J.M. Smucker 2nd-quarter profit more than doubles AP (November 20, 2009) ORRVILLE, Ohio (AP) - J.M. Smucker Co.'s acquisition of Folgers Coffee Co. continues to pay off for the jam maker, helping to more than double its fiscal second-quarter profit, as consumers continue to turn to the company's well-known brands and eat at home more during the recession.
Sony hopes online service will build brand loyalty AP (November 20, 2009) TOKYO (AP) - Sony's new online service connecting the whole range of its gadgets to downloadable content like movies and games should help build brand loyalty, a top executive said Friday.
Volkswagen board moves closer to Porsche merger AP (November 20, 2009) FRANKFURT (AP) - German carmaker Volkswagen AG said Friday its supervisory board had approved certain agreement contracts for the planned merger with German sportscar builder Porsche, taking the companies one step closer to completing the deal.
GM to release plan for European units in December AP (November 20, 2009) FRANKFURT (AP) - General Motors Co. said it expects to release a full restructuring plan for its Opel and Vauxhall operations in mid December, but did not specify the amount of cuts to capacity and jobs it would seek.
Ahead of the Bell: Dell shares fall on weak 3Q AP (November 20, 2009) PHILADELPHIA (AP) - Shares of Dell Inc. fell Friday after it reported weaker-than-expected revenue and profit for the third quarter as the computer maker missed out on a fledgling rebound in technology spending.
Infineon 4Q net income rises to $21 million AP (November 19, 2009) FRANKFURT (AP) - German chipmaker Infineon Technologies AG said Thursday its fourth quarter net income rose sharply from a large loss a year ago as the company saw cost reductions help its results.
Tyson Foods names Donnie Smith as CEO AP (November 19, 2009) SPRINGDALE, Ark. (AP) - Tyson Foods Inc. promoted Donnie Smith to president and CEO on Thursday. He takes over leadership of the world's largest meat producer from interim President and CEO Leland Tollett.
American Superconductor sees bigger profit in '10 AP (November 19, 2009) DEVENS, Mass. (AP) - American Superconductor Corp. reaffirmed its full-year outlook Thursday and said it expects its profit to double next fiscal year.
Recovery in developed economies gathering pace AP (November 19, 2009) PARIS (AP) - Recovery in developed economies will accelerate next year due to "substantial improvements" in financial markets and fast-growing Asian countries, but is likely to remain fragile, the Organization for Economic Cooperation and Development said Thursday as it doubled its 2010 growth forecast.
Sony chief executive outlines turnaround plan AP (November 19, 2009) TOKYO (AP) - Sony said it aims to be profitable in gaming and flat-panel TVs by the fiscal year ending March 2011 as it slashes costs to turn around money-losing businesses.
Ahead of the Bell: Leading economic indicators AP (November 19, 2009) NEW YORK (AP) - Analysts expect a private forecast of U.S. economic activity rose for the seventh straight month in October, a sign the recovery will continue next year although probably at a plodding pace.
SABMiller H1 net profit down 32 percent AP (November 19, 2009) LONDON (AP) - SABMiller PLC, the world's second-largest brewer, on Thursday reported a 32 percent drop in net profit as revenues were hit hard by unfavorable currency movements and lager volumes declined.
US recovery seen outpacing Europe in 2010 AP (November 19, 2009) PARIS (AP) - The world's rich and developed economies will grow faster next year, but recovery will remain modest, with the U.S. and Japan outpacing Europe, a Paris-based watchdog said Thursday as it raised its forecasts.
SPIN METER: Feds buy green cars, auction rejects AP (November 18, 2009) (AP) - If you missed out on Washington's cash incentive program to trade in your old clunker, Uncle Sam still has a deal for you: The government will sell you rejects from its own fleet, even as it makes dealers scrap all those old cars that were collected from the public.
California targets TVs to lower electricity demand AP (November 18, 2009) SACRAMENTO, Calif. (AP) - The most power-hungry television sets could soon be banned from store shelves in California as state energy regulators on Wednesday consider a first-in-the nation mandate intended to lower electricity demand.
Ford, Subaru, VW win insurance industry picks AP (November 18, 2009) WASHINGTON (AP) - Ford, Subaru and Volkswagen lead the insurance industry's annual list of the safest new vehicles, according to a closely watched assessment used by car companies to lure safety-conscious consumers to showrooms.
Colo. company starts work on biofuel facility AP (November 18, 2009) DENVER (AP) - A Colorado company that has developed a process to convert wood to fuel is starting construction of what will eventually be a commercial-scale production plant.
Investigators release video of Utah refinery blast AP (November 18, 2009) WOODS CROSS, Utah (AP) - Surveillance camera video shows a 100-foot fireball ripping through a Utah refinery during a gas explosion that knocked a nearby home off its foundation earlier this month.
