Tag Archives: Manufacturing

Dow closes 660 points lower after Apple cuts sales outlook, weak reading on U.S. manufacturing

Dow closes 660 points lower after Apple cuts sales outlook, weak reading on U.S. manufacturingThe Dow fell 660 points after Apple lowered its quarterly revenue outlook due to slowing iPhone sales in China, spooking stock market investors.



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In a U.S. manufacturing hub, no illusions about tariffs and jobs

In a U.S. manufacturing hub, no illusions about tariffs and jobs(This September 26 story corrects glass factory location in paragraph 12) By Howard Schneider THOMASVILLE, N.C. (Reuters) – In a town where a 30-feet tall chair is the chief landmark, and which is synonymous with a U.S. furniture industry decimated over the years by imports from China, many greet the possibility of tariffs on Chinese goods with a shrug. Of three once bustling Thomasville furniture plants in the city limits, one is being demolished and cleared for parkland, another may become the site of a new police station, and a third is being converted into apartments. President Donald Trump is threatening to levy tariffs of up to 25 percent on $ 500 billion of goods imported from China each year, including roughly $ 20 billion of furniture, as a way to bring back hundreds of thousands of manufacturing jobs lost to China and other low-cost competitors.



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Exclusive: Tesla hits Model 3 manufacturing milestone, hours after deadline – factory sources

Exclusive: Tesla hits Model 3 manufacturing milestone, hours after deadline - factory sourcesTesla Inc nearly produced 5,000 Model 3 electric sedans in the last week of its second quarter, with the final car rolling off the assembly line on Sunday morning, several hours after the midnight goal set by Chief Executive Elon Musk, two workers at the factory told Reuters. It was not clear if Tesla could maintain that level of production for a longer period of time. Tesla did not immediately respond to a request for comment.



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GM says Venezuela has illegally seized its manufacturing plant

GM says Venezuela has illegally seized its manufacturing plantGeneral Motors will immediately cease operations in the country of Venezuela after the U.S. automaker announced authorities there illegally seized its manufacturing plant and industrial hub. “Yesterday, GMV’s (General Motors Venezolana) plant was unexpectedly taken by the public authorities, preventing normal operations.



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Mylan says EpiPen manufacturing partner to expand device recall

Mylan says EpiPen manufacturing partner to expand device recall(Reuters) – Generic drugmaker Mylan NV said on Friday that its manufacturing partner for EpiPen devices had expanded a recall of the life-saving allergy shot in the United States and other markets. The announcement comes a week after Mylan said it had recalled about 81,000 EpiPen devices in countries outside the United States following two reports of the company’s allergy treatment failing to work in emergencies. The recall is being initiated in the United States and will extend to Europe, Asia, North and South America, Mylan said.



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Manufacturing deal wins China cheap supply of GSK’s new HIV drug

A British Airways airplane flies past a signage for pharmaceutical giant GlaxoSmithKlein in LondonChina will receive cut-price supplies of GlaxoSmithKline's new HIV drug Tivicay, following a deal for Shanghai-based Desano Pharmaceuticals to become an additional manufacturer of the medicine's active ingredient. The collaboration between GSK's HIV unit ViiV Healthcare and Desano marks an improvement in the business climate for the British drugmaker, which was fined a record 3 billion yuan ($ 484 million) in September for bribing Chinese doctors. Under the agreement announced by ViiV on Thursday, Desano will manufacture the active pharmaceutical ingredient for Tivicay, or dolutegravir, to feed into the GSK/ViiV supply chain for onward sale in China and other developing countries.



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