Ford Financial News

AP reported that Union President Shawn Fain told workers in a video appearance that the strikes were escalated because Ford and GM refused “to make meaningful progress" in contract talks. Jeep maker Stellantis was spared from the third round of strikes. Also Read: United Auto Workers present new counter-proposal to Chrysler parent Stellantis ahead of planned strike Ford and GM responded strongly as tensions in the verbal dispute with the union escalated further.

Investing.com — The Dow closed lower Friday, ending September and the third quarter with a loss as mounting fears about higher for longer Federal Reserve interest rates and a government shutdown rattled investor sentiment.       

Investing.com — The S&P 500 turned negative Friday, as concerns about the impact of a government shutdown forced stocks to give up gains following data showing easing inflation.  

Canada’s top banking regulator is increasing scrutiny on how the country’s largest financial institutions are managing their commercial real estate portfolios amid rising interest rates that are creating vulnerabilities in the sector.

Investing.com — The United Auto Workers union will expand strikes at plants owned by Ford Motor Company (NYSE:F) and General Motors Company (NYSE:GM) on Friday as the United Auto Workers says not enough progress has been made in labor contract negotiations.

By David Shepardson and Joseph White

The United Auto Workers union is poised to call more walkouts on Friday, as the strike against Detroit’s three automakers enters its third week. UAW President Shawn Fain is expected to disclose new site targets during a livestream to members at 10 a.m. ET.

Former Chrysler CEO Bob Nardelli discusses the ongoing negotiations between the UAW and the Big Three automakers on ‘The Claman Countdown.’

By Aditya Soni

energy storage is essential to enable the renewables growth Prime Minister Narendra Modi has promised, but so far incentives have been lackluster, according to the head of California-based Energy Vault Holdings Inc. The promising renewables market in India could be stifled by the high cost of power storage, which will become an essential component of the transition away from fossil fuels, Robert Piconi, chief executive officer of the company, said in a interview. Renewable electricity available at any time of the day and night “is sort of a holy grail,” Piconi said.

Elon Musk: Traditional automakers like General Motors and Ford could go ‘bankrupt’ if… Speaking about the roadmap of profitability for X, Yaccarino said, "Now that I have immersed myself in the business, and we have a good set of eyes on what is predictable, what's coming is that it looks like in early '24, we will be turning a profit," Prior to the announcement on Thursday, Yaccarino and Musk had earlier stated that the social media company is close to ‘breaking even’. Yaccarino also noted that 90% of the top 100 advertisers have returned to X in the last 12 weeks and the time spent by users on the platform has gone up since June.

Former Chrysler CEO Bob Nardelli discusses the ongoing talks between the UAW and the Big Three automakers on «The Claman Countdown.»

Are high gas prices burning a hole in your wallet

The United Auto Workers union says it will announce on Friday how it plans to expand its strike against Detroit’s three automakers

Elon Musk has cautioned that if the United Auto Workers (UAW) union's demands for higher wages are met, traditional automakers like General Motors, Ford, and Stellantis could “drive GM, Ford and Chrysler bankrupt in the fast lane". The warning from the Tesla CEO comes amid a UAW strike against Detroit's Big Three automakers—GM, Ford, and Stellantis NV, the producers of Jeep, Chrysler, and Dodge vehicles. Patrick Kaser, a portfolio manager for Brandywine Global, also expressed similar concerns last week, suggesting that these companies could suffer significant competitive setbacks.

(Reuters) — U.S. new-vehicle sales are set to rise in September from a year ago, helped by sustained demand, according to Cox Automotive.

Ford says it’s pausing construction of a $3.5 billion electric vehicle battery plant in Michigan until it is confident it can run the factory competitively

Strike threat looms: Ford, GM and Stellantis remain at odds with UAW demands TR Reid, a Ford spokesman while making the announcement said, “We’re pausing work and limiting spending on construction on the Marshall project until we’re confident about our ability to competitively operate the plant…We haven’t made any final decisions about the plant investment there." The proposed plant by Ford near Marshall, Michigan was expected to employ around 2,500 workers and produce enough batteries to power around 400,000 electric vehicles a year. Ford had announced the Michigan plant in February this year as a way to diversify its battery profile from the nickel cobalt manganese (NCM) that are costly to produce owing to raw material scarcity.

Geelong-based lightweight wheel maker Carbon Revolution’s arduous path to a listing on the Nasdaq exchange has been delayed in its final stages after a United States investment fund agreed to inject $US110 million ($171 million) into the group.

William Byron booked his berth in the NASCAR Cup Series playoffs Round of 8 as he won at Texas Motor Speedway on Sunday. When he had six laps to go, Byron went to the bottom of the track, made it three wide in the process, and cleared Bubba Wallace and Ross Chastain. With this victory, car owner Rick Hendrick got his 300th win in the highest level of NASCAR. Byron's Hendrick Motorsports teammate Kyle Larson was leading by over four seconds when J.J. Yeley's car wrecked with 25 laps to go. He and Wallace were forced to stay out of the pits. When it re-started, Larson spun in the lower groove while racing Wallace.

By Shivansh Tiwary and David Shepardson