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☆ Elon Musk curses out advertisers who left X over antisemitic content
▼ + stars: | 2023-11-29 | by ( Sheila Dang | ) www.reuters.com time to read: +4 min

REUTERS/Gonzalo Fuentes/File Photo Acquire Licensing RightsNov 29 (Reuters) - (Please note strong language in paragraphs 1 and 6)Billionaire Elon Musk told advertisers that have fled his social media platform X over antisemitic content to "Go fuck yourself" in a fiery Wednesday interview. Musk said repeatedly he was sorry for publishing a tweet on Nov. 15 that agreed with an anti-Jewish post. Musk in his post said the user, who referenced the "Great Replacement" conspiracy theory, was speaking "the actual truth." Musk's post drew condemnation from the White House for what it called an "abhorrent promotion of antisemitic and racist hate." Musk in Israel said he is against antisemitism and anything that "promotes hate and conflict" and stated that X would not promote hate speech.

Persons: Elon Musk, Porte, Gonzalo Fuentes, Billionaire Elon Musk, Musk, bristled, Bob, Robert Iger, Walt Disney, Iger, Musk's, Chuck Schumer, Schumer, Benjamin Netanyahu, Netanyahu, Joe Biden, Donald Trump, Sheila Dang, David Gaffen, Lisa Shumaker Organizations: SpaceX, Tesla, Twitter, Viva Technology, Porte de, REUTERS, Billionaire, New York Times, Walt, U.S, White House, Warner Bros Discovery, Comcast, Media, Israeli, Thomson Locations: Paris, France, Israel, U.S, Dallas

Brokerage TD Cowen lowered its U.S. holiday spending estimate to 2% to 3% growth, from 4% to 5%, as it forecast flat Black Friday traffic. With many consumers squeezed by persistent inflation and high interest rates, U.S. holiday spending is expected to rise at the slowest pace in five years. A record 130.7 million people are expected to shop in stores and online in the U.S. on Black Friday this year, the National Retail Federation (NRF) estimates. In France, Italy, and Spain, most shoppers planned to buy clothing on Black Friday, with electronic goods coming second, according to a PwC survey. Thanksgiving Day discounts online peaked at about 28% for toys, while electronics had discounts as steep as 27%, Adobe said.

Persons: Shannon Stapleton, Cowen, Theresa Forsberg, “ It’s, ”, Jill Lizzo, she’s, “, I’m, Lizzo, PwC, hasn’t, Naomi Ojomo, Jeff Gennette, Barbie, John Roberts, Apple AirPods, Bergdorf Goodman, Nordstrom, Oscar de, Katherine Masters, Arriana McLymore, Helen Reid, Mimosa Spencer, Corina Pons, James Davey, Siddharth Cavale, Arriana, Deboarh Sophia, David Gaffen, Miral Fahmy, Nick Zieminski, Frances Kerry Organizations: Black, REUTERS, Shoppers, National Retail Federation, Insider Intelligence, Barclays, Macy's, Adobe Analytics, Adobe, Walmart, Argos, PlayStation, Apple, Thomson Locations: Westbury , New York, U.S, RALEIGH, N.C, New Milford , Connecticut, . U.S, Harlem, Manhattan, France, Italy, Spain, Zara, Canary Wharf, London, British, Paris, Madrid, New York, Raleigh , North Carolina, Bengaluru

☆ New York City investment chief calls on Tesla to sanction Musk unless he apologizes
▼ + stars: | 2023-11-21 | by ( Ross Kerber | ) www.reuters.com time to read: +5 min

Lander's remarks make him the latest Tesla shareholder to call on the EV maker to rein in Musk. Musk endorsed an antisemitic post on social media platform X, formerly known as Twitter, on Nov. 15. It remains unclear whether Tesla's board will take any action. If Musk fails to do so, Tesla's board should consider actions such as docking his pay, suspending him or terminating him, Lander added. He wrote to Tesla board chair Robyn Denholm on Monday that failing to take action would show Tesla's code of business ethics to be "toothless."

