DIRS.INFO The most relevant business & tech news

☆ For US renters, the chance of owning a home is going from bad to worse
▼ + stars: | 2024-05-08 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +7 min

New York CNN —The American dream of homeownership is looking more like a nightmare. With inflation heating up again, the Federal Reserve is in no position to consider lowering interest rates at its upcoming meetings. That’s according to a New York Fed survey gauging consumers’ expectations of the housing market, released Monday. Consumers are gearing up for even bigger increases compared to the expected rise in mortgage rates over the next year, the New York Fed survey found. The issue of rent affordability is particularly pronounced in New York City, where housing costs have always been notoriously high compared to other parts of the country, absent a brief respite during the pandemic.

Persons: That’s, Kenny Lee, Aditya Bhave, Neel Kashkari, Bhave, ” Bhave, “, Perdue “, ”, Read, TikTok, Joe Biden, Brian Fung, Bytedance Organizations: CNN Business, Bell, New York CNN, Federal, New, Fed, Zillow, Bank of America, CNN, Minneapolis, Bloomberg, United States Department of Labor, Seaboard Triumph Foods, Perdue, Labor Department, Seaboard, Labor, Packers Sanitation Services, Appeals, District of Columbia Circuit Locations: New York, New York City, Fayette, DOL, Sioux City , Iowa, Accomac , Virginia, China

☆ Sanitation Company Fined $649,000 for Hiring Children in Slaughterhouses
▼ + stars: | 2024-05-07 | by ( Livia Albeck-Ripka | ) www.nytimes.com time to read: +1 min

A Tennessee-based sanitation company has been fined more than $649,000 after an investigation revealed that it had illegally employed at least two dozen children at slaughterhouses and meatpacking facilities, the Labor Department said this week. The company, Fayette Janitorial Service L.L.C., was found to have hired the children, some as young as 13, during overnight shifts that involved using corrosive materials to clean “dangerous kill floor equipment” at facilities in Sioux City, Iowa, and Accomac, Va., the department said in a news release. A temporary restraining order in February required the company to stop employing the children, and on Monday, it agreed in federal court to pay the fine, hire a third party to make sure no underage workers are employed in the future and establish a program for reporting violations, according to documents filed in U.S. District Court for the Northern District of Iowa. It is illegal under the Fair Labor Standards Act to hire anyone under 18 for the kind of hazardous work that is often involved in meat and poultry slaughtering, processing, rendering and packing operations. But that has not stopped thousands of migrant children from coming to the United States from Mexico and Central America to work dangerous jobs, in places including meatpacking plants.

Organizations: Labor Department, Northern, Northern District of, Fair Labor, Act Locations: Tennessee, slaughterhouses, Fayette, Sioux City , Iowa, Accomac, Va, U.S, Northern District, Northern District of Iowa, United States, Mexico, Central America

☆ Janitorial company hired minors to clean slaughterhouses, US Labor Dept. says
▼ + stars: | 2024-02-22 | by ( Melissa Alonso | ) edition.cnn.com time to read: +3 min

“Minors were used to clean dangerous kill floor equipment such as head splitters, jaw pullers, meat bandsaws, and neck clippers,” the Labor Department said in a news release Wednesday. CNN has reached out to Fayette Janitorial Services and STF for comment. To fulfill janitorial service contracts, the janitorial company employed at least 24 children between the ages of 13 and 17 to work overnight shifts cleaning dangerous equipment, the complaint says. According to the filing, the janitorial company employed 15 children, as young as 13-years-old, in Virginia and at least nine children in Iowa on its overnight sanitation shifts. On January 10, 2022, Fayette hired one minor “to work the overnight sanitation shift at the Perdue Facility, when he was 13 years old,” said the complaint.

