Brown and the California business executives he is traveling with on the seven-day mission are keen to attract more Chinese investment. Brown, however, is acknowledging there are limits to the incentives the state will make, telling American executives that keeping the state's budget in balance is a priority.
GM Chairman and CEO Dan Akerson said at a news conference Wednesday that GM was "fully supportive of the Opel turnaround plan" and that the Detroit-based group "must have a strong presence in Europe and especially here in Germany." Akerson added that GM was committed to investing $5.22 billion in Europe by 2016.
National Association of Manufacturers (NAM) Vice President of Tax and Domestic Economic Policy Dorothy Coleman issued a statement in response to the release of the President’s budget for fiscal year 2014. The statement indicates how NAM thinks the budget will influence manufacturing.
Global trade will be weaker than expected this year as European economies struggle with their debt crisis, and will recover only slightly in 2014, the World Trade Organization said Wednesday. The global trade body forecast in its annual report that trade would grow 3.3 percent during 2013, significantly less than the 4.5 percent it had earlier predicted.
Marchionne has jointly managed the two companies since buying a 20 percent stake in 2009. Fiat has since built up its holding in the U.S. company to 58.5 percent. However, his ambitions to fully merge the two companies have been stalled by a dispute between Chrysler's minority shareholder, the autoworkers union pension health trust.
Boeing Co. is expanding in South Carolina and will invest another $1 billion, creating 2,000 new jobs during the next eight years, the aerospace giant announced Tuesday. Company spokeswoman Candy Eslinger said the company that operates a 787 assembly plant in North Charleston will expand its operations.
U.S. employers advertised the most job openings in nearly five years in February, but they boosted hiring at a much slower pace. The figures suggest that companies remain too cautious about the economy to quickly fill open jobs. The number of openings rose 8.7 percent in February from January to a seasonally adjusted 3.93 million, the Labor Department said.
The Oshkosh-based company says it will begin laying off 700 hourly employees in mid-June, with 200 salaried employees to be laid off by the end of July. Company leaders say production is declining as the military continues to wind down from the wars in Iraq and Afghanistan.
The class-action lawsuit was filed in Summit County Common Pleas Court against Goodyear Tire & Rubber Co. on behalf of workers at its factory in Amiens, France. Robert Gary, an attorney who worked on the filing, said the labor dispute was taken to court in Ohio because corporate decisions affecting French workers were made in Akron.
Hostess Brands Inc. won approval Tuesday to sell off the last of its major cake and bread brands, bringing the total proceeds from its liquidation to about $860 million. A U.S. Bankruptcy Court judge in New York approved the two deals, said Hostess spokeswoman Anita-Marie Laurie.
The Kansas City Area Development Council announced that Adrian Steel, a Michigan-based manufacturer of commercial van and truck equipment, is expanding to Kansas City to supply parts for the Ford Motor Company. Adrian Steel will lease 11 acres for a new 32,000-sq.-ft. facility and eight-acre logistics center at the Hunt Midwest Business Center, creating 39 new jobs.
Boeing Co. is expanding in South Carolina and will invest another $1 billion, creating 2,000 new jobs during the next eight years, the aerospace giant announced Tuesday. Company spokeswoman Candy Eslinger said the company that operates a 787 assembly plant in North Charleston will expand its operations. The first of the new 787s made in South Carolina rolled off the assembly line about a year ago.
A Republican state lawmaker is inviting firearms manufacturers to relocate to Rhode Island from other states he says are "hostile" to gun owners' rights. House Minority Leader Brian Newberry of North Smithfield made the invitations Monday to Hartford, Conn.-based Colt's Manufacturing Co. and Beretta USA Corp. in Accokeek, Md.
Alcoa Inc. kicked off earnings season Monday by reporting a larger first-quarter profit than analysts expected, helped by strong demand for aluminum used to make airplanes and automobiles. The company still sees demand for aluminum growing 7 percent in 2013, with gains cutting across many industries.
A group of companies led by Microsoft have called on European authorities to launch an antitrust investigation into Google and its hold over mobile internet usage on smartphones. The "FairSearch" initiative claims Google is acting unfairly by giving away its Android operating system to mobile device companies on the condition that the U.S. online giant's own software applications are prominently displayed.