Streetbeat News

Labor Issues

General Motors (GM) has made an offer to the United Auto Workers (UAW) union that includes a 20% wage increase over the life of the agreement, according to a company statement.

Portfolio Pulse from Benzinga Newsdesk

September 14, 2023 | 6:43 pm

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Shares of used car retailers are trading higher due to the approaching UAW strike deadline. A potential strike could impact vehicle production at large automakers, driving used car prices higher.

Portfolio Pulse from Benzinga Newsdesk

September 14, 2023 | 6:32 pm

General Motors Co has made another offer to the United Auto Workers (UAW) for a new labor deal, with the aim of avoiding a strike. The company remains in talks with the UAW.

Portfolio Pulse from Benzinga Newsdesk

September 14, 2023 | 4:32 pm

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The United Auto Workers (UAW) union is demanding a 36% increase in salary from the 'big three' auto manufacturers — General Motors (GM), Ford (F), and Stellantis (STLA) — who have offered roughly half that. If no agreement is reached by the end of the day, a strike is likely, which would be the first simultaneous strike in UAW's 80-year history. This could cost the U.S. economy billions and add further strain to an economy already dealing with high inflation. Tesla (TSLA), not represented by a union, does not face this challenge.

Portfolio Pulse from Anthony Noto

September 14, 2023 | 4:03 pm

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Bayer's new CEO, Werner Baumann, plans to cut management jobs as part of a larger overhaul of the company. This move is seen as a prelude to a more comprehensive restructuring of the company.

Portfolio Pulse from Benzinga Newsdesk

September 14, 2023 | 3:59 pm

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Krishna Juvvadi, Head of Legal, and Sidney Majalya, Chief Risk Officer, are reportedly leaving Binance, the world's largest cryptocurrency exchange by trading volume.

Portfolio Pulse from Benzinga Newsdesk

September 14, 2023 | 3:50 pm

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The United Auto Workers (UAW) union has announced that as time goes on, the strike will expand to more facilities as needed. This could potentially affect companies like Ford (F), General Motors (GM), and Stellantis (STLA).

Portfolio Pulse from Benzinga Newsdesk

September 14, 2023 | 3:24 pm

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The United Auto Workers (UAW) union has announced a new strike strategy, which will target an unspecified number of facilities for a walkout at midnight. This action is in response to Ford (F), General Motors (GM), and Stellantis (STLA) potentially failing to offer fair contracts to 150,000 autoworkers.

Portfolio Pulse from Benzinga Newsdesk

September 14, 2023 | 3:23 pm

Sweetgreen, a US-based fast-casual restaurant chain, is facing a lawsuit from workers at seven of its New York locations over alleged racial discrimination. The news was reported by CNBC.

Portfolio Pulse from Benzinga Newsdesk

September 14, 2023 | 2:13 pm

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Arm Holdings is preparing for an IPO that could value the company at $54 billion. Goldman Sachs has dismissed multiple employees due to violations of its communications guidelines. Google is reducing its global recruiting department due to a hiring slowdown. Starbucks founder and former CEO Howard Schultz is leaving the company's board. Marvel Studios' VFX workers have voted for unionization. Singapore may impose new rules on ride-hailing companies like Grab Holdings. Kroger's Home Chef division is in a logo dispute with Grubhub. Carrefour is issuing price alerts on products from suppliers like Nestle, PepsiCo, and Unilever. CrownRock is preparing for a potential sale that could value the company at over $10 billion. Delta Air Lines and United Airlines are facing an antitrust lawsuit. Ron Baron holds over $1 billion in shares in SpaceX. Microsoft is facing a formal EU complaint over its Teams app. Electronic Arts' Stig Asmussen is leaving the company. OpenAI is opening a new office in Dublin. Caesars Entertainment has suffered a cybersecurity breach.

Portfolio Pulse from Vandana Singh

September 14, 2023 | 1:56 pm