Several car manufacturers have already shed jobs and reduced workers' hours in response to slowing consumer demand and there are fears the industry might never recover.
Statistics Canada study says Canada lost nearly 322,000 manufacturing jobs from 2004 to 2008, or more than one in seven.
President sought to reassure free-trading Canadians that his country is not cultivating a protectionist streak as its economy tanks and hemorrhages jobs.
Chrysler Canada and General Motors of Canada present restructuring plans on Friday in hopes of securing $1 billion from the federal and provincial governments.
Office for National Statistics said retail sales grew by 0.7 percent despite plunging car production and a sharp rise in home repossessions.
Survey showed that the services and manufacturing sectors in the 16 nations that share the single currency saw business activity fall at a record rate during February.
Justice Dept. opened an antitrust investigation into price fixing and other anticompetitive practices at companies that supply the cooling parts for refrigerators and freezers.
Former President told Arkansas legislators that he'd be shocked if it took more than two years for the nation's economy to rebound and expects a turnaround between 12 and 15 months.
Labor Department said Thursday that wholesale prices increased by 0.8 percent last month, the biggest gain since last July and well above the 0.2 percent increase expected.
Labor Department reported Thursday that the number of people receiving regular unemployment benefits has jumped to 4.99 million while new jobless claims remain well above 600,000.
South Korean arm of General Motors said it held talks with a state-run bank over long-term financing, while a news report said it sought hundreds of millions of dollars in aid.
Two once-mighty automakers have requested an additional $21.6 billion to stay alive, but for President Barack Obama's month-old administration, there are no easy answers.
Aviation industry hopes the tax break in the economic-stimulus bill will persuade more companies to buy planes and snap a slump in general aviation that began last year.
Automakers are hammering out two issues left unfinished in requests for more government aid -- how to fund union-run health care trust and get bondholders to exchange debt for equity.
Legislation would require food makers to alert state inspectors within 24 hours if a plant's internal tests show its products are contaminated.
German leaders are open to helping keep Opel factories open, but have insisted that GM Europe outline a long-term strategy with job security for the thousands of workers.
Beijing promised to help light industry and petrochemical suppliers in its latest stimulus package aimed at reviving sectors that have been battered by the global economic crisis.
Under the new projections, the unemployment rate will rise to between 8.5 and 8.8 percent this year, and the economy will contract between 0.5 and 1.3 percent.
Shareholders approved a stock transaction that clears the way for the computer chip maker to spin off factories and sell a stake of the company.
Automakers' restructuring plans included requests for $39 billion in loans, as well as plans for 50,000 jobs cuts and the slashing of models and brands.
Federal Reserve reported Wednesday that production at the nation's factories fell 1.8 percent last month; many economists expected a 1.5 percent decline.
Government denied protests from Northrop Grumman and Textron, keeping the defense contractors out of a competition to build lightweight tactical vehicles to replace the Humvee.
Chinese exporters that face plunging sales want the yuan devalued, making their goods cheaper abroad, but economists see no sign Beijing will take such a step.
Head of a Japanese steel industry group warned the ‘Buy American’ clause contained in the new U.S. stimulus package could spread protectionism around the world.