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But there’s a good chance at least some of them, at a mix of plants and companies, will walk out. Those limited, targeted strikes could be enough to grind production to a halt at America’s three unionized automakers. One advantage for the union of a targeted strike is the potential to save resources and extend a possible walkout. Striking union members are eligible for $500 a week from the union’s strike fund. The companies did not respond to questions Wednesday about their plans if faced with the targeted strikes Fain described on Wednesday.

Persons: Shawn Fain, Fain, Jeff Schuster, ”, Schuster, Jim Farley, Farley, Bill Ford, ” Farley, “, ” Ford, can’t, “ We’re, Patrick Anderson, Anderson, That’s, Ford Organizations: Detroit CNN, General Motors, Ford, United Auto Workers, UAW, America ’, GlobalData, GM, Detroit Auto, Jeep, Dodge, Chrysler, Anderson Economic Group, Fiat Chrysler, PSA Group Locations: America, Detroit, North America, Michigan, Edmunds, That’s, European

☆ Detroit Three strike deadline nears as sides remain far apart
▼ + stars: | 2023-09-14 | by ( David Shepardson | ) www.reuters.com time to read: +4 min

[1/4] "UAW on strike" picket signs lay on a pile of wood outside the General Motors Detroit-Hamtramck Assembly in Hamtramck, Michigan, U.S. October 25, 2019. "To win, we're likely going to have to take action," UAW President Shawn Fain said on Wednesday. Fain said it was still possible that at a later date all of the auto workers could strike. Some losses could be recouped by boosting production schedules after a strike, but that possibility fades as a strike extends to weeks or months. That is less than half the pay hikes the union has sought, but higher than companies initial offers.

Persons: Rebecca Cook, we're, Shawn Fain, Fain, Joe Biden, Jared Bernstein, Stellantis, Ford, Bernie Sanders, David Shepardson, Peter Henderson, Jamie Freed Organizations: UAW, General Motors Detroit, Hamtramck, REUTERS, U.S ., United Auto Workers, Detroit, Deutsche Bank, Biden, Ford, General Motors, Chrysler, GM, Thomson Locations: Hamtramck , Michigan, U.S, Detroit

☆ Thousands of UAW members go on strike at three key auto plants after deal deadline passes
▼ + stars: | 2023-09-14 | by ( Michael Wayland | ) www.cnbc.com time to read: +3 min

In this article GMFSTLA Follow your favorite stocks CREATE FREE ACCOUNTMembers of the United Auto Workers union hold a rally and practice picket near a Stellantis plant in Detroit, Aug. 23, 2023. For Ford, UAW President Shawn Fain said only workers in paint and final assembly will be on strike. About 12,700 workers – 5,800 at Stellantis, 3,600 at GM and 3,300 at Ford – will be on strike at the plants in total, the union said. The UAW represents about 146,000 workers across Ford, GM and Stellantis. Fain has referred to the union's plans as a "stand-up strike," a nod to historic "sit-down" strikes by the UAW in the 1930s.

Persons: Michael Wayland, Shawn Fain, Fain, Joe Biden, Biden, Ford Organizations: United Auto Workers, CNBC DETROIT –, General Motors, Ford Motor, Ford, UAW, GM, Facebook, YouTube, Detroit automakers, Tesla, Toyota Locations: Detroit, Wentzville , Missouri, Wayne , Michigan, Toledo , Ohio, Stellantis, United States

The Friday walkout would start with targeted strikes designed to "create confusion," among automakers, Fain said, leaving the door open for last-minute agreements. Referring to Biblical scripture, Fain asked union members: "Are you willing to have faith and move that mountain? On Wednesday, he told UAW members they must fight for a better contract "by any means necessary" - one of Malcolm X's most quoted phrases. That six-week strike cost GM $3.6 billion and stressed the finances of UAW members. Like the Hollywood unions, the UAW members at the Detroit Three face threats from new technology that a richer contract will not resolve.

