G20 officials to wrestle over economic imbalances AP (November 06, 2009) ST. ANDREWS, Scotland (AP) - Finance officials from rich and developing countries face difficult negotiations over how to even out the imbalances weighing on the world economy as they gather Friday for a summit at a seaside hotel in Scotland.
Boston Scientific paying $296 million settlement AP (November 06, 2009) NEW YORK (AP) - Medical device maker Boston Scientific Corp. said Friday it will pay $296 million to settle a Department of Justice investigation into the company's Guidant unit.
Salmonella victims upset no prosecutions yet AP (November 06, 2009) ATLANTA (AP) - At the height of the nationwide salmonella outbreak nearly a year ago, FBI agents raided two peanut plants and carried away boxes of evidence. FDA inspectors found roaches, mold and a leaky roof. Then, Congress revealed e-mails from the peanut company's top executive that seemed to suggest the pursuit of profits over ensuring public safety.
Ohio governor hails Alcoa $110 million investment AP (November 06, 2009) COLUMBUS, Ohio (AP) - Alcoa Inc. plans to invest more than $110 million at its Cleveland plant in part to refurbish a forging press used in the production of the F-35 Joint Strike Fighter plane.
Ahead of the Bell: Nvidia up after beating views AP (November 06, 2009) NEW YORK (AP) - Driven by strength across all its businesses, Nvidia Corp. posted better-than-expected results for its third quarter, sending shares higher in premarket trading Friday.
China criticizes US over pipe duties AP (November 06, 2009) BEIJING (AP) - China criticized Washington for imposing anti-dumping duties on Chinese-made steel pipes and launched a probe Friday of imported U.S. autos, adding to trade tensions two weeks before President Barack Obama visits Beijing.
CF Industries rejects Agrium's newest takeover bid AP (November 06, 2009) NEW YORK (AP) - CF Industries Holdings Inc. has rejected rival fertilizer maker Agrium Inc.'s sweetened takeover bid, saying the $4.5 billion bid significantly undervalues the company.
Smart phone demand going strong in 3Q AP (November 05, 2009) FRAMINGHAM, Mass. (AP) - The global smart phone market set a record for shipments in the third quarter as it continues to weather the economic turmoil, research firm IDC said Thursday.
Ford to put air bags into back seat belts of SUV AP (November 05, 2009) DETROIT (AP) - Air bags have long been mounted in the steering wheel, dashboard and sides of vehicles. Now, they're in the seat belts.
Sara Lee 1Q profit rises 23 pct though sales fall AP (November 05, 2009) DOWNERS GROVE, Ill. (AP) - Falling commodity costs and internal cost-cutting helped food maker Sara Lee Corp.'s first-quarter profit rise 23 percent, the company said Thursday.
GM boss: Opel to pay for most of its restructuring AP (November 05, 2009) DETROIT (AP) - General Motors Co. CEO Fritz Henderson said Thursday its European Opel unit will pay for most of the $3 billion it needs to restructure.
Industry group says chip forecast is brighter AP (November 05, 2009) SAN JOSE, Calif. (AP) - The Semiconductor Industry Association said Thursday its forecast for global chip sales is brighter than its previous projections, reflecting an improving economy.
10 homes damaged in blast at nearby Utah refinery AP (November 05, 2009) SALT LAKE CITY (AP) - An explosion at a Utah oil refinery - the second this year - smashed windows, bent garage doors and peeled siding Wednesday from 10 nearby houses, officials said.
Agrium raises bid for CF Industries AP (November 05, 2009) NEW YORK (AP) - Agrium Inc. said Thursday it is raising its bid for CF Industries Holdings Inc., in a final attempt to acquire rival fertilizer maker.
EPA to impose standards on PVC plant emissions AP (November 05, 2009) NEW ORLEANS (AP) - The Environmental Protection Agency will set new nationwide emission standards for makers of polyvinyl chloride, commonly known as the plastic PVC, under a settlement with environmental groups announced Thursday.
Opel workers across Germany protest GM move AP (November 05, 2009) RUESSELSHEIM, Germany (AP) - Fearing widespread layoffs, thousands of Opel workers walked off the job across Germany on Thursday to protest General Motors Co.'s decision to abandon the unit's sale to new owners.
Cisco forecasts first revenue growth in a year AP (November 05, 2009) SAN FRANCISCO (AP) - Cisco Systems Inc. doesn't want Wall Street to interpret its forecast for its first quarterly revenue growth in a year as evidence that the U.S. and other economies are roaring back.
Panasonic begins tender offer for Sanyo takeover AP (November 05, 2009) TOKYO (AP) - Panasonic Corp. said Thursday it has started its bid to take over smaller rival Sanyo Electric Co. for an estimated 402 billion yen ($4.4 billion), moving closer to create one of the world's biggest electronics makers.
Unilever reports 36 percent fall in Q3 profit AP (November 05, 2009) AMSTERDAM (AP) - Unilever NV, maker of Dove soaps and Ben & Jerry's ice cream, saw net profit fall 36 percent for the third quarter, mostly because earnings in the same period a year ago benefited from the sale of operations.
Ford to put air bags into back seat belts AP (November 05, 2009) DETROIT (AP) - Air bags have long been mounted in the steering wheel, dashboard and sides of vehicles. Now, they're in the seat belts.
Toyota surprises with profit, boosts forecast AP (November 05, 2009) TOKYO (AP) - Toyota Motor Corp. announced Thursday a surprise profit last quarter and trimmed its projected red ink for the year, underlining the gradual recovery under way for Japan's giant automakers.
Toyota returns to profit in latest quarter AP (November 05, 2009) TOKYO (AP) - Toyota said Thursday it returned to a profit in the latest quarter as government incentives boosted sales, leading the world's largest automaker to trim its projected red ink for the year.
'Clunker' data show pickup-for-pickup trades AP (November 05, 2009) WASHINGTON (AP) - Billed as a way for the government to put more fuel-efficient vehicles on highways, the popular $3 billion Cash for Clunkers program mostly involved swaps of old Ford or Chevrolet pickups for new ones that got only marginally better gas mileage, according to an analysis of new federal data by The Associated Press.
