The United Auto Workers (UAW) union has authorized a strike at the Detroit Three automakers if a new labor contract is not reached by September 14, with 97% of voting members at General Motors (GM), Ford Motor, and Stellantis in favor of the authorization.
Workers at Chevron's liquefied natural gas facilities in Australia are planning to strike, which could result in a loss of around 7% of global supply and potential price increases.
Gas prices are historically high for Labor Day, with the national average for regular gas at $3.83 a gallon and some states averaging $4 a gallon or more due to factors such as OPEC holding back supply, extreme heat affecting refineries, and easing recession fears boosting oil prices.
The United Auto Workers union and three Detroit automakers are facing a looming strike as contract negotiations stall, potentially impacting the U.S. economy and the companies' profits amid the shift to electric vehicles and demands for improved wages and benefits.
The demands of the United Auto Workers (UAW) union, including higher pay, shorter work hours, and the restoration of pensions, could lead to a strike against General Motors, Stellantis, and Ford as the automakers refuse to meet these demands, potentially raising already-inflated vehicle prices.
Strikes at Australian natural gas facilities could lead to a global shortage of gas supply and higher European gas prices, as the market is currently very tight with little flexibility, according to energy analysts. The strikes are scheduled to begin on Thursday unless an agreement is reached between Chevron and the unions representing workers at the Gorgon and Wheatstone projects. However, analysts believe that prices are unlikely to reach the record peaks seen in September 2021. The gas market also remains sensitive to other factors, such as disruptions caused by winter storms or a cut in Russian gas supply. There is also uncertainty surrounding the future of gas transit through Ukraine, which could further impact European gas prices.
GM, Ford, and Tesla are expected to face rising labor costs, whether or not a strike occurs as the United Auto Workers' labor deal with the Detroit-Three automakers nears its expiration.
Trade unions in the US are experiencing a resurgence, with an increase in strikes and rising public support, and this is now extending to American firms abroad, as workers at Chevron plants in Australia consider going on strike.
European gas prices surged as workers at Australian natural gas facilities went on strike, raising concerns about global supply shortages. The strike, which is a result of failed negotiations over pay and job security, could potentially lead to a two-week halt in production.
Workers at Chevron's liquified natural gas facilities in Australia have gone on strike, putting as much as 7% of global supplies at risk and potentially increasing pressure on energy prices.
The United Auto Workers' potential strike could cost the U.S. economy $5 billion and disrupt production at certain UAW factories, particularly targeting Ford's popular F-150 pickup truck, potentially leading to higher prices and affecting the broader auto industry.
Approximately 146,000 U.S. auto workers are poised to go on strike if General Motors, Ford, and Stellantis fail to meet their demands for substantial pay raises and restored benefits, potentially causing significant disruptions in auto production and impacting the U.S. economy.
The United Auto Workers union is ready to go on strike at American automakers if a tentative deal is not reached by Thursday night, with the union demanding significant wage increases and the return of traditional pension plans and retiree healthcare for all members.
A potential strike by the United Auto Workers union against Ford, GM, and Stellantis could cost the economy $5.6 billion and impact Biden's chances in the election, as it may drive up inflation and push Michigan into a recession.
The United Auto Workers and the "Big Three" U.S. automakers are negotiating a new labor contract, with the possibility of a strike looming and workers demanding a 20% raise and other benefits, which could potentially impact the Michigan economy and lead to costlier electric vehicles.
Car dealerships are preparing for potential strikes by the United Auto Workers against Ford, General Motors, and Stellantis, which could lead to inventory shortages and higher prices for both new and used cars.
The United Auto Workers' threat to strike against major automakers could test Joe Biden's claim of being the most pro-union president in US history and have significant economic and political implications, potentially causing car shortages and layoffs in auto-supply industries and other sectors.
A potential strike by the United Auto Workers could have wide-ranging economic impacts, including higher car prices and job losses at suppliers, with a prolonged strike even potentially pushing the economy toward a recession.
