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Daily news and top headlines for manufacturing professionals

EU To Cut Back On Meat, Cheese

March 17, 2009 9:28 am | News | Comments

European Commission said economic recession will cause Europeans to cut back on costly beef, lamb and cheese over the next two to three years.

German Economy Sees Signs Of Rebound

March 17, 2009 8:01 am | by George Frey, AP Business Writer | News | Comments

ZEW survey, a key indicator of investor sentiment, suggested Tuesday that Germany's economy may have reached a low point and is poised to start a recovery this summer.

Analyst Says W.R. Grace Knew About Asbestos

March 17, 2009 6:30 am | News | Comments

Former financial analyst for W.R. Grace & Co. has testified that top corporate officials knew products contained asbestos and were concerned about whether it would lead to lawsuits.

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GM Execs Meet With German Economy Minister

March 17, 2009 5:56 am | News | Comments

Karl-Theodor zu Guttenberg said GM executives expressed a willingness to make concessions to keep its beleaguered subsidiary Opel from crashing.

Chrysler CEO Pleased With Auto Task Force Progress

March 17, 2009 5:55 am | News | Comments

Chief Executive Bob Nardelli said he's encouraged by the focus of President Obama's auto task force on job preservation, but added that all options for Chrysler are still being considered.

February Wholesale Prices Edge Up

March 17, 2009 5:45 am | by Martin Crutsinger, AP Economics Writer | News | Comments

Labor Department reported that wholesale prices edged up a slight 0.1 percent in February as a big drop in food costs offset a second monthly increase in energy prices.

Adviser: Bankruptcy Not Goal Of Auto Task Force

March 17, 2009 5:21 am | by Ken Thomas and Tom Krisher, Associated Press Writers | News | Comments

Wall Street financier Steven Rattner said bankruptcy is not the goal of the efforts to restructure GM and Chrysler but stressed the government cannot solve all the industry's woes.

U.S. Labor Secretary: Recession Hard On Women

March 17, 2009 5:00 am | News | Comments

Labor Secretary Hilda Solis says the recession is especially hard on women, who earn less money than men for the same work.

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China Says Importers Also To Blame For Emissions

March 16, 2009 11:50 am | by Dina Cappiello, Associated Press Writer | News | Comments

Chinese official in Washington said that countries importing goods from China should be responsible for cutting the greenhouse gases generated by their production.

French Workers Fight Tire Plant Closure

March 16, 2009 10:55 am | News | Comments

Group of about 1,000 protesters rallied in the city of Reims in northeastern France to try to avert the shutdown of a Continental tire factory in nearby Clairoix.

Judge Denies Broadcom Request On Qualcomm Patents

March 16, 2009 10:20 am | News | Comments

Federal court has dismissed a request by Broadcom to declare some of rival Qualcomm's patents on wireless chips ‘exhausted and unenforceable.’

IPIC Selling Unit For EU Approval Of MAN Deal

March 16, 2009 8:30 am | News | Comments

Abu Dhabi's IPIC will sell off a chemical unit to win EU approval for its purchase of German industrial services company MAN Ferrostaal AG, said European Union regulators.

Industrial Output Falls In February

March 16, 2009 6:10 am | by Martin Crutsinger, AP Economics Writer | Boeing | News | Comments

Federal Reserve reported Monday that industrial output dropped by 1.4 percent last month, slightly worse than the 1.2 percent decline that economists had expected.

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Bernanke Expects Recession To End In 2009

March 16, 2009 5:50 am | by Jeannine Aversa, AP Economics Writer | News | Comments

America's recession ‘probably’ will end this year if the government succeeds in bolstering the banking system, Federal Reserve Chairman Ben Bernanke said Sunday.

China Unveils Rural Auto Purchase Stimulus

March 16, 2009 5:50 am | by Elaine Kurtenbach, AP Business Writer | News | Comments

Beijing intends to spend $730 million on rural vehicle sales subsidies and another $2.93 billion on rebates to farmers for purchases of electrical appliances.

Singapore Economy Expected To Shrink In '09

March 16, 2009 5:30 am | News | Comments

Country's gross domestic product will likely shrink 4.9 percent this year and analysts now expect a severe recession as the global slowdown hurts demand for the city-state’s exports.

Foreign Direct Investments Drop In China

March 16, 2009 5:25 am | News | Comments

Commerce Ministry said Monday that foreign companies invested $5.8 billion in China in February, down 15.8 percent from the same month last year.

OPEC Scolds U.S. For Global Economic Mess

March 16, 2009 5:20 am | by George Jahn, Associated Press Writer | News | Comments

Outspoken comments came a day after oil ministers of OPEC’s 12-nation crude producers' club decided to maintain current production levels.

EU, South Korea Close To Free Trade Deal

March 16, 2009 5:15 am | by Kelly Olsen, AP Business Writer | News | Comments

South Korean official said Monday the two sides are on the verge of concluding a free trade agreement and will try to wrap up the negotiations during two days of talks next week.

China Seeking More Foreign Investment Opportunities

March 16, 2009 5:06 am | News | Comments

Beijing is encouraging Chinese companies to invest more abroad and says it is looking for imports of technology to help make its economy cleaner and more efficient.

China Warns U.S. Not To Devalue Dollar

March 13, 2009 1:04 pm | by Joe McDonald, AP Business Writer | News | Comments

Beijing is Washington's biggest foreign creditor, with an estimated $1 trillion in U.S. government debt, and a weaker dollar would erode the value of those assets.

Kansas Makes Case For Refueling Tankers

March 13, 2009 10:36 am | by John Milburn, Associated Press Writer | Boeing | News | Comments

Congressional delegation from Kansas is wooing Obama administration on behalf of Boeing’s Wichita plant for a new Air Force refueling tanker contract.

U.S. Trade Deficit Falls To $36B In January

March 13, 2009 7:49 am | by Martin Crutsinger, AP Economics Writer | Boeing | News | Comments

Commerce Department said Friday the trade imbalance dropped to $36 billion in January, down 9.7 percent from December and the lowest level since October 2002.

Canadian Economy Loses 83,000 Jobs

March 13, 2009 6:53 am | by Rob Gillies, Associated Press | News | Comments

Canada lost a higher than expected 83,000 jobs in February as the unemployment rate surged to 7.7 percent, the highest level in more than five years.

Dacia Renault Asks For Government Aid

March 13, 2009 5:42 am | News | Comments

French-Romanian carmaker requested $217 million in aid from the Romanian government to support its factory in southern Romania, the company's top official said.

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