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Labor Issues

TSE

Trinseo is restructuring to enhance growth and profitability, exiting virgin polycarbonate production in Germany. This move will consolidate business units, reduce workforce, and result in significant cost savings and profitability improvements.

Portfolio Pulse from Benzinga Newsdesk

September 30, 2024 | 8:19 pm

IGMS

IGMS Biosciences shares fell after the company announced a strategic shift to focus solely on autoimmunity, appointing Beth Harler as CEO. The company will reduce its workforce and cut R&D spending on oncology projects.

Portfolio Pulse from Benzinga Newsdesk

September 30, 2024 | 8:14 pm

IGMS

IGM Biosciences is reducing its workforce and minimizing spending on oncology research, including aplitabart, to focus on autoimmunity. Key executives are stepping down, and the company expects its cash runway to extend into 2027.

Portfolio Pulse from Benzinga Newsdesk

September 30, 2024 | 8:06 pm

BA

Boeing shares are experiencing a decline as machinists have rejected the company's offer, leading to a strike.

Portfolio Pulse from Benzinga Newsdesk

September 30, 2024 | 7:31 pm

SPY

The White House has announced that it is not considering invoking the Taft-Hartley Act to prevent a potential strike by port workers. This decision could impact supply chains and related industries.

Portfolio Pulse from Benzinga Newsdesk

September 30, 2024 | 7:22 pm

SPY

The White House has urged all parties involved in the potential port workers union strike to negotiate and reach an agreement. This situation could impact various sectors, including transportation and logistics.

Portfolio Pulse from Benzinga Newsdesk

September 30, 2024 | 7:21 pm

SPY

Federal Reserve Chair Jerome Powell indicated that if the economy progresses as anticipated, there could be two more interest rate cuts this year, totaling 50 basis points. He noted that while the labor market remains solid, it has shown signs of cooling and does not require further cooling.

Portfolio Pulse from Benzinga Newsdesk

September 30, 2024 | 6:17 pm

SPY

Federal Reserve Chair Jerome Powell indicated that revisions in the savings rate suggest consumer spending can remain healthy. He is monitoring productivity improvements, though it's too early to determine their sustainability. Powell also noted that the labor market might provide a more accurate real-time economic picture than GDP.

Portfolio Pulse from Benzinga Newsdesk

September 30, 2024 | 6:09 pm

SPY

The U.S. Chamber of Commerce has urged President Biden to prevent a potential strike at East Coast ports, warning that such a work stoppage could severely impact the U.S. economy.

Portfolio Pulse from Benzinga Newsdesk

September 30, 2024 | 5:49 pm

SPY

The Federal Reserve's Goolsbee expressed concern over a potential extended port shutdown as 45,000 dockworkers are set to strike. This situation could impact supply chains and economic activity.

Portfolio Pulse from Benzinga Newsdesk

September 30, 2024 | 4:49 pm