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Daily industrial news and top headlines for plant and maintenance managers
Germany: Merkel Vows To Avoid Trade War With China
May 28, 2013 1:22 pm | by The Associated Press | News | CommentsGerman Chancellor Angela Merkel said Sunday she would use her country's economic clout to prevent the European Union from imposing punitive tariffs on some Chinese products to avoid a trade war. Germany will push for "very intense talks" between the EU and China to seek a negotiated solution as swiftly as possible, the leader of Europe's biggest economy told visiting Chinese Premier Li Keqiang.
Bridge Collapse A Major Break In Trade Corridor
May 28, 2013 10:17 am | by Donna Gordon Blankinship, Associated Press | News | CommentsFor farmers, business owners and government officials up and down the West Coast, Washington's bridge collapse on Interstate 5 represents much more than a close brush with tragedy. As much as $20 billion in freight travels to and from Canada and along the busy north-south corridor each year.
VW's German Workers Win Raises In Pay Deal
May 28, 2013 10:16 am | by The Associated Press | News | CommentsVolkswagen's German factory workers will get a two-stage raise under a new wage deal reached as the automaker grapples with slipping sales and profit. The company said Tuesday it agreed with the IG Metall union on increases of 3.4 percent from Sept. 1 and 2.2 percent from July 1 of next year through February 2015. The agreement covers 102,000 workers in six west German auto plants.
Trailblazing Israeli Electric Car Company To Close
May 28, 2013 10:09 am | by Jpsef Federman, Associated Press | News | CommentsIt was an audacious idea that came to symbolize Israel's self-described status as "Start-Up Nation," a company that believed it could replace most gasoline-powered cars with electric vehicles and reduce the world's reliance on oil — and all within a few years. But it all came crashing down.
British Firms Face Ethical Dilemmas In Bangladesh
May 24, 2013 2:14 pm | by NBC News | Videos | CommentsFor the first time, Tesco, one of the largest retailers in the world, opened the doors to its factory in Bangladesh. ITV News visited a production center said to be ethically run. It manufactures many of the 40 million garments made in Bangladesh every year for the supermarket giant Tesco.
China, Switzerland To Seal Free Trade Deal
May 24, 2013 2:14 pm | by The Associated Press | News | CommentsChinese Premier Li Keqiang is in Switzerland to seal a free trade pact with the Alpine nation — the first comprehensive agreement his country has reached with a major western economy. Li met with Swiss officials in Zurich on Friday to conclude three years of negotiations.
France Won't Force Companies To Cap Executive Pay
May 24, 2013 2:12 pm | by Sarah DiLorenzo, AP Business Writer | News | CommentsThe French government is trying to woo executives and entrepreneurs, amid concerns that it has antagonized the businesses needed to reinvigorate the economy. Finance Minister Pierre Moscovici announced Friday that the government no longer plans to push for a law to cap executive salaries in the private sector.
Ford To End Auto Production In Australia In 2016
May 23, 2013 12:14 pm | by Kristen Gelineau, Associated Press | News | CommentsFord Motor Co. said Thursday it will close its two Australian auto plants, ending production in the country in 2016, amid soaring manufacturing costs and plummeting sales. The closure of the U.S. automaker's plants in the state of Victoria will mean the loss of 1,200 jobs and will transform the company into an import-only brand in Australia.
Survey: China Manufacturing Contracting
May 23, 2013 12:10 pm | by Joe McDonald, AP Business Writer | News | CommentsA survey shows China's manufacturing contracted this month, adding to signs a fragile recovery in the world's No. 2 economy is slowing. HSBC Corp. said Thursday the preliminary version of its monthly purchasing managers index fell to a seven-month low of 49.6 from April's 50.4 on a 100-point scale. Numbers below 50 show a contraction.
EU Leaders Discuss Fight Against Tax Evasion
May 22, 2013 2:15 pm | by Juergen Baetz, Raf Casert, Associated Press | News | CommentsEuropean Union leaders on Wednesday sought to advance their fight against tax fraud and close the loopholes for large corporations' tax avoidance schemes. European officials say tax fraud costs the 27-nation bloc an estimated 1 trillion euros ($1.3 trillion) a year at a time when much of the region is in recession and governments are forced to tighten their budgets.
Apple CEO: No Plans To Move $100B Back To U.S.
May 22, 2013 1:15 pm | by NBC News | Videos | CommentsApple CEO Tim Cook states to a Senate panel Tuesday that under the current U.S. corporate tax code, he has no plans to transfer $100 billion in company profits to the U.S. from overseas. Some analysts think this might push congress to make some changes in corporate tax code.
Fiat Industrial Considers Making Tax Home In U.K.
May 22, 2013 10:24 am | by The Associated Press | News | CommentsFiat Industrial is considering moving its tax home to Britain after it completes the merger with its U.S.-based subsidiary CNH. The possible move by the maker of heavy trucks, farm and construction vehicles would be a blow to the new Italian government of Enrico Letta, which is struggling to put public finances in order.
Apple Case Seen As Possible Spur To Tax Action
May 22, 2013 10:19 am | by Marcy Gordon, Peter Svensson, AP Business Writers | News | CommentsNow that tech favorite Apple Inc. has been dragged front and center into the debate over the U.S. tax code, lawmakers are hoping that the spotlight on such a high-profile company could be the catalyst for Congress to take action to close loopholes or reform the law.
