China's manufacturing crept higher in January to the fastest pace in two years, a survey showed Thursday, in another sign the world's second-biggest economy is coming out of a downturn. A preliminary version of HSBC's monthly purchasing managers' index rose for the fifth month in a row to 51.9 in January from 51.5 in December. Readings above 50 on the 100-point scale indicate an expansion.
General Motors Co. is pressing employees in Germany to agree on a turnaround plan for its struggling European unit, warning if there is no deal it would end car production at one of its German plants two years earlier than planned. Opel announced last month it plans to stop producing cars at the plant in Bochum at the end of 2016 when it stops making its current Zafira model.
It’s been my long-held belief that no matter what we automate in manufacturing, or how flexible and effective a supply chain we develop, it’s how we manage the people in the business that will make the difference between good and world class. When it comes to managing the workforce, very few industries are under more pressure than manufacturing.
A new and legally binding international treaty to reduce harmful emissions of mercury was adopted Saturday by more than 140 nations, capping four years of difficult negotiations but stopping short of some of the tougher measures that proponents had envisioned.
China's economy is finally rebounding from its deepest slump since the 2008 global crisis but the shaky recovery could be vulnerable to a new downturn in global trade. Growth rose to 7.9 percent in the three months ending in December, up from the previous quarter's 7.4 percent data showed Friday.
Auto parts supplier Denso Corp. plans to invest nearly $1 billion in North America over the next four years and add more than 2,000 jobs as it works to localize its operations. The investment from the Japanese company was announced Tuesday during press previews for the North American International Auto Show in Detroit.
Fiat, Chrysler and a Chinese automaker have signed an agreement to expand manufacturing in China and produce the Jeep for sale in that market. The companies said the agreement was signed at Chrysler Group LLC's headquarters in the Detroit suburb of Auburn Hills.
Industrial output across the 17 European Union countries that use the euro fell in November for the third straight month, official figures showed Monday, raising fears that the recession in the region has continued into the last three months of 2012.
Apple expects China to overtake the United States as its biggest market, CEO Tim Cook told a Chinese government news agency. "China is currently our second largest market. I believe it will become our first. I believe strongly that it will," the Xinhua News Agency quoted Cook as saying in an interview.
China's trade growth rebounded strongly in December in a positive sign for the gradual and still uncertain recovery of the world's second-largest economy. Export growth more than quadrupled from the previous month to 14.1 percent while imports — which failed to grow at all in November — rose 6 percent in a sign of increasing domestic demand, data showed Thursday.
Yanmar Co., a Japanese maker of agricultural equipment, engines and boats, said Wednesday it will build a new plant in Indonesia to produce diesel engine parts and other products. Yanmar said its move to set up the factory at an industrial complex in eastern Jakarta by investing roughly 7.5 billion yen is aimed at enhancing the company's cost competitiveness through overseas production.
Record unemployment and fraying social welfare systems in southern Europe risk creating a new divide in the continent, the EU warned Tuesday, when figures showed joblessness across the 17 EU countries that use the euro hit a new high. Eurozone unemployment rose to 11.8 percent in November, the highest since the euro currency was founded in 1999, according to the statistical agency Eurostat.
Nissan Motor Co. President and Chief Executive Officer Carlos Ghosn expressed hope that the recent change in leadership in both Japan and China will bring about an improvement in strained bilateral economic relations and a recovery of auto sales in China.
When we think about profitably manufacturing goods, China is at the top of the list, followed closely by Vietnam, Indonesia and Malaysia. But, I am here to report that manufacturing in America is alive, if not exactly well. And, the best of U.S. manufacturers can compete with—and beat—the cost of overseas production.
Hon Hai Precision Industry Co., the Taiwanese contract electronics manufacturer known as Foxconn, is buying an 8.88 percent stake in Woodman Labs Inc., the maker of the GoPro line of camcorders for surfing and other sports, for $200 million.
China's government says it will encourage mergers among producers of solar panels to strengthen an industry that has suffered huge losses due to excess production capacity and price-cutting wars. The announcement, which analysts have expected for months, comes as Beijing faces trade sanctions by the United States and possibly Europe over complaints its support for solar panel producers violates trade rules.
The companies that sent their manufacturing to foreign countries soon discovered there were frustrations and costs they never anticipated. They found that differences in language made communicating product specifications and manufacturing instructions to their offshored sources difficult. They learned that cultural differences made it difficult to motivate the foreign companies to respond quickly to their needs.
German auto supplier Rausch & Pausch is locating a plant in Auburn, Ala. that is expected to create 105 jobs within five years. Chairman Horst Pausch Sr. said the company based in North Bavaria, Germany, plans to have both its U.S. headquarters and a production facility in Auburn. The company produces solenoid valves, control blocks, and other auto parts.
The story of how the United States lost its place in manufacturing dominance and why jobs were shipped offshore is highly relevant for business executives, government leaders, and anyone interested in understanding their true impact on the country and what it will take to reestablish America’s prominence as a manufacturing leader.
The first new Boeing Co. jetliner sold to Iraq in 30 years touched down in Baghdad on Saturday, signaling the country's determination to rebuild its economy after decades of war and sanctions. Iraq is eager to improve its creaky aviation industry, which lags far behind that of its energy-rich neighbors.
Hitachi Ltd. on Thursday held a board of directors' meeting in the Indian capital New Delhi, the first time it has held such a meeting outside Japan since the company's founding in 1910. Holding the meeting in India indicates that Hitachi is planning a strategy targeting the promising market of 1.2 billion people.
Thai agriculture conglomerate Charoen Pokphand Group said Thursday it has agreed to set up a joint venture with China's largest automaker, SAIC Motor Corp., with the aim of opening an auto factory in Thailand in the next two years. The joint venture, under the name of CP Motor Holding Co., will facilitate Thailand's ambitious efforts to become the "Detroit of Asia," said Noppadon Chiaravanont.
China's trade weakened sharply in November, adding to challenges for the world's second-largest economy as a gradual recovery takes shape. Export growth plunged to 2.9 percent over a year earlier from the previous month's 11.6 percent, customs data showed Monday. Imports were flat, down from October's 2.4 percent growth.
A conservative Iranian news website says the number of manufacturing companies in the country facing financial crisis has increased four-fold over the past four years to nearly 1,600. The Monday report by tasnimnews.com reflects the impact of Western sanctions against Iran over its disputed nuclear program. The website says the report has been drawn up by a government department but didn't elaborate.
Apple Inc. on Friday said its latest iPad models will go on sale in China on Dec. 7, followed by the iPhone 5 a week later. China is one of Apple's largest and fastest-growing markets. Analyst Brian White at Topeka Capital Markets said iPhone 5 is launching roughly when he expected it, but he hadn't expected the iPad mini and the fourth-generation, full-size iPad to go on sale in China this year.