City Detroit Financial News

Reuters, this move places him at the heart of the conflict that has created tension between his labour supporters and prominent car manufacturers. As a Democrat, President Joe Biden considers himself a strong advocate for labor unions.

'Making Money' host Charles Payne discusses the impact of the expansion of the UAW strikes.

Commonwealth Financial Network Chief Investment Officer Brad McMillan discusses the impact of the UAW strike on the economy, the Federal Reserve's anticipated rate decision and his outlook on the markets.

New Jersey car dealership owner Tom Maoli says the UAW strike could disrupt the auto supply chain causing a ripple effect throughout the U.S. economy on Cavuto: Coast to Coast.

FOX Business' Grady Trimble speaks with General Motors CEO Mary Barra amid the United Auto Workers' strikes.

Federated Hermes CIO of Equities Stephen Auth joined ‘Mornings with Maria’ to discuss the U.S. economy as high oil prices start to raise concerns about sticky inflation.

ERShares CEO Joel Shulman discusses the current state of the markets and the ongoing UAW strikes.

Auto workers have expanded their strike against major carmakers, walking out of 38 General Motors and Stellantis parts-distribution centers in 20 states

United Auto Workers said on Friday the union will expand its strike against major automakers by walking out of 38 General Motors and Stellantis plants in 20 states.Ford was spared additional strikes because the company has met some of the union's demands during negotiations over the past week, said UAW President Shawn Fain. The union is pointing to the companies' huge recent profits as it seeks wage increases of 36 per cent over four years. The companies have offered a little over half that amount. The UAW has other demands, including a 32-hour work week for 40 hours of pay and a restoration of traditional pension plans for newer workers. The companies say they can't afford to meet the union's demands because they need to invest profits in a costly transition from gas-powered cars to electric vehicles. The UAW's contract with the automakers expired at midnight on September 14, and workers walked out of a Ford assembly plant near Detroit, a GM factory in Wentzville, Missouri, and a Jeep plant run by Stellantis in Toledo, Ohio.

The United Auto Workers union on Friday is set to expand its strike against Detroit automakers, barring any last-minute signs of significant movement in labor-contract negotiations. UAW President Shawn Fain has said he would instruct workers to walk out of more factories unless “serious progress" is made in talks with General Motors, Ford Motor and Jeep-maker Stellantis. About 12,700 factory workers have been on strike for a week at three plants, one for each automaker.

(Reuters) — European shares slipped on Friday and were on track to close a week packed with central banks' decisions sharply lower as investors assessed the prospects that borrowing costs will remain high for some time.

By Hyunjoo Jin

Chicago Bears have rejected rumors of FBI raids on its facilities following the resignation of Defensive Coordinator Alan Williams. Brandon Faber, Vice President of Communications for the Bears has claimed that there has been no raid. The Bears have also shared the personal resignation statement of Williams. In his resignation letter, the defense coordinator said that he was resigning for health and family reasons.

WENTZVILLE, Mo.—The use of temporary factory workers at the Detroit car companies has long rankled the United Auto Workers union, which wants fewer of them and a faster path to full-time status. Automakers say they need the flexibility that temp workers provide, especially as they manage a tricky and costly transition to electric vehicles and confront the ups and downs of factory production. The issue is a key point of debate at the bargaining table as the UAW’s strike against General Motors, Ford Motor and Chrysler’s parent, Stellantis, enters its seventh day.

When former President Donald Trump visits Detroit next week, he’ll be looking to blunt criticisms from a United Auto Workers union leadership that has said a second term for him would be a “disaster” for workers

JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said the Federal Reserve may have to keep increasing its benchmark interest rate in the coming months to combat persistent inflation. 

Ford, GM, and Stellantis last week. They stopped the car factories in Michigan, Ohio, and Missouri where they make cars like the Ford Bronco, Jeep Wrangler, and Chevrolet Colorado. Union representatives and company management continued their discussions on the sixth day of a planned strike.

Jamie Dimon said the Federal Reserve may have to keep increasing its benchmark interest rate in the coming months to combat persistent inflation. The central bank was “a day late and a dollar short” in beginning to raise rates and the rapid increases over the last 18 months were just “catching up,” Dimon said Wednesday at an event hosted by the Detroit Economic Club. Dimon spoke just before the Fed published its decision to leave rates unchanged, though officials signaled that borrowing costs will likely stay higher for longer after one more hike this year. “Odds are higher that they will have to go higher than they are today,” Dimon said. “I’m talking about four months from now, six months from now — that inflation will be at 4% and it won’t be coming down for a whole bunch of reasons.” The central bank has spent much of the last 18 months fighting historic levels of inflation, which has decelerated in recent months.

Detroit carmakers are announcing more layoffs that they blame on fallout from the United Auto Workers strike

(Reuters) — Auto workers at Ford Motor (NYSE:F)'s Canadian facilities will start voting on a tentative three-year deal on Saturday, a spokesperson for the Unifor union said on Wednesday.

Investing.com -- A United Auto Workers strike against the so-called Detroit Three carmakers are heading into their sixth day, with the union warning that it will expand the scope of the labor actions on Friday if no progress is made in talks over pay hikes and compensation.