Scotts Miracle-Gro 4Q loss narrows AP (November 05, 2009) MARYSVILLE, Ohio (AP) - The Scotts Miracle-Gro Co. said Thursday its fiscal fourth-quarter loss narrowed, crediting a sales increase stemming from continued strong consumer demand for lawn and garden products.
Delphi Automotive creates new board of directors AP (November 04, 2009) NEW YORK (AP) - Delphi Automotive LLP, which exited bankruptcy protection last month, said Wednesday that it has created a new board that will be led by former DuPont Chairman John Krol.
Apple's partner sells 5,000 iPhones in China debut AP (November 04, 2009) BEIJING (AP) - Apple Inc.'s local partner has sold 5,000 iPhones since the smart phone's formal weekend debut in China, a lackluster start after analysts warned the company might be setting prices too high.
Explosion reported as fire breaks out at refinery AP (November 04, 2009) WOODS CROSS, Utah (AP) - A fire broke out at a refinery north of Salt Lake City on Wednesday, reportedly causing an explosion that damaged homes.
Germany fumes over GM ditching Opel sale to Magna AP (November 04, 2009) BERLIN (AP) - Germany's politicians fumed with anger and Opel workers cancelled cost concessions and readied walkouts after General Motors Co. abandoned the sale of its European subsidiary to parts maker Magna International and Russian bank Sberbank.
Molson Coors 3Q profit rises 37 pct on price hikes AP (November 04, 2009) DENVER (AP) - Brewer Molson Coors says its third-quarter profit rose 37 percent although revenue fell as consumers bought less beer but paid higher prices for it.
Garmin to release third-quarter earnings AP (November 04, 2009) OLATHE, Kan. (AP) - Navigational device maker Garmin Ltd. is expected to report lower third-quarter profits and revenues from a year ago.
Nissan returns to quarterly profit on China sales AP (November 04, 2009) TOKYO (AP) - Japanese automaker Nissan Motor Co. climbed into the black last quarter and forecast a smaller yearly loss as surging sales in China helped offset sluggish demand in the West.
TRW Automotive turns 3Q profit on lower costs AP (November 04, 2009) LIVONIA, Mich. (AP) - TRW Automotive Holdings Corp. posted a third-quarter profit of $56 million on Wednesday, as cost cuts helped the auto parts supplier recover from a loss a year earlier. It also raised its full-year sales forecast.
Terra rejects CF's latest takeover offer AP (November 04, 2009) SIOUX CITY, Iowa (AP) - Fertilizer company Terra Industries Inc. on Wednesday rejected its bigger rival CF Industries' latest unsolicited takeover offer, saying the $4.1 billion bid was still too low.
Delphi Automotive creates new board of directors AP (November 04, 2009) NEW YORK (AP) - Delphi Automotive LLP, which exited bankruptcy protection last month, said Wednesday that it has created a new board that will be led by former DuPont Chairman John Krol.
Ahead of the Bell: Factory orders AP (November 03, 2009) WASHINGTON (AP) - Factory orders are expected to show a gain in September in a further sign of a revival in manufacturing that should help support the overall economy.
DuPont forecasts 2010 earnings per share growth AP (November 03, 2009) WILMINGTON, Del. (AP) - DuPont expects earnings growth next year by concentrating on key areas such as food production, environmental protection and emerging market opportunities.
BMW 3Q net income falls 74 percent to euro78 million AP (November 03, 2009) FRANKFURT (AP) - German carmaker BMW AG said Tuesday its net income fell 74 percent in the third quarter as it continued to be affected by the global economic downturn.
Johnson & Johnson sets restructuring, plans charge AP (November 03, 2009) NEW YORK (AP) - Johnson & Johnson said Tuesday it will trim layers of management, cut thousands of jobs, and set other restructuring moves in order to save up to $900 million next year.
Diebold posts 3Q loss on voting unit sale charge AP (November 03, 2009) NORTH CANTON, Ohio (AP) - ATM maker Diebold Inc. on Tuesday posted a third-quarter loss as it absorbed a big loss on the sale of its voting machine business. It also cut its full year profit and revenue forecast.
2 Ford Motor senior executives to retire AP (November 03, 2009) DEARBORN, Mich. (AP) - Ford Motor Co., which surprised the market by posting a third-quarter profit, said Tuesday that two of its senior executives are retiring.
EU lifts 2010 growth forecast AP (November 03, 2009) BRUSSELS (AP) - The European Commission on Tuesday predicted that the EU and eurozone will grow in 2010 at a modest rate of 0.7 percent as the economy moves from a sharp recession to a hesitant and fragile recovery.
Martin Marietta posts 16 pct decline in 3Q profit AP (November 03, 2009) RALEIGH, N.C. (AP) - Martin Marietta Materials Inc., a maker of construction materials, said Tuesday its third-quarter net income slid 16 percent as delays in infrastructure projects hurt revenue.
Mass. window maker to close 1 plant, move jobs AP (November 03, 2009) SPRINGFIELD, Mass. (AP) - Window and door manufacturer Harvey Building Products has announced plans to close its Springfield facility and move about 100 jobs to other locations in New England.
GM posts 1st monthly sales gain in almost 2 years AP (November 03, 2009) DETROIT (AP) - GM reported its first monthly gain in U.S. sales in almost two years while Toyota and Ford also improved, a sign the auto industry it starting to crawl back from a yearlong slump.
Police repost motorized recliner from DWI on eBay AP (November 03, 2009) PROCTOR, Minn. (AP) - Police in Minnesota have had to start over again an online auction for a motorized recliner used by a man who pleaded guilty to driving it drunk.
Raided SC poultry plant mends hiring, avoids trial AP (November 03, 2009) COLUMBIA, S.C. (AP) - A South Carolina poultry plant raided by immigration agents last year has agreed to change its hiring practices under supervision to avoid federal charges of knowingly employing illegal immigrants, federal prosecutors said Tuesday.
Archer Daniels Midland profit falls on weak demand AP (November 03, 2009) ST. LOUIS (AP) - Archer Daniels Midland Co. said Tuesday that its first-quarter profit tumbled 53 percent as the global recession dragged down demand for crops and ethanol, but demand is improving in some key markets.
