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Judge gives major break in GM theft case

Submitted by Fox First at Ten on May 1st

By ED WHITEAssociated Press DETROIT (AP) - A former General Motors engineer convicted of stealing thousands of pages of hybrid technology was sentenced Wednesday to just a year and a day in prison, far below the punishment sought by the government in a case that involved her husband and an alleged

Judge gives major break in GM theft case

Submitted by Fox First at Ten on May 1st

Electric car maker CODA files for Chapter 11

Submitted by Fox First at Ten on May 1st

By ROBERT JABLONAssociated Press LOS ANGELES (AP) - Electric car maker CODA Holdings Inc. filed for bankruptcy protection Wednesday after selling just 100 cars and said it plans to quit the auto business altogether. The Los Angeles-based parent of CODA Automotive filed for Chapter 11 bankruptcy

Oil sinks on China manufacturing and US supplies

Submitted by Fox First at Ten on May 1st

By The Associated Press NEW YORK (AP) - The price of oil dropped more than 2 percent Wednesday, following disappointing economic news from the world's two biggest oil-consuming nations and a large increase in U.S. crude supplies. Benchmark oil for June delivery fell $2.43, or 2.6 percent, to

MasterCard reports higher Q1 profit, revenue

Submitted by Fox First at Ten on May 1st

By CHRISTINA REXRODEAP Business Writer NEW YORK (AP) - Payments processor MasterCard Inc. says its profit and revenue rose in the first quarter as its customers spent more. Profit beat the forecasts of Wall Street analysts, though revenue missed slightly and the company's stock fell in pre-

China automaker to open electric bus plant in CA

Submitted by Fox First at Ten on May 1st

By JOHN ROGERSAssociated Press LOS ANGELES (AP) - A Chinese company whose mantra is Build Your Dreams plans to build all-electric buses in California's Mojave Desert. Lancaster Mayor R. Rex Parris and officials of BYD Automotive scheduled a news conference Wednesday to announce plans to open

1st Chinese automaker in US to open Calif. plants

Submitted by Fox First at Ten on May 1st

By JOHN ROGERSAssociated Press LANCASTER, Calif. (AP) - The first Chinese-owned vehicle manufacturer in the United States unveiled ambitious plans Wednesday to eventually build as many as 1,000 plug-in electric buses a year at a refurbished RV manufacturing plant in a wind-swept, sage-dotted corner

Asia stocks down, China manufacturing growth slows

Submitted by Fox First at Ten on May 1st

By PAMELA SAMPSONAP Business Writer BANGKOK (AP) - Asian stock markets fell Wednesday in holiday-thinned trading after the pace of China's manufacturing growth slowed in April, raising fears of a weaker recovery in the world's second-largest economy. The China Federation of Logistics and

China manufacturing growth slows in April

Submitted by Fox First at Ten on May 1st

BEIJING (AP) - An industry group says manufacturing growth in China slipped in April as exports continued to decline, raising questions about the strength of recovery in the world's second-biggest economy. The China Federation of Logistics and Purchasing said Wednesday that its purchasing

IBM pulls the stock market out of a morning slump

Submitted by Fox First at Ten on April 30th

By MATTHEW CRAFTAP Business Writer NEW YORK (AP) - News that IBM will buy back more stock and raise its dividend helped pull major stock indexes out of a morning slump Tuesday. IBM and other technology stocks led the Standard & Poor's 500 index up. The broad-market measure ended April with