The company that manufactures Black Hawk helicopters said Friday it is eliminating 600 jobs, most of them in Connecticut, as it struggles with cuts to U.S. defense spending and a reduction in the demand for the workhorse aircraft used by the military to strike targets and ferry troops in Iraq and Afghanistan.
Lydall, Inc. (NYSE:LDL), today announced that it has acquired the industrial filtration businesses of Andrew Industries Limited, an Altham, United Kingdom-based corporation, for $83 million in cash. The acquired business consists of operations in the United States, the United Kingdom, and China, and approximately 500 employees.
Still, the government did not issue the red alert. Beijing's alert system requires a forecast of three days in a row of severe pollution for the highest level. Days of extreme pollution or polluted skies that are expected to clear in less than three days do not trigger the most stringent measures.
Turkey's military has taken delivery of its first Boeing-made surveillance aircraft, part of a $1.5 billion project to modernize its air force. The first of four so-called AWACs — airborne early warning and control aircraft — was brought into the Turkish Air Force in a ceremony in the city of Konya on Friday.
The Himalayan kingdom of Bhutan has tapped Nissan Motor Co. to supply electric cars for its taxis and government fleet, hoping to reduce reliance on imported oil. Under the agreement announced Friday, Nissan will supply its Leaf electric car and set up charging stations in Bhutan.
PlayStation stands out among the long list of famous Sony brands as one that hasn't faded or succumbed to a nimbler competitor. Months after hitting global markets, the latest version of the video-game console is going on sale at midnight in Tokyo, a big shift from times when Sony was ascendant enough to launch flagship products in Japan first.
The Delaware Supreme Court on Thursday upheld the dismissal of a lawsuit filed by the widow of an Argentine national who claimed he was exposed to asbestos at a DuPont textile plant in the South American country.
An $800 million Honda plant opening Friday in the central state of Guanajuato will produce about 200,000 Fit hatchbacks a year, helping push total Mexican car exports to the U.S. to 1.7 million in 2014, roughly 200,000 more than Japan, consulting firm IHS Automotive says.
A weakening in the Japanese yen over the past year has failed to boost exports as much as hoped while imports of oil and gas, food and other products have surged. Consumers and businesses are thought to be stepping up purchases ahead of an April 1 sales tax hike.
Toshiba Corp. said Thursday it will spend hundreds of billions of yen by the business year ending March 2018 on mergers and acquisitions to expand its health care business, as part of efforts to make the area a new pillar of its management.
Highly radioactive water has overflowed from a storage tank at Japan's crippled nuclear power plant, but the operator says it did not reach the Pacific Ocean. The operator, Tokyo Electric Power Co., said Thursday that the leak involved partially treated water from early in the crisis, meaning it was more toxic than previous leaks.
China's economic activity has slowed steadily as the government tries to reduce reliance on investment in industry and infrastructure and encourage more sustainable growth based on domestic consumption. HSBC economist Hongbin Qu said that the buildup of pressure for prices to fall "implies that the underlying momentum for manufacturing growth could be weakening."
The leaders of the three NAFTA nations met Wednesday in Mexico in part to highlight the economic cooperation that has grown since NAFTA joined the U.S., Canada and Mexico 20 years ago. But all eyes, including Madero's, were on one key area that NAFTA didn't touch: energy.
Overall prices are barely budging because the economy is still weak. And the reverse may be true, too: Super-low inflation has likely slowed growth from the United States to Japan to Europe. It's why the world's central banks would like prices to rise.
The European Space Agency says it plans to launch a satellite to hunt for planets outside our solar system by 2024. ESA says the mission will be called PLATO, short for Planetary Transits and Oscillations of stars. The satellite will be equipped with 34 telescopes and cameras trained on 1 million nearby stars to search for tell-tale signs of orbiting planets.
Loss-making French carmaker PSA Peugeot Citroen is getting a 3 billion euro lifeline backed by Chinese investors and the French government in a deal that will see the company's founding family hand over control after more than two centuries at the helm.
On a hilltop of the Jordanian capital, a museum with some of the world's most unique cars and motorbikes recounts a century of the ruling Hashemite dynasty's elegant lifestyle. The Royal Automobile Museum was built in 2003 under instructions from King Abdullah II, specifically to pay tribute to the eventful life of his late father.
U.S. Secretary of State John Kerry on Sunday called climate change perhaps the world's "most fearsome" destructive weapon and mocked those who deny its existence or question its causes, comparing them to people who insist the Earth is flat.
Infant formula maker Mead Johnson Nutrition Co. says its Chinese subsidiary may have violated U.S. and local laws, including anti-bribery statutes. The company says some promotional spending violated its own policies, and it may have also broken the Foreign Corrupt Practices Act and local laws.
The Czech brewery Budvar says a Portuguese trade court has ruled that it will have the exclusive rights to the Budweiser trademark in the country, canceling the rights owned by rival Anheuser-Busch InBev. State-owned Budejovicky Budvar NP has been fighting with Anheuser-Busch for over a century over use of the Budweiser name.
Without solid numbers, many have assumed that most of the offshored jobs go to developing countries where workers are paid near-poverty wages in less than ideal working conditions. However, the researchers said public fear that offshoring to lower-cost countries is putting downward pressure on U.S. jobs may be overblown.
Carlsberg says beer sales are likely to fall this year in western Europe and Russia, but continue to grow in Asia. The Copenhagen-based group says its fourth-quarter net sales fell slightly to 15.7 billion kroner ($2.9 billion) as overall beer volumes dropped 3 percent.
It follows a culture shift in the country that invented the automobile, where cars were once commonly described as the Germans' "favorite child." Excellent public transport, high fuel prices and a strong environmental movement mean that for many Germans the car has become an expendable accessory, or at worst an expensive liability.
Regulators are investigating whether U.S. technology companies Qualcomm and InterDigital violated China's anti-monopoly law by charging excessive fees for patent licenses, a government spokesman said Wednesday.
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.