Air New Zealand to replace Boeing jets with Airbus AP (November 03, 2009) PARIS (AP) - Air New Zealand has ordered 14 Airbus single-aisle A320 aircraft worth $1.07 billion at catalog prices to replace Boeing jets, the European plane maker said Tuesday.
Factory orders rise 0.9 percent in September AP (November 03, 2009) WASHINGTON (AP) - Orders to U.S. factories rebounded in September, helped by strength in autos, heavy machinery and military aircraft.
ArcelorMittal vows not to shut European plants AP (November 03, 2009) BRUSSELS (AP) - ArcelorMittal SA, the world's largest steel maker, told trade unions Tuesday that it does not plan to shut down any of its European plants.
J&J says it could cut more than 8,000 jobs AP (November 03, 2009) NEW YORK (AP) - Johnson & Johnson said Tuesday it will trim layers of management, cut thousands of jobs, and set other restructuring moves in order to save up to $900 million next year.
EPA adds US Magnesium to Superfund site list AP (November 03, 2009) SALT LAKE CITY (AP) - The U.S. Environmental Protection Agency has added the U.S. Magnesium site near Utah's Great Salt Lake to the federal Superfund list.
Stanley sees cost savings in Black & Decker deal AP (November 03, 2009) CHICAGO (AP) - Tool makers Stanley Works and Black & Decker Corp. are betting that together they can wring out more profit and better position themselves for a housing market recovery than they could apart.
Marathon production rising; profits tumble AP (November 03, 2009) (AP) - Marathon Oil said Tuesday that its third quarter profit plunged from a year ago when record-high prices sent gasoline prices over $4 per gallon.
Prosecutors reach agreement with SC poultry plant AP (November 03, 2009) COLUMBIA, S.C. (AP) - Federal prosecutors are giving a South Carolina poultry plant facing immigration violations two years to get in line with federal practices.
Dow names CFO Merszei to overseas posts AP (November 03, 2009) MIDLAND, Mich. (AP) - Dow Chemical Co. on Tuesday said chief financial officer Geoffery Merszei will leave that post and take on the roles of president of Dow Europe, Middle East and Africa, chairman of Dow Europe and executive vice president of The Dow Chemical Co.
Obama: Private, public sectors must create jobs AP (November 02, 2009) WASHINGTON (AP) - President Barack Obama said Monday the public and private sectors must find more ways to create jobs to continue the nation's climb out of an economic recession.
WASHINGTON (AP) - Many communities hit hardest by job losses, those built around dying factories and mills, have been slowest to see relief from President Barack Obama's stimulus plan, underscoring how hard it is for Washington policymakers to cr
Mass. considers clampdown on toxic substances AP (November 02, 2009) BOSTON (AP) - Massachusetts lawmakers are considering tighter restrictions on the use of toxic chemicals in consumer products as a way to encourage the use of safer alternatives.
Fire at Michigan welding company, 1 hospitalized AP (November 02, 2009) MARYSVILLE, Mich. (AP) - Multiple explosions rocked a Michigan welding supply plant after a settling tank burst into flames on Monday, sending at least one person to the hospital and prompting several nearby homes and businesses to evacuate, authorities said.
Cooper Tire posts 3Q profit, shares rise AP (November 02, 2009) FINDLAY, Ohio (AP) - Cooper Tire & Rubber Co. said Monday it earned $46.8 million in the third quarter, citing lower raw material costs than a year ago, manufacturing improvements and higher sales volumes. Its shares rose more than 9 percent by late morning.
SC governor signs incentive package for Boeing AP (October 30, 2009) NORTH CHARLESTON, S.C. (AP) - A $750 million Boeing 787 assembly plant is expected to bring thousands of badly needed jobs to South Carolina's ailing economy and, officials hope, a closer look at the state by other industrial prospects.
Stronger dollar weighs on Avon Products in 3Q AP (October 29, 2009) NEW YORK (AP) - Avon Products Inc. said Thursday having 10 percent more people selling its products during the third quarter helped sales, but the stronger dollar hurt its revenue from some markets, and its profit fell 30 percent.
Oprah on the road? Chrysler offers live TV service AP (October 29, 2009) AUBURN HILLS, Mich. (AP) - Chrysler Group LLC says it will begin offering customers a television service in their vehicles featuring up to 20 channels of live TV.
BASF 3Q net falls 69 percent to euro237 million AP (October 29, 2009) FRANKFURT (AP) - German chemical company BASF SE said Thursday net income fell 69 percent in the third quarter as the global downturn hurt demand and prices for the company's products.
P&G reports profits off 1 percent in 1Q AP (October 29, 2009) CINCINNATI (AP) - The Procter & Gamble Co. sees consumers around the globe starting to come back to its household brands and expects sales to strengthen in the months ahead.
Mazda, Mitsubishi slide into red in first half AP (October 29, 2009) TOKYO (AP) - Mazda and Mitsubishi Motors - Japan's No. 4 and No. 5 automakers - reported half-year net losses Thursday, battered by plunging sales and the strong yen.
Nintendo's profit dives as Wii demand dwindles AP (October 29, 2009) TOKYO (AP) - Nintendo's first-half profit plunged as sales of its hit Wii home console fizzled, forcing the maker of Super Mario and Pokemon games to forecast annual earnings would fall for the first time in six years.
Alcoa working with China on commercial jetliner AP (October 29, 2009) NEW YORK (AP) - Alcoa Inc. said Thursday it is working with China on the development of the country's newest and biggest commercial jetliner.
3Q GDP growth tarnishes safe dollar's appeal AP (October 29, 2009) NEW YORK (AP) - The U.S. economy is growing again, and that's driving the dollar lower in morning trading Thursday.
Economy grows in 3Q, signals end of recession AP (October 29, 2009) WASHINGTON (AP) - The economy grew at a 3.5 percent pace in the third quarter, the best showing in two years, fueled by government-supported spending on cars and homes. It's the strongest signal yet that the economy has entered a new, though fragile, phase of recovery and that the worst recession s
Mont. jury awards $850,000 in aluminum bat lawsuit AP (October 29, 2009) HELENA, Mont. (AP) - A jury on Wednesday found that the maker of Louisville Slugger baseball bats failed to adequately warn about the dangers the product can pose, awarding a family $850,000 for the 2003 death of their son in a baseball game.
