Members of the United Auto Workers union picket outside the Michigan Assembly Plant in Wayne, Michigan, on Sept. 26, 2023. Matthew Hatcher | AFP | Getty Images DETROIT – Ford Motor is “at the limit” of what it can offer the United Auto Workers union in terms of economic concessions, an executive said Thursday as… Continue reading Ford says it’s ‘at the limit’ of what it can offer UAW as strikes escalate
Author: CNBC Online news
Cramer urges investors to stick with Ford, even as latest strike risks denting profits
The United Auto Workers’ unexpected strike at Ford Motor’s (F) biggest factory could result in a major blow to the automaker’s profitability if the facility remains shut down for a prolonged period. Still, this is not a time to drop Ford, as we expect an eventual agreement between the union and the Big Three Detroit… Continue reading Cramer urges investors to stick with Ford, even as latest strike risks denting profits
Tesla whistleblowers filed a complaint to the SEC in 2021, but the agency never interviewed them. Here’s what the complaint said
A Tesla Model Y on a Tesla car lot in Austin, Texas, May 31, 2023. Brandon Bell | Getty Images In the fourth quarter of 2021, a Tesla employee and a tech industry researcher jointly filed a whistleblower complaint to the U.S. Securities and Exchange Commission, expressing concerns that Elon Musk’s car company may have… Continue reading Tesla whistleblowers filed a complaint to the SEC in 2021, but the agency never interviewed them. Here’s what the complaint said
Delta says Hollywood, auto strikes are denting business travel
A Delta Airlines passenger jet approaches to land at LAX during the outbreak of the coronavirus disease (COVID-19) in Los Angeles, California, U.S., April 7, 2021. Mike Blake | Reuters Recent strikes by Hollywood talent and United Auto Workers union members are a “drag” on business travel demand, which is otherwise recovering, Delta Air Lines… Continue reading Delta says Hollywood, auto strikes are denting business travel
Why Cramer expects mega cap stocks will ‘shine’ in Thursday trading
Every weekday the CNBC Investing Club with Jim Cramer holds a Morning Meeting livestream at 10:20 a.m. ET. Here’s a recap of Thursday’s key moments. 1. U.S. equities were mixed in midmorning Thursday — the S & P 500 was down 0.13%, while the Nasdaq Composite rose 0.13% — following the release of the Labor… Continue reading Why Cramer expects mega cap stocks will ‘shine’ in Thursday trading
ChargePoint shares fall after EV charging operator announces $232 million raise
A ChargePoint electric vehicle charging station at Walnut Creek City Hall parking lot, Walnut Creek, California, April 18, 2023. Smith Collection/gado | Archive Photos | Getty Images Shares of EV charging network operator ChargePoint Holdings closed sharply lower Wednesday after the company said it’s raising $232 million via stock sales. The company’s stock was down… Continue reading ChargePoint shares fall after EV charging operator announces $232 million raise
Stellantis, Samsung SDI to build $3.2 billion EV battery plant in Indiana
The Dodge Charger Daytona SRT Concept all-electric muscle car is shown at its world reveal during Dodge’s Speed Week at M1 Concourse in Pontiac, Michigan, Aug. 17, 2022. Bill Pugliano | Getty Images DETROIT — Samsung SDI and automaker Stellantis plan to invest more than $3.2 billion in a new electric vehicle battery plant in… Continue reading Stellantis, Samsung SDI to build $3.2 billion EV battery plant in Indiana
General Motors reaches deal with Canadian autoworkers hours after union initiates strikes
Unifor worker Rob Nimigon holds a flag at a picket line outside an entrance to the GM’s Oshawa assembly complex, where the company’s profitable Chevrolet Silverado trucks are built, after 4,300 unionized workers went on strike at three General Motors plants, including Oshawa, Ontario, Canada October 10, 2023. Arlyn Mcadorey | Reuters DETROIT — General… Continue reading General Motors reaches deal with Canadian autoworkers hours after union initiates strikes
Treasury Department aims to make it easier to get $7,500 EV tax credit in 2024
Maskot | Maskot | Getty Images A new proposal by the U.S. Department of the Treasury would make it easier for consumers to get a tax credit when buying a new or used electric vehicle, according to tax and energy experts. Its proposed rules, issued Friday, would let car dealers offer the EV tax break… Continue reading Treasury Department aims to make it easier to get $7,500 EV tax credit in 2024
Xpeng suspends supply chain boss for corruption probe
The Xpeng G9 SUV is on display during the 20th Shanghai International Automobile Industry Exhibition at the National Exhibition and Convention Center in Shanghai, April 18, 2023. VCG | Visual China Group | Getty Images Chinese automaker Xpeng on Tuesday said it suspended Li Feng, its vice president in charge of supply chains, for a… Continue reading Xpeng suspends supply chain boss for corruption probe