Record Amount Of Cargo Passes Through GA Ports
May 21, 2013 2:13 pm | by The Associated Press | News | CommentsA record 2.4 million tons of cargo moved through the state's ports in April, Georgia Ports Authority officials announced Monday. April's record is an increase of about 108,530 tons over the same time period last year. In a release, GPA officials said the state's ports also saw a 4 percent increase in container traffic and a 14.1 increase in roll on/roll off cargo in April.
Walmart Pushing For More U.S. Product Makers
May 21, 2013 10:16 am | by Chuck Bartels, Associated Press | News | CommentsWith labor and energy costs on the rise in Asia, Walmart highlighted an effort to promote domestic goods on Monday, including products made by more than 40 Arkansas suppliers. Bentonville-based Walmart is encouraging customers to buy items made in the United States. In the company's home state, the effort includes a red, white and black placard bearing the slogan "Arkansas' Own."
Does France Have The Right Plan To Revive Its Economy?
May 21, 2013 10:14 am | by Sarah DiLorenzo, AP Business Writer | News | CommentsThe man charged with reviving France's shrinking economy and attracting businesses to invest there is gaining a reputation for doing the opposite. As the country's first-ever minister for industrial renewal, Montebourg told the world's largest steelmaker it is not welcome in France and exchanged angry letters with the head of an American tire company he was supposedly wooing.
Apple's Cook To Face Senate Questions On Taxes
May 21, 2013 10:12 am | by Marcy Gordon, AP Business Writer | News | CommentsA Senate panel says Apple Inc. is avoiding paying billions of dollars in U.S. taxes, but the world's most valuable company says it is complying with the laws and pays "an extraordinary amount" in taxes to the U.S. government. Apple Inc. CEO Tim Cook is scheduled to testify Tuesday on Capitol Hill to explain the company's tax strategy.
Canada Trying To Lure Silicon Valley Tech Workers
May 20, 2013 2:35 pm | by The Associated Press | News | CommentsThe Canadian government launched an aggressive campaign to lure Silicon Valley tech workers frustrated by U.S. visa policies northward, just as Congress wrestles with a long-sought overhaul of America's immigration system. Canada's minister of citizenship, immigration and multiculturalism arrived in the San Francisco Bay area for a visit aimed at snapping up talent for Canada's high-tech economy by offering startup entrepreneurs a visa.
Go Inside A Bangladeshi Garment Factory
May 20, 2013 11:59 am | by CNN Money | Videos | CommentsGarment factory owners struggle to shake off the stigma of poor working conditions after the tragic collapse of a rented facility that was not equipped for factory use. Garment workers now question how safe they are at their own factory jobs.
Labor Productivity And Global Competiveness
May 20, 2013 8:00 am | by Simon Macpherson, Senior Director Operations, Kronos EMEA | Articles | CommentsWhen it comes to managing the workforce, very few industries are under more pressure than manufacturing. With tremendous price competition from developing countries and a world where products can be replicated across the globe and transported with ease, manufactures need to look at every aspect of their operations for competitive advantage and productivity improvements.
CAT Purchase In China Gets Huge Price Cut
May 17, 2013 12:42 pm | by The Associated Press | News | CommentsCaterpillar will pay $135 million less for a Chinese mining equipment company after uncovering dodgy accounting practices that inflated its value. Caterpillar announced a non-cash $580 million charge earlier this year related to the sale after uncovering "accounting misconduct" during an internal investigation of ERA Mining Machinery Ltd. and its subsidiary Zhengzhou Siwei Mechanical & Electrical Manufacturing Co. Ltd.
Is It Possible to Bring Manufacturing Back to the U.S.?
May 17, 2013 12:33 pm | by David Mantey, Executive Editor, PD&D | News | CommentsIn the press, “reshoring” is defined as the repatriation of manufacturing operations from a low-cost country, back to the home country. In Washington, it stands as the repatriation of manufacturing operations from China, back to the U.S. But in reality, according to Young, it is the transfer of “some manufacturing production from a low-cost country back to the home country or to another country, low-cost or not.”
Building U.S. Manufacturing Strength
May 17, 2013 11:19 am | Articles | CommentsDouglas K. Woods, President of The Association For Manufacturing Technology, discusses the state of U.S. manufacturing, job development, and what the industry can expect going forward. While today’s manufacturing industry is more sophisticated and high tech than ever before, he says, the industry still needs to address some critical issues to be successful in the future.
Cambodian Shoe Factory Collapses, Kills 2
May 16, 2013 2:26 pm | by Sopheng Cheang, Associated Press | News | CommentsThe ceiling of a Cambodian factory that makes Asics sneakers collapsed on workers early Thursday, killing two people and injuring seven, in the latest accident spotlighting the often lethal safety conditions faced by those toiling in the global garment industry.
Toyota Begins To Export Yaris Out Of France
May 16, 2013 2:24 pm | by The Associated Press | News | CommentsToyota Motor Corp. said Thursday it started manufacturing the Yaris compact car at its French factory for export to North America. Toyota began producing the North American-bound Yaris, known in Japan as the Vitz, at the factory of Toyota Motor Manufacturing France S.A.S. in Onnaing near the city of Valenciennes. It will be the first export of European-assembled models to North America.
