United Auto Workers President Shawn Fain greets workers at the Stellantis Sterling Heights Assembly Plant, to mark the beginning of contract negotiations in Sterling Heights, Michigan, U.S. July 12, 2023. Rebecca Cook | Reuters DETROIT – The United Auto Workers union is preparing to conduct unprecedented, targeted strikes against Ford, General Motors and Stellantis if… Continue reading Everything you need to know about UAW’s targeted strike plans – and possible lockouts
Author: CNBC Online news
More companies, especially airlines, warn higher costs will eat into profits
An American Airlines 787 is loaded with cargo at Philadelphia International Airport. Leslie Josephs/CNBC More companies are warning that a surge in the cost of fuel and employee pay hikes will eat into profits this quarter. Companies from aerospace manufacturers to package delivery giant UPS are digesting big new labor deals. Meanwhile, unions from the… Continue reading More companies, especially airlines, warn higher costs will eat into profits
‘Blatantly protectionist’: China sharply rebukes EU probe on Chinese EV subsidies
Employees work on the assembly line of C11 electric SUV at a factory of Chinese EV startup Leapmotor on April 26, 2023 in Jinhua, Zhejiang Province of China. Vcg | Visual China Group | Getty Images China has accused the European Union of “blatant protectionism” after its executive arm unexpectedly launched an “anti-subsidy” investigation into… Continue reading ‘Blatantly protectionist’: China sharply rebukes EU probe on Chinese EV subsidies
Ford CEO rebuffs UAW leader’s criticisms as strike deadline on Thursday approaches
Ford CEO Jim Farley speaks with media after revealing the 2024 Ford F-150 for the Detroit auto show on Sept. 12, 2023. Michael Wayland / CNBC DETROIT – Ford Motor CEO Jim Farley rebuffed comments by United Auto Workers President Shawn Fain that the company is not taking bargaining seriously ahead of a Thursday night… Continue reading Ford CEO rebuffs UAW leader’s criticisms as strike deadline on Thursday approaches
Here’s every major reveal from the Detroit Auto Show
DETROIT — Even as the ongoing negotiations between the three Detroit automakers and the United Auto Workers labor union overshadowed all else in the industry, some companies used this year’s edition of the Detroit Auto Show to show off new and revamped models on Wednesday. The discussions around a new four-year contract have been tense,… Continue reading Here’s every major reveal from the Detroit Auto Show
The latest inflation uptick means the Fed will likely raise interest rates one more time
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 Wednesday’s key moments. Equities gain Knives out on Oracle A bold move on Ford 1. Equities gain, despite inflation uptick Stocks edged up in midmorning trading Wednesday — the S & P 500… Continue reading The latest inflation uptick means the Fed will likely raise interest rates one more time
Jim Cramer says ‘watch Ford as a barometer’ of potential United Auto Workers strike risk
Ford Motor‘s (F) stock may offer clues into Wall Street’s current attitude toward potential strikes by the United Auto Workers union, CNBC’s Jim Cramer said Wednesday. The UAW has been negotiating new contracts for its 146,000 members with the three Detroit automakers — Ford, General Motors (GM) and Jeep-owner Stellantis (STLA). The current contract expires Thursday at 11:59… Continue reading Jim Cramer says ‘watch Ford as a barometer’ of potential United Auto Workers strike risk
UAW will strike against Detroit automakers if deals aren’t reached by Thursday, union boss says
watch now The United Auto Workers union will strike against the Detroit automakers if the sides don’t reach labor deals by an 11:59 p.m. ET Thursday deadline, UAW President Shawn Fain said Wednesday on CNBC’s “Squawk Box.” Fain’s comments came the morning after he outlined plans to local union leaders about implementing targeted strikes at… Continue reading UAW will strike against Detroit automakers if deals aren’t reached by Thursday, union boss says
European Union launches anti-subsidy probe into Chinese EVs
China’s automobile and component exports more than doubled in 2021 from a year ago, exceeding 30% growth in China’s exports overall, Bernstein analysts found. Yi Fan | Visual China Group | Getty Images The European Commission, the executive arm of the European Union, on Wednesday launched an investigation into subsidies given to electric vehicle makers… Continue reading European Union launches anti-subsidy probe into Chinese EVs
Wall Street sees potential UAW strikes as manageable, with upsides
United Auto Workers members on strike picket outside General Motors’ Detroit-Hamtramck Assembly plant in Detroit, Sept. 25, 2019. Michael Wayland / CNBC DETROIT – Many on Wall Street view potential strikes by United Auto Workers against the Detroit automakers as largely manageable – even seeing investment opportunities. Some believe potential strikes are already factored into… Continue reading Wall Street sees potential UAW strikes as manageable, with upsides