General Motors' Saturn plant in Tennessee will open in 1990 with only about half the capacity and employment originally planned, but production will be increased later, Saturn Corp.'
his nation would not cut its oil output even though the Organization of Petroleum Exporting
The Commerce Department reported Thursday that the nation's economy grew more slowly in the last three months of 1986 than previously estimated.
After six weeks of using a new Japanese manufacturing method at the General Motors' Van Nuys assembly plant, car production is 15% behind schedule, according to plant manager Ernest Schaefer.
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Saudi Arabia intends to almost double output to produce its full quota of oil, the Saudi oil
British National Oil Corp. has sold at spot-market prices virtually all of the 800,000 barrels per day of crude oil that it has available for January delivery, oil industry sources said Monday.
Vice President George Bush will travel to three drought-stricken African countries next month to focus attention on the need for more aid and research into farm production, the White House said today.
Five multinational manufacturers are caught up in bruising competition for a slice of Argentina's already saturated auto market.
Responding to worsening fortunes in the oil industry, Irvine-based Smith Tool Co. officials said Tuesday that the firm will lay off an as yet undetermined number of employees Feb. 14 as part of a move to cut production by 20%.
The Organization of Petroleum Exporting Countries abandoned its effort Monday to control prices and production and declared that it will now work to "secure and defend for OPEC a fair share of the world oil market."
Prime Minister Gro Harlem Brundtland said her government would consult oil companies operating in the Norwegian sector of the North Sea.
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A surge in automobile and food prices pushed wholesale prices up 0.9% in October, the largest such increase in more than four years, the Labor Department reported Friday.
China produced 43 million tons of steel last year but expects to increase the output to 60 million
Prime Minister Margaret Thatcher told Parliament on Tuesday that her government would not attempt to force British oil companies operating in the North Sea to cut production, despite weakness in oil prices and the pound sterling.
OPEC oil ministers agreed in principle Saturday on cutting production to bolster slumping prices, but they remained divided over the size of individual cutbacks and one official doubts that an accord would be reached.
U.S. industrial production edged up 0.1% in August as strength in the defense and aerospace industries offset widespread weakness elsewhere, the government reported Tuesday.
Wholesale prices jumped 0.6% during May, ending a streak of four straight monthly declines, as oil prices recovered from an extraordinary plunge, the Labor Department reported Friday.