Persons: “, Perdue, ”, Fayette, Seema Nanda, ” Nanda Organizations: CNN, U.S . Labor Department, Labor Department, Labor, Seaboard Triumph Foods, Perdue, “, Perdue Facility, Fair Labor Locations: Tennessee, Fayette, Sioux City , Iowa, Accomac , Virginia, Virginia, Iowa

“Mar-Jac and its affiliates have a long and sordid history of willful disregard for worker safety,” the lawsuit reads. In July, Duvan became the third worker to die in less than three years at the Hattiesburg, Mississippi, plant owned by Mar-Jac, a Georgia-based poultry production company. After Duvan's death, Onin filed a notice with the state to avoid paying worker's compensation,the lawsuit claims. OSHA had issued at least eight citations for safety violations at the plant before Duvan's death, the lawsuit says. After the accident, Labor Department officials said Duvan’s death offered a reminder that children remain vulnerable to exploitation in the U.S. workplace.

Persons: JACKSON, Edilma Perez Ramirez, Mar, Jac, Duvan Perez, “, Duvan, Joel Velasco Toto, Bobby Butler, Perez Ramirez, Onin, Toto, Butler, Seth Hunter, Perez Ramirez's, Chick, ” Hunter, ___ Michael Goldberg Organizations: U.S . Department, Safety, Health Administration, Mar, OSHA, Onin Staffing, Labor, Associated Press, America Statehouse News Initiative, America Locations: Miss, Mississippi, Forest, Guatemala, Hattiesburg , Mississippi, Georgia, Alabama, U.S, @mikergoldberg

☆ Williamsburg, Brooklyn: A Historical Timeline of the NYC Neighborhood
▼ + stars: | 2024-01-29 | by ( ) www.nytimes.com time to read: +1 min

By Steven KurutzA car is moving down Kent Avenue in Williamsburg, Brooklyn. A passenger captures the scene on video — abandoned factory buildings, vacant lots and a crumbling warehouse beneath a wintry light. Twenty-five years later, that same stretch is lined with glassy apartment towers, boutique hotels and a Trader Joe’s. Then Chanel — Chanel! This timeline charts that remarkable evolution in words and images, year by year.

Persons: Steven Kurutz, Chris Cassidy, Hermès, Chanel — Chanel, —, Betty Smith’s Organizations: Sixth Locations: Williamsburg , Brooklyn, Williamsburg, Kent, Brooklyn ”, Europe, Puerto Rican, Dominican

Trading on the world's largest exchange would give JBS, which applied in July, access to more capital and enhance its credibility. Political Cartoons View All 253 ImagesThe dispute highlights the connection between finance and various drivers of climate change, such as deforestation. Two-thirds of Amazon deforestation results from conversion to pasture for livestock, according to the Brazilian government. In 2020, it created the JBS Fund For the Amazon. In the three years since inception, the JBS Fund for The Amazon has provided $15 million to 20 projects, according to its website.

Persons: ”, JBS, Elon Musk, Carlos Nobre, Liège Correia, Andrea Azevedo, “, ” Azevedo, Azevedo, Glenn Hurowitz, it's Organizations: Securities and Exchange Commission, New York Stock Exchange, U.S, Democrats, Republicans, SEC, NYSE, Associated Press, Brazil’s Agencia Publica, JBS S.A, JBS Fund, The, Forest Peoples Connection, Elon, SpaceX, Good Food Institute, United Nations, JBS, AP Locations: BRASILIA, Brazil, United States, United Kingdom, Rondonia, pirarucu, U.S, Dubai, AP.org

☆ Lawmakers are trying to keep meatpacking giant JBS from trading on NYSE, citing links to deforestation
▼ + stars: | 2024-01-18 | by ( Associated Press | ) www.businessinsider.com time to read: +4 min

US and UK lawmakers are rallying against an IPO by the world's largest meatpacker, JBS. Brazil says two-thirds of Amazon deforestation comes from converting land into pastures for livestock. Trading on the world's largest exchange would give JBS access to more capital and enhance its credibility. "The company has made repeated claims that it will eliminate deforestation but has not taken meaningful steps to do so." Two-thirds of Amazon deforestation results from conversion to pasture for livestock, according to the Brazilian government.

