UAW union seeks minimum 30% pay increase - Bloomberg

UAW president calls for expanded strike; urges 7000 additional workers to join at noon

September 29, 2023 11:20 AM UTC

UAW president Shawn Fain announced Friday morning that at noon today the UAW strike against Detroits biggest automakers will expand, adding an additional 7,000 workers to the walkout.

Fain stated that despite the UAW's willingness to bargain, Ford and GM have declined to make meaningful advancements during the discussions. Nevertheless, Fain clarified that... More

Stellantis (STLA) announces leadership changes

September 28, 2023 2:59 PM UTC

Stellantis (NYSE: STLA) announced Thursday the appointment of Emanuele Cappellano as COO of Stellantis South America, as well as Antonio Filosa to Jeep Brand CEO, replacing Christian Meunier who is taking a break to focus on personal matters.

Stellantis also announced the... More

Britain keeps timeline for 2035 fossil fuel Car phase-out despite delay

September 28, 2023 1:58 PM UTC

Britain revealed Thursday that the country will continue with its previous timetable to eliminating fossil fuel-burning cars by 2035, mitigating the consequences of last week's five-year delay, which now mandates that petrol and diesel vehicles must incorporate hybrid engines.

This announcement means that the policy shift introduced last week by Prime Minister Rishi Sunak's will not generate as much disruption to the industry as manufacturers had... More

UAW Targets 30% Pay Raise In Contract Talks With US Automakers - Bloomberg

September 28, 2023 10:43 AM UTC

(Updated - September 28, 2023 10:46 AM EDT)

The United Auto Workers union wants to emerge from its strike with the three major Detroit automakers with at least a 30% pay raise, according to Bloomberg, citing people familiar with the matter.

The level is lower than the around 40% hike it initially proposed.

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UAW warns of expanded strikes if progress isn't made by Friday

September 28, 2023 8:08 AM UTC

As the United Auto Workers (UAW) union enters its 14th day of striking against the Detroit 3 automakers (GM, Ford, Stellantis), reportd have surfaced that the union may announce extended strikes if progress in negotiations hasnt been made by 10 a.m. on Friday.

The new deadline set by the union follows the UAW's decision to extend its initial strike actions against GM and Stellantis to include 38 more parts and distribution facilities, one week... More

UAW Threatens More Strikes as GM, Stellantis Try to Keep Repair Parts Flowing

September 28, 2023 5:43 AM UTC

UAW Threatens More Strikes as GM, Stellantis Try to Keep Repair Parts Flowing - WSJ

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UAW Has New Round Of Bargaining Set With GM (GM) At 4 p.m.-- Source - Reuters

September 27, 2023 2:06 PM UTC

UAW Has New Round Of Bargaining Set With GM (GM) At 4 p.m.-- Source - Reuters

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UAW could expand strikes at Detroit Three on Friday

September 27, 2023 2:05 PM UTC

By David Shepardson, Joseph White

DETROIT (Reuters) -The United Auto Workers union could strike additional Detroit Three automotive facilities on Friday if there is no serious progress in labor negotiations, a source familiar with the talks said.

The union did not elaborate ahead of a planned video address by UAW President Shawn Fain at 10 a.m. ET (1400 GMT) on Friday. Bargaining continues at Ford, General Motors and Chrysler parent Stellantis.

If Fain triggers walkouts at more plants starting at noon (1600 GMT) on Friday, the UAW is expected to continue work stoppages currently underway until a new... More

UAW Set To Announce New Automaker Strike Targets Friday At 10 a.m. ET Barring Serious Progress In Talks -source - Reuters

September 27, 2023 1:57 PM UTC

(Updated - September 27, 2023 2:04 PM EDT)

UAW Set To Announce New Automaker Strike Targets Friday At 10 a.m. ET Barring Serious Progress In Talks -source - Reuters

UAW President Fain Set to Announce New Strike Targets Friday... More

Stellantis (STLA), GM (GM) Prepared to Use White-Collar Staffers to Keep Parts Moving Amid Strike - WSJ

September 27, 2023 12:37 PM UTC

Stellantis (STLA), GM (GM) Prepared to Use White-Collar Staffers to Keep Parts Moving Amid Strike - WSJ

Stellantis Lined Up Warehouse to Stockpile 2,500 Different Parts As Strike Workaround, Company Document Shows... More

Morgan Stanley observes the UAW strike as Tesla (TSLA) influence 'looms larger that it appears'

September 27, 2023 11:05 AM UTC

Morgan Stanley remains bullish on Tesla (NASDAQ: TSLA) with an Outperform rating and a $400.00 price target on their Top Pick as the UAW continues to strike against the auto industry.

Morgan Stanley sees the UAW strike of 2023 as very similar to the 2019 strike against General Motors (NYSE: GM), but with a significant difference. Last time there was no viable alternative to domestic auto production outside of the Detroit 3 (GM, Ford, Stellantis).

In 2019, when the UAW went on strike for a grueling six weeks, Tesla (NASDAQ:... More

Tesla's (TSLA) Musk: 40% pay raise and 32 hour workweek sure way to drive GM, Ford and Chrysler bankrupt in fast lane

September 26, 2023 2:20 PM UTC

Tesla's (NASDAQ: TSLA) Musk: 40% pay raise and 32 hour workweek sure way to drive GM, Ford and Chrysler bankrupt in fast lane

They want a 40% pay raise *and* a 32 hour workweek. Sure way to drive GM, Ford and Chrysler bankrupt in the fast lane.

Elon Musk (@elonmusk) September 26, 2023

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U.S. futures dip, Moody's flags government shutdown impact - what's moving markets

September 26, 2023 5:41 AM UTC

Investing.com -- Stock futures inch down, hinting a possible reversal from a positive session on Monday, as Wall Street's main indices are on pace to post losses in September. Meanwhile, investors gauge developments in an ongoing budgetary stand-off in Washington, as Moody's (NYSE: MCO) warns that a potential government shutdown caused by the fight will be "negative" for the U.S.'s rating. Elsewhere, President Biden prepares to visit Michigan to show his backing for striking auto workers.

1. Stock futures edge lower

U.S. stock futures moved down... More