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Panasonic, Tesla to build big US battery plant

American electric car maker Tesla Motors Inc. is teaming up with Japanese electronics company Panasonic Corp. to build a battery manufacturing plant in the U.S. expected to create 6,500 jobs.

 

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Stocks slump as earnings disappoint

U.S. stocks fell Thursday as investors reacted to some disappointing earnings reports and assessed the implications of the approaching end to economic stimulus from the Federal Reserve. That stimulus has underpinned gains in the stock market for years.

Hyatt Hotels 2Q profit drops 34 percent

Hyatt Hotels Corp. on Thursday reported earnings declined 34 percent in its second quarter but beat analysts’ expectations.

Target names Pepsi’s Cornell as chairman, CEO

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Target has hired Pepsi executive Brian Cornell as its new chairman and CEO as it looks to recover from a huge data breach and troubles in Canada.

Adidas issues profit warning on Russia risks

Sports equipment maker Adidas lowered its full-year profit target on Thursday, citing among other things increasing risk in the Russian market amid mounting political tensions over Ukraine.

Nokia in wireless network deal with Panasonic

Finnish wireless equipment maker Nokia says it has a preliminary agreement to acquire part of the wireless network business of Japan’s Panasonic Corp.

Cargill to close beef plant, cites cattle shortage

Cargill plans to close a Milwaukee beef-processing plant that employs about 600 people Friday due to a shortage of cattle.

Fort Wayne GM plant lacks parts, cancels shifts

FORT WAYNE (AP) — An auto parts shortage has caused the cancellation of several shifts at the General Motors truck assembly plant in Fort Wayne. GM spokeswoman Stephanie Jentgen says a breakdown at a supplier caused the problem that has affected shifts since Monday night. …

Lawyer sues GM on behalf of 658 plaintiffs

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A Texas lawyer has filed a lawsuit against General Motors on behalf of 658 people who were injured or killed in crashes allegedly caused by faulty ignition switches.

11,000 Kawasaki vehicles recalled for injury risk

About 11,000 Kawasaki off-road vehicles are being recalled because debris can cut through the foot rest area and hurt riders’ legs.

Toyota remains at top in sales after first half

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Toyota remains No. 1 in global vehicles sales after the first six months of this year, followed by Volkswagen which bumped General Motors out of second place as the U.S. automaker grapples with a recall scandal.

Amazon to invest $2 billion to expand in India

The world’s largest online retailer is facing off in India against a new name in e-commerce that was founded by former Amazon employees. Amazon.com Inc. said Wednesday it will invest $2 billion to expand its Indian business, a day after local rival Flipkart raised $1 billion to fund its own expansion.

Hyundai recalls 883K Sonatas to fix gear shifters

Hyundai is recalling its popular Sonata midsize sedan to fix problems with the gear shift levers. The recall covers 883,000 cars from the 2011 through 2014 model years.

Small cars fare poorly in crash tests

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The four-door Mini Cooper Countryman was the only one of 12 cars to earn a top rating of “good” in new frontal crash tests performed by the Insurance Institute for Highway Safety.

Suzuki recalls nearly 26,000 cars for fire risk

Suzuki is recalling nearly 26,000 midsize cars in the U.S. because the daytime running light modules can overheat and could cause a fire.

BP warns of impact of Russia sanctions on profits

Energy company BP has warned that further international sanctions on Russia could have an adverse impact on its profits because of its stake in the oil giant, Rosneft.