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☆ US job growth slows in October; unemployment rate rises to 3.9%
▼ + stars: | 2023-11-03 | by ( Lucia Mutikani | ) www.reuters.com time to read: +3 min

Nonfarm payrolls increased by 150,000 jobs last month, the Labor Department's Bureau of Labor Statistics (BLS) said in its closely watched employment report on Friday. The economy needs to create roughly 100,000 jobs per month to keep up with growth in the working-age population. The report could strengthen financial market expectations that the Federal Reserve is done raising interest rates for the current cycle. The labor market is the major force behind the economy's staying power, with gross domestic product recording an annualized growth pace of nearly 5% in the third quarter. But others disagreed, saying that the record-setting contracts would only become an issue for wage inflation if the Fed raised rates too high and choked off demand.

Persons: Brian Snyder, Detroit's, Lucia Mutikani, Nick Zieminski Organizations: Taylor Party, Equipment Rentals, REUTERS, Rights, United Auto Workers, UAW, Labor Department's Bureau of Labor Statistics, Reuters, BLS, Federal, UPS, Thomson Locations: Somerville , Massachusetts, U.S

☆ US job openings stay elevated, layoffs hit nine-month low
▼ + stars: | 2023-11-01 | by ( Lucia Mutikani | ) www.reuters.com time to read: +5 min

The Job Openings and Labor Turnover Survey, or JOLTS report from the Labor Department on Wednesday also showed layoffs dropping to a nine-month low. There were 1.50 job openings for every unemployed person in September, slightly up from 1.49 in August and way above the pre-pandemic ratio of 1.2. Data for August was revised lower to show 9.497 million job openings instead of the previously reported 9.610 million. Economists polled by Reuters had forecast 9.250 million job openings in September. Job openings dropped 43,000 in federal government and there were 41,000 open positions in the information industry.

Persons: Christopher Rupkey, Conrad DeQuadros, Lucia Mutikani, Chizu Organizations: Federal Reserve, Labor, Survey, Labor Department, Treasury, Reuters, Brean, Institute for Supply Management, United Auto Workers, UAW, Detroit's Big, Ford Motor, General Motors, Chrysler, Thomson Locations: WASHINGTON, U.S, New York

Customers might assume that nonunion automakers, like Toyota, Tesla or Hyundai-Kia, will now be able to price their vehicles well below what the Detroit automakers can. “When the dust settles from this UAW debacle, the Detroit auto stalwarts find themselves with a bigger cost profile with competition increasing," said Dan Ives, an analyst at Wedbush. That means that competition for buyers is intensifying as pent-up demand from the pandemic wanes, making it difficult for any automaker to raise prices. But if the Detroit companies report lower income, Wall Street will register its disappointment, and stock prices could fall. “You either raise your labor costs to meet what the UAW is getting or you risk the unionization drive.”

Persons: Stellantis, ”, Jonathan Smoke, pare, Dan Ives, Natalie Knight, Ram, Knight, Smoke, Shawn Fain, Fain, Art Wheaton, wouldn’t, Wheaton, Tesla, ” Wheaton Organizations: DETROIT, United Auto Workers, Detroit’s, General Motors, Ford, Toyota, Hyundai, Kia, Detroit, GM, Cox Automotive, UAW, Chrysler, Jeep, Cox, automakers, Detroit automakers, Cornell University, U.S Locations: United States, U.S, Stellantis, Detroit

☆ Tesla's enduring power is even clearer after the EV competition in Detroit falls flat
▼ + stars: | 2023-10-31 | by ( Alistair Barr | ) www.businessinsider.com time to read: +6 min

AdvertisementAdvertisementThe traditional auto industry has had more than a decade to build viable electric vehicle businesses. Again, maybe the traditional auto companies get a pass. WeWork-level lossesFord's EV business lost $1.3 billion, before interest and taxes, in the third quarter of 2023 – on just $1.8 billion of revenue. Detroit has responded with EV price cuts to try to compete with Tesla. Its auto business had a gross profit margin of more than 16% in Q3.

