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Daily news and top headlines for manufacturing professionals

GM Shares Hit Lowest Level Since Depression

May 12, 2009 8:07 am | by Tom Krisher, AP Auto Writer | News | Comments

Shares of General Motors tumbled to $1.09, their lowest level since 1933, as investors feared significant dilution of their stock values or bankruptcy ahead of a government deadline.

German Gov’t Meets With Opel Worker Reps

May 12, 2009 8:05 am | News | Comments

Government's economy minister met with worker representatives from GM’s Opel unit, with both sides urging potential buyers to produce solid plans quickly.

Raytheon Wins $521M Air Force Contract

May 12, 2009 6:15 am | News | Comments

Air Force awarded Raytheon a contract for 105 medium range air-to-air missiles that are carried by fighter planes and other equipment such as training missiles.

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Wash. State Wants Mexico Trucking Dispute Resolved

May 12, 2009 5:55 am | by Shannon Dininny, Associated Press Writer | News | Comments

Mexico has raised tariffs on almost 90 American products, a retaliation for a U.S. decision to cancel access to Mexican truckers on U.S. highways.

IMF Says European Recession To Last Into 2010

May 12, 2009 5:09 am | by Pan Pylas, AP Business Writer | News | Comments

Europe's severe economic downturn likely to last until the second half of 2010 or longer if governments across the region don't do more to shore up financial institutions.

Actor Danny Glover Shows Support For Labor

May 11, 2009 10:54 am | News | Comments

Veteran actor and social activist joined labor, political and civil rights leaders on one of the first stops of a four-day, 11-state tour supporting U.S. manufacturing workers.

Official: U.S. To Ramp Up Antitrust Investigations

May 11, 2009 10:11 am | by Devlin Barrett, Associated Press Writer | News | Comments

Assistant Attorney General Christine Varney says the Justice Department is going to more aggressively investigate big companies that improperly dominate markets.

N.C. City Calls For Dell To Report Job Losses

May 11, 2009 9:01 am | News | Comments

Media report said Dell has made two rounds of layoffs at its Forsyth County, N.C. operations in the past two months, but hasn't said how many jobs were cut.

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U.S. Budget Deficit To Top $1.8 Trillion

May 11, 2009 8:05 am | by Andrew Taylor, Associated Press Writer | News | Comments

Economy performing worse than hoped, with government borrowing almost 50 cents for every dollar it spends this year.

U.S. Trade Chief Says Beef Deal With EU Near

May 11, 2009 6:07 am | Airbus, Boeing | News | Comments

Long-running trade clash over hormone-treated beef is almost resolved and could pave the way for an end to other disputes between the world's two biggest economic powers.

Senator: Obama Should Ask For Trade Authority

May 11, 2009 5:52 am | by Anna Jo Bratton, Associated Press Writer | News | Comments

President has yet to ask Congress for trade promotion authority, which was designed to speed the reduction of trade barriers and open new markets with other countries.

Experts: GM Bankruptcy 'Inevitable'

May 11, 2009 5:05 am | by Tom Krisher, AP Auto Writer | News | Comments

Automaker has until June 1 to complete a restructuring plan that involves swapping $27 billion in debt for its risky stock, which may prove too difficult for GM.

W.R. Grace Acquitted In Asbestos Case

May 8, 2009 1:36 pm | by Susan Gallagher, Associated Press Writer | News | Comments

Company and three former executives were acquitted of federal charges they knowingly allowed residents in Montana to be exposed to asbestos from its vermiculite mine.

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Auto Suppliers Call For More Federal Aid

May 8, 2009 10:55 am | by Ken Thomas, Associated Press Writer | News | Comments

Trade group urged lawmakers to provide financial assistance to parts suppliers, saying they could be forced out of business by General Motors and Chrysler factory shutdowns.

China, EU Push For Global Trade

May 8, 2009 10:41 am | by Aoife White, AP Business Writer | News | Comments

European Union and China called for global trade talks to finally strike a deal that could reverse falling demand and help pull their economies out of recession.

Federal Auto Recovery Director Tours Michigan Plants

May 8, 2009 8:10 am | by Kathy Barks Hoffman, Associated Press Writer | News | Comments

White House official appointed to help communities hit by the ailing auto industry toured a plant in Flint where General Motors will build engines for the new Chevrolet Volt.

Layoffs Decline As Unemployment Hits 8.9 Percent

May 8, 2009 8:05 am | by Jeannine Aversa, AP Economics Writer | News | Comments

Pace of layoffs slowed in April when employers cut 539,000 jobs -- fewest in 6 months -- but unemployment rate climbed to 8.9 percent, highest since 1983.

Wholesale Inventories Fall Nearly 2 Percent

May 8, 2009 6:26 am | by Martin Crutsinger, AP Economics Writer | News | Comments

Commerce Department says wholesale inventories dropped 1.6 percent in March, much larger than the 1 percent fall that analysts had expected.

Germany, Fiat Discuss Opel Bid

May 8, 2009 5:40 am | News | Comments

Fiat CEO Sergio Marchionne is meeting with the governors of two key German states as part of his bid to take over General Motors' Opel subsidiary.

Obama Promises More Help To Unemployed

May 8, 2009 5:22 am | by Darlene Superville, Associated Press Writer | News | Comments

President outlining steps Friday to help the jobless pursue education and training, and keep their unemployment benefits, too.

Canada, Russia At Odds Over Pork Ban

May 8, 2009 5:20 am | by Alison Mutler, Associated Press Writer | News | Comments

Trade minister said Canada may take action against Russia if it keeps import restrictions on Canadian pork, adding he would prefer to resolve the problem through discussions.

German Exports Fall 16 Percent

May 8, 2009 5:14 am | News | Comments

Germany's exports in March were down nearly 16 percent to $94.2 billion compared with year-ago levels as the recession bit into demand.

Missouri Governor Urges Incentives For Battery Makers

May 8, 2009 5:05 am | by Andale Gross, Associated Press Writer | News | Comments

Governor advises state lawmakers to pass an economic development plan he said would help Missouri become a force in the battery production industry.

FDA Nominee Promises To Revamp Food Safety

May 7, 2009 1:46 pm | by Ricardo Alonso-Zaldivar, Associated Press Writer | News | Comments

Dr. Margaret Hamburg says she wants to restore public confidence in the Food and Drug Administration by putting science first and running an open and accountable operation.

Canada Forcing CAW To Reach Agreement With GM

May 7, 2009 12:22 pm | by Charmaine Noronha, Associated Press Writer | News | Comments

Canadian Auto Workers said federal and Ontario governments pressing union and GM to reach cost-cutting labor agreement or risk losing government assistance and liquidation.

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