Persons: Shawn Fain, Fain, Malcolm X, they’ve, Sen, Bernie Sanders, Malcolm X's, Joe White, Ben Klayman, Bianca Flowers, David Shepardson, Matthew Lewis, Diane Craft Organizations: DETROIT, United Auto Workers, Detroit Three, automakers, General Motors, Ford, Stellantis, UAW, Wall, Detroit, GM, Teamsters, United Parcel Service, UPS, Hollywood, Thomson Locations: Hollywood, Detroit, Chicago, Washington

Some creative programming — including shows imported from other countries, competition series and the broadcast arrival of the Paramount Network hit “Yellowstone” — will round-out gaps in the TV schedule. The limited series also stars Mark Ruffalo and Hugh Laurie and debuts Nov. 2. “The Continental” debuts Sept. 22. SIGNS OF STRIKESThere are also programs coming to TV this fall that are obvious time-fillers to help round out primetime schedules. Fox has leaned in heavily to competition shows.

Persons: “ Abbott, ”, Janine, Gregory, Kim Raver's Dr, Teddy Altman, Zakiya Dalila Harris, Sinclair Daniel, Hazel, Ashleigh Murray, Jesse L, Martin, Dan Ariely’s, “, Jenna Coleman, Victoria, Oliver Jackson, Cohen, Liv, Will doesn't, wasn't, B.E, Jones, Ashley Benson, Eric Balfour, Brie Larson, Bonnie Garmus, Elizabeth, Calvin, Lewis Pullman, Anthony Doerr, Shawn Levy, Marie, Aria Mia Loberti, Werner, Louis Hoffman, Mark Ruffalo, Hugh Laurie, Danai Gurira, Steven Yeun, Lauren Cohan, Jon Bernthal, Norman Reedus, Reedus, Daryl Dixon, Daryl, John Wick, Keanu Reeves, John Wick ”, Mel Gibson, Colin Woodell, Ian McShane's, Kelsey Grammer, Frasier Crane, Frasier, “ Scott Pilgrim, Michael Cera, Mary Elizabeth Winstead, Kieran Culkin, Anna Kendrick, Kevin Costner's, Sydney ”, They've, Rose McIver, Singer ”, they've, David Spade, Lea Thompson’s “ Spencer, Chad Michael Murray, Scott Patterson —, Hilary Fox Organizations: “, Paramount Network, Hollywood, Hulu, NBC, Apple, Netflix, SPIN, AMC, Godolkin University School of Crimefighting, Paramount, CBS, Sydney, Fox, Forces, ABC, Disney Locations: France, Nazi, Boston, United States, States, Paradise

☆ Ford CEO rebuffs UAW leader's criticisms as strike deadline on Thursday approaches
▼ + stars: | 2023-09-14 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

Ford CEO Jim Farley speaks with media after revealing the 2024 Ford F-150 for the Detroit auto show on Sept. 12, 2023. Farley said the company has received "no genuine counteroffer" on its four economic proposals, including the latest offer that Ford is calling the most generous offer ever between the UAW and company. He also said Fain, who is simultaneously negotiating with General Motors and Stellantis , was absent during a Tuesday meeting that he and Ford Chair Bill Ford expected Fain to attend. Public criticism between the union and an automaker aren't unprecedented but the amount of detail being released, announced strike plans and simultaneous bargaining certainly are. Farley said he didn't know Fain had received the offer until he was discussing it during a 5 p.m. Facebook Live with union members.

Persons: Jim Farley, Shawn Fain, Farley, Fain, Bill Ford, didn't Organizations: Detroit, DETROIT, Ford Motor, United Auto Workers, Ford, UAW, General Motors, Detroit Auto, Facebook

☆ UAW president says union is still seeking big pay hikes
▼ + stars: | 2023-09-13 | by ( David Shepardson | ) www.reuters.com time to read: +4 min

Sept 13 (Reuters) - United Auto Workers (UAW) President Shawn Fain said on Wednesday the union is still seeking significant pay hikes as talks continue with the Detroit Three automakers, a day before four-year labor deals are set to expire. Reuters reported late on Tuesday that the union may opt to strike at targeted auto plants if they fail to reach new contracts covering 146,000 U.S. auto workers. The UAW initially sought a 20% wage hike upon ratification and four annual 5% hikes, but had offered trim those hikes to around 36% in total, three sources told Reuters. Fain said the union was still seeking 40% hikes in total. Coordinated strikes would mark the first-ever simultaneous labor stoppage at all three Detroit automakers and one of the largest U.S. industrial labor actions in recent years.

