World's largest iron ore producer has cut 2.1 percent of its work force because of slumping global demand for the raw ingredient used to make steel.
British drugmaker AstraZeneca PLC said Wednesday it named Graham Baker vice president and chief financial officer for North America, effective Jan. 1.
After recalls of millions of toys last year, watchdog group said fewer toys have high levels of chemicals, but about a third of the toys tested contained a worrisome level of chemicals.
Bauhaus USA Inc., a division of La-Z-Boy, will close its upholstered furniture plant in Sherman, Miss., costing 139 jobs in the latest setback for the area’s troubled furniture industry.
Automaker will suspend production of some vehicles in Japan for two days later this month to reduce output to grapple with slowing global demand.
Poultry processor, which filed for bankruptcy protection this week, said a Texas court approved an agreement allowing the company to access $365 million in financing.
Worker productivity slowed in the summer while wage pressures increased, but both were better than expected and unlikely to raise inflation alarms at the Federal Reserve.
United States Steel Corp. will temporarily idle three facilities -- affecting 3,500 workers -- in its latest move to reduce production amid falling demand for its steel products.
Winston-Salem-based company is closing its last large knit-fabric textile plant in the U.S. in mid-February instead of next summer as it moves production to Asia.
Decline in the Chinese currency's value against the U.S. dollar is threatening to bring the long-simmering issue to full boil as U.S.-China economic talks get under way.
South Korea's second-largest automaker said Wednesday that construction of its first U.S. plant is proceeding on schedule and will open as planned late next year.
Auto supplier’s parts plant employing 260 in Cape Breton, N.S., is shutting down this month and will be permanently closed by the end of next year.
German auto industry's leading trade group said Wednesday it expects next year's car sales to be the worst since the reunification of the country in 1990.
Swedish government on Wednesday said it's ready to support U.S.-owned automakers Volvo and Saab but doesn't want to take over the troubled brands.
Pennsylvania senator said the mood in Congress was 'not supportive' of the $25 billion bailout, but added that bankruptcy would be 'cataclysmic'.
Swedish truckmaker on Wednesday said it will suspend its truck production in Europe for one month because of a drop in orders.
Ford’s November sales dropped 31 percent, Toyota's tumbled 34 percent and Honda's fell 32 percent, dashing hopes that the industrywide drop in vehicle demand might be easing.
GM says it needs $4 billion in government loans this month and a total of $12 billion by late March to keep operating, as it plans to slash workers, brands and plants by 2012.
Eager to avoid another scathing lecture from Congress, CEOs of America's two biggest automakers will travel to Washington hearings this week in hybrid vehicles made by their companies.