The United Auto Workers union has made a labor contract counterproposal to Ford Motor, while Chrysler-parent Stellantis is planning its counteroffer, as talks heat up ahead of the expiration of current labor agreements.
The United Auto Workers (UAW) is ready to strike against Ford, General Motors, and Stellantis if new contracts are not reached before the deadline, with UAW President Shawn Fain emphasizing the union's demands for a pay raise and reduced workweek.
Federal Reserve Chair Jerome Powell suggests that raising interest rates may be necessary if the economy does not slow down and inflation continues to rise.
China's economic troubles, including a real estate crisis, an aging population, and rising debt, resemble Japan's long-standing issues, leading some experts to predict a potential "lost decade" for China similar to Japan's economic stagnation in the 1990s, while Japan is showing signs of climbing out of its deflationary nightmare.
The release of a new Huawei smartphone during a visit by the US commerce secretary to China highlights the ongoing conflict between the US and China over technology, as Huawei's use of advanced chips raises questions about the effectiveness of US trade restrictions.
The non-profit Mozilla Foundation has declared cars as the "worst product category" for data privacy, with top brands like Tesla, Nissan, and Hyundai failing privacy tests due to issues such as untrustworthy use of AI and sharing personal information with government and law enforcement.
The U.S. Court of Appeals ruled that the Securities and Exchange Commission (SEC) wrongly denied Grayscale Investments' application to create a Bitcoin exchange traded fund, leading to a surge in cryptocurrency prices and potentially bringing the creation of a Bitcoin fund traded on traditional stock exchanges closer to reality.
Roku is laying off 10% of its workforce, removing streaming content, consolidating office space, and reducing expenses in an effort to significantly reduce operating expenses and improve financial performance.
Sam Bankman-Fried's request to be released from jail in order to better prepare for his upcoming criminal trial over the collapse of his cryptocurrency exchange, FTX, was denied by the 2nd US Circuit Court of Appeals, although they will consider the request in the future.
Gas prices in California have increased throughout August and are expected to be high over the Labor Day weekend, with the average price for a gallon of gasoline at $5.26, up 8 cents from last week and 37 cents from a month ago, according to AAA.
Starting from January 1, 2024, Minnesota's minimum wage rates will be adjusted for inflation, with large employers paying a minimum of $10.85 per hour and other state minimum wages set at $8.85 per hour, in order to provide greater earning power for low-wage workers.
Starbucks is introducing its third official pumpkin-inspired beverage, the iced pumpkin cream chai tea latte, as part of its fall menu, along with other seasonal offerings and exclusive pumpkin spice drinks at Starbucks Reserve locations.
Zoom CEO Eric Yuan is requiring employees within 50 miles of an office to report in person at least two days a week, stating that it's difficult to build trust and have innovative conversations on the company's own video platform as it makes people too friendly.
Instacart, the grocery delivery service, plans to go public in an initial public offering (IPO) after revealing that it has managed to turn a profit unlike other gig economy companies, although the growth of its core grocery delivery business is slowing.
Under Armour founder Kevin Plank provided confidential financial information and sought the assistance of television anchor Stephanie Ruhle in addressing negative publicity.
WeWork plans to renegotiate the majority of its leases in an effort to reduce operating expenses and secure its future, just weeks after expressing doubts about its ability to stay in business.
Toyota has unveiled a new Century SUV in Japan, designed for VIPs with a price tag of around $170,000, featuring a 3.5-liter V-6 plug-in hybrid powertrain and luxurious rear seats.
3M settles with 250,000 plaintiffs for $6.01 billion over defective earplugs, but still faces expensive legal issues including a $10.3 billion settlement with water utilities and potential PFAS liabilities exceeding $30 billion.
ERCOT has entered the second level of emergency operations and issued an Energy Emergency Alert 2 (EEA 2) to maintain grid reliability, but this does not mean controlled power outages are expected; instead, ERCOT is bringing all available generation online, releasing remaining reserves, and using demand response to lower electric demand.
The chair of the House of Representatives' committee on China has called for the U.S. Commerce Department to halt all technology exports to Huawei and China's top semiconductor firm, SMIC, due to the discovery of new chips in Huawei phones that may violate trade restrictions.
Investopedia's daily ranking of the best CD rates now includes seven more options paying at least 5.50% APY, bringing the total number of certificates in that tier to 37, which is more than double the number from when August began, and a new contender is offering the highest nationwide rate of 5.75%.
Mitchell Gold + Bob Williams, a national retail furniture chain, is closing down due to weak sales and difficulty obtaining financing, resulting in the loss of 500 jobs in North Carolina.