Persons: Shawn Fain, Fain, We've, Stellantis, We’re, Joe Biden, Jared Bernstein, Biden, Bernstein, Liz Shuler, Shuler, Bernie Sanders, David Shepardson, Christina Fincher, Nick Zieminski Organizations: United Auto Workers, UAW, Detroit Three, ABC News, General Motors, Ford Motor, Chrysler, Reuters, GM, Detroit, Anderson Economic Group, AFL, CNBC, Ford, Thomson Locations: Michigan, United States, DETROIT

☆ UAW president says union still seeking big pay hikes
▼ + stars: | 2023-09-13 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

Sept 13 (Reuters) - United Auto Workers (UAW) union President Shawn Fain said on Wednesday the union is still seeking significant pay hikes as talks continue with the Detroit Big Three automakers, a day before four-year labor deals are set to expire. The UAW initially sought a 20% wage hike upon ratification and four annual 5% hikes, but had offered trim those hikes to around 36% in total, three sources told Reuters. Fain said the union was still seeking 40% hikes in total. Ford last week hiked its offer to a 10% wage hike and lump sum payments after offering a 9% wage increase through 2027 and 6% lump sum payments. Coordinated strikes would mark the first-ever simultaneous labor stoppage at all three Detroit automakers and one of the largest U.S. industrial labor actions in recent years.

Persons: Shawn Fain, Fain, We've, Bernie Sanders, Stellantis, David Shepardson, Christina Fincher, Nick Zieminski Organizations: United Auto Workers, UAW, Detroit Big, ABC News, GM, General Motors, Ford Motor, Chrysler, Reuters, Detroit, CNBC, Ford, Anderson Economic Group, Thomson Locations: Michigan

☆ UAW president: lot of work remaining to reach auto labor deals
▼ + stars: | 2023-09-13 | by ( ) www.reuters.com time to read: 1 min

Sept 13 (Reuters) - United Auto Workers (UAW) union President Shawn Fain said on Wednesday that progress is slow as talks continue with the Detroit Big Three automakers, just a day before four-year labor deals covering 146,000 U.S. workers are set to expire. The clock is ticking," Fain told ABC News, adding more talks are scheduled. "We've got a lot of work to do." Reuters and other outlets reported late Tuesday that the union may opt to strike targeted auto plants if they fail to reach new contracts. Reporting by David Shepardson; editing by Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

Persons: Shawn Fain, Fain, We've, David Shepardson, Jason Neely Organizations: United Auto Workers, UAW, Detroit Big, ABC News, Reuters, Thomson

☆ Ford’s former CEO has a stark warning for both the UAW and automakers
▼ + stars: | 2023-09-13 | by ( Matt Egan | ) edition.cnn.com time to read: +8 min

“The automakers can’t plead poverty,” Fields told CNN on Wednesday, noting the industry’s recent string of profitable years. [Automakers’] CEO pay went up 40%. “But I do think he’s quite misplaced in that if there’s a work stoppage… there will be lots of people hurt,” the former Ford CEO said. However, economists say a UAW strike is unlikely to cause a recession, though it would do damage to local economies and parts suppliers. You can’t fault them for trying to deal with inflation that is hurting their families,” the former Chrysler CEO said.

