Abbott Laboratories is closing one of its manufacturing plants in the Puerto Rico town of Barceloneta next year, delivering another blow to the U.S. territory's once-thriving pharmaceutical sector, officials said Thursday.
Society of Motor Manufacturers and Traders Chief Executive, Mike Hawes, discusses UK car, commercial vehicle, and engine manufacturing performance in 2013. Ford of Britain Managing Director, Mark Ovenden, and other automotive executives also give insights into the year's performance and their expectations for 2014.
The Dutch Foods and Wares Authority says it has "preventatively" blocked all shipments from a Dutch slaughterhouse after investigators found horsemeat in four shipments that were labeled as beef products.
"This is the third consecutive State of the Union in which there has been a strong rhetorical focus on manufacturing, and that’s welcome. But the progress, despite the rosy picture painted by the President, has been painfully slow. And in some cases, such as the trade deficit with China, we’ve seen backsliding."
Fiat's board of directors agreed on the name Fiat Chrysler Automobiles NV, with headquarters for tax purposes in the United Kingdom. But the board sidestepped the thorny political issue of whether the true headquarters would be in the United States or Italy.
Despite ever-growing passenger numbers, India restricted Airbus A380 flights in 2008 in an effort to help struggling domestic carriers cope with global competition. Aviation Minister Ajit Singh said that lifting the restrictions would help bring more revenue to airports and boost India's international reputation as a flight destination.
A 27-year-old seamstress who was among those pulled alive last year from the rubble of a horrific Bangladesh factory collapse has died, officials said Monday. Police are investigating the case as a possible suicide. Salma was rescued several days after the illegally constructed, eight-story Rana Plaza collapsed, killing 1,129 people.
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.