Persons: JBS Organizations: Service, Securities and Exchange Commission, New York Stock Exchange, New, U.S, Democrats, Republicans, SEC, NYSE, JBS S.A Locations: Brazil, United States, United Kingdom, New York

☆ Mergers Like JetBlue’s Proposed Acquisition of Spirit Usually Turn Out to Be Bad - The New York Times
▼ + stars: | 2023-12-04 | by ( Tim Wu | ) www.nytimes.com time to read: +2 min

Most of the time, however, mergers that seem bad really are bad. It is in neither the investors’ nor JetBlue’s management’s interests to pick a fight with the big guys. There was a time, back at the turn of the century, when JetBlue was a genuinely innovative airline. In 2014, Wall Street analysts turned on JetBlue and its chief executive at the time, Mr. Barger, accusing the company of being too consumer-focused. Unfortunately for customers, Wall Street won, Mr. Barger was thrown out and JetBlue started charging fees for all sorts of things.

Persons: David Neeleman, David Barger, Barger Organizations: Ticketmaster, Sprint, Mobile, Instagram, Facebook, JetBlue, United, Wall Street, Investors Locations: United States, Delta, United

WASHINGTON, Nov 29 (Reuters) - The U.S. Department of Agriculture said on Tuesday it will extend for up to 90 days a trial program that allows six U.S. pork plants to operate faster processing-line speeds while collecting data on how the speeds affect meatpacking workers. Some activist groups like Food & Water Watch had opposed the program as a risk to food safety. A judge in 2021 invalidated that rule after the United Food and Commercial Workers (UFCW) union, which represents many meatpacking workers, sued the USDA over worker safety concerns. Plants in the trial were also assigned to collect data on how line speeds affect workers and share it with the U.S. Occupational Safety and Health Administration. Reporting by Tom Polansek in Chicago and Leah Douglas in Washington; Editing by Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.

Persons: Tyson, JBS's, UFCW, Tom Polansek, Leah Douglas, Bernadette Baum Organizations: U.S . Department of Agriculture, Tyson, JBS SA, Water Watch, JBS's Swift Pork Company, Companies, United Food, Commercial Workers, U.S . Occupational Safety, Health Administration, U.S . Senate, Thomson Locations: Nebraska, Illinois, U.S, Chicago, Washington

☆ Student Housing to Be 3D-Printed in Europe in 2024: Photos
▼ + stars: | 2023-11-12 | by ( Brittany Chang | ) www.businessinsider.com time to read: +4 min

Construction on a cluster of 36 3D-printed student homes is set to begin in 2024 in Denmark. In 2024, 3DCP Group and design firm SAGA Space Architects say they will build a non-profit student housing community with help from a 3D printer. SAGA Space Architects, 3DCP GroupThe construction lot, presently an unused patch of old trees, is located near VIA University College's Holstebro campus. AdvertisementAdvertisementSAGA Space Architects, 3DCP GroupMost mass-market construction 3D printers only extrude concrete. SAGA Space Architects, 3DCP GroupThe project's developer, housing non-profit NordvestBo, will select future tenants from a pool of applications "assuming there will be a 'first come, first served' aspect," Sebastian Aristotelis, cofounder of SAGA Space Architects, told Insider in an email.

Persons: —, Sebastian Aristotelis, Aristotelis, Philip Lund Organizations: Service, 3DCP, VIA University College's, SAGA, Architects, Nielsen Locations: Denmark, Holstebro

☆ Why strikes are working and which industries could be next
▼ + stars: | 2023-11-11 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +7 min

We asked experts why recent strikes have had success and which industries could be next. AdvertisementAdvertisementIf worker movements pick up in the months and years ahead, it shouldn't be a big surprise. At the same time, an aging US population is expected to increase the demand for healthcare workers. And if the economy remains strong, he said "previously untouchable" corporations like Amazon and Starbucks could see more worker movements and unionization. But in the near term, some labor movements will likely persist even if conditions aren't perfect.

