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Daily news and top headlines for manufacturing professionals

U.S, China Deal Could End Fees On $1T In Tech Sales

November 11, 2014 5:19 pm | by Marley Jay, AP Business Writer | News | Comments

A trade deal between the U.S. and China could end tariffs on $1 trillion in global sales of semiconductors, MRI machines, GPS devices, printer ink cartridges, video game consoles, and other high-tech items. President Obama, in Beijing for the Asia-Pacific Economic Cooperation...

China Trade Growth Decelerates

November 10, 2014 2:24 pm | by The Associated Press | News | Comments

China's trade growth decelerated in October but still was relatively robust as Chinese leaders try to reverse a deepening economic slowdown. Exports rose 11.6 percent to $206.9 billion, down from September's 18-month high of 15.3 percent growth, trade data showed Saturday. Imports rose 4.6 percent...

Obama: Stronger Ties With China Will Bring Jobs

November 10, 2014 1:57 pm | by USA Today | Videos | Comments

President Obama delivered a speech at an economic summit in Beijing on Monday, saying he wants the United States and China to strengthen ties that could lead to more jobs. He said the U.S. welcomes the rise of a prosperous and stable China...

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China's Xi Says Economy Shifting To Lower Growth

November 8, 2014 11:05 pm | by The Associated Press | News | Comments

Chinese President Xi Jinping says his country's economy is shifting to a "new normal" of slower but more stable growth. Xi also touted the benefits of Chinese development to the world in a speech Saturday to Asian business leaders gathered in Beijing, ahead of an Asia-Pacific...

Ford Replaces EU Boss Amid Losses

November 7, 2014 12:26 pm | by The Associated Press | News | Comments

U.S. carmaker Ford has replaced its European boss amid widening regional losses. Ford announced in a statement Friday that Jim Farley, 52, will take over as head of its European operations, based in Cologne, Germany, replacing Stephen Odell. Odell, 59, will take over Farley's...

European Stocks Up While Asian Markets Down

November 5, 2014 9:57 am | by Youkyung Lee, AP Business Writer | News | Comments

European stocks rose on Wednesday and Wall Street was expected to edge higher on the open, despite losses in Asia. The price of oil continued to decline, however. KEEPING SCORE: Britain's FTSE 100 added 0.9 percent to 6,511.89 and France's CAC 40 climbed 1.4 percent to 4,186.08. Germany's DAX rose...

India To Foreign CEOs: 'We're Waiting For You'

November 5, 2014 9:53 am | by Katy Daigle, The Associated Press | News | Comments

India's finance minister is urging foreign investors to help plug enormous gaps in the country's infrastructure blamed for holding back growth. "We are waiting for you," Arun Jaitley told a roomful of international and Indian CEOs attending the India Economic Summit, one of the World Economic Forum's satellite...

U.S. Trade Deficit Expands In September

November 4, 2014 9:28 am | by Josh Boak, AP Economics Writer | News | Comments

The U.S. trade deficit rose in September, as a broader global economic weakness caused exports to fall. The Commerce Department said Tuesday that the trade deficit rose 7.6 percent to $43 billion in September. That marks the first increase in four months. Economic slowdowns in Europe...

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Manufacturing Surveys Weigh On World Markets

November 3, 2014 9:42 am | by Pan Pylas, AP Business Writer | News | Comments

Global stock markets mostly fell Monday after disappointing manufacturing surveys in China and Europe reinforced concerns over the economic outlook. The Japanese yen continued its slide following last Friday's surprise Bank of Japan stimulus, falling to a seven-year low against...

China Slowdown To Hurt Global Economy

November 3, 2014 9:36 am | by Christopher S. Rugaber, AP Economics Writer | News | Comments

China's roaring economy for years has pulled much of the rest of the world with it, soaking up oil, iron ore, and other commodities from developing countries and autos and luxury goods from Europe. But its role as a global engine is fading as its economy slows — and many other nations, in the...

Johnson & Johnson Innovation Launches Asia Pacific Innovation Center

October 28, 2014 5:25 pm | by The Associated Press | News | Comments

Johnson & Johnson Innovation today announced the opening of the Asia Pacific Innovation Center, located in Shanghai with satellites in Singapore, Australia, and Japan. The Asia Pacific Innovation Center extends the network of Johnson & Johnson Innovation Centers in life sciences hotspots around...

Global Interest Rises As SUVs Shrink

October 27, 2014 10:20 am | by Dee-Ann Durbin, AP Auto Writer | News | Comments

Once a hulking symbol of American excess, sport utility vehicles are quickly becoming the world's favorite way to get around. It's a surprising rebirth for a vehicle that was the subject of obituaries when gas prices spiked in 2008. Automakers won back customers by making smaller, more fuel-efficient SUVs...

