Malin Rising, Associated Press STOCKHOLM (AP) — Saab has secured a euro25 million ($36 million) bridge loan from Gemini Investment Fund Ltd. that will help the troubled carmaker stay afloat in the short term, its owner said Wednesday. The loan is the latest in a string of deals presented this week to solve the liquidity crisis that forced Saab to stop production at its plant in southwestern Sweden and delayed its employees' June pay checks.
WASHINGTON (AP) — President Barack Obama says it would defy common sense for Boeing Co. to have to shut down a new aircraft plant or lay off workers as a result of a labor dispute with the government. Obama says companies need to have the freedom to relocate work, though they must follow the law when doing so.
ASHEVILLE, N.C. (AP) — The Buncombe County Board of Commissioners has approved the purchase of the former Volvo plant in Skyland for $7 million. The Asheville Citizen-Times reported Wednesday that the acquisition is intended to help lure a new manufacturer to replace the Volvo Construction Equipment plant that closed last year.
June 29, 2011 TOKYO (AP) — Toyota Motor Corp. said Wednesday it will recall about 82,200 hybrid SUVs in the U.S. due to computer boards with possible faulty wiring. The car giant said the recall will involve Highlander and Lexus brand hybrid SUVs from its 2006 and 2007 lines.
TOKYO (AP) — Japan's industrial production posted the sharpest rise in nearly six decades in May but was still below pre-quake levels as factories toiled to reverse the sharp downturn triggered by the March 11 disaster. Industrial output rose 5.7 percent in May from the previous month, the government said Wednesday.
SPRINGDALE, Arkansas (AP) — Five workers exposed to chlorine gas at a Tyson Foods Inc. chicken processing plant are in intensive care and about 50 others remain hospitalized after an accident caused by the unintentional mixing of two chemicals, the company said Tuesday. The accident Monday at the plant in Springdale resulted in the evacuation of about 300 workers, 173 of whom were treated at hospitals.
TOLEDO, Ohio (AP) — Auto parts maker Johnson Controls Inc. says it will upgrade and expand a northwest Ohio battery plant, a move that will add 50 jobs. The Milwaukee-based company plans to invest $138.5 million to convert the factory near Toledo so it will produce batteries for more fuel-efficient vehicles, including those using start-stop technology.
FORT WASHINGTON, Pa. (AP) — Johnson & Johnson on Tuesday announced another Tylenol recall due to a musty moldy odor linked to a trace chemical. The company's McNeil Consumer Healthcare unit is recalling one product lot of Tylenol Extra Strength Caplets made in February 2009 and distributed in the U.
FULTON, Miss. (AP) — The Occupational Safety and Health Administration has cited Graham Lumber Co. for 15 safety and health violations following the March death of a worker who was electrocuted. OSHA says the worker was killed at the company's Fulton sawmill while troubleshooting a malfunctioning starter inside a motor power control center.
NEW YORK (AP) — If you're a U.S. consumer, why would you be confident? Following a string of bad economic news, consumer confidence fell to a seven-month low in June on continuing worries about high unemployment and stagnating wages, according to a report released Tuesday by a private research group.
WASHINGTON (AP) — The Obama administration and lawmakers on Capitol Hill have broken a stalemate that could clear the way for Congress to vote on three key free trade agreements, according to congressional officials and business representatives briefed on the plan. The deal would allow for a renewal of retraining assistance for American workers who lose their jobs because of foreign competition.
WASHINGTON, June 28, 2011 /PRNewswire-USNewswire/ -- Today marks the day that consumers will see a new generation of safer cribs for sale at local and national retail stores. Safer cribs will mean a safer sleep for babies across the country. On December 15, 2010, the U.S. Consumer Product Safety Commission (CPSC) voted unanimously to approve new mandatory crib standards, establishing the most stringent crib safety standards in the world.
NEW ORLEANS (AP) — Textron Inc. said Tuesday that the U.S. Army exercised a contract option worth $49.6 million for Textron's marine and land systems unit to supply it with 65 additional M1117 armored security vehicles. Manufacturing of the wheeled armored vehicles will take place at Textron facilities in the New Orleans area.
MELROSE PARK, Ill. (AP) — Gov. Pat Quinn has signed a major overhaul of Illinois' workers compensation system. Quinn signed the legislation Tuesday at a Navistar plant in the Chicago suburb of Melrose Park. Quinn says the bill would help companies large and small save money and be more competitive, while protecting workers injured on the job.
FLINT, Mich. (AP) — U.S. Transportation Secretary LaHood plans to visit General Motors Co. plants in Flint and Bay City on Wednesday to discuss the Obama administration's manufacturing job programs. The stops are in the morning at the Flint plant and in the afternoon at the Bay City plant.
NIAGARA FALLS, N.Y. (AP) — A maker of "green" packaging material will build a new facility in western New York, creating 108 new jobs. Gov. Andrew Cuomo announced that Norampac, a division of the Cascades packaging and paper products company, will invest $430 million to build the facility in Niagara Falls.
TOKYO (AP) — Japanese automakers' global vehicle production was weaker overall in May due to the lingering impact from the March 11 earthquake, but Nissan showed resilience with an increase in output. Toyota Motor Corp. reported Tuesday that Japan production in May fell 54.4 percent to 107,437 vehicles while its global production declined 49.
STOCKHOLM (AP) — Crisis-hit car maker Saab has struck a $40 million deal to sell and lease back property in an effort to improve its ailing finances that have forced it to halt production and withhold workers' salaries. If approved by Swedish and European regulators, Tuesday's property deal could help Saab ease a severe cash shortage that has pushed the loss-making Swedish brand closer to bankruptcy.
WASHINGTON (AP) — President Barack Obama will tout manufacturing as a key to America's economic success during a trip to Iowa, as he seeks to counter criticism of his policies by Republican presidential candidates who have descended on the state. The trip Tuesday is Obama's first to Iowa since announcing his re-election campaign earlier this year.
CHICAGO (AP) — Boeing Co. says its new 787 is beginning the final phase of flight testing and repeated that it should be ready for delivery in August or September. The final flight testing includes simulations of abnormal operations. It also tests long-range flying, including the 787's ability to divert to a far-away airport on just one engine.