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"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

☆ US weekly jobless claims hit nine-month low
▼ + stars: | 2023-10-19 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

Though the labor market is gradually cooling, conditions remain tight, with claims at the very low end of their range of 194,000 to 265,000 for this year. The Fed's Beige Book report on Wednesday said "labor market tightness continued to ease across the nation" in early October and implied cooling wage pressure. The labor market is driving consumer spending and the overall economy, ultimately keeping inflation elevated. The claims report covered the week during which the government surveyed business establishments for the nonfarm payrolls component of October's employment report. The so-called continuing claims increased 29,000 to a still-low 1.734 million during the week ending Oct. 7, the claims report showed.

Persons: Andrew Kelly, Christopher Rupkey, Unadjusted, Jerome Powell's, Jay Hawkins, Lucia Mutikani, Chizu Nomiyama, Jonathan Oatis Organizations: REUTERS, Labor Department, Federal Reserve, Financial, Treasury, Reuters, United Auto Workers, UAW, Ford, General Motors, Chrysler, U.S, Economic, of New, National Association of Realtors, realtors, BMO Capital Markets, Philadelphia Fed, Thomson Locations: Manhattan , New York City, U.S, WASHINGTON, New York, Texas , New York , New Jersey, Georgia, California, Tennessee, Michigan, of New York, Toronto, Pennsylvania, New Jersey, Delaware

☆ Ford recalling 35,000 US Mach-E EVs over power loss reports
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: +1 min

[1/2] Ford Mustang Mach-E is presented at the New York International Auto Show, in Manhattan, New York City, U.S., April 5, 2023. REUTERS/David 'Dee' Delgado/File photo Acquire Licensing RightsWASHINGTON, Oct 18 (Reuters) - Ford Motor (F.N) said on Wednesday it is recalling 35,000 Mustang Mach-E electric vehicles because high voltage battery main contactors may overheat resulting in a loss of driving power. The new recall of 2021 and 2022 model year Mach-E vehicles with extended range followed an August investigation by the National Highway Traffic Safety Administration's (NHTSA) into whether Ford's June 2022 recall of 49,000 Mach-E vehicles properly addressed the issue. The new recall, which is limited to extended range vehicles, includes a replacement high voltage battery junction box. NHTSA said in August that following the 2022 recall, Ford issued a service bulletin to replace the high voltage battery junction box and said owners that experienced loss of motive power after receiving the recall remedy had the part replaced.

Persons: David, Dee, Delgado, Ford, David Shepardson, Aurora Ellis Organizations: Ford, New York, REUTERS, Rights, National, NHTSA, Thomson Locations: Manhattan , New York City, U.S

☆ Ford reshuffles top management as UAW strike drags on
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: +1 min

[1/2] Ford logo is pictured at the 2019 Frankfurt Motor Show (IAA) in Frankfurt, Germany September 10, 2019. REUTERS/Wolfgang Rattay/File Photo Acquire Licensing RightsCompanies Ford Motor Co FollowOct 18 (Reuters) - Ford Motor Co (F.N) on Wednesday announced a management rejig, promoting combustion vehicle unit chief Kumar Galhotra to the position of chief operating officer, even as the ongoing autoworkers strike shows little signs of ending. Galhotra, who previously headed Ford Blue unit that makes gas and hybrid vehicles, will now lead the automaker's global industrial system. Ford also named Andrew Frick as the new head of Ford Blue. Frick previously managed Ford Blue's sales and distribution functions, trucks, SUVs and enthusiast vehicles, and operations in Mexico and Canada.

