Toyota said Friday that it will spend $102 million to increase U.S. production of transmissions. The company said that it will boost its automatic-transmission assembly and machining capacity at its Buffalo, W. Va., plant, as well the capacity at its powertrain plant and Bodine Aluminum casting facilities in Missouri and Tennessee.
At least 15 people were killed Saturday after liquid ammonia leaked from a refrigeration unit at a cold storage plant in China's financial hub of Shanghai, the local government said. Twenty-five people were injured in the accident, which happened at a plant in the Baoshan district of the east coast city, the Shanghai government Information Office said. Five of the injured were in serious condition.
Last week, Walmart Stores announced that they would be holding a summit on U.S. manufacturing, and there’s a fair amount of skepticism over the company’s motives, particularly considering its long history of sourcing a vast majority of products from overseas.
Questions about low sugar prices, dry growing conditions, discolored product and a bloated North American market due in large part to Mexican exports had American Crystal Sugar Co. officials reeling in recent weeks. But CEO David Berg told employees about plans by Mexico's soft drink industry to buy more of its own cane sugar so less of it will be sold elsewhere, an issue that has frustrated U.S. executives.
Motorola's new Moto X phone doesn't cost more to make simply because it's assembled in Texas, research firm IHS said. The Moto X is the first smartphone to carry the "Made in the U.S.A." designation. Labor costs are higher in the U.S. compared with Asian factories, where phones are typically made.
Walmart SVP Michelle Gloeckler explains her company's $50 billion effort to sell more American made goods over the next ten years. Even if Walmart is successful in getting key retailers and suppliers on board, experts say it won't rejuvenate the U.S. manufacturing industry. But the movement could help stem the tide of jobs flowing to China and elsewhere that has been occurring in the last two decades.
A leading indicator shows a fresh spike in manufacturing activity, but with debt pressures lingering and the country on a slower growth track, economists remain cautious on China's outlook. China's manufacturing slowdown stabilized in August in another possible sign the world's second-largest economy is improving, a survey showed.
India's largest carmaker Maruti Suzuki India Ltd. said Tuesday that the opening of its new plant in India's western state of Gujarat will be delayed due to the overall slowdown of the Indian economy and car market. The company's chairman, R.C. Bhargava, stated that the Indian unit of Japan's Suzuki Motor Corp. will "miss the target" of commissioning its Gujarat plant by March 31, 2016.
In a shabby back-alley office in Shibuya, a Tokyo district known for youth culture and tech ventures, defectors from corporate Japan are hard at work for a little known company they fervently believe will be the country's next big manufacturing success.
China's government tried Monday to reassure companies and its public about the economy's health, saying growth is stabilizing after a lengthy decline and should hit the official target of 7.5 percent for the year. The announcement by the chief spokesman for the Cabinet's statistics agency was part of official efforts to defuse unease about the country's deepest slump since the 2008 global crisis.
Is manufacturing coming back to the U.S.? Some may be returning, but the single best answer is “No”. No, there is not a mass movement to bring manufacturing back to the U.S. No, we are not moving away from global supply chains. No, the U.S. does not have a large workforce waiting to take low paying jobs.
Smith Electric Vehicles, a leading global producer of all-electric medium-duty commercial vehicles, today announced that it has signed a letter of intent to form a joint venture with Taikang Technology Corporation in Taiwan. Taikang Technology Corporation, a leading commercial vehicle manufacturer in Taiwan, has twenty-five years of automotive experience and has expertise in upfitting specialized municipal commercial vehicles.
Indonesia said that it would curb imports of luxury cars and take other steps to bolster national finances as Southeast Asia's largest economy suffers a slumping currency and stock market. Indonesia has been buffeted by an exodus of cash from its financial markets as improving economic prospects in the U.S and Europe reverse the tide of money that swept into developing nations the past few years.
Tesla Motors on Thursday opened its assembly plant in Tilburg, Netherlands, creating a new distribution site for the luxury electric car company's European customers. The U.S. company began deliveries of its Model S sedan in Norway earlier this month and said that some of its first Dutch, Belgian, French and German customers received their cars at the brand new Tilburg facility on Thursday.
Wal-Mart Stores Inc. is hoping for a groundswell "made-in-America" movement. The world's largest retailer hosted its first two-day summit Thursday bringing together retailers, suppliers and government officials that it hopes will build on its recent commitment to drive more manufacturing in the U.S.
China's manufacturing slowdown stabilized in August in another possible sign the world's second-largest economy is improving, a survey showed Thursday. HSBC Corp. said the preliminary version of its monthly purchasing managers index rose to 50.1 from July's 47.7 on a 100-point scale. Numbers above 50 indicate an expansion in activity.
Toshiba Corp. is considering shutting down its television manufacturing plant in Poland as part of measures to restructure its struggling television business, sources close to the matter said Thursday. But Toshiba will sell the plant if it finds a buyer, the sources said.
Economics isn't all that complicated. We can create a million new American jobs this year by simply looking for the Made In America label. If each of us takes a tiny fraction of the money we're already spending and buys U.S.-made goods, we'll create a economic tidal wave. Watch the video, and then share it. Boom, you just helped make a million new jobs.
Two automakers and a technology company cannot be held liable in the U.S. for abuses committed by South Africa's government, a federal appeals court said Wednesday in a blow to class-action lawsuits that had tried to hold American, Canadian and European companies liable for the claims of millions of people who say they suffered under apartheid.
REC Silicon, with 500 workers in this Central Washington town, annually produces enough solar-grade polysilicon to power more than 2 million homes. But a global trade battle over solar panels threatens to plunge REC and its local workforce into financial crisis.
In Venezuela, consumers are paying more for used cars than new ones, as new car buyers have to wait years for delivery. Socialist policies and the currency exchange may be two reasons automotive imports and production have come to a screeching halt.
A number of international companies have suspended operations in Egypt as three days of violent street battles make the streets of Cairo unsafe. General Motors Co., Electrolux AB, Royal Dutch Shell PLC, Heineken N.V., Toyota Motor Corp., Suzuki Motor Corp., BASF SE and others shut down facilities and told thousands of workers to stay at home during unrest that has left more 700 people dead as of late Friday.
U.S. Trade Representative Michael Froman on Monday urged Japan to open its market to American cars and insurance companies, which would pave the way for a broader regional free trade agreement. Froman told reporters that the ongoing talks with Japan dealing with such historical sticking points are tied to the success of the larger and parallel Pacific free trade negotiations.
The Brazilian state of Sao Paulo plans to file a lawsuit against German engineering giant Siemens AG to recover funds lost to an alleged price-fixing cartel involved in the construction and upkeep of the subway and train systems of the cities of Sao Paulo and Brasilia. The state government said in a statement posted on its website Tuesday night that Siemens told Brazil's antitrust agency, CADE, of the existence of the cartel in May.
7.45 million pre-orders and 100,000 sold out in 90 seconds – China's new and popular low-cost smartphone went on sale this week. China's Xiaomi has sparked a frenzy with a low-cost smartphone that may help the tech firm widen its lead over Apple in the local market, but CEO Lei Jun says it has very different ambitions.