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Fiat Chrysler workers skeptical of new UAW deal's impact on wages KOKOMO: Workers outside the gates of a Fiat Chrysler plant here greeted news early on Thursday of a new tentative agreement between the automaker and the United Automakers skeptically, giving an indication of the challenges the union may face in getting the deal ratified by members. Last week, 65 percent of Fiat Chrysler unionized workers voting rejected a proposed four-year contract. Some workers complained that the first tentative deal put more of a burden on them and said it treated retirees unfairly, but the biggest bone of contention was over wages. The proposed agreement would have narrowed the gap between the pay of veteran UAW workers, who earn about $28 an hour, and more recent hires, who are paid about $19 an hour. But workers said it did not narrow the gap sufficiently or fast enough. "They have to give them younger folks what they need, they have to give ...

US bond prices fall ahead of 30-year auction NEW YORK: US Treasuries prices fell on Thursday with benchmark yields hovering near one-week highs as investors sold some debt in advance of a $13 billion 30-year bond auction. Investors also awaited the release of minutes from the Federal Reserve's September policy meeting due at 2 p.m. (1800 GMT). They expect the minutes to provide details about why the central bank's policy-setting group, the Federal Open Market Committee, left interest rates unchanged in September, to ...

Bank of England keeps rates steady, sees soft outlook for inflation LONDON: Bank of England policymakers voted 8-1 to keep rates at a record-low 0.5 percent this month, and most saw a relatively soft outlook for inflation, suggesting they are in no hurry to raise interest rates.The central bank said cost pressures in Britain's labour market were rising too slowly for inflation to return to its 2 percent target, especially given the past strength of sterling, and that inflation would stay below 1 percent until spring ...

Auto workers union accepts Fiat Chrysler contract offer DETROIT: Negotiators for the United Auto Workers said early Thursday that they agreed to a new contract with the Fiat Chrysler US auto company to avert a possible strike by up to 40,000 workers.A previous tentative four-year deal was rejected on October 1 by 65 percent of the 40,000 employees that the union represents at the Fiat Chrysler Automobiles' US unit.These negotiations are followed closely because any agreement reached between the UAW and Fiat Chrysler ...

Volkswagen Korea apologizes, considers recall SEOUL: Volkswagen issued a public apology in South Korea on Thursday over its global pollution-cheating scam, vowing to consider a voluntary recall in the country.The statement came as the German auto giant faces an avalanche of lawsuits from local customers who are following their US counterparts in seeking damages from the company over the emissions scandal."I sincerely apologize over betraying customers' trust", Volkswagen Korea President Thomas Kuehl said in a newspaper advertisement.South Korean government officials ...

Deutsche Bank says to post 6.2bn loss in Q3 BERLIN: Deutsche Bank warned Thursday that it would post a net loss of 6.2 billion euros ($7.0 billion) in the third quarter and that dividends for the year may be scrapped.The bank said it would book a charge of 5.8 billion euros in impairments, "largely driven by the impact of expected highly regulatory capital requirements... as well as current expectations regarding the disposal of Postbank."The group was also setting aside 1.2 billion euros to meet ...

Fiat Chrysler to halt production at Maserati plant Nov. 2-8 TURIN: Fiat Chrysler Automobiles will halt production of its Maserati Ghibli and Quattroporte sedans at a plant near Turin during the first week of November to adjust output to market conditions, a company source said on Wednesday. Around 2,000 workers at the Maserati plant in the Grugliasco factory will be placed on a temporary jobless scheme between Nov. 2 and 8, the source said. Copyright Reuters, 2015


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Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-1.988 bln
Exports $1.835 bln
Imports $3.823 bln
WeeklyOctober 05, 2015
Reserves $18.349 bln