Hershey, Ferrero confirm interest in Cadbury AP (November 18, 2009) LONDON (AP) - Chocolate makers The Hershey Co. and Ferrero International SA say they are considering a possible offer for Cadbury PLC, which is already the target of a hostile bid by Kraft Foods Inc.
Panera Bread board OK's share buyback program AP (November 18, 2009) RICHMOND HEIGHTS, Mo. (AP) - Panera Bread Co. said Wednesday that its board approved a three-year share buyback program of up to $600 million.
Ahead of the Bell: RIM downgraded on competition AP (November 18, 2009) NEW YORK (AP) - BMO Capital Markets on Wednesday downgraded Research in Motion Ltd., saying the BlackBerry maker faces rising competition and a consumer shift toward cheaper phones.
Canadian Solar 3Q more than doubles, shares jump AP (November 17, 2009) NEW YORK (AP) - Canadian Solar Inc. on Tuesday said its third-quarter profit more than doubled on a hefty foreign currency exchange gain, boosting shares in premarket trading. The solar products maker also forecast a surge in 2010 shipments, as it expects demand to rebound.
Geithner: must rebalance global economic growth AP (November 17, 2009) WASHINGTON (AP) - Treasury Secretary Timothy Geithner said Tuesday the global economy is moving toward a recovery but countries can't rely on U.S. consumers to serve as the engine of worldwide growth.
Ahead of the Bell: Palm shares rise AP (November 17, 2009) NEW YORK (AP) - Shares of Palm Inc. rose ahead of regular trading Tuesday after Kaufman Bros. said worries about competition for the company's "smart" phones are overdone.
Fatal ammonia release at CF terminal kills driver AP (November 17, 2009) NEW YORK (AP) - CF Industries Holdings Inc. said a fatal release of anhydrous ammonia at its Pine Bend, Minn., terminal killed one truck driver and injured another.
Ahead of the Bell: Industrial production AP (November 17, 2009) WASHINGTON (AP) - Industrial production probably rose in October for the fourth straight month amid the early stages of a broad economic recovery.
Applied Materials offers to buy Semitool for $364M AP (November 17, 2009) SANTA CLARA, Calif. (AP) - Applied Materials Inc. said Tuesday it offered to buy Semitool Inc. for $364 million in cash, a move the company says will broaden its portfolio of chip manufacturing equipment.
Industrial output rises less than expected in Oct. AP (November 17, 2009) WASHINGTON (AP) - Industrial production edged up 0.1 percent in October, a smaller-than-expected increase that signals a bumpy recovery ahead.
Dubai Airshow: Boeing wins first orders for 737s AP (November 17, 2009) DUBAI, United Arab Emirates (AP) - Boeing scored its first aircraft orders at the Dubai Airshow on Tuesday, getting requests for a total of 11 737-800 jetliners from two Algerian airlines.
Ahead of the Bell: Pacific Sunwear AP (November 17, 2009) NEW YORK (AP) - Slumping sales expectations dragged down shares of surf- and skatewear retailer Pacific Sunwear of California Inc. in premarket trading on Tuesday.
Ahead of the Bell: Producer Price Index AP (November 17, 2009) WASHINGTON (AP) - Wholesale prices likely rose last month as oil prices jumped, but the increase probably won't raise fears of inflation as other costs remain stable.
Mass. residents file lawsuit over Danvers blast AP (November 17, 2009) DANVERS, Mass. (AP) - Two Massachusetts residents are suing a company that supplied chemicals they say were involved in huge explosion that damaged more than 270 homes and businesses in 2006.
TRW Automotive to offer $225M in senior notes AP (November 16, 2009) LIVONIA, Mich. (AP) - Car parts maker TRW Automotive Holdings Corp. said Monday that subsidiary TRW Automotive Inc. will offer $225 million in senior notes due 2015.
Japan 3Q GDP surprises with 4.8 percent growth AP (November 16, 2009) TOKYO (AP) - Japan's economy flexed more muscle than expected in the third quarter, as rekindled demand at home and abroad fueled its largest expansion in more than two years.
Airbus parent EADS reports Q3 loss on weak dollar AP (November 16, 2009) PARIS (AP) - EADS, the parent company of plane maker Airbus, on Monday said it lost euro87 million ($130 million) in the third quarter, due partly to the weak dollar, and warned that troubled aircraft programs could further weigh on earnings in the fourth quarter.
Intel raising its dividend 12.5 percent AP (November 16, 2009) SANTA CLARA, Calif. (AP) - Intel Corp., the world's biggest chip company, says it will raise its dividend by 12.5 percent starting next year.
Group urges gov't to invest in electric cars AP (November 16, 2009) WASHINGTON (AP) - A group of automakers, utilities and battery makers is urging the federal government to make a major investment in electric transportation.
