Advertisement
Economic News
Subscribe to Economic News
View Sample

FREE Email Newsletter

Daily news and top headlines for manufacturing professionals

Verso Paper Mill Closing Stuns Workers

October 2, 2014 5:46 pm | by Patrick Whittle - Associated Press | News | Comments

Stunned workers at a shuttering paper mill in Bucksport said Thursday they're going to be scrambling for work and residents said they fear a huge tax increase when the long-standing Verso mill closes.The announcement that the mill will...

ISM: Manufacturing Set For A Strong Q4

October 2, 2014 3:02 pm | by Jon Minnick, Associate Editor, Manufacturing Business Technology | Articles | Comments

Economic activity in the manufacturing sector expanded in September for the 16th consecutive month, and the overall economy grew for the 64th consecutive month, say the nation’s supply executives in the latest Manufacturing ISM Report On Business. Manufacturing...

Airbus Predicts China Will Become Aviation Hotspot

October 2, 2014 11:32 am | by Gavin Thompson, Associate Editor, Bristol Post | News | Comments

The biggest growth in the aerospace sector will come from China in years to come, with China set to become the number one market, according to the bosses at Airbus. One hundred years after the first plane for paying passengers took to the skies, the manufacturer has been...

Advertisement

U.S. Factory Orders Posted Record Drop

October 2, 2014 10:56 am | by Martin Crutsinger - AP Economics Writer | News | Comments

Orders to U.S. factories fell in August by the largest amount on record, but the drop was heavily weighed by an expected plunge in volatile aircraft orders. A key category that tracks business investment plans posted a small increase, offering an...

Russia Dims Hopes For European Auto Rebound

October 2, 2014 9:49 am | by The Associated Press | News | Comments

Troubles in Russia's once-booming car market are dampening spirits at the Paris Motor Show. The European car market is seeing a fragile recovery after six years of decline, but CEOs in Paris are scaling back hopes that Russia could help drive the rebound as...

Verso Announces Closure Of Bucksport Paper Mill

October 1, 2014 4:23 pm | by The Associated Press | News | Comments

Verso Paper Corp. today announced plans to close its paper mill in Bucksport, Maine. The closure of the mill is expected to occur in the fourth quarter of 2014. The mill closure will reduce Verso's coated groundwood paper production capacity by...

Whirlpool Spotlights U.S. Investments In Support Of Manufacturing Day

October 1, 2014 2:14 pm | by The Associated Press | News | Comments

In recognition of Manufacturing Day on October 3, Whirlpool Corporation reiterated the company's investment in American manufacturing and will salute its manufacturing employees for their hard work, dedication, and shared commitment. Whirlpool Corporation currently...

Pace Of U.S. Manufacturing Slipped In September

October 1, 2014 1:53 pm | by Josh Boak, AP Economics Writer | News | Comments

The pace of U.S. manufacturing growth slowed in September, as expectations for hiring and new orders slipped from their August levels. The Institute for Supply Management, a trade group of purchasing managers, said Wednesday that its...

Advertisement

Feds Sue WI Plastics Manufacturer Over Wellness Program

October 1, 2014 1:47 pm | by The Associated Press | News | Comments

The federal government is suing a Wisconsin company over its wellness program, saying the business cannot require employees to participate and punish those who don't. The U.S. Equal Employment Opportunity Commission said Wednesday that it had filed suit against Flambeau, Inc., a plastics...

General Mills Plans To Cut 700 To 800 Jobs

October 1, 2014 1:07 pm | by The Associated Press | News | Comments

General Mills plans to cut approximately 700 to 800 jobs, the second time it's trimmed its work force in a month, as the food company adjusts for a shift by U.S. consumers away from boxed or frozen meals.The Minneapolis company that owns...

U.S. Companies Added 213K Jobs In September, 35K In Manufacturing

October 1, 2014 12:59 pm | by Christopher S. Rugaber, AP Economics Writer | News | Comments

U.S. businesses added 213,000 jobs in September, stepping up hiring for the sixth straight month, according to a private survey.Payroll processor ADP said Wednesday that the pace of hiring by private employers was up slightly from 202,000 in...

Truck Deals Help Boost U.S. Auto Sales In September

October 1, 2014 9:52 am | by Tom Krisher, AP Auto Writer | News | Comments

September sales won't be as hot as August, the best month in eight years, but industry analysts still expect them to be strong. Most predict sales rose around 10 percent from a year ago, fueled mainly by big discounts on pickup trucks. General Motors and...

