysler 200 and Dodge Avenger is badly needed for the company to compete with the likes of the Toyota Camry and Honda Accord in the most popular part of the U.S. auto market.
Japanese auto supplier Diamond Electric Manufacturing Co. has agreed to plead guilty and pay a $19 million criminal fine for its role in a price-fixing scheme. The U.S. Department of Justice said Tuesday that Diamond Electric rigged bids and fixed prices on ignition coils it sold to Ford Motor Co., Toyota Motor Corp. and others. The conspiracy lasted from 2003 through 2010.
Vermont Gov. Peter Shumlin is urging IBM Corp. to make public the number of employees it laid off last month at its Vermont facilities. And the governor says if he and his lawyer conclude the Vermont Public Records Act requires it, his administration will release the number whether IBM wants to or not.
Construction on a $700 million expansion at Valero Refinery's St. Charles Parish plant is expected to begin sometime in late 2015 or early 2016. The plant occupies roughly 1,000 acres along the Mississippi River in Norco. The expansion will include construction of a large methanol unit, designed to compress natural gas into liquid in order to manufacture chemicals and plastics.
An Illinois-based food service and food packaging manufacturer says it's expanding its facilities in North Carolina's Lenoir and Iredell counties, with additional plans to create 77 jobs. North Carolina Gov. Pat McCrory's office announced Tuesday that Pactiv LLC will invest more than $9 million in its facilities in Kinston and Mooresville.
Argentina's state-controlled YPF oil company has persuaded Chevron Corp. to sign a long-sought deal to invest $1.24 billion in developing the South American country's shale oil deposits. The joint venture adds up to $1.5 billion overall, the first major foreign oil investment in Argentina since President Cristina Fernandez seized control of YPF from Spain's Grupo Repsol last year.
A Chicago law firm has taken steps to sue Boeing Co. on behalf of 83 people who were aboard the Asiana Airlines flight that crash-landed in San Francisco earlier this month, alleging that a malfunction of the plane's auto throttle may have caused the crash.
Ford Motor Co. is offering free upgrades to U.S. and Canadian hybrid customers to improve their fuel economy. The company plans to recalibrate the vehicle control systems on 77,000 Ford C-Max and Fusion hybrids and Lincoln MKZ hybrids from the 2013 model year.
Jobs growth remains weak among the world's 20 biggest economies, where almost a third of the 93 million unemployed have been out of work for more than a year, top labor and development officials reported Wednesday. In a batch of new figures intended to push G-20 governments into action, the U.N.'s International Labor Organization and the Organization for Economic Cooperation and Development warned the rate of employment growth remains low.
Delta Faucet Co. plans to increase production at a southeastern Indiana factory and add up to 160 workers in the coming year. Company officials say it will spend about $12 million to renovate and equip its factory in Greensburg. Delta now makes kitchen and bathroom faucets, shower heads, toilets and other accessories.
State environment officials have reached a settlement with the operator of a natural gas processing plant in southeastern New Mexico over alleged pollution violations. The Environment Department says the settlement with Occidental Permian Limited Partnership is worth more than $920,000. Most of the money will go toward installing pollution controls at the company's plant near Hobbs.
United States factories cranked out more business equipment, home electronics and autos in June, boosting manufacturing output for the second straight month. The gains suggest factories may be starting to recover from a slow start this year.
Chrysler Group is recalling 45,961 Ram trucks because their electronic stability control systems may not turn on when the vehicles start. Ram 1500 4x4 trucks built between June 26, 2012, and Feb. 5, 2013, are involved in the recall. Chrysler says a software problem may disable the electronic stability control system when the pickups start.
Federal workplace safety authorities say an upstate New York copper wire manufacturer has agreed to pay nearly $33,000 in fines after an explosion injured an employee. The Occupational Safety and Health Administration says Tecnofil Chenango SAC will also take additional steps to address safety concerns.
General Motors' global sales grew almost 4 percent in the first half of the year, enough to fend off Volkswagen for second place and perhaps close the gap with sales leader Toyota. GM said Tuesday that it sold 4.85 million cars and trucks worldwide from January through June. That puts GM on pace for sales of around 9.7 million for the year.
Honeywell International Inc. has announced plans for $208 million in expansion projects at its Louisiana production sites in Baton Rouge, Shreveport and Geismar. Gov. Bobby Jindal announced the plans Monday with Honeywell Performance Materials and Technologies CEO Andreas Kramvis. The expansion projects are estimated to create 42 new jobs at the sites, with an average salary of $68,300.
BP has set up a hotline for people to report alleged fraud involving claims arising from the company's massive 2010 oil spill in the Gulf of Mexico. Monday's launch of the hotline comes a week after a federal appeals court heard BP's argument that it has been forced to pay hundreds of millions of dollars in settlement money to businesses with inflated or fictitious claims.
About 575 U.S. salaried workers are retiring as part of Pratt & Whitney's voluntary separation program, the jet engine manufacturer said Monday. Most of the employees left the company on Monday and more departures will be necessary as the subsidiary of United Technologies Corp. grapples with the winding down of military operations in Afghanistan and what a spokesman called uncertainty in the commercial jet engine spare parts business.
Honeywell said Monday that it has joined the investigation into last week's fire on a 787 at London's Heathrow Airport amid reports that investigators are eyeing whether its emergency transmitter played a role in the incident. The emergency location transmitter sends a signal with the plane's location if it's involved in a crash. It's meant to help rescuers find the plane.
Unemployment levels in the world's advanced economies could improve next year, even though the number of people without work will likely continue to rise in several European countries, a leading international economic body said Tuesday.