Persons: —, that's, Matthew Johnson, Victor Chen, Johnson, COVID, Caroline Lucas, Dave Young, VCU's Chen, Biden —, Eunice Han, Duke's Johnson, Jake Rosenfeld Organizations: UAW, UPS, Hollywood, Healthcare, Service, Permanente, Workforce, Teamsters, Duke University, Virginia Commonwealth University, Kaiser Permanente, National Council of State, of Nursing, Coalition, Kaiser Permanente Unions, United Food, Commercial Workers, University of Utah, Research, Washington University

☆ Musk says Tesla aims to make 200,000 Cybertrucks a year
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: +1 min

Tesla's Cybertruck is displayed at Manhattan's Meatpacking District in New York City, U.S., May 8, 2021. REUTERS/Jeenah Moon/File Photo Acquire Licensing RightsOct 31 (Reuters) - Tesla (TSLA.O) is aiming to make 200,000 units of its electric pickup truck, Cybertruck, per year, Chief Executive Officer Elon Musk said on Tuesday. The company had earlier said that Tesla had the capacity to make more than 125,000 Cybertrucks annually, with Musk adding there was potential to lift it to 250,000 in 2025. On the "Joe Rogan Experience" podcast released Tuesday, Musk reiterated how hard it was to produce the Cybertruck. "We're aiming to make about 200,000 a year at point production ... maybe a little more, but I just can't emphasize enough that manufacturing is much much harder than the initial design," Musk said about the futuristic-looking Cybertruck.

Persons: Elon Musk, Tesla, Musk, Joe Rogan, Chavi Mehta, Anil D'Silva Organizations: Meatpacking, REUTERS, Thomson Locations: New York City, U.S, Los Angeles, Bengaluru

It would also require the Labor Department to compile a list of companies ineligible for federal contracts based on "serious, repeated, or pervasive violations of child labor laws." The Labor Department said earlier this month that in the 2023 fiscal year, which ended on Sept. 30, 2023, investigations had found close to 5,800 kids illegally employed in the U.S., an 88% increase from 2019. Another bipartisan Senate bill introduced on Thursday by Republican Marco Rubio from Florida, with Democrats Alex Padilla from California and John Hickenlooper from Colorado, and Republican Roger Marshall from Kansas, would require the Labor Department to report more details to lawmakers about the perpetrators and victims involved in child labor cases. A February 2022 Reuters story exposed child labor at Alabama chicken plants, revealing how unaccompanied Central American migrants in debt to human smugglers were working grueling factory shifts. Later, in November, the Labor Department filed a complaint against cleaning company Packers Sanitation Services Inc. (PSSI) for employing dozens of kids cleaning meatpacking plants around the country, some of whom suffered chemical burns and other injuries.

Persons: Cory Booker, Kevin Lamarque, Josh Hawley, Republican Marco Rubio, Alex Padilla, John Hickenlooper, Republican Roger Marshall, Rubio, Dick Durbin, Mica Rosenberg, Joshua Schneyer, Kristina Cooke, Aurora Ellis, Jonathan Oatis Organizations: Capitol, REUTERS, Democratic, Labor Department, U.S . Department of Agriculture, The Labor Department, Republican, Central, Packers Sanitation Services Inc, Hyundai, Kia, Reuters, Democratic Senators, Senate, Thomson Locations: Washington , U.S, United States, U.S, New Jersey, Missouri, Florida, California, Colorado, Kansas, Alabama, Korean, Mexico, Illinois, New York

☆ Beef prices are at record highs — how much pricier will your steak get?
▼ + stars: | 2023-10-25 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +3 min

Retail beef prices in the U.S. are at record highs, pushing up prices of beef-based products from burgers to steaks and steak tartare. Retail beef prices are currently hovering around record levels of about $8 per pound, according to data from the United States Department of Agriculture (USDA). "All consumers will be paying more for all beef products for several more years," Wells Fargo's Chief Agricultural Economist Michael Swanson told CNBC via email. "As cattlemen retain cows to rebuild the herd, there is a much lower supply of cattle to provide beef," Swanson said. With elevated cow slaughter, has come tighter cattle supplies, and an expectation that domestic cattle supplies will remain tight into the future.

