News
Officials Probe Corvette Headlamp Problem
May 10, 2013 8:44 am | CommentsU.S. auto safety regulators are investigating complaints that the low-beam headlights can go dark without warning on some Chevrolet Corvettes. The probe by the National Highway Traffic Safety Administration covers more than 103,000 Corvettes from the 2005 through 2007 model years.
Nations Agree To New Chemical Ban
May 10, 2013 8:42 am | CommentsU.N. officials and delegates say more than 120 nations agreed to tighter controls on several chemicals and hazardous waste, including a gradual ban on a flame retardant and some new export requirements for other substances. But they say an effort to rein in use of construction material Chrysotile asbestos and a powerful herbicide, Paraquat, fell short at a two-week summit of delegates to three main international treaties.
Post Buying Hearthside Food Business For $158M
May 10, 2013 8:37 am | CommentsCereal maker Post Holdings Inc. is buying the branded and private label cereal, granola and snacks business of Hearthside Food Solutions for $158 million, partly as a way to broaden its presence in the cereals category. Post's existing cereal brands include Honey Bunches of Oats, Post Raisin Bran and Grape-Nuts.
Van Maker Backed By DOE Loans Shuts Down
May 10, 2013 8:34 am | by Matthew Daly, Associated Press | CommentsA Michigan company that received a $50 million federal loan to make vans for the disabled has stopped production and laid off its 100 workers. Vehicle Production Group, or VPG, suspended operations in February after its finances dipped below a minimum level required as a condition of the federal loan.
Investors Challenge Dell Takeover Plan
May 10, 2013 8:08 am | by Tom Murphy, AP Business Writer | CommentsAn investment group led by Michael Dell is offering $13.65 per share in a deal that would take the company private. Southeastern and Icahn criticize that proposal in a scathing letter to Dell's board outlining their proposal. Icahn also has made a preliminary proposal to buy 58 percent of Dell stock for $15 per share.
Few Industrial Disasters Have Killed 1,000
May 10, 2013 8:01 am | CommentsThe 1,000th body has been pulled from the Bangladesh garment-factory building that collapsed last month. Very few other industrial accidents in world history have had such a high death toll. They include the meltdown at the Chernobyl nuclear plant and the lethal methyl isocyanate gas leaks from a pesticide plant in Bhopal, India.
Nissan Profit Up 46 Percent
May 10, 2013 7:50 am | by Yuri Kageyama, AP Business Writer | CommentsNissan's fiscal fourth quarter profit jumped 46 percent on stronger sales and a favorable exchange rate that offset declines in China over a bitter territorial dispute. Nissan Motor Co. reported Friday a January-March profit of 110 billion yen ($1.1 billion), up from 75.3 billion yen the same period the previous year.
UK Budget Airline To Test Ash Cloud Detector
May 10, 2013 7:47 am | by Sylvia Hui, ssociated Press | CommentsA U.K. budget airline will create an artificial volcanic ash cloud over Europe this summer to test ash detection technology. The experiment aims to avoid the kind of chaos that paralyzed air traffic during eruptions three years ago. The announcement was made by easyJet, which acquired a ton of ash collected in Iceland by scientists in the months after the 2010 eruptions for its test.
Ford Shareholders Reject Stock Proposal
May 10, 2013 7:41 am | CommentsFord Motor Co. shareholders are again rejecting a proposal to dilute the Ford family's control over the company.At its annual meeting in Wilmington Thursday, Ford said 67 percent of shareholders voted against the proposal to make each Ford share worth one vote. Thirty-three percent supported it.
State Pharmacy Boards Back More FDA Oversight
May 10, 2013 7:38 am | by Matthew Perrone, AP Health Writer | CommentsState pharmacy officials on Thursday threw their support behind a proposal giving the Food and Drug Administration authority over large compounding pharmacies, in an effort to head off more outbreaks tied to contaminated medications.
