Streetbeat News

Labor Issues

SPY

Federal Reserve Chair Jerome Powell has stated that the current unemployment rate being at the same level as lift off is a 'real blessing'. However, he also noted that some softening in labor conditions is still likely.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 6:50 pm

SPY

Federal Reserve Chair Jerome Powell has stated that labor demand in the U.S. still substantially exceeds supply, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 6:34 pm

SPY

Federal Reserve Chair Jerome Powell has indicated that there are continuing signs of labor supply and demand coming into better balance. This statement could have implications for the broader market and economy.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 6:33 pm

AMZN

Amazon delivery drivers and dispatchers from Palmdale, California have extended their strike to an Atlanta area warehouse. The strike could potentially disrupt Amazon's delivery services.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 5:17 pm

UFI

Craig Creaturo, Executive Vice President and CFO of Unifi Inc, has resigned from his positions, effective August 25. Unifi has appointed Andrew Eaker as interim CFO.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 1:11 pm

INFI

Infinity Pharmaceuticals has announced plans to reduce its workforce by 78%, according to an 8K filing.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 8:07 am

DIS

META

Bryan Cranston, known for his roles in 'Malcolm in the Middle' and 'Breaking Bad', has shown support for striking members of SAG-AFTRA, directly confronting Walt Disney Co (NYSE:DIS) CEO Bob Iger. The actor's speech comes amidst a labor dispute in Hollywood, where emerging AI technology is causing concerns among actors and writers. The use of AI in filmmaking is raising questions about job security, intellectual property rights, and creative control. The issue has also sparked a lawsuit against ChatGPT maker OpenAI and Meta Platforms Inc (NASDAQ:META).

Portfolio Pulse from AJ Fabino

July 25, 2023 | 7:29 pm

MCD

The Department of Labor has found child labor violations at 16 McDonald's franchise locations in Louisiana and Texas, affecting 83 minors. In Louisiana, CLB Investments LLC was fined $56,106 for violations at 12 locations. In Texas, Marwen & Son LLC was fined $21,466 for violations at four locations. This follows a May 2023 announcement of similar violations by three McDonald's franchise operators in Kentucky.

Portfolio Pulse from Happy Mohamed

July 25, 2023 | 4:33 pm

UPS

United Parcel Service Inc (UPS) and the Teamsters union have reached a tentative collective bargaining agreement, avoiding a potential strike. The deal, which UPS describes as a 'win-win-win agreement', will span five years and includes wage increases, job creation, and workplace improvements. The agreement is set to be reviewed and recommended by Teamster representatives on July 31, with members voting on the contract between August 3-22. UPS shares traded higher on news of the deal.

Portfolio Pulse from Adam Eckert

July 25, 2023 | 4:31 pm