WASHINGTON (AP) — The U.S. economy grew a little faster at the end of 2010 than the government had previously estimated, boosted by more inventory building and business investment in plants and equipment. But rising oil prices will likely limit growth this year. The economy, as measured by the gross domestic product, grew at an annual rate of 3.
DETROIT (AP) — Nissan Motor Co. said Thursday it is considering moving some engine production from Japan to the U.S. because of earthquake damage to a Japanese plant, another illustration of how seriously the disaster has upended the global network of auto supplies. Car factories could face serious shortages of Japanese parts by the middle of next month unless Japan's auto industry can quickly restart its shuttered production following a devastating earthquake and tsunami March 11, experts say.
DETROIT (AP) — United Auto Workers President Bob King on Tuesday criticized the nearly $60 million in stock awards given to Ford CEO Alan Mulally earlier this month. King spoke at a union meeting that sets goals for bargaining a new labor contract with automakers later this year. "I think Alan Mulally is a great CEO, but I don't think any human being in the world deserves that much money," King said at the opening of a three-day UAW convention in Detroit.
SAN FRANCISCO (AP) — Apple Inc. CEO Steve Jobs, who is currently out on medical leave, will be deposed to testify in an antitrust suit related to its iPod music players and iTunes store. In a Monday filing in the U.S. district court for the Northern District of California in San Jose, Magistrate Judge Howard R.
SAN FRANCISCO (AP) -- A judge has temporarily halted California's ambitious program to provide financial incentives for the state's largest polluters to cut their greenhouse gas emissions. San Francisco Superior Court Judge Ernest Goldsmith ruled Friday that the state failed to properly consider alternatives to its so-called cap-and-trade program.
TRAVERSE CITY, Mich. (AP) — Hammered by the auto industry's slump, Detroit saw its population plummet 25 percent over the past decade, according to census numbers released Tuesday that reflect the severity of an economic downturn in the only state where overall population declined. The statistics show that the Motor City's population fell from 951,270 in 2000 to 713,777 last year.
DETROIT (AP) — General Motors Co. said Tuesday it will sell all of its series A preferred shares in Ally Financial Inc., its former finance arm which was bailed out by the federal government, for $1 billion. The shares to be sold represent all of Ally's series A preferred stock outstanding, the automaker said.
TOKYO (AP) — The government expects the economic toll from Japan's earthquake and tsunami could exceed $300 billion, considerably higher than other estimates, a report said Wednesday, Economy Minister Kaoru Yosano will present the estimate of 15 trillion yen to 25 trillion yen ($185 billion to $300 billion) at a Cabinet meeting on Wednesday, the newspaper Nihon Keizai Shimbun said.
NEW YORK (AP) — Stocks climbed Monday on the strength of a major telecommunications deal and signs that that Japan's nuclear crisis was stabilizing. AT&T Inc. said it would buy rival T-Mobile USA for $39 billion, creating the largest U.S. cellphone company. Charles Schwab Corp. said it would buy online brokerage services provider OptionsXpress for $1 billion.
DETROIT (AP) — General Motors Co. on Monday is halting some production and temporarily laying off workers at a Buffalo engine plant, another sign that Japan's disaster is affecting automakers around the globe. GM's Tonawanda plant in Buffalo, New York, makes four- and five-cylinder engines for the Chevrolet Colorado and GMC Canyon compact pickups, which are assembled at a GM plant in Shreveport, Louisiana.
ROCKAWAY TOWNSHIP, N.J. (AP) — Because bomb-disarming robots cost about $140,000 apiece, Bernard Reger's superiors asked him to design a virtual training system that does not require using robots that might get blown up during an exercise or fall off a cliff. The Army already marketed a computer war game, America's Army, as part of a recruiting campaign.
CAMBRIDGE CITY, Ind. (AP) — Officials blame grease that an organic food company is releasing into the sewer system for ruining equipment at an eastern Indiana town's treatment plant. The Western Wayne Sewer District Board says the material from Really Cool Foods has been clogging pumps and damaging sewage equipment at the Cambridge City facility.
BEND, Ore. (AP) — New U.S. Forest Service standards for some firefighting helicopters could require contractors to spend as much as $50,000 per helicopter to upgrade the aircraft. Some in the helicopter industry say the high cost of upgrades could reduce the number of helicopters in the "call-when-needed" pool come fire season.
RIKUZENTAKATA, Japan (AP) — Yasuhiko Konno stands next to a pile of debris that reaches over two stories high. He bows his head for a moment and takes a deep breath. This was his sake brewery, one of the best in Japan, with a history that goes back hundreds of years. A week after he barely escaped a tsunami that flattened it and nearly everything else in sight, he's come back for the first time, and it takes him a second to collect his thoughts.
BRADFORD, Pa. (AP) — Zippo lighters have retained their retro cool even as the tiny northwestern Pennsylvania company that makes them gets ready to celebrate its 80th anniversary and 500 millionth lighter next year. But with pressure increasing on folks not to smoke, Zippo Manufacturing Co.
EVERETT, Wash. (AP) — The Boeing Co.'s newest and largest passenger plane completed its first flight on Sunday, marking another milestone as the company prepares to get the long-haul jumbo jet ready for the market by the end of the year. The 4½ hour-flight, which began in Everett and landed in Seattle, was the first in a months-long test program that will log more than 600 flight hours between now and the fall.
WASHINGTON (AP) — The U.S. Justice Department said Friday that Samsung SDI Co. has agreed to plead guilty in a price-fixing conspiracy and pay a $32 million fine. The Justice Department said Samsung SDI, part of South Korea's Samsung Electronics Co., conspired to fix prices, reduce output and allocate market shares of color display tubes, a type of cathode ray tube used in computer monitors and other devices.
Nissan Motor Co. plans to resume auto and parts production at more Japanese factories next week, but it may be several months before inventories and other elements of the country's auto industry return to normal. Nissan said it will resume production of parts at five plants Monday. It then plans to resume vehicle production Thursday as long as supplies last.
NEW YORK (AP) — GM said Saturday it is cutting unnecessary spending companywide as it assesses the impact of production disruptions from the earthquake and tsunami in Japan. The move will help the automaker preserve cash as it deals with the financial implications from shortages of parts made in Japan, a company spokesman said.
ST. PAUL, Minn. (AP) — 3M Co. has agreed to pay up to $12 million to settle an age-discrimination lawsuit with as many as 7,000 current and former employees. The 2004 lawsuit targeted the company's performance-review system, alleging that older workers were disproportionately downgraded. It also accused the company of favoring younger employees for certain training opportunities that could fast-track them for promotions.