The U.S. economy sank at a pace of just 1 percent in the second quarter of the year, the Commerce Department reported Friday, in a better-than-expected showing that the recession could be winding down.

Embattled automaker Chrysler wants to shutter about 25 percent of its 3,200 U.S. dealerships by next month, stating in a bankruptcy court filing Thursday that the network is antiquated and has too many stores competing with each other.

The pace of layoffs slowed in April as employers cut 539,000 jobs, the fewest in six months, according to a Labor Department report released Friday. But the unemployment rate climbed to 8.9 percent, the highest since late 1983.

Question/Comment: The Independent mentions that the United Kingdom might move to a three day work week. While some companies have resorted to this kind of solution, most have not. Would this kind of measure be of any help if…