Persons: Tesla, Elon Musk, Rishi Sunak, Kirsty Wigglesworth, Brad Lander, Lander, Lander's, Ross Gerber, Musk, Linda Yaccarino, Robyn Denholm, Henry Ford, Nazism, Kristin Hull, Nia, Tesla's, Ross Kerber, David Gaffen, Sheila Dang, Greg Roumeliotis, Matthew Lewis Organizations: British, New York, Reuters, Nia Impact, Gerber Kawasaki Wealth & Investment Management, U.S . Securities, Exchange Commission, SpaceX, Boring Company, Ford Foundation, White, Media, America, Defamation League, Thomson Locations: London, Britain, New, New York City, New York, Dallas

Analysts attended earnings calls in the third quarter armed with questions for healthcare and consumer companies about the potential effect on their sales from the growing popularity of these drugs, known as GLP-1 agonists. A Reuters analysis of earnings transcripts for the third quarter showed "GLP-1" or alternatives like "obesity" or "weight-loss medications" were mentioned 256 times across 29 U.S. and European healthcare and consumer companies. That's more than double the mentions for the second quarter, when those phrases came up 127 times. While some consumer companies have talked about factors such as fewer calories being consumed, "these kind of large extrapolations" seem to be a bit of a stretch, said BMO Capital analyst Evan Seigerman. For big pharma manufacturers like Pfizer (PFE.N) and Amgen (AMGN.O), analyst questions were aimed at their obesity drug candidates.

Persons: Lilly, George Frey, Jeff Jonas, it's, Eli Lilly's, John Furner, Mondelez, Eli Lilly, Evan Seigerman, LVMH, Rajesh Kumar, Jonas, Bhanvi Satija, Savyata Mishra, Arpan Varghese, David Gaffen, Shounak Organizations: Novo Nordisk, Pharmacy, REUTERS, Gabelli, Novo, Walmart, Walmart U.S, Hershey, Truist Securities, Krispy, BMO Capital, Danish, pharma, Pfizer, Devices, HSBC, Thomson Locations: Provo , Utah, U.S, United States, Novo, Bengaluru

☆ Elon Musk, under fire, threatens lawsuit against media watchdog
▼ + stars: | 2023-11-18 | by ( Companies Need To Integrate Climate Reporting Across Functions To Comply With California S New Law | Henry Engler | October | ) www.reuters.com time to read: +3 min

Leon Neal/Pool via REUTERS/File Photo Acquire Licensing RightsNov 18 (Reuters) - Elon Musk threatened on Saturday to sue media watchdog Media Matters and those who attacked his social media platform X, following moves by several large U.S. companies to halt advertising on the site after being promoted alongside antisemitic content. Liberal watchdog group Media Matters for America said earlier this week that it found ads from IBM, Apple and others were placed alongside content promoting Adolf Hitler and the Nazi Party. "This week Media Matters for America posted a story that completely misrepresented the real experience on X, in another attempt to undermine freedom of speech and mislead advertisers," a statement posted by Musk said. He accused Media Matters of creating an alternative account designed to "misinform advertisers" about their posts. Media Matters did not immediately respond to an emailed request seeking comment outside of business hours.

Persons: Tesla, Elon Musk, Leon Neal, Adolf Hitler, Musk, Axios, Musk's, Mrinmay Dey, David Gaffen, Tomasz Janowski, Kirsten Donovan, Daniel Wallis Organizations: SpaceX's, Bletchley, Media, Liberal, America, IBM, Apple, Nazi Party, X Corp, Disney, Warner Bros Discovery, Comcast, Lions Gate Entertainment, Paramount Global, Defamation League, ADL, Hamas, Thomson Locations: Bletchley, Britain, United States, Israel, Palestinian, Bengaluru

☆ IBM suspends ads on X after corporate ads appeared next to pro-Nazi content
▼ + stars: | 2023-11-16 | by ( ) www.reuters.com time to read: +3 min

The logo for social media platform X, following the rebranding of Twitter, is seen covering the old logo in this illustration taken, July 24, 2023. Media watchdog Media Matters said it found that corporate advertisements by IBM, Apple (AAPL.O), Oracle (ORCL.N) and Comcast's (CMCSA.O) Xfinity were being placed alongside antisemitic content. "IBM has zero tolerance for hate speech and discrimination and we have immediately suspended all advertising on X while we investigate this entirely unacceptable situation," IBM said in a statement. Musk's Wednesday comments on the social media platform are not the first time he has engaged in discussions that reference antisemitic tropes or conspiracy theories. "When it comes to this platform - X has also been extremely clear about our efforts to combat antisemitism and discrimination.