Persons: Mark Fields, ” Fields, “, ”, Jim Farley, Fields, CNN’s Vanessa Yurkevich, “ We’re, ” Farley, Shawn Fain, ’, ” Fain, Jake Tapper, Bob Nardelli, ” Nardelli, Goldman Sachs, “ It’s, Fain, Nardelli, Ron Gettelfinger, Ford, CNN’s Chris Isidore Organizations: New York CNN Business —, Detroit, Ford, GM, CNN, Chrysler, United Auto Workers, UAW, UPS, American Airlines, West Coast, TPG Capital, Anderson Economic Group, Big Locations: Mexico, Chihuahua

LANSING, Mich. (AP) — The prospect of an auto workers strike could test Joe Biden 's treasured assertion that he's the most pro-union president in U.S. history. Political Cartoons View All 1154 Images“I think the American public as a whole realizes the impact that the American auto workers have on the economy," Killian said. But, unlike with rail and airline workers, the president doesn’t have the authority to order autoworkers to stay on the job. Nowhere will the political fallout of an auto workers strike be felt more than Michigan, which Biden won by nearly 3 percentage points in 2020. And Ray Curry, the former UAW president who was unseated by Fain, had worked with Biden in the past, even attending White House ceremonies.

Persons: Joe Biden, Marick, Doc Killian, Killian, ” Biden, Biden, ”, Shawn Fain, “, Fain, Donald Trump, Trump, TRUMP, doesn't . Fain, Dave Green, ” Green, doesn’t, Mark Brewer, Brewer, Ray Curry, Gene Sperling, Biden's, he'll, what's, Randi Weingarten, Biden’s, Weingarten, ___ Weissert, Tom Krisher Organizations: United Auto Workers, General Motors, Ford, Wayne State University, CNN, UAW, Republican, UAW “, “ Union, Democratic, GOP, Michigan Democratic Party, U.S, White, longtime Democratic, Trump, American Federation of Teachers, Associated Press Locations: LANSING, Mich, Michigan, Ohio, Indiana, Detroit, Wayne , Michigan, America, China, Washington, United States, U.S, Wisconsin, Pennsylvania, Philadelphia

A targeted strike could shut operations for each company, depending on which plants and facilities are struck. One advantage for the union of a targeted strike is the potential to save resources and extend a possible strike. The union members who are on strike are eligible for $500 a week in strike benefits from the union’s strike fund. With targeted strikes, it’s possible that the companies will shut down operations and lay off members who are not technically on strike. GM’s statement did not address what it planned to do if their operations are disrupted by a targeted strike.

Persons: Shawn Fain, Fain, Jeff Schuster, ”, “, ” Fain, Patrick Anderson, John Hatline, Hatline Organizations: Detroit CNN — United Auto Workers, General Motors, Ford, GlobalData, Jeep, Dodge, Chrysler, UAW, Anderson Economic, CNN Locations: America, Michigan, Detroit

DETROIT – The United Auto Workers and Detroit automakers remain far apart ahead of the union "likely" strategically striking the companies after an 11:59 p.m. ET Thursday deadline, UAW President Shawn Fain said Wednesday night. Fain also laid out general plans about how the union expects to strategically strike the Detroit automakers, if needed. Fain referred to the union's plans as a "stand-up strike," a nod to historic "sit-down" strikes by the UAW. He also said Fain missed a Tuesday meeting that he and Ford Chair Bill Ford believed he would be attending.

Persons: Shawn Fain, Fain, …, Sen, Bernie Sanders, Jim Farley, Bill Ford, Farley, it's, Ford, Stellantis Organizations: DETROIT, United Auto Workers, Detroit, UAW, General Motors, Ford Motor, Detroit automakers, Ford Locations: Detroit, U.S, Vermont

☆ UAW may implement targeted strikes if no deals reached with Detroit automakers
▼ + stars: | 2023-09-13 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

Members of the United Auto Workers union hold a rally and practice picket near a Stellantis plant in Detroit, Aug. 23, 2023. Michael Wayland / CNBCDETROIT — The United Auto Workers union plans to implement targeted strikes at certain plants against the Detroit automakers if tentative contracts are not reached with General Motors , Ford Motor and Stellantis , according to union officials briefed on the matter Tuesday night. Targeted strikes refer to work stoppages only at certain plants involving local contract issues that many, if not most, plants have. Conducting targeted strikes can be complex, as it's not clear how one plant will impact others. Targeted strikes will save the union cash, as they won't have to give "strike pay" to as many members from its $825 million strike fund.

