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Today in Manufacturing

Daily news and top headlines for manufacturing professionals

Fed: Economic Woes Will Persist Into Next Year

November 20, 2008 8:25 am | by Jeannine Aversa, AP Economics Writer | Comments

Pounded by a fierce financial crisis, the country is sinking deeper into economic despair, with problems likely to stretch well into next year.

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GM Shares Soar After Historic Low

November 20, 2008 8:15 am | Comments

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.

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Ford Realigns Manufacturing Executives

November 20, 2008 8:10 am | Comments

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.

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Great Dane Cutting 115 Jobs At Indiana Plant

November 20, 2008 8:00 am | Comments

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.

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Oil Dips Below $50 A Barrel

November 20, 2008 7:22 am | by Pablo Gorondi, Associated Press Writer | Comments

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.

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Economic Activity Falls In October

November 20, 2008 6:55 am | by Ellen Simon, AP Business Writer | Comments

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.

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U.S. Warns Chinese Espionage Rising

November 20, 2008 6:50 am | by Foster Klug, Associated Press Writer | Comments

China has accelerated computer espionage attacks on the U.S. government, defense contractors and American businesses, a congressional advisory panel said.

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Brady To Cut Over 700 Workers

November 20, 2008 6:25 am | Comments

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.

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Washington Working To Extend Jobless Benefits

November 20, 2008 6:22 am | by Deb Riechmann, Associated Press Writer | Comments

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.

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Investors Pull Out Of ZAP Electric Car Plant

November 20, 2008 6:19 am | Comments

Plans to build an electric car manufacturing plant in Franklin, Ky., have been short-circuited by the pullout of a major investor.

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Peugeot Citroen Cuts 2,700 Jobs

November 20, 2008 6:16 am | Comments

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.

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Jobless Claims Reach Highest Level Since 1992

November 20, 2008 5:25 am | by Christopher S. Rugaber, AP Economics Writer | Comments

New claims for unemployment benefits jumped last week to a 16-year high, the Labor Department said Thursday.

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Detroit Three Rescue Bill On Life Support

November 20, 2008 5:15 am | by Ken Thomas, Associated Press Writer | Comments

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.

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Ghosn: Automakers Will Push Electric Vehicle Trend

November 20, 2008 5:05 am | by Dan Strumpf, AP Auto Writer | Comments

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.

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GM, Chrysler Scale Back At LA Auto Show

November 20, 2008 4:55 am | by Dan Strumpf, AP Auto Writer | Comments

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.

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Carmaker Dacia Halts Production

November 20, 2008 4:55 am | Comments

French-Romanian automaker temporarily halted production on Thursday after the global financial crisis led to a 30 percent drop in car sales.

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AstraZeneca To Close Plants, Cut Jobs In Europe

November 20, 2008 4:50 am | Comments

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.

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China: Job Outlook 'Grim'

November 20, 2008 4:49 am | by Christopher Bodeen, Associated Press Writer | Comments

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.

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Isuzu Shedding 1,400 Contract Workers

November 20, 2008 4:45 am | Comments

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.

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Sandvik Slashes Jobs, Production

November 20, 2008 4:43 am | Comments

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.

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