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U.S. markets recover from steep losses
TORONTO, Dec. 22 (UPI) -- Unionized Canadian autoworkers could face pay cuts of as much as $25 per hour, and the Canadian Auto Workers union says it appears there's little to negotiate.
In an interview with the Globe and Mail, CAW President Ken Lewenza said much hinged on what U.S. President George Bush mandated in the $17.4 billion automotive bailout. He said if Chrysler, Ford and General Motors were ordered by Bush to bring U.S. United Auto Workers pay scales in line with Japanese auto workers, pay cuts would be unavoidable in Canada.
The Canadian government and provincial government of Ontario announced Saturday they were offering $4 billion in loans to car makers, one-fifth of the U.S. amount.
"When you include our productivity, when you include some of the advantages we have in Canada, we're in pretty good shape, but that doesn't stop the fact that you have to watch what people are doing throughout the world," Lewenza said.
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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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