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Top News & Analysis Michigan

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  • Aug 20- Two U.S. senators on Thursday called on Japanese auto supplier Takata Corp to immediately recall all vehicles containing the company's air bags, a demand that could affect more than 50 million cars on U.S. roads. Senators Richard Blumenthal and Edward Markey, both Democrats, serve on a Senate panel that has been investigating problems with Takata air bags...

  • DETROIT, Aug 20- Republican presidential candidate Marco Rubio said on Thursday his plan to overhaul the U.S. tax code would help revitalize struggling manufacturing centers like Detroit, allowing companies to raise wages and workers to keep more of their paychecks. Speaking to the Detroit Economic Club, the senator from Florida said Detroit, which filed the...

  • Aug 20- Two U.S. senators on Thursday called on Japanese auto supplier Takata Corp to immediately recall all vehicles containing the company's air bags. Senators Richard Blumenthal and Edward Markey, both Democrats, serve on a Senate panel that has been investigating problems with Takata air bags that can rupture and spew metal shards at vehicle occupants.

  • WASHINGTON, Aug 20- U.S. home resales rose to a near 8-1/ 2- year high in July and factory activity in the mid-Atlantic region picked up this month, fresh signs of steady economic growth that likely keeps the Federal Reserve on track to raise interest rates this year. "We continue to expect both economic growth and labor market activity to continue shifting higher,...

  • All part of the ongoing collapse in industrial metal prices as the market collectively downgrades its views on China. Aluminum's prospects look particularly bleak given a backdrop of high legacy stocks and structural over capacity in China, which is pumping out ever more surplus metal into the international market in the form of semi-fabricated products.

  • Aug 19- Detroit's post-bankruptcy debut in the U.S. municipal bond market on Wednesday resulted in hefty yields for $245 million of bonds, signalling that investors remain skeptical of the city's recovery. The bonds earned an investment-grade A rating from Standard& Poor's largely based on a Michigan law that placed a specific statutory lien on Detroit...

  • All part of the ongoing collapse in industrial metal prices as the market collectively downgrades its views on China. Aluminium's prospects look particularly bleak given a backdrop of high legacy stocks and structural over capacity in China, which is pumping out ever more surplus metal into the international market in the form of semi-fabricated products.

  • DETROIT, Aug 18- Most Buick vehicles sold in the United States after 2016 could be imported from China and Europe, according to two sources familiar with parent General Motors Co's plans. Production of the mid-size Regal sedan is likely to shift from Canada to either China or Europe in 2017, they added. Buick is also planning to add two new U.S. models from overseas...

  • BERLIN, Aug 14- Volkswagen is recalling about 461,300 cars in the United States and Canada to fix a fault that could prevent air bags from deploying. The recall comes as the German group struggles to overcome underperformance in the United States, where the sale of VW-branded cars plunged 10 percent to 367,000 last year, less than half its ambitious target of...

  • LONDON, Aug 14- You don't hear so much about the load-out queues in the London Metal Exchange's warehouse system these days. It's not that the queues to take delivery of aluminum from Detroit and Vlissingen have disappeared. As of the end of last month the waiting time at Detroit was still 328 days and that at the Dutch port 327 days.

  • The MAC Global Solar Energy index has dropped 36 percent since its 2015 high in April, with industry bellwether SunEdison Inc having lost 55 percent of its value since July 20. SunRun Inc, one of the top residential solar installers, went public last week at $14 a share and closed Thursday at $10.12. Hood River Capital Management of Portland began shedding its...

  • MANILA, Aug 14- Gold backed further away from a three-week high early on Friday but was still set to end a seven-week losing streak after China's yuan devaluation pushed investors out of equities and into safe-haven assets. Speculation that the weaker yuan could delay a U.S. interest rate hike this year also benefited gold although China's central bank said...

  • DETROIT, Aug 13- General Motors Co is boosting production of its highly profitable large SUVs and trucks to a pace that could result in 48,000 to 60,000 additional vehicles for the 2016 model year, in a bid to capitalize on rising demand, sources told Reuters. GM's Arlington, Texas, plant that makes full-sized sport utility vehicles including the Cadillac...

  • States from Alabama to West Virginia that oppose the Obama administration's Clean Power Plan filed for the stay in the U.S. Court of Appeals for the D.C. Circuit and asked for a ruling by Sept. 8, one year before states need to submit compliance plans to the EPA. "This rule is the most far-reaching energy regulation in the nation's history, and the EPA simply does not...

  • NEW YORK, Aug 13- Retail gasoline prices in Midwest states have jumped as much as 33 cents in a week and could top $3 a gallon as soon as next week as the impact of an unexpected shutdown of a key unit at the region's biggest refinery shows up at the pump, motorist advocacy group AAA said on Thursday. While national prices for regular gasoline have been flat this week and...

  • LOS ANGELES, Aug 12- Shunfeng International Clean Energy Ltd said it will take a majority stake in U.S. solar panel manufacturer Suniva to gain a foothold in the fast-growing U.S. solar market. The deal will give the Hong Kong- based solar company 63 percent of Suniva, a privately held maker of solar cells and modules whose investors include Goldman Sachs Group Inc....

  • Trump's China attack ignores what charts say Wednesday, 12 Aug 2015 | 4:50 PM ET

    Beijing handed the Republican presidential hopeful more ammunition to rail against China when it devalued the yuan on Tuesday, and Trump did not miss a chance. Short-term events aside, though, data shows China's yuan has in fact been strengthening over the last 10 years, dramatically so. Over the last decade, the trade-weighted yuan index, a measure of its value...

  • United Steelworkers union president Leo Gerard said: " Washington has been asleep at the switch in dealing with China" and called for action against " China's predatory practices" before more U.S. jobs were lost. That state's Republican and Democratic senators both criticized China's devaluation and linked it to the Trans Pacific Partnership trade talks, even...

  • Ford moves commercial truck production to Ohio from Mexico Wednesday, 12 Aug 2015 | 12:01 AM ET

    DETROIT, Aug 12- Ford Motor Co on Wednesday will start building its medium-duty F-650 and F-750 commercial trucks at a Cleveland- area plant, moving production out of Mexico for the first time. The shift to the 41- year-old plant in Avon Park, Ohio means that about 1,000 workers represented by the United Auto Workers union will keep their jobs, Jimmy Settles, UAW vice...

  • Aug 11- Kansas' planned sale of $1 billion in pension obligation bonds will not do much to help the state solve problems in its poorly funded pension plans, according to a report released by Moody's Investors Service Tuesday. Debt service on the bonds is subject to annual appropriation, meaning that Kansas' legislature must decide each year whether to allot money...