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Chrysler and GM need to follow Lee Iacocca's play book now as they try to outlast the debate in Washington over whether they will get billions in government loans.
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General Motors Corp. and Chrysler LLC have held preliminary talks about a merger or an acquisition of Chrysler by GM, according to published reports late Friday.
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General Motors and Chrysler, bruised by the severe industry downturn, have held preliminary discussions about combining operations, including a full-scale merger, according to people familiar with the talks. It was unclear over the weekend whether the discussions were progressing and what, if anything, would result.
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Chrysler said Friday it will eliminate one shift at its Windsor, Ont., assembly plant over the next three weeks.
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US auto groups take the rare step of offering discounts on their newest models as they gear up for a ferocious battle for the hearts and wallets of North American pick-up truck buyers
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Chrysler is to cut 1,825 jobs in the US as the global slowdown takes its toll on the car industry.
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Ontario will run a deficit of $500 million this year rather than make steep spending cuts to cope with an uncertain economic future, Finance Minister Dwight Duncan said Wednesday. "We are in the midst of a global economic crisis not imagined a few short weeks ago. It is spilling over into the real economy impacting Ontario families and businesses," Duncan said at the legislature while delivering his fall economic outlook. Full story What about you personally? Are you prepared to go into deficit or will you be making cuts from your own budget?
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General Motors and Chrysler announced plans for more cutbacks Thursday as they continued to shrink their operations ahead of a possible merger, The New York Times’s Nick Bunkley reports from Detroit. Chrysler said it would lay off about 1,825 workers at the end of this year by eliminating one of two shifts at an Ohio plant [...]
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The employment carnage in the ever-shrinking U.S. auto industry continued Thursday as Chrysler LLC announced it would get rid of 1,825 factory jobs and General Motors Corp. trimmed some benefits and said it would make further white-collar cuts.
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General Motors and Chrysler announced further economies as the biggest and smallest of Detroit's three carmakers race to conserve liquidity amid a deepening slump in vehicle sales
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US car firm Chrysler continues its cost-cutting by unveiling plans to axe 25% of its white collar workforce by the of end of 2008.
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Oct. 24 - As global auto sales stall, General Motors and Chrysler announce cuts and intensify merger discussions.
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DETROIT/PARIS (Reuters) - A worsening global auto downturn has forced deep salaried job cuts at Chrysler, where merger talks with General Motors Corp intensified on Friday, and a warning at France's PSA Peugeot Citroen.
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Chrysler said it will cut 25% of its salaried work force starting next month.
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AUSSIE Home Loans today moved to lower its variable interest by 50 basis points - representing a saving of $125 a month on a $300,000 mortgage.
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NEW YORK/DETROIT (Reuters) - A deal to merge General Motors Corp and Chrysler LLC has hit an impasse after the Bush administration ruled out funding for it, three people with direct knowledge of the talks said.
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NEW YORK/DETROIT (Reuters) - A deal to merge General Motors Corp <GM.N> and Chrysler LLC has hit an impasse after the Bush administration ruled out funding for it, three people with direct knowledge of the talks said.
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The European Central Bank cut borrowing costs by half a percentage point to 3.25% and the Bank of England slashed 1.5 percentage points off its main rate to 3%
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TECHNOLOGY departments will probably be among the first to be reviewed as organisations slash costs to ensure their survival.
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Fishermen are continuing to deplete fish populations across the northeastern Atlantic, the European Commission said Monday. It proposed deep cuts in 2009 catches for almost 30 species and a ban on fishing for several others.
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The world's leading mobile phone group cut its revenue forecast for the second time in four months and unveiled a £1bn cost cutting programme as it reported interim results
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Further deep cuts in benchmark UK interest rates look extremely likely following the Bank of England's projection yesterday that recession will drive benchmark inflation below 1% within two years.
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Pound hit hard as Bank of England opens the door to deep interest rate cuts.
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Some of the nation’s largest banks sharing in the $700 billion bailout of the financial industry tried to assure lawmakers Thursday they are using the money to make more loans.
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Sun Microsystems has started a restructuring that could see up to 6,000 employees lose their jobs as it joins a growing list of technology companies reeling from the crisis.
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The scale of the job cuts at what was once the world's biggest bank shows Vikram Pandit means business writes James Quinn.
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General Motors of Canada will cut a second week of production at its Oshawa car plant in January, and may move up the timeframe for shuttering its Oshawa truck plant to May from July, a union official said.
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Amid recession in Eurozone, annual inflation eased more than expected in November, giving room for further rate cuts. The jobless rate increased to two-year high in October, official data showed. A flash estimate released by the Eurostat on Friday said annual inflation in 15 nation economy eased to 2.1% in November from 3.2% in October. Inflation slowed more than the expected rate of 2.4%. Inflation would have benefited from lower commodity prices.
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Canada's Environment Minister Jim Prentice says he will not commit to what he calls unrealistic targets when he attends climate change talks in Poland this week.
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The New Brunswick government will slash corporate income tax rates to the single digits, giving the province the lowest corporate tax levels in Canada, Finance Minister Victor Boudreau said on Wednesday.
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US car manufacturer Chrysler said it would put manufacturing on hold until "no sooner than January 19" as it waits for a government bailout, after President George W. Bush warned he was not interested in "putting good money after bad".
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Dec. 17 - OPEC made its deepest production cut ever, amid lagging worldwide demand, but prices remain in a slump.
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