Indiana Gov. Mike Pence left Thursday on his first overseas trade mission as governor, taking along more than 40 political and business leaders to Japan. The trade delegation flew out of Indianapolis for a nine-day trip through Tokyo, Nagoya and Tochigi Prefecture, Indiana's Japanese sister state.
China's airlines are likely to triple the size of their fleets over the next two decades, driven by strong economic growth and rising tourism spending, Boeing Co. said Thursday. Boeing and European rival Airbus Industries are looking to China to drive sales as growth in demand cools elsewhere.
Microsoft's $7 billion deal to buy Nokia's cellphone business has investors wondering if the software giant can finally stake a claim in the mobile phone industry. A source of national pride, Finland's Nokia Corp. had led the cellphone industry for more than a decade, reaching a peak of 40 percent market share in 2008.
Last week, Walmart Stores announced that they would be holding a summit on U.S. manufacturing, and there’s a fair amount of skepticism over the company’s motives, particularly considering its long history of sourcing a vast majority of products from overseas.
Canadian airline WestJet plans to buy 65 of the new fuel-efficient 737 Max aircraft from Boeing as it looks to modernize its fleet. Boeing said Thursday that the pending order is valued at $6.3 billion at current list prices.
Walmart SVP Michelle Gloeckler explains her company's $50 billion effort to sell more American made goods over the next ten years. Even if Walmart is successful in getting key retailers and suppliers on board, experts say it won't rejuvenate the U.S. manufacturing industry. But the movement could help stem the tide of jobs flowing to China and elsewhere that has been occurring in the last two decades.
For the first time, Ford Fusion vehicles are being built just outside Detroit, a positive sign that the automotive industry is bringing production back to the United States. The company's Flat Rock, Mich., plant near Detroit will start making the Fusion Thursday. Ford hired a second shift of 1,400 new workers to make the Fusion at the plant, which also makes the Mustang sports car.
Canada's Bombardier has signed a preliminary agreement with a Russian state corporation for the purchase of as many as 100 Q400 NextGen aircraft in a deal that could be worth up to $3.39 billion. The Montreal-based plane and train manufacturer said the deal with Rostekhnologii also includes the possibility of setting up a Q400 NextGen final assembly line in Russia to complement its Toronto operations.
United Technologies Corp. said Tuesday that its Pratt & Whitney unit will deliver 38 jet engines to the Defense Department for the F-35 Lightning II aircraft. Besides the engines, Pratt & Whitney will also provide engineering support, spare parts and other services.
Shell Oil Co. is seeking ethane suppliers for its proposed petrochemical complex in western Pennsylvania. The company says in a statement Tuesday that it will accept bids from August 27 to October 4, 2013. Shell is still a year or more away from making a final decision on whether to build the multi-billion dollar plant at an industrial site about 40 miles north of Pittsburgh.
Indonesia said that it would curb imports of luxury cars and take other steps to bolster national finances as Southeast Asia's largest economy suffers a slumping currency and stock market. Indonesia has been buffeted by an exodus of cash from its financial markets as improving economic prospects in the U.S and Europe reverse the tide of money that swept into developing nations the past few years.
Wal-Mart Stores Inc. is hoping for a groundswell "made-in-America" movement. The world's largest retailer hosted its first two-day summit Thursday bringing together retailers, suppliers and government officials that it hopes will build on its recent commitment to drive more manufacturing in the U.S.
Jack Daniel's is being served a $100 million-plus expansion of its rural Tennessee distillery to flex more muscle in the growing whiskey market. The investment amounts to the largest single production expansion in the brand's long history.
Maker’s Row, a free service that facilitates connections between designers and the small-batch American manufacturers that can help them turn a sketch into a real product, is on a roll. The startup has recently secured $1M in funding. The users are happy too — Tanya Menendez, COO and co-founder, was pleased to hear that an American manufacturer posted their company’s profile and had a meeting in just two days.
Boeing Co. said Friday that a defect in engine fire extinguishers for its new 787 jets occurred during manufacturing of the bottles at a supplier's facility and the issue was being fixed. Boeing has told airlines to inspect the extinguishers and given them directions for fixing improperly configured fire-suppression systems.
International Airlines Group has ordered 62 Airbus aircraft in the A320 family, with a list price of $5.4 billion, to replace aging planes and expand the fleet of its Vueling discount carrier. IAG, the parent of British Airways and Iberia, says it negotiated a "substantial discount" on the list price without providing further details.
Areas in the North of England are being prepped for the controversial process of freeing fossil fuels from shale rock (or "fracking"), and residents in these rural farming communities are expressing worry about how the drilling plans will impact their communities and their livelihood.
A fuel pipeline exploded beneath a western Illinois cornfield, sending flames hundreds of feet into the sky and leaving a 15-foot-deep crater before pipeline crews were able to stem the flow of fuel and bring the fire under control, authorities said. Nobody was injured in the explosion, which was reported around 11:15 p.m. Monday.
Throughout my manufacturing career, I’ve spent many hours in customer waiting rooms, where I would always read the company mission statement if it were mounted on the wall. I must admit that I have never been comfortable with the idea of mission/vision statements because I always thought them to be statements on what the company would like to do — not what they are really capable of doing.
U.S. and Japanese officials wrapped up a round of talks aimed at reducing trade barriers Friday, but differences remained over autos, insurance and other industries. "These concerns remain," Acting Deputy U.S. Trade Representative Wendy Cutler told reporters at the U.S. Embassy in Tokyo. "The negotiations got off to a good start this week."
The European Union is pressing ahead with an investigation of whether China unfairly helps its solar panel makers with government subsidies. The European Commission, the 28-nation bloc's executive arm, had only days ago agreed to a settlement over China's alleged practice of selling its panels below cost, a practice known as dumping. But complaints over Beijing's alleged state subsidies were never settled.
U.S. and Japanese officials are holding talks in Tokyo to overcome obstacles to Japan's ongoing participation in American-led efforts to forge a regional free trade bloc. Acting deputy U.S. Trade Representative Wendy Cutler is heading the U.S. side in talks that began Wednesday on autos, insurance and non-tariff barriers to trade.
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.