falls in China
China's manufacturing activity fell to a nine-month low in August, stepping up pressure on Beijing for more interest rate cuts and stimulus measures to revive growth. HSBC Corp. said a preliminary version of its monthly purchasing managers index for China fell to 47.8 in August, with numbers below 50 indicating an industry contraction.
GM invests $220M
to build new Cruze
General Motors says it will invest $220 million at two Ohio factories to build the next-generation Chevrolet Cruze compact car. It said the investment in new equipment will preserve more than 5,000 jobs at factories in Lordstown, Ohio, near Youngstown, and Parma near Cleveland.
up last week
The number of people seeking first-time unemployment benefits rose a slight 4,000 last week to 372,000, a sign the job market's recovery remains modest and uneven. The Labor Department said the four-week average, a less-volatile measure, increased 3,750, to 368,000. A number below 375,000 generally suggests hiring is strong enough to lower the unemployment rate.
Schilling's R.I. deal
ignored key points
The government deal that guaranteed a $75 million loan for Curt Schilling's now bankrupt video game company focused largely on how quickly the firm would bring jobs to Rhode Island, gaming industry and other experts said. It overlooked requirements for outside investment or other steps that could have helped protect the public's money and the company's future.
Jurors began their second day of deliberations in a multibillion-dollar patent infringement case pitting Apple against Samsung over the design of iPhones and iPads. After a three-week trial in San Jose, a jury of seven men and two women picked from a pool of Silicon Valley residents will decide if Samsung ripped off Apple's designs or whether Apple wronged Samsung.
Federal officials say nothing they have seen so far in covert video shot in a California slaughterhouse shows that meat from cows that may have been sick made it into the food supply. But the USDA and McDonald's halted purchases from Central Valley Meat because of the video that appeared to show sick or lame cows being abused in an effort to get them to walk to slaughter.