Persons: Tesla, —, Ford, Elon, haven't, China's BYD, Goldman Sachs, Kelley, Mercedes, Price Organizations: Ford, GM, Service, General Motors, Toyota, Honda, Wall Street, EV, Detroit, Mercedes, Benz, Tesla, LG Energy, Auto Locations: Detroit

☆ NHL roundup: Rangers complete first 5-0-0 road trip
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: +6 min

The Rangers continued their strong start under new coach Peter Laviolette by winning for the seventh time in nine games. New York went unbeaten on a road trip of at least five games for the first time in team history. New York's Artemi Panarin had a goal and added two assists to extend his season-opening point streak to nine games. Chris Kreider scored the tying goal with 6:48 left in the third, and Igor Shesterkin made 27 saves for the win. David Gustafsson and Nikolaj Ehlers scored for the Jets, who lost their second straight game but also gained a point for the fifth straight contest (3-0-2).

Persons: Mika Zibanejad, Tyler Myers, Simon Fearn, Peter Laviolette, Artemi Panarin, Chris Kreider, Igor Shesterkin, David Gustafsson, Nikolaj Ehlers, Cole Perfetti, Connor Hellebuyck, Pavel Zacha, Brad Marchand, Charlie McAvoy, Linus Ullmark, Aleksander Barkov, Sam Reinhart, Hill, Shea Theodore, Paul Cotter, William Carrier, Sean Monahan, Nick Suzuki, Sam Montembeault, Jack Eichel, Jared McCann, Nicholas Paul, Alex Wennberg, McCann, Vince Dunn, Philipp Grubauer, Teuvo Teravainen, Stefan Noesen, Michael Bunting, Frederik Andersen, Owen Tippett, Garnet Hathaway, Carter Hart, Mason McTavish's, McTavish, Tristan Jarry, Jakob Silfverberg, Frank Vatrano, Pavel Mintyukov, Greg Cronin, Erik Karlsson, Evgeni Malkin, Radim Zohorna, Roope, Evgenii Dadonov, Wyatt Johnston, Dallas, Thomas Harley, Matt Duchene, Jason Robertson, Jamie Benn, Jake Oettinger, Dmitri Voronkov, Damon Severson, Sean Kuraly, Elvis Merzlikins, Michael Carcone, Jack McBain, Sean Durzi, Liam O'Brien, Josh Brown, Connor Bedard, Lucas Raymond, Daniel Sprong, Jake Walman, Compher, Detroit's Moritz Seider, Raymond, Ville Husso Organizations: CAN, New York Rangers, Vancouver Canucks, Rogers Arena, Winnipeg Jets, The Rangers, New York, Jets, Bruins, Panthers, Boston, Florida, Eastern Conference, Golden Knights, Canadiens, Vegas, Montreal, Seattle, Tampa, Hurricanes, Flyers, Ducks, Penguins, Anaheim, Pittsburgh, Blue Jackets, Dallas, Columbus, Stars, Coyotes, Blackhawks, Arizona, Chicago, Red Wings, Islanders, Detroit, Thomson Locations: Vancouver, British Columbia, New, Florida, Las Vegas, Tampa Bay, Carolina, Philadelphia, Pittsburgh, Tempe, Ariz, Elmont

DETROIT (AP) — Rookie Jahmyr Gibbs ran for a season-high 152 yards and a touchdown, Jared Goff threw for 272 yards with a score, and the Detroit Lions beat the Las Vegas Raiders 26-14 on Monday night. The Lions kept the ball and scored on their third drive of the second half, taking a two-score lead on Gibbs' 27-yard touchdown run. In all, Las Vegas allowed its beat-up quarterback to get sacked six times. He finished with 15 carries for 61 yards and a 3-yard touchdown late in the first half that cut the Raiders' deficit to 9-7. Entering the game, Las Vegas had held an NFL-high five teams to fewer than 200 yards passing.

Persons: Jahmyr Gibbs, Jared Goff, Goff, Sam LaPorta, Marcus Peters, Detroit's, Craig Reynolds, Gibbs, Riley Patterson, Jimmy Garoppolo, Kerby Joseph, Davante Adams, Garoppolo, misfired —, Adams, Josh Jacobs, Amon, Ra St, Brown, LaPorta, Maxx Crosby, Pro Bowler, LB Luke Masterson, FB Jakob Johnson, RB David Montgomery, Frank Ragnow, OG Jonah Jackson, ___ Organizations: DETROIT, Detroit Lions, Las Vegas Raiders, NFC, Lions, Las Vegas, Raiders, Detroit, Las, NFL, Eastern Michigan's, LB, RB, OG, UP NEXT, New York Giants, Sunday . Lions, Los Angeles Chargers Locations: Las Vegas, Vegas, Detroit, Eastern

