NEW ORLEANS (AP) — V-Vehicle Co., a startup automaker planning to build its vehicle in northeastern Louisiana, will apply again for $321.1 million in government loans, but must come up with another $100 million in private investment and credit to satisfy federal concerns, the acting company head said Tuesday.
PARIS (AP) — Renault SA and Nissan Motor Co. will unveil a parts-sharing and research alliance with German automaker Daimler AG on Wednesday, officials said. The carmakers will hold a joint news conference in Brussels to present the partnership, which will also see the companies exchange small stakes of around 3 percent, two officials close to Renault told The Associated Press on Tuesday.
NEW YORK (AP) — Metal processor Metals USA Holdings Corp. wants to raise about $200 million in an initial public offering this week. The Fort Lauderdale, Fla., company is being taken public by private equity firm Apollo Management LP, which owns more than 90 percent of the company. After the IPO, Apollo would own more than 60 percent of Metals USA.
ST. PAUL, Minn. (AP) — Boston Scientific Corp.'s Guidant LLC division pleaded guilty Monday to two federal misdemeanor counts alleging it failed to properly disclose changes made to some implantable heart devices. The deal calls for Guidant to pay more than $296 million, which federal prosecutors called the largest criminal penalty ever assessed against a medical device company.
CONNERSVILLE, Ind. (AP) — Hundreds of people attended information sessions to learn about possible jobs at a startup company planning to build high-tech police cars in eastern Indiana. Carbon Motors is awaiting approval of a $310 million federal loan before it starts hiring potentially 1,500 workers for the Connersville factory.
MONTCOAL, W.Va. (AP) — Rescue teams planned to search again Tuesday for four workers missing in a coalmine where a massive explosion killed 25 in the worst U.S. mining disaster in more than two decades, though officials said the chances were slim that the miners survived, and the search may not be able to start again until evening.
NORTH CHARLESTON, S.C. (AP) — Crews have reached another milestone as they build Boeing Co.'s new South Carolina plant. The Post and Courier of Charleston reports company executives were on hand Monday to watch the first steel beam placed for the plant which will build Boeing's 787 jetliner.
WASHINGTON (AP) — Toyota Motor Corp. faces a maximum penalty of more than $16 million, a record civil penalty against an automaker, for failing to promptly notify the U.S. government about defective gas pedals among its vehicles. Toyota has recalled more than 6 million vehicles in the U.S.
PARMA, Ohio (AP) — A General Motors metal plant in Ohio has been able to stay strong by focusing on making small car parts that customers never see and are cheaper to ship, officials say. GM has spent $60 million installing new equipment and upgrading machines at the Parma Metal Center, which employs about 1,300.
BATON ROUGE, La. (AP) — A Louisiana company is suing city and parish officials to force them to use a road building material it manufactures. Bear Industries Inc. argues that its product, a calcium sulfate blend, would allow the city-parish to build roads more cheaply, saving taxpayers money.
SAVANNAH, Ga. (AP) — A hearing is scheduled for May 18 in Savannah on the U.S. Occupational Safety and Health Administration's attempt to fine Imperial Sugar Co. $8.8 million. Explosions and a fire killed 14 people and injured many others at Imperial's Port Wentworth, Ga. refinery in 2008. OSHA issued 124 citations at Port Wentworth.
MONROE, La. (AP) — Founder Frank Varasano has been replaced as chief executive officer of V-Vehicle Co., the San Diego-based company created to build fuel-efficient cars, the company says. Ray Lane, a managing partner of V-Vehicle's largest investor — the venture capital firm Kleiner Perkins Caufield Byers LLP — is running the company while officials look for a full-time CEO, according to a brief statement released Friday.
WASHINGTON (AP) — U.S. oil refineries have an ongoing problem with accidents that turn deadly, losing four times as much money from such incidents than refineries in the rest of the world, according to an insurance company report obtained Friday by The Associated Press. The problem is highlighted by a deadly string of explosions, including one that killed four people Friday at a Tesoro Corp.
GREER, S.C. (AP) — Automaker BMW Manufacturing Co. plans to hire about 200 temporary production and logistics workers at its South Carolina plant. The Greenville News reported last week that applicants need a stable work history, a high school diploma or GED and be capable of working 10-hour shifts.
ANACORTES, Wash. (AP) — Three people are dead and four critically injured after an explosion and fire at an oil refinery in Washington state shook homes and shot flames into the night sky. Tesoro Corp. says three people died in the fire at its refinery in Anacortes, Wash., about 70 miles north of Seattle.
WASHINGTON (AP) — The nation's economy posted its largest job gain in three years in March, while the unemployment rate remained at 9.7 percent for the third straight month. The increase in payrolls is the latest sign that the economic recovery is gaining momentum and healing in the job market is beginning.
MONTGOMERY, Ala. (AP) — Montgomery's Hyundai plant reports that it produced more vehicles in March than ever before in a single month. A preliminary report says the plant produced more than 28,000 vehicles last month. That broke the plantrecord of 27,157 set in May 2007.
CREPY-EN-VALOIS, France (AP) — Workers at a factory north of Paris are threatening to set fire to a huge gas tank to protest the planned closure of the factory. About 50 workers at Sodimatex, which makes car rugs, have been occupying the site in Crepy-en-Valois since Thursday. They want to pressure the company for better compensation.
FREMONT, Calif. (AP) — California's sole auto plant shut down Thursday as the last car rolled off the assembly line and thousands of now unemployed workers walked out the doors, some crying. A red Toyota Corolla was the last of nearly 8 million vehicles that have moved through production at New United Motor Manufacturing Inc.
LOS ANGELES (AP) — State regulators have fined Bimbo Bakeries more than $230,000 for violations of health and safety laws at three of its California plants. The California Division of Occupational Safety and Health said Thursday that citations were issued at Bimbo Bakeries in Montebello, Escondido and South San Francisco.