Shares of Apple Inc. fell below $400 for the first time in a year and half on Wednesday, after a supplier hinted at a slowdown in iPhone and iPad production. The stock was down $21.89, or 5.1 percent, at $404.35 in early afternoon trading. Earlier in the day, it hit $398.11, the lowest level since Dec. 2011.
Automaker Daimler AG says it is selling its remaining 7.5 percent stake in EADS, the parent company of aircraft manufacturer Airbus. Daimler helped found EADS but now is cashing out to focus on its core business of making cars. It sold a 7.5 percent stake last year. The Daimler stake of 61.1 million shares would be worth about 2.3 billion euros at Tuesday's price of 37.20 euros a share.
Toyota's global sales of gasoline-electric hybrid vehicles have surpassed 5 million in a milestone for a technology that was initially greeted with skepticism. The Japanese automaker, which said Wednesday it had sold 5.125 million hybrid vehicles as of the end of March, started selling the Prius, the world's first mass produced hybrid passenger car, in 1997.
General Motors plans to roll out a line of completely revamped midsize pickup trucks, with gas mileage and features designed to take sales from Toyota's market-leading Tacoma. The trucks will replace the aging Chevrolet Colorado and GMC Canyon. Mark Reuss, GM's North American president, said Tuesday that the trucks will be able to do 95 percent of the work that a big truck can do.
U.S. industrial output rose in March as cold weather kept utilities busy generating heat and a surge in auto production helped offset broader weakness in manufacturing. Production at the nation's factories, mines and utilities rose 0.4 percent in March from February, the Federal Reserve said.
U.S. industrial manufacturers remain positive regarding the outlook for the U.S. economy in the year ahead, while sentiment pertaining to the world economy remains guarded, according to the Q1 2013 Manufacturing Barometer, released by PwC US.
General Motors edged out fast-growing Volkswagen in first-quarter sales as both companies try to close the gap with Toyota for the global world sales crown. Toyota, which is scheduled to release first-quarter numbers next week, dethroned GM to retake the top spot in 2012, a year in which VW posted record sales and came within 190,000 vehicles of beating GM.
The Obama administration declined to label China a currency manipulator, although it said that China's currency remains significantly undervalued. The decision came in a twice-a-year Treasury report on whether any nations are manipulating their currencies to gain trade advantages.
Pratt & Whitney's military program likely will take a dip as the company transitions from the legacy military engines it's known for making, but engine orders will pick up in a few years with an increase in production of joint strike fighter engines, the company's president said Thursday.
The maker of the BlackBerry said Friday that it wants U.S. and Canadian regulators to investigate a "false and misleading" report by a financial analyst that claims the company's new smartphone is being returned in unusually high numbers.
Nissan Motor Co. will raise pay for its employees in Mississippi and Tennessee. The company has told its employees it will increase their wages starting in October at its Canton, Miss., and Smyrna, Tenn., assembly plants, as well as its Decherd, Tenn., engine plant.
German Chancellor Angela Merkel has welcomed General Motors' decision to invest another 4 billion euros ($5.3 billion) in European subsidiary Opel by 2016 as part of an attempt to turn the money-losing division around. Merkel met with GM Chairman and CEO Dan Akerson and other company officials Thursday in Berlin.
The results of the quarterly Manufacturers Alliance for Productivity and Innovation (MAPI) Survey on the Business Outlook (EO-123) indicate improvement, albeit marginal, from the previous report, and imply that the manufacturing sector is holding its own in uncertain economic times.
The fact is that our trade and economic policies – or lack thereof – are the primary cause of stagnant manufacturing growth in this country. We in and of manufacturing find ourselves in an environment of two camps, vying on many fronts for supremacy & influence. And, these days, it sure seems like the inmates are running the asylum.
Bombardier's CEO, Pierre Beaudoin, talks about the company's expansion in the mid-size jet sector and what that means in terms of competition with Airbus and Boeing. Bombardier's C-series is the company's entry into mainline jets. Fortune's Adam Lashinsky reports.
A disappointing jobs report has sparked fears of a slowing recovery. Although the unemployment rate dipped slightly, that reduction was attributed to people retiring or who had stopped looking for work. PBS' Judy Woodruff reports on why the job market in March took a sharp decline from the past two months.
Alcoa Inc. kicked off earnings season Monday by reporting a larger first-quarter profit than analysts expected, helped by strong demand for aluminum used to make airplanes and automobiles. The company still sees demand for aluminum growing 7 percent in 2013, with gains cutting across many industries.
Optimism among small business owners took a dive last month as expectations for their companies' sales and the economy fell, according to a survey released Tuesday. The National Federation of Independent Business said its index of small business optimism, compiled from a survey of its members, fell 1.3 points to 89.5 after three months of modest gains.
German luxury automaker BMW AG says it had its best month ever in March, increasing global sales by 3 percent to 191,269 vehicles. For the first three months of the year, sales rose by 5.3 percent compared with a year earlier, to 448,200 units — even though sales slipped in the company's home market, Germany.
Ford Motor Co. says its Focus small car was the best-selling vehicle nameplate in the world last year, with just over 1 million sold. More than a quarter of all Focuses were sold in China, its largest market. The U.S. was the car's second-largest market.
Italian carmaker Fiat, which controls Chrysler, will revise its earnings targets later this month as the European market is expected to decline for a sixth straight year, CEO Sergio Marchionne told shareholders Tuesday. European economies are suffering as governments cut spending and raise taxes to lower debt.
February U.S. manufacturing technology orders totaled $385.89 million according to AMT - The Association For Manufacturing Technology. This total, as reported by companies participating in the USMTO program, was up 5.7 percent from January but down 10.6 percent when compared with the total of $431.63 million reported for February 2012.
Although U.S. manufacturing declined in March, it continues a positive push into 2013. “The Institute for Supply Management (ISM) Index was 51.3 in March, down from 54.2 in February but is still above 50, the dividing point between growth and decline,” said Daniel J. Meckstroth, Chief Economist for the Manufacturers Alliance for Productivity and Innovation (MAPI).
Having drawn lessons from a series of predicaments since the 2008 global economic downturn, Toyota Motor Corp. is focusing on lowering its production costs worldwide and improving its competitiveness in product design as it faces intense competition from overseas rivals.
Fisker Automotive, a maker of luxury plug-in cars seeking investors to fund operations, said it's firing about 80 percent of its workforce after failing to secure a deal with an automotive partner. Cory Johnson reports on Bloomberg Television's "Bloomberg West.