Unemployment levels in the world's advanced economies could improve next year, even though the number of people without work will likely continue to rise in several European countries, a leading international economic body said Tuesday.
Hyundai Motor Co.'s factories have reached their maximum capacity to build cars, and that's costing the company sales in a growing U.S. market, its American CEO said Friday. Hyundai's U.S. sales are up only 1.9 percent for the first half of the year, less than a quarter of the overall market's 8.4 percent growth rate, according to Autodata 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.
With signs the high-end smartphone market in the developed world is at a near-term saturation point, Taiwanese chipmakers like TSMC may find once-assured profits are more fleeting than expected. The promised explosion of next-gen mobile devices may not create the windfall these chipmakers were expecting.
A big jump in gasoline prices pushed wholesale inflation up in June by the largest amount in nine months. But underlying inflation showed only a modest gain. Wholesale prices rose 0.8 percent in June compared with May when prices had risen 0.5 percent, the Labor Department reported Friday. It was the biggest gain since a 1 percent jump in September and was driven by a 7.2 percent surge in gasoline prices.
Is that new set of wheels out of your price range? Used cars have gotten more affordable, especially if you're looking for a small car or a hybrid. Used car prices have been falling since 2011, and they're expected to decline gradually for the remainder of this year. That's good news for those joining or re-entering the workforce, or anyone else who might find a payment on a new car too steep.
The future may be looking brighter for Apple after the company reportedly filed a trademark application in Japan to patent the iWatch. Back in April, Apple CEO Tim Cook said that the company was working on exciting new products that may hit the market later this year.
If you've ever tried to buy a high-end supercar, just getting a test drive can involve a deposit of $15,000. But now, for a much smaller price, drivers can learn to drive Lamborghinis before taking them for a test spin. At the Lamborghini Esperienza, you learn to drift, auto cross, and drive Lamborghinis on a race track.
An original Apple computer from 1976 has sold at auction for nearly $388,000. Known as the Apple 1, it was one of the first Apple computers ever built. It sold on Monday for $387,750 at a Christie's online-only auction. The auction house did not disclose the name of the buyer. The seller was a retired school psychologist from Sacramento, Calif.
A group of investors has taken over the remains of Israel's bankrupt electric car venture, pledging to give the project another boost. The electric car company Better Place filed for liquidation in May, less than six years after unveiling a plan promising to revolutionize the auto industry by reducing the world's oil dependency.
Connecticut is seeking to more than double the number of electric vehicle charging stations by the end of the year, the state's top environmental and transportation officials said Tuesday. The Department of Energy and Environmental Protection and Department of Transportation are making $200,000 available to install charging stations.
China's trade declined abruptly in June in a sign growth in the world's second-largest economy might be cooling even more sharply than expected. Exports fell by 3.1 percent compared with a year earlier and imports contracted by 0.7 percent, customs data showed Wednesday. Both were below forecasts of growth in the low single digits.
Research In Motion CEO Thorsten Heins pleaded for patience Tuesday as the company faces questions about its growth and survival. BlackBerry shares were hammered last month after the company's financial results fell short of expectations. Heins told shareholders that BlackBerry is in the second stage of its turnaround. Stage three, he said, includes profitability.
General Motors says the new Chevrolet Corvette sports car will get 29 miles per gallon of gas in highway driving. The 2014 Corvette Stingray has a 455 horsepower, 6.2-liter V-8 engine that can take the car from zero to 60 mph in under four seconds. GM says the car can get up to 30 mpg in "Eco" mode.
It might look like a model airplane, but don't let the size fool you. The Heron 1 is the latest in Israeli drone technology and the growth engine of Israel's defense industry. Between 2001 and 2011, 41 percent of drones came from Israel. President and CEO of Israel Aerospace Industries, Joseph Weiss, explains why this technology is a necessity.
May U.S. manufacturing technology orders totaled $430.06 million according to AMT - The Association For Manufacturing Technology. This total, as reported by companies participating in the USMTO program, was up 13.6 percent from April but down 7.6 percent when compared with the total of $465.38 million reported for May 2012. With a year-to-date total of $2,085.14 million, 2013 is down 6.9 percent compared with 2012.
Last year, Chinese consumers bought 19 million cars and trucks — 5 million more than consumers in the U.S. Ford's share of those sales was just 3 percent. Years of corporate chaos and financial trouble slowed Ford's entry into China as its rivals gained a foothold. Together, General Motors and Volkswagen control a third of China's market.
Strong demand for lightweight aluminum in autos and airplanes is helping Alcoa Inc. cope with lingering weak metal prices. The company said its second-quarter loss was wider than a year ago, but excluding costs for closing smelters and other restructuring and legal expenses, the results slightly beat Wall Street expectations.
Hiring is exploding in the one corner of the U.S. economy where few want to be hired: Temporary work. From Wal-Mart to General Motors to PepsiCo, companies are increasingly turning to temps and to a much larger universe of freelancers, contract workers and consultants. Combined, these workers number nearly 17 million people who have only tenuous ties to the companies that pay them — about 12 percent of everyone with a job.
Economic activity in the manufacturing sector returned to a slow, steady expansion in June, say the nation’s supply executives in the latest ISM Report On Business. The PMI number indicated expansion in manufacturing for the fifth time in six months, reversing May’s contracting PMI rate of 49 percentage points. Although U.S. manufacturing is growing at a slow, steady rate, it’s still in line to meet yearly expectations.
The number of Americans applying for unemployment benefits fell 5,000 to a seasonally adjusted 343,000 last week, a sign that employers are adding jobs at modest pace. The less volatile four-week average dipped 750 to 345,500, the Labor Department said Wednesday.
The U.S. trade deficit increased in May to the highest level in six months as a weak global economy depressed U.S. export sales while imports of autos and other nonpetroleum products hit an all-time high. The trade deficit rose to $45 billion in May, up 12.1 percent from April's $40.1 billion imbalance, the Commerce Department reported Wednesday. It was the largest trade gap since November.
U.S. buyers snapped up new cars and trucks in June at a pace not seen since before the recession. Continuing demand for big pickups helped boost sales for Detroit's automakers. Ford said Tuesday that its sales rose 14 percent, while Chrysler's gained 8 percent and General Motors' rose 6.5 percent.
The chief executive of Ethiopian Airlines says that his company has pocketed a record profit despite the temporary grounding of its Boeing 787 Dreamliner planes. Tewolde Gebremariam told The Associated Press Monday that his company is expecting a record profit with 20 to 25 percent growth in revenue and number of passengers.
U.S. manufacturing activity grew in June behind a pickup in new orders, exports and production. Better economic growth overseas is boosting U.S. exports and could help American factories rebound in the second half of the year. The Institute for Supply Management said Monday that its index of factory activity increased to 50.9 in June. That's up from 49 in May, which was the lowest reading in four years.