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U.S. markets recover from steep losses
TORONTO, Dec. 20 (UPI) -- Canadian Auto Workers says the union will resist if Canada's $4 billion automaker rescue package calls for deep concessions from its members.
The CAW was awaiting details of the bailout announced Saturday in step with the $17.4 billion U.S. rescue package for Detroit car makers, The (Toronto) Globe and Mail reported.
Canada will provide about $4 billion -- equal to $3.3 billion in U.S. dollars -- to Canadian subsidiaries of the U.S. automakers, Canadian Prime Minister Stephen Harper said Saturday, noting 400,000 residents of Ontario have jobs related to the auto industry.
While the United States is seeking deep givebacks from automakers and their workers, Canadian Auto Workers President Ken Lewenza said he is concerned Canadian autoworkers may be unfairly targeted by the conditions attached to the U.S. package.
"This isn't about wages and benefits of workers. We could work for nothing and we wouldn't sell another vehicle," Lewenza said.
Industry observers, however, said Canada has no choice but to follow the United States and seek concessions to bring labor costs in line with those proposed by Washington.
"Our governments would be crazy to not force" the same conditions, said Dennis DesRosiers, president of DesRosiers Auto Consultants.
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DAMASCUS, Syria, May 24 (UPI) --
The Syrian government has lost about $4 billion since September because of sanctions placed on oil exports, the country's petroleum minister said.
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LISLE, Ill., May 24 (UPI) --
A new special operations tactical vehicle has been unveiled by three U.S. companies.
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First-time buyers are driving the expectations that a recovery has begun. Their numbers and market share are growing despite financing roadblocks and competition with investors for entry-level homes. ...
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It is a whole new ball of wax in Europe these days.
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