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Daily industrial news and top headlines for plant and maintenance managers
U.S. Economic Data Help World Markets Recover
September 25, 2012 2:03 pm | by Carlo Piovano, Associated Press | News | CommentsRobust U.S. economic indicators pushed world markets higher on Tuesday, offsetting uncertainty over Europe's debt problems and global growth. Consumer confidence in the U.S. jumped in September to its highest level since February, according to the Conference Board whose index rose to 70.3 points from 61.3 in August. Market expectations were for a more modest gain.
Caterpillar Cuts 2015 Profit Outlook
September 25, 2012 1:59 pm | by The Associated Press | News | CommentsThe world's largest maker of construction and mining equipment is lowering expectations for its profit in 2015 because of slower-than-expected growth in the global economy. Caterpillar Inc. had previously said it expected to earn $15 to $20 per share in 2015. It's now saying it expects to earn $12 to $18 per share on revenue of $80 billion to $100 billion.
Sitting With America
September 25, 2012 8:13 am | by Rachel Leisemann Immel, Associate Editor, IMPO | Blogs | CommentsSome buy American because they, as Americans themselves, think it’s simply the right thing to do. Some buy American because, to them, seeing the “Made in America” label means that they’re getting a superior product. Others, because they’ve heard the statistics outlining the importance of a strong manufacturing base in the U.S. Whatever the reason, I don’t think it can ever hurt to support an economy that makes such a difference.
GM China Sales Hit 2 Million In 2012 So Far
September 24, 2012 2:15 pm | by The Associated Press | News | CommentsGeneral Motors says it has sold 2 million cars in China this year, reaching the milestone for the third straight year. The milestone sale came on Sept. 21, the earliest that GM has ever hit the number. GM says it reached 2 million in sales on Oct. 17 last year and on Nov. 4 in 2010.
Steel Producers Decline On Downgrades
September 24, 2012 2:05 pm | by The Associated Press | News | CommentsShares of steel companies fell Monday after an analyst lowered ratings on two manufacturers, citing higher steel prices that could make imports more attractive. During the third quarter, domestic hot-rolled coil steel products have been priced up to $108 per ton more than similar products sold in southern Europe. That suggests near-term declines in hot-rolled coil steel prices are likely, Citi Research analyst Brian Yu said.
WTO Cuts Outlook For Global Trade In 2012 And 2013
September 21, 2012 9:33 am | News | CommentsThe outlook for 2013 was reduced to 4.5 percent from 5.6 percent. The reason is a gloomier picture of the world economy. Figures for output and jobs in the U.S., the world's largest economy, have disappointed. Meanwhile economic indicators point to slower growth in the world's largest exporter, China.
Manufacturing In Philly Area Shrinks For Fifth Month
September 20, 2012 1:45 pm | by Martin Crutsinger, AP Economics Writer | News | CommentsManufacturing in the Philadelphia region shrank for a fifth straight month in September, suggesting demand for American-made goods has weakened. The Federal Reserve Bank of Philadelphia says its index of regional manufacturing activity had a reading of -1.9 in September. That was slightly better than the August reading of -7.1 and a July reading of -12.9.
U.S. Unemployment Claims Fell Last Week To 382K
September 20, 2012 1:36 pm | by Christopher S. Rugaber, AP Economics Writer | News | CommentsThe Labor Department said Thursday that applications declined by 3,000 from the previous week, which was revised up. The four-week average, a less volatile measure, rose for the fifth straight week to 377,750, the highest level in nearly three months.
Broadest U.S. Trade Deficit Falls To $117.4B
September 18, 2012 2:11 pm | by Martin Crutsinger, AP Economics Writer | News | CommentsThe U.S. current account trade deficit narrowed in the April-June period, pushed lower by an increase in American exports and cheaper oil imports. The Commerce Department said Tuesday that the deficit in the current account decreased 12.1 percent to $117.4 billion in the second quarter. That's down from a deficit of $133.6 billion in the January-March quarter, which had been the largest in three years.
Tesla Shares Jump After Morgan Stanley Upgrade
September 18, 2012 2:07 pm | by The Associated Press | News | CommentsShares of electric car maker Tesla Motors jumped almost 6 percent Monday after Morgan Stanley upgraded the stock. In a note sent Monday to investors, Morgan Stanley analyst Adam Jonas upgraded Tesla's stock rating to "overweight" from "underweight" and raised his target price from $45 to $50. He said investors shouldn't be worried about the slow ramp-up in production of Tesla's new Model S sedan.
Automakers Fall As Moody's Predicts Slow Growth
September 17, 2012 2:13 pm | by The Associated Press | News | CommentsShares of automakers fell on Monday after Moody's Investors Service said that sluggish demand in Europe and weakening sales in China will hurt the growth prospects for the global auto industry. Moody's cut its prediction for 2013 sales of light vehicles to growth of 2.9 percent from a January prediction of 4.5 percent.
A Homecoming For U.S. Manufacturing?
September 17, 2012 8:16 am | by PwC | Articles | CommentsA new PwC US report reveals that while rising labor costs are part of the story, a range of factors—including transportation and energy costs and protecting the supply chain—could drive a sustained manufacturing renaissance in the U.S. beyond any cyclical recovery, potentially improving investment, employment, production output, and research & development.
