In his weekly radio and online address Saturday, Obama said Detroit automakers are on track to build cars that average nearly 55 miles per gallon by 2025, doubling current mileage standards.
A GM spokesman said that the company will shut down production of the Volt from until April 23, idling 1,300 workers at the Detroit-Hamtramck assembly plant.
The Pentagon has mothballed a laser-equipped jumbo jet after 15 years and $5 billion worth of research to develop an airborne missile defense system.
Boeing said Air Astana has ordered seven planes, including three of its new 787s. The order would be worth $1.3 billion at list prices.
Union officials say the owners of the Sparrows Point steel mill plan to temporarily idle the tin mill at the financially struggling plant.
North Dakota regulators filed court documents to take over the seed processing company that may owe farmers more than $4 million.
Century says remaining factors include the aluminum market, a competitive labor agreement, and an energy contract.
Hitachi Construction Machinery Co. said it will construct new plants and expand existing plants to increase its production capacity amid robust global demand.
The Detroit Three have spent billions since 2008 to roll out new models such as the Dodge Dart and Chevrolet Cruze.
Court spokesman Joachim Bock said judges dismissed both cases involving alleged patent infringements of the companies' respective slide-to-lock technology on mobile devices.
Health care product maker Abbott Laboratories says it will spend $270 million on a new plant in Ohio and employ 240 workers to make nutritional drinks.
The U.S. is still interested in the Super Tucano aircraft, a State Department official said days after the Air Force said it was rescinding a $354M contract for such aircraft.
Americans' after-tax income adjusted for inflation actually fell in January, which led to a fourth straight month of weak consumer spending.
Chrysler's February sales rose 40 percent from a year earlier as it sold nearly 134,000 new cars and trucks.
China's manufacturing gained momentum in February, helped by strength in new orders, export demand and production, a government survey showed, though inflation pressures remain a concern.
A startup company that planned to manufacture hybrid delivery vehicles is ceasing operations, blaming "onerous" federal requirements executives say thwarted their efforts to secure a $450 million loan.
General Motors and France's PSA Peugeot Citroen, both struggling in Europe, unveiled the details of a strategic alliance that will see the U.S. auto giant take a small stake in Europe's No. 2 carmaker.
Prosecutors say Levick concealed the fact that the goods were intended for shipment to Iran and duped manufacturers, shippers, and distributors about their intended use.
Apple's market capitalization topped $500 billion Wednesday, climbing to a mountain peak where few companies have ventured — and none have stayed for long.