Persons: Dado Ruvic, Adolf Hitler, Musk, Xfinity, X, Linda Yaccarino, Jonathan Greenblatt, Yuvraj Malik, David Gaffen, Lisa Shumaker Organizations: Twitter, REUTERS, IBM, Elon, Nazi Party, Media, Apple, Oracle, Defamation League, ADL, Reuters, U.S, X, Hamas, Thomson Locations: America, United States, Israel, Palestinian, Bengaluru, New York

The GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, U.S., March 16, 2021. The GM workers will return to work after an official announcement of the deal, two sources said. Ford shares fell 2% while Stellantis shares were down 1.5% in Milan. Excluding Monday's share moves, GM and Ford shares have lost roughly a fifth of their value since the strike began while Stellantis shares have fallen 1%. "The Street is glad to have this UAW nightmare in the rear view mirror with a less onerous deal than originally feared for the Detroit Big 3," Wedbush analyst Daniel Ives said.

Persons: Rebecca Cook, Stellantis, Patrick Anderson, Shawn Fain, Fain, Joe Biden, Biden, Tesla, Ford, Erik Gordon, Daniel Ives, David Shepardson, Joseph White, Shivansh Tiwary, Deepa Babington, David Gaffen, Peter Henderson, Alistair Bell Organizations: General Motors, REUTERS, Detroit, United Auto Workers, UAW, Reuters, Detroit Three automakers, Ford Motor, Chrysler, Anderson Economic Group, GM, Ford, Democratic, Detroit Three, Detroit automakers, EV, Toyota, University of Michigan, Kentucky, Detroit Big, Thomson Locations: Detroit , Michigan, U.S, Detroit, Milan, Arlington , Texas, Tahoe, Sterling Heights , Michigan, Hill, Tenn, Washington

Such forecasts have prompted a sell-off in a wide range of companies from makers of bariatric surgery devices to companies whose products address the health issues created by excess weight, from diabetes to sleep apnea. "The market is in a shoot-first, ask-questions-later mood when it comes to weight-loss drugs," said Nicholas Anderson, manager of the Thornburg International Growth Fund, which holds shares of Novo Nordisk. By contrast, the iShares U.S. Medical Devices exchange-traded fund has lost more than 22% in the last three months. Injectable weight-loss drugs, known as GLP-1 receptor agonists, are considered highly effective but are also expensive, costing more than $1,300 per month. "Overall, we'll see an increased interest in bariatric surgery, but that will get delayed in the short term."

Persons: Doctor Thomas Horbach, Wegovy, Nicholas Anderson, Eli Lilly, Kenneth Stein, Margaret Kaczor Andrew, William Blair, Michael Farrell, Jeff Jonas, Johnson, Myriam Curet, Ann Hynes, Hynes, David Gaffen, Manas, Michael Erman, Caroline Humer, Sonali Paul Organizations: Novo Nordisk, Healthcare, Growth Fund, Medical Devices, Boston, Gabelli Funds, Johnson, Reuters, Mizuho Securities, Manas Mishra, Thomson Locations: Germany, Munich, Danish, U.S, Boston, GLP, New York, Bengaluru

Oct 26 (Reuters) - Ford (F.N) autoworkers were set to head back to work after the United Auto Workers (UAW) union reached a tentative labor deal with the company late Wednesday. Ford was the first of Detroit's Big Three car manufacturers to negotiate a settlement to strikes joined by 45,000 workers since mid-September. The UAW will now turn its attention to talks with General Motors (GM.N) and Chrysler parent Stellantis (STLAM.MI). The UAW told Ford workers now on strike to return to their jobs during the ratification process. That means production of Ford Super Duty pickups, Ford Bronco and Explorer SUVs and Ranger trucks could restart this week.

Persons: Ford, Harley Shaiken, Shawn Fain, Jim Farley, David Shepardson, Joseph White, Abhirup Roy, David Gaffen, Mark Porter Organizations: United Auto Workers, UAW, General Motors, Chrysler, Ford, University of California, GM, Ford Bronco, Thomson Locations: University of California Berkeley, Washington, Detroit

Expectations for persistently higher interest rates has led companies to alter plans as they eye 2024 warily. "EV demand next year could be lower than expectations," Lee Chang-sil, chief financial officer at South Korean battery maker LG Energy Solution (373220.KS) said on Wednesday, due to global economic uncertainty. GM on Tuesday said it would focus near-term EV efforts on meeting demand rather than hitting specific volume targets. If interest rates remain high or if they go even higher, it's that much harder for people to buy the car." Like many other industrial firms, carmakers hedge against commodity price swings, and with EV demand slowing, raw material prices have softened, including those used heavily in batteries.

