BBC News reports that Chrysler has reached an outline cost-cutting deal with its main US union as it continues efforts to restructure the business before a key deadline.
The US government has told the carmaker it will be given a further $6bn (£4bn) of vital state loans if the restructuring is completed by 30 April.
Without the extra funds Chrysler may have to enter bankruptcy protection.
The government is also demanding that Chrysler refinances its debts and secures an alliance with Italy’s Fiat. Full story…