by Dee-Ann Durbin, AP Auto Writer DETROIT (AP) — Chrysler's new Jeep Grand Cherokee is a hit with drivers, bringing the automaker within sight of profitability and lifting its share of the U.S. market. Chrysler said Monday it cut its losses in half between the second and third quarters, helped by the strong-selling Jeep.
SYDNEY (AP) — Tests have uncovered oil leaks in three Rolls-Royce engines on Qantas' grounded Airbus A380s, the airline's CEO said Monday, as engineers tried to zero in on the cause of an engine failure on board one of the carrier's superjumbo jets last week. Australia's national carrier grounded its six double-decker A380s, the world's newest and largest airliner, after an engine burst minutes into a flight from Singapore to Sydney last week, scattering debris over Indonesia's Batam island.
WASHINGTON (AP) — The economy generated a net gain in jobs for the first time in five months in October, as businesses stepped up their painfully slow pace of hiring. But the unemployment rate, measured by a separate survey of households, remained stuck at 9.6 percent for the third straight month.
DETROIT (AP) — Trucks outsold cars by the highest margin in nearly five years in October, a sign the economy may be starting to improve. These trucks aren't the tractor-trailers that haul freight. They're pickups, sport utility vehicles, minivans and smaller SUVs. The category — known as light-duty trucks — made up 54 percent of all new U.
CUMMING, Ga. (AP) — Officials in Forsyth County say a worker at the county's water plant died after being trapped under a piece of machinery. Capt. Jason Shivers of the Forsyth County fire department says the man, whose name has not been released, worked for a subcontractor at the plant.
TOKYO (AP) — Panasonic Corp. is investing $30 million in Tesla Motors Inc., the U.S. maker of electric sports cars, eyeing expansion in the global market for green vehicles, both sides said Thursday. Panasonic, Japan's biggest electronics maker, will acquire about a 2 percent stake in Tesla, purchasing Tesla common stock at $21.
TOKYO (AP) — Toyota's second quarter profit more than quadrupled despite lingering worries about the safety of its cars after massive recalls that are still dogging its sales in the U.S. Toyota reported July-September profit of 98.7 billion yen ($1.2 billion) on Friday, up dramatically from 21.
DETROIT (AP) — General Motors has the potential to make huge pretax profits once global auto sales fully recover, the company's chief financial officer said Thursday in a video presentation that was posted online. The video with CFO Chris Liddell's comments is the foundation for GM's "road show" — presentations that start Friday and aim to court investors for an initial public stock offering.
Business leaders in the manufacturing space are pessimistic, with only a third (33 percent) expecting the U.S. economy to improve in the next six months, according to Grant Thornton’s quarterly survey of U.S. business leaders. The hiring outlook for manufacturing companies is also gloomy — only 37 percent of manufacturing business leaders report that their companies will increase hiring in the next six months.
SEATTLE (AP) — Washington voters have rejected an initiative that would have privatized workers' compensation insurance. With more than half of the expected vote counted in Tuesday's election, Initiative 1082 was being defeated by more than 16 points, with 58 percent of voters saying no on the ballot.
WASHINGTON (AP) — Orders to U.S. factories rose broadly in September, propelled by business spending on commercial airplanes, boats and machines. The Commerce Department says that factory orders rose by 2.1 percent in September, the steepest increase since January. Orders were flat in August.
DETROIT (AP) — October auto sales are expected to rise substantially from the same month last year as once-stingy automakers loosened up on rebates and incentives, luring more customers into showrooms. Car price information service TrueCar.com predicts October sales rose 11 percent from a year ago, yet were down 3 percent compared with September.
TUCSON, Ariz. (AP) — Northwest Fire District crews responded to a fire at a Tucson-area cement plantTuesday involving a ten-ton container of asphalt. Northwest Fire spokeswoman Katy Heiden tells The Associated Press the asphalt was in the process of being mixed when a hole developed in the container and some of the leaking asphalt ignited.
DETROIT (AP) — If investors pay what General Motors hopes to get for its stock in a planned IPO, they'll have to buy the logic that the company's stock-market value should be similar to its closest competitor, Ford Motor Co. But Ford is making far more money these days and its U.S. market share is rising while GM's is falling and its new management team has little auto industry experience.
Harley-Davidson Inc.'s restructuring plans are firmly in place and the motorcycle maker is on its way to saving money, being quicker to market with new products and expanding abroad, analysts said Wednesday. The motorcycle maker held an analyst meeting Tuesday in its hometown of Milwaukee to update investors on the first 18 months of its three-to-five year restructuring plan.
DETROIT (AP) — If you're holding out for a bargain on a car, you could be rewarded this month or next. Automakers are more likely to offer promotions on certain makes and models — particularly luxury cars, SUVs and trucks — to clear out their older models and improve their year-end numbers.
NEWARK, New Jersey (AP) — The Girl Scouts of the USA announced Monday its uniforms will continue to be made in America following a public uproar over reports it was considering bids from China or other overseasmanufacturers. The owners of a family-run Passaic, New Jersey, factory that has been the main supplier of Girl Scout uniforms and sashes for years were told recently that the organization would be seeking bids for the job — including from a company in China.
DETROIT (AP) — The sale of General Motors stock is expected to raise about $10 billion in an initial public offering that will reduce the U.S. government's stake in the automaker below 50 percent, three people briefed on the sale said Monday. GM common stock is expected to sell for between $26 and $29 a share when the IPO takes place around Nov.
NEW YORK (AP) — Pharmaceutical giant Pfizer Inc. said Tuesday that revenue in the third quarter jumped 39 percent due to its acquisition of fellow drugmaker Wyeth, but hefty charges related to that $68 billion purchase dragged its profit down 70 percent. The New York-based maker of cholesterol blockbuster Lipitor and impotence pill Viagra says net income was $866 million, or 11 cents per share.
SALT LAKE CITY (AP) — Authorities say 12 workers were hurt when a steam pipe burst at the University of Utah and sprayed scalding water on subcontractors in an underground utility vault. Fire Capt. Michael Harp told The Associated Press the men were blasted by 380-degree steam that erupted from the end of a pipe opened Monday during upgrade work.