Streetbeat News

Labor Issues

CZR

MGM

WYNN

The Culinary Union is set to hold negotiating sessions with MGM Resorts, Caesars Entertainment, and Wynn Resort. The outcomes of these negotiations could impact the operations and financial performance of the mentioned companies.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2023 | 7:45 pm

CG

Carlyle Group Inc. is restructuring its private equity business in the US, moving away from consumer brands and focusing on core sectors like financial services and technology. The firm is dismantling its US consumer, media, and retail investing team and has asked four dealmakers to leave.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2023 | 6:23 pm

SPY

Fed's Vice Chair of Supervision, Barr, has stated that generative AI could potentially improve productivity growth rapidly. However, he also warned that it could eliminate some jobs, causing serious dislocation.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2023 | 5:51 pm

ALLY

Ally Financial is initiating job cuts that will affect less than 5% of its staff, according to Bloomberg News.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2023 | 5:26 pm

AMZN

COST

Former teacher Maggie Perkins switched careers to retail, choosing Costco Wholesale Corporation over Amazon Inc. due to its employee-friendly reputation and growth prospects. Initially joining the memberships team at a new Athens, Georgia outlet, she transitioned to Costco's headquarters in Issaquah, Washington as a content developer and marketing trainer. Her earnings are now comparable to a seasoned teacher with 15 years of experience.

Portfolio Pulse from Bibhu Pattnaik

October 02, 2023 | 4:55 pm

GM

HMC

TSLA

WKSP

Tesla continues to dominate the US EV market, but the landscape is evolving. Honda is reentering the EV market with the 2024 Honda Prologue, developed with General Motors' Ultium battery platform. However, legacy automakers like GM, Ford, and Stellantis face challenges due to an ongoing UAW strike. Meanwhile, Worksport Ltd is developing a solar-powered tonneau cover and remote battery system that could disrupt the EV market.

Portfolio Pulse from Upwallstreet

October 02, 2023 | 2:32 pm

JPM

SPY

Jamie Dimon, CEO of JPMorgan Chase, stated in an interview with Bloomberg TV that artificial intelligence (AI) is performing most of the equity hedging for the company and will definitely replace jobs in the future.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2023 | 2:09 pm

GM

General Motors (GM) is furloughing an additional 160 workers in Ohio and Indiana due to the ongoing United Auto Workers (UAW) strike. This move is expected to further impact GM's production and financial performance.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2023 | 1:57 pm

MODG

Topgolf, a modern golf entertainment company, is set to open its first venue in Rhode Island and New England on October 6. The venue, which is Topgolf's 91st globally and 81st in the U.S., will employ around 500 people. The venue features 102 outdoor climate-controlled hitting bays, Toptracer technology, a full-service restaurant, and private event rooms. The opening is seen as a significant economic boost for the region, promising jobs and economic growth.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2023 | 12:50 pm

SYRS

Syros Pharmaceuticals is planning a workforce reduction of approximately 35% to focus on the late-stage development of Tamibarotene in MDS and AML and ongoing pre-launch activities.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2023 | 12:49 pm