☆ Morning Bid: Market bounce sets up Fed-dominated week ahead
▼ + stars: | 2023-10-30 | by ( ) www.reuters.com time to read: +5 min

A trader works on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 27, 2023. A worrying late-year stock market unwind is starkest in small-cap indexes (.RUT) now tracking year-to-date losses of some 7% - even as the benchmark S&P500 (.SPX) remains up 7% and Big Tech leaders of the Nasdaq 100 are still 30% (.NDX) higher. Annual earnings growth for S&P500 companies is now expected to have picked up to a 4.3% annual growth rate, according to LSEG estimates, from as low as 1.6% before the reporting season began. But beyond Fed policy rates, it's the restive bond market and near 16-year-high long-term borrowing costs that are starting to hurt most. U.S. 10-year Treasury yields held steady at 4.85% - well below the 5% threshold they breached last week.

Persons: Brendan McDermid, Mike Dolan, keener, Russell, China Evergrande, Simon Property, Louis, Nick Macfie Organizations: New York Stock Exchange, REUTERS, Big Tech, Nasdaq, Tech, Federal Reserve, Detroit's Big, Apple, HSBC HSBA.L, Swiss, Swiss National Bank, Bank of Japan, China, HK, Dallas Fed, Western Digital, FMC, Arista Networks, Arch, Semiconductor, Treasury, Reuters, Louis Fed, Reuters Graphics Reuters, Thomson Locations: New York City, U.S, Gaza, London, Europe, Hong Kong, Loews, St

NEW YORK (AP) — U.S. labor unions are once again flexing the muscles in the national spotlight. UNION RATES HAVE BEEN FALLING FOR DECADES. Only 6% of U.S. private-sector workers belong to unions today, a sliver of the 35% that were union members in 1953. The National Labor Relations Act of 1935 granted private-sector employees the right to unionize. That means that what worked in auto workers' labor campaign, for example, may not be possible for other industries.

Persons: Gridlock, ” Alexander Colvin, ”, Eunice Han, Cathy Creighton, Shawn Fain “, ” Creighton, Joe Biden, Todd Vachon, Taft, Hartley, Vachon, Ronald Reagan, “, haven't, John F, Kennedy, ” Vachon, Han, Colvin, ” Colvin, Creighton Organizations: —, United Auto Workers, Big, Cornell University's School of Industrial and Labor Relations, Associated Press, Labor, University of Utah, Cornell University’s Industrial, Labor Relations Buffalo Co, NLRB, Motors, Ford, Facebook, Rutgers School of Management, Labor Relations, Bureau of Labor Statistics, National Labor Relations, Starbucks, Gallup Locations: Las Vegas , Detroit, Southern California, U.S, United States, Midwest

Union wages, and the battles to keep them, have elevated the fortunes of countless Black families, Brooks said. “Black people could take advantage of that and buy homes in neighborhoods throughout Detroit,” Perry said. “Without the union jobs, (employers) can do anything, say anything and you're out the door,” she said. Only about 25% of Detroit's residents are in that range, and about two-thirds of city residents earn less than $50,000 per year, Goss said. Martin described her childhood during the 1970s and 1980s in her predominantly Black Detroit neighborhood as among the “happiest times” of her life.

Persons: WAYNE, Britney Johnson, Johnson's, “, ”, Tracy Brooks, Johnson, Brooks, Bobbie Allen Sr, Allen, ” Brooks, Andre Perry, ” Perry, Mike Duggan, Anika Goss, Goss, Yolanda Martin, Martin, Tracy Hadden Loh, ” Martin, ” ___ Jefferson, Rhonda Shafner Organizations: Black, United Auto Workers, Ford, Union, General Motors, Ford Motor, Blacks, Brookings Metro, Brookings Institution, Daimler Chrysler, Fiat Chrysler, PSA Peugeot, Detroit Future, Chicago . Locations: Mich, Ford's Wayne, Texas, Michigan, Detroit, Stellantis, U.S, Chicago, Black Detroit, Rosedale, Grandmont, Novi, New York

☆ Workers at the Detroit 3 are set to make up to $35 more an hour than at Tesla thanks to new union contracts
▼ + stars: | 2023-10-30 | by ( Nora Naughton | ) www.businessinsider.com time to read: +3 min

Detroit's hourly labor costs could soar to $90 an hour, according to one estimate. At Tesla and foreign car companies, that same hourly labor cost sits between $45 and $55 per hour, industry experts estimate. AdvertisementAdvertisementHeading into contract talks this summer, the labor cost gap between the Detroit Three and Tesla was already sizable. While Ford, GM, and Stellantis were spending about $66 an hour on their factory workers, Tesla was spending just $45 an hour. Throughout the strike, Detroit executives warned of the advantage higher labor costs would hand to their competitors.

