Weak dollar lifts factories fueling April manufacturing boom
The Institute for Supply Management reports April manufacturing activity up for the 21st straight month with an index of 60.4 as exports rise 7.8 percent. Forecasters credit a weaker dollar and strong demand for machinery, equipment, and vehicles, though construction lags and profit margins face pressure.
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Chrysler Posts First Profit Since 2006 in Q1 2010
Chrysler reports a 116 million dollar net profit on 13.1 billion in revenue for the first quarter, its first since 2006. Detroit automakers GM Ford also show gains after bankruptcy and government aid, with GM IPOs and Ford reaching strong profits amid rising sales and recall woes for Toyota.
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Ohio gas tops records before weekend dip
Ohio motorists paid an average 4.09 per gallon for regular gasoline, 2 cents below Saturday's all time high of 4.11 as prices rose 23 cents in a week. Analysts expect prices to ease in coming weeks with Memorial Day in view.
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Southwest grows up to rival major airlines with AirTran purchase
Southwest Air completes a 1 billion buy of AirTran Airways expanding its Atlanta hub and adding Reagan National and LaGuardia gates. The move boosts passenger traffic, targets business travelers, and positions Southwest against Delta United Continental in capacity while keeping a rising fare trend.
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Honda to cut production of new Civic and other models
Honda Motor Co warned U.S. dealers it will run short of popular models including the Civic due to parts shortages from Japan's earthquake. Production may not fully normalize until year end with delays to the 2012 Civic and CR-V, while 2011 models stay in production.
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