Persons: Michael Wayland, Shawn Fain, CNBC Fain Organizations: United Auto Workers, CNBC DETROIT —, Detroit, General Motors, Ford Motor, CNBC, GM, UAW, Solidarity Sunday, Companies Locations: Detroit, Warren , Michigan

☆ ‘A spit in the face.’ Electric vehicle plans worry a Midwest auto town
▼ + stars: | 2023-09-13 | by ( Chris Isidore | ) edition.cnn.com time to read: +8 min

The first piece of steel for the Stellantis and Samsung joint venture EV battery plant is raised earlier this year. Many believe the company will decide to have other work done at the Kokomo plants, even if it no longer needs transmissions or engines. A fraction of auto plant payThe Kokomo battery plant is still more than a year away from starting production. The battery plant workers are likely to start at half that, Quirk said. Even the top wage will be nearly 30% below top wage at a UAW plant today, let alone what it could be in the upcoming contract.

Persons: “, ”, Gary Quirk, Quirk, epitomize, Stellantis —, Adam Nelson, Shawn Fain, Denny Butler, Chris Isidore, Todd Dunsmore, EVs, Philip Kline, Daniel Acker, Joe, Biden, Butler, —, Kline, ” Quirk, it’s, won’t, that’s, Dunsmore, “ I’ve Organizations: Indiana CNN, United Auto Workers, Stellantis, Jeep, Dodge, Chrysler, Samsung, UAW, Big, —, Motors, Ford, EV, Local, CNN Kokomo, Kokomo, EVs, Employees, Bloomberg, Getty, General Motors, GM, LG, Workers, aren’t Locations: Kokomo, Indiana, Kokomo , Indiana, Midwest, Indianapolis, South Bend, Stellantis, ”, —, Ohio, North America

☆ U.A.W. Prepares for Partial Strike Against Detroit Automakers on Friday
▼ + stars: | 2023-09-13 | by ( Neal E. Boudette | More About Neal E. Boudette | ) www.nytimes.com time to read: +1 min

Barely 24 hours before the contract deadline, the United Auto Workers leader said Wednesday that his members were prepared for a strike against the three Detroit automakers — first at a limited number of factories, with the walkout expanding if talks remain bogged down. “September 14 is a deadline, not a reference point,” he declared in an address to union members on Facebook Live. He said the initial strike locations would be “limited and targeted,” and would be communicated to members on Thursday night ahead of a Friday walkout. This tactic — a departure from the union’s usual strategy of staging an all-out strike against a single automaker chosen as a target — is intended to give the U.A.W. negotiators increased leverage in the talks, and to keep the manufacturers off balance.

Persons: Shawn Fain, ” Organizations: United Auto Workers, Detroit automakers —, General Motors, Ford Motor, Facebook

☆ UAW will strike against Detroit automakers if deals aren't reached by Thursday, union boss says
▼ + stars: | 2023-09-13 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

The United Auto Workers union will strike against the Detroit automakers if the sides don't reach labor deals by an 11:59 p.m. Fain's comments came the morning after he outlined plans to local union leaders about implementing targeted strikes at certain General Motors , Ford Motor and Stellantis plants, if agreements aren't reached by Thursday. "All three are expected to deliver for their workers and if they don't, there will be action." Targeted strikes refer to work stoppages only at certain plants, related to local contract issues that many, if not most, facilities have. That differs from national strikes where all union members exit plants, which occurred four years ago during the last round of negotiations with GM.

Persons: Shawn Fain, Fain, Phil LeBeau, Ford Organizations: United Auto Workers, Detroit automakers, Ford Motor, GM

☆ Standoff Over Electric Vehicle Workers Poses Risk for Biden
▼ + stars: | 2023-09-13 | by ( Noam Scheiber | More About Noam Scheiber | ) www.nytimes.com time to read: +1 min

President Biden has been highly attuned to the politics of electric vehicles, helping to enact billions in subsidies to create new manufacturing jobs and going out of his way to court the United Automobile Workers union. The union, under its new president, Shawn Fain, wants workers who make electric vehicle components like batteries to benefit from the better pay and labor standards that the roughly 150,000 U.A.W. The Detroit automakers counter that these workers are typically employed in joint ventures with foreign manufacturers that the U.S. automakers don’t wholly control. The companies say that even if they could raise wages for battery workers to the rate set under their national U.A.W. contract, doing so could make them uncompetitive with nonunion rivals, like Tesla.

