Latest Production facilities News
Biden will decide on US Steel acquisition after influential panel fails to reach consensus
WASHINGTON (AP) — A powerful government panel on Monday failed to reach consensus on the possible national security risks of a nearly $15 billion proposed deal for Nippon Steel of Japan to purchase U.S. Steel, leaving the decision to President Joe Biden, who opposes the deal. The...
VW wage deal for 120,000 German workers avoids layoffs, plant closures
FRANKFURT, Germany (AP) — Volkswagen and its employee representatives said Friday they have reached a wage deal for 120,000 German workers that avoids plant closings and bars involuntary layoffs through 2030. The agreement includes provisions for VW to shed more than 35,000 jobs through early...
A shake-up at one of world's biggest frozen French fry makers
A major supplier of frozen French fries to global chains like McDonald’s, KFC and Taco Bell, has named a new CEO after posting a surprise loss in the second quarter as consumers pull back on the money they spend on food outside the home. But struggles at the Lamb Weston, which...
China's CATL is planning a major expansion of battery swapping for electric vehicles
XIAMEN, China (AP) — The world's largest maker of batteries for electric vehicles said Wednesday it will get into battery swapping in China in a big way starting next year. The idea behind battery swapping is to refuel quickly, similar to filling a conventional car with gas....
China retail sales slow as consumers hold back, while home prices fall
BANGKOK (AP) — Chinese retail sales slowed in November and housing prices fell, the government said Monday, with demand still lackluster despite a flurry of stimulus measures over the past few months. The report came just a few days after top leaders ended an annual planning...
Isak Andic, founder of Spanish fashion brand Mango, dies in accident, aged 71
BARCELONA, Spain (AP) — Isak Andic, the founder of Spanish fashion brand Mango, has died after suffering an accident, the company said on Saturday. He was 71. “It is with deep regret that we announce the unexpected death of Isak Andic, our non-executive chairman and founder of...
Notre Dame reopening spectacle caps a stellar year for luxury house LVMH
PARIS (AP) — The reopening of Notre Dame was a solemn celebration of cultural and spiritual renewal. Yet for some, the historic cathedral's revival also felt like a meticulously choreographed branding event by LVMH and other luxury conglomerates. Bernard Arnault, the lowkey...
McKinsey & Company agrees to pay $650M for helping Purdue Pharma boost opioid sales
BOSTON (AP) — McKinsey & Company consulting firm has agreed to pay $650 million to settle a federal investigation into its work to help opioids manufacturer Purdue Pharma boost the sales of the highly addictive drug OxyContin, according to court papers filed in Virginia on Friday. ...
New Jersey, home to many oil and gas producers, eyes fees to fight climate change
TRENTON, N.J. (AP) — It's not an accident that “The Sopranos,” the quintessential show about New Jersey, opens with its main character driving past gasoline and oil storage tanks along the New Jersey Turnpike. From the outskirts of New York to the Delaware River shoreline...
Fortnite players 'tricked' into unwanted purchases are starting to get refunds. Here's how to apply
NEW YORK (AP) — U.S. consumers who were “tricked” into purchases they didn't want from Fortnite maker Epic Games are now starting to receive refund checks, the Federal Trade Commission said this week. Back in 2022, Epic agreed to pay a total of $520 million to settle complaints...
