Latest Production facilities News

US government to give $75 million to South Korean company for Georgia computer chip part factory

May. 23, 2024 17:40 PM EDT

COVINGTON, Ga. (AP) — The federal government will spend $75 million to help build a factory making glass parts for computer chips in Covington, Georgia. The U.S. Department of Commerce announced the investment Thursday in Absolics, part of South Korea's SK Group. The...

EU Commission fines Oreo maker Mondelez 337.5 million euros for blocking cross-border sales

May. 23, 2024 07:25 AM EDT

BRUSSELS (AP) — The European Commission has imposed a fine of 337.5 million euros ($366 million) on food company Mondelez, the owner of Oreo cookies and other snack brands, for obstructing sales of its products between EU member states, the bloc's executive arm said on Thursday. ...

Corn, millet and ... rooftop solar? Farm family’s newest crop shows China’s solar ascendancy

May. 20, 2024 21:10 PM EDT

JINAN, China (AP) — Shi Mei and her husband earn a decent enough living by growing corn and millet on their small farm in eastern China's Shandong province. In 2021, they diversified by investing in solar energy — signing a contract to mount some 40 panels on their roof to feed energy to the...

Bike shops boomed early in the pandemic. It’s been a bumpy ride for most ever since

May. 17, 2024 17:50 PM EDT

For the nation’s bicycle shops, the past few years have probably felt like the business version of the Tour de France, with numerous twists and turns testing their endurance. Early in the pandemic, a surge of interest in cycling pushed sales up 64% to $5.4 billion in 2020,...

China rolls out new measures to fix its property crisis, spur growth

May. 17, 2024 04:48 AM EDT

China announced a slate of fresh measures Friday to reinvigorate its ailing property industry after the latest data showed housing prices have slumped nearly 10% since the start of the year. Among other things, the central bank said it would reduce the minimum down payment for...

Taiwan is selling more to the US than China in major shift away from Beijing

May. 17, 2024 00:15 AM EDT

WASHINGTON (AP) — Whether it's tapioca balls or computer chips, Taiwan is stretching toward the United States and away from China — the world's No. 2 economy that threatens to take the democratically ruled island by force if necessary. That has translated to the world’s biggest...

Walmart, Canada Goose rise; Deere, Freeport-McMoRan fall, Thursday, 5/16/2024

May. 16, 2024 16:17 PM EDT

NEW YORK (AP) — Stocks that traded heavily or had substantial price changes on Thursday: Walmart Inc., up $4.18 to $64.01. The retailer's first-quarter financial results beat analysts' forecasts. Deere & Co., down $19.59 to $394.43. ...

Japan's Sony reports surge in profit on strong sales of movies, games and music

May. 14, 2024 04:50 AM EDT

TOKYO (AP) — Profit at Sony surged 34% in the last quarter on strong sales of its video games, music and movies, the Japanese electronics and entertainment company said Tuesday. Tokyo-based Sony Corp.’s quarterly profit totaled 189 billion yen ($1.2 billion), up from 141 billion...

Beyond Meat urges investors to look past bumpy Q1, says new US burger could reignite sales

May. 08, 2024 18:44 PM EDT

Plant-based meat maker Beyond Meat urged investors to look past its mixed first quarter results Wednesday, saying a new, healthier burger hitting U.S. shelves now will help reignite weak sales. “We really do believe we are at the early stages of a pivotal and terrific year for...

Prada focuses generational transition on artisans, expanding production and workforce in Italy

May. 08, 2024 14:48 PM EDT

TORGIANO, Italy (AP) — The Prada Group is expanding its production footprint in Italy, including dozens of new jobs at its knitwear factory in Umbria, leaning into “Made in Italy” as integral to the brand’s ethos and developing new artisanal talent to ease the luxury group through a...