IBTimes.com : Companies - Industrials

Lower Nickel Prices Affect Western Areas; Gillard Vows Support for Aluminium Sector

Mon, 13 Feb 2012 23:29:40 EST

Nickel miner Western Areas reported on Tuesday a 64 per cent decline in its first half net profit due to lower prices of the commodity. From July to December 2011, the firm logged a $24.1 million net profit, down from $67.2 million compared to the same period a year ago.

Carmaker that Laid Off Workers Grants 22% Pay Hike

Mon, 13 Feb 2012 22:03:58 EST

While hundreds of jobs continue to be shed across Australia since the start of February as businesses complain of the strong currency and weak consumer confidence, workers in Holden would enjoy up to a 22 per cent wage increase spread over the next three years.

Rio Tinto Invests $1.4 B in Chile Copper Mine

Mon, 13 Feb 2012 19:25:18 EST

To increase the production capability of the Escondida copper mine in Chile, Rio Tinto has approved US$1.4 billion for two projects supporting this move.

Australian Stock Market Leads - 02/14/2012

Mon, 13 Feb 2012 18:20:00 EST

The Australian stock market is seen heading for a slow but steady start on Tuesday with the positive global markets performance extending limited gains on commodities and other risk-related assets.

Global Markets Overview 02/14/2012

Mon, 13 Feb 2012 17:41:05 EST

Stocks added to gains and hit session highs in afternoon trading, buoyed by the adoption of austerity measures by Greece's Parliament. The Dow Jones Industrial Average was recently ahead 82 points, or 0.6%, at 12884. The Standard & Poor's 500-stock index advanced 10 points, or 0.8%, to 1353, and the Nasdaq Composite gained 29 points, or 1%, to 2933.

Deere & Company Earnings Preview: Q1 Boosted by U.S. Farm Income

Mon, 13 Feb 2012 14:01:37 EST

Deere & Co., the world's largest maker of farm tractors and combines, is expected to report strong fiscal first quarter results as U.S. farmers flush with cash update aging fleets and Deere's products gain greater acceptance in Brazil.

Soros: Shale Gas and Oil Prompting Economic Recovery

Mon, 13 Feb 2012 13:07:42 EST

Billionaire investor George Soros attributed the nation's favorable economic outlook to the nation's shale resources in a weekend interview.

Global Markets Overview - 02/13/2012

Sun, 12 Feb 2012 17:49:15 EST

Stocks were dragged down for their worst one-day loss in about six weeks by tumult over the Greek bailout, disappointing readings on the U.S. economy and a downgrade of nearly three dozen Italian banks.

Pentagon Budget Plans $178.8 Billion for Procurement and R&D in FY 2013

Sun, 12 Feb 2012 07:21:03 EST

The Pentagon's fiscal 2013 budget plan calls for the spending of $178.8 billion to develop and buy new warships, fighter jets, and other major weapons, a 7.5 percent drop from the level initially projected for the coming year.

U.S. F-35 production slowdown may delay foreign orders

Fri, 10 Feb 2012 22:49:07 EST

Washington's plan to further slow production of the F-35 Joint Strike Fighter is prompting its eight foreign partners to rethink their own orders, threatening a vital revenue stream for Lockheed Martin Corp and slowing its drive to make the stealthy new fighter jet as affordable as promised.

EPA Yet to Respond to Texas Railroad Commission on Fracking

Fri, 10 Feb 2012 17:01:22 EST

The Environmental Protection Agency has yet to respond to a Texas Railroad Commission request to reclassify its draft report linking hydraulic fracturing to ground water contamination as a "scientific assessment.".

Tesla Model X Unveiled in LA [PHOTOS]

Fri, 10 Feb 2012 14:58:51 EST

Tesla Model X, the CUV prototype version of the Model S

Bernanke Urges Creditors to Rent Properties, Not Try to Sell Them

Fri, 10 Feb 2012 13:43:22 EST

The head of the U.S. central bank, in his second public statement on housing policy in as many weeks, told an audience of residential builders Friday that creditors who own vacant homes should consider renting the properties as a way to stanch urban blight.

