The Lead
Bribery Trial Of Former Finmeccanica CEO Opens
June 19, 2013 | by Colleen Barry, AP Business Writer | Comments
The former head of Italian aerospace and defense giant Finmeccanica , accused by prosecutors of making bribery part of the company culture, went on trial Wednesday for his alleged role in the payment of bribes to secure a crucial $670 million helicopter contract in India.
China's Wanda Buys Luxury Yacht Maker Sunseeker
June 19, 2013 7:45 am | by Christopher Bodeen, Associated Press | Comments
Chinese property and cinema conglomerate Dalian Wanda Group said Wednesday it is buying British...
GM Breaks Ground On China Cadillac Plant
June 19, 2013 5:14 am | Comments
General Motors Co. executives broke ground for a new Cadillac factory in China on Wednesday to...
Japan Formally OKs New Nuke Safety Requirements
June 19, 2013 8:21 am | Comments
Japan's nuclear watchdog has formally approved new safety requirements for atomic plants, paving...
Fed Foresees Lower U.S. Unemployment Rate
June 19, 2013 2:08 pm | by Christopher S. Rugaber, AP Economics Writer | CommentsThe Fed now predicts unemployment will fall to 7.2 percent or 7.3 percent at the end of 2013 from 7.6 percent now. It thinks the rate will be between 6.5 percent and 6.8 percent by the end of 2014, better than its previous projection of 6.7 percent to 7 percent.
Porsche Tops Annual Survey Of Vehicle Quality
June 19, 2013 1:23 pm | CommentsPorsche is the top performer in an annual survey of new vehicle quality. J.D. Power questioned more than 83,000 U.S. car owners about problems with their 2013 vehicles in the first 90 days of ownership. In the results released Wednesday, Porsche, GMC, Lexus, Infiniti and Chevrolet owners reported the fewest problems.
Unmanned Aircraft Struggle To Shed 'Drone' Image
June 19, 2013 12:51 pm | by Sarah DiLorenzo, AP Business Writer | CommentsThat word conjures up pilotless planes dropping bombs or spying in war zones. But industry officials and regulators say the day is coming when unmanned aircraft will be regularly used for more mundane purposes — and people will be at ease with them appearing in their skies.
Export Revival Underway For Small Businesses
June 19, 2013 12:48 pm | by Joyce M. Rosenberg, AP Business Writer | CommentsResearch shows an increase in overseas sales by companies already exporting, and a growing interest in exporting among those who have yet to test the international waters. Exporters say demand for their goods, from clothing to blankets to crop dusting planes, is rising.
Kolcraft Recalls Strollers Due To Wheel Blowouts
June 19, 2013 12:46 pm | CommentsThe government watchdog group said there have been 39 reports of inner tube ruptures that have caused the wheel rim to break off and become a projectile. The incidents took place mostly when the tires were being inflated, causing cuts and bruises to arms, legs, torso and head or face.
United Tech Sees Possible Impact From Court Order
June 19, 2013 11:33 am | by Stephen Singer, Associated Press | CommentsJudge Thomas M. Rose of the U.S. Southern District Court of Ohio issued the order Monday. The Hartford, Conn., aerospace company said in a regulatory filing Tuesday that it will appeal the order. With damages, penalties and interest, United Technologies said the penalty would rise to about $660 million.
Senators Seek Cost Cuts For F-35 Fighter Jet
June 19, 2013 11:29 am | by Bradley Klapper, Associated Press | CommentsSenators are seeking cost-cutting opportunities in the Pentagon's $400 billion program for the next-generation F-35, a fighter jet with a troubled testing record that military leaders say America cannot afford not to build. Chairing the hearing, Sen. Dick Durbin on Wednesday compared the F-35's history to a textbook on how not to develop a plane.
Xerox To Sell Western European Paper Business
June 19, 2013 11:27 am | CommentsXerox, based in Norwalk, Conn., sold its U.S. and Canadian paper businesses earlier this year. The copier company said it is focusing on growing its business services and document technologies. Xerox doesn't make paper but has distributed a range of papers and specialty print media through its brand name.
Obama Renews Calls For Nuclear Reductions
June 19, 2013 10:32 am | by Julie Pace, Associated Press | CommentsIssuing an appeal for a new citizen activism in the free world, President Barack Obama renewed his call Wednesday to reduce U.S. and Russian nuclear stockpiles and to confront climate change, a danger he called "the global threat of our time."
