Government
Amid Investigation, Coal Exports At Record Levels
April 15, 2013 8:03 am | by Matthew Brown, Associated Press | News | CommentsFrom the time coal is scooped from the depths of the Spring Creek strip mine in Montana's wide-open Powder River Basin until it travels more than 6,000 miles across the Pacific Ocean to power plants in South Korea, the price can increase more than fivefold.
India's Industrial Production Slows
April 12, 2013 2:12 pm | by Kay Johnson, Associated Press | News | CommentsIndia's industrial production slowed in February, highlighting challenges to a recovery in Asia's third-largest economy. The government said Friday that industrial output grew 0.6 percent over the same month the previous year after expanding 2.4 percent in January.
Feds: $5.5M From GM For Pollution In Onondaga Lake
April 12, 2013 2:06 pm | News | CommentsFederal authorities say they've settled the last piece of claims against General Motors Co. for pollution in central New York's Onondaga Lake. U.S. Attorney Preet Bharara says the $5.5 million agreement was reached this week in U.S. Bankruptcy Court with the trust handling the affairs of the automotive company, which filed for Chapter 11 protection in 2009.
FDA Cites Sanitary Issues At Specialty Pharmacies
April 12, 2013 10:19 am | News | CommentsThe Food and Drug Administration says it has uncovered troubling sterility problems at 30 specialty pharmacies that were inspected following a recent outbreak of meningitis caused by contaminated drugs. The agency said its inspectors targeted 31 compounding pharmacies that produce sterile drugs.
U.S. Businesses Boosted Stockpiles Only 0.1 Percent
April 12, 2013 10:14 am | by Christopher S. Rugaber, AP Economics Writer | News | CommentsU.S. companies restocked their shelves at a much slower pace in February than January, a sign they expected consumer and business spending to weaken. The Commerce Department says business stockpiles increased only 0.1 percent in February. That's the smallest gain since June and down from a 0.9 percent increase in January, which was revised slightly lower.
We All Need Google Fiber
April 12, 2013 9:00 am | by Joel Hans, Managing Editor, Manufacturing.net | Blogs | CommentsAlmost a year ago, Google launched its first broadband internet network, Google Fiber, in Kansas City, and is now expanding into Austin, Texas. Meanwhile, the rest of the U.S. languishes with shoddy providers who refuse to innovate. And with Internet a critical part of our business infrastructure, that's just not good enough any more.
Wholesale Prices Drop In March
April 12, 2013 8:38 am | by Martin Crutsinger, AP Economics Writer | News | CommentsA measure of wholesale prices fell by the largest amount in 10 months in March, reflecting a big drop gasoline prices. The Labor Department says its producer price index fell 0.6 percent in March compared with February. In February, wholesale prices had jumped 0.7 percent.
Bill Seeks To Help Manufacturing In Florida
April 11, 2013 2:03 pm | by Bruce Schreiner, Associated Press | News | CommentsA bill touted as a way to boost Florida's manufacturing sector by extending a sales tax break passed its first test in a state House panel Wednesday, overcoming scattered objections that it amounts to a giveaway without guarantees it would stimulate job growth.
2 New Indictments In Cancer-Data-To-China Plot
April 11, 2013 1:49 pm | News | CommentsOnline court records say 42-year-old Hua Jun Zhao was indicted Tuesday on charges of computer fraud and lying to a federal agent. A previous charge of economic espionage was superseded by the indictment, meaning it no longer applies unless he's indicted on that charge as well.
House Committee Approves Pro-Business Cyber Bill
April 11, 2013 12:24 pm | by Anne Flaherty, Associated Press | News | CommentsA House panel voted overwhelmingly Wednesday in favor of a new data-sharing program that would give the federal government a broader role in helping banks, manufacturers and other businesses protect themselves against cyberattacks. It's a defiant move by pro-business lawmakers who say concerns by privacy advocates and civil liberties groups are overblown.
German Leader Welcomes GM Investment
April 11, 2013 12:16 pm | News | CommentsGerman Chancellor Angela Merkel has welcomed General Motors' decision to invest another 4 billion euros ($5.3 billion) in European subsidiary Opel by 2016 as part of an attempt to turn the money-losing division around. Merkel met with GM Chairman and CEO Dan Akerson and other company officials Thursday in Berlin.
Unemployment Aid Applications Plummet To 346K
April 11, 2013 8:47 am | by Christopher S. Rugaber, AP Economics Writer | News | CommentsThe number of Americans seeking U.S. unemployment benefits fell sharply last week to a seasonally adjusted 346,000, suggesting March's weak month of hiring may be a temporary slowdown. The Labor Department says weekly unemployment aid applications fell 42,000 last week, reversing sharp gains over the previous two weeks.
