canadian plants

Canada gets 12 percent stake in ‘bankrupt’ GM


June 2nd, 2009 - 9:23 am ICT by IANS
By Gurmukh Singh Toronto, June 2 (IANS) As General Motors filed for bankruptcy protection in New York Monday under pressure from President Barack Obama, Canada acquired 12 percent equity of the failed ... Read more...

Posted in Business |

$3.8 bn Canadian loan for auto giant Chrysler


May 1st, 2009 - 11:26 am ICT by IANS
Toronto, May 1 (IANS) Canada will loan $3.8 billion to Chrysler in return for a two percent stake and a say in management as the troubled auto giant undertakes restructuring to survive. The ... Read more...

Posted in Business |

Canada unveils $4 bn interim loan to GM, Chrysler


March 31st, 2009 - 1:44 pm ICT by IANS
Toronto, March 31 (IANS) Canada Monday announced $4 billion in interim loans to General Motors (GM) and Chrysler as the struggling auto giants undertake government-supervised restructuring plans. Unlike the Obama administration ... Read more...

Posted in Business |

Chrysler gives ultimatum, threatens to pull out of Canada


March 12th, 2009 - 12:36 pm ICT by IANS
Toronto, March 12 (IANS) Chrysler Wednesday threatened to pull out of Canada unless the Canadian government gives it billions of dollars in loans and allows tax concessions and workers take wage cuts. With ... Read more...

Posted in Business |

Canada will recover before others, says PM


March 11th, 2009 - 11:28 am ICT by IANS
Toronto, March 11 (IANS) Striking a positive note, Canadian Prime Minister Stephen Harper has declared that his country will be the first in the world to emerge from the current economic crisis. ... Read more...

Posted in World |

Ford for incentives to owners to scrap old cars to boost sales


March 10th, 2009 - 1:46 pm ICT by IANS
Toronto, March 10 (IANS) Ford Motor Company has asked the Canadian government to give monetary incentives to people to scrap old cars to boost sales of new vehicles. Incentives for owners of 10-year ... Read more...

Posted in World |

GM freezes wages in Canada till 2012


March 9th, 2009 - 10:36 am ICT by IANS
By Gurmukh Singh Toronto, March 9 (IANS) To cut costs, auto giant General Motors (GM) Sunday froze wages and pensions for its Canadian workers until 2012. The struggling company, which will get ... Read more...

Posted in World |

Chrysler cuts 1,200 more jobs at its main Canadian plant


March 5th, 2009 - 10:46 am ICT by IANS
Toronto, March 5 (IANS) Auto giant Chrysler cut 1,200 more Canadian jobs Wednesday at its Windsor plant near Detroit amid plunging sales. The auto maker, which is surviving on government loans, said it ... Read more...

Posted in Uncategorized |

Tit-for-tat ‘Buy Canadian’ policy against US sought


February 11th, 2009 - 12:37 pm ICT by IANS
The union leaders, who took their case to the nation's parliament in Ottawa Tuesday, said they would pressurise the government to announce the protectionist policy along with the proposed $40 billion stimulus ... Read more...

Posted in World |

Canada’s $4 bn aid package ‘good news’ for auto industry


December 21st, 2008 - 12:07 pm ICT by IANS
Toronto, Dec 21 (IANS) The $4 billion aid package announced by Canada for its struggling auto industry has been hailed as "good news" by the industry and workers, but Ford Canada said ... Read more...

Posted in World |

Fall of US auto giants to cost Canada 600,000 jobs


December 17th, 2008 - 11:47 am ICT by IANS
Toronto, Dec 17 (IANS) The collapse of the three big American carmakers could cost Canada more than 600,000 jobs, a report by the Centre for Spatial Economics has warned.According to the report ... Read more...

Posted in World |

Canada unveils $3.5-billion bailout for auto industry


December 13th, 2008 - 10:18 am ICT by IANS
Toronto, Dec 13 (IANS) Even as the US Senate rejected a $14-billion bailout for its three auto giants, Canada Friday unveiled its own $3.5-billion aid package for the struggling subsidiaries of General ... Read more...

Posted in Business |

Canadian stock markets, dollar in free fall


October 23rd, 2008 - 10:21 am ICT by IANS
Toronto, Oct 23 (IANS) Falling oil and commodity prices continued to hammer the Toronto Stock Exchange and the Canadian dollar Wednesday, with both falling steeply since Tuesday.While the Toronto Stock Exchange (TSX) ... Read more...

Posted in Uncategorized |

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