Honda to Sell New Hybrid Next Year
Honda Motor Co plans to launch a new, affordable hybrid car in Japan, the U S S, and Europe in early 2009. The five seat, five door sedan will be sold only as a hybrid with a price gap under 1900 dollars versus standard models. The company's president Takeo Fukui outlined steps to boost hybrids including a Civic based model and a CR Z based sporty car, plus cost cuts and production innovations to stay competitive amid rising material and energy costs. The new hybrid's name was not disclosed and its system will be lighter and more compact to improve fuel efficiency.
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Tokyo
Honda
Uss
Japan
Europe
Honda Motor Co
Takeo Fukui
Fukui
Oil surge drives Wall Street downturn amid Fed caution
New York stocks slid for a second straight session as oil prices surged beyond 135 a barrel in after hours and Fed minutes warned of slower growth and higher unemployment. The Dow dropped 227.49 points to 12601.19, the S&P 500 fell 22.69, and the Nasdaq declined 43.99 as investors fretted over persistent inflation and limited rate cuts. Crude crude settled at 133.174 a barrel on the NYMEX, about 20 higher than early May.
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New York Wall Street
Federal Reserve
Fed
Standard & Poor
Beverly Hills
Calif
Government seeks changes to foreign worker rules
The Bush administration proposes an H-2B visa reform to speed temporary nonagricultural hiring. It would cut duplicative filings, require employer attestations under penalties, federalize wage determinations, bar costs to workers, and give Labor Department power to enforce terms while Homeland Security oversees compliance.
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Bush Administration
Labor Department
Department
Elaine Chao
Homeland Security Department
Chao
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