Labor says US asbestos fund needs billions quickly

Newswire

By Susan Cornwell WASHINGTON, April 28 (Reuters) - About half the $124 billion proposed for a national asbestos victims fund would be needed within five years, organized labor said on Wednesday according to participants in talks on creating such a fund. The AFL-CIO analysis surprised business representatives and insurers at the negotiations trying to craft the fund to replace asbestos injury lawsuits that are said to be crippling many companies. "It appears to be a step away from the ...

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