Business Highlights

UAW says it has tentative deal with GM, government

DETROIT (AP) — The United Auto Workers union has agreed on a tentative deal with the government and General Motors Corp. that would cut labor costs, close factories and change the way a union-run trust for retiree health care is funded.

The move is a key step toward GM's efforts to restructure outside of bankruptcy court, but GM still needs bondholders who hold $27 billion in unsecured debt to accept equity in the company in place of the $27 billion they're owed. Analysts have said it is nearly impossible that the required 90 percent of bondholders will agree to the offer.

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Jobs scarce with nearly 6.7M on benefit rolls

WASHINGTON (AP) — A sign that jobs likely will remain scarce through next year emerged Thursday in a report showing a record number of Americans receiving unemployment aid.

And plant shutdowns by Chrysler LLC and General Motors Corp. could further harm the economy in coming months. Economists are just starting to assess the full impact of the auto industry's woes, which affect thousands of suppliers and dealers.