Business News

• Three more banks fail as FDIC seeks stronger rules for buyers of failed banks The Canadian Press - 1 hour, 0 minute ago

  WASHINGTON - Three Illinois banks were shuttered Thursday as government regulators proposed new rules for private equity firms seeking to take over failed banks.

• Ford Canada leads June auto sales for first time in more than 50 years The Canadian Press - 2 hours, 10 minutes ago

  Ford (NYSE:F) drove its Canadian auto and light truck sales higher in June as most of its major competitors retreated, resulting in the company rising to the industry's top spot for the first time in decades.

• Rejection of Navistar offer leaves future of Chatham truck plant in doubt The Canadian Press - 2 hours, 11 minutes ago

  TORONTO - The future of the Navistar truck plant in Chatham, Ont., is in limbo following a rejection of the company's latest offer by members of the Canadian Auto Workers union.

• Air Canada's machinists union may vote again on contract to freeze wages The Canadian Press - 2 hours, 12 minutes ago

  MONTREAL - Air Canada (TSX:AC.B) and the union representing its mechanics and technical staff will meet Friday after workers narrowly rejected a key labour contract that freezes wages and gives the airline a break on pensions.

• GM left to wait as judge adjourns hearing without indicating ruling's timing The Canadian Press - 2 hours, 14 minutes ago

  NEW YORK - The judge in the General Motors Corp. bankruptcy case adjourned a three-day hearing without indicating when he will rule on the company's plan to sell its good assets to a new company.

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