TTM Technologies to buy Meadville assets for $521M AP (November 16, 2009) SANTA ANA, Calif. (AP) - TTM Technologies Inc. said Monday it has agreed to buy the printed circuit board business of Meadville Holdings Ltd. for $521 million in cash and stock.
GM reports $1.2B loss, says it shows progress AP (November 16, 2009) DETROIT (AP) - General Motors Co. says it lost $1.2 billion from the time it left bankruptcy protection through Sept. 30, far better than it has reported in previous quarters and a sign that the auto giant is starting to turn around its business.
Ahead of the Bell: Business Inventories AP (November 16, 2009) WASHINGTON (AP) - U.S. businesses likely slashed inventories for a 14th consecutive month in September, although sales have been rising.
Henderson: GM to begin repaying aid by year-end AP (November 16, 2009) WASHINGTON (AP) - General Motors Co. will begin paying back $6.7 billion in U.S. government loans by the end of 2009 and could pay off that full amount as early as 2010, five years ahead of schedule, CEO Fritz Henderson said Monday.
Businesses cut inventories for 13th straight month AP (November 16, 2009) WASHINGTON (AP) - Businesses slashed inventories for a 13th consecutive month in September although the pace of reductions slowed from the previous month.
RF Micro Devices buys back $197 million in notes AP (November 16, 2009) GREENSBORO, N.C. (AP) - Chip maker RF Micro Devices Inc. said Monday it has finished restructuring its debt, buying back $197 million in notes coming due next year. It also boosted its cash flow forecast.
Airbus military transporter cleared for testing AP (November 13, 2009) BRUSSELS (AP) - The long-delayed prototype of Airbus' first military transport plane has been moved from the factory for final ground tests before its maiden flight next month, a spokeswoman said Friday.
Navistar gets $48.6 million Army order for trucks AP (November 13, 2009) WASHINGTON (AP) - Navistar International Corp. recently received a $48.6 million contract from the Army for 181 recovery trucks, the Pentagon said late Thursday.
Ford analyst sees small car segment growing AP (November 13, 2009) DETROIT (AP) - Ford Motor Co.'s top sales analyst says demand for small cars will keep growing and become the biggest segment of the U.S. market by 2013.
GM offers moves to soon-to-be idled UAW workers AP (November 13, 2009) CHATTANOOGA, Tenn. (AP) - General Motors has offered union workers at the automaker's soon-to-be idled Spring Hill assembly plant 840 jobs at Lansing Delta Township, Mich., where GM is relocating production of the Chevrolet Traverse.
Goodyear Tire & Rubber shares rise after upgrade AP (November 13, 2009) NEW YORK (AP) - Shares of Goodyear Tire & Rubber Co. rose Friday after an analyst upgraded the stock based on a sharp decline in the stock's value.
Koppers Holdings to buy back notes, offer new ones AP (November 13, 2009) PITTSBURGH (AP) - Koppers Holdings Inc., which sells carbon pitch to steel and aluminum producers and crossties to railroads, plans to buy back senior notes due 2014 and offer new ones due 2019.
Boeing gets $10.8M Navy pact AP (November 13, 2009) WASHINGTON (AP) - Boeing Co.'s McDonnell Douglas received a $10.8 million contract boost from the Navy to provide services for the F/A-18 aircraft for seven foreign governments, the Pentagon said late Thursday.
Intel names Douglas Melamed as top lawyer AP (November 13, 2009) SANTA CLARA, Calif. (AP) - Intel Corp., which is the world's largest maker of microprocessors, said Friday that it named Douglas Melamed as its top lawyer.
Wal-Mart offers clothes vendors new payment option AP (November 13, 2009) SAN FRANCISCO (AP) - Wal-Mart Stores Inc., the world's biggest retailer, is offering its clothing vendors a faster way to get paid.
Report: Motorola looking at selling unit AP (November 12, 2009) NEW YORK (AP) - Motorola Inc. is seeking to sell its largest division, which makes equipment for cable and wireless companies, according to a report Wednesday.
Intel to pay AMD $1.25B in legal settlment AP (November 12, 2009) SUNNYVALE, Calif. (AP) - Intel says it is paying AMD, its largest rival in the market for computer processors, $1.25 billion to settle all antitrust and patent suits.
Higher oil prices seen threatening global recovery AP (November 12, 2009) (AP) - Rising oil prices could imperil a modest increase in crude demand and the recovery of the global economy, the International Energy Agency said Thursday as it raised its outlook for oil demand this year.
APEC ministers plot ways to sustain recovery AP (November 12, 2009) SINGAPORE (AP) - Asia-Pacific nations pledged Thursday to embrace more flexible exchange rates and stable growth strategies as economies start to scale back their stimulus spending after the global downturn.