Persons: —, That's, Tesla, Wedbush, Bill Ford, Shawn Fain, Fain Organizations: UAW, Service, Detroit, United Auto Workers, Ford, GM, Tesla, Toyota, Honda, Volkswagen Locations: Wells

REUTERS/Rebecca Cook/File Photo Acquire Licensing RightsOct 27 (Reuters) - Chrysler parent Stellantis (STLAM.MI) and the United Auto Workers were nearing a deal that could be finalized as soon a Saturday to end a six-week-old strike, sources told Reuters. The deal will likely set a pattern for new UAW contracts with GM and Stellantis. Talks between Stellantis and the UAW were set to reconvene at 10 a.m. Detroit after lengthy talks on Friday. Talks between the UAW and General Motors were continuing past 9 p.m. Friday. The deal amounts to total pay hikes of more than 33% when compounding and cost-of-living mechanisms are factored in, the UAW said.

Persons: Rebecca Cook, Stellantis, Ford, John Lawler, David Shepardson, Joseph White, Chizu Nomiyama, Peter Henderson, Matthew Lewis, Raju Gopalakrishnan Organizations: General Motors, REUTERS, Chrysler, United Auto Workers, Reuters, Ford Motor, Detroit, GM, Stellantis, UAW, Bloomberg, Ford, Thomson Locations: Detroit , Michigan, U.S, Stellantis, Detroit, New York, Washington

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

☆ Morning Bid: ECB on hold, five's alive in the US
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +2 min

A view shows the European Central Bank (ECB) flag and the flag of the European Union in front of the ECB Building in Frankfurt, Germany, September 14, 2023. All 85 economists polled by Reuters last week expected the European Central Bank to stay on hold. Israel bombarded Hamas targets as it prepared for a ground invasion, with Russia warning the conflict could spread beyond the Middle East. Russia said it successfully tested its ability to deliver a massive retaliatory nuclear strike by land, sea and air. Reuters GraphicsKey developments that could influence markets on Thursday:Economics: European Central Bank meeting, U.S. GDPEarnings: Unilever, Mercedes, Standard Chartered and, after market close, AmazonReporting by Tom Westbrook.

Persons: Wolfgang Rattay, Tom Westbrook, Mike Johnson, Trump, Ted Pick, James Gorman, Morgan Stanley, Pick, Israel, Sam Holmes Organizations: European Central Bank, European Union, REUTERS, Reuters, Unilever, Mercedes, Treasury, Nasdaq, Republican, United Auto Workers, Ford, Standard Chartered, Amazon, Thomson Locations: Frankfurt, Germany, Asia, U.S, Louisiana, Ukraine, Russia, East

☆ VIEW Ford reaches tentative deal with striking UAW workers
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +4 min

REUTERS/Rebecca Cook/File Photo Acquire Licensing RightsOct 25 (Reuters) - The United Auto Workers (UAW) union reached a tentative labor deal on Wednesday with Ford Motor (F.N), the first of Detroit's Big Three car manufacturers to negotiate a settlement to strikes joined by 45,000 workers since mid-September. DANIEL IVES, ANALYST AT WEDBUSH SECURITIES"It's a relief for investors that this UAW nightmare is now over for Ford. JOE BIDEN, U.S. PRESIDENT"I applaud the UAW and Ford for coming together after a hard fought, good faith negotiation and reaching a historic tentative agreement tonight. GENERAL MOTORS STATEMENT"We are working constructively with the UAW to reach a tentative agreement as soon as possible." STELLANTIS STATEMENT"We remain committed to working toward a tentative agreement that gets everyone back to work as soon as possible."

