Latest Industrial equipment manufacturing News

Escalating US-China trade war sends stocks plunging

May. 13, 2019 5:31 PM EDT

The Dow Jones Industrial Average plunged more than 600 points Monday as investors sought shelter from an escalating trade war between the U.S. and China. The selling was widespread and heavy, handing the benchmark S&P 500 index its biggest loss since January. The sell-off extended the market's slide into a...

The Latest: Trump administration ups tariff talk on China

May. 11, 2019 6:29 AM EDT

WASHINGTON (AP) — The Latest on the tariffs standoff between the United States and China (all times local): 6:50 p.m. U.S. Trade Representative Robert Lighthizer says his office is preparing to impose tariffs on the $300 billion in Chinese products that aren't already facing import taxes, another...

Cache of 1,000 guns seized from Los Angeles mansion in raid

May. 9, 2019 12:35 AM EDT

LOS ANGELES (AP) — More than 1,000 rifles and handguns and thousands of rounds of ammunition were seized Wednesday at a mansion in a posh area of town not far from the Playboy Mansion. Acting on a tip regarding illegal firearms sales, police and federal agents served a search warrant at around 4 a.m. at...

The Latest: Man arrested, 1,000 guns seized at LA mansion

May. 8, 2019 11:07 PM EDT

LOS ANGELES (AP) — The Latest on the seizure of more than 1,000 guns in Los Angeles (all times local): 8:05 p.m. Authorities say they've arrested a man after seizing more than 1,000 guns from a mansion in a posh area of Los Angeles. Police and agents from the Bureau of Alcohol, Tobacco, Firearms and...

Saab plans Air Force jet facility near Purdue campus

May. 8, 2019 3:55 PM EDT

WEST LAFAYETTE, Ind. (AP) — Swedish manufacturer Saab plans to open an Indiana manufacturing site as part of its production of a new Air Force training jet, bringing a major aviation project to Purdue University's research and business district. Company officials announced Wednesday it would spend $37...

Siemens to cut 10,000 jobs in major overhaul

May. 8, 2019 8:07 AM EDT

FRANKFURT, Germany (AP) — German industrial equipment maker Siemens says it will cut some 10,000 jobs in a major restructuring that will involve spinning off its oil, gas and power generation business and creating new areas of growth. News of the moves to increase profitability and address the struggling...

US Steel plows $1B into western Pennsylvania operations

May. 2, 2019 2:32 PM EDT

PITTSBURGH (AP) — U.S. Steel will invest more than $1 billion on state-of-the-art facilities in western Pennsylvania that it says will improve its steelmaking efficiency and reduce emissions at its Mon Valley Works operations, the company said Thursday. The announcement comes just days after two...

State of small business more mixed than administration says

May. 1, 2019 12:12 PM EDT

NEW YORK (AP) — As Small Business Week approaches, the nation's smallest companies in the aggregate are by many accounts doing fairly well. They're not, however, thriving en masse in direct response to Trump administration and Republican policies. Small business hiring is erratic, according to numbers...

Anadarko opens Occidental buyout talks; Chevron in the wings

Apr. 29, 2019 9:40 PM EDT

NEW YORK (AP) — Anadarko, which had snubbed Occidental's buyout offer in favor of Chevron, is now resurrecting talks with its original suitor. The move sets up a bidding war for Anadarko Petroleum Corp., which had accepted Chevron's $33 billion bid even though it had been in talks with Occidental for some...

11 die as elevator cable snaps at work site in north China

Apr. 25, 2019 12:45 AM EDT

BEIJING (AP) — Eleven workers were killed and two seriously injured Thursday when an elevator at a construction site in northern China fell due to snapped cable, state media reported. The Voice of China radio said the accident, the latest in a series of deadly industrial incidents, occurred around 8 a.m....