Chemical maker to slash about 11 percent of its total work force, close 20 plants and sell several businesses to reign in costs amid the economic recession.
Chip maker said Monday it will end up owning less of its factories than previously negotiated after they're spun off into a venture with the Persian Gulf state of Abu Dhabi.
Wagon PLC said it planned to file for a form of bankruptcy protection on Monday after a global slump in demand for autos crippled its car parts business.
Continental Airlines and Boeing will test the use of a special blend of half conventional fuel and half biofuel with ingredients derived from algae and jatropha plants.
U.S. auto industry bailout plan could include a Cabinet-level oversight board and a provision to withdraw the loan if overseers decide the companies are failing to overhaul themselves.
Sit-in by laid-off workers at a shuttered window factory in Chicago is becoming a cause for those who want action to avert economic pain.
Shares of U.S. automakers surged sharply as Congress appears to be leaning closer to throwing the companies a financial lifeline, which could force the CEOs to step down.
Conference Board’s Employment Trends Index indicates the economy has lost 1.9 million jobs and declines suggest job losses could very well surpass 3 million by mid 2009.
Drug developer Bristol-Myers Squibb Co. said Monday it expanded a diabetes drug partnership with AstraZeneca by adding development and sales in Japan to the deal.
South Korean chipmaker is looking to raise up to $690.6 million and is in no immediate danger, but its cash position could come under pressure if industry conditions do not improve.
Automaker will halt production at its sole Russian assembly plant for one month as the financial crisis dents consumers' demand for cars, a company official said.
Beijing considers proposals to boost exports, cut income taxes and inject government money into slumping Chinese stock markets amid signs an economic slowdown is worsening.
Crude prices bounced off four-year lows to trade above $43 as OPEC's president suggested it could surprise investors with a large production cut later this month.
Swedish steel maker will cut about 14 percent of its work force because of rapidly falling demand for steel, the company said Monday.
Chief Executive Alan Mulally says a bankruptcy filing by General Motors or Chrysler would drag Ford and industry suppliers into bankruptcy.
Mayors of two Indiana cities heavily dependent on manufacturing say auto bailout is needed to prevent widespread unemployment and major losses in their communities.
Automaker is considering cutting working hours at all its plants in Germany, widening plans to slow production as demand drops.
Christopher Dodd, chairman of the Senate Banking, Housing and Urban Affairs Committee, said Sunday that the head of General Motors, Rick Wagoner, 'has to move on.'
Office for National Statistics said prices at the factory gate -- also known as output prices -- fell by 0.7 percent in November due to sliding oil prices.
China's passenger car sales fell 10.3 percent in November from a year earlier as stalling economic growth sapped consumer confidence, state media reports said.