WASHINGTON-Toyota has agreed to pay a record $16.4 million fine for failing to properly notify federal authorities about a dangerous accelerator pedal defect. MORE
INDEPENDENCE, OH-Metalforming companies expect business conditions to remain steady during the next three months, according to the Precision Metalforming Association (PMA) Business Conditions Report. MORE
NEW YORK-The economic recovery for the U.S. industrial sector is outpacing the national economy, according to ThomasNet’s Industry Market Barometer. MORE
SEOUL, South Korea-Samsung is investigating reports of potentially cancerous materials or leaks of ionizing radiation at one its chip manufacturing plants. MORE
CLEVELAND-Union workers at Freightliner have tentatively agreed to a new contract that includes pay cuts and $200-per-month payments by employees toward their insurance. MORE
TAUNTON, MA-Dozens of sign-toting and chanting union members marched on the Haskon Aerospace manufacturing plant here after being informed that they would lose their jobs before the end of 2010. MORE
DETROIT,
MI-Arvin Meritor, the Troy-based global supplier of axles and brakes to the commercial
vehicle market, is selectively hiring in Michigan after reducing
its worldwide headcount by 17% between fall 2008 and spring 2009, CEO Chip
McClure said Wednesday at the annual SAE breakfast of the Detroit Regional
Economic Partnership. MORE
MCLEAN, VA-In an another sign of U.S. economic growth, sales of machine tools totaled nearly $164 million in February, a 29 percent increase from January sales and a 22 percent increase from February 2009. All totaled, sales for the first two months of 2010 are up 22 percent compared with the same period in 2009. MORE
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