Job Cuts Hit Australia’s Construction Industry

Thu, 09 Feb 2012 22:19:49 EST

More jobs in Australia continue to be placed on the chopping block as the axe moves to the construction industry. Kell & Rigby, one of Australia's oldest building firms, announced on Thursday the loss of 500 jobs.

Australian Stock Market Leads - 02/09/2012

Wed, 08 Feb 2012 18:05:42 EST

The Australian stock market is perceived to maintain its current bouyant status thugging within its comfort zone range between 4,200 to 4,300 with the absence of catalysts to bring forth a major boost, analysts said.

Global Markets Overview - 02/09/2012

Wed, 08 Feb 2012 17:42:15 EST

U.S. stocks pared losses to inch higher as investors digested headlines over a Greek debt-restructuring deal that would allow the euro-zone country to avoid a default.

Rio Tinto Commits $3.4B More in Pilbara, Western Australia

Tue, 07 Feb 2012 18:44:49 EST

Rio Tinto has committed a further US$3.4 billion to the major expansion of its Pilbara iron ore operations in Western Australia.

Australian Stock Market Leads - 02/08/2012

Tue, 07 Feb 2012 18:12:05 EST

The positive leads from U.S. markets may not impact much on local stocks especially the currency-sensitive ones with the rate pause initiated by the Reserve Bank of Australia (RBA), analysts say.

Super Bowl 2012: Was Clint Eastwood ‘Political’ in Chicago Chrysler Commercial?

Tue, 07 Feb 2012 07:46:44 EST

Chrysler’s most recent Super Bowl XLVI commercial featuring Clint Eastwood has sparked innumerous debates about whether it talks about America’s most economically distressed city or if it is a campaign ad for President Barack Obama.

Threat of Week-long Strike Looms Over BHP Queensland Mine

Mon, 06 Feb 2012 22:19:16 EST

Workers in BHP Billiton's (ASX: BHP) Queensland coal mines will hold a week-long strike likely to begin Friday to protest the latest enterprise agreement offer by the mining giant. The workers, members of the Construction, Forestry, Mining and Energy Union (CFMEU), are against some of the pay and work condition provisions of BHP's offer.

Ford won't bid to replace military Humvees

Mon, 06 Feb 2012 20:42:07 EST

Ford Motor Co said on Monday it had decided not to participate in a new Pentagon competition to replace the U.S. military's fleet of workhorse Humvee vehicles.

Australia Construction Declines Further as New Orders Weaken

Mon, 06 Feb 2012 18:46:34 EST

Further drops in activity and new orders saw the national construction industry spend another month in the red according to the latest Australian Industry Group Australian Performance of Construction Index (Australian PCI®), in conjunction with the Housing Industry Association. The seasonally adjusted index fell by 1.2 points to 39.

Australian Stock Market Leads - 02/07/2012

Mon, 06 Feb 2012 18:24:01 EST

The Australian stock market is seen to hold firm, but gains are narrowed down by the grim prospects in Greece, that has yet to settle prevailing debt concerns.

Global Markets Overview - 02/07/2012

Mon, 06 Feb 2012 17:40:21 EST

U.S. stocks drifted lower as the recent rally paused, with investors shifting focus to wrangling in Greece over fiscal austerity. The Dow Jones Industrial Average eased 38 points, or 0.3%, to 12824 as the last hour of trading approached. The Standard & Poor's 500-stock index lost 2.7 points, or 0.2%, to 1342, and the Nasdaq Composite declined 7.8 points, or 0.3%, to 2898.

Research Shows Potential of Advanced Mining Automation

Sun, 05 Feb 2012 20:02:02 EST

World-first technology in the mining industry is contributing to better health and safety for miners, production efficiencies and improved energy consumption and environmental benefits, according to a new research.

