Chief Executive Bob Nardelli said a steep decline in U.S. auto sales has created an environment for industry consolidation.
Michigan Sen. Carl Levin said Thursday he may seek an additional $25 billion in loans before the end of the year, citing deteriorating economic conditions for Detroit's car makers.
Defense Undersecretary John Young said officials decided to dump the multi-billion dollar reconnaissance helicopter program, which has been over-budget and behind schedule.
Crude oil briefly plunged to less than half its July record high after the government reported massive increases in U.S. crude and gasoline supplies.
Mexico's largest brewer filed a notice of arbitration against part owner, Anheuser-Busch, saying the pending sale to InBev violates their investment agreement.
Automaker to lay off 1,600 workers at three factories in the coming months as it keeps working to control its inventory amid a growing U.S. sales slump.
Stock prices fell globally, credit markets remained tight and oil prices declined to a 14-month low as fears of recession trumped fears of inflation.
Maker of test equipment for semiconductor manufacturers said Thursday it agreed to buy Zygo Corp. in an all-stock deal worth about $173.6 million.
Environmental Protection Agency is setting a new health standard for lead to slash the amount of the toxic metal in the nation's air by 90 percent.
Engineering and electronics products maker said Thursday it bought a marine sensor manufacturer based in the United Kingdom for an undisclosed sum.
Wang Yung-ching, a businessman who built his Formosa Plastics Group into Taiwan's biggest and most profitable manufacturing conglomerate, has died at 91.
Organization of the Petroleum Exporting Countries says it is moving up the date for an extraordinary meeting initially scheduled for mid-November to October 24.
Canadian manufacturing sector is getting weaker and a prolonged slump in the U.S. threatens its industrial economy, says a TD Bank report released Thursday.
Manufacturers will face challenges as they try to fend off prolonged damage from the economic crisis, according to the Manufacturers Alliance/MAPI.
State's top court has upheld convictions of former Tyco International CEO and CFO sentenced to prison for fraud and larceny for taking more than $100 million in bonuses.
Automaker is partnering with 10 states to promote 85 percent ethanol fuel and boost the accessibility by ensuring an adequate supply and more E-85 pumps at retailers.
Spirit AeroSystems told its 10,500 employees that the ongoing machinists strike at Boeing Co. may force it to look at a shutdown and temporary layoffs.
Citing global financial ‘uncertainty’ which threatens to push Europe's largest economy into a recession, Germany slashed a full percentage point off its economic growth forecast for 2009.
Increase is the largest since a 7.4 percent jump in 1982 and is more than double the rise that retirees got in their monthly checks starting in January of this year.
New claims for jobless benefits dropped last week as the impact of two hurricanes in September faded, but the tally remains at levels economists associate with a recession.