Persons: Rebecca Cook, HARLEY SHAIKEN, DANIEL IVES, Farley, Ford, JOE BIDEN, JEFFREY SCHARF, SHAWN FAIN, Abhirup Roy, David Shepardson, Joe White, Peter Henderson, Christopher Cushing Organizations: Auto Worker, Ford Michigan Assembly Plant, Wayne , Michigan U.S, REUTERS, United Auto Workers, UAW, Ford Motor, UNIVERSITY OF, TIM, Ford, GM, U.S, Big, ACT, Thomson Locations: Wayne , Michigan, UNIVERSITY OF CALIFORNIA, BERKELEY, Detroit

☆ We're hopeful the UAW strike isn't costing Ford as much lost production as GM
▼ + stars: | 2023-10-25 | by ( Paulina Likos | ) www.cnbc.com time to read: +5 min

Investors just got a look at how much the United Auto Workers strike is costing General Motors (GM) in lost production. The UAW began striking Detroit's three automakers last month after Ford, GM and Chrysler-parent Stellantis (STLA) failed to reach a new labor contract with the union. F GM,STLA 1M mountain Ford, GM and Stellantis 1-month Another industry issue Cramer highlighted is that "EV momentum has definitely stalled." Earlier this month, Ford reported third-quarter auto sales were 7.7% higher, driven by "best-ever sales of hybrids." And, updates on the strike and its impact on Ford production will be crucial for investors like us.

Persons: Ford, there's, we'll, Jim Cramer, Cramer, Mary Barra, Jim Farley, Farley, reevaluate, Jim Cramer's, Jim, Rebecca Cook Organizations: United Auto Workers, General Motors, Ford, UAW, GM, Chrysler, Associated Press, LSEG, UBS, Stellantis, General, Michigan EV, EV, CNBC, Ford Motor Co Locations: Texas, Ford's, North America, Dearborn , Michigan

☆ Detroit police say no reason to believe antisemitism behind synagogue leader's killing
▼ + stars: | 2023-10-23 | by ( Gabriella Borter | Thomson Reuters | Gabriella Borter Is A Reporter On The U.S. National Affairs Team | ) www.reuters.com time to read: +2 min

The skyline of Detroit is seen looking south from the midtown area in Detroit, Michigan October 23, 2013. REUTERS/Rebecca Cook/File Photo Acquire Licensing RightsOct 23 (Reuters) - Officials investigating the killing of a synagogue leader in Detroit over the weekend said on Monday that the crime does not appear to have been motivated by antisemitism, although the investigation is still ongoing. "We believe that there are no other groups or anyone else at risk in regards to this particular incident. We believe that this incident was not motivated by antisemitism," White said, adding that the investigation was still young. Michigan Attorney General Dana Nessel remembered Woll in a post on X as being driven by "her sincere love of her community, state and country."

Persons: Rebecca Cook, James White, Samantha Woll, Isaac, White, Woll, Dana Nessel, Gabriella Borter, Jonathan Oatis Organizations: REUTERS, Detroit Police, . Police, Police, Democratic, Thomson Locations: Detroit, Detroit , Michigan, U.S, Israel, Detroit's Lafayette Park, Michigan

DETROIT (AP) — United Auto Workers union President Shawn Fain is expected to update members Friday afternoon on progress in contract talks with Detroit's three automakers as movement was reported with General Motors. The union's strikes at targeted plants at each company began on Sept. 15 and are nearing the start of their sixth week. A person briefed on the talks says the union is exchanging offers with GM and will meet again Friday with the company. The strikes started with one assembly plant from each company after contracts expired at 11:59 p.m. Sept. 14. The union later added the parts warehouses, then one assembly plant each from Ford and GM.

Persons: Shawn Fain, Fain, they’re, Gerald Johnson, ” Johnson, Ford, Stellantis Organizations: DETROIT, United Auto Workers, General Motors, GM, UAW, Ford, Equipment Market Association, Los Angeles Auto Show, CES Locations: America, Louisville , Kentucky, Kentucky

"The UAW is holding the deal hostage over battery plants," said Ford Chief Executive Jim Farley on Sept. 29. Since then, the union has not announced an agreement on battery plant issues with GM or the other automakers. Stellantis and Samsung SDI (006400.KS) have announced plans to build two EV battery plants in Kokomo, Indiana, employing up to 2,800 workers in total. Ford officials have not disclosed details of their proposals for battery plant wages or unionization. Yet, we are very open to working with them on a way forward on the battery plants," Ford executive Kumar Galhotra said on Oct. 12 of talks with the UAW.

