WASHINGTON (AP) -- The federal government slapped a hefty $1.3 million fine on a toy company that sold popular arts-and-crafts beads that were linked to a dangerous drug and sickened about a dozen children. The civil penalty, announced Thursday, marks the third largest toy-related fine issued by the Consumer Product Safety Commission.
SAGINAW, Mich., Oct. 28, 2011 /PRNewswire/ -- Nexteer Automotive, a tier one automotive supplier committed exclusively to wheel-to-wheel advanced steering and driveline systems, today announced a $150 million investment at its Saginaw, Mich., operations. Increasing customer demand for fuel-efficient electronic power steering (EPS) technology is the driving force behind the investment, which will result in the retention of more than 1,000 jobs.
WASHINGTON (AP) -- Americans spent in September at three times the pace of the previous month, even though their incomes barely budged. They financed their spending binges by saving at the lowest level since the start of the Great Recession. Consumer spending rose 0.6 percent last month, the Commerce Department said Friday.
ISLE OF WIGHT, Va. (AP) — Green Mountain Coffee Roasters Inc. is bringing a production and distribution center to southeastern Virginia, investing $180 million and creating as many as 800 jobs over the next five years, the company and state officials announced Friday. The Waterbury, Vt.
NEW YORK (AP) — Appliance maker Whirlpool Corp. plans to cut 5,000 jobs, about 10 percent of its workforce in North America and Europe, as it faces soft demand and higher costs for materials. The world's biggest appliance maker also on Friday cut its 2011 earnings outlook drastically and reported third-quarter results that missed expectations, hurt by higher costs and a slowdown in emerging markets.
DERRY, Pa. (AP) — State police say they're investigating the theft of about $10,000 worth of heavy industrial copper wire from a shuttered industrial tool-making plant in western Pennsylvania. Troopers from Greensburg announced Friday that someone broke into the Kennametal Inc. plant in Derry Township about a week ago.
WASHINGTON (AP) — The history of electric cars is going on display at the Smithsonian's National Museum of American History with two "electrifying cars" from the early 20th century. A 1904 Columbia electric runabout went on display Thursday with a 1913 Ford Model T touring car.
WILMINGTON, Del. (AP) — Attorneys for Intel Corp. asked a federal judge in a hearing in Delaware Thursday to dismiss several claims in an antitrust lawsuit filed against the computer chip maker by New York state's attorney general. The lawsuit, filed in November 2009, alleges that Intel paid billions of dollars in kickbacks to computer makers in order to dominate the market for microprocessors, and that it retaliated against manufacturers who did too much business with its competitors, particularly Advanced Micro Devices Inc.
DETROIT (AP) — Moody's Investors Service raised the corporate debt ratings for General Motors Co. and Ford Motor Co. on Thursday, citing new labor agreements and improvements in their finances. The ratings were raised from "Ba2" to "Ba1," which is one notch below investment grade.
STOCKHOLM (AP) — Two Chinese companies have reached a tentative deal to take over struggling car maker Saab for euro100 million ($141 million), the company's owner Swedish Automobile said Friday. The move by Zhejiang Youngman Lotus Automobile Co. and Pang Da Automobile Trade Co.
AKRON, Ohio, Oct. 28, 2011 /PRNewswire/ -- The Goodyear Tire & Rubber Company (NYSE: GT) today reported that its third quarter 2011 sales and earnings were the best in its history. Quarterly net sales exceeded $6 billion for the first time ever. "I am very pleased with our performance," said Richard J.
GASTONIA, N.C. (AP) — A Spanish manufacturer of plastic packaging for cosmetic, food and pharmaceutical customers plans to open a Gaston County plant and hire about 130 workers in the next four years. Gov. Beverly Perdue's office said Wednesday that CTL Packaging will pay an average wage of more than $42,000 a year plus benefits.
WASHINGTON (AP) — The U.S. economy grew modestly over the summer after nearly stalling in the first six months of the year, lifted by stronger consumer spending and greater business investment. The Commerce Department said Thursday that the economy expanded at an annual rate of 2.
TORONTO (AP) — Research In Motion said it is delaying the launch of an upgraded operating system for its struggling PlayBook computer tablet until February 2012, yet another setback for a tarnished company struggling to compete with Apple. David Smith, RIM's senior vice president, said in a post on the company's blog late Tuesday that the new version of the operating system isn't up to its standards at this point.
LINDON, Utah (AP) — A steel worker has been critically injured at a plant in Lindon, Utah, after a 25-ton steel girder hit him. The Daily Herald of Provo reports (http://bit.ly/u5Umd4 ) the accident happened when the girder fell Tuesday night. Lindon Police Chief Cody Cullimore (CULL'-ah-more) says the man has several broken ribs, damaged vertebrae and possibly a punctured lung.
Toyota Motor Corp. said Thursday it will reduce vehicle output in Japan, the United States and five other countries for six days from next Monday as flooding in Thailand could hamper the supply of auto parts. The leading automaker said it will slash production next week in the seven countries, following the halt of operations at its three factories in Thailand since Oct.
DETROIT (AP) — Rising sales and higher prices helped push Chrysler Group LLC back into the black in the latest quarter, another sign that the once-troubled company is turning around under its new Italian management. The Auburn Hills, Michigan-based Chrysler reported Thursday that its net income was $212 million for the July-September period, its second quarterly profit this year and only the second since 2006.
INDIANAPOLIS (AP) — Reports say a California startup company will create more than 1,000 jobs in Indianapolis LiTEBOX Inc. chief executive Bob Yanagihara told the Indianapolis Business Journal and WRTV-TV on Tuesday that his company expects to hire 1,200 employees, mostly at a 125,000-square-foot factory on the city's northwest side that will produce trucks with giant video screens.
HELSINKI (AP) — Nokia Corp. on Wednesday unveiled its first Windows cell phones, in a bid to recapture lost ground to chief rivals in the tough top-end smartphone market. Nokia's Lumia 800, priced at some euro420 ($580), and Lumia 710 with a price tag of euro270, are the Finnish cell phone maker's first models based on Microsoft Corp.
WASHINGTON (AP) — Companies ordered more heavy machinery, computers and other long-lasting manufactured goods in September, a positive sign for the slumping economy. An increase in demand for those types of durable goods suggests businesses are sticking with investment plans, despite slow growth and dismal consumer confidence.