Kellogg 3Q profit rises on strong brand loyalty AP (October 29, 2009) BATTLE CREEK, Mich. (AP) - Kellogg Co. said Thursday that shoppers' loyalty to its cereal brands helped boost its profit 6 percent in the third quarter.
Motorola posts 3Q profit, names permanent CFO AP (October 29, 2009) NEW YORK (AP) - Motorola Inc. reported an unexpected quarterly profit Thursday as operating losses in its struggling mobile phone division narrowed. The company also forecast stronger-than-anticipated earnings for the current period.
Obama to lay out plans to help small businesses AP (October 29, 2009) WASHINGTON (AP) - President Barack Obama speaks Thursday morning to small business leaders about the administration's plans to offer them assistance.
Colgate-Palmolive 3Q profit rises 18 percent AP (October 29, 2009) NEW YORK (AP) - Consumer products maker Colgate-Palmolive Co.'s third-quarter profit rose 18 percent as new products took market share and shoppers continued to pay higher prices for its products.
Kodak posts fourth straight quarterly loss AP (October 29, 2009) ROCHESTER, N.Y. (AP) - Eastman Kodak Co. lost money for a fourth straight quarter and missed Wall Street expectations but struck a more-confident note Thursday that its photography and printing businesses are rebounding from their worst levels during the economic downturn.
Geithner says economy on the mend AP (October 29, 2009) WASHINGTON (AP) - Treasury Secretary Timothy Geithner said he sees positive signs that the economy is recovering, although the recession remains "alive and acute" for families dealing with unemployment and facing home foreclosure.
Timken posts second straight quarterly loss AP (October 29, 2009) CANTON, Ohio (AP) - Timken Co. said Thursday it lost money for a second consecutive quarter, hurt by plummeting sales of its specialty steel products and lower production and surcharges.
VW 3Q net income falls 86 percent to euro172 million AP (October 29, 2009) FRANKFURT (AP) - German carmaker Volkswagen AG said Thursday net income for the third quarter plunged 86 percent as the global downturn affected demand for its cars and trucks.
General Dynamics 3Q profit falls on low jet demand AP (October 28, 2009) WASHINGTON (AP) - General Dynamics Corp. said Wednesday its third-quarter earnings sank nearly 10 percent hurt by weak demand for business jets, but sales in all of its defense-related segments experienced sales gains, leading the military contractor to boost its profit outlook for the year.
Japan's automakers set production records in China AP (October 28, 2009) TOKYO (AP) - Japanese automakers are experiencing a production boom in China with Toyota, Honda and Nissan setting records for September - the latest signs of an emerging recovery for Japan's auto industry.
Durable goods orders rise 1 percent in September AP (October 28, 2009) WASHINGTON (AP) - Orders to U.S. factories for big-ticket manufactured goods rose in September as the biggest jump in demand for machinery in 18 months offset weakness in commercial aircraft and autos.
Sen. Murray asking Boeing, machinists to talk AP (October 28, 2009) WASHINGTON (AP) - Sen. Patty Murray's office says she's trying to arrange talks Wednesday in Washington, D.C., between Boeing and the Machinists union.
Ford: China's Geely preferred bidder for Volvo AP (October 28, 2009) DETROIT (AP) - Ford Motor Co. has picked a consortium led by China's Geely Group as the preferred bidder to buy its Swedish Volvo Cars unit, the U.S. automaker said Wednesday.
International Paper's 3Q profit soars on tax item AP (October 28, 2009) MEMPHIS, Tenn. (AP) - International Paper, the world's biggest wood products company, said Wednesday its third-quarter profit more than doubled as a huge federal tax credit more than offset falling sales of cardboard box materials.
Goodyear profit more than doubles in 3Q AP (October 28, 2009) CLEVELAND (AP) - Goodyear Tire & Rubber Co.'s profit more than doubled in the third quarter, helped by cost-cutting, new products and lower raw-material costs, the largest U.S. tiremaker said Wednesday.
Newell Rubbermaid 3Q profit climbs on cost cuts AP (October 28, 2009) ATLANTA (AP) - Newell Rubbermaid Inc. said Wednesday that cost-control efforts and its decision to stop making some of its less-profitable products helped push its third-quarter profit higher even as sales declined.
Mo. smelter downplays EPA concerns about lead AP (October 28, 2009) ST. LOUIS (AP) - The Doe Run Co. on Tuesday downplayed the extent of lead contamination at properties near its Herculaneum lead smelter, but the U.S. Environmental Protection Agency stood by tests showing many neighboring homes had tainted soil.
Jones Apparel posts 3Q profit, despite weak sales AP (October 28, 2009) NEW YORK (AP) - Jones Apparel Group Inc. on Wednesday posted a sharply higher-than-expected profit in its third quarter, despite a drop in sales as the retailer cut costs and tightened inventories.
PepsiAmericas lowers full-year adj. profit outlook AP (October 28, 2009) MINNEAPOLIS (AP) - PepsiAmericas Inc. lowered its full-year adjusted profit outlook Wednesday, saying it expects factors pressuring its business - such as the recession - to continue.
Coca-Cola Enterprises raises 2009 profit forecast AP (October 28, 2009) ATLANTA (AP) - Coca-Cola Enterprises, the largest bottler of Coca-Cola drinks, raised its 2009 profit forecast Wednesday after saying its third-quarter results rose on the strength of higher prices.
ArcelorMittal sees profit after 3 quarterly losses AP (October 28, 2009) BRUSSELS (AP) - ArcelorMittal SA, the world's largest steel maker, on Wednesday posted a $903 million profit in the third quarter, its first after three consecutive quarterly losses, as it saw the first signs of a gradual recovery in demand.
US Steel posts 3rd straight quarterly loss AP (October 27, 2009) PITTSBURGH (AP) - United States Steel Corp. said Tuesday it lost money for a third straight quarter as the global economic downturn continued to dampen demand for the metal.
