U.S. Navy says it will inspect all 636 Hornet fighter jets from Boeing after discovering "fatigue cracks" on more than a dozen aircraft deployed overseas.
Carmakers in Europe are taking a beating from the financial crisis, announcing an alarming series of profit warnings and production stoppages this week.
Chairman and chief executive Jack Pelton warned employees that the difficult economy could create pressure on the aircraft company.
Company said Tom Flocco, president and chief executive of its Beam Global Spirits & Wine business, has resigned to pursue other interests.
As the yen surged to a 13-year high Friday against the dollar, Japanese manufacturers are concerned about shrinking consumer demand for flat-panel TVs, automobiles and digital cameras.
Company will spend $175 million on a steel rebar manufacturing plant in Amory, Miss., that is expected to bring 200 jobs to the area.
OPEC said it will slash output by 1.5 million barrels a day to stop tumbling crude prices, but the cost for a barrel of crude plummeted to prices last seen in June of 2007.
As the shaky U.S. economy speeds the industry’s out-of-control slide, more job cuts are likely if U.S. auto sales volume continues to decline into 2009.
Chief Executive said the company is reacting to the 'collapse' of the European auto market by cutting production to prevent a buildup of inventories.
Financial crisis could jeopardize the ability of Russia's top spacecraft-making company to build spaceships for the international space station, the company said.
Volkswagen said sales rose 3.9 percent through September as a slowdown in new car buying in western Europe was offset by gains in China, Brazil and eastern Europe.
Construction equipment maker said manufacturing production in its Gwinner and Bismarck plants will be suspended from Dec. 15 until Feb. 2, 2009.
Britain's economy shrank in the third quarter as the global credit squeeze took its toll, confirming that the country is on the brink of its first recession since 1991.
Iran and Venezuela on Thursday urged OPEC to quickly slash output and stem a steep slide in prices that has left crude at its cheapest in 15 months.
Aerial lift maker laid off more workers in the second round of job cuts in less than four months, citing it has been hurt by the global economic slowdown and near-freeze in the credit markets.
Scion brand tops the list of most reliable cars in Consumer Reports' annual vehicle reliability study, as Asian automakers continue to fill the magazine's top rankings.
Nation’s largest pork producer has completed the sale of its beef business to Brazilian beef giant JBS SA in a deal worth $565 million in cash.
Michigan lawmakers intend to urge Federal Reserve Chairman and Treasury Secretary to use their regulatory powers to loosen up credit to help finance car loans.
Telecom equipment company said it was cutting between 300 and 350 jobs, or about 3 percent of its total work force, to cut costs amid the bad economy.
Bankruptcy judge says Delphi Corp. can have more time to file and make changes to its plan to emerge from bankruptcy protection without the input of its creditors.