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Aluminum producer Alcoa Inc. said Thursday it will temporarily idle production at its two smelters in Italy, affecting about 2,000 workers, after a decision by the European Union left the company's ability to secure electricity for the plants at low rates uncertain.
Alcoa Inc. plans to invest more than $110 million at its Cleveland plant in part to refurbish a forging press used in the production of the F-35 Joint Strike Fighter plane.
Among the stock activity stories for Thursday, Oct. 29, from AP Financial News:
Alcoa Inc. said Thursday it is working with China on the development of the country's newest and biggest commercial jetliner.
Shares of Alcoa Inc. rose Thursday, a day after the aluminum maker surprised Wall Street with a third-quarter profit and an optimistic forecast for worldwide aluminum demand.
Painful cost-cutting and rising sales to automakers helped the nation's largest aluminum producer return to profitability for the first time in nine months.
Aluminum producer Alcoa said Friday that it has closed a deal to buy Australia-based BHP Billiton's bauxite and alumina refining operations in Suriname.
Alcoa Inc. said Wednesday executive chairman and former CEO Alain Belda will retire as an executive of the aluminum company effective Aug. 1, but will continue as board chairman until his term expires next year.
In an unofficial opening to the earnings season, Alcoa Inc. reported another quarterly loss but beat Wall Street expectations and said some markets for the metal may be stabilizing.
Alcoa Inc., the largest U.S. aluminum producer, said Monday it will curtail production and lay off 275 workers at a smelter in Canada if employees there don't agree to a 15 percent pay cut.
In a bleak start to the earnings season, Alcoa Inc. reported a quarterly loss of $497 million, as the stumbling global economy continued to erode prices and demand for the aluminum maker's products.
Alcoa Inc., the largest U.S. aluminum producer, reports first-quarter earnings on Tuesday. The following is a summary of key developments and analyst opinion related to the period.
Alcoa Inc. said Tuesday it plans to cut production at a plant in New York, but that an arrangement with the New York Power Authority will help it avoid mass layoffs.
For the first time in more than a quarter century, Alcoa Inc. is slashing its quarterly dividend as part of a plan to lower costs and bulk up its cash cushion amid the recession.
In a dismal prelude to the earnings season, Alcoa Inc. reported a quarterly loss of $1.19 billion Monday, days after the aluminum giant announced cuts due to sinking prices and demand for the metal.
Aluminum producer Alcoa Inc. is cutting roughly 13 percent of its global work force by the end of the year as it slashes costs in the face of a deteriorating world economy.
Aluminum producer Alcoa Inc. on Tuesday suspended its expansion of the Wagerup alumina refinery in Western Australia state and slashed its metal production as demand weakens due to the global credit crisis.
Alcoa Inc., the world's third-largest aluminum producer, on Tuesday reported a 52-percent drop in third quarter profit and said it would conserve cash by suspending its stock buyback program and all non-critical capital projects.
Alcoa Inc., the world's third-largest aluminum producer, ushered in the second-quarter earnings season by posting a 24 percent earnings decline as rising production costs eroded profits, but the results still exceeded analysts' expectations.
Alcoa Inc. unofficially opened the first-quarter earnings season by reporting profits sank by more than half as higher costs and a swooning U.S. dollar weighed down results, but executives said the company's future is bright.
A civil lawsuit alleging that Alcoa Inc. bribed officials in the Persian Gulf state of Bahrain was put on hold so that U.S. investigators can conduct a criminal investigation of the aluminum maker.
Federal prosecutors have launched an investigation into allegations that Alcoa Inc. and affiliates bribed officials in the Persian Gulf country of Bahrain to secure hundreds of millions of dollars in overpayments.
Alcoa Inc. and Aluminum Corp. of China jointly acquired 12 percent of the shares of global mining company Rio Tinto PLC in a deal believed to be worth $14.05 billion, the companies said Friday.
Alcoa Inc., the world's third-largest aluminum maker, kicked off earnings season by posting a 76 percent profit gain for the fourth quarter as the pending sale of its consumer and packaging businesses offset lower prices.
Aluminum maker Alcoa Inc. has been awarded a $360 million contract by the defense contractor Lockheed Martin Corp. to supply parts for new stealth fighter jets that will replace aging military planes.
Iceland's secret belief: More than half of all Icelanders think elves may existSurely Icelanders don't believe in Elves? It's a matter of earnest debate on the New York Mag where John Moody, who lives in Iceland responds to this Vanity Fair article on the country's financial meltdown.
Alcoa to Slash 13, 500 Jobs And Cut Production Aluminum producer Alcoa Inc said on Tuesday it will curtail metal production by about 18 percent and cut some 15,200 jobs to save cash and reduce costs as it seeks to counter the impact of the global economic downturn.
WWF names and shames power firmsA study by the World Wide Fund for Nature (WWF) has accused several Australian power generators of doing next to nothing to prepare for a low-carbon future. Nineteen of Australia's power firms were assessed on the work they are doing to reduce their carbon emissions.
Recession takes hold in USWSWS reports: The US stock market plunged Friday on news that General Electric's first-quarter 2008 profits fell far below the company's projections.
Boeing sues Alcoa over parts for F-22 Raptor fightersSome of the U.S. Air Force's new F-22 Raptor fighter jets are flying with a manufacturing defect in crucial titanium supports in a section built by Boeing.
200 people join legal action against AlcoaAbout 200 residents in Yarloop, south of Perth, have joined legal action against Alcoa instigated by American anti-pollution campaigner Erin Brockovich.
Erin Brockovich to announce action against AlcoaAmerican public health campaigner Erin Brockovich is set to announce legal action against Alcoa's Western Australian refinery.
I just wanted to juxtapose two situations that are similar but very different. The first relates to a person who lost their job when the factory he worked at closed.
Chelan PUD Approves Alcoa contractChelan County PUD commissioners today approved a 17-year contract that Alcoa officials say will expand production, add 60 jobs and secure the future of the Wenatchee Works aluminum smelter.
Alcoa, Alumina Rise as Alcan Deal May Spur TakeoversShares of Alcoa Inc. and Alumina Ltd., partners in the world's biggest alumina venture, rose to records on speculation that Rio Tinto Group's $38.1 billion bid for Alcan Inc. will spark more aluminum-industry takeovers.
Alcoa shares soar on talk of takeover bid by BHPThis would be a killer deal that would have a huge impact on the global aluminium industry. With a new, young and brash CEO on the horizon, BHP-Billiton is spoiling for some takeovers and Alcoa seems to be a bit more palatable for an appetiser than Rio Tinto.
NewsVisual - BHP Billiton's Reach into Alcan is Weaker than Alcoa'sBHP Billiton has emerged as a new bidder for Alcan. IntellectSpace's Knowledge Map illustrating BHP's reach into Alcan shows that it is a significant bidder, as its network has a direct reach into Alcan's leadership team.
M&A Mania - Alcan Courts BHP to fend off unwanton Alcoa "A combination of the two aluminum producers would create a company with $54 billion in revenues and clinch Alcoa's spot as the world's largest producer of aluminum and its feedstock, alumina.
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