In 36 states electing governors, it's all about the economy. Governors seeking re-election promised to turn things around. Have they?» Read More
WASHINGTON— Undercover investigators using fake identities were able to secure taxpayer-subsidized health insurance under President Barack Obama's health care law.
July 23- Momentum is building toward a deal that would make painful losses inevitable for investors holding about $20 billion in bonds issued by Puerto Rico's highway, water and electricity authorities even as some big U.S. mutual funds launch a legal battle to squelch a new law that authorizes a restructuring.
SYDNEY, July 23- Brazil's BTG Pactual has received a green light from the London Metal Exchange to set up warehousing operations in Singapore, marking the investment bank's first foray into Asia as builds out its physical metals business.
WASHINGTON— Congressional investigators using fake identities were able to obtain taxpayer-subsidized health insurance under President Barack Obama's law, according to testimony to be delivered Wednesday.
DEARBORN, Mich.— Ford's luxury Lincoln division is getting a new president. Kumar Galhotra, Ford's vice president of engineering, will become president of Lincoln on Sept. 1. Ford's global marketing chief, Jim Farley, led Lincoln for the last 18 months.
DETROIT— The ignition switch defects that engulfed General Motors are now a rapidly growing problem at Chrysler. Chrysler said Tuesday it is recalling up to 792,300 older Jeep SUVs worldwide because the ignition switches could fall out of the "run" position, shutting off the engine and disabling air bags as well as power-assisted steering and braking.
WASHINGTON— The Environmental Protection Agency's fight to clean up water pollution got a splash of pop culture Tuesday, thanks to an Internet flub involving reality TV star Kim Kardashian.
DEARBORN, Mich.— Ford says its aluminum-sided F-150 pickup will hold its own against rivals despite its lighter weight. The company revealed details of the new truck Tuesday. The 2015 F-150 4 x4 goes on sale this fall and is 732 pounds lighter than the outgoing model.
July 22- Detroit will head into the critical phase of its historic bankruptcy case next month with the backing of an overwhelming majority of its active and retired workers and with opposition from a small, hard-core group of hold-out creditors.
LANSING, Mich.— Michigan on Tuesday approved state incentives for nine economic development projects expected to bring about 3,900 jobs, nearly half from General Motors consolidating engineering jobs from outside the state at a site in Michigan.
Documents filed in U.S. Bankruptcy Court show the city's current and retired police and fire employees, along with other active and retired city workers, will accept benefit cuts to help Detroit shed some of its $18 billion of debt in the largest-ever U.S. municipal bankruptcy case.
Jackson- based CMS Energy Corp. announced the plans Tuesday, saying it's a part of an effort to diversify the use of renewable energy by Consumers Energy. The utility says Beaver Creek Farms in Coopersville, Brook View Dairy in Freeport, Green Meadow Farms in Elsie and Scenic View Dairy in Fennville were selected.
DETROIT— A year after filing for bankruptcy, Detroit is building momentum to get out, especially after workers and retirees voted in favor of major pension changes just a few weeks before a judge holds a crucial trial that could end the largest public filing in U.S. history.
Microsoft makes design central to its future. Before Ralf Groene helped devise the look and feel of Microsoft's Surface tablet, he designed food— or "food concepts," he says, such as dried noodles that come wrapped around a pair of chopsticks and a fork that squeezes out sauce.
The Sierra Club and several other groups are challenging the May ruling by the Michigan Department of Environmental Quality, which changed the permit for a Dearborn plant owned by Severstal. Severstal was awarded an air permit in 2006 to increase production and to install a new blast furnace and additional air pollution control equipment.
DETROIT— Detroit suspended its aggressive policy of cutting off water to customers with unpaid bills on Monday, the latest response to a controversy that has prompted large protests and caught the attention of the judge overseeing the city's bankruptcy.
NEW YORK— Russian steel company Severstal is exiting the U.S. market, selling a pair of steel plants to AK Steel and Steel Dynamics for about $2.33 billion. Steel Dynamics Inc. said Monday that it will pay about $1.63 billion for Severstal Columbus, which is located in northeast Mississippi.
DETROIT— Workers and retirees approved pension cuts in Detroit's bankruptcy, the city announced Monday, a crucial step to emerging from the largest municipal insolvency in U.S. history.
July 21- Steel Dynamics Inc will buy Severstal's mini-mill in Columbus, Michigan for $1.62 billion in cash, and AK Steel will buy the Russian steelmaker's assets in Dearborn, Michigan for $700 million in cash. Last month, CEO Alexey Mordashov said that selling the U.S. assets could help decrease Severstal's debt and make the company a lot more profitable.
July 21- Steel Dynamics Inc will buy Severstal's Columbus mini-mill for $1.62 billion in cash, and AK Steel will buy the Russian steelmaker's assets in Dearborn, Michigan for $700 million in cash. AK Steel said the deal also included a cokemaking facility and interests in three joint ventures that process flat-rolled steel products.