Chinese manufacturing remained weak last month with small and midsized private businesses suffering a bigger share of the pain, two surveys indicated Thursday, adding to an uncertain outlook for the world's No. 2 economy. The official China Federation of Logistics and Purchasing's manufacturing index strengthened slightly to 50.3 from June's 50.1.
With the return of the Datsun, Nissan is making aggressive moves to expand its markets, and the latest numbers show that business for the automaker has been "pretty good." Nissan's quarterly net profits are on the rise, beating forecasts. But here are three reasons why Japan's number two automaker isn't out of the woods yet.
The Europe Union and Chinese solar panel exporters said Saturday that they had reached a settlement in their long trade dispute, with the exporters agreeing to sell their products at a minimum price in the EU market. The agreement ends one of the biggest-ever trade disputes between China and Europe — a row that threatened to escalate into a full-blown trade war involving European wines and to disrupt EU-China relations.
With the discovery of shale gas reserves in Brazil and plans to auction drilling rights there, a delegation is visiting Pennsylvania to see how its drilling boom has turned the state into one of the leading natural gas producers in the U.S. The group of Brazilian business and energy industry professionals hopes to learn from the state's experience and to explore the possibility of exports to Brazil during meetings Wednesday and Thursday.
Ford Motor Co. is finally becoming the well-rounded company it aspires to be. Almost bankrupt last decade because it relied too heavily on selling big trucks and SUVs in North America, the second-largest U.S. automaker is now making small and midsize cars at a profit and selling them across the globe.
North Korea on Thursday threatened to re-station troops at a stalled inter-Korean factory park located just across the tense border separating the two Koreas, as minor scuffles reportedly broke out between delegates from the rivals after failed talks meant to restart the complex.
Japan's trade deficit was a smaller-than-expected 180.8 billion yen ($1.8 billion) in June as the weaker yen boosted exports. The deficit reported by the Ministry of Finance on Wednesday was smaller than most forecasts and down from May's deficit of 996.4 billion yen. Still, it was more than triple the 56.1 trillion yen deficit recorded in June 2012.
A deepening slowdown is challenging Chinese leaders' determination to stick with painful economic reforms they say will deliver more sustainable growth in the long run. The latest gloomy data point: A manufacturing survey released Wednesday showed this month's activity fell to an 11-month low.
Nissan Motor Co. and its French alliance partner Renault SA said Tuesday they have sold a combined 100,000 electric vehicles globally. However, the companies' sales of zero-emission cars have not been as strong as expected due to higher price tags than equivalent gasoline-powered vehicles as well as scarce charging facilities.
The Institute for Supply Chain Management held their 98th Annual International Supply Management Conference & Educational Exhibit April 28th through May 1st in Grapevine, TX. More than 2,000 professionals attended the conference and several “instant” digital polls were held, taking a look at reshoring and tax concerns. Thomas Derry, CEO of ISM, discusses the results of those polls and how they are affecting business and the economy.
Not too long ago, an article outlined some major reasons why reshoring, for all its business viability and value to the American economy, faces real problems with aging machinery and a workforce in need of new, well-trained people. Naturally, these concerns stem from a variety of flaws in the educational and training systems, and from a lack of foresight from manufacturers, who were not prepared for such a wide skills gap.
Hershey's has been making and selling chocolate for more than a century but the company is just getting started in places like China. CBS News' Seth Doane reports on how this classic American brand is changing to appeal to its new customers.
ArcelorMittal, the world's largest steelmaker, has abandoned plans for an $8.5B steel plant in eastern India in the second major blow this week to the government's efforts to lure foreign investment. The company said Wednesday it decided to scrap the steel plant in Orissa state after a seven year delay in acquiring land. Its decision came a day after South Korean steel giant Posco dropped plans for a steel plant in southern Karnataka state.
Any way you look at it, the United States and European Union will remain dominant players in world trade over the next two decades. The real question, says the World Trade Organization in a new report, is how much ground they cede to rising economies like China.
Treasury Secretary Jack Lew says that cyber theft is a real problem in China that "has to stop." It is a competitive world, Lew says, but despite problems, the United States has emerged strongest from the recession, which shows that the United States remains among the strongest and largest economies in the world.
Jobs growth remains weak among the world's 20 biggest economies, where almost a third of the 93 million unemployed have been out of work for more than a year, top labor and development officials reported Wednesday. In a batch of new figures intended to push G-20 governments into action, the U.N.'s International Labor Organization and the Organization for Economic Cooperation and Development warned the rate of employment growth remains low.
General Motors' global sales grew almost 4 percent in the first half of the year, enough to fend off Volkswagen for second place and perhaps close the gap with sales leader Toyota. GM said Tuesday that it sold 4.85 million cars and trucks worldwide from January through June. That puts GM on pace for sales of around 9.7 million for the year.
The Datsun re-launch was no ordinary car launch. Nissan CEO Carlos Ghosn even called it "a historic moment." Datsun, a brand that Nissan phased out in the 1980s, has been re-launched in India with the low-cost Datsun Go. The Datsun Go is priced at 400,000 Indian Rupees, or about $6,700 U.S.
South Korean steel giant Posco has pulled out of a proposed $5.3 billion steel plant in the southern Indian state of Karnataka in a new blow to government efforts to attract foreign investment to spur growth. The company said Tuesday it scrapped the project because of inordinate delays stemming from local opposition to land acquisition for the project.
Authorities in a southern Chinese city on Saturday scrapped a plan to build a uranium-processing plant, one day after hundreds of local residents protested against it because of safety concerns. The city government of Heshan in Guangdong province said in an online statement that it would halt the 37 billion yuan ($6 billion) project by China National Nuclear Corp.
Nissan launched a new Datsun in India on Monday, three decades after shelving the brand that helped win Western acceptance of Japanese autos. The company hopes that bringing back the brand that built its U.S. business will fuel growth in emerging markets with a new generation of car buyers.
The United States needs more startup companies and innovation to compete with the rest of the world, General Electric Co. chairman and CEO Jeff Immelt told the University of Wisconsin Board of Regents on Friday. Immelt said the U.S. needs more risk capital to help fuel startups, less government regulation, a greater emphasis on research and development and more cooperation with higher education.
Disposable flatware maker Trellis Earth Products is moving its manufacturing operations from China to upstate New York, where it will create 189 jobs. Trellis, with headquarters in Portland, Ore., plans to break ground on an $8 million, 80,000-square-foot facility in the Rochester Technology Park by the end of the summer.
Who, at this point, hasn’t heard about Chip Starnes, the American co-owner of a medical supply company, who was held against his will for five days by his own Chinese employees? As with most other news of labor relations coming out of China, many are using this event as another example of why manufacturers need to be moving back to the U.S. as soon as possible. I wouldn’t be so quick to judgment.
Louisiana is giving $6 million to help a Russian chemical company build a $1.5 billion fertilizer plant and distribution center in the state. Moscow-based EuroChem, which ranks itself among the world's top 10 fertilizer producers, will choose between two sites — one in Iberville Parish and one in St. John the Baptist Parish.