Persons: Tesla, Aly, Lee Chang, Mary Barra, Elon Musk, Nidec, China's CATL, Ben Klayman, David Gaffen, Eric Onstad, Jonathan Oatis Organizations: REUTERS, Honda, EV, sil, South, LG Energy, General Motors, GM, Investors, Tech, Cox Automotive, European Union, Volkswagen, Fastmarkets, CME, U.S, Ford, EVs, Victoria Waldersee, Thomson Locations: Tesla China, Shanghai, China, KS, United States, Mexico, Detroit, New York, London, Berlin

☆ Rolling Stones Kick off Album Launch in New York With Guest Lady Gaga
▼ + stars: | 2023-10-20 | by ( Oct. | At A.M. | ) www.usnews.com time to read: +2 min

By David GaffenNEW YORK (Reuters) - It was a gas, gas, gas in a club on Manhattan's West Side late on Thursday, where the Rolling Stones held a private launch party for their first new album in 18 years. The Stones closed with an appearance by Lady Gaga for "Sweet Sounds of Heaven," a slow, blues-infused number off the new album that recalls the band's 70s classic "Moonlight Mile." Gaga and Jagger mimicked each other's dance movies as they alternated vocals, Gaga in a shimmering red-and-black one-sleeved jumpsuit, Jagger wearing a customarily tight black shirt. The latter has been a member of the band for nearly 50 years despite joining in 1975, 13 years after the Stones were formed. The album closes with the song "Rolling Stone Blues," a Muddy Waters song that was the origin of the band's name.

Persons: David Gaffen, Mick Jagger, Jumpin, Jack Flash, Lady Gaga, Gaga, Jagger, Charlie Watts, Keith Richards, Ron Wood, Stevie Wonder, Paul McCartney, Elton John, Bill Wyman, Watts, Lincoln Organizations: Racket, Stone Locations: York, New York

☆ Rolling Stones kick off album launch in New York with guest Lady Gaga
▼ + stars: | 2023-10-20 | by ( David Gaffen | Thomson Reuters | David Gaffen Has Been With Reuters Since As Of He Serves As The Breaking News Editor For Companies News | ) www.reuters.com time to read: +2 min

[1/4] The members of the Rolling Stones Mick Jagger, Keith Richards and Ronnie Wood perform during a private record release party of their new album "Hackney Diamonds" in New York City, U.S., October 19, 2023. REUTERS/Shannon Stapleton Acquire Licensing RightsNEW YORK, Oct 20 (Reuters) - It was a gas, gas, gas in a club on Manhattan's West Side late on Thursday, where the Rolling Stones held a private launch party for their first new album in 18 years. The Stones closed with an appearance by Lady Gaga for "Sweet Sounds of Heaven," a slow, blues-infused number off the new album that recalls the band's 70s classic "Moonlight Mile." Gaga and Jagger mimicked each other's dance movies as they alternated vocals, Gaga in a shimmering red-and-black one-sleeved jumpsuit, Jagger wearing a customarily tight black shirt. The album closes with the song "Rolling Stone Blues," a Muddy Waters song that was the origin of the band's name.

Persons: Mick Jagger, Keith Richards, Ronnie Wood, Shannon Stapleton, Jumpin, Jack Flash, Lady Gaga, Gaga, Jagger, Charlie Watts, Ron Wood, Stevie Wonder, Paul McCartney, Elton John, Bill Wyman, Watts, David Gaffen, Lincoln Organizations: REUTERS, Racket, Stone, Thomson Locations: New York City, U.S, York, New York

[1/4] A United Auto Workers (UAW) union member wears a pin while picketing outside Ford's Kentucky truck plant after going on strike in Louisville, Kentucky, U.S. October 12, 2023. It is in discussions with GM about the parameters of a deal to include battery plant workers under a master labor agreement. Analysts at Wells Fargo estimated that Ford will lose about $150 million per week in core profit from the Kentucky plant strike. Some analysts said the decision to shut down Kentucky Truck and other high-profit Detroit Three operations is a sign that the endgame could be starting in the labor dispute. The tens of thousands of Ford workers with no retirement security."

