Delphi tells UAW of intense business challenges

Newswire

CHICAGO, June 21 (Reuters) - Struggling parts maker Delphi Corp. on Tuesday told the United Auto Workers it, and the domestic U.S. auto industry, faced intense challenges, but released no details about what it told union leaders in an annual business update. Delphi, shares of which rose 4 percent on Tuesday after Merrill Lynch raised its rating on the stock to "neutral" from "sell," citing a reduced risk of bankruptcy for the parts supplier, though adding it is "by no means out of the ...

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