Persons: That's, Wells, Michael Swanson, Swanson, Brandon Bell, Brian Earnest, Adam Speck, Speck Organizations: Portland Press Herald, Getty, CNBC, United States Department of Agriculture, USDA, Gro Locations: U.S, Texas, Kansas, Quemado , Texas, Gro Intelligence's

NEW YORK (AP) — Those miracles of modern science, the Rolling Stones, celebrated the release of their first album of original music in 18 years with a Manhattan club gig on Thursday. Mick Jagger alluded to past stunts the Stones had done in New York to tout new music over the years, including performing on a flatbed truck on Fifth Avenue. “Hackney Diamonds,” coming at a time many fans wondered if the Rolling Stones would ever bother again with new music, has been well received by critics, with many noting the crisp energy the band displayed. This time, the bar band was the Rolling Stones. Lady Gaga, dressed in a maroon sequined pantsuit, appeared to recreate her duet — duel, really — with Jagger on the new “Sweet Sounds of Heaven.”“New York, the Rolling Stones!” she said before leaving, after exchanging kisses with Jagger and Richards.

Persons: Christie Brinkley, Elvis Costello, Trevor Noah, Mick Jagger, ” Jagger, “ There's, Charlie Watts, Jagger, Keith Richards, Ron Wood, They're, “, Questlove, Jagger pranced, Richards, Jumpin, Jack Flash, ”, Lady Gaga Organizations: Racket Locations: Manhattan, New York, Manhattan's Meatpacking, ” “ New York

Tesla's Cybertruck is displayed at Manhattan's Meatpacking District in New York City, U.S., May 8, 2021. REUTERS/Jeenah Moon/File Photo Acquire Licensing RightsOct 18 (Reuters) - Tesla (TSLA.O) CEO Elon Musk on Wednesday warned of difficulties in ramping up production of the automaker's much-awaited Cybertruck electric pickup truck and announced that deliveries would begin on Nov. 30. The Cybertruck is expected to challenge Rivian's (RIVN.O) R1T, Ford's (F.N) F-150 Lightning and General Motors' (GM.N) Chevrolet Silverado EV in the hot market for electric pickup trucks. Musk said he wanted "temper expectations" for the truck, adding the company could face "enormous challenges" in ramping up production and making it cash-flow positive. "But I think that they're giving us an indication of the capacity they're going to make available for the Cybertruck as production ramps up."

Persons: Elon Musk, Rivian's, Musk, Tesla, Seth Goldstein, Akash Sriram, Jamie Freed Organizations: Meatpacking, REUTERS, General Motors, Silverado EV, Morningstar, EV, Thomson Locations: New York City, U.S, United States, Texas, Bengaluru

☆ Tyson Foods workers, activists protest child labor in U.S. meat sector
▼ + stars: | 2023-10-17 | by ( ) www.cnbc.com time to read: +2 min

Tyson Foods workers and activists rallied outside the U.S. meat company's headquarters in Arkansas on Monday to protest child labor and push for improved working conditions in processing plants. Dozens of protesters marched near Tyson's offices in Springdale, Arkansas, with signs saying "Stop child labor" and "Let children be children." Tyson, the biggest U.S. meat company by sales, said it respects people's right to protest peacefully and encourages employees to raise concerns with the company. It did not comment on child labor allegations. The company's code of conduct says suppliers are expected to ensure they do not use child labor.

Persons: Biden, exploitation's, Tyson, Magaly, Licolli, Perdue Organizations: Tyson, Biden Administration, Facebook, U.S . Department of Labor, The Labor Department, Perdue Farms Locations: Arkansas, U.S, Tyson's, Springdale , Arkansas, Guatemala, Tennessee

☆ Tyson Foods workers, activists protest child labor in US meat sector
▼ + stars: | 2023-10-16 | by ( Tom Polansek | ) www.reuters.com time to read: +2 min

REUTERS/Arnd Wiegmann/File Photo Acquire Licensing RightsOct 16 (Reuters) - Tyson Foods (TSN.N) workers and activists rallied outside the U.S. meat company's headquarters in Arkansas on Monday to protest the industry's use of child labor and push for improved working conditions in processing plants. Dozens of protesters marched near Tyson's offices in Springdale, Arkansas, with signs saying "Stop child labor" and "Let children be children." Tyson, the biggest U.S. meat company by sales, had no immediate comment on the protest. The company's code of conduct says suppliers are expected to ensure they do not use child labor. Asked about child labor in meat plants on Monday, the Labor Department said its Wage and Hour Division has investigations open at Tyson and Perdue Farms.

