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Daily news and top headlines for manufacturing professionals

Energy Stocks Fall As Oil Slips Below $80 A Barrel

October 28, 2014 9:50 am | by The Associated Press | News | Comments

The price of oil dipped below $80 a barrel Monday, after a major investment bank lowered its forecast for crude prices this year and next. Goldman Sachs analysts now expect U.S. oil prices to be roughly $75 a barrel in 2015, down from their previous forecast of $90 a barrel. Goldman also sees Brent...

U.S. Durable Goods Fell 1.3% In September

October 28, 2014 9:28 am | by Martin Crutsinger, AP Economics Writer | News | Comments

Orders to U.S. companies for long-lasting manufactured goods fell for a second month in September, while a key category that signals business investment plans dropped by the biggest amount in eight months. The declines, however, were likely a temporary soft patch that will likely be followed by a resumption of stronger...

Fertilizer Maker Files Bankruptcy

October 27, 2014 6:35 pm | by The Associated Press | News | Comments

Fertilizer manufacturer Mississippi Phosphates Corp. is seeking protection under Chapter 11 of the U.S. bankruptcy code. The Mississippi Press reported the 200-employee company makes diammonium phosphate fertilizer at a plant in east Jackson County. The company says it...

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S&P 500 Ends With Slight Loss On Oil, Bad News From Europe

October 27, 2014 5:02 pm | by Matthew Craft, AP Business Writer | News | Comments

Lower oil prices and more gloomy economic news from Europe tugged the U.S. stock market to a slight loss on Monday. Companies whose fortunes tend to follow global economic growth fared the worst, as shares of oil companies and material producers dropped 2 percent. Those industries that depend on the...

Fed Will Likely Signal No Rate Hike Anytime Soon

October 27, 2014 12:36 pm | by Martin Crutsinger, AP Economics Writer | News | Comments

The global economy has slumped. Turmoil has gripped financial markets. And the U.S. job market, despite steady gains, still isn't fully healthy. Yet when the Federal Reserve meets this week, few foresee any major policy changes. The Fed is expected to complete a bond-buying program, which was...

OH Gas Prices Stay Below $3 Per Gallon

October 27, 2014 12:15 pm | by The Associated Press | News | Comments

Prices at the gas pumps in Ohio at the start the new work week were well below the $3-per-gallon mark, according to a survey Monday. A gallon of regular gas was averaging $2.94 in the survey from auto club AAA, the Oil Price Information Service and WEX Inc. That's 13 cents less than a week ago and 38 cents lower than last month at this...

Obama Taking Action To Push Manufacturing

October 27, 2014 6:33 am | by The Associated Press | News | Comments

President Barack Obama is expanding his push for increased manufacturing in the United States by directing federal money toward new technologies, apprenticeship programs and competitions designed to assist small manufacturers. The White House is announcing the executive actions Monday as part of...

Procter & Gamble Spinning Off Duracell

October 24, 2014 12:30 pm | by Michelle Chapman & Candice Choi, AP Business Writers | News | Comments

Procter & Gamble is removing its batteries and making Duracell a stand-alone company. The world's largest consumer products maker, which acquired Duracell in 2005, has been trimming its product lineup to focus on its top performers. After it finishes jettisoning more than half its brands around the globe over...

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Amazon's 3Q Loss Gives Disappointing Holiday Forecast

October 24, 2014 10:01 am | by Mae Anderson, AP Technology Writer | News | Comments

Amazon's trademark smile icon is becoming more of a grimace. The world's largest online retailer reported a wider third-quarter loss than analysts expected and gave a disappointing holiday forecast. Investors are increasingly irked by Amazon's strategy of investing heavily...

Ford Profit Falls In 3Q On Truck Costs

October 24, 2014 9:49 am | by Dee-Ann Durbin, AP Auto Writer | News | Comments

Ford's new aluminum-sided F-150 will be a lot lighter and more efficient when it goes on sale later this year. But for now it's a serious drag on profits. Ford's net income dropped 34 percent to $835 million in the third quarter, largely due to the cost of launching the pickup. The new F-150, which is...

Fuel Costs Ease, U.S. Airline Profits Soar

October 23, 2014 2:08 pm | by David Koenig, AP Business Writer | News | Comments

Saving a nickel or a dime per gallon might not seem like much to the average motorist, but for airlines that burn hundreds of millions of gallons of fuel every month, it adds up quickly. Profits are soaring at the biggest U.S. airlines, and a chunk of credit goes to those savings at the pump. Fuel is an airline's...

Caterpillar Beats Wall Street Forecasts In 3Q

October 23, 2014 2:02 pm | by The Associated Press | News | Comments

Caterpillar's belt tightening paid off in the third quarter as the manufacturer easily beat Wall Street expectations and raised its outlook for the year. Shares rose nearly 4 percent before the opening bell Thursday. The company has wrestled with a slowing global economy and took a restructuring charge...