Persons: Biden, Ram —, Shawn Fain, Tesla Organizations: United Automobile Workers, —, Motors, Ford Motor, Chrysler, Jeep, Detroit automakers, U.S, don’t

☆ U.S. Automakers Face a Huge Strike. Here’s What to Know.
▼ + stars: | 2023-09-13 | by ( J. Edward Moreno | More About J. Edward Moreno | ) www.nytimes.com time to read: +1 min

The United Auto Workers union, which represents about 150,000 workers at U.S. car plants, could strike against three of the country’s largest automakers on Friday if the union and the companies are unable to reach new contracts. The president of the U.A.W., Shawn Fain, said that Thursday was the “deadline, not a reference point.”The union is negotiating a separate four-year contract with each automaker. has never struck against all three companies at once, preferring to target one at a time. But Mr. Fain has said he and his members are willing to strike against all three this time. is demanding 40 percent wage increases over four years, which Mr. Fain says is in line with how much the salaries of the companies’ chief executives have increased in the past four years.

Persons: Ram —, Shawn Fain, Fain Organizations: United Auto Workers union, U.S, —, Motors, Ford Motor, Chrysler, Jeep

☆ Trump, Meadows offer quid pro quo on speedy trial to sever Georgia election case from co-defendants
▼ + stars: | 2023-09-13 | by ( Dan Mangan | ) www.cnbc.com time to read: +1 min

Donald Trump on Wednesday offered to "exchange" his right to a speedy trial in his Georgia election-conspiracy case for an Atlanta judge ruling that would have the former president tried separately from 18 other defendants. Trump's co-defendant Mark Meadows, who served as his White House chief of staff, shortly afterward filed an identical offer waiving a speedy trial in exchange for his own case being tried separately. Fulton County Superior Court Judge Scott McAfee has yet to rule on the severance requests that Trump, Meadows and 10 other defendants have filed. It is by no means clear that McAfee would grant severances based on waivers of speedy trial. Trump and the other defendants have the absolute right to a speedy trial in the case.

Persons: Donald Trump, Trump's, Mark Meadows, — Shawn Still, Harrison Floyd, Jenna Ellis, David Shafer —, Scott McAfee, McAfee, Trump, Kenneth Chesebro, Sidney Powell — Organizations: U.S, Atlanta Hartsfield, Jackson International, White, Trump Locations: Fulton County, Atlanta , Georgia, Georgia, Atlanta, Meadows

☆ Jim Cramer says 'watch Ford as a barometer' of potential United Auto Workers strike risk
▼ + stars: | 2023-09-13 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +1 min

Ford Motor 's (F) stock may offer clues into Wall Street's current attitude toward potential strikes by the United Auto Workers union, CNBC's Jim Cramer said Wednesday. The UAW has been negotiating new contracts for its 146,000 members with the three Detroit automakers — Ford, General Motors (GM) and Jeep-owner Stellantis (STLA). "I want to watch Ford as a barometer," Cramer said on "Squawk on the Street." The UAW also may decide to implement targeted strikes at certain plants, CNBC reported Tuesday night, citing union officials. In an interview earlier Wednesday on CNBC, UAW President Shawn Fain was asked whether Ford, which employs the most UAW members of the Detroit Three, was the least likely to be struck.

Persons: CNBC's Jim Cramer, —, Stellantis, Ford, Cramer, Jim Cramer's, he's, Shawn Fain, Fain Organizations: Ford, United Auto Workers, UAW, Detroit, — Ford, General Motors, CNBC, Cramer's Charitable Trust, Club, UBS, GM Locations: Cramer's

DETROIT (AP) — aWith just over 24 hours left before a strike deadline, United Auto Workers President Shawn Fain says offers from the companies aren't enough and the union is getting ready to strike. We are preparing to strike these companies in a way they've never seen before.”The union is threatening to strike after contracts with companies that haven't reached an agreement by 11:59 p.m. on Thursday. On Wednesday, Fain said the companies upped their wage offers, but he still called them inadequate. In a 2019 agreement the union got 6% pay raises over four years with lump sums in some years as well as profit sharing checks. All three companies’ offers on cost-of-living adjustments were deficient, he said, providing little or no protection against inflation, or annual lump sums that may workers won’t get.

