Pounded by a fierce financial crisis, the country is sinking deeper into economic despair, with problems likely to stretch well into next year.
Shares of General Motors soared in afternoon trading, reversing the morning's historic plummet, on news of a deal that could result in a financial bailout of the automaker industry.
Automaker has pulled an exec from Europe to run its North American factories in an effort to free the current manufacturing chief to focus on standardizing Ford’s global operations.
Following ‘tremendous’ cutbacks by its customers, Great Dane Trailers will lay off half the workers at the trailer maker's Terre Haute plant, the company said.
Prices briefly dipped below $50 a barrel as 16-year high U.S. unemployment figures and plummeting stock markets caused investors to price in lower crude demand.
Conference Board said its monthly forecast of economic activity declined 0.8 percent in October, worse than the 0.6 percent decrease expected by economists.
China has accelerated computer espionage attacks on the U.S. government, defense contractors and American businesses, a congressional advisory panel said.
Maker of labels, signs and safety devices said Thursday it plans to cut its global work force by about 10 percent due to difficult economic conditions.
With weekly jobless claims benefits at a 16-year high, White House said President Bush would quickly sign legislation pending in Congress to provide further benefits.
Plans to build an electric car manufacturing plant in Franklin, Ky., have been short-circuited by the pullout of a major investor.
French automaker said Thursday it plans to cut 2,700 jobs in response to the worsening economic crisis that has seen European car sales plummet.
New claims for unemployment benefits jumped last week to a 16-year high, the Labor Department said Thursday.
Plan to give troubled U.S. automakers $25 billion in government-backed loans has stalled in the Senate, leaving the fate of Detroit's once-venerable car companies hanging in the balance.
Head of Nissan Motor said he foresees a big push by automakers to bring pure-electric vehicles to market, predicting that 10 percent of all vehicles globally will be electric by 2020.
Chrysler and GM's displays were noticeably quiet while Asian and European companies unveiled new models that will likely chip away at the U.S. market share.
French-Romanian automaker temporarily halted production on Thursday after the global financial crisis led to a 30 percent drop in car sales.
Pharmaceutical company plans to close three plants in Spain, Belgium and Sweden and cut 1,400 jobs in Europe by 2013 to improve efficiency and expand investment in Asia.
Chinese officials warned that the country faces 'grim' employment outlook, with demand for workers falling and job seekers outnumbering new jobs by two-to-one.
Elimination of all temporary and part-time manufacturing workers will happen in the remaining two months of this year as the Japanese truck maker cuts output.
Swedish engineering firm announced a series of production cuts and over 1,000 layoffs, saying the impact of the global financial crisis has accelerated in the fourth quarter.