UAW Strikes Could Disrupt Financial Plans of GM and Ford
The UAW strikes have cost General Motors (GM) and Ford over $5oo million combined. GM and Ford shares have fallen sharply since July as the
Daniel Zou
October 17, 2023
The UAW strikes have cost General Motors (GM) and Ford over $5oo million combined. GM and Ford shares have fallen sharply since July as the
The Strategic Petroleum Reserve (SPR) is nearing the lowest level since 1983 due to the Biden administration’s drawdowns and high market prices stalling efforts to
According to the Bureau of Labor Statistics (BLS) the U.S. annual inflation rate was unchanged at 3.7 percent in September. There was a rise at
As of Monday morning union workers at Volvo Group-owned Mack Trucks went on strike after rejecting a tentative agreement. About 73% of workers voted against
General Motors (GM) has laid off more workers due to the United Auto Workers (UAW) strike, bringing the total number of furloughed employees to over
The House voted on Thursday to provide $300 million in aid to Ukraine, passing 311-117, in a stand-alone bill that was detached from the annual
On Tuesday the House passed a procedural vote allowing consideration of four individual spending bills totaling almost $1.1 trillion just days before the fiscal year
The United Auto Workers (UAW) have expanded strikes against two of the three major auto makers in the U.S. adding 5,600 workers to the already
The U.S. Federal Reserve announced Wednesday that it will not raise interest rates for now, but with its new economic forecast, suggests it will raise
The United Auto Workers (UAW) strike against Ford, GM, and Stellantis has entered its seventh day and tensions are rising as the strike is causing
A short-term spending plan is being negotiated between Republican leadership and conservatives as the House moves quickly toward a government shutdown. The short-term spending plan
Former President Donald Trump announced that he will skip the second Republican presidential primary debate next week and instead, will hold a rally with striking
Nearly 13,000 United Auto Workers (UAW) members have begun a strike from the the top three U.S. automakers — Ford, General Motors, and Stellantis, maker
Christian and conservative organizations are increasingly being ‘de-banked’ by weaponized financial institutions. These institutions have closed accounts, turned off payment processors, and even placed some
Members of the House Select Committee on the Chinese Communist Party are looking into whether the Biden Administration is actively supporting Chinese companies to expand
On August 31 the White House asked Congress to approve a short-term funding measure to avert a government shutdown before money runs out at the
According to the latest ADP National Employment Report released Wednesday, U.S. companies added 177,000 jobs in July, down from the estimated 195,000. Another report released
The Bureau of Ocean Energy Management (BOEM) has removed 6.4 million acres from an upcoming oil and gas lease in the Gulf of Mexico. The
U.S. Federal Reserve Chairman Jerome Powell said that another hike in interest rates may be necessary to ensure inflation is contained. Powell also said, “It
According to Moody’s Analytics, Americans are spending $709 more per month on ordinary goods and services compared to two years ago. However, amidst rising costs,
According to Redfin, the typical homebuyer’s monthly mortgage payment is up 19% compared to a year ago. Housing payments remain historically high because mortgage rates
Oil prices have surged to the highest levels in months after Saudi Arabia announced that it would extend its production cuts for another month. Oil prices
On Tuesday Wall Street dropped as financial stocks fell following Moody’s overnight credit rating cuts on several U.S. banks and warned it could also downgrade
On Sunday Yellow trucking company announced it filed for Chapter 11 bankruptcy after receiving over $700 million in COVID-19 program loans from the federal government.
Former Home Depot CEO Bob Nardelli thinks that Biden is overconfident about the health of the U.S. economy saying, “I’ve been at this for 52
According to the minutes from the June Federal Open Market Committee (FOMC) policy meeting, Federal Reserve officials agree that more rate hikes are ahead but
The Teamsters Union said early Wednesday morning that UPS “walked away from the bargaining table” after presenting an “unacceptable offer.” Teamsters General President Sean M.
On Monday U.S. Treasury Secretary Janet Yellen met with China’s ambassador amid the ongoing chip war between the U.S. and China as new restrictions on
The Federal Deposit Insurance Corporation (FDIC) said it mistakenly released an unredacted document showing the biggest Silicon Valley Bank (SVB) customers who were bailed out
The Department of Energy (DOE) approved a $9.2 billion loan for Ford and its battery manufacturing partner to build three electric vehicle battery plants in
O’Keefe Media Group (OMG) released a new exposé on Tuesday in which BlackRock Recruiter Serge Varlay declared, “Ukraine is good for business.” Varlay told the
Executives at U.S. companies have cut their mentions of ESG (environmental, social, and governance) and DEI (diversity, equity, and inclusion) on earnings calls by 31%
The U.S. Labor Department said in its monthly payroll report that 339,000 jobs were added to the U.S. economy in May, beating the forecasted 190,000
The U.S. House of Representatives passed the Fiscal Responsibility Act in a bipartisan vote of 314 to 117 on Wednesday temporarily suspending the nation’s debt
Despite Republican opposition, a bipartisan bill to raise the federal debt ceiling to $31.4 trillion advanced by a narrow margin through the House Rules Committee
Across the board it appears that House Republicans are in support of McCarthy’s proposed debt bill ahead of this week’s expected vote. Reps. Jim Jordan
Treasury Secretary Janet Yellen, in a second letter with an alarmist tone to House Speaker Kevin McCarthy and other congressional leaders, reiterated her confidence
Debt ceiling negotiations are still under way as a possible default inches closer to the estimated deadline of June 1. Biden hopes the debt ceiling
On Friday House Speaker Kevin McCarthy said it’s time to “pause” negotiations on the debt limit; there are “real differences,” said a White House official.
During debt ceiling negotiations on Tuesday, President Joe Biden rejected any changes to the Inflation Reduction Act. The White House is considering a cap on future
After Tuesday’s debt ceiling summit at the White House, President Biden said the meeting was “productive.” He said, “I made it clear during our meeting
President Joe Biden and House Speaker Kevin McCarthy (R-CA) will face off at a 4 p.m. Eastern time (2000 GMT) Oval Office session today on
As Republicans and the White House cannot agree on raising the debt ceiling, talks of invoking the 14th Amendment have been presented. This would allow
Pacific Western Bank confirmed on Thursday that it is reviewing “strategic options” and has been approached by potential investors. California-based PacWest Bancorp holding company, owner
On Wednesday the Federal Reserve, in a unanimous decision, increased interest rates by a quarter of a point putting the benchmark federal funds rate at
On Wednesday Bloomberg reported that PacWest Bancorp is considering a sale or other options. The California-based bank has not begun an official process for auction,
Managing director of the International Monetary Fund (IMF) Kristalina Georgieva warns against a widespread adoption of central bank digital currencies (CBDC) without considering potential risk
White House Press Secretary Karine Jean-Pierre has clarified that President Biden will not negotiate on the debt ceiling during a scheduled May 9 meeting with
On Monday new mortgage rules under the Biden administration went into effect which could increase fees for borrowers with good credit scores to offset costs
President Biden is set to meet with Congressional leaders on May 9 to discuss how the U.S. will avoid running out of money after Treasury