Australian Stock Market Leads - 6 February 2012

Sun, 05 Feb 2012 18:23:33 EST

The optimism generated by the better-than-expected US jobs is seen to redound to the stock market. Analysts are bullish that Monday's trading will record some gains benefitting from the major averages posted by the Dow Jones Industrial Average, up 1.2% to close at 12862; the S&P climbed 1.5% at 1345; and the NASDAQ advanced 1.6% to end at 2906.

Global Manufacturing Buzzing So Far in 2012

Fri, 03 Feb 2012 16:15:53 EST

Almost every major global economy showed positive momentum in the manufacturing sector during January, according to data compiled by various economic-research organizations.

Facebook IPO: Top 10 Largest U.S. IPOs

Fri, 03 Feb 2012 11:36:02 EST

Having filed for its initial public offering (IPO) on Wednesday, Facebook has the potential to debut on the New York Stock Exchange (NYSE) with one of the largest IPOs ever. Check out this slideshow to see which were the largest IPOs in U.S. history.

Malev, Hungary’s National Airline, Collapses

Fri, 03 Feb 2012 10:52:26 EST

The money Malev owed was equal to its entire annual revenue.

U.S. Plans $2.8B Upgrade of F-16 Fighter

Thu, 02 Feb 2012 20:50:41 EST

The U.S. Air Force said Thursday it plans a $2.8 billion upgrade of about 350 of its aging F-16 multi-role fighter planes to help offset slower purchases of the next-generation F-35 Joint Strike Fighter.

Australian Stock Market Leads - 03/02/2012

Thu, 02 Feb 2012 18:40:56 EST

The Australian stock market is off to a slow start on Friday with commodity-related stocks led by Lynas Corp (ASX: LYC), Aquarius Platinum Ltd (ASX: AQP), Atlas Iron Ltd (ASX:AGO) hitting some gains as of 10:00 AM (AEST).

Hacked Companies still Not Telling Investors

Thu, 02 Feb 2012 10:28:43 EST

At least a half-dozen major U.S. companies whose computers have been infiltrated by cyber criminals or international spies have not admitted to the incidents despite new guidance from securities regulators urging such disclosures.

NRC: Nuclear Accidents Pose Little Risk to Health

Thu, 02 Feb 2012 09:08:37 EST

The risk to public health from a severe nuclear power plant accident in the United States is "very small" because reactor operators should have time to prevent core damage and reduce the release of radioactive materials, U.S. nuclear regulators said in a study on Wednesday.

Global Markets Overview - 2 February 2012

Wed, 01 Feb 2012 17:28:51 EST

FROM MORRISON SECURITIES PTY. LTD U.S. stocks rose broadly, moving to within striking distance of a multi-year high, as investors were bolstered by solid manufacturing reports around the world.

Bankrupt American Airlines Could Cut 14,000 Jobs

Wed, 01 Feb 2012 14:46:07 EST

AMR Corp.'s American Airlines will work to drastically reduce costs by more than $2 billion annually, the company said Wednesday, with a heavy portion of those cuts resulting from a reduction in labor costs.

iPhone 5: Apple Users Demand 'Ethical' Smartphone Before Release

Wed, 01 Feb 2012 10:05:54 EST

Some Apple users are unhappy with the way their gadgets are produced, and are calling on Apple to overhaul their production line ahead of the iPhone 5 release and make it the first "ethical" phone.

L'Oreal Ad with Rachel Weisz Banned for Being 'Misleadingly Exaggerated'

Wed, 01 Feb 2012 06:47:56 EST

Oscar-winning actress Rachel Weisz's L'Oreal advertisement has been banned on the grounds of the ad being "Misleadingly exaggerated."

Australian Stock Market Leads - 1 February 2012

Tue, 31 Jan 2012 18:26:25 EST

Australia's stock market had not moved in pace with the rest of the Asia-Pacific markets on Tuesday and is seen to remain flat on Wednesday's trading, but some action will push media-related stocks led by Fairfax Ltd.

