Business News

PHILADELPHIA, Nov. 7 (UPI) -- Pennsylvania Gov. Edward Rendell says a tentative agreement could end Philadelphia's transit strike by Saturday night.

Wal-Mart prepares for Christmas price cuts ... British Airways to lay off 4,900 workers ... Jobs picture surpasses early '80s lows ... Citigroup issues employees stock options ... News from United Press International.

BENTONVILLE, Ark., Nov. 7 (UPI) -- Wal-Mart is preparing a round of Christmas-season price cuts that are making smaller U.S. competitors nervous, analysts say.

LONDON, Nov. 7 (UPI) -- A disastrous summer is prompting British Airways to lay off about 4,900 workers, or 12 percent of its staff, company officials say.

WASHINGTON, Nov. 7 (UPI) -- The levels of U.S. unemployment and underemployment announced this week has made it official that joblessness is worse than in the early 1980s, analysts say.

NEW YORK, Nov. 7 (UPI) -- The giant U.S. bank Citigroup says it is distributing stock options to its employees in a bid keep them on board at the bailed-out institution.

LONDON, Nov. 6 (UPI) -- The Asda supermarket chain, Britian's second-largest, Friday recalled its Wholefoods brand of Garland Figs because of a larvae infestation, the company said.

BEIJING, Nov. 6 (UPI) -- Chinese trade officials said the Ministry of Commerce would investigate U.S. vehicle imports for anti-competitive trade practices.

U.S. markets gains hold up Friday ... GM could deploy U.S. funding overseas ... Chrysler wins over a key executive ... 200 Waldenbooks outlets to close ... News from United Press International.

CHICAGO, Nov. 6 (UPI) -- Grain futures closed lower on the Chicago Board of Trade Friday as stocks were flat in New York on news the U.S. unemployment rate reached 10.2 percent.

NEW YORK, Nov. 6 (UPI) -- The price of light, sweet crude fell under $78 per barrel Friday as equities stayed flat in New York on news unemployment rose to 10.2 percent in October.

NEW YORK, Nov. 6 (UPI) -- Narrow gains held up in U.S. markets Friday, despite news the unemployment rate rose to 10.2 percent.

WASHINGTON, Nov. 6 (UPI) -- Outstanding consumer credit fell by $14.8 billion in September, dropping for the eighth consecutive month, the U.S. Federal Reserve said Friday.

LONDON, Nov. 6 (UPI) -- Individual bankruptcies in Britain rose in the third quarter, while business bankruptcies declined, a government agency said Friday.

DETROIT, Nov. 6 (UPI) -- General Motors Co. Chief Executive Officer Fritz Henderson said the U.S. automaker could use federal money to support its struggling European operations.