GM workers ratify contract with profit sharing and jobs
GM and the United Auto Workers reach a four year pact covering more than 112,000 U S auto workers nationwide. The deal includes signing bonuses and profit sharing, limits annual raises, and plans to add at least 5,100 jobs while cutting labor costs. Entry level wages rise 22 percent for new hires.
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Amazon unveils Kindle Fire tablet to rival iPad
Amazon launched the Kindle Fire a 7 inch touchscreen tablet priced at 199 dollars to stream movies and TV shows and access e books and apps. CEO Jeff Bezos touted services over devices as analysts note the iPad remains dominant with strong competition from Barnes Noble Sony and others.
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Little Tikes recalls workshops over choking nails
The Consumer Product Safety Commission recalls more than 1.7 million Little Tikes workshop and tool sets because oversized plastic nails can cause choking. The recall expands a 2009 action, adding 11 models after two new incidents. Sales spanned 1990 to 2004 nationwide.
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Bernanke urges U S to learn lessons from emerging nations
In a Cleveland speech Fed Chair Ben Bernanke says the United States and other rich nations can gain by adopting disciplined budgets embracing free trade boosting public investments and backing education, echoing growth lessons from China India and Brazil. He cautions lawmakers on deficits and urges domestic demand alongside export growth.
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