NEW YORK (AP) — W.W. Grainger Inc. surpassed most Wall Street expectations in the first quarter thanks to its ability to raise prices. The industrial supply company reported its quarterly results after the market closed on Monday and in addition to unexpectedly health margins, Grainger boosted its outlook for the year.
TRENTON, New Jersey (AP) — Health care giant Johnson & Johnson said Tuesday its sales rebounded but its profit dropped 23 percent in the first quarter, due to higher expenses, costs of recalls and litigation and a tax gain that boosted results a year ago. Adjusted earnings topped analysts' expectations.
WASHINGTON (AP) — Economists say the U.S. economy is gaining strength despite political unrest in North Africa and the Middle East and last month's devastating earthquake and tsunami in Japan. A survey from the National Association for Business Economics finds that economists are hopeful that the broader economy is substantially improving, with rising employment reported for the fifth quarter in a row.
CHATTANOOGA, Tenn. (AP) — Workers starting production of a cheaper, larger Passat at Volkswagen Group of America's new plant in Chattanooga have a message for car shoppers: It's a winner. But there are questions. The name is familiar but this Passat is different. Why risk buying an unproven car? Why trust workers who have no track record? VW's Chattanooga Operations said in a statement Friday that the first 2012 Passats destined for the marketplace will roll off the line next week to be sold in the second half of this year.
SHANGHAI (AP) — General Motors Co. said Monday it plans to double the number of cars it sells in China to 5 million by 2015. GM China President Kevin Wale said he's optimistic the company can achieve the "ambitious" target, which is more than twice the 2.35 million vehicles it sold in 2010.
TOKYO (AP) — In this country of break-dancing androids and artificially intelligent pets, nuclear cleanup crews on the tsunami-ravaged northern coast are depending on U.S.-made robots to enter damaged reactor units where it is still too dangerous for humans to tread. Utility workers seeking to regain control of the troubled Fukushima Daiichi nuclear power plant are deploying robots from Bedford, Mass.
Caterpillar Inc. quadrupled Doug Oberhelman's compensation last year when he was promoted to the top job at the world's largest maker of mining and construction equipment, but his $10.4 million compensation was less than half what the retiring chief executive received, according to an Associated Press review of a regulatory filing Friday.
TURIN, Italy (AP) — A top ThyssenKrupp executive was convicted of murder in Italy on Friday for a 2007 plant blaze that killed seven workers in Italy, news reports said. The court in Turin sentenced ThyssenKrupp's CEO for Italy, Harald Espenhahn, to 16 1/2 years in prison, as had been requested by the prosecutors, ANSA and LaPresse news agencies said.
GREENVILLE, S.C. (AP) — An electric bus manufacturer has publicly unveiled its first Greenville-made bus, sending the unit to Pennsylvania for further testing. Proterra LLC on Thursday sent its first bus to the Altoona Bus Research and Testing Center at Penn State University to complete testing required to unlock federal subsidies for bus purchases.
NEWARK, N.J. (AP) — An Illinois man pleaded not guilty Thursday to taking restricted military data from his former job at a New Jersey technology company and presenting it at two conferences in China last fall. Sixing Liu, wearing a green prison jumpsuit, did not speak during the brief hearing before U.
The following recalls have been announced: ___ MONKEEZ & FRIENDS WRIST RATTLES AND BABY BOOTIES DETAILS: The knitted-yarn products were manufactured in China and imported by Midwest-CBK Inc. of Union City, Tenn. WHY: The pom-poms attached to the wrist rattles and booties can detach, posing a choking hazard.
TOKYO (AP) — Toyota Motor Corp. said Friday it will maintain output at half capacity in Japan from May 10 to June 3 amid a supply crunch following the March tsunami disaster. The world's No. 1 automaker said it still remained unclear when the company would return to full production in Japan.
WASHINGTON (AP) — U.S. factories likely produced more goods in March for the ninth straight month, as businesses and consumers spent more money. Economists expect that the output of the nation's factories, mines and utilities increased 0.6 percent last month. That would be the biggest increase since December, when severe winter weather caused a spike in output by utilities.
DETROIT (AP) — Ford bowed to pressure from regulators on Thursday and widened a recall of America's top-selling vehicle, the F-150 pickup, because its air bags can deploy at the wrong time. The recall now covers nearly 1.2 million F-150s built for the 2004 and 2005 model years and some built for 2006.
BRUSSELS (AP) — European Union regulators on Wednesday fined consumer products companies Procter & Gamble and Unilever a total of euro315.2 million ($456 million) for fixing prices of powdered laundry detergent together with Henkel in eight EU countries. Germany's Henkel AG escaped a fine because it blew the whistle on the cartel.
BEIJING (AP) — The leaders of the world's largest emerging economies gather this week in southern China for what could be a watershed moment in their quest for a bigger say in the global financial architecture. Thursday's summit comes at a crucial moment for the expanded five-member bloc known as the BRICS, which groups Brazil, Russia, India, China, and, for the first time, South Africa.
SAN JOSE, Calif. (AP) — Xerox Corp. awarded CEO Ursula Burns a compensation package last year that the company valued at $10.6 million, a 7 percent increase from the year before as Burns assumed the title of chairwoman and orchestrated the printer and copier maker's deeper push into technology services.
LAFAYETTE, Ind. (AP) — Subaru of America is halting production on one of its Lafayette plant's production lines for four days due to a parts shortage caused by Japan's devastating earthquake and tsunami. Subaru spokeswoman Jennifer McGarvey tells the Kokomo Tribune that the automaker will halt production on the plant's Toyota Camry line Friday, next Monday and on April 21 and April 25.
ROCHESTER, N.Y. (AP) — General Motors Corp. is investing $100 million to manufacture fuel-injection technology at its Rochester plant in upstate New York, securing hundreds of existing jobs and creating 30 new ones. The automaker says Tuesday that the factory, which employs around 800 people, got the project over a sister plant in the Midwest.