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...

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Tragic Fire Exposes Illegal Chinese Factories

October 21, 2014 9:35 am | by Erika Kinetz, The Associated Press | News | Comments

Authorities have raided over 1,900 Chinese factories in the past 6 1/2 years, closing 909 for gross safety and labor violations, and seized 33,427 sewing machines that were not up to code. Sanctioned factories rarely bother to fix those problems, preferring to reopen under a new name...

GE 3Q Profit Rises On Oil, Aviation Strength

October 17, 2014 1:30 pm | by Jonathan Fahey, AP Business Writer | News | Comments

General Electric's third quarter profit rose 11 percent on strong performance from its aviation and oil and gas divisions. GE reported Friday net income of $3.54 billion for the quarter on sales of $36.17 billion. Last year during the same period the company earned $3.19 billion...

Factories In Philadelphia Area Growing More Slowly

October 16, 2014 5:20 pm | by Christopher S. Rugaber - AP Economics Writer | News | Comments

A measure of factory activity in the Philadelphia region slipped last month, but remained at a healthy level, evidence that U.S. manufacturing output is holding up despite signs of a global slowdown. The Federal Reserve Bank of Philadelphia said Thursday that its index of...

AAM: It's Time For Action On China's Exchange Rate

October 16, 2014 3:52 pm | by The Alliance for American Manufacturing | News | Comments

The U.S. Department of Treasury is due to release its semi-annual Report to Congress on International Economic and Exchange Rate Policies on Oct. 15. In its April report, U.S. Treasury Secretary Jack Lew acknowledged China’s continued actions to impede market determination, yet failed to name China as a currency...

Falling Oil Prices Shake Up Global Economies

October 16, 2014 2:25 pm | by Jonathan Fahey, AP Energy Writer | News | Comments

A sudden plunge in the price of oil is sending economic and political shockwaves around the world. Oil exporting countries are bracing for potentially crippling budget shortfalls and importing nations are benefiting from the lowest prices in four years. The global price of oil is...

India Prime Minister Announces Labor Law Reforms

October 16, 2014 10:39 am | by The Associated Press | News | Comments

Indian Prime Minister Narendra Modi announced a series of labor reforms on Thursday aimed at transforming Asia's third-largest economy into an international manufacturing hub. Modi said he wants to overhaul India's archaic labor laws to make it easier to do business in the country, attract...

VW Overtakes GM In Global Sales Race

October 15, 2014 11:10 am | by The Associated Press | News | Comments

Volkswagen edged out General Motors for second place in the global auto sales race during the first three quarters of the year, but Toyota was expected to keep its lead to stay in first place. GM said Wednesday that is sold 7.37 million cars and...

Costco Makes China Market Debut

October 14, 2014 4:50 pm | by The Associated Press | News | Comments

Costco Wholesale Corporation, America’s leading membership-only warehouse club that provides a wide range of quality, brand name merchandise, today announced it will enter China for the first time through the opening of an online flagship...

Lifting Oil Exports Ban Would Boost U.S. Manufacturing

October 14, 2014 3:20 pm | by Manufacturers Alliance for Productivity and Innovation (MAPI) | News | Comments

The manufacturing sector, already a leading component of the U.S. economy, would benefit significantly if the crude oil ban were lifted, according to a new study. This was the finding of a new report, titled Lifting the Curde Export Oil Ban: The Impact on U.S. Manufacturing that was...

Companies Abandon Ambitious Desert Solar Project

October 14, 2014 1:31 pm | by The Associated Press | News | Comments

It sounded like a good idea: build massive solar energy plants in the deserts of North Africa and the Middle East to supply Europe with 15 percent of its electricity needs by 2050. But the consortium behind the ambitious plan has now admitted defeat following disagreements over...

GE Gas Turbines To Help Provide Uninterrupted Power In Iraq

October 14, 2014 11:12 am | by The Associated Press | News | Comments

GE has signed a contract with ENKA to supply power generation equipment for a new 750-megawatt (MW) combined-cycle plant being developed by Qaiwan Group in Iraq. GE will provide four 9E gas turbines and one steam turbine for a new power plant in Sulaimaniyah to...

Growth Slows In China Passenger Vehicle Sales

October 13, 2014 4:43 am | by The Associated Press | News | Comments

Growth in China's car sales slowed again last month while the country's own brands increased their market share. An industry group said Monday that sales of passenger vehicles in the world's biggest auto market rose 6.4 percent in September from a year earlier, slowing from...

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