House Speaker Nancy Pelosi said Saturday the House would provide aid to the ailing U.S. auto industry, requiring that the industry meet new fuel-efficiency standards, produce advanced vehicles and restructure “to ensure their long-term economic viability.”
World leaders on Saturday backed a rapid action plan for the global economic crisis, agreeing on the need for measures to spur growth, better financial market rules and more say for emerging countries.
Union Pacific Corp., the nation’s largest freight railroad, has laid off or reduced hours for 1,500 engineers and conductors since 2007 because of the struggling economy.
World leaders battling a historic economic crisis agreed Saturday to flag risky investing and regulatory weak spots in hopes of avoiding future financial meltdowns.
Even as Detroit’s Big Three teeter on collapse, United Auto Workers President Ron Gettelfinger said Saturday that the problem is not the union’s contract with the automakers and that getting the automakers back on their feet means figuring out a way to turn around the slumping economy.
Saudi King Abdullah says he expects a government investment program in oil and other sectors to total more than $400 billion over the next five years.
Air France pilots vote to continue their strike despite government concessions on plans to push back their retirement age.
World leaders on Saturday are ready to task finance ministers with drawing up recommendations for improving the regulation and functioning of financial markets, according to a G20 official reading from a draft agreement.