Streetbeat News

Labor Issues

ASLN

ASLAN Pharmaceuticals announced that its sole operating subsidiary has filed for voluntary liquidation, resulting in the immediate termination of all employees at ASLAN SG and fellow subsidiary ASLAN Pharmaceuticals.

Portfolio Pulse from Benzinga Newsdesk

July 17, 2024 | 11:28 am

DBA

FAAR

ITB

PKB

WEAT

XHB

As record-breaking heat waves sweep across the U.S., a debate is emerging over whether federal and state protections should be granted to workers exposed to extreme heat. The Biden administration has proposed a new OSHA rule to protect workers, but its future depends on the 2024 election outcome. The rule could impact various sectors, including construction and agriculture, which are tracked by ETFs like ITB, XHB, PKB, DBA, WEAT, and FAAR.

Portfolio Pulse from Natan Ponieman

July 16, 2024 | 8:31 pm

CRBU

Caribou Biosciences has decided to discontinue its preclinical research on the allogeneic CAR-NK platform and reduce its workforce by 21 positions. These cost containment measures are expected to extend the company's cash runway by at least 6 months into the second half of 2026.

Portfolio Pulse from Benzinga Newsdesk

July 16, 2024 | 8:18 pm

SPY

Fed's Kugler stated that the Federal Reserve does not want the cooling of the labor market to come through layoffs. The Fed is paying close attention to how immigration is accounted for in employment reports.

Portfolio Pulse from Benzinga Newsdesk

July 16, 2024 | 7:35 pm

SPY

Fed's Kugler expresses cautious optimism that disinflation is back on track, with progress in wage moderation and housing. He notes substantial rebalancing in the labor market but emphasizes that the Fed does not want the labor market to cool too much.

Portfolio Pulse from Benzinga Newsdesk

July 16, 2024 | 7:31 pm

FSTA

WMT

XLP

Walmart Inc. (NYSE:WMT) shares are trading at $70.14, up 0.73%. Evercore ISI Group raised the price target from $73 to $74. The workers' union in Chile canceled a strike, extending the labor agreement by 18 months. Walmart opened a new perishable distribution center in Lancaster, Texas. The Chinese Ministry of Commerce held talks with Walmart's CEO about economic ties and operations in China.

Portfolio Pulse from Nabaparna Bhattacharya

July 16, 2024 | 6:07 pm

GATX

Unifor members at GATX Rail in Red Deer, Alberta, have ratified a new 4-year collective agreement. This development involves members of Unifor Local 21-A.

Portfolio Pulse from Benzinga Newsdesk

July 16, 2024 | 5:10 pm

UAL

United Airlines flight attendants, represented by the Association of Flight Attendants-CWA, will vote on strike authorization due to stalled contract negotiations. This is the first strike vote since 2005. The vote will take place from August 1 to August 28, 2024. The union's CHAOS™ strategy could disrupt flights if negotiations fail.

Portfolio Pulse from Benzinga Newsdesk

July 16, 2024 | 4:26 pm

AMZN

GOOGL

MSFT

NVDA

VCR

XLY

Amazon is under FTC scrutiny for hiring top AI talent from Adept, reflecting broader concerns about AI-related deals. The inquiry focuses on Amazon's hiring of Adept's CEO and other key personnel, as well as licensing some of Adept's technology. This is part of a larger investigation into AI partnerships involving major tech firms like Microsoft and Nvidia.

Portfolio Pulse from Shivani Kumaresan

July 16, 2024 | 2:58 pm

SNDL

SNDL Inc. (NASDAQ:SNDL) announced a restructuring project that includes consolidating its cannabis segments into a single unit. The project aims to enhance efficiency, reduce corporate overheads, and save over $20 million annually. The restructuring will require an $11 million investment over 18 months, with savings expected by mid-2025.

Portfolio Pulse from Jelena Martinovic

July 16, 2024 | 2:26 pm