American Axle workers began to return to work earlier this week, after the end of a three-month walkout in Michigan and New York. The struggle-one of the longest walkouts in the auto industry in decades-ended in a bitter defeat for the workers.
Sphere: Related ContentIn a series of coordinated and parallel actions, the US Federal Reserve Board, the European Central Bank, the Bank of England, the Swiss National Bank and the Bank of Canada on Wednesday moved to inject tens of billions of dollars into near-frozen credit markets.
Sphere: Related ContentSeventy three thousand General Motors workers struck the largest US auto company Monday, shutting down all 82 facilities in a struggle to defend their most basic conditions—health care, jobs and wages.
Sphere: Related ContentIf a week is a long time in politics, then two days in the financial markets can be even longer. Last Wednesday, William Poole, president of the St Louis Federal Reserve Bank, told Bloomberg TV that the subprime mortgage rout did not threaten US economic growth and that only a “calamity” would justify an interest rate cut.
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