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U.S. markets recover from steep losses
WINDSOR, Ontario, May 12 (UPI) -- General Motors of Canada President Arturo Elias announced Monday a transmission plant closure in the Ontario city of Windsor will cut 1,400 jobs in 2010.
In a statement, Elias said after contract talks with the Canadian Auto Workers union, there were "no available replacement products in the relevant time frame for this location," the Globe and Mail reported.
Within the last two weeks, GM Canada also announced the closing of a shift and lay-off of 900 workers at its pickup truck plant in Oshawa, Ontario, in September.
Union president Buzz Hargrove told reporters the union couldn't make the closure a strike issue because the CAW also couldn't identify anything else the 63-year-old plant could manufacture, The Toronto Star reported.
The Windsor plant assembles four-speed transmissions for Chevrolet Malibu and Saturn Vue and Aura vehicles, but the GM statement said the market is shifting to more fuel-efficient six-speed transmissions. The Star said.
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CANBERRA, Australia, May 23 (UPI) --
Australia has passed legislation establishing the $10 billion Clean Energy Finance Corp. to provide grants and government investment to green projects.
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NEW DELHI, May 24 (UPI) --
India's state-run National Aerospace Laboratory will work with Kadet Defense Systems to develop NAL's Hansa trainer aircraft into an unmanned airial vehicle.
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The housing inventory rose slightly in April, which is unusual in the middle of the spring sales season. The uptick may be the result of rising seller confidence and it should ease concerns that the super tight inventory levels of the last six months...
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What if Europe turned out to be the new Japan?
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