Not 'Tired' Of Yokohama
June 19, 2013 10:30 am | by Nathan Gregory, The Commercial Dispatch | CommentsCustomers of George's Tire in West Point are specifically ordering Yokohama's car and light truck tires, said owner Todd Glusenkamp. Glusenkamp said he has seen an overall sales increase of about 20 percent to 30 percent since he started distributing Yokohama tires just over a month ago.
Obama Warns EU Over High Youth Unemployment
June 19, 2013 10:01 am | CommentsObama said at a news conference in Berlin Wednesday that he has confidence in the eurozone's policies to resolve the 17-nation bloc's debt crisis, but also warned that policymakers must not lead to lose sight "of our main goal, which is to make people's life better."
EU Fines Pharma Firms Over Generics Delay
June 19, 2013 10:00 am | CommentsThe European Union has fined Danish pharmaceuticals multinational Lundbeck and several other producers a combined 146 million euros ($195 million) for delaying the market entry of cheaper generic alternatives to a major antidepressant. The EU claimed that the companies sought to capitalize profit at the expense of patients.
Alcatel-Lucent Plans Overhaul, Big Cost Cuts
June 19, 2013 9:59 am | CommentsTelecommunications equipment manufacturer Alcatel-Lucent launched a major effort Wednesday to boost its fortunes by shedding businesses and jobs as part of a deep cost cutting program. Shares rose nearly 5 percent on the announcement, as investors hope that the plan brings the solid profits that have eluded the Paris-based company for years.
Chrysler Agrees To Recall Jeeps At Risk Of Fire
June 19, 2013 8:09 am | by Dee-Ann Durbin and Tom Krisher, AP Auto Writers | CommentsBut the recall, which came in an 11th-hour deal between the automaker and the National Highway Traffic Safety Administration, covers only 1.56 million of the 2.7 million Jeeps that the government wanted repaired. The rest are part of a "customer service action" and many may not get fixed.
Mine Safety Lab Creates Disasters To Train
June 19, 2013 7:54 am | by Vicki Smith, Associated Press | CommentsThis is the magic of the Running Right Leadership Academy, a $23 million training complex dedicated to teaching miners how to avoid injury and death in any disaster, and in one of the most dangerous work environments. Alpha Natural Resources calls it the only facility of its kind in the world, a place where crises can be created but controlled, giving miners realistic preparation for the day they hope will never come.
Tesla Model S Recall For Rear Seat Latch Issue
June 19, 2013 7:42 am | CommentsTesla is recalling as many as 1,228 of its Model S vehicles, citing a problem with a rear seat latch in the electric sports sedan. Chairman and CEO Elon Musk said in a blog entry Wednesday that the strength of a mounting bracket for the rear, left seat latch may be weaker than intended.
Ark. AG Seeks To Uphold Verdict Against J&J
June 19, 2013 7:40 am | by Andrew DeMillo, Associated Press | CommentsArkansas' attorney general filed a brief Tuesday backed by his counterparts in 35 other states asking the Arkansas Supreme Court to uphold a $1.2 billion fine levied against Johnson & Johnson and a subsidiary over the marketing of the antipsychotics drug Risperdal.
FDA Investigates Zyprexa Patient Deaths
June 19, 2013 7:34 am | CommentsThe Food and Drug Administration says the patients died three to four days after receiving an appropriate dose of the drug known as Zyprexa Relprevv. They had very high levels of olanzapine in their blood. That is the chemical compound behind Zyprexa. High levels of olanzapine can lead to cardiac arrest, irregular heartbeats, sedation or comas.
Senators Introduce Export Bill
June 18, 2013 2:19 pm | CommentsU.S. Sens. Jeanne Shaheen and Kelly Ayotte are teaming up to help small businesses make the most of their export opportunities. The senators on Tuesday reintroduced the bipartisan Small Business Export Growth Act, which is aimed at cutting down on bureaucratic hurdles and giving businesses more exporting assistance.
Techne To Buy Bionostics For $104M
June 18, 2013 1:32 pm | CommentsBionostics develops, manufactures and distributes products that verify the proper operation of in vitro diagnostic devices mainly used in blood glucose and blood gas testing. The company has supply relationships with the vast majority of in vitro diagnostic device manufacturers, Techne said.