Employers throttled back on layoffs in July, cutting just 247,000 jobs, the fewest in a year, and the unemployment rate dipped to 9.4 percent, its first decline in 15 months. It was a better-than-expected showing that offered a strong signal that the recession is finally ending.
An employee crashed his car through a Pillsbury plant's security gate during a shift change Wednesday morning and then fatally shot a co-worker as others watched in horror, authorities said. The shooting occurred as officers were investigating a report of gunshots outside a home less than a mile away, police said.
The Senate is poised to add $2 billion to the popular "cash-for-clunkers" program after lawmakers agreed to vote on the government car incentives and give shoppers until Labor Day to visit their local dealerships and make a deal. Administration officials have estimated the tripling of the $1 billion program could fund an additional 500,000 new car sales, giving automakers a late summer boost after months of ragged sales.
Trumpeting a "made in America" message, President Barack Obama on Wednesday unveiled a national investment in electric cars as the latest effort to rebuild an economy that keeps shedding jobs. "We know that, even in the hardest times, against the toughest odds, we have never surrendered.
Changes at Tyson Foods Inc. over the past year have begun to help the bottom line of the world's largest meat producer, which posted a strong third-quarter profit on Monday. Tyson earned $134 million, or 35 cents per share, compared with $9 million, or 3 cents per share, a year earlier, mainly through its chicken business.
The former head of the chemical company responsible for the gas leak that killed 10,000 people in India 25 years ago has been "haunted" for years by the world's worst industrial disaster, his wife said Saturday. An Indian court issued a warrant Friday for Warren Anderson, the former head of Union Carbide Corp.