AB InBev makes 3Q profit, but revenue down 10 pct. AP (November 12, 2009) BRUSSELS (AP) - The world's largest brewer Anheuser-Busch InBev SA said Thursday it made a $1.546 billion profit in the third quarter but that revenue fell 10 percent from last year, when the company was created in a merger, as beer sales shrank.
Eurozone industrial output up modest 0.3 percent AP (November 12, 2009) LONDON (AP) - Industrial production in the 16 countries that use the euro increased a modest 0.3 percent in September from the month before, reinforcing expectations that growth figures on Friday will show the recession in the single currency over.
Chemical BPA in workers linked to sex problems AP (November 11, 2009) NEW YORK (AP) - Male factory workers in China who got very high doses of a chemical that's been widely used in hard plastic bottles had high rates of sexual problems, researchers reported Wednesday.
K-Swiss board authorizes $70 million stock buyback AP (November 11, 2009) WESTLAKE VILLAGE, Calif. (AP) - Athletic shoe and apparel company K-Swiss Inc. on Wednesday said its board authorized a new program to buy back up to $70 million in stock.
Auto parts supplier Lear issues 2009 sales outlook AP (November 11, 2009) SOUTHFIELD, Mich. (AP) - Auto parts supplier Lear Corp., which emerged from bankruptcy protection two days ago, said Wednesday it expects sales this year will total $9.5 billion, well below last year's results.
Emirates mulls more Airbus A380s despite delays AP (November 11, 2009) DUBAI, United Arab Emirates (AP) - Emirates airline, the biggest buyer of the "superjumbo" Airbus A380, said Wednesday it is considering increasing its order for the double-decker plane despite delays on existing orders.
China industrial output,retail sales up in October AP (November 11, 2009) BEIJING (AP) - The slump in China's exports eased last month as industrial output and retail sales rose sharply, the government said Wednesday, showing that recovery in the world's third-largest economy was firmly on track.
World Bank warns unemployment threatens US economy AP (November 11, 2009) SINGAPORE (AP) - Stubbornly high joblessness threatens to trigger loan defaults and drag on consumption next year, hobbling a U.S. economy struggling to rebound from recession, World Bank President Robert Zoellick said Wednesday.
Treasury: China must boost domestic demand AP (November 10, 2009) WASHINGTON (AP) - China must continue to work to boost domestic demand to avoid global imbalances in the flows of trade and investments between nations, a senior U.S. Treasury official said Tuesday.
SMIC CEO resigns as chip maker faces $200M penalty AP (November 10, 2009) NEW YORK (AP) - The CEO of Semiconductor Manufacturing International Corp. is stepping down after the company agreed to pay $200 million to settle a legal dispute with rival Taiwan Semiconductor Manufacturing Co.
Fossil 3Q profit falls, but co. raises guidance AP (November 10, 2009) RICHARDSON, Texas (AP) - Watch maker Fossil Inc. said Tuesday its third-quarter profit fell but sales improved at company-owned stores.
Merkel presses GM for Opel concept AP (November 10, 2009) BERLIN (AP) - German Chancellor Angela Merkel pressed General Motors Co. on Tuesday to present a "reliable concept" for the future of its European unit Opel, adding that GM should produce most of the funding.
Investigator: Utah explosion caused by burst pipe AP (November 09, 2009) WOODS CROSS, Utah (AP) - A refinery explosion that severely damaged 10 homes this week was caused by a burst pipe that sprayed hydrogen gas onto a nearby heater, the U.S. Chemical Safety Board's lead investigator said.
German exports up 3.8 percent in September AP (November 09, 2009) FRANKFURT (AP) - German exports rose 3.8 percent on the month in September, official data showed Monday, a performance that beat economists' expectations and underlined an improving outlook for Europe's biggest economy.
Cadbury rejects $16.4B hostile bid from Kraft AP (November 09, 2009) LONDON (AP) - British candy maker Cadbury PLC has rejected a hostile 9.8 billion pound ($16.4 billion) hostile takeover bid from Kraft Foods Inc.
BMW October sales up 2 pct; Audi up 0.4 pct AP (November 09, 2009) FRANKFURT (AP) - German carmakers BMW AG and Audi AG said Monday their October sales improved as the global downturn showed signs of waning and demand for luxury cars improved.
Nokia to recall 14 million chargers AP (November 09, 2009) HELSINKI (AP) - Nokia Corp. announced Monday that some 14 million mobile phone chargers could be dangerous for users and said it will replace them free of charge.
China October auto sales up 72 percent on stimulus AP (November 09, 2009) BEIJING (AP) - Powered by tax cuts and stimulus spending, China's October auto sales soared 72 percent from a year earlier, outpacing U.S. sales for another month, according to data reported Monday.
Puma Q3 net income falls 24 percent AP (November 09, 2009) FRANKFURT (AP) - German sportswear company Puma AG said Monday net income fell 24 percent in the third quarter due to a drop in sales, especially for footwear and in its American markets.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
'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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.