President Lee Myung-bak warned Friday that the global economic slowdown is choking off his country's exports and told workers they must sacrifice to keep their jobs.
Automaker says it is eliminating the job of chief marketing officer, with Deborah Meyer stepping down effective immediately.
Crude prices up slightly after a sharp decline overnight as investors weighed the impact of the global economic slowdown on demand against oil producers' decision to slash output.
Chrysler and General Motors say they appreciate the $17.4 million loan program announced by President George W. Bush and that the deal will preserve many jobs.
Japanese economy will shrink this fiscal year and will manage only flat growth the following year, the government said Friday, underlining looming fears about a global recession.
Gov. Ted Strickland tells Ohio media outlets that lawmakers who rejected the bailout for U.S. automakers are mostly looking to settle old scores, putting American manufacturing at risk.
Final Dodge Durango is expected to roll off the assembly line Friday at Chrysler's Newark assembly plant, putting the remaining 1,100 employees out of work.
China wants to move weak, labor-intensive factories to the interior, which would turn the Guangdong province into the country's auto maker and its Silicon Valley.
World's largest maker of construction and mining equipment said it will lay off employees in Illinois and North Carolina as economic turmoil dampens demand for its products.
Standoff at a suitcase factory is the latest unrest arising from layoffs, poor working conditions and slashed wages in China, where thousands of companies have gone bust recently.
Telecommunications equipment maker agreed to sell its remaining 21-percent stake in defense contractor Thales SA to plane maker Dassault Aviation for $2.3 billion.
Takeover of Japanese rival Sanyo creates one of the world's biggest electronics companies, which Panasonic hopes will help it weather the toughest business conditions in a century.
President said anew that he is worried about 'putting good money after bad,' meaning taxpayer dollars shouldn't be used to prop up companies that can't survive the long term.
Maple Leaf Foods will have to pay out up to $23 million after the company was linked to contaminated meat products that caused a listeriosis outbreak linked to 20 deaths in Canada.
Ireland found much higher levels of cancer-causing dioxins in cattle than previously forecast, but insists the problem has been contained and poses no risk to beef-eaters.
Maker of Jimmy Dean sausages and Sara Lee breads said Thursday its chief financial officer will retire at the end of the fiscal year in June.
Workers at Spirit AeroSystems’ Wichita, Kan., plant, who have been working just three days a week since September, will resume five-day work schedules earlier than expected.
South Korea-based SK Chemicals and Eastman Chemical Co. are forming a joint venture to build a manufacturing plant that will produce a raw material used in cigarette filters.
Swedish lawmakers approved a $3.6 billion aid package Thursday to help prevent the country's auto industry from collapsing.
Oil prices hovered near 4½-year lows as persistent investor pessimism over global crude demand outweighed the news of OPEC's largest-ever production cut.