Persons: Luke Sharrett, Shawn Fain, “ We’re, ”, Fain, We're, Ford, Jim Farley's, Farley, ” Ford, Arthur Wheaton, Stellantis, Kumar Galhotra, who's, Todd Dunn, who've, Dunn, Galhotra, David Shepardson, Joseph White, Abhirup Roy, Pushkala Aripaka, Shivansh, Amna, David Gaffen, Jamie Freed, Ben Klayman, Matthew Lewis Organizations: United Auto Workers, UAW, REUTERS, Rights, Detroit Three, Ford, Kentucky, General Motors, Chrysler, Detroit automakers, GM, Detroit, Cornell University, Reuters, Ford Bronco, EV, Thomson Locations: Ford's Kentucky, Louisville , Kentucky, U.S, F.N, Kentucky, Wells, Milan, Louisville, Ford's Michigan, Washington, Detroit, San Francisco, Bengaluru

"I just want to say how deeply saddened that we all are about the recent horrific attacks on Israel ... He warned that the war in Ukraine, compounded by the attacks on Israel, could have "far-reaching impacts on energy and food markets, global trade, and geopolitical relationships." On Friday, Citigroup CEO Jane Fraser included Israel in her opening remarks on the bank's earnings call. "Once someone ventures into the space of, 'who is the perpetrator and who is the victim,' you enter into the exposure of social media disinformation and risk," Kotok said. Some large companies including Apple (AAPL.O) and Walmart (WMT.N) had yet to issue statements, while some prominent personalities including NBA star LeBron James have spoken out.

Persons: JPMorgan Chase, Jamie Dimon, Albert Bourla, Jefferies, Michael Bloomberg, Goldman Sachs, Jane Fraser, Israel, Fraser, Larry Fink, David Kotok, Cumberland, Kotok, Antonio Neri, Andy Jassy, Sundar Pichai, Satya Nadella, LeBron James, Gigi Hadid, Lananh Nguyen, Aditya Soni, Stephen Nellis, Siddharth Cavale, David Gaffen, Arriana, Sayantani Ghosh, David Gregorio Our Organizations: JPMorgan, Pfizer, UBS, New York City, Bloomberg, Delta Air Lines, Citigroup, BlackRock, Cumberland Advisors, Hewlett Packard Enterprise, Amazon, Meta, Union, Google, Microsoft, Apple, Walmart, NBA, Thomson Locations: Israel, Ukraine, New York, Florida, Bengaluru

"Our strike is working, but we’re not there yet," UAW President Shawn Fain said in a livestreamed update on negotiations with the three automakers. Threatening to strike against GM's Arlington, Texas, plant that makes cash-cow SUVs like the Cadillac Escalade spurred GM to agree that EV battery factories would become union plants with UAW contracts, Fain said. GM is building three Ultium joint-venture battery plants with South Korea's LG Energy Solution (373220.KS). GM is building a fourth U.S. battery plant with Samsung SDI (006400.KS) in Indiana. Fain also said on Friday that the UAW could still strike against highly profitable pickup truck plants if progress stalls.

Persons: Rebecca Cook, General Motors, we’re, Shawn Fain, GM's, Fain, Sam Fiorani, Ultium, Harley Shaiken, Jim Farley, Ford, Stellantis, Mark Stewart, Tesla, Elon, we've, walkouts, Joe White, David Shepardson, Abhirup Roy, Dan Burns, Ben Klayman, Abhijith, David Gaffen, Peter Henderson, Nick Zieminski, Matthew Lewis Organizations: United Auto Workers, General Motors Lansing Delta, Michigan U.S, REUTERS, Detroit Three, UAW GM, UAW, GM, Ford, Detroit, General, Ford Motor, Chrysler, EV, AutoForecast Solutions, Korea's LG Energy, Democratic U.S, Samsung SDI, University of California, LG, Samsung, American, Reuters Graphics Reuters, Thomson Locations: Delta Township, Michigan, DETROIT, GM's Arlington , Texas, U.S, Ohio, Indiana, Berkeley, Milan, Detroit, Washington

☆ Hospitality workers, Las Vegas casinos in crunch time for labor talks
▼ + stars: | 2023-10-03 | by ( Doyinsola Oladipo | ) www.reuters.com time to read: +3 min

[1/2] A press conference as members of the Culinary Workers Union Local 226 ahead of 2020 presidential election in Las Vegas, Nevada, U.S., February 13, 2020. Workers are negotiating for a new five-year contract to boost wages and benefits as tourism in Las Vegas recovers from depressed visitor levels during the pandemic. The Las Vegas unions are among the most powerful in the United States, covering workers that wait tables, clean hotel rooms and prepare food. Over 3.3 million people visited Las Vegas in August 2023, a 7% decrease from levels during the same period in 2019 before the pandemic, according to data from the Las Vegas Convention and Visitors Authority. About 95% of hospitality workers voted on Sept. 26 to authorize a strike across 22 properties on the Las Vegas Strip.

