News
Canada Threatens Tariffs Against U.S. Products
June 10, 2013 8:10 am | CommentsCanada warned Friday that it may impose tariffs on everything from orange juice to bread if the United States doesn't change a meat-labeling policy that Canadian beef and pork industries say is costing them more than CA$1 billion (US$979 million) a year.
American Auto Industry About To Go On Hiring Spree
June 10, 2013 7:57 am | by Tom Krisher, AP Auto Writer | CommentsThe auto industry's stepped-up hiring will help sustain the nation's job growth and help fuel consumer spending. On Friday, the government said U.S. employers added 175,000 jobs in May, roughly the monthly average for the past year and a sign of the economy's resilience.
Stripped-Down Harley Rebounds From Recession
June 10, 2013 7:53 am | by M.L. Johnson, Associated Press | CommentsThe company made $624 million last year, the best annual profit since 2008. It also boosted profit by 30 percent in this year's first quarter, compared to the same period in 2012. With lower costs and more efficient production, analysts say Harley is in a good position to grow as the global economy improves.
Want More Time Off? Some Employers Let You Buy It
June 10, 2013 7:48 am | by Sam Hananel, Associated Press | CommentsA soon-to-be released survey by the Society for Human Resource Management found that 9 percent of employers allowed workers to cash out unused vacation time. Five percent let employees purchase additional vacation days through a payroll deduction.
Bangladesh: 7 Failed To Check Doomed Factories
June 10, 2013 7:45 am | by Farid Hossain, Associated Press | CommentsBangladesh has suspended seven inspectors it accuses of negligence for renewing the licenses of garment factories in a building that collapsed in April, killing more than 1,100 people, a top Labor Ministry official said Monday.
IEA: Energy Emissions Rose To Record High In 2012
June 10, 2013 7:43 am | by Karl Ritter, Associated Press | CommentsIn its annual World Energy Outlook report, the Paris-based IEA said top carbon polluter China saw the largest emissions growth last year, up 300 million tons, or 3.8 percent, from 2011. Still, the increase was among the lowest seen in a decade as China continues to invest in renewable energy and energy efficiency.
San Onofre Closure Will Slash Employment
June 7, 2013 2:23 pm | CommentsThe planned closure of San Onofre Nuclear Generating Station will involve drastic cuts in the power plant's workforce, which currently numbers 1,500. Plans announced Friday by operator Southern California Edison call for reducing the number of employees to 600 over the next few months.
PepsiCo Shoots Down Report Of SodaStream Talks
June 7, 2013 2:08 pm | CommentsPepsiCo is shooting down a report that the company is in talks to buy SodaStream, an Israeli company that makes at-home carbonation machines. PepsiCo Inc. spokesman Jeff Dahncke said the report in an Israeli newspaper is "completely and totally untrue."
NASA's Veteran Mars Rover Driving To New Spot
June 7, 2013 2:03 pm | CommentsNASA's Opportunity rover is still on the move after years on the surface of Mars. The space agency said Friday the six-wheel, solar-powered rover is driving to a new spot in Endeavour Crater after spending 20 months at a site brimming with evidence of water-altered rocks.
Royalty Pharma Raises Offer For Elan
June 7, 2013 1:58 pm | by Tom Murphy, AP Business Writer | CommentsShares of Elan Corp. PLC jumped Friday after Royalty Pharma once again raised its offer to buy the Irish drugmaker in an increasingly bitter takeover fight. Royalty said it will now pay $13 in cash for each Elan share, and it will give stockholders the right to receive up to an additional $2.50 per share in milestone-based payments.
GM To Lay Off 560 Workers To Retool Engine Plant
June 7, 2013 1:55 pm | CommentsGeneral Motors is laying off 560 workers while it retools an engine plant near Detroit to build a new motor. GM says layoffs at the Romulus, Mich., factory will start in August and run to late 2015. The company is rebuilding the inside of the factory to make a new, more efficient V-6 engine.
3G Shuffles CEOs On Completion Of Heinz Deal
June 7, 2013 1:53 pm | CommentsKetchup maker H.J. Heinz Co. began a new chapter on Friday. The company, which also makes baked beans, vinegar and Classico pasta sauce, said that it completed its acquisition by Warren Buffett's Berkshire Hathaway and 3G Capital, the Brazilian investment firm that also owns Burger King.
FDA Finds Fungus In Drugs From Tennessee Pharmacy
June 7, 2013 1:45 pm | by Matthew Perrone, AP Health Writer | CommentsFederal health officials say they have found bacteria and fungus in drug vials from a Tennessee specialty pharmacy that recalled all of its injectable medicines last month.The Food and Drug Administration said in an online posting Friday that it identified the growths in two unopened vials of a steroid injection distributed by the Main Street Family Pharmacy.
Exxon Mobil Seeks Dismissal Of Lawsuit Over Spill
June 7, 2013 10:58 am | CommentsAttorneys for Exxon Mobil Corp. and Exxon Pipeline Co. have filed a motion asking for dismissal of a lawsuit by Mayflower residents over a recent oil spill. ExxonMobil Pipeline's Pegasus pipeline ruptured March 29 and spilled thousands of barrels of oil in the town about 25 miles northwest of Little Rock and forced the evacuation of about 20 homes.
Calif. Utility Says It Will Retire Nuclear Plant
June 7, 2013 10:51 am | by Michael R. Blood, Associated Press Writer | CommentsThe troubled San Onofre nuclear power plant in Southern California is closing, after an epic 16-month battle over whether the twin reactors could be safely returned to service, officials announced Friday.Operator Southern California Edison said in a statement it will retire the twin reactors because uncertainty about the future of the plant.
Unemployment Rate Rises To 7.6 Pct.
June 7, 2013 8:45 am | by Christopher S. Rugaber, AP Economics Writer | CommentsU.S. employers added 175,000 jobs in May, steady hiring but below the more robust pace that took place during the fall and winter. The Labor Department says the unemployment rate rose to 7.6 percent from 7.5 percent in April. The increase occurred because more people began looking for work, a good sign.
TiVo Settles With Cisco, Motorola And Time Warner
June 7, 2013 8:19 am | CommentsTiVo says it's reached a deal to settle patent disputes with Cisco, Motorola and Time Warner Cable. Tivo will get an upfront lump-sum payment of $490 million from Google and Cisco. TiVo will also enter into patent licensing deals with Cisco, Google and Arris Group Inc.
GM CEO Says Dividend, Share Buyback Possible
June 7, 2013 8:18 am | by Tom Krisher, AP Auto Writer | CommentsGeneral Motors CEO Dan Akerson says the company's finances are sound enough to consider paying a dividend or even buying more of its stock from the U.S. government. The CEO, in comments after GM's annual meeting Thursday, also said the company first has to keep investing in new vehicles and equipment.
Arraignment Set In Kevlar Trade Secrets Case
June 7, 2013 8:15 am | CommentsKolon Industries will be arraigned Friday morning in U.S. District Court in Richmond. Kolon is charged in a six-count federal indictment with theft of trade secrets, conspiracy to convert trade secrets and obstruction of justice. Five Kolon employees also face conspiracy and obstruction charges.
Safety At Deadly China Plant 'Extremely Chaotic'
June 7, 2013 8:14 am | by Christopher Bodeen, Associated Press | CommentsSafety exits were blocked at the Jilin Baoyuanfeng Poultry Co. plant and managers neglected to hold required safety drills or worker education, State Administration of Work Safety head Yang Dongliang said in a statement posted Friday on the administration's website, confirming workers' accounts.
