Ford pausing construction of Michigan battery plant amid contract talks with UAW
In a statement, UAW President Shawn Fain called the move “a shameful, barely-veiled threat by Ford to cut jobs” at a plant that’s not open yet.
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Why the U.S. job market has defied rising interest rates, expectations of high unemployment
Last year’s spike in inflation, to the highest level in four decades, was painful enough for American households. Yet the cure—much higher interest rates, to cool spending and hiring—was expected to bring even more pain.
Indiana among 35 states to share $1.4B in federal funds for rail projects
Railroad safety has become a key concern nationwide ever since a train carrying hazardous chemicals derailed and caught fire in East Palestine, Ohio, in February.
IndyCar to return to Milwaukee Mile in 2024; Texas off schedule for first time since 1997
The 2024 season begins March 10 on the downtown streets of St. Petersburg, Florida, and ends Sept. 15 on Nashville’s downtown streets.
Tentative deal reached to end the Hollywood writers strike. No deal yet for actors
The writers walked off the job May 2 over issues including the size of staffs on shows, long-term payment for their work and the use of artificial intelligence in scripts.
Strike against automakers spreads to 38 locations in 20 states, but not Indiana
The UAW on Friday targeted GM and Stellantis distribution centers throughout the United States. Ford was spared additional walkouts because the company has met some of the union’s demands.
Biden administration aims to scrub medical debt from credit scores, boosting ratings for millions
In addition to pulling medical bills from credit reports, the proposal would prevent creditors from using medical bills when deciding on loans and stop debt collectors from using credit ratings to pressure people with health care-related debt.
Search engine founder testifies that Google’s partnerships thwart competition
Appearing in the biggest antitrust trial in a quarter century, DuckDuckGo founder Gabriel Weinberg testified Thursday that it was hard for his small search engine company to compete with Google.
Tech companies try to take AI image generators mainstream
Leading tech companies are rushing to integrate artificial intelligence text-to-image generators into Adobe Photoshop, YouTube and other familiar tools.
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.
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.