The United Auto Workers union is objecting to General Motors' newest restructuring plan in a letter to Congress Tuesday, saying it depends upon increasing imports from other countries over U.S.-made vehicles.
The U.S. economy should begin recovering late this year but the number of unemployed people is likely to continue growing into next year and will remain a drag on consumer and business confidence, Federal Reserve Chairman Ben Bernanke said Tuesday.
President Barack Obama is turning to South Carolina's former school superintendent to head an expanded Consumer Product Safety Commission, an embattled agency that has been criticized by advocates for being too cozy with industry.
The first building block of Chrysler LLC's sale to a partnership with Fiat moved ahead Monday as a judge approved up to $4.5 billion to keep the company alive in bankruptcy, even as hourly and salaried workers and dealers of the company will sacrifice even more than in the next two months.
Following through on a campaign promise to stop rewarding companies that send jobs and money overseas, President Barack Obama on Monday called for eliminating various loopholes that benefit offshore tax havens and ratcheting up overseas enforcement, which he said could save $210 billion over a decade and encourage more job creation at home.