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Top News & Analysis Michigan

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  • Some Midwest farmers' crops falter in record rains Saturday, 1 Aug 2015 | 10:55 AM ET

    The 48- year-old central Indiana farmer can't recall anything like the deluges he's seen from late May on this summer; the latest was a 4- inch downpour a week ago. It's a scene playing out in Illinois and Indiana, both of which set rainfall records for June, and four other key farm states. The Midwestern Regional Climate Center in Champaign, Illinois, is looking into...

  • Pacific trade round ends in deadlock Saturday, 1 Aug 2015 | 9:33 AM ET
    Protest against the TTP trade agreement outside the U.S. Trade Representative's office in Washington.

    The U.S. and 11 Pacific nations failed to reach a trade agreement, with talks on the largest regional trade agreement ever ending in deadlock.

  • DETROIT— Fiat Chrysler is recalling more than 322,000 sedans worldwide because side air bags can inflate if doors are slammed too hard. The recall covers certain Dodge Chargers from the 2011 to 2014 model years, mainly in the U.S. and Canada. Earlier this month, more than 843,000 Dodge Ram pickup trucks were recalled for the same problem.

  • Puerto Rico to miss debt payment, signalling default Friday, 31 Jul 2015 | 8:10 PM ET
    The Puerto Rican flag flies near the Capitol building as the island's residents deal with the government's $72 billion debt on in San Juan, Puerto Rico

    Puerto Rico will miss a debt repayment Saturday, the government confirmed, as one of the largest ever US municipal debt restructurings beckons.

  • WASHINGTON, July 31- The cybersecurity issues that led Fiat Chrysler Automobiles NV to recall 1.4 million vehicles this month could pose a problem for cars and trucks from other automakers, the top U.S. auto safety regulator said on Friday. Mark Rosekind, who heads the National Highway Traffic Safety Administration, said his watchdog agency is trying to...

  • Business events scheduled for the coming month Friday, 31 Jul 2015 | 1:40 PM ET

    WASHINGTON— Commerce Department releases personal income and spending for June, 8:30 a.m.; Institute for Supply Management releases its manufacturing index for July, 10 a.m.; Commerce Department releases construction spending for June, 10 a.m.. WASHINGTON— Commerce Department releases factory orders for June, 10 a.m.. WASHINGTON— Commerce Department...

  • NEW YORK, July 31- Puerto Rico on Friday planned to cover a payment due on debt owed by its development bank, a source familiar with the matter said, but the U.S. territory may still be short of the funds needed to pay all of the obligations due on Saturday. But Puerto Rico is expected to default on a $58 million payment on Public Finance Corporation bonds due Saturday...

  • The surprisingly smaller rise reported by the Labor Department on Friday did little to temper expectations that the Federal Reserve is set to raise interest rates later this year. This is precisely how the Fed will interpret this report, even if the numbers here are atrocious, "said Eric Green, chief economist at TD Securities in New York. The Employment Cost...

  • Puerto Rico Governor Alejandro Garcia Padilla shocked investors in June when he said the island's debt- totaling $72 billion- was unpayable and required restructuring. Puerto Rico has flagged that it will likely skip a $58 million payment due Aug. 1 on its Public Finance Corporation debt, which has weaker investor protection than some other bonds.

  • WASHINGTON— U.S. consumer sentiment slipped this month but remains at healthy levels, the University of Michigan said Friday. But recent headlines about financial volatility in Greece and China may have left consumers with a less positive outlook after moderate increase last month. " On Tuesday, the Conference Board, a business research group, said its consumer...

  • American Axle beats 2Q profit forecasts Friday, 31 Jul 2015 | 8:18 AM ET

    DETROIT _ American Axle& Manufacturing Holdings Inc. on Friday reported second-quarter profit of $58.6 million. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 72 cents per share. American Axle shares have declined slightly more than 6 percent since the beginning of the year.

  • Puerto Rico Governor Alejandro Garcia Padilla shocked investors in June when he said the island's debt- totaling $72 billion- was unpayable and required restructuring. Puerto Rico has flagged that it will likely skip a $58 million payment due Aug. 1 on its Public Finance Corporation debt, which has weaker investor protection than some other bonds.

  • Taubman reports 2Q results Thursday, 30 Jul 2015 | 7:18 PM ET

    BLOOMFIELD HILLS, Mich. _ Taubman Centers Inc. on Thursday reported a key measure of profitability in its second quarter. The Bloomfield Hills, Michigan- based real estate investment trust said it had funds from operations of $47.9 million, or 76 cents per share, in the period. The average estimate of eight analysts surveyed by Zacks Investment Research was for...

  • BOSTON/ DETROIT, July 30- A researcher is advising drivers not to use a mobile app for General Motors Co's OnStar vehicle communications system, saying hackers can exploit a security flaw in the product to unlock cars and start engines remotely. Kamkar released the video a week after Fiat Chrysler Automobiles recalled some 1.4 million vehicles after hacking...

  • BOSTON/ DETROIT, July 30- A researcher is advising drivers to halt the use of a mobile app for General Motors Co's OnStar vehicle communications system, saying hackers can exploit a security flaw in the product to remotely unlock cars and start engines. "White-hat" hacker Samy Kamkar posted a video on Thursday saying he had figured out a way to "locate, unlock and...

  • Business events scheduled for the coming week Thursday, 30 Jul 2015 | 1:40 PM ET

    WASHINGTON— Commerce Department releases personal income and spending data for June, 8:30 a.m.; Institute for Supply Management releases its manufacturing index for July, 10 a.m.; Commerce Department releases construction spending for June, 10 a.m.. WASHINGTON— Commerce Department releases international trade data for June, 8:30 a.m.; Institute for Supply...

  • Sun Communities reports 2Q results Thursday, 30 Jul 2015 | 10:31 AM ET

    SOUTHFIELD, Mich. _ Sun Communities Inc. on Thursday reported a key measure of profitability in its second quarter. The average estimate of three analysts surveyed by Zacks Investment Research was for funds from operations of 83 cents per share. Sun Communities expects full-year funds from operations in the range of $3.62 to $3.72 per share.

  • ITC beats 2Q profit forecasts Thursday, 30 Jul 2015 | 10:09 AM ET

    NOVI, Mich. _ ITC Holdings Corp. on Thursday reported second-quarter earnings of $72.3 million. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 51 cents per share. This story was generated by Automated Insights using data from Zacks Investment Research.

  • Hercules recalling 90,000 SUV tires Thursday, 30 Jul 2015 | 9:10 AM ET

    DETROIT— An Ohio company is recalling about 90,000 SUV tires because the tread can separate, causing a loss of air and increasing the risk of a crash. The recall covers certain 15- and 16- inch Hercules Tire& Rubber Co. All Trac A/T tires made from June of 2008 to May of 2010.. The recall came after an attorney notified the National Highway Traffic Safety...

  • MILAN— Fiat Chrysler Automobiles on Thursday raised its revenue forecast after strong sales in North American and a recovery in the European market boosted second-quarter profits by 70 percent. The company said in a presentation to analysts Thursday that it didn't expect the Ram buyback offer to cost more than $20 million. Fiat Chrysler reported its net...