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TRANSPORTATION
Ford cutting 2,800 by year's end
The automaker will cut 1,500 contract workers and 1,300 salaried positions as part of a plan to save 10% in labor costs this year. It's already cut $1.9 bil in costs by revamping production and lowering warranty estimates. Also, union members OK'd a labor deal with Ford and supplier Visteon that lets Ford shut plants employing 4,600.
ArvinMeritor cuts Q4 EPS views
The car parts maker expects to earn 36-39 cents a share in Q4 ex-items, citing higher than expected costs. Analysts expected 44 cents, down 28% vs. a year ago. ArvinMeritor, which is mounting a hostile bid for larger rival Dana Corp., sank 12%.
RETAIL
Wal-Mart, lawyers in tobacco deal