WASHINGTON - U.S.-based Eastman Kodak Company, synonymous with photography for more than a century, has declared bankruptcy, eclipsed by the very technology it helped create.
 
The 132-year-old company that once dominated the camera and film industry has not turned a profit since 2007. The appeal of its film and handheld cameras has been overtaken by that […]

WASHINGTON - American Airlines’ parent company has filed for bankruptcy after failing to secure a deal with pilots to cut labor costs.
 
The nation’s third largest airline said Tuesday it sought bankruptcy court protection to reduce its costs and debt to competitive levels. The airline said normal flight operations will continue during a reorganization.
 
American had been […]

HONG KONG - Boeing’s long-awaited 787 Dreamliner landed in Hong Kong Wednesday on its first commercial flight, more than three years after the revolutionary aircraft had been scheduled to go into service.
 
Passengers paid premium prices to be on board for the flight from Tokyo. The plane’s unique design, which uses lightweight composite materials to make […]

WASHINGTON - Four major U.S. tobacco companies are suing the federal government, saying that forcing them to put graphic warning labels on cigarette packages is unconstitutional.
 
The companies say the new rules violate their right to free speech.
 
An attorney representing Lorillard Tobacco Co. says the government can engage in all the anti-smoking advocacy it wants in […]

WASHINGTON - The U.S. oil industry is seeking to pressure the Obama administration into reconsidering its decision to limit offshore drilling along U.S. coasts - a decision made following the BP oil spill disaster last year. 
A new study commissioned by the American Petroleum Institute says oil demand in the U.S. will grow by 50 percent […]

NEW ORLEANS - It is a nearly cloudless early June morning on Caminada Bay, Louisiana, aboard a boat surrounded by marshlands and pelicans.
Dolphins appear alongside the boat as 72-year-old Wilbert Collins guides the way through the reefs.
Scanning the horizon, there is no apparent oil sheen. All the eye can see is what appears to be […]

WASHINGTON - U.S. aircraft manufacturer Boeing is boosting production of its large passenger jets to meet increasing demand as the airline industry recovers from recession.  Industry experts say demand will grow in 2010 after falling in 2008 and 2009.  But an aviation consultant says the optimism may be premature. 
After losing nearly $10 billion last year, […]

WASHINGTON - A panel of federal judges in San Diego, California is expected to rule on whether to consolidate a large number of lawsuits filed nationwide against Toyota.
Toyota has been inundated with lawsuits due to safety concerns that have led to the recall of more than eight-and-a-half million vehicles worldwide. Federal judges in California will […]

WASHINGTON - Northrop-Grumman has given up a lengthy effort to win a huge contract to build the next generation of aerial refueling tankers for the U.S. Air Force.
The contract covers nearly 200 planes and is worth tens of billions of dollars over the next two decades.
Northrop had teamed up with Europe-based Airbus to compete for […]

WASHINGTON - Akio Toyoda entered a packed congressional hearing room to deliver a simple message:
“I am deeply sorry for any accidents that Toyota drivers have experienced,” said Akio Toyoda.
The Toyota CEO acknowledged that the public’s confidence in the company that bears his family name has been shaken, and said he takes “full responsibility” for the […]

WASHINGTON - Outraged U.S. lawmakers are questioning top Toyota executives about the recall of more than eight million vehicles over concerns the cars could accelerate suddenly, putting drivers and passengers in danger. Some even accuse the Japanese auto giant of ignoring the pleas of its customers to investigate problems with runaway cars.
Lawmakers wasted no time, […]

WASHINGTON - President Barack Obama wants the United States to move more quickly to increase its reliance on alternative fuels. A presidential panel advocates greater use of biofuels and clean coal technology.
President Obama says the U.S. should depend less on oil and more on so-called clean energy.
He says the country which builds a clean energy […]

TOKYO - Japan Airlines has filed for bankruptcy protection after struggling for years. The largest airline in Asia will continue operating flights but the Japanese government is acting quickly to pull JAL out of its economic mess.
Japan Airline’s bankruptcy filing is one of Japan’s largest corporate failures in decades.
The former state-owned carrier once symbolized the […]

WASHINGTON - The largest business federation in the United States is calling on leaders in government, business and labor to unite around an ambitious goal of creating 20 million jobs over the next decade. 
In his annual state of American business address Tuesday in Washington , U.S. Chamber of Commerce President Thomas Donohue noted encouraging signs […]

WASHINGTON - A massive storm that dumped about a half-meter of snow from Virginia to Maine did more than frustrate motorists.  It added to the woes of retailers that were already bracing for weak holiday sales as the United States struggles to emerge from the deepest and longest recession of the post-World War II era.
The […]

EVERETT - The new Boeing 787 took off for its first test flight Tuesday.
The long passenger plane with slender wings was painted blue and white.  Its engines made a low-pitched whine as it took off and rose quickly into cloudy skies. 
The plane is supposed to be more fuel-efficient, quieter and put out less pollution than […]

BAGHDAD - Iraq awarded a contract Saturday to Russia’s Lukoil and Norway’s Statoil to develop its gigantic West Qurna Phase Two oil field.
The two companies’ joint bid said they would accept a fee of $1.15 per barrel of oil produced.  The companies proposed a projected output target of 1.8 million barrels per day.
Southern Iraq’s West […]

BAGHDAD - The Iraqi government has decided to award a contract to develop the prized West Qurna oil field to a consortium led by the U.S. oil company Exxon Mobil.
The Iraqi oil ministry Thursday announced an agreement to give the companies, which include Royal Dutch Shell, a 20-year contract to develop West Qurna. The field […]

WASHINGTON - A top Treasury Department official has ordered pay cuts for the 25 highest-paid executives at seven companies that received government bail-outs.  But he says he doesn’t want broader powers to reduce salaries in the rest of the U.S. financial sector.
Call him the pay czar. That’s what some members of Congress did when lawyer […]

MIAMI - President Barack Obama traveled to Florida on Tuesday to help unveil the nation’s largest solar power plant. Advocates of renewable energy hope the new plant will spur further development in the field.
Florida energy officials led President Obama through the maze of more than 90,000 solar panels that make up the new energy plant […]

PARIS - German Chancellor Angela Merkel hailed today the decision by US auto maker General Motors to sell its troubled German-based Opel unit to a Canadian auto firm.
Chancellor Angela Merkel saluted the decision of Detroit -based General Motors to sell its Opel unit to Magna International at a press conference in Berlin.
Ms. Merkel told reporters […]

WASHINGTON - Automakers struggling to lure prospective car shoppers in the depressed U.S. market received a helping hand from the US government Monday. The Department of Transportation’s Car Allowance Rebate System or CARS made its official debut in Washington. Starting Monday, car buyers wishing to trade in their older vehicles for a newer model could […]

WASHINGTON - The U.S. auto giant General Motors emerged from bankruptcy Friday, and GM officials announced extensive changes designed to win back consumers and restore the luster of what has long been one of the country’s most prestigious corporations.  
After 40 days of bankruptcy, Chief Executive Fritz Henderson told a news conference in Detroit, Michigan, that […]

DETROIT - The U.S. automaker General Motors filed for bankruptcy Monday as part of a government-led plan to restructure the struggling 100 year-old company.
The company filed for court protection from creditors after spending months trying to restructure its business plan to become more profitable.
Despite receiving billions of dollars in government aid, GM has failed to […]