Global Markets Overview - 1 February 2012

Tue, 31 Jan 2012 18:00:11 EST

The Dow was in line for a fourth straight decline after a weaker than expected reading on consumer confidence erased early gains prompted by agreements designed to address Europe's sovereign-debt issues.

Cummins 4Q Earnings Preview: Engine Demand, Construction Recovery Expected to Boost Manufacturer

Tue, 31 Jan 2012 16:35:14 EST

The Columbus, Ind.-based company is expected to earn $424 million, or $2.24 per share, up from 362 million or $1.84 per share in the year earlier period, estimates carried by Thomson Reuters said. Analysts expect revenue of $4.7 billion, up from $4.1 billion in the year earlier period.

Sen. Sheldon Whitehouse to Introduce 'Buffett Rule' Tax Bill This Week

Mon, 30 Jan 2012 17:18:59 EST

Whitehouse confirmed Monday that he and at least two co-sponsors will introduce a bill on Wednesday requiring millionaires to pay a 30 percent tax rate on their income.

FDA Approves Skin Cancer Drug for 'Major Advances in Treatment'

Mon, 30 Jan 2012 15:07:18 EST

The U.S. Food and Drug Administration on Monday gave a green light to a basal cell skin cancer drug made by Roche Holding AG and Curis Inc. The drug will be marketed by Roche's San Francisco-based Genetech arm under the brand name Erivedge.

Keystone Pipeline Approval Pushed in New Proposals, Senate GOP Aims to Bypass Obama to Approve Construction

Mon, 30 Jan 2012 14:59:24 EST

Senate Republicans plan to introduce a bill that would allow Congress to bypass the executive branch in order to green-light construction for the contentious Keystone XL pipeline.

Chrysler to Add 1,600 Manufacturing Jobs

Mon, 30 Jan 2012 10:38:07 EST

Chrysler plans on adding 1,600 production workers to an Illinois assembly plant, the first step in a rejuvenation the company expects will add thousands of workers to its payroll over the next three years.

Honda Set to Take Off with 'Civic of the Sky'

Mon, 30 Jan 2012 10:34:49 EST

Imagined by Honda officials for almost 30 years, the Japanese auto maker is expecting to make its first HondaJet delivery next year, and intends to carve out a 25 percent market share of the world's business jets.

Spanair Ceases Operations, Cites Economic Crisis

Mon, 30 Jan 2012 08:30:47 EST

Loss-making Spanish airline Spanair ceased operations on Friday night, grounding all its airplanes after its owner, citing the country's economic crisis, said it would not sink any more money into the company.

Philips swings to loss as Europe's economy falters

Mon, 30 Jan 2012 06:07:07 EST

Philips swung to a net loss in the fourth quarter of last year as cuts in government budgets ate into its healthcare equipment business and a slowdown in construction activity hit its lighting operations.

Cadmium Spill in China Threatens Drinking Water for Millions

Fri, 27 Jan 2012 09:19:18 EST

A cancer-causing cadmium discharge from a mining company has polluted a long stretch of two rivers in southern China, and officials warned some 3.7 million people of Liuzhou in the Guangxi region to avoid drinking water from the river, state media reported on Friday.

Eastman Chemical to Acquire Solutia in $4.7B Deal

Fri, 27 Jan 2012 09:10:19 EST

Eastman Chemical is buying Solutia for $4.7 billion, including debt, in an effort to expand into the specialty plastics and chemicals market as well as the Asia-Pacific region.

Ford Reports Lower-Than-Expected 4Q on Higher Commodity Costs

Fri, 27 Jan 2012 07:39:38 EST

Ford Motor Co reported a lower-than-expected fourth-quarter profit on Friday due to higher commodity costs and losses in its automotive operations in Europe and Asia.