Persons: Wolfgang Rattay, Kumar Galhotra, Galhotra, Ford, Andrew Frick, Frick, Nathan Gomes, Krishna Chandra Organizations: REUTERS, Ford, Ford Motor, Wednesday, Ford Blue, United Auto Workers, Anderson Economic Group, UAW, Thomson Locations: Frankfurt, Germany, Mexico, Canada, East Lansing , Michigan, Ford's Kentucky, Bengaluru

☆ Ford says US fuel economy plan would cause automaker 'economic hardship'
▼ + stars: | 2023-10-18 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

WASHINGTON, Oct 18 (Reuters) - Ford Motor Co (F.N) said on Wednesday a proposal by President Joe Biden's administration to hike vehicle fuel economy standards through 2032 threatens to cause "substantial economic hardship" for the No. The agency made the proposal as Biden's administration seeks to cut greenhouse gas emissions to combat climate change and to reduce fuel use. The proposal would result in a fleet-wide average fuel efficiency of 58 miles (93 km) per gallon. "We see substantial risk of unprecedented civil penalties in the CAFE program," Ford said. It added that its proposal "is focused on saving Americans money at the gas pump and strengthening American energy independence."

Persons: Joe Biden's, Ford, Tesla, David Shepardson, Will Dunham Organizations: Ford Motor, NHTSA, American Automotive Policy Council, Detroit Three, Ford, General Motors, Chrysler, U.S, Reuters, Thomson Locations: U.S

The move is the latest sign that electric vehicle production and demand may not be as strong as forecast. GM had been set to begin production of the electric Chevrolet Silverado and GMC Sierra in late 2024 at the suburban Detroit plant. Ford said in July it would slow the ramp-up of electric vehicle production and forecast a full-year loss of $4.5 billion on its EV unit. GM still plans a significant boost in EV production in 2024 including adding a new shift at a Detroit-Hamtramck factory that is currently building EV SUVs and pickup trucks. General Motors said on Tuesday it still plans to end production of the Chevrolet Bolt EV at the end of 2023.

Persons: Rebecca Cook, Ford, General Motors, Ben Klayman, David Shepardson, Will Dunham, Franklin Paul, Chizu Organizations: General Motors, REUTERS, Rights, General Motors Co, GM, Silverado, GMC Sierra, Reuters, United Auto Workers, Detroit -, GMC Sierra EV, General, Chevrolet, Thomson Locations: Detroit , Michigan, U.S, Orion, Detroit, Ohio, Detroit - Hamtramck, United States, Washington

☆ US manufacturing output rises solidly in September
▼ + stars: | 2023-10-17 | by ( ) www.reuters.com time to read: +3 min

Manufacturing output rose 0.4% last month, the Federal Reserve said on Tuesday. Durable goods manufacturing output rose at a 2.3% annualized rate, which was offset by a 2.4% pace of decline in nondurable manufacturing. Motor vehicle and parts output rose 0.3% last month after declining 4.1% in August. Mining output rose 0.4% after gaining 0.2% in August. Overall industrial production rose 0.3% in September after being unchanged in August.

Persons: Kamil Krzaczynski, Lucia Mutikani, Paul Simao Organizations: REUTERS, Rights, Federal Reserve, Reuters, United Auto Workers, UAW, General Motors, Ford, Chrysler, Institute for Supply, Utilities, Thomson Locations: Normal , Illinois, U.S, Kentucky

☆ EU-made EVs would cost $4,100 more in UK under post-Brexit rules - SMMT
▼ + stars: | 2023-10-17 | by ( Nick Carey | ) www.reuters.com time to read: +2 min

Free2Move Paris electric vehicles by Groupe PSA are displayed outside Paris city hall as the French car maker launches its free-floating car-sharing service in Paris, France, November 29, 2018. The Society of Motor Manufacturers and Traders (SMMT) said those same rules will also add 3,600 pounds to the average British-built EV sold in Europe. Automakers and industry groups like the SMMT have called for a three-year delay to implementing the rules of origin. The European Automobile Manufacturers' Association (ACEA) has said the rules could cost carmakers up to 4.3 billion euros ($4.53 billion) in tariffs and hit output. In June, Stefan Fuehring, a European Commission official overseeing the post-Brexit EU-UK trade agreement, said the EU rules of origin were "fit for purpose" and that the bloc was not considering changing them.

