If it succeeds, the city’s cost-cutting hybrid pension plan could be a model for solving government budget crises across the country.» Read More
WASHINGTON— U.S. employers accelerated their hiring last month, adding a robust 288,000 jobs and helping drive the unemployment rate to 6.1 percent, the lowest since September 2008.
MEXICO CITY— Germany's BMW announced Thursday it will spend $1 billion to build a new luxury car factory in northern Mexico that will start production in 2019 as part of an effort to expand the company's presence in the United States.
WASHINGTON, July 3- Airlines with direct flights to the United States have been told to tighten screening of mobile phones and shoes in response to intelligence reports of increased threats from al Qaeda affiliated militant groups, U.S. officials said.
NEW YORK— Go ahead and open the latest quarterly statements from your mutual funds when they arrive. It'll likely be painless, just like it was a quarter ago. It's been largely the same trend for years, with only a few hiccups since the stock market bottomed in March 2009 following the financial crisis.
DETROIT— Subaru is recalling more than 660,000 cars and SUVs because the brake lines can rust and leak fluid, and that can mean it will take longer to stop the vehicles.
WASHINGTON, July 2- The United States said on Wednesday it would increase security at overseas airports with direct flights into the country and U.S. officials cited concerns al Qaeda operatives in Syria and Yemen were developing bombs that could be smuggled onto planes.
WASHINGTON, July 2- The Obama administration is pushing for increased security precautions at European airports because of concerns that al Qaeda operatives in Syria and Yemen have teamed up to develop bombs that can be smuggled onto planes, U.S. officials said on Wednesday.
DETROIT— The U.S. government's road safety agency is accusing Chrysler of moving too slowly to fix some Jeep SUVs in a recall announced more than a year ago.
WASHINGTON, July 2- A U.S. Senate panel's probe into General Motors Co's botched handling of faulty ignition switches that have been tied to at least 16 fatal car crashes will continue with a second hearing on July 17.
DETROIT, July 2- Ford Motor Co said on Wednesday its new chief executive officer, Mark Fields, will receive a 9 percent increase in his base salary, as well as stock options and a performance-based bonus.
DETROIT— New Ford CEO Mark Fields will get a pay package worth more than $5.25 million this year as he takes over for the retiring Alan Mulally. Ford revealed a portion of Fields' compensation Wednesday in a filing with the U.S. Securities and Exchange Commission. For 2014, he'll get a $1.75 million base salary, plus $3.5 million in incentive compensation.
General Motors Co bucked Wall Street's low expectations as well as negative publicity over a flood of safety recalls, reporting a 1 percent rise in U.S. sales in June. He added that GM's sales remain strong in part because consumers focus on brand names such as Chevrolet and Buick rather than the corporate name " General Motors."
DETROIT— General Motors issued a new round of recalls for faulty ignition switches this week, but the company says the problem is different than the ignition switch defect that sparked recalls in February. At the same time, Chrysler is recalling vehicles for a similar ignition switch defect.
DETROIT— For more than a year, a lawsuit filed by Brooke Melton's family has caused major migraines for General Motors. Litigation over the 29- year-old nurse's death was settled by GM last October. GM has hired Kenneth Feinberg to settle hundreds of death and injury claims from crashes caused by the switches.
The recall, announced Tuesday, comes after a five-month spat between Graco and the National Highway Traffic Safety Administration. Graco argued that infant seats are used differently, and in an emergency, an adult can remove the whole seat rather than using the buckle.
Rick Snyder on Monday finished signing a $53.2 billion state budget that commits to spending 6 percent more than this year, largely because of Michigan's new expansion of Medicaid eligibility to more low-income adults and anticipated higher tax collections in an improved economy.
DETROIT— The last time George Talley saw his beloved 1979 Chevrolet Corvette was when he parked it on Jefferson Avenue in Detroit in 1981..
DETROIT, July 1- Major automakers reported better-than-expected U.S. sales in June, capping a strong second-quarter comeback from a brutal winter, but some companies displayed signs of softening demand for their most popular models.
NEW YORK, July 1- The S&P 500 hit a record high on Tuesday after data showing U.S. manufacturing accelerated even if at a slightly slower rate, and as China's factory sector expanded in June for the first time in six months.
DETROIT, July 1- General Motors Co bucked Wall Street's low expectations and negative publicity over a flood of safety recalls, reporting a modest rise in U.S. sales in June. Chrysler Group and Nissan Motor Co also reported year-to-year increases on Tuesday. They, along with Ford Motor Co, topped analysts' expectations.