Company's chief operating officer, Ian King, will become chief executive on Sept. 1, replacing Mike Turner, who announced his intention to retire in October.
Crude oil prices will likely rise to between $150 and $170 a barrel this summer, but probably not reach $200 a barrel, OPEC President Chakib Khelil was quoted as saying.
Automaker is shutting down production of the Jeep Liberty and Dodge Nitro for two months at its Toledo assembly plant.
St. Louis brewer's board is unanimously rejecting a Belgian-Brazilian brewer's takeover bid, saying the $46 billion offer undervalues the Budweiser maker.
Company that sold the flammable foam blamed for fueling a Rhode Island nightclub fire that killed 100 people has agreed to pay $6.3 million to settle lawsuits from survivors and victims' relatives.
Ex-Chrysler Chairman Lee Iacocca says the struggling automaker will survive its current woes, just as it did when he helped save it from bankruptcy in the early 1980s.
Union says it accepts that GM is determined to shutter its truck plant in Oshawa, Ont., in the fall of 2009 but the union again vowed to fight the closure despite the odds.
Belgian brewer filed a lawsuit to confirm that Anheuser-Busch shareholders can remove without cause the company’s board of directors, taking what could be the first steps toward a hostile takeover.
Westport Corporation will invest $3 million to open a 203,000-square-foot assembly plant in Roanoke, creating 60 jobs.
Polish lawmakers say they need more time for privatizing three shipyards to prevent massive layoffs in the sector.
Prices are soaring further into record territory, breaking past $140 a barrel after OPEC's president said prices could rise well above $150.
Plant in western Kentucky that builds truck parts is cutting 103 jobs as it eliminates its second shift because of lower demand for the vehicles.
Some Washington lawmakers are already talking about tax breaks and other incentives to encourage Boeing to build the replacement for the 737 in the state.
Brewer will quit selling caffeinated alcoholic drinks as part of a legal settlement, attorneys general for Idaho and 10 other states said.
Flow International, which makes industrial waterjet machines for cutting and cleaning, received a contract from European aerospace company Airbus.
Ball Corp., which makes metal and plastic packaging, said Thursday it will close its plastic packaging manufacturing plant in Brampton, Ontario.
Metal prices, driven up by increased demand in domestic and overseas markets combined with a shift in the scrap supply chain, has ignited a boom in the scrap business.
Poor nations welcome hazardous waste from abroad, such as old computers and banned pesticides, in a shortsighted bid to lift themselves out of poverty, a U.N. rights official said.
COO Gregory Mason says the plants and equipment have never realized their full potential, but Severstal will invest $250 million over five years to make sure they do.