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Daily news and top headlines for manufacturing professionals

Budget Office: Wage Hike Would Lift Pay, Cost Jobs

February 19, 2014 7:40 am | by Alan Fram, Associated Press | News | Comments

Boosting the federal minimum wage as President Barack Obama and congressional Democrats are proposing would increase earnings for more than 16.5 million people by 2016 but also cut employment by roughly 500,000 jobs, Congress' nonpartisan budget analyst said Tuesday.

Obama, Fellow Dems Are At Odds On Big Trade Bills

February 18, 2014 2:20 pm | by Tom Raum, Associated Press | News | Comments

President Barack Obama wants to put major emerging trade deals with Europe and Asia on a "fast track" to congressional passage. But with midterm elections looming, many fellow Democrats are working to sidetrack them instead.     

U.S. Gov't. Is Broadening Producer Price Index

February 18, 2014 2:05 pm | by Christopher S. Rugaber, AP Economics Writer | News | Comments

By tracking what manufacturers and farmers charged for their goods, the producer price index has traditionally provided an early read of inflation trends. It captured how much of the change in oil, grains and other raw material costs was being passed on by producers.

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Toray To Invest $1 Billion, Hire 500 In S.C.

February 18, 2014 1:52 pm | by S.C. Department of Commerce | News | Comments

Toray Industries, Inc., a Tokyo-based manufacturer of fibers and textiles, plastic resins, films and carbon fiber compositematerials, has selected Spartanburg County, S.C. for its next global facility. The $1 billion investment over the next decade is expected to create 500 new jobs and represents one of the largest initial capital investments in South Carolina's history.

MAPI: January Production Down, But Year-Long Outlook Still Good

February 18, 2014 10:20 am | by The Manufacturers Alliance for Productivity and Innovation (MAPI) | News | Comments

"The Federal Reserve reports that industrial production fell 0.3 percent in January, following 0.3 percent growth in December. The abnormally cold weather caused a 4.1 percent surge in utility production last month."

Obama: Immigration, Minimum Wage Top Agenda

February 14, 2014 2:06 pm | by Charles Babington, Associated Press | News | Comments

The president and vice president called for sweeping changes to immigration laws, but Republican leaders have all but ruled out passage before the midterm election. Obama urged the Democratic crowd to keep working for it and insisted some Republicans want a deal.

Eurozone Recovery Accelerates But Jobs Elusive

February 14, 2014 12:55 pm | by Juergen Baetz, Associated Press | News | Comments

The economy of the euro bloc grew 0.3 percent in the October-December period from the previous quarter, the Eurostat statistics office said Friday. That was slightly faster than expected and up from the third quarter's 0.1 percent. The recovery remains tepid, however, at least by global standards.

Cold Weather Causes Factory Output To Drop

February 14, 2014 10:05 am | by Josh Boak, AP Economics Writer | News | Comments

The Federal Reserve said factory production plunged 0.8 percent in January, reversing gains of 0.3 percent in both December and November. Automakers lost days of production because of snowstorms, as their production plummeted 5.1 percent, the report said.

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Manufacturing.net Rewind: A Sluggish Economy; U.S. Drone Makers Get Shut Out

February 14, 2014 8:47 am | News | Comments

Check out some of this week's top headlines from across Manufacturing.net, from Chinese villagers attacking a factory to the Volkswagen incentives being threatened by the UAW. Also, a judge allows a lawsuit over cancer in children against Whirlpool, and a slowdown in China will be felt around the world.

PwC: Industrial M&A Activity Up In Second Half Of 2013

February 13, 2014 4:11 pm | by PwC US | News | Comments

While 2013 as a whole marks the second consecutive annual decline, deal activity in the second half of the year increased with 83 deals worth $35.7 billion versus 69 deals for $24 billion in the first half. The fourth quarter of 2013 recorded 40 transactions worth $50 million or more.

Debt Limit Saves GOP From Political Showdown

February 13, 2014 1:56 pm | by Donna Cassata, Associated Press | News | Comments

Republicans' new acquiescence to letting the government pile up more debt with no strings attached paid double political dividends: It spared the GOP another politically debilitating showdown with President Barack Obama and also forced Democrats to cast votes that rivals immediately used against them in this year's midterm elections.

U.S. Businesses Boost Inventories As Sales Slow

February 13, 2014 1:52 pm | by Christopher S. Rugaber, AP Economics Writer | News | Comments

U.S. businesses restocked their shelves and warehouses at a faster pace in December, but sales slowed, a cautionary sign for the economy. The Commerce Department says inventories rose 0.5 percent after a 0.4 percent increase in November. Sales growth fell to just 0.1 percent, from 0.7 percent in November.

