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Labor Issues

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Unions have announced a one-day strike at Stellantis NV's Melfi plant in Italy due to concerns over the production of new models. The strike is unrelated to the ongoing strike by the United Auto Workers in the U.S. at factories owned by General Motors Co., Ford Motor Co., and Stellantis NV.

Portfolio Pulse from Benzinga Neuro

September 16, 2023 | 7:31 am

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CNBC's Jim Cramer has suggested that the Big Three automakers, General Motors Corp. (GM), Ford Motor Co. (F), and Stellantis NV (STLA), should temporarily move production to Mexico for two years amid the ongoing United Auto Workers (UAW) strike. This proposal has been criticized by Rep. Alexandria Ocasio-Cortez. The UAW strike has disrupted operations and led to a supply chain crisis.

Portfolio Pulse from Ananya Gairola

September 16, 2023 | 5:03 am

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The United Auto Workers (UAW) strike at a Missouri plant has raised concerns about a potential shutdown of General Motors Corp.'s (NYSE:GM) Kansas assembly plant due to parts shortages. The strike was initiated due to disputes over wages and job security, and has already begun to disrupt production schedules. Ford Motor Co. (NYSE:F) and Stellantis NV (NYSE:STLA) were also affected by the strike.

Portfolio Pulse from Ananya Gairola

September 16, 2023 | 3:22 am

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The United Auto Workers (UAW) union will resume negotiations after strikes at General Motors Co., Ford Motor Co., and Stellantis NV plants caused parts shortages and halted production of several models. The strike is demanding a larger share of profits, shorter work weeks, restoration of pensions, and stronger job security as automakers transition to electric vehicles.

Portfolio Pulse from Benzinga Neuro

September 16, 2023 | 2:42 am

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The United Auto Workers (UAW) union's strike against leading Detroit car manufacturers, including Ford Motor Co. (F), General Motors Co. (GM), and Stellantis NV (STLA), is disrupting assembly lines and causing temporary layoffs. Ford's Michigan Assembly Plant has laid off nearly 600 staff members. The strike has also impacted GM's facility in Missouri, Stellantis's Jeep hub in Toledo, and designated areas of Ford's Michigan Assembly Plant. The strike could potentially lead to a halt in operations at GM's Fairfax Assembly unit due to a component scarcity.

Portfolio Pulse from Michael Cohen

September 15, 2023 | 9:22 pm

GM

General Motors (GM) has announced that it expects to run out of parts at its Kansas plant as soon as next week due to a strike at its Missouri plant.

Portfolio Pulse from Benzinga Newsdesk

September 15, 2023 | 8:32 pm

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Ford Motor Company has announced layoffs due to a strike. The extent and duration of the layoffs are not specified in the article.

Portfolio Pulse from Benzinga Newsdesk

September 15, 2023 | 8:27 pm

ARM

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NFLX

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The US annual inflation rate increased to 3.7% in August, driven by a 6% rise in gasoline prices. Core inflation, however, decreased slightly. Tesla and Qualcomm saw stock increases, while Oracle and Netflix experienced decreases. ARM Holdings had a successful IPO, and the United Auto Workers launched a strike against Ford, Stellantis, and General Motors. The upcoming FOMC meeting and corporate earnings reports from AutoZone, General Mills, Darden Restaurants, and FactSet Research Systems are in focus for the coming week.

Portfolio Pulse from Piero Cingari

September 15, 2023 | 8:21 pm

DIS

Disney's Chief Information Officer (CIO) has left the company, according to The Wall Street Journal. The departure of the CIO could potentially impact the company's IT strategy and operations.

Portfolio Pulse from Benzinga Newsdesk

September 15, 2023 | 8:14 pm

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The United Auto Workers (UAW) union's decision to strike at three major auto plants, including Ford Motor Co (F), General Motors Co (GM), and Stellantis NV (STLA), has drawn attention from the Chamber of Commerce, which suggests that policies from the Biden administration may have influenced the decision. The UAW's demands, including a wage increase of up to 40%, have been met with counteroffers from Ford and General Motors, which have proposed a 20% wage hike. The strike continues despite these discussions.

Portfolio Pulse from Michael Cohen

September 15, 2023 | 7:54 pm