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Detroit said it would stop making some debt payments and asked creditors to accept pennies on the dollar to help it avoid the largest municipal bankruptcy filing in US history.
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Oct 24- Victims of a deadly U.S. meningitis outbreak are starting to sue the physicians and clinics that administered tainted steroid shots, and the success of the suits could hinge on whether judges decide the injections are subject to product liability or medical malpractice laws.
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DETROIT-- Arts groups in Detroit will share nearly $20 million donated by the John S. and James L. Knight Foundation, including $9 million to be awarded through a communitywide contest to boost the city's best arts ideas, the foundation announced Tuesday.
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MIDLAND, Mich.-- Shares of Dow Chemical jumped 6 percent in premarket trading Wednesday after the company announced significant restructuring plans.
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DETROIT-- Goodyear Tire& Rubber Co. faced a challenging third quarter in a sputtering economy, and its results could reflect that when they are released before the markets open on Friday.
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*Dow Chemical to cut 2,400 jobs, close 20 plants. NEW YORK, Oct 23- Dow Chemical Co, the largest chemical maker in the United States, said on Tuesday it plans to cut 5 percent of its workforce and shutter 20 plants as part of a restructuring program aimed at countering a slowing global economy.
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NEW YORK, Oct 23- Dow Chemical Co, the largest chemical maker in the United States, said on Tuesday it plans to cut 5 percent of its workforce and shutter 20 plants as part of a restructuring program aimed at countering a slowing global economy. Rival DuPont slashed its earnings forecast and announced 1,500 jobs cuts.
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PARIS-- The extent of the European car industry's troubles was laid bare Wednesday, when France's government tossed a financial lifeline to the continent's No. 2 automaker, Peugeot Citroen, and Ford said it would shut a plant in Belgium, cutting 9,500 jobs.
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The national average for a gallon of gas has dropped 13 cents in the past week to $3.625. That's the biggest weekly decline since the 7- day period ended Nov. 28, 2008, according to Oil Price Information Services analyst Fred Rozell. Rozell says gas has averaged $3.65 so far this year, 10 cents above the record set in 2011..
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*DuPont, 3 M, United Tech, UPS miss revenue forecasts. *DuPont, 3 M Co cut profit forecasts.
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MIDLAND, Mich.-- The Dow Chemical Co. will eliminate about 2,400 jobs and close roughly 20 manufacturing facilities as part of a restructuring plan aimed at coping with slowing economic growth in Europe and elsewhere.
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*DuPont, 3 M, United Tech, UPS miss revenue forecasts. *DuPont, 3 M Co cut profit forecasts. DuPont and United Tech are by no means the only big U.S. companies to begin cutting jobs.
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*Asbury plans to repurchase $25 M- $30 M of stock per year. Oct 23- U.S. auto dealership groups Sonic Automotive Inc and Asbury Automotive Group Inc posted higher third-quarter adjusted earnings as vehicle sales rose and costs stayed about flat.
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LANSING, Mich.-- Nearly two dozen community health centers in Michigan are getting funding from the U.S. Health Resources and Services Administration. The Michigan Department of Community Health announced Tuesday that the money for 22 centers aims to enhance the quality of care and allow more women to be screened for cervical cancer.
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Nearly half of all robberies in San Francisco this year are cell phone-related, police say, and most occur on bustling transit lines. And, in nearby Oakland, City Council candidate Dan Kalb was robbed at gunpoint of his iPhone Wednesday after he attended a neighborhood anti-crime meeting.
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WASHINGTON-- Unions are shifting more of their political resources to state and local races this year as they try to head off passage of laws that could undermine bargaining rights, make it harder to organize or reduce their political muscle. In Maine and Minnesota, labor leaders hope to overturn Republican majorities in state legislatures.
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WASHINGTON-- Unions are shifting more of their political resources to state and local races this year as they try to head off passage of laws that could undermine bargaining rights, make it harder to organize or reduce their political muscle. In Maine and Minnesota, labor leaders hope to overturn Republican majorities in state legislatures.
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CRAZY WEATHER: Warm spring weather in the Northeast and Midwest tricked apple trees into budding early this year, and then a late frost damaged the blossoms. CROPS CRIMPED: Crops in apple-producing states like New York and Michigan shrank, falling off as much as 90 percent.
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But times are tough for unions in the Rust Belt, even in a longtime bastion like Michigan.
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DETROIT-- The National Highway Traffic Safety Administration is investigating complaints that children have been trapped in Graco car seats because the buckles won't unlatch.
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