Ford Adding 1,000 New Jobs In Canada

October 1, 2014 9:33 am | by The Associated Press | News | Comments

Ford Motor Co. of Canada says it is adding 1,000 jobs at its plant in Oakville, Ontario, by the end of this year to build the 2015 Ford Edge crossover SUV for the global market. The automaker said Wednesday it also expects to increase...

Advertisement

Cutler Attacks LePage Over Great Northern Paper Deal

September 30, 2014 7:44 pm | by Patrick Whittle - Associated Press | News | Comments

Independent governor's race candidate Eliot Cutler accused Republican Gov. Paul LePage on Tuesday of leaving taxpayers on the hook for $15.9 million over seven years with a failed deal that aimed to save a pulp and paper manufacturer that recently filed for bankruptcy. Cutler said that LePage...

Bill Gates Ranked Richest American By Forbes

September 30, 2014 11:35 am | by Mae Anderson, Associated Press | News | Comments

Microsoft co-founder Bill Gates topped Forbes' latest list of the 400 richest Americans for the 21st straight year. The list, released on Monday, was largely unchanged for 2014 and showed ...          

Factory Boom Cranks Up Economy, Leads To Strongest Growth In 2 Years

September 30, 2014 10:56 am | by Paul Davidson, USA TODAY | News | Comments

After years of factory closings shrank the nation's industrial footprint, a miniboom in plant construction is beginning to reverse the trend and fuel faster economic growth.A 12.6% surge in spending on ...        

China Manufacturing Growth In September Low

September 30, 2014 3:43 am | by The Associated Press | News | Comments

China's manufacturing activity in September held steady at the previous month's low level, indicating the world's second-largest economy faces risks to growth, a survey showed Tuesday. HSBC Corp.'s monthly purchasing managers' index stood at ...

Consumer Spending Up In August

September 29, 2014 4:03 pm | by Martin Crutsinger, AP Economics Writer | News | Comments

Americans boosted spending by a healthy amount in August, offering welcome evidence that the economy is on solid footing heading into the final quarter of the year. Consumer spending in August rose 0.5 percent from the previous month after...

Brose Celebrates Opening New Michigan Plant

September 29, 2014 3:14 pm | by The Associated Press | News | Comments

Brose North America celebrated the grand opening of its new facility in New Boston, Michigan, today. The facility will support increased growth with Brose's domestically located OEM partners while making a positive impact on Michigan's economy. The opening...

HoneyBaked Ham To Hire 10K Employees

September 29, 2014 11:56 am | by The Associated Press | News | Comments

It may only be September, but HoneyBaked is already gearing up for the holiday season. The company is preparing for the annual rush on its signature Honey Baked Hams, Turkey Breasts, and full assortment of premium products by providing part-time jobs for more than...

The Inversion Crackdown Is In Full Swing

September 29, 2014 10:02 am | by Maura Falk, Associate Editor, Industrial Maintenance & Plant Operations | Blogs | Comments

It looks like the Obama administration has finally thrown down the gauntlet with companies moving their headquarters overseas. For years, companies have been buying smaller businesses abroad and, in turn, evading good old Uncle Sam and his taxes. This practice is called inversion, and President Obama...

Fed's Lockhart Says Inflation Risk Still Low

September 25, 2014 6:44 pm | by Jeff Amy - Associated Press | News | Comments

Atlanta Federal Reserve President Dennis Lockhart said Thursday that he has increasing confidence in the economy but still wants to see more data to prove that growth is on a sustainable path before raising interest rates, saying he doesn't expect rates to ...

Weak Demand, Plentiful Supply Drive Decline In Oil Prices

September 25, 2014 5:57 pm | by U.S. Energy Information Administration | News | Comments

North Sea Brent crude oil prices have remained under the symbolic $100/barrel level since September 5, falling to $94.13/barrel this afternoon, the lowest level in more than two years. Prices have declined almost $21 (18%) from the 2014 daily peak of $115/barrel on...

Applications For U.S. Unemployment Rise To 293K

September 25, 2014 9:51 am | by Christopher Rugaber, The Associated Press | News | Comments

The number of people seeking U.S. unemployment benefits increased last week after falling sharply two weeks ago. Despite the rise, the level of applications remains near pre-recession levels, a sign that hiring will likely remain healthy. Weekly unemployment benefit applications rose...

Durable Goods Fell 18.2 Percent In August

September 25, 2014 8:45 am | by Martin Crutsinger, AP Economics Writer | News | Comments

Business orders for long-lasting manufactured goods fell by a record amount in August, dragged lower by a plunge in demand for commercial aircraft. But orders in a key category that tracks business investment plans posted a gain. The Commerce Department says that orders for durable goods fell...

X
You may login with either your assigned username or your e-mail address.
The password field is case sensitive.
Loading