Persons: — aWith, Shawn Fain, Fain, ”, “, haven't, they’ll, It's, ” Fain, Ford, Stellantis, won’t, ” Tobin Williams, Thomas Kochan, “ It’ll, ____ Koenig Organizations: DETROIT, United Auto Workers, Motors, Ford, UAW, GM, Massachusetts Institute of Technology Locations: North America, Dallas

☆ This week’s US inflation data is very important. Here’s why
▼ + stars: | 2023-09-12 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

All this uncertainty has led markets to lack conviction, flip-flopping as conflicting narratives around inflation rates and Fed hikes prevail. But this week’s readings — just a few days ahead of the Fed’s September policy meeting -— could give the markets direction. “Getting core inflation to 2% won’t come quickly, and upside risks remain,” said Greg McBride, chief financial analyst at Bankrate. And while the Fed generally looks at core inflation, the impact of crude prices often extends into other areas of the economy. Pensions and inflation adjustments: The UAW wants a return of traditional pension payment plans and retiree health care for all UAW members.

Persons: There’s, —, Price, Jason Pride, Michael Reynolds, Glenmede, ”, Greg McBride, David Kelly, Chris Isidore, Shawn Fain, they’re, Chris, Jordan Valinsky, Instacart, “ Organizations: CNN Business, Bell, New York CNN, United Auto Workers, Federal, Consumer, of America, JPMorgan Asset Management, UAW, Ford, Jeep, Dodge, Chrysler, Workers, Union Locations: New York, China, Saudi Arabia, Russia, America, Instacart

DETROIT (AP) — Leaders of the United Auto Workers union are considering targeted strikes at a small number of factories run by each of Detroit's three automakers if they can't reach contract agreements by a Thursday night deadline. At the Tuesday meeting, Fain didn't say whether the union would target vehicle assembly plants or component factories, one of the people said. Strikes at parts plants could force production halts at multiple assembly factories. The union and companies have said they’re willing to talk in an effort to work out deals before the deadline. Yet there was optimism on both sides that they still could reach reach deals before the deadline.

Persons: Shawn Fain, Fain, Ford, “ We’ve, Mark Reuss, ” Reuss, it’s Organizations: DETROIT, —, United Auto Workers, UAW, General Motors, Stellantis, Automotive, U.S, Labor, GM, Ford, Fiat Chrysler Locations: Detroit, Stellantis, Korean

☆ How Luckin Coffee overtook Starbucks as the largest coffee chain in China
▼ + stars: | 2023-09-12 | by ( Sheila Chiang | ) www.cnbc.com time to read: +6 min

SHENZHEN, CHINA - 2020/10/05: Chinese coffee shop chain Luckin Coffee logo seen at a store. Founded in 2017, Luckin Coffee burst onto the Chinese coffee scene to challenge Starbucks through affordable coffee options and mobile ordering. China is Starbucks' second-largest market after the U.S. Luckin Coffee grew to 10,829 stores in China at the end of June, surpassing Starbucks as the largest coffee chain brand in the country following what one analyst calls an "aggressive" expansion. Meanwhile, Starbucks' stores worldwide are company-owned and the American coffee chain does not franchise operations, according to its website. The Chinese coffee chain said that it sold 5.42 million Moutai alcohol-infused lattes on the first day of its launch.

Persons: Alex Tai, Li, Rahul Maheshwari, Luckin, Vivian Leung, Zhang Peng, Price, it's, Jianggan Li, Leung, Kweichow Moutai, Moutai, Shawn Yang, Yang, latte Organizations: Getty, Starbucks, U.S, Luckin, Momentum, Coffee, CNBC, Lightrocket, Brand Finance, Blue Lotus Research Institute Locations: SHENZHEN, CHINA, China, Singapore, Guangzhou, TIANJIN, Asia, Beijing

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