Streetbeat News

Labor Issues

F

GM

STLA

Workers at Ford, Stellantis, and General Motors represented by the United Auto Workers union have overwhelmingly ratified new contracts that include pay raises across the industry. These agreements are expected to set a precedent for workers' compensation as the industry transitions away from gasoline-fueled vehicles.

Portfolio Pulse from Benzinga Newsdesk

November 20, 2023 | 2:23 pm

SGBX

Safe & Green Holdings Corp. (NASDAQ:SGBX) is eligible for a $1.5 million refund from the IRS for the Employee Retention Tax Credit. The company increased its headcount during the pandemic and did not rely on PPE loans or other grant programs. The tax credit will help reduce the need for dilutive capital and support the company's commitment to providing high-quality US jobs.

Portfolio Pulse from Benzinga Newsdesk

November 20, 2023 | 2:01 pm

BHP

Approximately 500 train drivers at BHP Group Ltd's (NYSE:BHP) iron ore division in Pilbara, Western Australia, are set to start industrial action over work schedules after rejecting the company's offer. The action includes a ban on the company's mobile app for rostering, which prevents management from unilaterally changing rosters electronically. The drivers voted for measures including work stoppages and speed reductions. BHP's iron ore operations, which are significant for the company's earnings, are facing potential disruptions. The strike has already driven iron ore prices to their highest levels since February. BHP shares closed up by 0.88% at $60.91 on Friday.

Portfolio Pulse from Shivani Kumaresan

November 20, 2023 | 1:55 pm

MGM

Union members at MGM Grand Casino have voted to reject the proposed deal and will continue their strike. This labor dispute could affect the operations and financial performance of MGM Resorts International.

Portfolio Pulse from Benzinga Newsdesk

November 20, 2023 | 1:54 pm

KSS

Kohl's Corp announced the departure of Dave Alves, the company's President and Chief Operating Officer, according to an SEC filing on Nov 17.

Portfolio Pulse from Benzinga Newsdesk

November 20, 2023 | 1:50 pm

GOOGL

MSFT

SPY

Ilya Sutskever, a co-founder of OpenAI, expressed regret over his participation in board actions that he feels may have harmed the company. He reaffirmed his love for OpenAI and committed to working towards reuniting the company.

Portfolio Pulse from Benzinga Newsdesk

November 20, 2023 | 1:46 pm

ENFN

Enfusion, a provider of cloud-based investment management software and services, has announced the appointment of Neal Pawar as Chief Operating Officer (COO), effective November 27. Pawar brings a wealth of experience to the role, having previously held senior positions at various financial and technology firms. This strategic hire is expected to strengthen Enfusion's leadership team and support its growth initiatives.

Portfolio Pulse from Benzinga Newsdesk

November 20, 2023 | 1:16 pm

MSFT

OpenAI is experiencing internal strife as employees, including high-level executives, are protesting against the board's refusal to bring back Sam Altman and Greg Brockman, who have been hired by Microsoft Corp. (NASDAQ:MSFT). Microsoft, led by CEO Satya Nadella, holds a 49% stake in OpenAI. The protest involves employees quitting or voicing their discontent, with CTO Mira Murati and COO Brad Lightcap among those supporting Altman and Brockman. The future direction of OpenAI amidst this turmoil is uncertain.

Portfolio Pulse from Rounak Jain

November 20, 2023 | 1:10 pm

TGB

Taseko Mines Limited has announced the appointment of Richard Tremblay as Chief Operating Officer and Terry Morris as Vice President, Operations. Tremblay, with over 30 years of experience, has been with Taseko since 2014 and has played a key role in the Florence Copper Project. Morris brings nearly 20 years of experience and has held roles at Barrick Gold, Peabody Australia, Westmoreland Coal, and Teck Resources. The company is focusing on becoming a North American multi-asset copper producer, with the Florence Copper project expected to commence commercial operations in 2025.

Portfolio Pulse from Benzinga Newsdesk

November 20, 2023 | 1:07 pm

NRG

NRG Energy, Inc. has appointed its Chair, Lawrence Coben, as the Interim President and CEO following the departure of Mauricio Gutierrez from the company.

Portfolio Pulse from Benzinga Newsdesk

November 20, 2023 | 12:03 pm