In 36 states electing governors, it's all about the economy. Governors seeking re-election promised to turn things around. Have they?» Read More
SAO PAULO, July 24- General Motors Co wants to put nearly a fifth of its workers at a factory in Brazil on paid leave, an auto workers union said on Thursday, amid falling output in Latin America's largest economy. General Motors put 940 workers at the same factory on paid leave in 2012, and the union said 598 of them were later fired.
FRANKFURT/ DETROIT, July 24- Ford Motor Co and General Motors Co said on Thursday the crisis in Ukraine has exacerbated a sales slowdown in Russia, but the carmakers said they were on track to turn around their European operations after years of economic instability on the Continent.
DETROIT, July 24- Ford Motor Co one-upped its larger rival General Motors Co in the second quarter, showing a profit in Europe for the first time in three years while GM was weighed down by recall-related costs in the United States.
LANSING, Mich.— Michigan authorities say the state experienced a typical seasonal increase in unemployment in the latest month. The department says June's unemployment rates ranged from a low of 5.7 percent in the Ann Arbor and Grand Rapids regions to a high of 9.2 percent in populous metropolitan Detroit.
Michigan Attorney General Bill Schuette and Dan Wyant, director of the Department of Environmental Quality, said they had put Enbridge Energy Partners LP on notice following the company's acknowledgement it was partly out of compliance with an agreement dating to 1953, when the pipelines were laid in the Straits of Mackinac.
NEW YORK— More teen girls are getting a controversial cervical cancer vaccine but the increase isn't much of a bump, the government reported Thursday. Last year's rise follows a couple of years when the girls' HPV vaccination rate was flat and health officials worried that it wouldn't budge. Anne Schuchat of the Centers for Disease Control and Prevention.
DETROIT— A caravan of Canadians bringing jugs with 1,000 liters of water arrived in Detroit on Thursday afternoon in a symbolic protest against the bankrupt city shutting off water to residents who haven't paid their bills. Eleven vehicles passed through the Detroit Windsor Tunnel under the Detroit River.
LANSING, Mich.— A California company that uses mobile application software to link people needing transportation in Ann Arbor and the Detroit area to drivers is expanding to several other Michigan cities. San Francisco- based Uber says service starts Thursday in Flint, Grand Rapids, Kalamazoo and Lansing.
BLOOMFIELD HILLS, Mich.— PulteGroup Inc. on Thursday reported profit that rose by 15 percent in its second quarter, and fell short of analysts' expectations. The Bloomfield Hills, Michigan- based company said net income increased to $41.9 million, or 11 cents per share, from $36.4 million, or 9 cents per share, in the same quarter a year ago.
WASHINGTON— Applications for U.S. unemployment benefits plunged last week, a sign that the economy is building strength. The Labor Department said Thursday that applications for jobless aid fell 19,000 to a seasonally adjusted 284,000. The fewest people sought benefits since February 2006, almost two years before the start of the Great Recession.
DETROIT, July 24- General Motors Co reported a much lower second-quarter profit on Thursday due to numerous recalls and the expected cost of at least $400 million for a compensation fund for those killed or injured by a defective ignition switch linked to at least 13 deaths.
DEARBORN, Mich., July 24- Ford Motor Co's operating earnings for the second quarter beat Wall Street expectations as better-than-expected profit in North America and Europe countered weaker results in Asia Pacific and South America.
DETROIT— Recall expenses chopped $1.5 billion from General Motors' bottom line in the second quarter, as it added up the costs of repairs for nearly 30 million cars and set aside funds to compensate victims of small-car crashes. Without one-time items GM would have made 58 cents per share, equaling Wall Street's expectations, according to data provider FactSet.
DETROIT, July 24- General Motors Co reported a lower second-quarter profit on Thursday due to numerous recalls and the expected cost of at least $400 million for its victims' compensation fund for those killed or injured by a defective ignition switch linked to at least 13 deaths.
DEARBORN, Mich.— Ford Motor Co. beat Wall Street's expectations in the second quarter as it chalked up a record profit in North America and made money in Europe for the first time in three years. Marketing expenses for new products, like the truck and the Ford Edge in the U.S. and the Mondeo and Focus sedans in Europe, will also take a bite out of earnings.
WASHINGTON, July 23- U.S. regulators and 15 states announced a wave of lawsuits on Wednesday against law firms and mortgage assistance companies they said have scammed borrowers since at least 2011 by falsely promising home loan modifications and other foreclosure relief.
The U.S. appliance maker said its sales in China plummeted 80 percent last quarter as retailers in that country, anticipating its pending merger with Hefei Rongshida Sanyo Electric Co and the new line the merged entity will produce, stopped buying Whirlpool-branded products.
DETROIT— General Motors issued six more recalls on Wednesday, bringing its annual total to 60 recalls covering almost 30 million vehicles.
The public-private partnership includes companies, the University of Michigan, Ohio State University and research institutions. The institute will contribute to economic development in Michigan, Ohio, Indiana, Tennessee and Kentucky over the next five years, according to officials.
WASHINGTON— The Senate voted Wednesday to advance an election-year bill limiting tax breaks for U.S. companies that move operations overseas. The Senate voted 93-7 to begin debating the bill, which would prevent companies from deducting expenses related to moving operations to a foreign country.