Page 7 - ATD 8OCT,2015

U.S. NEWS A7
Thursday 8 October 2015

US Financial Front:

Fiat Chrysler, UAW still bargaining as strike threat looms

Wednesday. the deadline, or the union 40,000 factory workers in
FCA and the UAW were still could put talks with FCA on the U.S.
negotiating late Wednes- hold and bargain with Ford FCA workers haven’t gone
day afternoon, accord- Motor Co. or General Mo- on strike since 2007, when
ing to representatives from tors Co. instead. workers walked off the
both sides. If workers do strike, the job for seven hours during
A strike notice doesn’t UAW could call off workers contract negotiations. In
mean a strike will hap- only at some key plants or 2011, they were prohibited
pen. FCA and the union it could order a strike at all from striking under terms of
could reach a new ten- of FCA’s 23 U.S. plants. The FCA’s government-funded
tative agreement before UAW represents around bankruptcy. q

Assembly line workers build a 2015 Chrysler 200 automobile at
the Sterling Heights Assembly Plant in Sterling Heights, Mich. The
threat of a strike is looming as Fiat Chrysler and the United Auto
Workers continue negotiating a new contract.

(AP Photo/Paul Sancya)

TOM KRISHER Auto Workers continue ne-
DEE-ANN DURBIN gotiating a new contract.
AP Auto Writers The union sent FCA a strike
DETROIT (AP) — The threat notice on Tuesday. Fac-
of a strike is looming as Fiat tory workers could walk out
Chrysler and the United as early as 11:59 p.m. EDT

US consumer borrowing climbs
to new record in August: report

M. CRUTSINGER which accounts for 70 per-
AP Economics Writer cent of economic activity,
WASHINGTON (AP) — U.S. will remain strong in the
consumer borrowing ad- coming months as house-
vanced at a solid pace in holds remain willing to take
August, as Americans took on more debt.
out more auto and student A strong consumer sector
loans. will help to offset weakness
The Federal Reserve said in other parts of the econ-
Wednesday that consumer omy. Manufacturing and
borrowing rose by $16 bil- export sales have been
lion in August, pushing the hurt by increased weak-
total to a fresh record of ness overseas and a higher
$3.47 trillion. dollar, which makes U.S.
The August advance was products less competitive
slightly below the July gain on foreign markets.
of $18.9 billion. In June, The overall economy, as
credit had soared by $27.2 measured by the gross do-
billion, the largest increase mestic product, expanded
since November 2001. at a robust rate of 3.9 per-
Borrowing for car and stu- cent in the April-June quar-
dent loans expanded by ter. But many economists
$12 billion in August. Bor- believe growth slowed
rowing in the category that sharply in the July-Septem-
covers credit cards rose by ber quarter to perhaps as
$4 billion. low as 1.5 percent, reflect-
Economists are forecasting ing the impact of a lacklus-
that consumer spending, ter global economy.q