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Ontario's Economic Development Minister says risk management will be on his mind when he heads to the U.S. this week to learn more about how the U.S. government intends to help the struggling North American auto industry.
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Updated at 4:15 p.m. Shares of General Motors and Ford Motor jumped around midday Thursday after a Senate Democratic aide said four senators had reached an agreement on a bipartisan deal to bail out the auto industry. But the rally faded after Democratic Congressional leaders said Thursday afternoon that the executives of America’s foundering automakers had failed [...]
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Lawmakers failed to reach agreement today on a proposal to provide $25 billion in emergency aid to the ailing auto industry, but they left open the possibility that they could come back after Thanksgiving and try again.
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Chances of a billion-dollar bailout deal for US carmakers improved after downbeat reports on US jobs spurred talks between the White House and Democratic lawmakers.
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An agreement between the White House and congressional Democrats over the shape of a rescue plan appears imminent.
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White House has stringent requirements for any aid given to automakers.
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WASHINGTON (Reuters) - The fate of the U.S. auto industry and millions of jobs are on the line as major players work out details on Tuesday of a plan to extend emergency loans to the Big Three automakers in exchange for tougher oversight.
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Automakers will get 15 billion US dollars, far less than they were asking for, and must agree to a "car czar" to oversee how bailout money is spent.
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WASHINGTON (Reuters) - Negotiators from Congress and the White House pushed to clinch a deal on Tuesday that would clear the way for a $15 billion bailout of U.S. automakers, making them answer to a federal "car czar" and count the government as their largest shareholder.
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Congressional leaders continue to negotiate over a proposed $15 billion bailout of U.S. automakers, as Republicans raise deep concerns.
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The realignment of the auto industry described by Barack Obama sounds perilously close to a word no one in his camp wants to say: nationalization.
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With less than six weeks left in President Bush’s term, it was unclear if the White House would be able to generate Republican support for the proposal, which is crucial in the Senate.
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WASHINGTON -- Weary Democratic congressional leaders and White House officials pushed to clear the final obstacles to a $15 billion bailout of U.S. automakers Tuesday night, but the rescue plan faced new snags as Republicans raised deep concerns.
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The White House and congressional Democrats on have reached an agreement in principle on a 15 billion proposal for bailing out US carmakers.
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The White House and Congress said on Tuesday they had agreed on the outline of a 15-billion-dollar bailout plan for the US auto industry but added that negotiations on the content of the future bill were still going on.
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Weary Democratic congressional leaders and White House officials agreed in principle Tuesday on a $15 billion bailout of U.S. automakers that would give the government extraordinary power to restructure the floundering industry.
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WASHINGTON (AP) -- A government "car czar" with the power to force U.S. automakers into bankruptcy would dole out $15 billion in emergency loans to the failing industry under an emerging deal between the White House and congressional Democrats....
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WASHINGTON -- Weary Democratic congressional leaders and White House officials agreed in principle Tuesday on a $15 billion bailout of U.S. automakers that would give the government extraordinary power to restructure the failing industry. But the rescue faced snags as Republicans raised deep concerns.
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Democrats drop provision that would have forced automakers to stop funding lawsuits against state limits on greenhouse emissions. Skeptical Republicans could give the bill a tough road in the Senate. The White House said this morning it had finalized a deal with congressional Democrats to provide $14 billion in emergency loans to U.S. automakers with strict oversight that would require restructuring plans or bankruptcy by the spring.
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The latest on Congress' rescue of America's automotive industry.
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CHICAGO (Reuters) - President-elect Barack Obama said on Thursday he hoped a congressional deal to bail out the struggling U.S. auto industry could be reached this week, saying again that Detroit's "Big Three" automakers could not be allowed to collapse.
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Instead of coming together to craft a plan to stave off a Big Three bankruptcy, Republicans and Democrats seem to be moving further apart
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A 14billion emergency bailout for American carmakers has collapsed in the Senate after the United Auto Workers refused to accede to Republican demands for swift wage cuts.
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A bipartisan group of senators have reached a tentative agreement on an emergency 14 billion bailout for US carmakers.
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The White House said it will not make an announcement on the auto bailout by Monday.
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WASHINGTON -- In another about-face, the Bush administration says Congress needs to free up the second half of the $700 billion federal bailout. And now that automakers are getting a share, the floodgates are almost certain to open for other nonfinancial industries that want government help.
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Among the many potential problems that would await a merger of General Motors and Chrysler is this: auto workers' unions in the United States and Canada might oppose such a deal.
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Following reports that it is considering making a new offer for Yahoo! (YHOO), Microsoft (MSFT) has bounced off its lows of the day and is currently trading at $22.75 up $0.09 from Wednesday's close.
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The two most troublesome phrases in German politics right now are "rescue package" and "stimulus program."
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The national push to wean the country from imported fuel by adding American-brewed ethanol to gasoline has come at a cost: The flammable liquid is being transported through residential neighborhoods, catching off guard many communities that are unprepared to fight potential fires. Some are having to...
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WASHINGTON (Reuters) - Republican presidential candidate John McCain on Sunday declined to embrace the idea of $15 billion more in government aid for the struggling U.S. automobile industry but did not rule it out.
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Workers at the Winnipeg Free Press who have been walking the picket line for two weeks will vote on a new offer from the company on Tuesday.
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