GRAND RAPIDS, Mich. _ Steelcase Inc. on Wednesday reported fiscal first-quarter profit of $17 million. For the current quarter ending in September, Steelcase said it expects revenue in the range of $865 million to $890 million. Steelcase shares have climbed slightly more than 2 percent since the beginning of the year.
DETROIT— A former employee hacked into computers at Tesla's Nevada battery factory, stole confidential information and combined it with falsehoods in leaks to the media, the electric car maker alleged in a federal lawsuit. The suit was filed Wednesday, three days after CEO Elon Musk warned employees of sabotage from within the company. Martin Tripp of Sparks,...
CONCORD, N.H.— A New Hampshire hospital is closer to holding others financially accountable for a traveling medical technician who infected dozens of patients in multiple states with hepatitis C. Despite being fired numerous times over drug allegations, he had worked as a cardiac technologist in 18 hospitals in seven states before being hired in New...
The annual survey by J.D. Power finds that buyers reported a record-low 93 problems per 100 vehicles during the first three months of ownership, four problems fewer than last year. J.D. Power also found that the Detroit three improved their quality faster than the industry as a whole. Touch-screen infotainment systems such as radios, cellular phone connections...
TOLEDO, Ohio— More than 100 workers were arrested Tuesday at an Ohio meatpacking plant by federal agents following a yearlong immigration investigation, the second large-scale raid within the state in the past two weeks. Immigration agents and local authorities also carried out search warrants at the company's two other locations in Massillon and its plant...
FRANKFURT, June 19- Volkswagen AG and Ford Motor Co are talking about jointly developing and building a range of commercial vehicles including vans, the companies confirmed on Tuesday. Ford is a leader in medium-duty trucks in the United States, and its F-series pickup has been the best-selling U.S. vehicle for decades. VW, which owns the MAN and Scania truck...
DETROIT— Ford and Volkswagen are exploring joint development of future commercial vehicles in a possible alliance that could lead to cooperation in other areas. But Ford President of Global Markets Jim Farley says in the statement that Ford is trying to become more fit as a business while creating a winning global product portfolio. For example, Ford has...
MONROE, Mich. _ La-Z-Boy Inc. on Tuesday reported fiscal fourth-quarter net income of $34.2 million. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 64 cents per share. Three analysts surveyed by Zacks expected $426.8 million.
DETROIT— Auto seating supplier Adient has canceled its plans to move its global headquarters and hundreds of jobs to Detroit. The company has informed Detroit Mayor Mike Duggan of its decision to scrap its relocation plans, according to an announcement Monday. Adient planned to spend nearly $100 million to relocate its main office in Plymouth, Michigan, to...
DETROIT— Ford Motor Co. is celebrating its purchase of Detroit's long vacant train depot that the company plans to redevelop for research and development of self-driving vehicles. The company's executive chairman, Bill Ford, has used the Michigan Central depot as a backdrop while publicly laying out plans for the 105- year-old train station and surrounding...
In response, China has threatened what it called "comprehensive measures," raising the risk that it would target major American companies operating in China. The White House has accused China of forcing U.S. companies to share advanced technology with Chinese partners as a condition of doing business there. The administration also revived its complaints...
CHICAGO, June 18- President Donald Trump's tariff battle with key buyers of U.S. apples, soybeans and corn threatens the support of some of his biggest backers- U.S. farmers now seeing their livelihoods in jeopardy. "A lot of people in the ag community were willing to give President Trump the benefit of the doubt," said Brian Kuehl, executive director of Farmers for...
The tariffs were quickly matched by China on U.S. exports, a move that drew the president's ire. "China apparently has no intention of changing its unfair practices related to the acquisition of American intellectual property and technology," Trump said in a statement Monday announcing the new action. Trump added: "These tariffs will go into effect if China...
DETROIT— Every workday, about 7,400 trucks mostly loaded with automotive parts rumble across the Ambassador Bridge connecting Detroit and Canada, at times snarling traffic along the busy corridor. Tariffs against China include some autos and parts but if those spread to Canada and Mexico, the impact will be far larger because auto manufacturing has been...
DETROIT— General Motors is getting rid of three Cadillac sedans and replacing them with two new ones over the next 3½ years. The company says it's sinking $175 million into a Lansing, Michigan, factory to make replacements for the ATS compact, CTS midsize and XTS full-size cars. The ATS was designed to compete with the BMW 3 Series but never really caught on.
DETROIT— Ford Motor Co. plans to release details of its planned conversion of the long-vacant Michigan Central train station just west of downtown Detroit. The station, which looms over Detroit's Corktown neighborhood, has stood empty since the last train left in 1988. Detroit architectural historian W. Hawkins Ferry wrote that in its heyday, the train station "...
DETROIT— Bill Ford looks past the tons of paint, plaster and steel needed to remake Detroit's blighted Michigan Central train station and sees more than just an iconic building in desperate need of a makeover. The executive chairman of Ford Motor Co. and great-grandson of founder Henry Ford envisions the future of the carmaker's foray into self-driving...
WASHINGTON— "The economy," Federal Reserve Chairman Jerome Powell declared this week, "is doing very well." Steady hiring has shrunk unemployment to 3.8 percent— the lowest since the 1960' s. They are people like Katy Cole, a 33 year-old music teacher from North Creek, New York, who's still repaying her student loans.
CHICAGO, June 15- U.S. soybean futures plunged 2.5 percent to a one-year low on Friday on concerns that escalations in a trade fight with China would threaten shipments to the biggest buyer of the oilseed, traders said. China hit back, with its commerce ministry saying it will impose 25 percent tariffs on 659 U.S. goods worth $50 billion in response, including...
CHICAGO, June 15- U.S. soybean futures plunged 2.5 percent to a one-year low on Friday as an escalating trade fight with China threatened shipments to the world's biggest buyer of the oilseed, traders said. China said it plans to impose tariff measures of a similar size and intensity. China has published a list of threatened tariffs on $50 billion in U.S. goods,...
