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 (Bloomberg) -- General Motors Co. and the United Auto Workers reached a tentative agreement on a new contract, clearing the way for a union vote Thursday on whether to continue a more than month-long strike.The accord, announced by the UAW on Wednesday, may bring an end to the union's first national walkout against the carmaker in a dozen years. It includes $9 billion in investment in U.S. plants, signing bonuses exceeding the $8,000 workers got four years ago, and annual pay raises and lump-sum bonuses over the life of the contract, people familiar with the matter said."The number one priority of the national negotiation team has been to secure a strong and fair contract that our members deserve," UAW Vice President Terry Dittes said in a statement. He said the union's bargaining committee recommends that the GM National Council -- comprised of presidents and chairmen of locals around the country -- vote in favor of putting the deal up for a ratification vote.GM confirmed a tentative agreement had been reached, but neither the company nor the union provided details on what's included in the deal. GM shares rose as much as 2.6% to $37.22, the highest intraday in two weeks.The stakes were rising for both sides as the strike entered a fifth week, costing GM billions, forcing workers to live on $275 a week and denting the economy in Michigan and the Midwest. Analysts at Bank of America Merrill Lynch estimate the strike has cost GM about $2 billion of earnings, and its striking workers may have lost $2,000 of
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The accord, which needs ratification by a majority of the company's 49,000 union workers, could end a strike that has idled plants for a month.
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 A gauge of world stock markets
was little changed on Wednesday on the heels of U.S. data that
raised concerns about a slowing economy, while sterling was
volatile as negotiations on a Brexit deal continued.
On Wall Street, stocks edged lower after
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Congress just slapped China across the face. Might Xi Jinping reneg on Liu He's mini-deal, then?
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The deal is at least two weeks away from being finalized. It still needs approval from local union leaders and rank-and-file members.
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 General Motors and the United Auto Workers reached a proposed tentative agreement on a new contract Wednesday, the 31st day of a nationwide strike.
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T-Mobile US Inc's proposed $26.5 billion tie-up with Sprint Corp won formal approval from the Federal Communications Commission on Wednesday in a vote split along party lines, two sources told Reuters. Chairman Ajit Pai and two Republican commissioners voted to approve the deal while two Democratic commissioners voted against it, the sources said. The lawsuit against Sprint and its parent company Softbank Group Corp and T-Mobile and its parent Deutsche Telekom AG argues the deal will lead to higher prices for consumers.
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