American battery maker A123 Systems secured more than $100 million in refundable tax credits from the state of Michigan to establish plants in the state needed to manufacture of its lithium-ion batteries as demand for them grows, the company announced Tuesday.
U.S. President Barack Obama said on Monday that thousands of major infrastructure projects being undertaken as part of his economic stimulus plan were ahead of schedule and under budget.
The United States has long served to draw top talent from other countries, particularly into its Information Technology sector, but a new push from lawmakers may limit the number of new workers that can enter the country.
MGM Mirage has hired Morgan Stanley to handle potential sales of two of its cash cows -- MGM Grand Detroit and Biloxi's Beau Rivage casinos, The Wall Street Journal reported on Sunday, citing people with knowledge of the matter.
Shares of Dow Chemical Co. jumped Thursday, the day after the company closed on its $16.5 billion buyout of Rohm & Haas and immediately sold Rohm's Morton Salt division to cut its debt load.
The following are President Obama's prepared comments on the Auto Industry and the outlook for General Motors Corp and Chrysler LLC as provided by the White House.
General Motors Corp, whose chief executive was forced out by the Obama administration on Sunday, and Chrysler LLC will each be given capital and time to accelerate their attempts to restructure and survive, according to a government aid plan set for release on Monday.
U.S. stock index futures pointed to a lower open on Wall Street on Friday following the previous session's strong gains, with futures for the S&P 500 down 0.6 percent, Dow Jones futures down 0.6 percent and Nasdaq 100 futures down 0.7 percent at 1000 GMT (6 a.m. EDT).
The Democratic-led U.S. Congress gave final approval on Wednesday to sweeping land and water conservation legislation that environmental groups praised as one of the most significant in U.S. history.
Sales of previously owned U.S. homes rose at their fastest pace in nearly six years in February, data showed on Monday, providing some good news for the recession hit-economy.
Sales of previously owned U.S. homes rose at their fastest pace in nearly six years in February, data showed on Monday, providing some good news for the recession hit-economy.
Deep in the last stronghold of the struggling U.S. auto industry, Rosario Criscuolo says he owes the survival of his business to Toyota Motor Corp .
Americans fear home prices will drop more sharply in the coming year, despite government efforts to resuscitate the battered real estate sector, according to a poll released on Friday. U.S. homeowners predicted their home values would fall by 2.2 percent in the year ahead, the biggest anticipated decline in the past few years.
By Matt Daily and Walden Siew
Solar power, wind and biotech made record money last year and promise excellent results in the future, but first, companies must survive the world financial crisis, a report said on Tuesday.
Members of the Obama administration's autos task force toured General Motors Corp and Chrysler facilities in the Detroit area on Monday, checking new technology and meeting with company executives.
About one in eight U.S. homeowners with mortgages, a record share, ended 2008 behind on their loan payments or in the foreclosure process as job losses intensified a housing crisis spawned by lax lending practices, the Mortgage Bankers Association said on Thursday.
U.S. business productivity fell in the fourth quarter as output plunged at its fastest pace since 1982, while one in eight U.S. households ended 2008 behind on its mortgage or in foreclosure, according to data on Thursday that underscored the economy's weakness.
One in five U.S. homeowners with mortgages owe more to their lenders than their homes are worth, and the rate will increase as housing prices drop in states that have so far avoided the worst of the crisis, a new study shows.
The sanctity of the secret Swiss bank account -- an icon of global finance -- is under growing pressure in a tax investigation due to come into public view on Wednesday at a U.S. congressional hearing.
Offshore tax havens used by rich Americans in Switzerland, the Cayman Islands and other nations are targeted for shutdown by bills offered on Monday by Democrats in both chambers of the Congress.
The Obama administration is not interested in escalating a dispute with Switzerland over bank secrecy laws, Switzerland's top justice official said on Monday after meeting with her U.S. counterparts.
