Business News Archive - December 14, 2008

Efforts to provide a federal bailout to U.S. automakers in Detroit have stirred resentment among non-union autoworkers in the U.S. South, observers say. The Bush administration has indicated it may dip into the $700 billion financial industry bailout funds appropriated by the U.S.

Unemployed workers in Indiana say the prospect of 100 machinist jobs at Rolls-Royce in Indianapolis drew thousands of applicants. About 1,000 people had entered the plant Saturday when guards closed the gates and accepted resumes from others with a promise to get them to hiring managers, The Indianapolis Star reported. Some applicants said they had to park as far as a mile away from the plant because so many people showed up, the Star reported Sunday. There's no work around, said unemployed machinist James Bond, 32, of Indianapolis.

ST. LOUIS, Dec. 14 /PRNewswire/ -- AmerenUE is prepared for severe winter conditions forecast for tonight (Dec. 14) and early Monday. The area weather forecast includes the possibility of freezing rain, snow and sleet Sunday.

China began construction Sunday on the world's longest cable-stayed viaduct, spanning the Qiantang River, officials said. Scheduled for completion by 2012, the viaduct is expected to set a world record for length at 1.67 miles.

Toyota executives may get substantially smaller bonuses this fiscal year -- and possibly none at all -- because of harsh economic reality, sources said Sunday. Citing informed sources, Kyodo reported that Toyota Motor Corp., Japan's biggest automaker, is considering cutting executives' salaries. The cost-cutting actions will be taken up at a shareholders' meeting next June, the sources told the Japanese news agency.

Qatar companies will have jobs for 37,000 Filipinos in the next few years, Philippines President Gloria Arroyo said during a visit to the Middle Eastern nation. I am glad to hear that there are 37,000 more job openings here for Filipinos, Arroyo said Saturday.

THE WOODLANDS, Texas, Dec. 14 /PRNewswire-FirstCall/ -- Huntsman Corporation (NYSE: HUN) today announced it has terminated its Merger Agreement with Hexion Specialty Chemicals, Inc. ("Hexion").

Word of the Day
  • Stoppage; cessation (of labor).
  • A standing still or idling (of mills, factories, etc.).
The word chomage comes into English from French.]