Bangladesh has suspended seven inspectors it accuses of negligence for renewing the licenses of garment factories in a building that collapsed in April, killing more than 1,100 people, a top Labor Ministry official said Monday. The official, Mikail Shipar, said a ministry investigation found that the inspectors never even visited the five factories housed in the shabbily built eight-story Rana Plaza building.
Attorneys for Exxon Mobil Corp. and Exxon Pipeline Co. have filed a motion asking for dismissal of a lawsuit by Mayflower residents over a recent oil spill. ExxonMobil Pipeline's Pegasus pipeline ruptured March 29 and spilled thousands of barrels of oil in the town about 25 miles northwest of Little Rock and forced the evacuation of about 20 homes.
The Toyota Corolla, an aging, stodgy but reliable economy car, is getting a radical new look. The world's largest automaker rolled out a new version of the compact Thursday night at a splashy event in Santa Monica, Calif., hoping to shed the old version's low-cost image and attract new, younger buyers to its brand.
Shares of Elan Corp. PLC jumped Friday after Royalty Pharma once again raised its offer to buy the Irish drugmaker in an increasingly bitter takeover fight. Royalty said it will now pay $13 in cash for each Elan share, and it will give stockholders the right to receive up to an additional $2.50 per share in milestone-based payments. That's up from a previous bid of $12.50 per share.
A southeast Missouri business that makes chrome-plated plastic auto parts is receiving state aid to train its employees. Gov. Jay Nixon said Thursday that Missouri is providing up to $809,000 of job training services for 350 employees at SRG Global in Portageville. He says the training incentives are part of a $4.2 million capital investment by the company.
A South Korean company's arraignment on charges of stealing the Kevlar body armor recipe from the DuPont Co. has been postponed. Kolon Industries was set for arraignment Friday in U.S. District Court in Richmond. That hearing has been changed to a status conference.
The government's release Friday of the May jobs report comes at a time of anxiety over the U.S. economy and whether the Federal Reserve will soon scale back its extraordinary support. Economists expect another month of job gains roughly in line with April's increase of 165,000. The unemployment rate is expected to remain at 7.5 percent, a four-year low but still historically high.
The U.S. Treasury Department on Thursday set a price of $34.41 per share for the sale of 30 million shares of General Motors stock. Treasury said the sale will result in aggregate proceeds to the government of $1.03 billion. A United Autoworkers retiree health care trust fund was selling 20 million of its GM shares as well, bringing total sales to 50 million shares.
The Pakistan-based developers of a fertilizer plant have won a southwestern Indiana county's initial approval for the project, weeks after the state pulled its support. Posey County's Board of Commissioners and Council voted last week to give preliminary approval to Midwest Fertilizer Corp. for its proposed plant, including a $1.3 billion bond issue to help finance the project in the county just west of Evansville.
A John Deere plant in Dubuque has laid off 65 employees in its manufacturing section. John Deere spokesman Ken Golden says despite recent strong earnings, the decision is based on sales and demand in its construction and forestry division.
China's workplace safety agency said negligence among factory managers and government inspectors caused "extremely chaotic" work-safety conditions at a poultry plant where a deadly fire killed 120 workers this week. Safety exits were blocked at the Jilin Baoyuanfeng Poultry Co. plant and managers neglected to hold required safety drills or worker education, State Administration of Work Safety head Yang Dongliang said.
Attorneys for a South Korean company accused of stealing the Kevlar body armor recipe from the DuPont Co. are due in federal court in Virginia. Kolon Industries will be arraigned Friday morning in U.S. District Court in Richmond. Kolon is charged in a six-count federal indictment with theft of trade secrets, conspiracy to convert trade secrets and obstruction of justice.
The U.S. economy added 175,000 jobs in May, a gain that shows employers are hiring at a still-modest but steady pace despite government spending cuts and higher taxes. The unemployment rate rose to 7.6 percent from 7.5 percent in April, the Labor Department said Friday.
General Motors CEO Dan Akerson says the company's finances are sound enough to consider paying a dividend or even buying more stock from the U.S. government. The CEO, in comments after GM's annual meeting Thursday, also said the company first has to keep investing in new vehicles and equipment.
Just two days after refusing a government request to recall 2.7 million older-model Jeeps, Chrysler has decided to do two other recalls totaling 630,000 vehicles worldwide. The automaker will recall more than 409,000 Jeep Patriot and Compass small SUVs across the globe from the 2010 and 2012 model years to fix air bag and seat-belt problems.