U.S. solar panel makers cry foul against ChinaSeven U.S. solar panel makers filed a broad trade case in Washington against the solar panel industry in China, accusing it of using billions of dollars in government subsidies to help gain sales in the U.S. market. The companies also accused China of "dumping" solar panels in the United States for less than it costs to manufacture and ship them. The trade case, filed at the Commerce Department, seeks tariffs of more than 100 percent of the wholesale import price.
UAW workers ratify new contract with FordFord Motor Co. will pay its unionized employees some $400 million in bonuses and profit sharing within the next month after they ratified a new four-year labor agreement. The United Automobile Workers union said that the contract had passed, with 63 percent voting "yes." Early on, the deal appeared in danger of being rejected, after several large plants turned it down. But workers who had weighed in since Friday were overwhelmingly in support.
Abbott Labs to spin off its drug businessAbbott Laboratories, long known for selling a mix of drugs, medical implants and baby formula, will spin off its branded drug business and become two separate companies with more distinct identities. The split frees Abbott from the risks and obligations of developing innovative pharmaceutical drugs, leaving the company with a more predictable business built around nutritional formula, generic drugs and heart stents.
Consumer inflation slowed to 0.3% last monthA rise in food and energy prices pushed up the index for consumer prices in the U.S. in September, though the increase was slower than in August. The Labor Department said the overall consumer price index rose 0.3 percent last month compared with a 0.4 percent increase in August. Gasoline prices rose at a faster pace, while the increase in food prices slowed. The core CPI, which strips out such volatile categories, increased 0.1 percent in September, its smallest rise since March.
U.S. housing starts rose 15% in SeptemberBuilders began work on more U.S. homes than forecast in September on rising demand for apartments and condominiums as more Americans become renters. Housing starts climbed 15 percent to 658,000 houses at an annual rate, the most since April 2010, Commerce Department figures showed. The median forecast in a Bloomberg News survey called for a 590,000 pace. Beginning construction of multifamily dwellings surged to the highest since October 2008.
Google rolls out new version of AndroidGoogle Inc. unveiled the first device running the new version of its Android software, stepping up competition with Apple Inc. and seeking to win over developers by making it easier to write programs that run on both phones and tablets. The new Android, dubbed Ice Cream Sandwich, was unveiled in Hong Kong. The latest Android incarnation pitches facial recognition programs that enhance security and photo sorting.
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