BUSINESS BRIEFS
Chrysler-UAW deal announced
Advertiser News Services
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DETROIT — Chrysler LLC cleared another major obstacle to its survival yesterday when it reached a tentative deal for concessions with the United Auto Workers union.
The UAW announced the deal last night, calling the concessions painful but saying the deal takes advantage of the Obama administration giving Chrysler and its workers a second chance.
The automaker is just days from a Thursday U.S. government deadline to gain concessions from its unions and debt holders and form an alliance with Italy's Fiat Group SpA or face almost certain liquidation.
JOBLESSNESS PREDICTED TO HIT 9.8%
WASHINGTON — Nearly one in 10 U.S. workers will be unemployed before the job market starts to improve, economists in a USA Today survey predict. Most expect overall continued deterioration over the next six months.The unemployment rate will peak at 9.8 percent, according to their median forecast, up a full percentage point from the prior survey in January. Twenty-one economists predict the unemployment rate will top out at 10 percent or higher, according to the survey of 51 economists.
CHINA, TAIWAN BOOST ECONOMIC TIES
BEIJING — China and Taiwan signed several deals yesterday that will enhance economic ties between the rivals and increase the frequency of flights, amid efforts by Taiwan's president to improve relations with Beijing.One agreement sets the stage for financial services firms to open branches in each other's territory. Another will increase the number of direct flights between the two and open new routes to the Chinese mainland.
Taiwan and the mainland split in 1949 and have no formal ties.
