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A gauge of future economic activity rose in November, at the fastest pace since March, suggesting the economy will strengthen early next year.
The Conference Board said its index of leading economic indicators rose 1.1 percent last month — the biggest increase since March, when the index jumped 1.4 percent. Get the full story »
United Auto Workers members at Mitsubishi Motors North America’s plant in Downstate Normal ratified a new contract Thursday that includes wage cuts the union has said could determine the fate of the facility and its 1,300 jobs.
Seventy-seven percent of the union workers who voted on the deal approved it, UAW local President Ralph Timan said. He declined further comment, including providing any details about the deal. Get the full story »
Think, the Norwegian electric vehicle maker, has started production of the City at its plant in Elkhart, Ind.
The company plans to build 300 Think City electric cars there by year-end and some 2,500 in 2011. Get the full story »
Deere & Co., the world’s largest maker of agricultural equipment, will invest $50 million in a new manufacturing plant in China to make construction equipment. Get the full story »
U.S. factory output grew for the fifth straight month in November, adding to evidence that manufacturing remains an engine of growth.
The Federal Reserve said Wednesday that output by the nation’s factories, utilities and mines increased 0.4 percent last month, after falling 0.2 percent in October. Get the full story »
Illinois Tool Works Inc. reported an 11-percent sales increase in the three months through November, citing strength in markets like welding, electronics and automotive. The company, whose products include industrial fasteners and professional kitchen equipment, reiterated a prior outlook calling for per-share profit from continuing operations of 74 cents to 82 cents for the fourth quarter and $2.99 to $3.07 for the full year. Get the full story »
Bloomberg News | Snowstorms that closed roads in the Midwest and Canada delayed parts delivery and reduced or halted production at seven GM and Ford plants, including the Chicago Assembly Plant.
Nissan Motor Co. and Mitsubishi Motors Corp. said Tuesday that they will supply more models to each other and explore jointly developing vehicles as they look to spark sales in the sagging Japanese market and to meet increasing demand in emerging markets.
The two Japanese carmakers said that Nissan will provide a light van and upper-end sedans to Mitsubishi Motors to broaden its lineup in the domestic market, while Mitsubishi will provide a sport-utility vehicle model to Nissan to enhance its growing SUV segment in the Middle East. Get the full story »
Honda Motor Co. will notify about 1,200 owners of 2011 Accords and CR-Vs of possible engine oil leaks due to a manufacturing problem, a company spokeswoman said Monday.
The automaker also has notified dealers that some 5,000 2011 Accords and 4,300 2011 CR-Vs on dealer lots must be inspected for the part involved, spokeswoman Gina Cappelletti said. Get the full story »
Navistar International Corp. said Friday that it has received a $123 million order from the U.S. Marine Corps Systems Command to deliver 175 armored International MaxxPro Dash vehicles. Get the full story »
From the Peoria Journal Star | Caterpillar CEO Doug Oberhelman said Friday that he had a health scare more than two years ago, and is now going public with his health issues to influence others — including within Caterpillar — to manage their health.
In this April 26, 2010 file photo, Transportation Secretary Ray LaHood, left, accompanied by. Sen. Christopher Dodd, second from left, get off an Amtrak train in Hartford, Conn. (AP Photo/Jessica Hill, File)
The Obama administration is taking $1.2 billion in high-speed rail money away from Ohio and Wisconsin and awarding it to other states, Transportation Secretary Ray LaHood said Thursday.
Both Ohio and Wisconsin have elected incoming Republican governors who oppose the rail projects. So LaHood said he is awarding their money to rail projects in states that are eager to have it.
High-speed trains will not only improve transportation but reinvigorate manufacturing and put people back to work in jobs that pay well, LaHood predicted in a statement. Get the full story »
Aircraft suppliers Rockwell Collins and Goodrich said on Thursday they could gain new business as a result of this week’s announcement that EADS unit Airbus would upgrade its A320 plane with better engines that offer 15 percent fuel savings.
Airbus, the world’s largest plane maker, said it would spend roughly $1.3 billion to improve efficiency of the narrowbody aircraft. Its main rival Boeing is also mulling whether to upgrade its competing 737 plane. Get the full story »
After racking up strong earnings growth in 2010, major U.S. manufacturers are expect to set the stage for a slower-paced 2011 when they meet with analysts and investors to lay out their expectations for the coming year.
Heavyweight industrials including Illinois Tool Works, General Electric, United Technologies Corp, 3M Co., Honeywell International and Danaher are all set to provide 2011 forecasts in the coming weeks.
Profit margins across the sector swelled this year as companies that cut costs to the bone during the brutal recession experienced a rebound in sales that helped the Standard & Poor’s capital goods industry index to rise about 14 percent, more than twice the gains of the broader U.S. stock market. Get the full story »
