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Sep 14, 2015

Ford F-150 2016 model parts to be made of Alcoa’s Micromill aluminum

CHICAGO, Sept 14 (Reuters) – Ford Motor Co will begin
in the fourth quarter to use multiple components in its
high-selling F-150 pickup model made from an advanced Alcoa Inc
aluminum alloy that is tough enough to replace steel
parts yet significantly lighter, both companies said on Monday.

The two corporations also announced a joint development
agreement to collaborate on using next-generation aluminum
produced through Alcoa’s new “Micromill” process in other
vehicles.

Sep 14, 2015

Ford F-150 to get Alcoa’s Micromill aluminum parts starting Q4

CHICAGO, Sept 14 (Reuters) – Ford Motor Co will begin
in the fourth quarter to use multiple components in its
high-selling F-150 pickup model made from an advanced Alcoa Inc
aluminum alloy that is as tough enough to replace steel
parts yet significantly lighter, both companies said on Monday.

The two firms also announced they have entered into a joint
development agreement to collaborate on using next-generation
aluminum produced through Alcoa’s new “Micromill” process in
other vehicles.

Sep 9, 2015

United Continental CEO Munoz is no stranger to being the outsider

CHICAGO (Reuters) – Oscar Munoz, the new chief executive at United Continental Holdings Inc (UAL.N: Quote, Profile, Research, Stock Buzz), will be expected to persuade investors and employees that he can fix a complex business in an industry in which he has no experience. He’s done it before.

When Munoz, 56, arrived at CSX Corp (CSX.N: Quote, Profile, Research, Stock Buzz) in 2003, the Jacksonville, Florida-based railroad was struggling. CSX and Norfolk Southern had carved up Conrail, a large rail network in the U.S. Northeast, but CSX failed to consolidate Conrail’s operations and was essentially running two networks, with the worst safety record among the major railroads and the worst operating ratio.

Sep 9, 2015

New United Continental chief moves to calm investors, employees

Sept 9 (Reuters) – One day after ousting its chief
executive, United Continental Holdings Inc and its new
boss, Oscar Munoz, moved to reassure shareholders and employees
that the company is stable.

The airline also got a boost on Wednesday after acting Chief
Financial Officer Gerry Laderman said at an investor conference
that United is on track to save $1 billion in annual non-fuel
costs by next year and would complete a $1 billion share buyback
nearly two years ahead of schedule. UAL told investors it would
return $4 billion to shareholders by 2017.

Sep 9, 2015

United Continental CEO sets new tone, shares rise on improved outlook

By Alwyn Scott and Nick Carey

(Reuters) – United Continental Holdings Inc’s (UAL.N: Quote, Profile, Research, Stock Buzz) new chief executive, in his first communication to employees, promised to meet with as many workers as possible and “hear about operations directly from you,” a sharp contrast with ousted predecessor Jeff Smisek that drew cheers from investors and unions on Wednesday.

Oscar Munoz, who took over as chief executive on Tuesday, made the comments in a letter to United’s 84,000 employees, suggesting a new focus at the world’s second-largest airline that many thought would lead to better financial and operational performance.

Sep 8, 2015

U.S. manufacturers prevail upon parents to hire in-demand kids

CHICAGO, Sept 8 (Reuters) – When 17-year-old Brian
Dardon told his mother he wanted to pursue a career in
manufacturing, she was full of apprehension.

To Diane Dardon, a Protestant chaplain at a Chicago
university, manufacturing meant performing rote, unskilled tasks
with little job security.

Aug 28, 2015

Carmakers scramble to adapt to slowing Chinese demand

NEW YORK (Reuters) – China’s demand for luxury cars used to move in one direction – up. Now, the prospect of a sustained slump in Chinese demand, prompted by sharp declines in Chinese equity markets and a devaluation of the yuan, has global auto manufacturers scrambling to find new markets to sell goods.

German car makers are reviewing how many vehicles to send to China or the U.S., and U.S. dealers say they expect to get more Mercedes, Audi and BMW sport utility vehicles to sell as a result. A longer term slump could prompt automakers to export more vehicles from Chinese factories or absorb the short-term cost of production cuts, analysts said.

Jul 28, 2015

UPS second-quarter profit rises, tops estimate, despite lower revenue

CHICAGO (Reuters) – Package delivery company United Parcel Service Inc (UPS.N: Quote, Profile, Research, Stock Buzz) on Tuesday reported higher second-quarter net profit as improved margins offset a drop in revenue.

Shares in Atlanta-based UPS were up 2 percent at $97 in premarket trading.

Total revenue fell 1.2 percent from a year ago to about $14.1 billion in the quarter. UPS said the strong U.S. dollar and lower fuel surcharges hurt revenue growth during the second quarter. When main rival FedEx Corp (FDX.N: Quote, Profile, Research, Stock Buzz) reported quarterly results in June, the Memphis-based company said lower fuel surcharges had cut into revenue.

Jul 28, 2015

UPS 2nd-qtr profit rises, tops estimate, despite lower revenue

CHICAGO, July 28 (Reuters) – Package delivery company United
Parcel Service Inc on Tuesday reported higher
second-quarter net profit as improved margins offset a drop in
revenue.

Shares in Atlanta-based UPS were up 2 percent at $97 in
premarket trading.

Total revenue fell 1.2 percent from a year ago to about
$14.1 billion in the quarter. UPS said the strong U.S. dollar
and lower fuel surcharges hurt revenue growth during the second
quarter. When main rival FedEx Corp reported quarterly
results in June, the Memphis-based company said lower fuel
surcharges had cut into revenue.

Jul 23, 2015

Union Pacific CEO waiting for a consumer-led U.S. recovery

CHICAGO (Reuters) – Union Pacific Corp (UNP.N: Quote, Profile, Research, Stock Buzz), a railroad contending with declining coal, energy-related and agricultural freight volumes, sees some signs that consumer demand for cars and other big-ticket items will help boost business, its top executive said on Thursday.

“I’m optimistic they (consumers) will show up, but they have yet to take up the slack,” Chief Executive Officer Lance Fritz told Reuters.

    • About Nick

      "Nick Carey is a Chicago-based, British-born journalist who has covered everything from the near-collapse of the Big Three automakers to the U.S. housing crisis. Nick is currently on general assignment, reporting on the human impact of the recession. He previously spent ten years working in central and eastern Europe."
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