BUSINESS
May 3, 2012 | By Christopher S. Rugaber
WASHINGTON - Demand for US factory goods dropped in March by the most in three years, driven lower by a sharp fall in volatile orders for commercial aircraft. Still, more recent data suggest the decline may be temporary. The Commerce Department said Wednesday that orders for factory goods fell 1.5 percent. That was the steepest decline since March 2009, when the economy was mired in recession. Orders rose 1.1 percent in February. A key reason for the drop was aircraft orders plummeted nearly 50 percent.
BUSINESS
May 3, 2012 | Tom Krisher and Dee-Ann Durbin, AP Auto Writers
Strong sales in North America and China are generating big profits for General Motors. Now the company needs the rest of the world to play along. GM's net income totaled $1 billion in the first quarter as it sold more vehicles at higher prices in the U.S. But the earnings fell 69 percent from a year earlier. The reasons: Big one-time charges and high operating costs in Europe, and lackluster earnings in South America. For GM to continue its rebound from bankruptcy three years ago, it needs Europe and South America to improve, especially if North American...
NEWS
April 18, 2012 | By Maria Sacchetti
Federal immigration officials granted a one-year stay of deportation Tuesday to a Honduran woman suffering from postpartum depression, more than five years after she was arrested at a massive factory raid in New Bedford. Lessy Noelia Ramos, a 27-year-old mother of two, had tried to fight deportation, but lost her case in Boston immigration court in 2009 and again on appeal last year. She was to prepare for her departure Wednesday by reporting to US Immigration and Customs Enforcement in Burlington with an airplane ticket and her...
NEWS
April 7, 2012 | Sharon Cohen, AP National Writer
When Bruce Cochrane's family furniture company became an empty factory, he wouldn't drive by the building, even though it was just a short ride from home. There were just too many memories of what was — and what he was sure would never be again. Five generations of Cochranes had been furniture makers, starting with his great-great grandfather, William, who built church pews in the 1850s. By the mid-1990s, though, the long, proud family tradition appeared to be at an end. Like so many other American industries, the furniture trade was moving to China, land of cheap...
BUSINESS
April 6, 2012
Ford will expand its biggest factory complex in China to meet growing demand in the world's largest car market. The $600 million expansion will include a new assembly line, body shop and paint shop at its Chongqing site in southwestern China, Ford said Thursday. Chongqing is the company's largest manufacturing operation outside of the Detroit area. Ford is trying to catch up with rivals who have been in China longer and command a bigger share of sales. The expansion will give the automaker the ability to make 350,000 more vehicles per year, increasing its...
BUSINESS
April 4, 2012
WASHINGTON - Businesses ordered more machinery and equipment from US factories in February, a signal that many are investing in their companies despite the expiration of a tax credit. Orders to US factories increased 1.3 percent in February, the Commerce Department said. That offset a similar decline in January. Demand for so-called core capital goods, a gauge of business investment plans, rose 1.7 percent. That was better than the government's preliminary estimate last week and followed a steep drop in January.