The Justice Department says a Japanese auto parts maker has agreed to pay a $120 million fine as part of a plea agreement to settle a pair of price fixing schemes. The plea agreement and indictment filed in Toledo, Ohio, were finalized Tuesday by the U.S. Department of Justice.
Purdue Pharma said in a statement that the FDA accepted its application for Targiniq ER, an extended release tablet that combines oxycodone — the active ingredient in OxyContin — with the drug naloxone. The naloxone, which can reverse the effects of opioids, is intended to help make the medicine less likely to be abused.
Finance Minister Pierre Moscovici said Wednesday that the pension for Philippe Varin was "inappropriate," especially in light of recent layoffs, the company's financial troubles and falling sales during Varin's four years as chief executive.
A measure of the U.S. economy's health increased in October, suggesting consumers and businesses mostly shrugged off the 16-day partial government shutdown.The Conference Board says its index of leading indicators rose 0.2 percent in October to a reading of 97.5.
Businesses spent less last month on machinery, computers and most other items, lowering orders for U.S. long-lasting factory goods. The decline suggests companies may have been reluctant to invest during the 16-day partial government shutdown.
The number of Americans seeking unemployment benefits dropped 10,000 last week to a seasonally adjusted 316,000, a sign that workers are in less danger of being laid off. The Labor Department says the less volatile four-week average fell 7,500 to 331,750. Both the weekly jobless claims and the average have returned to pre-recession levels.
Beijing is waging a war against air pollution, one barbecue at a time. Authorities in the capital have destroyed more than 500 open-air barbecues "to cut PM2.5" — the tiny particulate matter in the air that can enter deep into the lungs.
Motorola will start selling a cheap smartphone in the U.S. more than a month ahead of schedule. The company says it was able to produce the Moto G phones faster than expected. The U.S. launch was initially planned for January. But it is going on sale Tuesday.
Hewlett-Packard posted net income of $1.4 billion for its fiscal fourth-quarter, as cost cuts stemming from its ongoing restructuring more than offset the effects of sluggish computer demand. The world's second-largest maker of PCs, considered a bellwether in the technology industry, also issued a strong profit prediction for the current quarter.
Honda Motor Co. on Tuesday started the construction of its second auto assembly plant in Brazil that is scheduled to open in 2015. Honda invested about 1 billion real (about $437 million) for the Sao Paulo plant to meet growing demand in Brazil, the fourth largest auto market in the world.
As car enthusiasts converge on the annual Guangzhou auto show, few have anything except a shiny new set of wheels in mind. But explosive growth that transformed China into the world's largest auto market is also giving life to a new industry here: used cars.
A judge has given a dose of cold water to Sriracha, ruling Tuesday that the factory that manufactures the trendy hot sauce must partially shut down after neighbors complained of the spicy smells it was producing.
U.S. consumers' confidence in the economy fell in November to the lowest level in seven months, dragged down by greater concerns about hiring and pay in the coming months.The Conference Board said Tuesday that its index of consumer confidence dropped to 70.4 from 72.4 in October.
Ford is recalling the Escape small SUV again, this time to fix oil and fuel leaks that could cause engine fires. The hot-selling SUV has been recalled seven times since it was redesigned and went on sale in the spring of 2012.
Anaheim, Calif.-based Fisker, which planned to build cars at a former General Motors plant in Delaware, filed for bankruptcy protection last week, ending a long, downward spiral that began after it received a $529 million loan commitment from the U.S. Department of Energy.
A team of ex-Nokia engineers is launching a smartphone based on the former world No. 1 cellphone maker's old software, hoping to grab a share of a highly competitive market. The Jolla handset's Sailfish operating platform is based on MeeGo software, which Nokia abandoned in 2011 when it switched over to using Microsoft Corp.'s Windows system.
Several toys with high lead levels or toys that could cause young children to choke were found at major retailers and discount stores in the last few months, the U.S. Public Interest Research Group said Tuesday. The consumer safety group analyzed 50 toys for its annual report. Violations were found in fewer than a dozen, including a Captain America toy shield and play jewelry.
The European Commission said in a statement Thursday that the companies — both of which are based in the U.S. — have agreed to dispose parts of their businesses producing and supplying cell cultures, "gene silencing" products and polymer-based magnetic beads.
In a warning letter posted online Monday, FDA regulators say that the Silicon Valley company has not shown that its tests are safe or effective despite "more than 14 face-to-face and teleconference meetings" and "hundreds of email exchanges."
Norway-based cancer drug maker Algeta ASA says it has received a preliminary takeover offer from Germany's Bayer AG that values the company at about $2.4 billion.Algeta said in a statement Tuesday that the offer is for 336 kroner ($55.11) per share; the company has nearly 44 million shares.