Autoworkers Target Chrysler
The Canadian Auto Workers chose DaimlerChrysler's Chrysler Group as its next bargaining target. Union President Basil E. Hargrove said a strike is likely because of proposed job cuts.
Hargrove said the automaker would cut 2,500 jobs in Canada, which would represent 22 percent of the union's members at Chrysler. Hargrove, who set a Sept. 20 deadline, said there is "no way to avoid a strike" unless the company relents on demands to hire contractors for work at Canadian plants.
E.U., U.S. Farm Talks Progress
U.S. and European Union trade officials reported progress on resolving differences over subsidized agriculture.
After a meeting in Washington, U.S. Trade Representative Rob Portman and E.U. Trade Commissioner Peter Mandelson said they would present their proposal to other trade negotiators in a few days for ideas on how to adapt a plan by the largest developing countries on reducing government aid to farmers.
Agriculture provisions are the main stumbling blocks to a draft of a World Trade Organization agreement that would set rules for international trade.
Greek Carrier Faces Liquidation
Olympic Airlines, founded in 1957 by shipping magnate Aristotle Onassis, may face liquidation after the European Commission ordered it to return $663 million in aid from the government.
The aid, which helped keep Greece's unprofitable, state-owned carrier flying, breaks European Union rules, the commission said. Greek Economy and Finance Minister George Alogoskoufis said in a television interview that if Olympic were to return the money, it would probably be forced to sell assets such as its name, routes and planes.
Compiled from staff and news service reports.