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Daily news and top headlines for manufacturing professionals

South Korean Exports Hit 7-Year Low

December 1, 2008 4:05 am | by Kelly Olsen, AP Business Writer | News | Comments

South Korea's exports fell in November by the most in nearly 7 years, the government said, while automakers took steps to cut production as demand slumps.

Sweden In Talks To Help Saab, Volvo

December 1, 2008 4:04 am | by Malin Rising, Associated Press Writer | News | Comments

Swedish government confirmed Monday it is in talks with GM and Ford after a report that the U.S. automakers are seeking support for their struggling Swedish brands.

Chinese Manufacturing Shrinks In November

December 1, 2008 3:56 am | by Joe McDonald, AP Business Writer | News | Comments

China's manufacturing activity contracted sharply as a downturn in the world's fourth-largest economy worsened, raising the threat of job losses.

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Jobless Claims Drop More Than Expected

November 26, 2008 12:30 pm | by Christopher S. Rugaber, AP Economics Writer | News | Comments

New jobless claims fell more than expected last week from a 16-year high, the government said, though they remain at elevated levels due to the slowing economy.

Consumer Spending Declines In October

November 26, 2008 5:30 am | by Martin Crutsinger, AP Economics Writer | News | Comments

Commerce Department reported that consumer spending plunged by 1 percent last month, even worse than the 0.9 percent decline that had been expected.

Durable Goods Orders Plunge In October

November 26, 2008 5:20 am | by Martin Crutsinger, AP Economics Writer | News | Comments

Orders for big-ticket manufactured goods fell 6.2 percent, the largest amount in two years as manufacturing was battered by overall economic weakness.

Economic Reports Show Bleak Outlook

November 26, 2008 5:18 am | by Martin Crutsinger, AP Economics Writer | News | Comments

Government says jobless claims remain at recessionary levels, while Americans cut back on their spending by the largest amount since 2001 and factory orders plummeted.

Germany Faces 'Year Of Bad News' In 2009

November 26, 2008 4:18 am | by Geir Moulson, Associated Press Writer | News | Comments

Europe's biggest economy fell into recession and the government recently slashed its 2009 growth forecast to 0.2 percent, but many economists now expect negative growth.

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EU Proposes $250 Billion Economic Stimulus Plan

November 26, 2008 4:08 am | by Robert Wielaard, Associated Press Writer | News | Comments

European Commission wants to combat the growing slowdown with a $256.22 billion stimulus plan to boost growth and confidence among consumers and businesses.

Former Agriprocessors CEO To Be Arraigned

November 26, 2008 4:00 am | News | Comments

Sholom Rubashkin, the former head of the embattled kosher slaughterhouse, is scheduled to be arraigned on federal immigration charges.

Congress Wants Sacrifices From Automakers

November 26, 2008 3:50 am | by Tom Krisher and Ken Thomas, Associated Press Writers | News | Comments

List of job cuts and commitments to fuel-efficient cars won't be enough when U.S. automakers get another shot to persuade Congress to give them $25 billion in loans.

FDA: Melamine Found In U.S. Baby Formula

November 26, 2008 3:44 am | by Martha Mendoza and Justin Pritchard, Associated Press Writers | News | Comments

Traces of the industrial chemical melamine have been detected in samples of top-selling U.S. infant formula, but federal regulators insist the products are safe.

Economy Shrinks In Third Quarter

November 25, 2008 5:00 am | by Alan Zibel, AP Business Writer | News | Comments

Commerce Dept. reports economy shrank more than expected in the third quarter, further proof the country is almost certainly in the throes of a painful recession.

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China, U.S. Discuss Economic Risks

November 25, 2008 4:16 am | by Gillian Wong, Associated Press Writer | News | Comments

Top officials from China and the U.S. will meet for high-level economic talks next week in Beijing as both countries grapple with the worst global downturn in decades.

Iowa Wants Agriprocessors Bankruptcy Case

November 25, 2008 4:15 am | by Amy Lorentzen, Associated Press Writer | News | Comments

Bankruptcy case for a kosher meatpacking company accused of labor violations at its Iowa plant should be heard in that state, Iowa's labor commissioner said.

Apple Sued Over iPhone Patent Infringement

November 25, 2008 4:10 am | News | Comments

EMG Technology filed a lawsuit that alleges Apple infringed on a patent that involves the way the iPhone navigates the Internet.

Oregon Looks To Become Electric Car Leader

November 25, 2008 3:50 am | News | Comments

Fresh from his Asian trade mission, Gov. Ted Kulongoski said that Oregon could be a prime market for the region's electric-only cars.

Obama Plans $500B Economic Rescue Package

November 25, 2008 3:48 am | by Julie Hirschfeld Davis, Associated Press Writer | News | Comments

Congressional Democrats and President-elect laying groundwork for quick enactment of a two-year economic rescue package that will total about a half-trillion dollars.

Bush Meets With Paulson On Economic Crisis

November 24, 2008 12:30 pm | by Jennifer Loven, AP White House Correspondent | News | Comments

President gathering with Treasury chief and other Cabinet members Monday to talk about U.S. response to global economic crisis, including a rescue of Citigroup.

Obama Begins To Set Economic Course

November 24, 2008 5:30 am | by Beth Fouhy, Associated Press Writers | News | Comments

Eager to calm economic anxieties, Obama is rolling out an economic vision that will require congressional cooperation even before he settles into the White House.

U.K. Economy To Shrink 1.5 Percent

November 24, 2008 5:29 am | News | Comments

Britain's economy will shrink by 1.5 percent next year and unemployment could reach 2.5 million in 2010, up from the current 1.8 million, a London think tank predicted.

Associated Press: Gov't Pays For Deadly Drugs

November 24, 2008 5:08 am | by Ricardo Alonso-Zaldivar and Frank Bass, Associated Press Writers | News | Comments

Dozens of deaths have been linked to medications that have never been reviewed by the government for safety and effectiveness but are still covered under Medicaid, AP said.

1979 Chrysler Loan Guarantee Offers Lessons To Big 3

November 24, 2008 4:55 am | by Ken Thomas, Associated Press Writer | News | Comments

When Chrysler teetered on the brink of bankruptcy, it spent months building support for a $1.5 billion loan guarantee that helped save it and tens of thousands of jobs.

German Business Confidence At 15-Year Low

November 24, 2008 4:55 am | by George Frey, AP Business Writer | News | Comments

Business confidence in Europe's biggest economy fell to a 15-year low in November as worries about the economy mounted amid the global economic crisis.

Lawmakers: Detroit Will Show They're Worth Helping

November 24, 2008 4:45 am | News | Comments

Leading Democrats expect U.S. automakers will show Congress next month they are worth rescuing and are capable of returning to global pre-eminence.

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