Exports plunged a record 26.7 percent in November, highlighting the drop in global consumer demand for automobiles, electronics parts and other Japanese products.
Indian auto giant has been spending money on its Jaguar Land Rover subsidiary and will continue to do so as needed, the company said after media reported Tata had a cash flow crisis.
Automaker’s 1,080 hourly workers at a sport utility plant in Moraine, Ohio, will soon be out of a job when the plant closes on Dec. 23.
Mining and construction equipment maker will cut executive compensation by up to 50 percent next year because of weakening demand triggered by the global economic slowdown.
China has asked the World Trade Organization to investigate whether the United States is illegally taxing Chinese goods such as steel pipes and off-road tires.
General Motors CEO says automaker has significant work ahead after receiving a government bailout, but he is confident GM will work with stakeholders to make the company viable.
After tumbling Thursday, stock prices rallied as the government pledged to lend as much as $17.4 billion to U.S. automakers, staving off possible bankruptcies.
Citing danger to the national economy, Bush administration offered $17.4 billion in emergency loans in exchange for concessions from the deeply troubled carmakers and their workers.
Treasury Secretary said Congress must release the rest of the $700 billion rescue fund because the first half has been allocated, and the remainder will 'support financial market stability'.
Serbia subsidiary of Pittsburgh-based U.S. Steel Corp. will substantially reduce production early next year due to the global economic crisis, a company official said Friday.
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.