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Daily industrial news and top headlines for plant and maintenance managers

Global Economy, Global Forecast with Adrian Cooper

November 19, 2013 12:13 pm | by Association For Manufacturing Technology | Videos | Comments

AMT's Industry Economist, Russ Waddell talks with Adrian Cooper, CEO of Oxford Economics and long time presenter at the Global Forecasting & Marketing Conference. Adrian provides some insight on the next downturn in the economy, exchange rates impacting global supply chains, and what it takes to create a global economic forecast.

Drug Sales To Hit Lowest Growth Rate In Decades

November 19, 2013 10:04 am | by Matthew Perrone, AP Health Writer | News | Comments

Growth in global prescription drug spending will slow to the lowest rate in decades as low-cost generic drugs continue replacing former blockbusters in the U.S. and Europe, where governments face new pressure to reduce health care spending, according to a new forecast

European Automakers Get 2nd Hopeful Sign

November 19, 2013 9:56 am | by The Associated Press | News | Comments

The European carmaker's association reported Tuesday that EU passenger car sales rose in October for the second consecutive month. It is the first time since September 2011 that European car sales have grown two straight months — a sign that perhaps the gloom in the car market is about to lift.

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Sony Sells Over 1M PlayStation 4s In First Day

November 18, 2013 1:44 pm | by The Associated Press | News | Comments

The consoles went on sale Friday in the U.S. and Canada. Andrew House, president and group CEO for Sony Computer Entertainment Inc., said in a release Sunday that sales remain strong in North America. The company will launch the gaming system in Europe and Latin America on Nov. 29.

Miss. Group Points To Nissan's Positive Impact

November 15, 2013 2:16 pm | by Jeff Amy, Associated Press | News | Comments

The group unveiled a report from a Mississippi State University professor on Wednesday that says Nissan Motor Co.'s Canton plant has created 16,000 jobs in surrounding areas since it opened in 2003. The report estimates that Nissan contributes $2.5 billion to the state's yearly economic output, which is about $100 billion overall.

U.S. Wholesalers Boost Stockpiles For 3rd Month

November 15, 2013 1:53 pm | by Christopher S. Rugaber, AP Economics Writer | News | Comments

U.S. wholesalers increased their stockpiles in September for the third straight month, an indication that they expect more demand from businesses and consumers.                          

US Added Unexpectedly Strong 204,000 Jobs In Oct.

November 8, 2013 12:31 pm | by Christopher Rugaber, AP Economics Writer | News | Comments

A burst of hiring in October added a surprisingly strong 204,000 jobs to the economy in a month when the government was partly shut down for 16 days. And employers added far more jobs in August and September than previously thought.     

Automotive Supplier Adds 180 Jobs In Miss.

November 8, 2013 12:29 pm | by The Associated Press | News | Comments

Automotive supplier Toyota Boshoku is adding 180 jobs at its manufacturing plant in northeast Mississippi.  The company said Friday that it's investing $21 million at the plant it opened in 2011 in Mantachie, where it makes seat components and door panels for the Toyota Corolla.

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Measure Of U.S. Economy's Health Rises

November 6, 2013 2:18 pm | by Martin Crutsinger, AP Economics Writer | News | Comments

A gauge of the U.S. economy's future health rose solidly in September, suggesting the economy was making gains before the government shut down for 16 days.                           

Mich. PMI Shows Sharp Upswing, Continued Growth

November 6, 2013 2:03 pm | by The Associated Press | News | Comments

The Southeast Michigan Purchasing Managers Index (PMI) for Oct. is 63.1, up from 59.9 in Sept., raising the three-month average for the economy to a robust 61.1. A PMI value above 50 generally suggests economic growth.         

Toyota Profit Jumps 70 Pct. Despite Sales Slip

November 6, 2013 10:05 am | by Elaine Kurtenbach, AP Business Writer | News | Comments

Toyota's quarterly profit soared 70 percent, and the world's top-selling automaker raised its earnings forecast, as cost cuts and the weaker Japanese yen compensated for slightly weaker vehicle sales.                

OECD: Economic Crisis Hits Trust In Governments

November 5, 2013 9:30 am | by Raf Casert, Associated Press | News | Comments

The financial crisis of the past few years has severely sapped confidence in government around the globe, a think-tank representing the world's wealthiest economies said Tuesday.                     