Honda raises forecast, avoids loss for first half AP (October 27, 2009) TOKYO (AP) - Japanese government incentives for green cars and strong sales in China helped Honda Motor Co. avoid red ink for the first half and raise its full year profit forecast.
Johnson Controls posts 4Q profit, backs guidance AP (October 27, 2009) MILWAUKEE (AP) - Johnson Controls Inc. said Tuesday that cost cuts and operational improvements bolstered its profit in the fourth quarter, helping to offset the effects of the continued weak economy on its sales.
Avery Dennison 3Q profit flat as sales decline AP (October 27, 2009) PASADENA, Calif. (AP) - Adhesive label and retail ticket maker Avery Dennison Corp. on Tuesday posted a flat third-quarter profit, weighed down by a 10 percent sales decline.
Vishay to spin off 2 businesses to shareholders AP (October 27, 2009) MALVERN, Pa. (AP) - Vishay Intertechnology Inc. said Tuesday it plans to spin off its measurements and foil resistor businesses into an independent, publicly traded company called Vishay Precision Group Inc.
Gov. Riley announces launch of Aerospace Alliance AP (October 27, 2009) BAY MINETTE, Ala. (AP) - The governors of Alabama, Louisiana and Mississippi have announced the launch of an alliance designed to create an aerospace and aviation corridor from Panama City, Fla., to Louisiana.
Textron 3Q profit plunges on weak markets AP (October 27, 2009) PROVIDENCE, R.I. (AP) - Textron Inc. said Tuesday its third-quarter profit plunged 98 percent as the company continues to face reduced sales at its corporate jet and helicopter businesses.
Fisker to build hybrid cars at idled Del. GM plant AP (October 27, 2009) WILMINGTON, Del. (AP) - California luxury automaker Fisker Automotive is buying an idled General Motors assembly plant in Delaware to produce plug-in hybrid electric cars.
Dubai port firm says trade starting to stabilize AP (October 27, 2009) DUBAI, United Arab Emirates (AP) - Cargo handler DP World says trade volumes appear to be stabilizing after suffering their worst slump in decades because of the economic downturn.
Dr. Pepper Snapple finance chief to retire AP (October 27, 2009) PLANO, Texas (AP) - The chief financial officer of Dr. Pepper Snapple Group Inc. will retire at the end of March, the soft drink maker said Tuesday.
Celanese 3Q profit soars on tax gain; shares rise AP (October 27, 2009) DALLAS (AP) - Chemical maker Celanese Corp. on Tuesday said its third-quarter earnings more than doubled on a one-time tax benefit, but operational income tumbled on deteriorating sales prices and volumes.
Biden tells Ohio stimulus program helping economy AP (October 27, 2009) CLEVELAND (AP) - Vice President Joe Biden told an Ohio audience that the federal economic stimulus package is helping to revive the U.S. economy and has helped stabilized the financial markets.
EU approves Pepsi bottlers merger AP (October 27, 2009) LUXEMBOURG (AP) - The European Union on Tuesday approved the proposed takeover by PepsiCo Inc. of its two top bottling companies for $7.8 billion.
Electrolux 3Q profit rises 93 percent AP (October 26, 2009) STOCKHOLM (AP) - Swedish appliance maker Electrolux AB on Monday reported a 93 percent rise in third-quarter profit as cost cuts and increased prices on its products helped it defy weak market demand.
US safety chief says China helping on drywall AP (October 26, 2009) BEIJING (AP) - China is helping American officials investigate reports of contaminated Chinese drywall after thousands of American homeowners complained the building material made them sick or damaged their houses, a top U.S. safety official said Monday.
Corning 3Q profit off, but TV glass demand grows AP (October 26, 2009) ROCHESTER, N.Y. (AP) - Corning Inc. said Monday that demand is rebounding for its flat-screen television glass but the specialty glass maker's third-quarter profit fell from a year ago as overall sales slipped.
Sources: Fisker to build plug-in cars in Delaware AP (October 23, 2009) DOVER, Del. (AP) - Fisker Automotive, a California-based startup manufacturer of luxury electric vehicles, plans to build plug-in electric cars at a former General Motors assembly plant in Delaware, people with knowledge of the situation said Friday.
Fortune Brands 3Q profit falls, raises outlook AP (October 23, 2009) DEERFIELD, Ill. (AP) - Fortune Brands Inc., a seller of consumer goods ranging from faucets to bourbon, said Friday that its third-quarter profit dropped 63 percent as the prior-year's results included a hefty gain related to the termination of a joint venture.
GM board to meet Nov. 3, will discuss Opel sale AP (October 23, 2009) FRANKFURT (AP) - A General Motors Co. executive says the company's board will meet Nov. 3 and discuss concerns about the sale of European unit Adam Opel GmbH, but he is not providing details on progress or a time frame for the actual transaction.
Fla. insurer renews policy despite Chinese drywall AP (October 23, 2009) WEST PALM BEACH, Fla. (AP) - Florida's public insurance company reversed course this week and said it will cover a couple's Gulf Coast retirement home, after previously telling the homeowners their policy wouldn't be renewed because of the home's tainted Chinese drywall.
Honeywell 3Q profit falls but tops expectations AP (October 23, 2009) (AP) - Honeywell International Inc. said Friday its third-quarter profit fell 15 percent as sales dropped in all its divisions with key markets in aviation and industrial products continuing to struggle.
Kia Motors quarterly profit swells to $339 million AP (October 23, 2009) SEOUL, South Korea (AP) - Kia Motors Corp. said net profit swelled to a record 402 billion won ($339 million) in the third quarter boosted by a weak South Korean won and global efforts to spur demand for vehicles, sending its shares sharply higher.
German business confidence rises in October AP (October 23, 2009) FRANKFURT (AP) - German business confidence rose for a seventh consecutive month in October as Europe's largest economy showed more signs of recovery and firms' outlook for exports improved, a survey found Friday.
Safety board to investigate Tesoro refinery fire AP (October 23, 2009) SALT LAKE CITY (AP) - The U.S. Chemical Safety Board says it is sending a three-person team to investigate a fire at the Tesoro Corp. refinery in Salt Lake City.
