Authorities in a southern Chinese city said Wednesday that a deadly explosion was sparked while workers unloaded banned caps for children's toy guns and that the toll from the blast rose to seven dead and 36 injured. Tuesday's blast was ruled accidental, the Guangzhou Internet Information office said.
Gov. Rick Perry and top executives are attending the opening of a Fort Worth plant where cellphone pioneer Motorola will produce the first smartphone ever assembled in the U.S. Motorola is owned by Google, whose Executive Chairman, Eric Schmidt, will be on-hand Tuesday, as will Motorola CEO Dennis Woodside.
Jaguar Land Rover has announced a substantial new investment in Britain and the creation of 1,700 jobs. The Indian-owned company plans to invest 1.5 billion pounds ($2.3 billion) to produce an advanced new car manufactured out of aluminum.
China's August export growth accelerated, adding to signs of a gradual recovery for the world's second-largest economy, while import growth weakened. Exports rose 7.2 percent to $190.7 billion, accelerating from July's 5.1 percent growth, customs data showed Sunday. Imports rose 7 percent to $162.1 billion, but that was down from July's 10.9 percent.
Indiana Gov. Mike Pence left Thursday on his first overseas trade mission as governor, taking along more than 40 political and business leaders to Japan. The trade delegation flew out of Indianapolis for a nine-day trip through Tokyo, Nagoya and Tochigi Prefecture, Indiana's Japanese sister state.
China's airlines are likely to triple the size of their fleets over the next two decades, driven by strong economic growth and rising tourism spending, Boeing Co. said Thursday. Boeing and European rival Airbus Industries are looking to China to drive sales as growth in demand cools elsewhere.
Italian carmaker Fiat, which controls Chrysler, will go ahead with investments in its flagship Mirafiori plant in Turin, where it will produce Maserati SUVs. Fiat confirmed the decision Wednesday, after signing a contract with seven unions on flexible work rules.
The U.S. trade deficit widened in July from a four-year low in June. American consumers bought more foreign cars and other imported goods, while U.S. companies exported fewer long-lasting manufactured goods. The Commerce Department said Wednesday that the trade gap rose 13 percent to $39.1 billion.
Nokia, the former star of the cellphone world, has seen its light further dimmed by the news Tuesday that Microsoft Corp. was acquiring its handset operations. "This is naturally a big day of change in Finland's industrial history," Finnish Prime Minister Jyrki Katainen told reporters in Helsinki Tuesday after Microsoft's 5.44 billion euros ($7.2 billion) deal was announced.
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.