Study: Manufacturers Will Benefit From Low-Cost U.S. Natural Gas

February 13, 2014 10:59 am | by The Boston Consulting Group (BCG) | News | Comments

Low U.S. electricity prices in natural-gas-fired plants, for example, are already encouraging investment in energy-intensive industries such as steel and glass. Not yet visible are the advantages that makers of intermediate products, such as plastic-resin pellets, and makers of finished goods, such as plastic toys and plastic auto parts, will reap from cheaper inputs.

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U.S. Retail Sales Down 0.4 Percent In January

February 13, 2014 10:34 am | by Josh Boak, AP Economics Writer | News | Comments

Cold weather across much of the nation contributed to a drop in retail sales in January. Americans spent less on autos and clothing and at restaurants — a decline that suggests that momentum from consumer spending at the end of 2013 has tailed off.

Applications For Jobless Benefits Rise To 339K

February 13, 2014 8:54 am | by Christopher S. Rugaber, AP Economics Writer | News | Comments

The number of people seeking U.S. unemployment benefits rose 8,000 last week to 339,000, evidence that layoffs ticked up. Still, the increase wasn't enough to suggest the job market is worsening. The Labor Department says the four week average of applications, a less volatile measure, increased 3,500 to a seasonally adjusted 336,750.

U.S.: Bangladesh Must Do More To Regain Trade Perk

February 11, 2014 11:37 am | by Matthew Pennington, Associated Press | News | Comments

Washington suspended the benefits last June, two months after the collapse of the Rana Plaza factory building in Dhaka that killed 1,129 people. The disaster put a grim spotlight on low wages and lax safety in the impoverished nation's lucrative apparel business that exports nearly $5 billion annually to the U.S.

U.S. Job Openings Fall From 5-Year High

February 11, 2014 11:02 am | by Christopher S. Rugaber, AP Economics Writer | News | Comments

U.S. employers posted fewer job openings in December and hiring slowed, adding to evidence that the job market weakened that month. November's total was the first time that available jobs had topped 4 million since March 2008.     

U.S. Wholesale Stockpiles Rise 0.3 Percent In December

February 11, 2014 10:55 am | by Paul Wiseman, AP Economics Writer | News | Comments

U.S. wholesale businesses increased their stockpiles in December at the slowest pace since last summer, another sign that the economy lost some momentum at the end of 2013. The Commerce Department says wholesalers boosted stockpiles by 0.3 percent in December from November, smallest gain since July.

Manufacturing Technology Orders End 2013 On Strong Note

February 11, 2014 9:50 am | by AMT – The Association For Manufacturing Technology | News | Comments

December U.S. manufacturing technology orders totaled $491.89 million according to AMT - The Association For Manufacturing Technology. This total, as reported by companies participating in the USMTO program, was up 9.9 percent from November and up 11.8 percent when compared with the total of $439.90 million reported for December 2012.

5 Ways China's Slowdown Will Ripple Across Globe

February 11, 2014 8:06 am | by Joe McDonald, AP Business Writer | News | Comments

Growth has marched steadily downward over the past two years as Beijing clamped down on a spending boom that analysts worry has pushed debt to dangerous levels. That has meant less Chinese demand for imported goods from copper and cement to factory machinery and earth movers.

U.S. Business Group Wants China To Expedite Reforms

February 10, 2014 2:20 pm | News | Comments

Communist Party leaders pledged in November to open state-dominated industries wider to private competition and ease limits on foreign investment in what could be China's most significant economic overhaul in at least two decades.     

Detroit: Bankruptcy Plan Will Be Filed Next Week

February 10, 2014 2:13 pm | News | Comments

The city of Detroit says it will file a plan to emerge from bankruptcy next week, just days before a March 1 deadline. Detroit filed for bankruptcy last summer, claiming $18 billion in long-term debt. It recently shared a reorganization plan with creditors, although that plan is subject to change while negotiations occur in private.

U.S. Economy May Be Stuck In Slow Lane For Long Run

February 10, 2014 8:25 am | by Josh Boak, AP Economics Writer | News | Comments

Two straight weak job reports have raised doubts about economists' predictions of breakout growth in 2014. The global economy is showing signs of slowing — again. Manufacturing has slumped. Fewer people are signing contracts to buy homes. Global stock markets have sunk as anxiety has gripped developing nations.

U.S. To Get Approximately $17.2T Debt Limit Friday

February 7, 2014 2:19 pm | by Andrew Taylor, Associated Press | News | Comments

The new cap on borrowing is expected to be about $17.2 trillion. It means Treasury Secretary Jacob Lew will have to employ bookkeeping maneuvers to keep the government functioning until Congress further raises the borrowing limit.    

U.S. Employers Add 113K Jobs; Rate Dips To 6.6 Pct.

February 7, 2014 8:46 am | by Christopher S. Rugaber, AP Economics Writer | News | Comments

The Labor Department says employers added 113,000 jobs, less than the average monthly gain of 194,000 in 2013. This follows December's tepid increase of just 75,000. Job gains have averaged only 154,000 the past three months, down from 201,000 in the preceding three months.

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