Business News Briefs: Westinghouse moves forward on Bulgarian nuclear deal
August 2, 2014 12:00 AM
In this July 3, 2014 photo, a construction worker builds housing for students near Drexel University in Philadelphia. The Commerce Department reports on U.S. construction spending in June on Friday, Aug. 1, 2014. (AP Photo/Matt Rourke)
This undated photo provided by Hyundai shows the 2005 Hyundai Santa Fe. Hyundai is recalling more than 419,000 cars and SUVs to fix suspension, brake and oil leak problems. The biggest of three recalls posted Friday, Aug. 1, 2014, by U.S. safety regulators is of 225,000 Santa Fe SUVs from 2001-2006 to replace front coil springs that can rust and crack in cold-weather states. The springs can fracture and make contact with a tire, potentially causing a crash. (AP Photo/Hyundai)
In this July 16, 2014 photo, a welder fabricates anchor bolts for roads and bridges at the custom manufacturer Fox Company Inc. in Philadelphia. The Institute for Supply Management, a trade group of purchasing managers, issues its index of manufacturing activity for July on Friday, Aug. 1, 2014. (AP Photo/Matt Rourke)
This product image provided by Harley-Davidson shows a 2014 FXDL Dyna Low Rider motorcycle. Harley-Davidson is recalling more than 3,300 FXDL Dyna Low Rider bikes because engine vibration can turn the switches from "run" to "accessory." The recall covers motorcycles from the 2014 ½ model year. (AP Photo/Harley-Davidson)
In this July 18, 2014 photo, Dawn Heigl, a waitress at The Harp, serves food at the restaurant in Wilmington, N.C. The Commerce Department reports how much U.S. consumers spent and earned in June on Friday, Aug. 1, 2014. (AP Photo/The Star-News, Matt Born)
From staff and wire reports
Westinghouse moves ahead on Bulgarian deal
Westinghouse Electric Co. took another step toward a deal to build an AP1000 nuclear plant in Bulgaria for the expansion of the Kozloduy Nuclear Power Plant. The Cranberry nuclear company signed a shareholder agreement with Bulgarian Energy Holding, a state-owned company, for the project after nearly eight months of negotiations. The deal paves the way to obtain financing and other key agreements, according to Westinghouse. The AP1000 reactor is slated to be online by 2023.
Harley recalls bikes
Ignition switch problems that have plagued General Motors and Chrysler have now turned up in the motorcycle business. Harley-Davidson is recalling more than 3,300 FXDL Dyna Low Rider bikes from the 2014 model year because engine vibration can turn the switches from “on” to “accessory.”
Hyundai recalls cars, SUVs
Hyundai is recalling more than 419,000 cars and SUVs to fix suspension, brake and oil leak problems. The biggest of three recalls posted Friday is of 225,000 Santa Fe SUVs from 2001-2006 to replace front coil springs that can rust and crack in cold-weather states. The Korean automaker also is recalling 133,075 Sonata midsize cars from 2011 because brake fluid can leak and cause increased stopping distances and 61,122 Veracruz SUVs from 2007 through 2012 because oil can leak from a valve cover gasket onto the alternator, causing it to fail.
Ampco-Pittsburgh reports flat sales in 2nd quarter
Ampco-Pittsburgh reported a second quarter profit of $1.1 million, or 11 cents per share, comparable to results in the year-ago quarter. The industrial products company said sales were flat at $69.9 million.
Consumer spending rises 0.4 percent in June
Consumer spending increased 0.4 percent in June on a seasonally adjusted basis following increases of 0.3 percent in May and 0.1 percent in April, the Commerce Department said Friday.
Construction spending falls 1.8 percent in June
Construction spending fell in June by the largest amount in more than three years as housing, non-residential construction and government spending all weakened. Construction spending dropped 1.8 percent in June on a seasonally adjusted basis after rising by a revised 0.8 percent in May, the Commerce Department reported Friday. It was the biggest setback since a 2.8 percent fall in January 2011.
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