Persons: Eric Thayer, Ted Pappageorge, Wynn, Pappageorge, they’d, Barry Jonas, Jonas, Doyinsola Oladipo, David Gaffen, Aurora Ellis Organizations: Culinary Workers Union Local, REUTERS, Vegas, MGM Resorts International, Caesars Entertainment, Wynn Resorts, Workers, Las, Las Vegas Convention, Visitors Authority, MGM Resorts, Caesars, housekeepers, MGM, Wynn, Thomson Locations: Las Vegas , Nevada, U.S, Las Vegas, United States, New York

Biden is running for re-election in 2024 and will likely face Trump, who is the frontrunner for the Republican presidential nomination. "The only reason Biden is going to Michigan on Tuesday is because President Trump announced he is going on Wednesday," the Trump campaign said in a statement late on Friday. Trump has called for rank-and-file union workers to ignore their leaders. United Auto Workers President Shawn Fain blasted Trump earlier in the week, saying the union was "fighting the billionaire class and an economy that enriches people like Donald Trump at the expense of workers." Workers on the picket lines had mixed feelings over whether Biden should visit.

Persons: Joe Biden, Jonathan Ernst, Biden, Donald Trump, I’ll, Trump, Jeremi Suri, Jimmy Carter, Biden's, CLASS, Shawn Fain, Theodore Roosevelt, Suri, Roosevelt, Henry Cabot, “, Laura Zielinski, ” Thomas Morris, Morris, Heather Timmons, Jeff Mason, Ben Klayman, David Gaffen, Kanishka Singh, Jarrett Renshaw, Matthew Lewis, Nick Zieminski, Alistair Bell, Timothy Gardner Organizations: Motors, REUTERS, WASHINGTON, United Auto Workers, Detroit, UAW, Republican, Friday, General Motors, Chrysler, Ford Motor, University of Texas, Washington, CLASS Trump, White House, Department of Labor, Workers, Thomson Locations: Detroit , Michigan, U.S, TOLEDO , Ohio, Michigan, United States, Austin, Detroit, Toledo , Ohio, Toledo, Philadelphia, Washington, New York

☆ Biden visit to UAW strike would be historic move by US president
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +4 min

The UAW on Friday invited Biden to visit workers on its picket lines, and said that it would expand its Detroit strike to parts distribution centers across the United States at General Motors (GM.N) and Chrysler parent Stellantis (STLAM.MI). "It’s very rare for a president to visit strikers," said Jeremi Suri, a historian and presidential scholar at the University of Texas at Austin. The White House said the president appreciates the UAW invitation, saying Biden will continue to fight for workers, but but did not immediately commit to visiting the strikers. Biden said the automakers should "go further to ensure record corporate profits mean record contracts for the UAW," echoing sentiments by union leaders. Workers on the picket lines had mixed feelings over whether Biden should visit.

Persons: Joe Biden, Jonathan Ernst, Biden, Jeremi Suri, Jimmy Carter, Biden's, Donald Trump, Trump, Shawn Fain, Theodore Roosevelt, Suri, Roosevelt, Henry Cabot Lodge, “, Laura Zielinski, Heather Timmons, Ben Klayman, David Gaffen, Matthew Lewis, Nick Zieminski Organizations: Motors, REUTERS, WASHINGTON, United Auto Workers, UAW, Friday, Detroit, General Motors, Chrysler, Ford Motor, University of Texas, Washington, Trump, White House, Massachusetts, Department of Labor, Workers, Thomson Locations: Detroit , Michigan, U.S, TOLEDO , Ohio, United States, Austin, Detroit, Toledo , Ohio, Toledo, Washington, New York

WASHINGTON, Sept 20 (Reuters) - When the CEO gets a 40% raise, what do the workers deserve? UAW President Shawn Fain initially asked for a 40% increase in worker's pay over the next four years - a figure based off an approximately 40% increase in CEO pay at the companies over the last four years at a time of stable profits for two of the three automakers. CEO pay and benefits have skyrocketed in recent decades, but worker pay has not kept pace. As the strikes began last week, Biden echoed Fain, saying automakers should offer more of the share of their profits to workers. Attempts to address rising CEO pay in decades past have not had the intended effect, said Rosanna Landis Weaver, director of wage justice and CEO pay at As You Sow, a non-profit shareholder advocacy group.

