News Today - Apr 27

* The United Auto Workers union announced it had reached an agreement with Chrysler, Fiat and the U.S. government that meets the requirements of the Treasury Department for loans to the auto giant. full story

* Japan's government expects the nation's economy to contract a record 3.3% for fiscal 2009, as overseas demand continues to decline.

* Twenty confirmed cases of swine flu in the U.S. prompt declaration of public health emergency, mirroring action by WHO.

* The US economy probably plunged again in the first quarter, reflecting a drop in inventories that may set the stage for a return to growth later this year.Gross domestic product shrank at a 4.7% annual pace after contracting at a 6.3% rate in the last three months of 2008, according to the median estimate of economists surveyed by Bloomberg News ahead of a Commerce Department report April 29.

* A push by Brazil, Russia, India and China to have the IMF issue bonds is part of a strategy by developing nations to gain a bigger Quota.

* TCS, Infosys and Wipro, plan to increase foreign employees in their workforce as they seek to position themselves as 'job creators' in the mkts they serve

* The sense of "unremitting freefall" in the U.S. economy has disappeared and the picture is no longer completely negative but rather mixed, President Barack Obama's economic adviser Lawrence Summers said on Sunday.

* One of the 19 financial institutions that received a government stress test would require additional capital, based on the initial findings, according to an industry source.