United Auto Workers (UAW) union leaders in Detroit have approved a tentative agreement with Ford Motor. The deal includes $8.1 billion in new plant investments, $5,000 ratification bonuses, and other economic gains such as compounded wage increases and improved profit-sharing payments. The 4 ½-year tentative agreement was announced last week and will now be presented…
Negotiators from the United Auto Workers (UAW) union and Stellantis have reached a tentative agreement after six weeks of labor strikes, according to sources familiar with the matter. The terms of the deal are still subject to approval by UAW leadership before being announced publicly on Saturday. This agreement is modeled after the one reached…
Contract negotiations between the United Auto Workers (UAW) and General Motors (GM) are set to resume on Friday after intense talks took place on Thursday night and into the morning, according to sources familiar with the discussions. The potential deal is based on a tentative agreement reached by the UAW with Ford Motor on Wednesday…
Saudi Arabia Maintains Ultimatum for Foreign Companies to Establish Regional HQs in the Kingdom By Pierre Herubel In a surprising move back in February 2021, the Saudi government announced that international companies would need to establish their regional headquarters in Saudi Arabia by January 1, 2024, or risk losing lucrative government contracts. This bold ultimatum…
United Auto Workers (UAW) union and Ford Motor are on the brink of reaching a tentative agreement that could put an end to a nearly six-week strike at the automaker, according to sources familiar with the matter. The announcement of the agreement is expected as early as Wednesday night, pending approval from UAW leaders. The…
Microsoft, Alphabet, Visa, Snap, Texas Instruments, CoStar Group, and Stride were the companies grabbing attention in extended trading. Shares of Microsoft surged by over 3% after the tech giant reported its fiscal first-quarter results, surpassing analysts’ expectations. The company’s earnings per share stood at $2.99 on $56.52 billion in revenue, outperforming forecasts of EPS at…
Deeply divided Republican lawmakers are currently facing a leadership crisis in the House of Representatives as they try to select a nominee for speaker for the third time. After two previous candidates failed to garner enough support within the party, Republicans held a closed-door candidate forum on Monday evening with nine lawmakers vying for the…
Shares of Redfin surged 12% in extended trading after the company announced a major financial commitment. According to a filing with the U.S. Securities and Exchange Commission, funds managed by Apollo Capital and its affiliates have agreed to provide up to $250 million in financing to the real estate brokerage through a loan. This deal…
Chevron and Hess are making headlines as Chevron announced its plan to acquire smaller rival Hess in an all-stock deal worth $53 billion. This deal, valued at $171 a share, caused Chevron shares to drop more than 2%, while Hess shares saw a slight increase. In other news, Apple experienced a 1.5% decrease in its…
Former FTX CEO Sam Bankman-Fried, who is currently facing fraud charges over the collapse of the bankrupt cryptocurrency exchange, was compared to a scene from the movie “Dumb and Dumber” by prosecutors in the ongoing criminal trial. Prosecutors criticized several of the jury instructions provided by the defense team, specifically highlighting a directive that drew…
