The U.S. trade deficit narrowed sharply in June to its lowest level in more than 3 ½ years. Exports rose to all-time high and imports declined, signs that economic growth could be stronger than previously thought. The Commerce Department said Tuesday that the June deficit fell 22.4 percent to $34.2 billion.
“It’s a great way to start the second half of 2013,” says Bradley J. Holcomb, CPSM, CPSD, chair of the ISM Business Survey Committee. “I think it’s a very positive and well-balanced report in terms of all of the underlying metrics. Things are pointing in a very favorable direction right now.”
President Obama's trade representative has vetoed a ban on imports of some Apple iPads and older iPhones, dealing a setback to rival South Korean electronics company Samsung. U.S. Trade Representative Michael Froman on Saturday overruled a June decision by the U.S. International Trade Commission, which had banned imports of the iPhone 4 and some variations of the iPad 2.
Back in January 2010, President Barack Obama set a lofty goal of doubling U.S. exports in five years. With just 18 months to go to 2015, that target seems to be slipping beyond reach and has vanished from White House talking points. Blame tepid U.S. manufacturing growth, the lingering weak global economy, and a stronger U.S. dollar, which makes it harder to sell American goods and services overseas.
France has become the first country to receive an A400M military transport plane from Airbus, bringing to fruition a long-troubled program. The delivery Thursday culminates "a long, complex and thorough process" between Airbus Military and the seven European nations behind the program, France's DGA military procurement agency said in a statement.
Gov. Phil Bryant and Nissan officials spoke Tuesday during a groundbreaking ceremony Tuesday near Canton. The manufacturing plant opened in 2003 and is about 15 miles north of Jackson, facing Interstate 55. The new supplier park will not be visible from the interstate.
The Europe Union and Chinese solar panel exporters said Saturday that they had reached a settlement in their long trade dispute, with the exporters agreeing to sell their products at a minimum price in the EU market. The agreement ends one of the biggest-ever trade disputes between China and Europe — a row that threatened to escalate into a full-blown trade war involving European wines and to disrupt EU-China relations.
With reporting requirements for the SEC’s Dodd-Frank mandated Conflict Minerals Rule coming due on May 31, 2014, companies are scrambling to determine their next steps in providing transparency required under the new rule, according to PwC. A survey found that almost half of the nearly 900 executives surveyed are still in the initial stages of their compliance efforts, while 32 percent are determining if the rule applies to them.
With the discovery of shale gas reserves in Brazil and plans to auction drilling rights there, a delegation is visiting Pennsylvania to see how its drilling boom has turned the state into one of the leading natural gas producers in the U.S. The group of Brazilian business and energy industry professionals hopes to learn from the state's experience and to explore the possibility of exports to Brazil during meetings Wednesday and Thursday.
Spirit AeroSystems announced Thursday it is laying off about 360 salaried support and management employees at its Kansas and Oklahoma facilities. The Wichita-based aircraft parts maker said it remains strong with a "robust backlog" of orders worth about $36 billion.
Japan's trade deficit was a smaller-than-expected 180.8 billion yen ($1.8 billion) in June as the weaker yen boosted exports. The deficit reported by the Ministry of Finance on Wednesday was smaller than most forecasts and down from May's deficit of 996.4 billion yen. Still, it was more than triple the 56.1 trillion yen deficit recorded in June 2012.
Land Rover extended its Lean manufacturing to cover vehicles rolling off the production line at its Solihull, England production facility by implementing Zebra Solutions Vehicle Tracking & Management Solution. Newly assembled vehicles move around the site as they are prepared for dealer orders, so it was a manually intensive process to establish their precise location and identify and direct each vehicle to the next process.
GETRAG FORD is one of the largest manufacturers of automotive transmissions in the world. As part of its Lean manufacturing initiative, the company implemented Zebra Material Flow Replenishment system to automate parts processes throughout its 2 million square foot assembly plant in Cologne, Germany.
In difficult economic times, Lean thinking strikes a chord for manufacturers as it promises to reduce costs, improve quality, and transform the bottom line by eliminating waste in every area of the value stream. Its goal is to eliminate non-value added processing from the customers’ perspective, enabling less inventory, less space, less resource, less time and less cost to produce more – and all highly responsive to customer demand.
Our fourth annual Energy Intelligence Report has been designed to spark some ideas for cost savings measures, as manufacturers continue to face tightening budgets and competitive pressures. We hope you can find something of value as you look at your own plant floor and try to determine where to start.
The Institute for Supply Chain Management held their 98th Annual International Supply Management Conference & Educational Exhibit April 28th through May 1st in Grapevine, TX. More than 2,000 professionals attended the conference and several “instant” digital polls were held, taking a look at reshoring and tax concerns. Thomas Derry, CEO of ISM, discusses the results of those polls and how they are affecting business and the economy.
Pat and Bill Lancaster believed that pallet loads of product could be better protected — that billions of dollars of unsalable product due to shipping damage could be reclaimed and energy spent recycling, repurposing, or disposing of this damaged product could be regained. Pallet loads could be better stabilized and product should be — and could be — better protected in transit.
China has fired a new salvo in a global trade battle over solar panels by raising import duties on U.S.- and Korean-made polysilicon used to manufacture them. The Ministry of Commerce said the duties of up to 57 percent are in response to dumping, or selling at improperly low prices.
Grainger, a leading broad line supplier of MRO products serving businesses and institutions, on Thursday hosted a grand opening to celebrate its new distribution center in Minooka, Ill. This one-million-square-foot facility serves as the company’s new central stocking distribution center and runs a state-of-the-art automated system.
Google Inc. is investing in a Taiwanese microchip maker that makes chips used in its Google Glass, the eyeglass-enabled devices it is testing that can shoot photos and video and access the Internet. The deal with Tainan, Taiwan-based Himax Technologies Inc. gives Google a 6.3 percent stake in the Himax Display Inc. subsidiary in the form of preferred shares. An option to buy more shares could eventually raise that stake to 14.8 percent.
Back in May, KPMG released their fourth annual Global Manufacturing Outlook, which was built around a poll of 335 C-level executives on a global scale. The results show that U.S. manufacturing seems primed for an era of “hyper innovation,” in which companies develop not only new products, but entirely new product categories and new ways to build them.
Any way you look at it, the United States and European Union will remain dominant players in world trade over the next two decades. The real question, says the World Trade Organization in a new report, is how much ground they cede to rising economies like China.
Japanese auto supplier Diamond Electric Manufacturing Co. has agreed to plead guilty and pay a $19 million criminal fine for its role in a price-fixing scheme. The U.S. Department of Justice said Tuesday that Diamond Electric rigged bids and fixed prices on ignition coils it sold to Ford Motor Co., Toyota Motor Corp. and others. The conspiracy lasted from 2003 through 2010.
Argentina's state-controlled YPF oil company has persuaded Chevron Corp. to sign a long-sought deal to invest $1.24 billion in developing the South American country's shale oil deposits. The joint venture adds up to $1.5 billion overall, the first major foreign oil investment in Argentina since President Cristina Fernandez seized control of YPF from Spain's Grupo Repsol last year.
The United States needs more startup companies and innovation to compete with the rest of the world, General Electric Co. chairman and CEO Jeff Immelt told the University of Wisconsin Board of Regents on Friday. Immelt said the U.S. needs more risk capital to help fuel startups, less government regulation, a greater emphasis on research and development and more cooperation with higher education.