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  • DETROIT, Jan 22- Johnson Controls Inc on Thursday posted a higher-than-expected quarterly profit and said it expected higher order rates for the rest of its fiscal year. In October, Johnson Controls said it would earn 74 cents to 77 cents a share. Milwaukee- based Johnson Controls said it still expected a full-year profit of $3.55 to $3.70 a share, excluding...

  • DETROIT, Jan 22- Johnson Controls Inc on Thursday posted a higher-than-expected quarterly profit and affirmed its fiscal-year outlook. Net income rose 12 percent to $507 million, or 76 cents a share, in the first quarter ended Dec. 31 from $451 million, or 69 cents a share, a year earlier. In October, Johnson Controls said it would earn 74 cents to 77 cents a share.

  • Flagstar Bancorp posts 4Q profit Thursday, 22 Jan 2015 | 6:51 AM ET

    TROY, Mich. _ Flagstar Bancorp Inc. on Thursday reported fourth-quarter net income of $11.1 million. Flagstar Bancorp shares have increased nearly 5 percent since the beginning of the year. Keywords: Flagstar Bancorp, Earnings Report.

  • ATLANTIC CITY, N.J.— In naming an emergency manager for Atlantic City on Thursday, New Jersey Gov. Neither man would say whether a Detroit-style bankruptcy filing is in store for Atlantic City, calling such talk premature. But the emergency order Christie issued gives Lavin the power "to place the finances of Atlantic City in stable condition on a long-term basis...

  • Cleanup is underway after nearly 3 million gallons of brine, a salty, toxic byproduct of oil and natural gas production, leaked from a pipeline in western North Dakota, the largest spill of its kind in the state since the current energy boom began. Operator Summit Midstream Partners LLC detected the pipeline spill on Jan. 6, about 15 miles north of Williston and...

  • The Brookings Institution and JPMorgan Chase ranked 300 major cities worldwide for economic performance last year.

  • WASHINGTON, Jan 21- Most U.S. states expect to hit their revenue targets this fiscal year, but at least six states say they could fall short, the National Conference of State Legislatures said on Wednesday. Alaska, Arizona, Kentucky, Massachusetts, Michigan, and Vermont all expect to miss their revenue forecasts, according to the report. New Mexico and Indiana are...

  • Low gas prices, incentives change math for electric cars Wednesday, 21 Jan 2015 | 4:57 PM ET

    U.S. gas prices have fallen more than $1 per gallon over the last 12 months, to a national average of $2.06, according to AAA. Incentives averaged $4,159 per electric car last year, up 68 percent from 2013, according to Kelley Blue Book. The discounting, combined with new vehicles such as the BMW i3, the electric Kia Soul and the Mercedes B Class, boosted sales of...

  • State's jobless rate off 0.4 points to 6.3 percent Wednesday, 21 Jan 2015 | 2:49 PM ET

    LANSING, Mich.— Michigan's seasonally adjusted unemployment rate continued its rapid decline last month, falling 0.4 percentage points to 6.3 percent and its lowest level in 12 years, the state said Wednesday. Michigan's unemployment rate is still higher than the national average, which fell 0.2 points to 5.6 percent in December. "Michigan continued to display...

  • Nearly 3 million gallons of saltwater generated by oil drilling have leaked from a North Dakota pipeline, an official said Wednesday, the largest such spill since the state's current oil boom began and nearly three times worse than previous record spills. Operator Summit Midstream Partners LLC detected the pipeline spill on Jan. 6, about 15 miles north of...

  • Snyder promotes trades training after State of the State Wednesday, 21 Jan 2015 | 12:19 PM ET

    Rick Snyder on Wednesday promoted apprenticeships in the skilled trades, saying Michigan must re-establish career technical education as a viable alternative to a four-year college degree in its bid to fill in-demand jobs. The Republican governor spent the morning after his fifth State of the State speech at a Lansing- area molding and machining...

  • UPDATE 1- Volvo names new U.S. chief as sales decline Wednesday, 21 Jan 2015 | 10:18 AM ET

    He will report to Volvo CEO Hakan Samuelsson. "Volvo is not only in the U.S. to stay, it is in the U.S. to prosper." Volvo faces an uphill battle in the U.S. market, the world's second largest behind China, given the product onslaught from the German luxury automakers BMW and Daimler's Mercedes, the renaissance at Toyota Motor Corp's Lexus brand and the turnaround efforts...

  • Volvo names new U.S. sales chief as sales decline Wednesday, 21 Jan 2015 | 9:22 AM ET

    He will report to Volvo CEO Hakan Samuelsson. "Volvo is not only in the U.S. to stay, it is in the U.S. to prosper." Volvo faces an uphill battle in the U.S. market, the world's second largest behind China, given the product onslaught from the German luxury automakers BMW and Daimler's Mercedes, the renaissance at Toyota Motor Corp's Lexus brand and the turnaround efforts...

  • Toyota remains top in global vehicle sales, beats VW, GM Wednesday, 21 Jan 2015 | 12:12 AM ET

    TOKYO— Toyota Motor Corp. stayed at the top in global vehicle sales in 2014, taking that auto industry crown for the third year straight, but was less upbeat about this year. The Japanese automaker sold 10.23 million vehicles, beating out Volkswagen and General Motors. Detroit- based General Motors Co. was third at 9.92 million vehicles, a company record and 2...

  • TOKYO— Toyota stayed top in global sales at 10.23 million vehicles in 2014, taking that auto industry crown for the third year straight. But in the numbers released Wednesday, Toyota Motor Corp. was less upbeat about the future. Volkswagen AG of Germany has said it sold 10.14 million vehicles in 2014. Detroit- based General Motors Co. was third at 9.92 million...

  • Jan 20- A former Toronto stockbroker failed to persuade a U.S. appeals court in Philadelphia to overturn his fraud conviction and 25- year prison sentence for causing more than $55 million of losses in an international stocks scam. A federal jury in February 2010 convicted Georgiou, now 45, of securities fraud, wire fraud and conspiracy over trades in Avicena...

  • GARDEN, Mich.— The first wind farm in Michigan's Upper Peninsula has reduced the property values of nearby residents, ruined people's sleep and put bats, eagles and other birds at risk, according to a lawsuit filed in federal court. Eleven people and a group representing others who own property are suing Heritage Sustainable Energy and the U.S. government, seeking...

  • Ford Mustang goes global with first shipment to China Tuesday, 20 Jan 2015 | 11:17 AM ET

    DETROIT— The Ford Mustang is on its way to China. Ford says its first shipload of around 100 Mustangs has left Portland, Oregon, and is headed to China. The Explorer SUV and Lincoln MKC are also sold in China.

  • Mercantile Bank misses Street 4Q forecasts Tuesday, 20 Jan 2015 | 6:21 AM ET

    GRAND RAPIDS, Mich. _ Mercantile Bank Corp. on Tuesday reported fourth-quarter profit climbed by 22 percent to $6.3 million. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 40 cents per share. Analysts expected $29.1 million, according to Zacks.

  • The Republican governor, weeks into his second four-year term, said in his fifth State of the State address that he will issue an executive order merging the Community Health and Human Services agencies into a new Department of Health and Human Services. "The system is failing folks," he said during a joint night session of the Legislature inside the House chamber.