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Daily news and top headlines for manufacturing professionals

Chrysler Debtholders, U.S. Treasury Reach Deal

April 28, 2009 7:55 am | by Stephen Manning, AP Business Writer | News | Comments

Person familiar with the talks says Treasury Department has reached a tentative agreement with four of Chrysler's major debtholders as the automaker races to stave off bankruptcy.

U.S. Slams Russia's Move To Ban American Meat

April 28, 2009 7:41 am | News | Comments

Amid fears of swine flu, Russia widened a ban on meat imports from Mexico and some U.S. states, prompting objections from the United States.

Germany's Inflation Rate Rises In April

April 28, 2009 6:20 am | News | Comments

Annual inflation rate in Germany, Europe's biggest economy, edged up to 0.7 percent in April after hitting a 10-year low the previous month.

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Mayor Hopeful In Face Of GM Cuts

April 28, 2009 6:05 am | News | Comments

Marion, Ind., mayor has presented the city’s General Motors plant with a performance-based incentive plan that he hopes will protect it from new cutbacks.

Canada Sees Rise In Employment Insurance Claims

April 28, 2009 6:02 am | News | Comments

Statistics Canada says claims for Employment Insurance in February jumped 18.6 percent, more than any month since comparable data began to be compiled in 1997.

Government Could Create Leaner GM

April 28, 2009 5:20 am | by Tom Krisher, AP Auto Writer | News | Comments

GM will become a leaner, government-owned company if the Obama administration goes along with the automaker's plan to slash jobs, close plants, and drop Pontiac.

New Labor Department Rules Aimed At Worker Safety

April 28, 2009 5:20 am | by Sam Hananel, Associated Press Writer | News | Comments

Labor Department official says two industries are the focus of new safety rules being proposed by the government in an effort to step up worker-safety regulations.

GM To Cut 21,000 Jobs, Drop Pontiac

April 27, 2009 8:05 am | by Kimberly S. Johnson, AP Auto Writer | News | Comments

Automaker will cut 21,000 U.S. factory jobs by next year, phase out Pontiac brand and ask U.S. government to take company stock in exchange for half its government debt.

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Obama Promises Record R & D Investment

April 27, 2009 6:05 am | News | Comments

President promising major investment in research and development, with the goal of spending 3 percent of the nation's gross domestic product on scientific innovation.

EU Approves Canadian Trade Talks

April 27, 2009 5:59 am | by Constant Brand, Associated Press Writer | News | Comments

Amid rising protectionism, European Union will officially launch negotiations with Canada on a free trade pact on May 6.

Chrysler Fights For Survival With New Labor Deals

April 27, 2009 5:55 am | by Tom Krisher, AP Auto Writer | News | Comments

Automaker cleared two major hurdles in its quest for survival, reaching a concession agreement with United Auto Workers and a cost-cutting deal with Canadian Auto Workers.

Chrysler CEO Trying To Save Jobs

April 27, 2009 5:44 am | by Tom Krisher, AP Auto Writer | News | Comments

Chief Executive Nardelli said Monday that management's No. 1 priority is to preserve Chrysler and the livelihoods of its 54,000 employees.

Qualcomm Settles Broadcom Suit For $891M

April 27, 2009 5:35 am | News | Comments

Chip maker will pay Broadcom $891 million over four years to settle a longstanding dispute over patents and royalties.

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U.S. Group Urges China To Avoid Protectionism

April 27, 2009 5:22 am | by Joe McDonald, AP Business Writer | News | Comments

American business lobby appealed to Beijing to avoid protectionism and warned efforts to build up Chinese companies in domestic industries might shut out foreign competitors.

Japanese Economy To Shrink Over 3 Percent

April 27, 2009 5:06 am | by Jay Alabaster, Associated Press Writer | News | Comments

Japan's economy likely to shrink 3.3 percent this year, its worst contraction since World War II, the Cabinet said as exports and production continue to fall.

Report: Bankruptcy Won't Hurt Fiat-Chrysler Deal

April 27, 2009 4:55 am | by Colleen Barry, AP Business Writer | News | Comments

Fiat still wants to pursue an alliance with Chrysler even if the U.S. automaker is forced to file Chapter 11 bankruptcy protection, a source said Monday.

Senators Want 'Orderly' Chrysler Bankruptcy

April 24, 2009 1:15 pm | News | Comments

With Chrysler appearing increasingly likely to seek bankruptcy protection, members of Congress are calling for an orderly process that saves the company from liquidation.

GM Gets $2 Billion From Treasury Department

April 24, 2009 10:43 am | News | Comments

Treasury Department said it lent the additional money to GM to provide working capital as the automaker tries to restructure and avoid bankruptcy court.

Fiat Shocked By EU Official's Comments

April 24, 2009 10:15 am | by Colleen Barry, AP Business Writer | News | Comments

Head of Fiat Group said he was "astounded" by remarks from European Union's industry commissioner expressing skepticism about the Italian automaker's ability to afford acquisitions.

Report: Coke, Huiyuan In Talks After Failed Takeover

April 24, 2009 10:14 am | by Emily Fredrix, AP Food Industry Writer | News | Comments

Wall Street Journal reported Coca-Cola and the Chinese fruit juice maker were in talks again for a smaller deal, which could be more appealing to regulators.

Durable Goods Orders Better Than Expected

April 24, 2009 8:05 am | by Martin Crutsinger, AP Economics Writer | News | Comments

Commerce Department said Friday that orders for big-ticket manufactured goods dropped 0.8 percent in March, about half the decline that economists expected.

Germany Consults Washington On GM

April 24, 2009 7:54 am | News | Comments

Team of German officials trying to glean U.S. government plans for General Motors amid reports Fiat is in talks to buy GM's European operations, which includes Germany's Opel.

G-8 Business Leaders Vow To Fight Protectionism

April 24, 2009 6:05 am | News | Comments

Business leaders from the Group of Eight nations wrapped up their two-day meeting after adopting a statement opposing trade protectionism and any move to raise tariffs on imports.

Caterpillar CEO Praises China's Stimulus

April 24, 2009 5:55 am | by Donna Borak, AP Business Writer | News | Comments

Chief exec of heavy equipment maker reiterated his support of China's plans to get money into the global economy faster than President Obama's $787 stimulus package.

UK Car Production Falls 51 Percent

April 24, 2009 5:26 am | News | Comments

Car production in Britain was down 51.3 percent in March compared to a year ago, and production for the first four months of the year fell 56.6 percent, an industry group said.

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