News
Company Recalls Weight Loss Supplements
June 17, 2013 12:12 pm | CommentsFlorida Dolphin Intertrade Corp. announced Friday that these products have been found to contain undeclared Sibutramine, which was a previously approved controlled substance for the treatment of obesity. It was removed from the U.S. market in October 2010 for safety reasons.
Court: Pay To Delay' Generic Drugs Can Be Illegal
June 17, 2013 11:38 am | by Jesse J. Holland, Associated Press | CommentsThe Supreme Court ruled Monday that deals between pharmaceutical corporations and their generic drug competitors, which government officials say keep cheaper forms of medicine off the market, can be sometimes be illegal and therefore challenged by federal officials in court.
Chinese Supercomputer Named World's Fastest
June 17, 2013 9:58 am | CommentsThe semiannual TOP500 official listing of the world's fastest supercomputers released Monday says the Tianhe-2 developed by the National University of Defense Technology in central China's Changsha city is capable of sustained computing of 33.86 petaflops per second. That's the equivalent of 33,860 trillion calculations per second.
GE Aviation Plans To Open New Plant In NC
June 17, 2013 9:47 am | CommentsA company that specializes in jet engines and aircraft system production plans to break ground this year on a parts factory near Asheville. GE Aviation's new facility is being built next to an existing GE machining plant. The company says the new plant will produce engine components made of advanced ceramic matrix composite materials.
ABB Names Ulrich Spiesshofer As Next CEO
June 17, 2013 9:05 am | by ABB | CommentsThe Board of ABB has unanimously appointed Ulrich Spiesshofer, the head of its Discrete Automation and Motion (DM) division, as Chief Executive Officer. He will succeed Joe Hogan in this role in an orderly transition on September 15, 2013. He has led a doubling of the division’s revenues by organic and inorganic means, and the integration of Baldor – ABB’s largest ever acquisition.
Google Begins Launching Internet-Beaming Balloons
June 17, 2013 8:39 am | by Martha Mendoza and Nick Perry, Associated Press | CommentsEighteen months in the works, the top-secret project was announced Saturday in New Zealand, where up to 50 volunteer households are already beginning to receive the Internet briefly on their home computers via translucent helium balloons that sail by on the wind 12 miles above Earth.
Chrysler Freezes Some Pension Plans
June 17, 2013 8:36 am | by Sarah Skidmore, AP Business Writer | CommentsU.S. companies in general have moved away from traditional, or "defined benefit," pensions due to the cost. General Motors made a similar move last year when it froze traditional pension benefits for 19,000 salaried workers hired before 2001. Such pensions guarantee a specific payment to retirees.
Police: 1 Dead, 7 Hurt In 2nd La. Plant Blast
June 17, 2013 8:22 am | CommentsState Police Trooper Jared Sandifer said Saturday officials from the Occupational Safety and Health Administration were coming to the CF Industries facility as soon as the site was safe. Sandifer said the state police's hazardous materials unit was at the plant overnight.
Elan Shareholders Vote Down 3 Deals
June 17, 2013 8:16 am | CommentsShareholders of Irish drugmaker Elan Corp. PLC have potentially ended a takeover bid from Royalty Pharma by voting in favor of an Elan share buyback plan. The Dublin-based company's shareholders also rejected at a Monday meeting three separate deals that the Elan board has pushed instead of the Royalty takeover bid.
Pa. Company Recalls 165,000 Baby Recliners
June 17, 2013 8:15 am | CommentsBaby Matters LLC of Berwyn, Pa., announced the recall of its Nap Nanny and Nap Nanny Chill infant recliners as part of a settlement with the Consumer Product Safety Commission. Since 2009, the commission said it received at least 92 incident reports involving the products.
To Ease Shortage Of Organs, Grow Them In A Lab?
June 17, 2013 8:13 am | by Malcolm Ritter, AP Science Writer | CommentsGrowing lungs and other organs for transplant is still in the future, but scientists are working toward that goal. In North Carolina, a 3-D printer builds prototype kidneys. In several labs, scientists study how to build on the internal scaffolding of hearts, lungs, livers and kidneys of people and pigs to make custom-made implants.
Starboard: Smithfield Sale Undervalues Company
June 17, 2013 8:03 am | CommentsOne of Smithfield Foods' largest shareholders says a $4.72 billion takeover bid from China's largest meat producer falls short of what the company would be worth if sold off piece by piece. New York-based investment firm Starboard Value LP estimated the pork producer's value at $9 billion to $10.8 billion.
Long-Haul Jets Get Boost At Paris Air Show
June 17, 2013 8:00 am | by Lori Hinnant, Associated Press | CommentsThe global aviation event at Le Bourget airfield north of Paris is once again showcasing the rivalry between U.S.-based Boeing and French-based Airbus. After several years of success for their smaller models, the world's leading plane makers are hoping this year generates orders for the bigger, more expensive long-haul jets.
China Announces New Measures To Curb Air Pollution
June 17, 2013 7:54 am | by Louise Watt, Associated Press | CommentsChina's growing middle class has become increasingly fed up with air, water and soil pollution that has resulted from development-at-all costs policies. Members of the public have virtually no say on industrial projects, and often protest against factories or petrochemical plants they fear could affect their health.
GM Recalling SUVs For Fire Risk
June 17, 2013 7:41 am | CommentsGeneral Motors is recalling more than 193,652 SUVs from the 2006 and 2007 model years because a circuit board in the driver's door could short and cause a fire. The vehicles involved are the Chevrolet Trailblazer, GMC Envoy, Buick Rainier, Saab 9-7x and Isuzu Ascender from the 2006 and 2007 model years.
Europe Seeks Ways To Ease Youth Unemployment
June 14, 2013 9:33 am | CommentsEconomic and labor ministers from France, Germany, Italy and Spain are meeting in Rome to find a way to reduce record youth unemployment. Italian Premier Enrico Letta has made finding jobs for the young one of the battle cries of his new administration. About 40 percent of Italians aged 15-24 and active in the job hunt are unemployed.
Boat Maker Expanding With New Ind. Factory
June 14, 2013 9:29 am | CommentsA company making high-end pontoon boats is moving to a new location in Fort Wayne with plans to double its workforce over the next couple years. State and local officials joined Brunswick Corp. executives in a ceremony Thursday at its new factory on the city's west side at the site of a closed restaurant oven plant.
Factory Output Barely Rises In May
June 14, 2013 9:22 am | by Martin Crutsinger, AP Economics Writer | CommentsU.S. factories barely increased their output in May after two months of declines, a sign that manufacturing is providing little support for the economy. The Federal Reserve says manufacturing production increased just 0.1 percent in May from April. Output fell 0.4 percent in April and 0.3 percent in March.
Record $11M Fine For Illegal California Gold Mine
June 14, 2013 9:12 am | by Don Thompson, Associated Press | CommentsRegulators say the miners have continued to scrape valuable ore from a ridge about 45 miles east of the state capital even though two of the operators also face criminal charges in El Dorado County. Joseph Hardesty and Rick Churches have another court appearance set for Friday.
U.S. Wholesale Prices Rise 0.5 Percent In May
June 14, 2013 8:57 am | by Christopher S. Rugaber, AP Economics Writer | CommentsA rise in food and gas costs drove a measure of wholesale prices up sharply in May. But outside those volatile categories, inflation was mild.The Labor Department said Friday that the producer price index rose 0.5 percent in May from April.