Obama To Open Middle-Class Jobs, Opportunity Tour
May 9, 2013 2:21 pm | by Darlene Superville, Associated Press | CommentsAiming to show he's still focused on creating jobs, President Barack Obama is beginning a series of quick trips around the country to resurrect ideas from his State of the Union address that became overshadowed by the intense debates over gun control, immigration and automatic spending cuts.
Incoming WTO Director Seeks 'Negotiating Pillar'
May 9, 2013 2:16 pm | by John Heilprin, Associated Press | CommentsThough it can serve as a forum for governments to negotiate trade agreements, the WTO is most often the place where they settle trade disputes according to international trade rules. Increasingly, nations have resorted to negotiating outside the WTO along regional and bilateral lines.
Senators Seek Ban On Renting Recalled Vehicles
May 9, 2013 2:11 pm | by Andrew Miga, Associated Press | CommentsA bipartisan group of senators wants to ban car rental companies from renting or selling vehicles to consumers that are under manufacturer recall until the defect is fixed. The senators say that while current law prohibits car dealerships from selling recalled vehicles to consumers, no law bans rental car companies from selling or renting them to unsuspecting consumers.
Mold Design & Tooling For Injection Molding
May 9, 2013 1:55 pm | by Kaysun Corporation | CommentsDesigning the mold and its various components (referred to as tooling) represents a highly technical and often complex process that requires high precision and scientific know-how to produce top-quality parts with tight dimensions. For example, the proper grade of steel must be selected so components that run together do not wear out prematurely.
IMS: U.S. Medicine Spending Shows Rare Dip In 2012
May 9, 2013 1:43 pm | CommentsA new report from the IMS Institute for Healthcare Informatics states the total spent was down 3.5 percent to $325.8 billion last year. That's partly because patients benefited from a surge of new, inexpensive generic versions of widely used drugs for chronic conditions, such as Lipitor for high cholesterol.
'Monkeemobile' Designer Dean Jeffries Dies
May 9, 2013 1:30 pm | CommentsA celebrated car customizer who painted James Dean's Porsche and made the "Monkeemobile" for "The Monkees" TV show has died. Dean Jeffries was 80. He created the "Black Beauty" for the 1960s show "The Green Hornet" and built the Monkeemobile in just 10 days. He also built movie vehicles, including a moon buggy for the James Bond film "Diamonds Are Forever."
Lawsuit: Merck Discriminates Against Women
May 9, 2013 1:25 pm | CommentsA Merck & Co. sales representative is suing the drugmaker for at least $100 million, saying Merck doesn't give women equal opportunities for advancement and punishes employees for taking maternity leave. Kelli Smith, who has worked at Merck since 2004, says in the lawsuit that the company's sales plans create incentives to discriminate against women.
Retailers Report Modest Gains For April
May 9, 2013 1:20 pm | by Anne D'Innocenzio, AP Retail Writer | CommentsAmericans spent briskly during the early spring months in the latest sign that they're encouraged by the economic recovery. Falling gas prices, a rallying stock market and gains in the job market all fueled Americans' shopping habits even as cold weather tempered their desire to buy spring fashions.
Tesla Model S Gets Consumer Reports' Top Score
May 9, 2013 1:18 pm | by Tom Krisher, AP Auto Writer | CommentsThe Tesla Motors Inc. Model S electric car has tied an older Lexus for the highest score ever recorded in Consumer Reports magazine's automotive testing. The Model S, which starts at $62,400 after a federal tax credit, scored 99 points on a scale of 100 in the magazine's battery of tests.
U.S. Wholesale Stockpiles Rise In March
May 9, 2013 1:15 pm | by Martin Crutsinger, AP Economics Writer | CommentsWholesale businesses stepped up their restocking of supplies in March, but their sales fell sharply. The Commerce Department said Thursday that stockpiles held by wholesalers rose 0.4 percent in March compared with February, when they had fallen 0.3 percent.