Southwest Airlines warns of softer August bookings and higher fuel costs in the third quarter due to a rise in crude oil prices, while United Airlines and Alaska Air Group also anticipate increased fuel costs.
Flexport CEO Dave Clark is resigning from his position and handing over leadership to founder Ryan Petersen, after just one year in the role and six months as the sole CEO, as he considers running for governor in Texas.
Dow Jones & Company, Inc. holds the copyright for the given content.
Wendy's is introducing two new pumpkin-spiced items to its menu, the Pumpkin Spice Frosty and Pumpkin Spice Frosty Cream Cold Brew, in an effort to cater to the cravings of fall and compete with other chains like Starbucks and Dunkin'.
Car makers Nissan and Kia have been found to collect personal data on their drivers' "sexual activity" and "sex lives" and may sell this information to third-party advertisers, according to a study by the Mozilla Foundation.
Qantas has placed an order for 12 Airbus A350-1000s and 12 Boeing 787 Dreamliners as part of its fleet renewal plan, with the new aircraft set to replace its aging fleet of A330s and A380s.
Philadelphia Federal Reserve Bank President Patrick Harker suggests that the central bank may maintain steady interest rates in September and for an extended period of time to allow previous rate hikes to continue lowering inflation.
Oil prices could reach triple-digit territory by next year if Russia and Saudi Arabia maintain their aggressive supply cuts, according to Goldman Sachs, with Brent crude potentially climbing to $107 a barrel by December 2024.
The Federal Reserve is considering raising interest rates again in order to reduce inflation to its targeted levels, as indicated by Fed Governor Michelle W. Bowman, who stated that additional rate increases will likely be needed; however, conflicting economic indicators, such as job growth and wage growth, may complicate the decision-making process.
Billionaire investor Bill Gates purchased 1.7 million shares of Anheuser-Busch last quarter, valued at $95 million, seeing the beer's slump as an opportunity to buy the dip following the backlash against Bud Light's partnership with transgender activist Dylan Mulvaney.
China's imports and exports experienced a monthly decline in August, with exports falling by 8.8% and imports falling by 7.3%, indicating ongoing challenges despite some slight improvement.
Dow Jones futures, S&P 500 futures, and Nasdaq futures are set to open on Sunday evening, with the stock market experiencing a mixed week as major indexes suffered reversals despite strong earnings from Nvidia, leading to caution for investors in the current environment.
AAA expects a higher number of travelers for Labor Day weekend compared to last year, with increased bookings for flights, hotels, rental cars, and cruises, and advises drivers to travel at off-peak hours to avoid heavy traffic.
ERCOT's power grid in Texas returned to "normal conditions" after entering an "Energy Emergency Alert 2" and appealing for conservation due to high demand and low reserves.
Apple stocks fell 3.6% after China reportedly banned officials from using or bringing iPhones and other foreign-branded devices into the office, signaling Beijing's push to reduce dependence on American technologies.
Amazon has increased the minimum threshold for free shipping on its platform to $35 for customers who don't have a Prime subscription.
The number of available Airbnb listings in New York City has decreased by 15,000 due to a new rule requiring hosts to register with the city, resulting in a "de facto ban" on short-term rentals.
Shares of AMC Entertainment fell over 35% after the company announced plans to sell more than 40 million common shares, following its recent 1-for-10 reverse stock split and a decline of 84% in the last year.
The Coalition of Kaiser Permanente Unions, representing over 85,000 healthcare workers, plans to vote for a strike due to concerns about unsafe staffing levels and unfair labor practices, potentially leading to the largest strike of healthcare workers in US history.
Frozen sweet corn and mixed vegetables sold at Food Lion and Kroger are being recalled due to potential contamination with harmful bacteria.
Chinese hackers breached senior US officials' emails by first stealing sensitive data from a Microsoft engineer, giving them access to a cryptographic key used to break into the officials' email accounts.
The Powerball jackpot is estimated to be $461 million for Wednesday's drawing, with the winning numbers being 9, 14, 20, 23, 63, and the Powerball being 1.
Nvidia and Google Cloud Platform are expanding their partnership to support the growth of AI and large language models, with Google now utilizing Nvidia's graphics processing units and gaining access to Nvidia's next-generation AI supercomputer.
The new COVID-19 vaccine from Moderna appears to provide strong protection against the highly mutated BA.2.86 subvariant, according to updated vaccine data, offering reassurance as manufacturers and public health officials continue to combat the evolving coronavirus.