Kaeser Compressors, Inc., a leading worldwide manufacturer of industrial air compressors, blowers, and related equipment, opened a new factory-direct facility to support Kaeser's industrial and commercial customers in the greater Philadelphia area.
Chief executives for the largest U.S. companies are more optimistic about sales over the next six months and plan to add more workers. The Business Roundtable said Wednesday that its April-June quarterly survey found 32 percent of its members expect to expand payrolls in the next six months.
General Motors says it's making progress cutting costs to improve profit margins. The company's product development chief, Mary Barra, tells analysts GM is saving money by using the same parts on many vehicles. It also has moved parts suppliers closer to factories to cut shipping costs.
Italian carmaker Fiat says it will temporarily stop production at some European car plants in the coming days due to insufficient deliveries of plastic parts. Fiat said in a statement Wednesday that more than 5,500 vehicles can't be completed due to missing components from the Italian supplier Selmat, creating an "unmanageable" backlog.
Plant chief Takeshi Takahashi told journalists given a tour of the plant Wednesday that workers have cleaned up much of the debris in their work areas, but that the priorities are keeping the plant stable and working toward shutting it down — a process that operator Tokyo Electric Power Co. estimates will take 40 years.
BP says the United States saw its biggest-ever annual increase in oil production in 2012, while the world's demand for energy grew at a slower pace than the year before. In its annual Statistical Review of World Energy released Wednesday, BP PLC says the U.S. produced 8.9 million barrels a day, up 13.9 percent from 2011.
British drugmaker GlaxoSmithKline PLC says it dismissed one employee and a second has resigned in the wake of a scandal over misrepresented data in a research paper published in 2010. The company says its investigation of recent allegations of questionable data has established that some information in the paper had been misrepresented.
Although it took most proponents by surprise, the deal was in the bag before President Barack Obama and Chinese President Xi Jinping arrived at the California desert retreat where they announced it over the weekend. And for China, it came only after a change in financial incentives made it more lucrative to get on board.
The Equal Employment Opportunity Commission filed lawsuits Tuesday against discount retailer Dollar General Corp. and a BMW manufacturing plant in South Carolina over their use of criminal background checks to screen out job applicants or fire employees.
A Japanese carrier's Dreamliner had engine trouble before takeoff Wednesday, a day after a rival airline had a problem on another 787 plane. Neither problem was with the lithium-ion batteries that were overheating and resulted in the Boeing Co. aircraft being grounded for four months.
Officials at Yamaha Motor Manufacturing Corp. say they've opened a second assembly plant in Newnan and will hire 100 employees to work on a new utility vehicle. The Japanese company also said this week that it has completed transferring all of its ATV production to the Coweta County plant south of Atlanta.
Union members have ratified a six-year labor contract at Caterpillar Inc.'s plant in South Milwaukee. The new contract freezes wages and pensions but includes a $4,000 signing bonus and shortens temporary layoffs. Caterpillar says the Peoria, Ill.-based company is pleased to have reached what it believes is "a fair, reasonable and comprehensive agreement."
April U.S. manufacturing technology orders totaled $372.50 million according to AMT — The Association For Manufacturing Technology. This total, as reported by companies participating in the USMTO program, was down 26.6 percent from March and down 12.6 percent when compared with the total of $426.44 million reported for April 2012. With a year-to-date total of $1,650.91 million, 2013 is down 7.0 percent compared with 2012.
More Americans are quitting their jobs, suggesting many are growing more confident in the job market. The Labor Department said Tuesday that the number of people who quit their jobs in April jumped 7.2 percent to 2.25 million. That's just below February's level, which was the highest in 4 ½ years.
Connecticut's leading role in aviation has never been disputed, but legislators have passed a bill insisting that a Connecticut aviator flew two years before the Wright brothers at Kitty Hawk, N.C. The measure is the latest twist in an effort to credit the first successful airplane flight to German-born aviator and Bridgeport resident Gustave Whitehead.