Persons: Shawn Fain, Joe Biden's, Biden, Fain, Rosanna Landis Weaver, Heather Timmons, David Gaffen, Jamie Freed Organizations: United Auto Workers, Ford, General Motors, Chrysler, UAW, U.S, Economic, Reuters Graphics Reuters, Big Three, Thomson Locations: Ohio, Michigan, U.S

The nearly week-old United Auto Workers strike against Ford (F.N), General Motors (GM.N) and Stellantis (STLAM.MI) is viewed as a signal of the strength of the U.S. labor movement that has garnered national support from Americans. The UAW members from two striking plants gathered in Toledo were rolling out for the one-hour, 45-mile (72 km) drive to Wayne, Michigan, where Ford workers also walked off the job last week. In Michigan, Ohio and Missouri, the three states where workers are currently striking, models made by the Big Three dominate the leaderboard of new auto registrations. The United States is still the second-largest car market in the world, trailing only China. Union membership has fallen steadily over several decades in the United States.

Persons: Esperanza Ledesma, I'm, Ledesma, Roxanne Stadtfeld, Stadtfeld, Randi Weingarten, Liz Shuler, Weingarten, Brandon Cappelletty, Cappelletty, Ben Klayman, Joe White, David Gaffen, Jamie Freed Organizations: Fords, United Auto Workers, Ford, General Motors, UAW, GM, Big, P Global, Union, American Federation of Teachers, AFL, Thomson Locations: TOLEDO , Ohio, Toledo, Stellantis's, Ohio, Michigan, Wayne , Michigan, Monroe , Michigan, Lake Erie, Michigan , Ohio, Missouri, United States, China, U.S, Toledo , Ohio, Detroit

The UAW says it will strike against more U.S. plants on Friday if no serious progress was made in talks with automakers. The UAW launched a strike against Ford (F.N), General Motors (GM.N) and Chrysler parent Stellantis (STLAM.MI), last week, targeting one U.S. assembly plant at each company. [1/7]Striking United Auto Workers members Laura Zielinski and Aisha Cochra hold their strike signs outside the Stellantis Jeep plant in Toledo, Ohio, U.S. September 19, 2023. The strikes have halted production at plants in Michigan, Ohio and Missouri that produce the Ford Bronco, Jeep Wrangler and Chevrolet Colorado, alongside other popular models. Reuters GraphicsReporting by David Shepardson in Washington, Jahnavi Nidumolu in Bengaluru and Ben Klayman in Toledo, Ohio Editing by David Gaffen, Jamie Freed, Matthew Lewis and Deepa BabingtonOur Standards: The Thomson Reuters Trust Principles.

Persons: Laura Zielinski, Stellantis, Ram, ”, Candis Holmes, Aisha Cochra, Rebecca Cook, Holmes, Julie Su, Gene Sperling, Ford, Unifor, David Shepardson, Jahnavi, Ben Klayman, David Gaffen, Jamie Freed, Matthew Lewis, Deepa Babington Organizations: United Auto Workers, Detroit Three, UAW, Ford, General Motors, Chrysler, Workers, GM's, Silverado, REUTERS, Ford Bronco, Chevrolet, Labor, Michigan Bronco, GM, Reuters, Thomson Locations: TOLEDO , Ohio, Michigan, Ohio, Wayne , Michigan, Toledo , Ohio, Toledo, U.S, Ford's Wayne , Michigan, Michigan , Ohio, Missouri, Chevrolet Colorado, Washington, Detroit, Kansas, Canadian, Canada, Kentucky, Dearborn , Michigan, Kansas City , Missouri, Bengaluru, Ben

The truth is we are going to wreck the billionaire economy," said UAW President Shawn Fain. UAW vice president Chuck Browning, who is leading talks with Ford, told a rally of hundreds of UAW workers in downtown Detroit on Friday afternoon that recent talks have made "good progress, but we have far to go." Striking workers said "tier two" employees can make only half the hourly wages of senior UAW workers and get worse benefits. GM said on Thursday the UAW wage and benefits proposals would cost the automaker $100 billion, but did not elaborate. Biden's likely opponent, former president Donald Trump, on Friday criticized the shift to EVs as a job-killer for the UAW.

Persons: Ford, We’re, Shawn Fain, Chuck Browning, Joe Biden, Bruce Baumhower, Rebecca Cook, Arthur Wheaton, Jim Farley, Mary Barra, Bernie Sanders, “, Sofus Nielsen, Biden, Julie Su, Gene Sperling, White, Stellantis, Fain, Biden's, Donald Trump, Joseph White, Kevin Krolicki, David Shepardson, Steve Holland, Mehr Bedi, David Gaffen, Peter Henderson, Matthew Lewis, Chris Reese Organizations: DETROIT, United Auto Workers, General Motors, Ford Motor, Chrysler, Ford Bronco, Chevrolet, UAW, Ford, Detroit, Ford Michigan Assembly Plant, REUTERS, Cornell's School of Industrial, Labor, CBS, Reuters Graphics, Tesla, GM, Thomson Locations: Chevrolet Colorado, Kansas, Detroit, Toledo , Ohio, Wayne , Michigan, Barra, Wayne, Milan, Washington, Bengaluru