Ingersoll-Rand 3Q profit falls 5 pct AP (October 23, 2009) SWORDS, Ireland (AP) - Ingersoll-Rand PLC reported its third-quarter earnings slipped 5 percent as revenue tumbled 19 percent amid weak economic conditions that have depressed demand for its products and services that range from air conditioning to electronic security systems.
Whirlpool profit slips; cost-cuts raise outlook AP (October 23, 2009) MILWAUKEE (AP) - Whirlpool, the world's biggest home appliance maker, raised its profit outlook for the year, saying cost cutting that has helped it withstand steep sales declines will pay off in the final quarter of the year.
Truck maker Volvo posts 3Q loss as sales fall AP (October 23, 2009) STOCKHOLM (AP) - Swedish truck maker AB Volvo on Friday reported a third-quarter net loss of 2.9 billion kronor ($423 million), due to a steep drop in sales in Europe and the U.S., but said demand was stabilizing, particularly in Asia.
Xerox posts drop in 3Q earnings AP (October 22, 2009) NORWALK, Conn. (AP) - Xerox Corp. reported a 52 percent drop in its third-quarter profit Thursday as companies continue to spend cautiously on printer and copier supplies and take longer to upgrade office equipment.
NCR 3Q profit slides, plans to cut jobs AP (October 22, 2009) DULUTH, Ga. (AP) - ATM machine maker NCR Corp. says its profit slumped 81 percent in the third quarter and it plans to cut up to 10 percent of its global work force to reduce costs.
Ericsson 3Q profits drop 71 percent AP (October 22, 2009) STOCKHOLM (AP) - Wireless equipment maker LM Ericsson AB on Thursday said profits tumbled 71 percent in the third quarter, worse than markets expected, as cash-strapped mobile operators cut spending on their networks.
Caterpillar picks Oberhelman as next CEO AP (October 22, 2009) PEORIA, Ill. (AP) - Caterpillar Inc., the world's largest maker of construction and mining equipment, said Thursday that Douglas Oberhelman will become the company's CEO starting in July of next year.
Kimberly-Clark 3Q profit rises 41 percent AP (October 22, 2009) DALLAS (AP) - Kimberly Clark Corp., the maker of Huggies diapers and Kleenex tissues, said Thursday its profit jumped 41 percent in the second quarter because of higher prices on its products and lower commodity and energy costs.
3M's 3Q weaker but Asia provides surprising boost AP (October 22, 2009) ST. PAUL, Minn. (AP) - 3M Co., which makes everything from Post-It Notes to insect repellent, said Thursday strong sales of health care products in flu-wary Asia helped lift earnings beyond analyst expectations in the third quarter.
Reynolds American 3Q profit jumps 72 percent AP (October 22, 2009) RICHMOND, Va. (AP) - Cigarette maker Reynolds American Inc. said Thursday despite selling fewer cigarettes, its profit surged 72 percent from last year's third-quarter, when charges from trademark impairment and restructuring dampened its earnings.
Dow Chemical revenues slide; company cuts spending AP (October 22, 2009) MIDLAND, Mich. (AP) - Dow Chemical said Thursday that revenues slid in the third quarter and the company that makes the basic ingredients for everything from toys to cars is not counting on better conditions this year or next.
Md. panel OKs slot machine license for Cecil Co. AP (October 22, 2009) ANNAPOLIS, Md. (AP) - A state commission approved a license Wednesday for 1,500 slot machines in Cecil County - the second license awarded so far - and the panel also urged local officials in Anne Arundel County to resolve zoning issues on another site by December.
EMC net falls but co. sees better storage spending AP (October 22, 2009) SAN FRANCISCO (AP) - EMC Corp. said Thursday its profit fell 24 percent and sales dropped 5 percent in the latest quarter as corporations spent less on data storage.
Goodrich cuts 2009 sales outlook AP (October 22, 2009) CHARLOTTE, N.C. (AP) - Aerospace supplier Goodrich Corp. on Thursday backed its 2009 profit prediction, but cut its sales forecast.
Alabama-built warship tops out at more than 50 mph AP (October 22, 2009) MOBILE, Ala. (AP) - The second of the Navy's new generation of speedy warships designed to operate close to shore topped 50 mph in builder trials completed this month.
Hyundai Motor profit surges amid sales jump AP (October 22, 2009) SEOUL, South Korea (AP) - Hyundai Motor Co., South Korea's largest automaker and a growing force in the global industry, said third-quarter net profit more than tripled to a record high amid sharply higher sales.
Hershey 3Q profit up 30 pct, aided by lower costs AP (October 22, 2009) HARRISBURG, Pa. (AP) - Hershey, the nation's second-largest candymaker, said Thursday that its third-quarter profit rose 30 percent, helped by price increases and lower restructuring costs.
Nestle: 9-month sales fall 2.2 percent AP (October 22, 2009) VEVEY, Switzerland (AP) - Nestle SA, the world's biggest food and drink company, said Thursday that sales for the first nine months fell 2.2 percent as the strong Swiss franc and weakened demand hurt overall performance.
Raytheon posts 3Q profit rise on missile demand AP (October 22, 2009) WASHINGTON (AP) - Raytheon Co. said Thursday profit rose in the third quarter on increased demand for the defense contractor's Patriot missile by foreign governments, and for its soldier training programs.
Auto task force shocked by state of GM, Chrysler AP (October 21, 2009) WASHINGTON (AP) - The shockingly poor financial management of General Motors and Chrysler weakened their case for a government bailout, but officials feared letting the automakers collapse would severely harm the U.S. economy, the former head of the Obama administration's auto task force says.
CPSC eyes side-by-side recreational vehicles AP (October 21, 2009) WASHINGTON (AP) - The federal government is taking a closer look at off-road recreational vehicles, known as ROVs, after dozens of deaths.
Altria Group 3Q profit rises on cost-cutting AP (October 21, 2009) RICHMOND, Va. (AP) - Altria Group Inc. said Wednesday that cost-cutting and improved results from its cigar unit led its third-quarter profit to rise 1.7 percent, even though it sold fewer cigarettes.
Boeing posts $1.6B loss in 3Q on plane charges AP (October 21, 2009) (AP) - Boeing Co. lost $1.6 billion in the third quarter as hefty charges from its delayed 787 and revamped 747 dragged down results. Those charges also forced the airplane maker to slash this year's profit forecast.