Persons: Arnd, Tyson, Biden, exploitation's, Magaly, Licolli, Perdue, Tom Polansek, Rod Nickel Organizations: Tyson Foods, REUTERS, Biden Administration, Facebook, U.S . Department of Labor, Labor Department, Tyson, Perdue Farms, Thomson Locations: Davos, Switzerland, Arkansas, U.S, Tyson's, Springdale , Arkansas, Guatemala, Tennessee

☆ Stocks making the biggest moves midday: Walgreens, Birkenstock, Ford, Spotify and more
▼ + stars: | 2023-10-12 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Check out the companies making headlines in midday trading. Walgreens Boots Alliance — Walgreens Boots Alliance popped 7% in midday trading after sharing that it has made progress in its cost-cutting program. The German shoe brand fell more than 12% in its stock market debut Wednesday. First Solar — The solar stock slipped 1.4%. Fastenal posted third-quarter earnings of 52 cents per share, while analysts polled by FactSet anticipated 50 cents per share.

Persons: Morgan Stanley, it's, Fastenal, FactSet, — CNBC's Brian Evans, Lisa Kailai Han, Hakyung Kim, Samantha Subin, Darla Mercado Organizations: Walgreens, Walgreens Boots Alliance, LSEG, Spotify Technology, Bank of America, Microsoft, RBC, Barclays, Ford, United Auto Workers, Ford's, Revenue, Food, Commercial Workers International Union, Hormel Locations: Ford's Kentucky

☆ Meatpacking Plant Closures Cut Deep for Small-Town Economies
▼ + stars: | 2023-10-08 | by ( Patrick Thomas | Photographs Harlan Bozeman For The Wall Street Journal | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/us-news/meatpacking-plant-closures-hurt-small-town-economies-c6c58503

Persons: Dow Jones

☆ Black UAW workers won progress in America's auto industry. They are on strike for its future
▼ + stars: | 2023-10-07 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +12 min

The percentage of Black workers in the auto industry today is more than double their share of the workforce overall. But the decline in US auto jobs and the erosion of unions have hit Black workers hardest. Black workers are likelier to belong to unions, in any industry, compared to White and Hispanic workers. Black union workers earn on average 16.4% higher wages than non-union Black workers, and they are likelier to have health care and retirement benefits, studies show. Hard-won gains disappearSoon after Black auto workers broke into better paying jobs, the US auto industry began its long decline, decimating Black communities in particular.

Persons: Lynda Jackson’s, Jackson, ” Jackson, ” Lynda Jackson, Lynda S, Emily Elconin, ”, Tiffanie Simmons, Simmons, Steven Pitts, Luke Sharrett, Tesla, “, ” Pitts, Jim Crow, Henry Ford, Nelson Lichtenstein, “ Walter Reuther, Ford, Irving Haberman, Kevin Boyle, Boyle, Philip Randolph, Randolph, Franklin Roosevelt, Walter Reuther, —, James Meredith, Martin Luther King, Jr, Roy Wilkins, Phillip Randolph, Walther Reuther, Martin Luther King Jr, Reuther, ” Boyle, Spencer Platt, Josh Bivens, Biden, Erica Smiley, ” Smiley Organizations: New, New York CNN, Chrysler, Ford, General Motors, United Auto Workers, UAW, Detroit’s, Processing, Bloomberg, Getty, Ford Motor, Economic Policy Institute, UC Berkeley Labor Center ., Tesla, Ku Klux Klan, University of California, America, Northwestern University, Jobs, Walther Reuther . Express, Hulton, Southern Christian Leadership Conference, The League, Revolutionary Black Workers, Black, Economic, Institute, P Global Market Intelligence, Justice Locations: New York, Alabama, Detroit, America, Ypsilanti , Michigan, Wayne , Michigan, Detroit , Michigan, White, Fremont , California, . Mississippi, sharecropping, Chicago , New York, Pittsburgh, Cleveland, AFP, Santa Barbara, Ford's, Rouge, Dearborn , Michigan, Washington, Birmingham, Selma, Black, Flint, Midwest, autoworkers

