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Daily news and top headlines for manufacturing professionals

Ford Sets 1Q 2008 Production Target

February 28, 2008 4:53 am | by James Prichard, AP Business Writer | News | Comments

Ford Motor Co. expects to produce 685,000 vehicles in North America during the first quarter of 2008, 55,000 fewer than the first three months of last year.

Lawsuit Seeks Over $1 Billion From Alcoa

February 28, 2008 4:40 am | by Joe Mandak, Associated Press Writer | News | Comments

Federal lawsuit claims the American aluminum maker overcharged an aluminum company in Bahrain by bribing the company's former officials and the Bahraini government.

China, S. Korea Probe Factory Worker Complaints

February 28, 2008 4:39 am | by Elaine Kurtenbach, AP Business Writer | News | Comments

China and South Korea are investigating complaints that hundreds of Korean-invested factories have closed down, leaving workers without pay.

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Nintendo Display Panel Makers Raided For Price-Fixing

February 28, 2008 4:32 am | by Mari Yamaguchi, Associated Press Writer | News | Comments

Japan's fair trade watchdog raided two electronics companies Thursday on suspicion of fixing prices of display panels for Nintendo's popular DS portable game machines.

Japanese Industrial Output Slips In January

February 28, 2008 4:29 am | News | Comments

Industrial output fell more than expected on weaker overseas demand for electronic devices and cars, adding to fears the nation's economy may be facing a recession.

Danish Tobacco Group Sells Cigarette Business

February 28, 2008 4:18 am | by Jan M. Olsen, Associated Press Writer | News | Comments

Denmark-based Scandinavian Tobacco Group sold its cigarette activities to British American Tobacco PLC in a $4.1 million deal.

China Becomes Japan's Largest Trading Partner

February 28, 2008 4:15 am | News | Comments

China accounted for 17.7 percent of Japan's total trade last year, while the United States dropped to second place, with 16.1 percent of the total.

Unemployment Claims Soared Last Week

February 28, 2008 4:15 am | News | Comments

More workers signed up for unemployment benefits last week with applications rising by 19,000 to 373,000 — an increase larger than expected.

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Factory Orders For Big-Ticket Goods Plunge In January

February 27, 2008 11:16 am | by Martin Crutsinger, AP Economics Writer | News | Comments

U.S. factory orders for big-ticket manufactured goods fell by the largest amount in five months as manufacturers got caught in the weakness engulfing the rest of the economy.

Daimler: Chrysler Lost $2.7 Billion In Two Months

February 27, 2008 10:50 am | by Tom Krisher, AP Auto Writer | News | Comments

Chrysler lost about $2.7 billion from August to September after Daimler sold the automaker to a New York private equity firm, Daimler said in its annual report.

EU Allows Acer To Purchase Packard Bell

February 27, 2008 6:05 am | News | Comments

European Commission regulators approved the purchase of Netherlands-based PC maker Packard Bell by Taiwan's Acer on Wednesday.

Dial Soap Maker Could Send 3000 Jobs Down The Drain

February 27, 2008 5:55 am | by Matt Moore, AP Business Writer | News | Comments

Henkel KGaA, the German maker of household products, is planning an efficiency program that could eliminate as many as 3,000 jobs, or almost 6 percent of its global work force.

Magna Expecting Vehicle Production To Slip

February 27, 2008 5:51 am | News | Comments

Canadian automotive supplier forecasts full-year 2008 light vehicle production volumes to fall to 14.4 million units in North America from 15.1 million in 2007.

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Bernanke: Fed Ready To Ease Credit Further

February 27, 2008 5:50 am | News | Comments

Federal Reserve Chairman Ben Bernanke assured Congress on Wednesday that the Fed is ready to further loosen its grip on credit to avoid recession.

Economic Confidence Among Execs Continues To Fall

February 27, 2008 5:44 am | by Edited by Manufacturing.net Staff | News | Comments

Recession fears led to a further decline in optimism among consumer products senior executives in the fourth quarter of 2007, according to PricewaterhouseCoopers.

Economy, Inflation Triggers 'Stagflation' Worries

February 27, 2008 5:05 am | by Jeannine Aversa, AP Economics Writer | News | Comments

Soaring prices and slowing economic growth could result in ‘stagflation’ — an event the U.S. hasn’t seen in three decades.

BMW Cutting 5600 Jobs

February 27, 2008 4:54 am | by Roland Losch, Associated Press Writer | News | Comments

Luxury car maker will cut another 5,600 jobs by the end of 2008, on top of 2,500 other positions that have already been eliminated, amid a wide cost-cutting program.

Chrysler, Plastech Extend Temporary Supply Deal

February 27, 2008 4:50 am | News | Comments

After a federal judge ruled last week that Plastech can keep Chrysler's equipment as it works through its restructuring, the two companies agree to continue a temporary supply agreement until March 3.

Nissan, Mitsubishi Expand Minicar Alliance

February 27, 2008 4:49 am | News | Comments

Japanese automakers agreed to expand their alliance to broaden the scope of their minicar and light commercial vehicle production.

French Price-Fixing Probe Targets Nine Companies

February 27, 2008 4:41 am | by John Leicester, Associated Press Writer | News | Comments

European and U.S. consumer products makers, including Procter & Gamble and Colgate-Palmolive, are suspected of colluding on prices and could face billions in fines.

Honda Not Worried About U.S. Recession

February 27, 2008 4:35 am | by Yuri Kageyama, AP Business Writer | News | Comments

Automaker's president brushed off looming worries about a U.S. slowdown Wednesday, saying sales are strong especially on the East Coast amid growing demand for fuel-efficient cars.

Beijing: Importing Countries Need To Ensure Safety

February 27, 2008 4:15 am | by Elaine Kurtenbach, Associated Press Writer | News | Comments

China's drug safety agency said it enforces strict controls on chemicals used in pharmaceuticals, but that importing countries are ultimately responsible for ensuring product safety.

Consumer Confidence Plummets As Economy Weakens

February 26, 2008 10:00 am | News | Comments

Consumer confidence plunged, the wholesale inflation rate soared, home foreclosures jumped, home prices fell sharply and a report predicts big increases in health care costs.

Report: Europe Needs To Increase R & D Spending

February 26, 2008 5:48 am | by Uthayla Abdullah, Associated Press Writer | News | Comments

Europe has not significantly increased research spending in more than 20 years and will miss a target to invest more by 2010, a think tank report said.

Judge Upholds $196.2 Million Award Against DuPont

February 26, 2008 5:45 am | News | Comments

West Virginia judge upheld a punitive damages award against DuPont in a class-action pollution case and ordered the chemical giant to set aside $130 million for a medical monitoring plan.

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