Cadbury lifts outlook, raising bar for Kraft bid AP (October 21, 2009) LONDON (AP) - British chocolate and gum maker Cadbury PLC on Wednesday upgraded its outlook as it reported a 7 percent rise in third-quarter revenue - proof, it said, that it does not need to be taken over by a conglomerate like Kraft to deliver results.
Northrop Grumman posts 3Q dip but lifts outlook AP (October 21, 2009) WASHINGTON (AP) - Northrop Grumman Corp. said Wednesday earnings for the third quarter were hurt by higher pension costs, but solid revenue pushed results well past analyst estimates. The maker of military aircraft and defense electronics also lifted its profit outlook for the year.
Taser issues advisory on use of stun guns AP (October 21, 2009) PHOENIX (AP) - Taser International is advising police agencies across the nation not to shoot its stun guns at a suspect's chest.
Stanley Works profit falls in 3rd quarter AP (October 21, 2009) NEW BRITAIN, Conn. (AP) - Stanley Works Co. said Wednesday its third-quarter profit fell nearly by two-thirds on continuing weakness in its industrial tools market and an unfavorable comparison with same period last year when the tool maker recorded profit from discontinued operations.
Automaker Fiat's profit drops 95 pct in 3Q AP (October 21, 2009) MILAN (AP) - Italian automaker Fiat Group SpA saw profits plunge in the third quarter as falling sales of trucks and farm equipment outweighed a boost in car sales from cash-for-clunkers programs.
Generac Holdings files for IPO AP (October 21, 2009) WAUKESHA, Wis. (AP) - Generac Holdings Inc., which makes portable and standby generators, said late Tuesday that it filed for an initial public offering of $300 million in common stock.
Allegheny Technologies 3rd-quarter profit tumbles AP (October 21, 2009) PITTSBURGH (AP) - Specialty metals producer Allegheny Technologies Inc. said Wednesday its profit was decimated in the third quarter from the same period last year due to significantly lower raw material surcharges and a drop in shipments.
Miss. lawmakers hear talk of possible session AP (October 21, 2009) JACKSON, Miss. (AP) - Several Mississippi lawmakers say they've heard a special session is possible in the next couple of weeks, with speculation that it would involve incentives for a proposed auto plant in Tunica County, but Gov. Haley Barbour has not made an announcement.
United Tech 3Q profit down 17 percent AP (October 20, 2009) HARTFORD, Conn. (AP) - United Technologies Corp. continued to feel the impact of the downturn in aerospace and real estate markets as nearly all its businesses posted declines in the third quarter.
Coach fiscal 1Q profit falls slightly; sales rise AP (October 20, 2009) NEW YORK (AP) - Coach Inc.'s fiscal first-quarter profit fell slightly, but revenue rose as new, lower-priced handbag lines helped juice sales.
Caterpillar 3Q profit drops 53 pct on weaker sales AP (October 20, 2009) (AP) - Caterpillar sees signs of a recovery and said its sales will improve next year as dealers start restocking the company's yellow-and-black equipment used in construction and mining.
Lockheed Martin's 3Q profit rises on plane sales AP (October 20, 2009) WASHINGTON (AP) - Lockheed Martin Corp. said Tuesday that its third-quarter earnings rose amid a flurry of sales of military aircraft, including the C-130J transport plane and Joint Strike Fighter, and one commercial satellite delivery.
Investors lap up Apple's 47 percent profit jump AP (October 20, 2009) SEATTLE (AP) - Wall Street knew Apple Inc.'s results for the most recent quarter would blow past the company's guidance, but investors clearly weren't prepared for the 47 percent jump in profit that Apple delivered.
Toyota pushes into SKorea, home turf of Hyundai AP (October 20, 2009) SEOUL, South Korea (AP) - Toyota is making a push into South Korea - the home market of international rival Hyundai Motor Co. - introducing four models including the Camry and Prius while downplaying the move as a direct challenge to domestic automakers.
China auto output hits 10 mln units for 1st time AP (October 20, 2009) SHANGHAI (AP) - China's annual auto production surpassed 10 million for the first time on Tuesday, as a new "Liberation" model truck rolled off the assembly line at state-owned First Automobile Works, state media reported.
Coca-Cola 3rd-quarter profit risess slightly AP (October 20, 2009) ATLANTA (AP) - The Coca-Cola Co. said Tuesday its third-quarter profit inched higher, as sales fell as consumers continued to limit soft drink purchases and the stronger dollar took a toll on revenue.
Hasbro 3Q net income rises 8.8 percent AP (October 19, 2009) NEW YORK (AP) - Hasbro says its profit grew 8.8 percent in the third quarter, helped by lower costs and slightly higher sales of Transformers and G.I. Joe toys.
Spanish workers reject Magna offer AP (October 19, 2009) MADRID (AP) - A Spanish labor representative says unions have rejected Magna's latest offer concerning the future of an Opel plant targeted for job cuts and will vote on calling a strike.
Eaton posts sharp 3Q profit decline AP (October 19, 2009) CLEVELAND (AP) - Eaton Corp., the industrial equipment maker, said Monday its third quarter profit fell 39 percent, but said it sees improvement in key markets that will help it beat its earlier projections for the full year.
Hasbro 3Q profit rises 8.8 pct on cost-cutting AP (October 19, 2009) NEW YORK (AP) - Hasbro Inc, the nation's second biggest toymaker, said Monday its profit rose 8.8 percent in the third quarter, helped by lower costs and slightly higher sales of Transformers and G.I. Joe toys.
Oil jumps above $79 in Asia to 2009 high AP (October 19, 2009) SINGAPORE (AP) - Oil prices jumped above $79 a barrel to a 2009 high Monday in Asia as investors looked to the corporate earnings of big U.S. retailers this week for signs consumers may be regaining confidence.
China growth more than 7 pct in January-September AP (October 19, 2009) SHANGHAI (AP) - China's economy expanded more than 7 percent in the first nine months of the year and will certainly surpass the 2009 growth target of 8 percent, a top economic official said Monday.