Coke Slashing Costs As Soda Sales Remain Flat

October 23, 2014 1:59 pm | by The Associated Press | News | Comments

Coca-Cola said it plans to slash costs by $3 billion a year after the world's biggest beverage maker reported disappointing sales on flat soda volume.The Atlanta-based company said it will reach its cost-cutting goal by 2019 through a variety of measures, such as restructuring its global supply chain. It did not specify how...

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GM Profits Nearly Double, Led by North American Sales

October 23, 2014 12:13 pm | by Tom Krisher, AP Auto Writer | News | Comments

Big profits from rising SUV and truck sales in North America helped General Motors nearly double its third-quarter net profit and more than offset its struggles in Europe and South America. The automaker posted net income of $1.38 billion, or 81 cents per...

Coal-Rich Countries May Block New EU Climate Deal

October 23, 2014 9:56 am | by Monika Scislowska, The Associated Press | News | Comments

European Union leaders meeting in Brussels to stamp their new, ambitious greenhouse gas emissions plan should prepare for unyielding opposition from coal-reliant Poland and other East European countries who say their developing economies and electricity bills would suffer too much from the new...

India Picks Up Pace On Economic Overhaul

October 23, 2014 2:33 am | by Muneeza Naqvi, The Associated Press | News | Comments

After months of criticism for not moving aggressively enough on promises of an economic overhaul, India's new prime minister has announced a string of policies designed to kick-start Asia's third-largest economy. Over the past week, Prime Minister Narendra Modi has unveiled an overhaul of India's...

China's Manufacturing Fails To Fire In October

October 23, 2014 12:37 am | by The Associated Press | News | Comments

A gauge of the health of China's manufacturing industry inched higher in October but factory output was at a five-month low in a sign of slowing domestic and foreign demand. HSBC said Thursday the preliminary version of an index based on a survey of factory purchasing managers rose to 50.4 from...

U.S. Industrial Vacancy Rate The Lowest In Over A Decade

October 22, 2014 1:27 pm | by Cushman & Wakefield National Industrial | News | Comments

The U.S. industrial vacancy rate dropped to its lowest level in more than a decade during the third quarter of 2014, according to commercial real estate services firm Cushman & Wakefield. The company’s latest research findings, released today, show significant space absorption, which coupled...

Does America Deserve A Raise?

October 22, 2014 12:14 pm | by Maura Falk, Associate Editor, Industrial Maintenance & Plant Operations | Blogs | Comments

With an economy that is tentatively getting back on its feet, it only seems appropriate that minimum wage become a point of focus. Currently the federal minimum wage is $7.25 per hour, however, this may soon be a figure of the past.“America deserves a raise,” stated President Obama to a...

Bourbon Makes Mark On KY Economy

October 21, 2014 2:13 pm | by Bruce Schreiner, Associated Press | News | Comments

Kentucky's bourbon industry is making a bigger splash in the state's economy, nearly doubling its workforce in two years and leading a $3 billion distilling sector, a study said Tuesday. By 2014, the number of licensed distilling companies tripled in two years from 10 to 31 — the most distilleries in Kentucky since...

Unemployment Rates Fall In 31 States

October 21, 2014 2:00 pm | by Christopher Rugaber, The Associated Press | News | Comments

Unemployment rates fell in 31 U.S. states in September, including in many where incumbent governors and senators face tough re-election campaigns. The report is the final data on state unemployment before the Nov. 4 elections. Tuesday's data may quickly find its way into late campaign ads and stump speeches. The economy is the top concern for...

McDonald's Faces Problems In The U.S.

October 21, 2014 10:57 am | by The Associated Press | News | Comments

Times are getting leaner for McDonald's. McDonald's said Tuesday a key sales figure declined 3.3 percent in the U.S., marking the fourth straight quarter of declines for the world's biggest hamburger chain. By contrast, Chipotle reported a 19.8 percent increase in sales at...

Kimberly-Clark To Cut Up To 1,300 Jobs

October 21, 2014 10:09 am | by The Associated Press | News | Comments

Kimberly-Clark plans to eliminate up to 1,300 jobs as part of restructuring efforts aimed at reducing costs and making its business more efficient. The consumer products company has 58,000 workers worldwide, according to its website. Kimberly-Clark Corp. said Tuesday that it anticipates...

Can Paid Internships Help To Bridge The Gap In Manufacturing?

October 20, 2014 1:58 pm | by Megy Karydes, Communications Consultant, IIE | News | Comments

Trevor Fischer, a 23 year old enrolled at Bellingham Technical College in Bellingham, Washington, admits he never held much interest in pursuing a career in manufacturing. He believes young people don't consider a career in manufacturing because the idea of working at a big industrial plant can be...

Federal Reserve Chair Greatly Concerned By Widening Inequality

October 20, 2014 10:05 am | by Martin Crutsinger, AP Economics Writer | News | Comments

Federal Reserve Chair Janet Yellen sounded an alarm Friday about widening economic inequality in the United States, suggesting that America's longstanding identity as a land of opportunity was at stake.The growing gap between the rich and everyone else narrowed slightly during...

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