Persons: Shawn Fain, bargainers, Jim Farley, Fain, Ultium, Joe Biden's, CATL, Tesla, Stellantis, haven't, Kumar Galhotra, Joe White, Nick Zieminski Organizations: DETROIT, United Auto Workers, Detroit Three, General Motors, Ford, Chrysler, UAW, Detroit, GM, Ultium, Tesla, Samsung SDI, Thomson Locations: Northeast Ohio, Detroit, U.S, Michigan, Belvidere , Illinois, KS, Kokomo , Indiana

But Curtis Chin's parents urged their six kids to ask customers at their Chinese restaurant about their background. Recent hate crimes have evoked comparisons to Vincent Chin's beating death at the hands of two white autoworkers outside his bachelor party. Curtis Chin's uncle was Vincent Chin's best man. Asian American and Pacific Islander groups are behind several upcoming events. “I just can’t impress upon it enough how much I feel like my whole community is rallying behind me for this book,” Chin said.

Persons: Curtis Chin's, —, Chin, “, ”, “ Vincent Who, Vincent Chin, Curtis Chin, it's, ” Chin, Chung's, ” Roland Hwang, Vincent Chin's, Hwang, there’s, George Floyd's, I’ve, Lily Chen, Curtis, Chen, we've, it’s, ___ Tang Organizations: Detroit, Asian American Writers ’, The Washington Post, The, American Citizens, Justice, Detroit Historical Museum, ”, Pacific, Associated Press Locations: Los Angeles, The, Detroit, Chinatown, Detroit's, Cass, The Cass, That's, ”, Asian American, Phoenix, @ttangAP

☆ Jared Goff excels, leads Lions past Buccaneers
▼ + stars: | 2023-10-15 | by ( Field Level Media | ) www.reuters.com time to read: +2 min

October 15 - Jared Goff passed for 353 yards and two touchdowns and the visiting Detroit Lions defeated the Tampa Bay Buccaneers 20-6 on Sunday. The Lions' top rusher, David Montgomery, suffered a rib injury in the second quarter and did not return. Chris Godwin made six receptions for 77 yards for Tampa Bay (3-2). Mayfield had a pass deflected into the hands of safety Will Harris at the Tampa Bay 12-yard-line during the Bucs' second possession. Williams' second career touchdown finished off a nine-play, 73-yard drive.

Persons: Jared Goff, Goff, Ra St, Brown, Jameson Williams, David Montgomery, Baker Mayfield, Chris Godwin, St . Brown, Mayfield, Will Harris, Riley Patterson, Chase, Patterson, McLaughlin, Williams Organizations: Detroit Lions, Tampa Bay Buccaneers, NFC, Lions, Bucs, Tampa Bay, Carolina, Detroit, Tampa, St, Thomson Locations: Detroit, Green, Amon, St, Tampa

☆ Red Wings' Alex DeBrincat aims to continue hot start vs. Jackets
▼ + stars: | 2023-10-15 | by ( Field Level Media | ) www.reuters.com time to read: +3 min

October 15 - Alex DeBrincat has delivered a much-needed scoring punch in his first two games with the Detroit Red Wings. He'll look to score for a third consecutive game when the Red Wings travel to Columbus, Ohio, to face the Blue Jackets on Monday night. A Michigan native, DeBrincat supplied two goals and an assist in Detroit's 6-4 victory over Tampa Bay on Saturday. With the Red Wings, DeBrincat is skating on the first line with center and team captain Dylan Larkin. The Red Wings took two of three games against the Blue Jackets last season.

Persons: Alex DeBrincat, DeBrincat, Dylan Larkin, Larkin, Lucas Raymond, Derek Lalonde, Lalonde, Columbus, Boone Jenner, Pascal Vincent, Vincent, Jenner Organizations: Detroit Red Wings, Ottawa, Red Wings, Blue Jackets, Tampa, Senators, Chicago, New, Philadelphia, New York Rangers, Wings, Thomson Locations: Columbus , Ohio, Michigan, Tampa Bay, New Jersey

TORONTO (AP) — Canadian autoworkers have voted to ratify a three-year contract agreement with General Motors. Workers would get 10% in general pay raises in the first year, with 2% in the second and 3% in the third. The company also agreed to restore cost-of-living pay raises starting in December of 2024. Temporary workers would get pay raises, and those with at least one year of service would get permanent jobs. In the United States, strikes continue by the United Auto Workers union with nearly 34,000 workers off their jobs at all three Detroit companies.

