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Daily news and top headlines for manufacturing professionals

Hong Kong Firms Struggling With Chinese Labor Laws

April 24, 2008 6:29 am | News | Comments

Manufacturers in the industrial hotbed in Guangdong Province are facing difficulties from higher labor costs and tough labor laws that may force some to close.

India Raising Cap On Foreign Investment In Defense

April 24, 2008 6:08 am | Lockheed Martin, Boeing | News | Comments

Defense Ministry plans to raise the 26 percent cap on foreign direct investment, a move aimed at attracting global military and aerospace companies to invest in the country.

German Business Confidence Hits 2-Year Low

April 24, 2008 5:42 am | by Matt Moore, AP Business Writer | News | Comments

Business confidence fell to 102.4 points in April, after three months of increases, reflecting concern about the record-setting euro and soaring oil prices.

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GM: American Axle Strike Likely Hurt 1Q Fleet Sales

April 24, 2008 5:35 am | by Tom Krisher, AP Auto Writer | News | Comments

Nearly two-month strike at its parts supplier may have cost the automaker sales of 7,000 to 10,000 vehicles to fleet buyers, a GM sales executive said.

Ford Posts Better-Than-Expected 1Q Profit

April 24, 2008 5:29 am | by Tom Krisher, AP Auto Writer | News | Comments

Automaker surprised Wall Street with a $100 million profit as strong results from Europe and South America helped offset the impact of a slumping U.S. economy.

GE's Immelt Expecting Rough Economic Times

April 23, 2008 6:57 am | News | Comments

General Electric CEO tells shareholders the economy is the toughest it's been since 2001 and the U.S. is facing the worst housing crisis since the Great Depression.

Toyota Tops GM In 1Q World Sales

April 23, 2008 6:45 am | by Tom Krisher, AP Auto Writer | News | Comments

Japanese automaker has taken the global automotive sales lead from General Motors, selling 2.41 million vehicles to GM's 2.25 million.

Boeing Misses Another Billion-Dollar Government Deal

April 23, 2008 6:11 am | by Joelle Tessler, AP Business Writer | Lockheed Martin, Boeing | News | Comments

Northrop Grumman beat out Boeing and Lockheed Martin to win a $1.16 billion contract to design and develop an unmanned aircraft for patrolling coastlines and the open ocean.

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Thousands Of Workers Strike In Vietnam

April 23, 2008 6:08 am | News | Comments

More than 4,000 workers walked off the job at a privately owned shoe factory in Ho Chi Minh City, demanding higher pay to keep pace with rising inflation.

American Axle: UAW Rejecting Competitive Offers

April 23, 2008 6:05 am | by Tom Krisher, AP Auto Writer | News | Comments

Talks between American Axle and striking United Auto Workers worsened as the union has rejected offers that are better than those paid by competitors.

Supreme Court To Hear Worker Benefits Case

April 23, 2008 5:47 am | by Christopher S. Rugaber, AP Business Writer | News | Comments

Depending on how the justices rule, the case could make it easier for employees to win health and disability benefit payments in court.

EU Takes Little Action On Piracy In China

April 23, 2008 5:45 am | by Robert Wielaard, Associated Press Writer | News | Comments

Despite estimates of pirated goods costing businesses $33.3 billion in lost trade annually, the EU hasn't pursued any Chinese piracy cases in the World Trade Organization.

Van Conversion Company Lays Off 150 Workers

April 23, 2008 5:36 am | News | Comments

Explorer Van has laid off workers because the UAW strike against American Axle left it with no Chevrolet or GMC vans to convert.

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Bush Defends NAFTA, Denies Recession

April 22, 2008 11:30 am | by Ben Feller, Associated Press Writer | News | Comments

Replying to criticism from Democratic presidential candidates, Bush said that 'now is not the time to renegotiate ... or walk away from' the North American Free Trade Agreement.

Economist: Housing Slump Could Surpass Depression

April 22, 2008 10:40 am | by John Christoffersen, AP Business Writer | News | Comments

Yale University economist Robert Shiller cautioned that the U.S. housing market slump could cause prices to fall more than they did in the Great Depression, and bailouts will be needed so millions don't lose their homes.

Airbus Raising Jet Prices

April 22, 2008 10:30 am | by Emma Vandore, AP Business Writer | Airbus, Boeing | News | Comments

European plane maker announced increases of as much as $4 million to catalog prices, citing the ever-cheaper dollar and the high cost of metals.

Japan Airlines May Demand Compensation From Boeing

April 22, 2008 7:05 am | by Tomoko A. Hosaka, Associated Press Writer | Boeing | News | Comments

Asia's largest carrier says it may seek financial compensation from Boeing for delivery delays of its new 787 jetliner.

Report: U.S. Slowdown Impacting Industrialized Regions

April 22, 2008 6:46 am | by Edited by Manufacturing.net Staff | News | Comments

U.S. recession and financial crisis weakening prospects for economic growth in key industrialized regions, according to the Manufacturers Alliance/MAPI.

Lockheed’s Space Business Offsets Slow Jet Sales

April 22, 2008 6:10 am | by Stephen Manning, AP Business Writer | Lockheed Martin | News | Comments

Defense contractor's first-quarter earnings rose 6 percent as higher sales of space equipment, missiles and other combat tools offset a dip in fighter jet sales.

Samsung Chairman To Step Down

April 22, 2008 5:35 am | by Kelly Olsen, AP Business Writer | News | Comments

Chairman Lee Kun-hee is resigning after 20 years as chief of South Korea's biggest conglomerate in the aftermath of his indictment on tax evasion and other charges.

Court To Rule On Tariff Trade Law

April 21, 2008 11:45 am | by Christopher S. Rugaber, AP Business Writer | News | Comments

Supreme Court said Monday it will rule on a case that could make it harder for U.S. companies to obtain protective tariffs on low-priced foreign goods.

GE CEO Stresses Power Generation Diversity

April 21, 2008 11:03 am | by John Wilen, AP Business Writer | News | Comments

To meet growing power needs, utilities must be willing to consider new generation methods while making existing techniques more efficient, Chief Executive Jeffrey Immelt said.

'Gas Guzzlers' Popular In China

April 21, 2008 10:55 am | by Joe McDonald, AP Business Writer | News | Comments

Auto sales in China are booming and demand for the biggest vehicles is getting stronger, with sales of luxury cars and SUVs expected to surge by 40-45 percent.

Crude Hits A Record $117 Per Barrel

April 21, 2008 7:23 am | by Marta Falconi, Associated Press Writer | News | Comments

While oil summit debates reason for record high prices, light sweet crude hits $117 a barrel.

American Axle Strike Affects 2 More GM Factories

April 21, 2008 6:50 am | by Tom Krisher, AP Auto Writer | News | Comments

Automaker says the eight-week strike at American Axle and Manufacturing Holdings has forced it to cut production at two more factories.

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