Fed's Bold Plan Still Might Not Jolt Slow Economy
September 14, 2012 2:06 pm | by Martin Crutsinger, Paul Wiseman, AP Economics Writers | News | CommentsNo sooner did the Federal Reserve unveil a bold plan Thursday to juice the U.S. economy than it dangled the prospect of doing even more. Investors celebrated by sending stock prices jumping. Economists were less impressed. Many wondered how much the Fed's action would help.
AK Steel Predicts A Loss For Its 3rd Quarter
September 14, 2012 2:01 pm | by The Associated Press | News | CommentsAK Steel anticipates taking a loss in its third quarter as it contends with a lower average per-ton selling price and higher maintenance expense. The steel maker said Friday that it foresees a loss of 60 to 65 cents per share for the period. Removing a tax expense of 26 cents per share, the loss is between 34 and 39 cents per share.
State Tax Credits Help Frito-Lay Expand In CT
September 14, 2012 1:59 pm | by The Associated Press | News | CommentsSnack foods company Frito-Lay North America is receiving up to $4 million in tax credits to expand its manufacturing and distribution plant in Killingly. The company plans to spend $38 million for technology for material handling and delivery. State officials said Thursday that the improvements are expected to increase efficiency and improve delivery while also reducing the plant's environmental impact.
U.S. Industrial Production Fell 1.2 Percent
September 14, 2012 10:11 am | by Martin Crutsinger, AP Economics Writer | News | CommentsU.S. industrial production fell in August by the largest amount in more than three years as factories produced fewer cars and other manufactured goods and Hurricane Isaac triggered shutdowns along the Gulf Coast. Industrial production dropped 1.2 percent in August compared to July, the Federal Reserve said Friday. It was the biggest setback since a 1.7 percent decline in March 2009, when the country was in recession.
Shares In BAE, EADS Slide After Merger Talk
September 14, 2012 10:04 am | by The Associated Press | News | CommentsSkeptical investors sent shares in aerospace and defense contractors BAE Systems and EADS down sharply Thursday, a day after the two companies announced they were in merger talks. Shares in British-based BAE were down as much as 9 percent in early trading in London, after gaining 10.6 percent on Wednesday after the news leaked.
A Manufacturing Opportunity
September 12, 2012 5:30 pm | Articles | CommentsIn the past decade, America has lost 6 million manufacturing jobs; yet today, 600,000 jobs can’t be filled in America because manufacturers can’t find people with the right skills. When Americans are asked how they would create a thousand new jobs in their communities with a new business facility, manufacturing is their first choice.
U.S. Wholesale Stockpiles Up In July, Sales Fell
September 12, 2012 2:18 pm | by Martin Crutsinger, AP Economics Writer | News | CommentsU.S. wholesalers increased their stockpiles in July from June, but sales fell for a third straight month. Declining sales could force companies to cut inventories in coming months, a troubling sign that economic growth could weaken. The Commerce Department said Wednesday that wholesale stockpiles grew 0.7 percent in July, the biggest increase in five months.
Trina Solar To Cut Costs, Jobs
September 12, 2012 2:13 pm | by The Associated Press | News | CommentsTrina Solar Ltd. said Tuesday that it is cutting an undisclosed number of jobs as part of a broader cost-saving initiative. The Chinese solar panel maker said that in order to overcome increasingly intense competition, it will cut jobs, reduce its operating expenses and separate two of its business lines into their own units.
China's Imports Shrink In Sign That The Downturn Is Worsening
September 10, 2012 10:50 am | by Joe McDonald, AP Business Writer | News | CommentsImports declined 2.6 percent from a year earlier, below analysts' expectations of growth in low single digits, data showed Monday. That came on top of August's decline in factory output to a three-year low and other signs growth is still decelerating despite repeated stimulus efforts.
ISM: Manufacturing Activity Contracts Again
September 10, 2012 8:07 am | by Mike Schmidt. Associate Editor, Manufacturing Business Technology | Articles | CommentsIt’s been a tough few months for U.S. manufacturing, and it could be more of the same for at least the rest of 2012. While overall economy grew for the 39th consecutive month in August, economic activity in the manufacturing sector contracted in August for the third time since July 2009, according to the latest Manufacturing ISM Report On Business.
Carmaker Peugeot Pushed Off France's CAC-40 Index
September 7, 2012 2:16 pm | by The Associated Press | News | CommentsThe Paris bourse will drop PSA Peugeot Citroen from its CAC-40 index of leading French companies after a dismal year for the carmaker, the exchange operator said. It's a major blow for the company, which has been a part of the index since it was created in 1987, and is an iconic brand in France.
Smith & Wesson Soars As Earnings Beat Wall St.
September 7, 2012 2:11 pm | by The Associated Press | News | CommentsSmith & Wesson shares jumped more than 19 percent in after-hours trading as the gun maker posted record quarterly earnings and said it expected more to come. Smith & Wesson expects earnings during the fiscal year ending next April in the range of 85 to 90 cents per share with revenue of $530 million to $540 million, or nearly one-third higher than the previous year.
U.S. Economy Adds 96K Jobs, Rate Falls To 8.1 Percent
September 7, 2012 10:07 am | by Christopher S. Rugaber, AP Economics Writer | News | CommentsU.S. employers added 96,000 jobs last month, a weak figure that could slow the momentum President Barack Obama hoped to gain from his speech Thursday night to the Democratic National Convention. The unemployment rate fell to 8.1 percent from 8.3 percent in July. But that was only because more people gave up looking for work. People who are out of work are counted as unemployed only if they're looking for a job.