Persons: Unifor Organizations: TORONTO, General Motors, Unifor, Ontario GM, Ford, Stellantis, GM, Workers, United Auto Workers Locations: Ontario, Oshawa, St, Catharines , Ontario, Woodstock , Ontario, United States, Detroit

☆ Here are 3 things to watch in the stock market after a very difficult week
▼ + stars: | 2023-10-14 | by ( Matthew J. Belvedere | ) www.cnbc.com time to read: +10 min

MS YTD mountain Morgan Stanley YTD We certainly hope Morgan Stanley's numbers are as good as Friday's report from our other bank holding Wells Fargo (WFC). Morgan Stanley is expected to grow revenue by more than 2% year over year to $13.2 billion in the third quarter. During a recent conference, Morgan Stanley executives said that capital markets will likely improve in 2024. Shares of Morgan Stanley have struggled this year, dropping more than 8% compared to the S & P 500's nearly 13% advance in 2023. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Stocks, WTI, Jerome Powell's, There's, Patrick Harker, John Williams, Harker, Austan Goolsbee, Lorie Logan, Powell, Christopher Waller, Philip Jefferson, Waller, Jefferson, – Morgan Stanley, Gamble –, Morgan Stanley YTD, Morgan, Jim Cramer, Morgan Stanley, there's, Gamble, Jim, we'll, Charles Schwab, Goldman Sachs, Johnson, Philip Morris, — CNBC's Zev Fima, Jim Cramer's, Spencer Platt Organizations: Nasdaq, Dow, Columbus Day, West Texas, Federal Reserve, Club, Fed, Market, Philadelphia Fed, New York Fed, Chicago Fed, Dallas Fed, United Auto Workers, General Motors, Chrysler, Ford, National Association of Realtors, Procter, Procter & Gamble, Natural Resources, Exxon Mobil, Coterra Energy, of America, United Airlines, Gamble, Housing, Netflix, Alcoa, American Airlines, Taiwan Semiconductor Manufacturing Company, Alaska Air, CSX, American Express, Jim Cramer's Charitable, CNBC, New York Stock Exchange, Getty Locations: Israel, U.S, New, Wells, KBW, Silicon, Manhattan, New York City

DETROIT (AP) — The United Auto Workers union significantly escalated its walkout against Detroit's Three automakers, shutting down Ford's largest factory and threatening Jeep maker Stellantis. “Here's to hoping talks at Stellantis today are more productive than Ford yesterday,” Fain wrote on X, formerly Twitter, without saying what might happen. Ford's truck plant makes heavy-duty F-Series pickup trucks and large Ford and Lincoln SUVs, hitting the company's most lucrative products. The company, however, called the strike expansion “grossly irresponsible” and said it has made strong wage and benefit offers to the union. The Kentucky strike brings to 33,700 the number of workers on strike against the three automakers.

Persons: Shawn Fain, “ Here's, ” Fain, Fain, Ford hasn’t, “, ”, “ We've, they're, Marick, Masters, doesn’t, Sam Fiorani, Fiorani, Patrick Anderson Organizations: DETROIT, United Auto Workers, Detroit's, Stellantis, Ford, Lincoln, General Motors, UAW, Kentucky, Wayne State University, GM, Detroit automakers, AutoForecast Solutions, Anderson Economic, Suppliers Locations: Ford’s Kentucky, Louisville, Stellantis, Dearborn , Michigan, Kentucky, Michigan , Ohio , Illinois , Kansas , Indiana, New York, Lansing , Michigan

Support for the autoworkers fell short of the 55% support for striking Hollywood writers and actors in an AP-NORC poll conducted last month. In the new AP-NORC survey, 51% say labor unions help U.S. workers while only 15% say they hurt working people. About one-third say unions help the U.S. economy, while 22% say they damage the economy. That’s better for the consumers.”The United Auto Workers went on strike Sept. 15 against Ford, General Motors and Stellantis, which owns the Jeep, Dodge and Ram brands. That's a fear held by some auto workers who maintain that EVs require fewer people to build.

Persons: Rachel Collins, ”, “, Chris Ross, Tesla, ” Ross, Joe Biden, Donald Trump, Barbara Tubbs, Jim Grove, wasn't, Biden's, ” Grove Organizations: Associated Press, NORC, for Public Affairs Research, Teamsters, United Parcel Service, AP, UAW, United Auto Workers, Ford, General Motors, Jeep, Dodge, Republican, GOP Locations: Hollywood, U.S, Chicago, Oviedo , Florida, Detroit, Dallas, Sharon , Pennsylvania, ”

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