Gov't Sold $621M Worth Of GM Stock In March
April 11, 2013 8:20 am | by Tom Krisher, AP Auto Writer | News | CommentsThe Treasury Department said in its March report to Congress that it sold $621 million worth of GM common stock last month. The report dated Wednesday says the government has recovered about $30.4 billion of the $49.5 billion bailout it gave the Detroit automaker. That means taxpayers are still $19.1 billion in the hole.
ITIF: Budget Enhances Innovation And American Competitiveness
April 10, 2013 5:20 pm | News | CommentsThe Information Technology and Innovation Foundation (ITIF) praised President Barack Obama for focusing on long term investments in research, development and innovation in his annual budget message to Congress. The budget proposal includes a $1 billion appropriation for the creation of the National Network for Manufacturing Innovation.
Union Workers Rally In Support Of Pipeline Project
April 10, 2013 2:24 pm | by Justin Juozapavicius, Associated Press | News | CommentsOrganizers of the rally backing Calgary-based TransCanada's Keystone XL Pipeline said the project would allow the U.S. to tap a key energy source in North America instead of sending its money overseas to import millions of barrels of oil every day.
Obama: Budget Shrinks Deficits And Expands Economy
April 10, 2013 1:59 pm | by Jim Kuhnhenn, Associated Press | News | CommentsPresident Barack Obama says his proposed $3.77 trillion budget for 2014 can shrink federal deficits and expand the U.S. economy. He says: "We can do both." Obama spoke at the White House Wednesday as his administration issued his budget proposal.
NAM: President's Tax Hikes Hurt Competitiveness
April 10, 2013 1:55 pm | News | Comments"The President’s budget is based in the misguided assumption that tax increases can solve our fiscal problems. In fact, a $580 billion tax increase will only fuel the headwinds manufacturers face, making them even less competitive and threatening economic growth and U.S. jobs," says NAM Vice President of Tax and Domestic Economic Policy Dorothy Coleman.
IMF Chief Worries About Pace Of Economic Recovery
April 10, 2013 11:01 am | News | CommentsThe head of the International Monetary Fund said Wednesday the greatest threat to a lasting economic recovery in Europe is "the fatigue of both governments and populations" over painful steps taken to boost growth and combat national debt.
Q&A: Barriers To American Re-shoring
April 10, 2013 10:54 am | by Joel Hans, Managing Editor, Manufacturing.net | Articles | CommentsThe skills gap comes not from one fold — lack of students finding incentive in getting these skills, and then a lack of desire in the manufacturing companies to train. Our incentive structure, from the government’s perspective, it’s largely focused on being a tax-based incentive. I think it should be more training-centric.
Canada: Pipeline Rejection Would Mar Relations
April 10, 2013 10:54 am | by Rob Gillies, Associated Press | News | CommentsPremier Alison Redford said in a telephone interview with The Associated Press that the issue would keep coming up. Redford is in Washington for her fourth trip to lobby on behalf of a pipeline that Canada sees as critical to its economic well -being.
Employers Eager For New Foreign Worker Program
April 10, 2013 10:22 am | by Sam Hananel, Associated Press | News | CommentsThe new W visa program would admit 20,000 low-skilled foreign workers starting in 2015 and could gradually grow up to a cap of 200,000 after five years. The number of visas would fluctuate, depending on unemployment rates, job openings, employer demand and other data.
China And California Sign Deal To Boost Investment
April 10, 2013 10:11 am | News | CommentsBrown and the California business executives he is traveling with on the seven-day mission are keen to attract more Chinese investment. Brown, however, is acknowledging there are limits to the incentives the state will make, telling American executives that keeping the state's budget in balance is a priority.
Virginia, Utah Mount Joint Raid On Calif. Jobs
April 10, 2013 8:32 am | by Michael R. Blood, Associated Press | News | CommentsThe governors of Utah and Virginia want the Golden State to export more of something else: jobs. To make that pitch to California businesses, Utah's Gary Herbert and Virginia's Bob McDonnell, both Republicans, have scheduled joint stops beginning Thursday in Orange County, Silicon Valley and San Francisco.
China Recovery Dogged By Doubt As Data Questioned
April 10, 2013 8:23 am | by Joe McDonald, AP Business Writer | News | CommentsExports probably are lower than reported, based on what is known about shipments into Hong Kong, which Beijing lists as its biggest trading partner, said Francis Lun, chief economist of GE Oriental Financial Group. Hong Kong is Chinese territory but is treated as a separate customs region.
Obama Sends Congress $3.77T Spending Plan
April 10, 2013 6:57 am | by Martin Crutsinger, AP Economics Writer | News | CommentsPresident Barack Obama is sending Congress a $3.77 trillion spending blueprint that seeks to achieve an elusive "grand bargain" to tame runaway deficits by raising taxes further on the wealthy and trimming popular benefit programs such as Social Security.
