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In Brief

In Brief

CNAC asks airline to reconsider bid
The parent company of Air China used a newspaper advertisement yesterday to plead with the directors of China Eastern to review its rejection of a proposed alliance between the two carriers.
China National Aviation Corp., parent of flagship carrier Air China, insisted its bid was sincere in an ad placed in the South China Morning Post.
"CNAC has been highly sincere in seeking a strategic partnership with China Eastern Airlines," the ad in the English-language daily said.
"CNAC hopes that the board of directors of China Eastern Airlines will seriously review and give full consideration to the proposal."
Tax sheltering
Congressional investigators will travel to the Cayman Islands next week to look into U.S. companies operating offshore as governments worldwide take a tougher stance on tax dodgers.
"Our hope in sending Government Accountability Office investigators to the Caymans is to get some answers about ... what's really happening with U.S. companies going offshore," Senate Finance Committee Chairman Max Baucus, a Montana Democrat, said in a statement.
GM to close plants
General Motors Corp. may close two additional factories next week as the impact of a strike at a key parts supplier widens.
The largest U.S. automaker has announced that it will temporarily shutter four plants that make full-sized pickup trucks, idling 12,000 workers in the U.S. and Canada.
Three of the closures, in Flint, Michigan; Fort Wayne, Indiana; and Oshawa, Ontario; were to take place Friday night, on top of the idling of a pickup truck factory in Pontiac, Michigan on Thursday.
Chrysler profits
Jim Press, vice chairman and president of Chrysler LLC, said the privately held automaker will meet its financial targets and shrink itself by trimming jobs and dropping models despite expectations of a continued slump in U.S. vehicle demand.
Press said Chrysler had an operating profit after Daimler AG's sale of a controlling stake in the automaker in August to New York-based Cerberus Capital Management LP.


Updated : 2021-06-14 01:43 GMT+08:00