U.S. Factory Orders Rise 1.7 Percent In September

November 4, 2013 1:46 pm | by Martin Crutsinger, AP Economics Writer | News | Comments

Orders to U.S. factories rose in September after two months of declines on a big jump in demand for commercial aircraft. But orders that signal business confidence in the economy fell.The Commerce Department says factory orders increased 1.7 percent in September from August.

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Kellogg To Cut Jobs, Lowers Outlook

November 4, 2013 10:17 am | by The Associated Press | News | Comments

Kellogg says it plans to trim its global workforce by 7 percent, with the breakfast foods maker citing weaker-than-expected sales for the year.  According to FactSet, Kellogg has 31,000 employees, suggesting the company plans to cut about 2,170 jobs.

ISM: Manufacturing Continues Upward Momentum

November 4, 2013 9:50 am | by Jon Minnick, Associate Editor, Manufacturing Business Technology | Articles | Comments

Economic activity in the manufacturing sector expanded in October for the fifth consecutive month, and the overall economy grew for the 53rd consecutive month, say the nation’s supply executives in the latest Manufacturing Institute for Supply Management (ISM) Report On Business.

AB InBev 3Q Profits Up 31 Percent

November 1, 2013 1:37 pm | by Toby Sterling, AP Business Writer | News | Comments

Anheuser-Busch InBev, the world's largest brewer, says its third-quarter profits rose as the takeover of new brands and higher selling prices offset the impact of lower sales volumes. The gain largely reflects the company's $20 billion purchase of the remainder of Mexico's Grupo Modelo.

Expert: Shutdown Hurt Midwest Business Conditions

November 1, 2013 1:29 pm | by The Associated Press | News | Comments

The stalling of the federal government contributed to worsening business conditions in nine Midwest and Plains states, according to a monthly economic report issued Friday.                       

U.S. Manufacturing Expands At Best Pace In 2½ Years

November 1, 2013 1:10 pm | by The Associated Press | News | Comments

U.S. factory activity expanded in October at the fastest pace in 2½ years, suggesting that the 16-day partial shutdown of the government had little effect on manufacturers.Instead, overseas demand and healthy U.S. auto sales appear to be supporting factory output.

Nissan Cuts Profit Outlook, Revamps Management

November 1, 2013 10:05 am | by Elaine Kurtenbach, AP Business Writer | News | Comments

Ghosn attributed the weaker than expected performance to a variety of troubles, chief among them weakness in many emerging markets and painfully expensive recalls. He announced a management reshuffle that will make the company's chief operating officer, Toshiyuki Shiga, a vice chairman and appoint three other executives as COOs.

Chrysler IPO Could Happen By Year End

October 31, 2013 1:52 pm | by Colleen Barry, The Associated Press | News | Comments

On the heels of a profitable third quarter, Chrysler Group said it will proceed with a public offering of shares before the end of this year.                               

Big Bucks For Detroit's Big 3

October 31, 2013 1:22 pm | by CNNMoney | Videos | Comments

GM, Chrysler and Ford are hotter than Detroit Lions wide receiver Calvin Johnson. The automakers' earnings are strong, a promising sign for the Motor City.                           

Lower Joint Venture Income Hit Corning In 3Q

October 30, 2013 1:41 pm | by The Associated Press | News | Comments

 Glass maker Corning said Wednesday that its net income fell 23 percent in the third quarter on lower earnings from its joint venture with Samsung, which Corning is buying out.  The company gave a disappointing forecast for the fourth quarter, and shares slipped.

GM Revenue Rises 4 Pct, Just Short Of Wall Street Estimates

October 30, 2013 9:59 am | by Tom Krisher, AP Auto Writer | News | Comments

General Motors says third-quarter net income fell 53 percent compared with a year ago, as one-time expenses and losses in Europe offset strong performances elsewhere. The company earned $698 million in the quarter, or 45 cents per share. That compares with $1.48 billion, or 89 cents per share, a year ago.

Chrysler Group Reports Third-Quarter Net Income Of $464 Million

October 30, 2013 9:56 am | by Chrysler Group LLC | News | Comments

Chrysler Group LLC today reported its preliminary third-quarter 2013 results, including net income of $464 million, marking the Company’s ninth consecutive quarter of positive net income.                  

Fall In Auto Sales Lowers U.S. Retail Spending

October 29, 2013 9:50 am | by The Associated Press | News | Comments

A sharp drop in auto sales caused largely by a calendar quirk lowered U.S. retail spending in September. But Americans boosted their spending on most other goods, suggesting confidence in the economy ahead of the government shutdown.     

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