Investor’s Calendar
The News Review:
- Investor’s Calendar
- Lawmakers urge bama to slow auto task force
- North Korea Nuclear Test Auto Sector Weigh ver European Stocks
- GM auto workers union reach tentative deal
Investor’s Calendar
Wall Street Journal
PEC Meets: The rganization of Petroleum Exporting Countries meeting Thursday isn’t expected to make production cuts beyond those authorized last year. Housing Data: Reports on existing- and new-home sales as well as on consumer sentiment are due this week. Dell Acquisitions? When Dell reports earnings Thursday investors will be eager to hear what plans the computer maker has for possible acquisitions of services or software companies to help it diversify. LAST WEEK Curbed Cards: A new law imposes sweeping restrictions on credit-card companies; it bans extra fees and certain rate hikes and arms consumers with more information.
Lawmakers urge bama to slow auto task force
Boston Globe
“We are asking President bama to call ‘time out’ on his automobile task force” said Representative Steve LaTourette Republican of hio. Thirty-six members of Congress mostly Republicans urged the White House to reexamine its work to stabilize the US auto industry prompted by sweeping plans outlined last week by Chrysler LLC and General Motors Corp. to shutter hundreds of car dealerships. The lawmakers said a June 1 deadline for a GM bankruptcy created more uncertainty for the industry. The panel represents “various Wall Street interests who have long looked at exporting jobs out of this country” said Representative Dennis J. Kucinich Democrat of hio.
North Korea Nuclear Test Auto Sector Weigh ver European Stocks
AHN
This was the second test after the first one held in ctober 2006 but it was more powerful than the previous one according to reports citing a statement by North Korea. With the current test North Korean leader Kim Jong Il has indicated that he may not stop enriching nuclear materials for weapons program. In the auto sector shares of Porsche SE slipped by 5. 4 percent following reports that the sports-car maker reportedly received an extended credit link of more than 700 million euros ($977 million) from Volkswagen AG. The stock of Volkswagen were moving down by 0. The extra fund is likely to help the cash-strapped automaker especially after the merger talks between the companies collapsed last week.
Related from Yolog: Japan Seeks Emergency UN Session After N. Korea Nuclear Test
GM auto workers union reach tentative deal
Los Angeles Times
By Jim Puzzanghera9:45 AM PDT May 21 2009Reporting from Washington — The United Auto Workers said today it has reached a tentative agreement with General Motors Corp. and federal officials to modify its labor contract with the automaker removing a major hurdle to GM’s government-mandated restructuring. The UAW did not release details of the agreement because it has not been ratified by its members at GM. The union said it was in the process of scheduling a ratification vote.
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