Daimler starts construction of Hungary car plant AP (October 16, 2009) FRANKFURT (AP) - German carmaker Daimler AG started construction Friday on a new euro800 million ($1.2 billion) car production facility in Kecskemet, Hungary, near Budapest, the company said.
Investigators find flaws in Army body armor tests AP (October 16, 2009) WASHINGTON (AP) - The Army made critical mistakes in tests of a new body armor design, according to congressional investigators who recommend an independent review of the trials before the gear is issued to troops in Iraq and Afghanistan.
China's trade slump eases in September, loans rise AP (October 14, 2009) SHANGHAI (AP) - China's export slump eased in September as global demand showed signs of recovery and banks stepped up lending to help fuel a turnaround in the world's No. 3 economy.
ASML returns to profit in third quarter, orders up AP (October 14, 2009) AMSTERDAM (AP) - ASML Holding NV, a key supplier to computer chip makers, reported Wednesday a net profit of euro20 million ($29.7 million) for the third quarter, ending a nine-month streak of losses, and said new orders had increased sharply.
PepsiCo iPhone app draws fire for stereotyping AP (October 14, 2009) MILWAUKEE (AP) - PepsiCo Inc. is facing criticism for an iPhone application that promises to help men "score" with two dozen stereotypes of women by giving users pickup lines and a scoreboard to keep track of their conquests.
Ford adds 4.5M vehicles to defective switch recall AP (October 14, 2009) DETROIT (AP) - Ford Motor Co. said Tuesday it will add 4.5 million older-model vehicles to the long list of those recalled because a defective cruise control switch could cause a fire.
Business inventories decline 1.5 percent in August AP (October 14, 2009) WASHINGTON (AP) - Businesses slashed inventories for a 13th consecutive month in August although sales posted a third straight increase.
Opening arguments in slaughterhouse fraud trial AP (October 14, 2009) SIOUX FALLS, S.D. (AP) - Opening arguments are set to begin in the financial fraud trial of a former manager of an Iowa kosher slaughterhouse that was the site of a massive immigration raid.
Next German gov't to cut solar subsidies AP (October 14, 2009) BERLIN (AP) - Germany's next government is considering slashing subsidies to renewable energy industries, particularly solar, an energy expert with Chancellor Angela Merkel's Christian Democrats said Tuesday.
Pratt & Whitney battles Conn. official over jobs AP (October 14, 2009) HARTFORD, Conn. (AP) - Jet engine manufacturer Pratt & Whitney is fighting the Connecticut attorney general's legal effort to help workers block the move of 1,000 jobs from the state.
General Motors aiming to beat China market growth AP (October 14, 2009) SHANGHAI (AP) - General Motors Co. is aiming to beat the already fast pace of growth in the Chinese market, with sales in 2009 possibly surpassing 1.6 million vehicles, its China President Kevin Wale said Wednesday.
Texas heavy industries worry about EPA crackdown AP (October 14, 2009) DALLAS (AP) - For 15 years, environmentalists have complained that state regulations have allowed the powerful oil and chemical industries to skirt Clean Air Act standards in Texas, the nation's foremost producer of industrial air pollution.
Euro industry output rises 0.9 percent in August AP (October 14, 2009) BRUSSELS (AP) - Industrial output in the 16 nations that use the euro rose 0.9 percent in August from a month earlier, the EU statistics agency said Wednesday, suggesting the region's economy is recovering gradually.
Former Iowa slaughterhouse manager on trial in SD AP (October 13, 2009) SIOUX FALLS, S.D. (AP) - A former manager of an Iowa kosher slaughterhouse that saw a massive immigration raid is set to go to trial in South Dakota.
Iowa kosher slaughterhouse owner sees lean future AP (October 13, 2009) SIOUX FALLS, S.D. (AP) - The new owner of an Iowa kosher slaughterhouse that was the site of a massive immigration raid says he's a turnaround artist who will operate a leaner plant that avoids the mistakes of his predecessor.
J&J posts 1 percent profit rise despite sales drop AP (October 13, 2009) TRENTON, N.J. (AP) - Health care giant Johnson & Johnson on Tuesday reported a meager 1 percent increase in its third-quarter net income, as generic competition slashed sales of several of its top drugs and the recession hurt consumer product sales.
Intel stokes hopes for PC recovery AP (October 13, 2009) SAN FRANCISCO (AP) - Intel Corp. has been asserting for months that the personal computer business is rebounding from its deepest slump in nearly a decade. Its stock jumped late Tuesday on signs things are picking up faster than expected, despite a few lingering trouble spots.
Cisco to buy Starent Networks for $2.9B AP (October 13, 2009) SAN JOSE, Calif. (AP) - Betting on the growing popularity of data-hungry phones like the iPhone, Cisco Systems Inc. said Tuesday it had agreed to pay $2.9 billion for Starent Networks Corp., a maker of equipment for wireless carriers.
Ford, UAW reach tentative deal on contract AP (October 13, 2009) DETROIT (AP) - The United Auto Workers union says it has reached a tentative deal with Ford Motor Co. on contract concessions.
GM chief says Opel sale may come this week AP (October 13, 2009) SHANGHAI (AP) - General Motors could finalize the sale of its German auto unit Opel as early as this week, the U.S. automaker's CEO said Tuesday.
P&G's McDonald faces shareholders AP (October 13, 2009) CINCINNATI (AP) - The Procter & Gamble Co.'s new CEO will give shareholders a look at plans for growth at the consumer products company's annual meeting.
Survey: Most economists see recovery beginning AP (October 12, 2009) NEW YORK (AP) - More than 80 percent of economists believe the recession is over and an expansion has begun, but they expect the recovery will be slow as worries over unemployment and high federal debt persist.
General Dynamics unit gets $646.9M Army deal AP (October 12, 2009) WASHINGTON (AP) - A division of General Dynamics recently received a $646.9 million contract from the Army to provide 352 Stryker vehicles, the Pentagon said late Friday.
Philips profit boosts European markets AP (October 12, 2009) LONDON (AP) - European stock markets rose strongly Monday as investor sentiment was buoyed by better than expected third-quarter profits from Royal Philips Electronics NV at the start of a week when earnings statements around the world will be the main focus of attention.