The United Auto Workers' strike against car companies in Michigan is seen as a real-time test of President Biden's economic agenda and policy positions, including higher wages for the middle class, support for unions, and the push for an electric vehicle future.
The United Auto Workers (UAW) held a limited and targeted strike against General Motors, Ford, and Stellantis over issues including pay, pensions, and work hours, with demands for a 40% wage increase over four years and improvements to retiree benefits; the automakers have offered wage increases of around 14.5% to 20% over the same period, citing investments in electric vehicle production and the need to balance wage increases with costs associated with EV development.
The strike by United Auto Workers against the Big 3 carmakers has sparked concern among stock-market investors over the impact on the economy, supply chains, and corporate profits.
Autoworkers strike as United Autoworkers Union demands 36% pay increase over four years, affecting Michigan, Ohio, and Missouri; President Biden to speak on the matter later today.
The strike by autoworkers against the Big 3 U.S. automakers highlights the growing gap between CEO and worker pay, with the United Auto Workers demanding a 46% raise for workers over the next four years, exceeding the combined 40% increase in CEO compensation over the past four years.
Gas prices drive up US inflation rate, reaching 3.7% in August, while excluding volatile components shows a favorable trend in core inflation; Tesla rallies following an upgrade by Morgan Stanley, Qualcomm secures a deal with Apple, and ARM Holdings PLC debuts with the largest IPO of the year; United Auto Workers strike against Detroit automakers; upcoming Federal Open Market Committee meeting and corporate earnings reports are in focus for the week ahead.
Gas prices in the United States have been increasing due to OPEC's reduction in drilling, and California has the highest gas prices in the country due to high state taxes and limited competition in the gasoline market.
The Fed is expected to hold interest rates steady, while the UAW strike against automakers continues and other labor unions push back against the ownership class; negotiators from the White House are being sent to help resolve the autoworkers' impasse, and other events such as earnings reports and IPOs are also taking place.
The United Auto Workers strike presents a risk to the U.S. economy, but it also demonstrates that workers are advocating for their fair share in a strong macroeconomy, according to Council of Economic Advisers Chair Jared Bernstein.
The ongoing United Auto Workers strike against the Big Three automakers could result in gains for Tesla and foreign automakers as Ford, GM, and Stellantis face challenges in transitioning to electric vehicles and potentially raising prices, according to Wedbush analysts.
The presence of foreign automakers in the southern United States has been driven by the region's union opposition and the financial incentives offered, but a successful United Auto Workers (UAW) strike could lead to pay raises and make the UAW more attractive, causing concern for foreign automakers who have chosen the South as their manufacturing base.
The United Auto Workers' strike against Big Three automakers may not have an immediate impact on car shoppers, but there is a risk of parts shortages and longer repair times, with potential price increases in the long run.
Summary: The United Auto Workers' strike against the Big Three automakers continues, with Ford reaching a deal with Canadian auto workers but no breakthroughs in negotiations with the UAW, as President Joe Biden prepares to visit the picket lines amid concerns over parts and supply shortages.
Negotiators for the United Auto Workers (UAW) and Ford Motor have made progress on pay increases, but significant issues such as pay and union representation at future battery plants remain unresolved, as the ongoing strike against the Detroit Three automakers enters its 20th day.
The president of the United Auto Workers urges union members to continue their strike against Detroit carmakers, highlighting the importance of the labor movement and the fight against corporate greed.
Used car prices increased last month, and the ongoing United Auto Workers (UAW) strike is expected to impact new car prices in October.
The United Auto Workers' strike at Ford's Kentucky truck plant raises concerns about the spread of the economic effects of the work stoppage and the potential for more aggressive strikes against other automakers such as GM and Stellantis.
The president of the United Auto Workers (UAW) labor union leading the strike against major U.S. automakers earned a high salary of $347,389, placing him in the top 5% of earners in his home state of Indiana.
