Latest Production facilities News
In Philadelphia, Chinatown activists rally again to stop development. This time, it's a 76ers arena
PHILADELPHIA (AP) — Vivian Chang works on a narrow Philadelphia street that would have been consumed by a Phillies stadium had Chinatown activists not rallied to defeat the plan in the early 2000s. Instead of 40,000 cheering fans, the squeals of young children now fill the playground at Folk...
Helene damaged a factory that makes IV fluids
The fallout from storm damage to a North Carolina factory that makes critical hospital supplies will be felt broadly and could linger, experts say. Flooding triggered by Hurricane Helene hit a Baxter International plant in North Cove, North Carolina, that makes much of the...
Nike's quarterly sales and profits slump as it faces shoppers' sluggish demand for its products
NEW YORK (AP) — Nike sales and profits slumped in its fiscal first quarter as the sportswear giant wrestles with shoppers' sluggish demand for new sneaker models and other products. The lackluster results Tuesday came after Nike announced last month that its CEO, John Donahoe, is...
Warren Buffett buys rest of Berkshire Hathaway's utilities, but investors must guess at the price
OMAHA, Neb. (AP) — Warren Buffett's Berkshire Hathaway is buying the rest of its utility unit from the estate of a longtime board member who died three years ago, but it's not clear exactly how much it will pay for that 8% stake in the massive utility business. Berkshire Hathaway...
Vista, Blackstone buying software maker Smartsheet for about $8.4 billion
Private equity firms Vista Equity Partners and Blackstone are buying software maker Smartsheet for approximately $8.4 billion in cash. Vista and Blackstone said Tuesday that they will pay $56.50 per Smartsheet Inc. share. The agreement includes a 45-day “go-shop” period during...
Struggling Jeep and Ram maker Stellantis is searching for an new CEO
DETROIT (AP) — Struggling Jeep and Ram maker Stellantis is looking for a CEO to succeed Carlos Tavares, but the company says it's just part of a normal leadership succession plan. Tavares has been under fire from U.S. dealers and the United Auto Workers union after a dismal...
The AI boom may give Three Mile Island a new life supplying power to Microsoft's data centers
HARRISBURG, Pa. (AP) — The owner of the shuttered Three Mile Island nuclear power plant said Friday that it plans to restart the reactor under a 20-year agreement that calls for tech giant Microsoft to buy the power to supply its data centers with carbon-free energy. The...
Trump will soon be able to sell shares in Truth Social's parent company. What's at stake?
NEW YORK (AP) — For all the debate about just how rich former President Donald Trump is, one thing is clear: His ownership stake in Trump Media & Technology Group makes him a billionaire. The company behind the Truth Social platform is worth more than $3 billion on Wall Street,...
Intel stock surges on plans to make AI chips for Amazon and to turn foundry into subsidiary
Shares of Intel are surging before the market opens Tuesday after the chipmaker said its foundry business would make some custom artificial intelligence chips for Amazon Web Services as it attempts to reinvigorate its business. CEO Pat Gelsinger said in a message to employees late...
UAW's rift with Stellantis raises fear that some US auto jobs could vanish
STERLING HEIGHTS, Mich. (AP) — To Ruth Breeden, whose job is to assemble Ram trucks in this Detroit suburb, a simmering dispute between the United Auto Workers union and Stellantis isn't merely about whether her employer will reopen a distant factory in Illinois. To her, the standoff is a danger...
