A deal to establish a joint venture with state corporation Rostec could lead to some 100 turboprops, valued at US$3.4 billion at list prices, being built for the Russian market. The deal, which local media in Russia says will see production start this year, flows from a series of preliminary agreements signed last August.
Ford Motor Co, which exports its Figo small car and EcoSport compact sport-utility vehicle from India, plans to source a new generation of small-capacity petrol engines, called Dragon, from its local unit.
In the interview aired Sunday night on German public television broadcaster ARD, Snowden said if German engineering company Siemens had information that would benefit the U.S., but had nothing to do with national security needs, the National Security Agency would still use it.
Previously, IMPO has covered the reshoring and nearshoring trends that are bringing jobs back to the U.S. and bordering countries. These trends are prevalent in the manufacturing production sector, as companies are finding the increasing costs of doing business abroad a deterrent to outsourcing. But according to the Information Services Group (ISG), this trend is not the same for engineering services.
The downturn began Thursday following signs that manufacturing was contracting in China, a major importer of raw materials and a key driver of global economic growth. The values of currencies in several emerging markets have dropped.
British Prime Minister David Cameron says efforts to eradicate poverty must go hand-in-hand with curbing global warming. The comments came Friday at an Associated Press debate looking ahead to the expiration of the United Nations' "millennium goals."
PepsiCo said it plans to invest $5 billion in the country over the next five years, with the funds going toward efforts such as the expansion of its production lines and delivery infrastructure, and the strengthening of research and development capabilities.
With expectations that economic growth will continue in 2014, U.S. industrial manufacturers expressed optimism about the U.S. economy, and more importantly, toward the broader world economy, which has reached the highest level since the fourth quarter of 2010, according to the Q4 2013 Manufacturing Barometer, released today by PwC US.
Chinese manufacturing looks set to contract in January for the first time in six months, according to an survey released Thursday, further evidence of a slowdown that complicates reform efforts in the world's No. 2 economy.
With the worst of the global financial crisis behind them, CEOs are ready to move on from the fight for survival their businesses have been in for the past few years, a survey found Tuesday.
Chinese state media say police seized almost 60,000 suspects involved in intellectual property infringement cases with a total estimated value of $28 billion in 2013. The official Xinhua News Agency says more than 90 million tons of counterfeit and substandard goods were confiscated last year, and more than 1,000 criminal networks smashed.
The European Union says it is suspending a part of the free trade negotiations with the United States to hold a three months-long public consultation amid worries about the deal's proposed rules for investment. EU trade chief Karel De Gucht said Tuesday "some people in Europe have genuine concerns" about the planned investment agreement and the EU therefore seeks their input.
Companies in France pay the highest payroll taxes in Europe. A promised 30 billion-euro ($41 billion) payroll tax cut is a centerpiece of Hollande's new bid to keep the economy from sliding back into recession and bring down nearly 11 percent unemployment.
The United Nations' labor agency says the number of unemployed people around the world rose above 200 million last year as job opportunities failed to grow at the same pace as the global workforce. That's 4.9 million more than the previous year.
The Organization for the Prohibition of Chemical Weapons says 14 private sector companies have submitted bids to destroy chemicals removed from Syria as part of international efforts to dismantle Damascus' poison gas and nerve agent program.
InBev never really wanted to part with the leading South Korean brewer, but decided to sell it in 2009 to KKR and Affinity Equity Partners for $1.8 billion, as part of a strategy to reduce debt during the financial crisis. The deal has proved highly lucrative for the private equity firms.
A Chinese court on Monday sentenced a former food plant worker to life in prison for poisoning frozen dumplings that sickened 10 people in Japan in 2008 and strained relations with Tokyo just months before the Beijing Olympics.
Malaysia unveiled a new auto policy Monday, offering incentives and easing curbs on the production of small, energy-efficient cars to vie for investment with neighboring rivals Thailand and Indonesia.
The move is part of efforts by the Japanese electronics manufacturer to accelerate outsourcing of its slumping semiconductor manufacturing operation. Last month, the company said it will sell off three of its semiconductor plants in central Japan to an Israeli chipmaker.
Every January, companies make predictions about the year ahead and what trends they should expect. Bobby Bono, the U.S. industrial manufacturing leader at PwC, has assembled a list of trends he is predicting for the manufacturing sector moving forward.
The European car market has endured its longest slump ever with a sixth straight year of contraction in 2013, but an unexpected surge in December sales may signal recovery, according to industry data released Thursday.
Over the past decade, China has become the world's leading manufacturer of solar energy technologies. China's solar manufacturers have helped drive down the cost of solar panels by using large-scale production practices, spurring the European Union to set a minimum price for Chinese solar panels sold in Europe.
Ford's money-losing European business saw sales fall 2.1 percent last year in a tough market where unemployment and a slow recovery are holding back buyers. The Dearborn, Michigan-based automaker sold 1.08 million cars in 19 European countries, as sales slipped for two of the company's mainstay models, the small Fiesta hatchback and compact Focus.
When you consider some of the challenges that manufacturers face across industries today — they’re unprecedented. The pressures of global supply and demand dynamics, supply chain complexities, disparate production locations and systems, regulations, and other factors have forced manufacturers to reevaluate operations and optimize them everywhere possible in order to remain competitive and profitable.
U.S. import prices recorded no change in December, the U.S. Bureau of Labor Statistics reported today, following declines of 0.9 percent in November and 0.6 percent in October. In December, higher fuel prices offset declining nonfuel prices. U.S. export prices advanced 0.4 percent in December, after edging up 0.1 percent the previous month.