SOURCES: CHINA WILL SIGN
CONTRACT FOR AIRBUS JETSBEIJING - China is to sign a $1.2 billion contract to buy Airbus jets during a visit by France's President Jacques Chirac this week, aviation industry sources said Tuesday.
The order, to be signed Thursday, includes 10 Airbus A320 planes and 20 Airbus A321s, the sources said. Airbus Industrie's A321 is a direct competitor to the Boeing 757. Other sources said an additional 20 aircraft could be ordered.
ELECTRIC WORKERS STRIKE
GM'S DELPHI PACKARD
WARREN, Ohio - A key auto industry supplier was struck Tuesday by 8,500 hourly workers who walked off the job at a General Motors Corp. subsidiary that makes electric wiring for 20 automakers.
The walkout began after the International Union of Electrical Workers failed to reach a contract agreement on local pension and pay issues with Delphi Packard Electric Systems.
Most pay and benefit issues were settled earlier in a national agreement between GM and the union. The contract governing local issues expired in September.
BANK UPS ITS ESTIMATE
FOR LATIN AMERICA GDP
SANTIAGO, Chile - The Inter-American Development Bank increased its forecast for Latin America's gross domestic product growth for this year to be between 4.5 percent and 5 percent compared with last year, up from an earlier expectation of a 4 percent increase.
''But we are still dissatisfied with growth rates. They need to be more like Chile's,'' said IDB president Enrique Iglesias.
Latin American nations set aside 18 percent to 20 percent of GDP, while Chile saves almost 28 percent in domestic savings.