Ford announces deal with UAW

Ford (F) has announced a tentative agreement with the United Auto Workers that should help sustain its return to profitability in the coming months.

The company noted that the deal must still be ratified by UAW-Ford membership and that details will not be discussed until after that process is complete.

However, a report by the Detroit Free Press cites some provisions as including a $1,000 bonus for current full-time employees "in recognition of recent quality and productivity gains." Other items reportedly include a wage freeze for entry-level workers hired through September 2015 and various commitments for adding jobs and other investments to Ford plants.

Ford also indicated this week that it is showing new strength in international markets. For example, the company reported that it had achieved record sales in China for the third quarter of 2009, along with eight consecutive months of growth in that market.

Also, the company reported that it had achieved a market share of 10.1 percent last month in its 19 European main markets, indicating further strength for Ford products overseas.