Wednesday, July 21, 2004
WORLD
Autoworkers walk out
SEOUL, South Korea -- Unionized workers at GM Daewoo Auto & amp; Technology Co., South Korea's third-largest automaker, walked off the job today. About 2,700 members of the Daewoo Automobile Labor Union are demanding a 16.6 percent increase in basic wages and a reduction of working hours, officials said. GM Daewoo was established after General Motors Corp. acquired Daewoo Motor Co.
NATION
Rising interest rates
WASHINGTON -- The Federal Reserve is ready to raise interest rates more quickly than its current "measured" pace if inflation suddenly worsens, chairman Alan Greenspan said Tuesday. Still, Greenspan delivered a generally upbeat assessment of economic prospects to Congress, seeking to allay concerns that a dip of economic activity in June could turn into something more severe.
Associated Press
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