☆ Stocks making the biggest moves premarket: Rivian, Clorox, Vestis, Chevron and more
▼ + stars: | 2023-10-05 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Check out the companies making headlines in premarket trading. Rivian — Shares of the electric vehicle maker plunged 8.7% after Rivian announced a $1.5 billion convertible bond sale and issued disappointing guidance for the third quarter. Energy stocks — Shares of oil firms Occidental Petroleum , Chevron and ExxonMobil were all lower in premarket trading, as crude prices added to Wednesday's steep declines. Clorox — Shares slipped 4.4% in premarket trading Thursday, a day after the product maker offered weaker guidance for the fiscal first quarter than analysts expected. UWM Holdings — Shares of the mortgage company rose 4.3% in premarket trading after a BTIG upgrade to buy from neutral.

Persons: Rivian, Raymond James, BTIG, Oliver Davies, Vestis, —, Alex Harring, Pia Singh, Jesse Pound Organizations: of Manhattan, StreetAccount, Energy, Occidental Petroleum, Chevron, ExxonMobil, Occidental, Holdings, United Wholesale Mortgage, Orchard Therapeutics, Kirin, Redburn Locations: Meatpacking, New York City, Chevron, Aramark

☆ Rivian shares sink 20% after the EV maker said it plans to raise $1.5 billion
▼ + stars: | 2023-10-05 | by ( John Rosevear | In Jrosevear | ) www.cnbc.com time to read: +1 min

Shares of Rivian Automotive were sharply lower in early trading Thursday, after the company surprised investors with a plan to offer $1.5 billion in convertible notes. It also provided a preliminary estimate of its third-quarter revenue that was in line with Wall Street estimates. Rivian plans to offer $1.5 billion worth of senior, unsecured "green" convertible notes due in 2030. Buyers will have the option to purchase up to an additional $225 million worth of notes, the company said. Rivian on Monday reported third-quarter deliveries that were better than Wall Street had expected.

Persons: Taylor, Rivian Organizations: of Manhattan, Rivian Automotive, Wall Locations: Meatpacking, New York City, U.S

☆ Patrick Thomas — Reporter at The Wall Street Journal
▼ + stars: | 2023-09-27 | by ( Patrick Thomas | ) www.wsj.com time to read: 1 min

Patrick ThomasPatrick Thomas covers agriculture business for The Wall Street Journal. He writes about meatpacking companies, grain traders, pesticide manufacturers, crop seed developers and the way American food is grown. Patrick previously wrote about business education and careers. He joined the Journal in 2018 writing about corporate breaking news. A native of Omaha, Neb., Patrick graduated from Marquette University with a bachelor's degree in journalism.

Persons: Patrick Thomas Patrick Thomas, Patrick Organizations: Wall Street, Marquette University Locations: Omaha, Neb

☆ Sweetgreen sued by workers alleging racial discrimination — including regular use of the N-word — and sexual harassment
▼ + stars: | 2023-09-15 | by ( Jordan Hart | ) www.businessinsider.com time to read: +3 min

Ten former and current Sweetgreen employees are accusing store managers of racial discrimination. The plaintiffs allege managers used and tolerated the use of racial slurs toward Black workers. Managers are also accused of sexual harassment in the lawsuit. We take these accusations seriously and do not tolerate any form of harassment, discrimination, or unsafe working conditions," a spokesperson said to CNBC in a statement. In 2020, another New York-based employee sued Sweetgreen for gender discrimination and sexual harassment.

Persons: —, Kiana Alvarado, Sweetgreen didn't, Sweetgreen Organizations: Service, New York Supreme, New, Financial, CNBC Locations: Wall, Silicon, Bronx, New York City, Greenwich Village, Midtown East, Meatpacking District, New York

Search resuls for: "Meatpacking"

25 mentions found