RTX said on Monday it would have to pull 600 to 700 of its Pratt & Whitney Geared Turbofan (GTF) engines from Airbus A320neo jets for quality inspections over the next three years. The engine issue was first disclosed in July, but RTX made the extent of the problem clearer on Monday. The announcement caused waves up and down the industry, from component manufacturers like Japan's Kawasaki Heavy Industries to airline carriers like Germany's Lufthansa that rely on the popular Airbus jets. In July, RTX said microscopic contaminants were found in a powdered metal used in high-pressure turbine discs that are part of the GTF engine's core. RTX is one of two manufacturers of engines for the popular narrowbody Airbus A320neo, the other being CFM International, a joint venture between GE (GE.N) and Safran (SAF.PA).

Persons: Benoit Tessier, RTX, Guillaume Faury, Ken Herbert, Japan's IHI, Safran, Valerie Insinna, Rajesh Kumar Singh, Abhijith, Aniruddha Ghosh, Mehr Bedi, David Gaffen, Arun Koyyur Organizations: Raytheon Technologies Corporation, International Paris Air, Le, REUTERS, Aerospace, Airbus, Pratt & Whitney, Washington D.C, Japan's Kawasaki Heavy Industries, Lufthansa, Raytheon, United Technologies, Capital, AIRLINES, HIT Aerospace, London, Melrose Industries, Kawasaki Heavy Industries, Aero, Air New Zealand, Singapore Airlines, Wizz, Airbus A320neo, CFM International, GE, Thomson Locations: Le Bourget, Paris, France, Washington, RTX, New Delhi, Bengaluru

Sino-U.S. friction has worsened in recent years as Washington tries to restrict China's access to key technologies including cutting-edge chip technology, and Beijing looks to reduce its reliance on American tech. A customer talks to sales assistants in an Apple store as Apple Inc's new iPhone 14 models go on sale in Beijing, China, September 16, 2022. "This is textbook Chinese Communist Party behavior - promote PRC (People's Republic of China) national champions in telecommunications, and slowly squeeze Western companies' market access," Gallagher, a Republican, told Reuters. The drop in the technology sector weighed on the three main U.S. stock indexes, particularly the tech-heavy Nasdaq Composite, which closed down 0.9%. IPHONE SLOWDOWNChina has been a bright spot for Apple in an otherwise tough period for iPhone sales.

Persons: chipmaker SMIC, Jake Sullivan, Sullivan, Thomas Peter, Biden, Mike Gallagher, Gallagher, Mark Warner, Rick Meckler, Susannah Streeter, Hargreaves Lansdown, Streeter, Aditya Soni, Jaspreet Singh, Shristi Achar, Diane Bartz, David Gaffen, Shounak Dasgupta, Devika Organizations: Apple, Street, Washington, Huawei, HK, U.S . Commerce Department, National, Air Force, BofA Global Research, Qualcomm, REUTERS, Beijing, Communist Party, People's, Republican, Reuters, U.S, Senate Intelligence Committee, planemaker Boeing, Micron, Broadcom, Texas, Nasdaq, Cherry Lane Investments, Hargreaves, Thomson Locations: Beijing, US, China, U.S, Kirin, People's Republic of China, Bengaluru

☆ Roblox plans PlayStation debut, new world-building AI tools
▼ + stars: | 2023-09-08 | by ( ) www.reuters.com time to read: +2 min

Roblox will also make its app fully available on Meta's (META.O) Quest mixed reality devices this month after rolling out a test version in July. That version was downloaded more than a million times within five days, the company said in a blog post. Meta's similar "metaverse" service Horizon, where users appearing as avatars can gather in virtual spaces, has struggled to gain similar momentum. At its conference, Roblox announced plans to roll out an AI-powered world-building chatbot by the end of the year. Another new Roblox tool due later this year would make it possible for mobile or desktop users to conduct voice calls with Roblox friends appearing as avatars.

Persons: Brendan McDermid, Manuel Bronstein, Bronstein, Meta, Roblox, Mark Zuckerberg, Katie Paul, David Gaffen, Josie Kao Organizations: New York Stock Exchange, REUTERS, Meta, Wall, Reuters, Thomson Locations: New York, U.S

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