Applications for jobless benefits fall to lowest level in nearly 8 months
U.S. businesses have been adding an average of about 236,000 jobs per month this year, down from the pandemic surge of the previous two years, but still a strong number.
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Stellantis makes new contract offer after announcing Indiana layoffs
A clue of possible strike targets might be found in locations where UAW locals have announced they will hold rallies and practice picketing in the coming days. Those include a Ford plant in Louisville and a GM plant in Bedford, Indiana.
Stellantis to lay off 300 workers in Kokomo as UAW strike reaches 6th day
Stellantis, which makes Chrysler, Dodge and Jeep vehicles, said Wednesday that the layoffs are a consequence of the strike at its assembly plant in Toledo, Ohio.
Biden uses executive power to create New Deal-style American Climate Corps
The White House said the program will employ more than 20,000 young adults who will build trails, plant trees, help install solar panels and do other work to boost conservation and help prevent catastrophic wildfires.
Federal Reserve expected to leave its key interest rate unchanged
Further clues about the future path of the Fed’s interest rate policy could emerge at a news conference Wednesday after the central bank issues a policy statement and its quarterly economic projections.
UPDATE: UAW threatens to expand strike if there’s no substantive progress by Friday
UAW President Shawn Fain said workers at more factories will join those who are now in the fifth day of a strike at three plants.
Former Indiana congressman sentenced to 22 months in prison for insider trading
Steve Buyer was convicted in connection with insider trading involving the $26.5 billion merger of T-Mobile and Sprint, announced in April 2018, and illegal trades in the management consulting company Navigant.
Instacart goes from supermarket to stock market, raising $660M with IPO
The pricing of the IPO gave Instacart a market value of around $10 billion, significantly lower than the $39 billion value placed on it after a fundraising round in 2021.
Carmakers, United Auto Workers talking, but no signs of breakthrough to end strike
UAW President Shawn Fain said more factories could be targeted if “serious progress” toward an agreement isn’t reached by Friday at noon. “We’re not messing around,” he said.
Ganassi to expand to 5 cars next IndyCar season with 18-year-old Kyffin Simpson
The expansion for Simpson will give Ganassi three rookies in next year’s Indianapolis 500.
UAW points to CEO pay raises to justify its wage demands
The United Auto Workers union has made pay disparity between CEOs and workers a central part of its argument for a big worker wage increase. A detailed look shows a more complicated picture.
Indoor farming players struggling to find profitability
Some businesses in the industry are continuing to bet big even as rivals such as AppHarvest wobble and fail.
Indiana state senator says he’ll resign, citing `new professional endeavors’
Indiana Sen. Jon Ford, who is chairman of the Senate Committee on Elections, was first elected to the seat in 2014. He was reelected in 2018 and 2022.
About 13,000 workers from General Motors, Ford, Stellantis go on strike
It was the first time in the UAW’s 88-year history that it walked out on all three companies simultaneously, as four-year contracts with the companies expired at 11:59 p.m. Thursday.
IRS to pause taking claims for pandemic-era tax credit due to influx of fraudulent claims
The IRS has received 3.6 million claims for the credit over the course of the program. It said hundreds of criminal cases have been started and thousands of claims have been referred for audit.
Casino giant Caesars Entertainment reports cyberattack, joining MGM Resorts
While some MGM Resorts computer systems were still down, Caesars told federal regulators on Thursday that its casino and online operations were not disrupted.
Hunter Biden indicted on federal firearms charges in long-running probe
President Joe Biden’s son has also been under investigation for his business dealings. The special counsel has indicated that charges of failure to pay taxes on time could be filed in Washington or in California, where he lives.
Automakers on verge of strike as UAW’s contract deadline looms
Union President Shawn Fain said the final decision on which plants to strike won’t be announced until 10 p.m. Thursday.
Retail sales rose 0.6% in August, largely due to spike in gas prices
The most recent quarterly financial reports from retailers showed that Americans remain cautious as higher interest rates make cars, homes or using credit cards more expensive.
NFL players union renews call for grass fields after Aaron Rodgers’ injury
The NFL Players Association called on the league Wednesday to switch all fields to grass in what executive director Lloyd Howell said was “the easiest decision the NFL can make.”