Persons: Gonzalo Fuentes, Mike Hawes, Stellantis, Stefan Fuehring, Nick Carey, Bernadette Baum Organizations: Groupe PSA, REUTERS, The Society of Motor Manufacturers, Traders, EU, European Union, Ford, European Automobile Manufacturers ' Association, European Commission, Thomson Locations: Paris, France, Britain, Europe, British, EU

☆ Tesla urges US to adopt much tougher fuel efficiency rules
▼ + stars: | 2023-10-17 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

REUTERS/Victoria Klesty/File Photo Acquire Licensing RightsWASHINGTON, Oct 17 (Reuters) - Electric vehicle manufacturer Tesla (TSLA.O) on Tuesday urged the Biden administration to finalize much tougher fuel economy standards through 2032 than U.S. regulators have proposed. The National Highway Traffic Safety Administration (NHTSA) in July proposed raising Corporate Average Fuel Economy (CAFE) car requirements by 2% and by 4% for trucks and SUVs annually between 2027 and 2032. The NHTSA's proposal would result in a fleet-wide average fuel efficiency of 58 miles (93 km) per gallon by 2032. On Monday a group representing General Motors (GM.N), Toyota Motor (7203.T), Volkswagen (VOWG_p.DE) and nearly all other major automakers sharply criticized NHTSA's proposal, saying it is unreasonable and requested significant revisions. U.S. automakers separately have warned the fines would cost GM $6.5 billion, Stellantis $3.1 billion and Ford $1 billion, citing NHTSA's projections.

Persons: Biden, Tesla, David Shepardson, Jason Neely Organizations: REUTERS, Rights, Traffic Safety Administration, General Motors, Toyota, Volkswagen, American Automotive Policy Council, Detroit Three, NHTSA, Ford, GM, Chrysler, Alliance, Automotive Innovation, U.S, Energy, Thomson Locations: Oslo, Norway, Victoria, NHTSA's

☆ Automakers blast US plan to hike fuel efficiency rules
▼ + stars: | 2023-10-16 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

The Alliance for Automotive Innovation said the National Highway Traffic Safety Administration's (NHTSA) Corporate Average Fuel Economy (CAFE) proposal was unreasonable and requested significant revisions. The auto alliance said last month automakers would face more than $14 billion in non-compliance penalties between 2027 and 2032. Automakers also raised alarm at the Energy Department's proposal to significantly revise how it calculates the petroleum-equivalent fuel economy rating for EVs in NHTSA's CAFE program, saying it would "devalue the fuel economy of electric vehicles by 72%." GM said on Monday it could support NHTSA's proposal if the Energy Department rescinded its petroleum-equivalent proposal. Automakers and the United Auto Workers union have previously also complained parallel rules proposed by the Environmental Protection Agency are not feasible and should be significantly softened.

Persons: Jorge Duenes, Biden, David Shepardson, Jamie Freed Organizations: Toyota Motor Manufacturing, REUTERS, Rights, General Motors, Toyota, Volkswagen, Alliance, Automotive Innovation, NHTSA, American Automotive Policy Council, Detroit Three, Ford, GM, Chrysler, U.S, Energy, Energy Department, Subaru, United Auto Workers, Environmental Protection Agency, Thomson Locations: Baja California, Tijuana, Mexico, NHTSA's, KS

[1/5] Bill Ford, executive chairman of Ford Motor Company, speaks at their Rouge Visitor Center in Dearborn, Michigan, U.S. October 16, 2023. "We can stop this now," Ford said of the strike that expanded last week to shut down the Kentucky Truck plant. The UAW's walkout at Kentucky Truck, Ford's largest and most profitable assembly operation globally, "harms tens of thousands of American workers," Ford said. On Friday, UAW President Shawn Fain accused Ford of trying to game the talks with inadequate offers and insisted Ford sharply boost compensation. On Thursday, a senior Ford executive said the automaker was "at the limit" of what it can spend on higher wages and benefits for the UAW.

Persons: Bill Ford, Jeff Kowalsky, Ford, Henry Ford, Shawn Fain, Jim Farley's, Fain, Farley, Harley Shaiken, Stellantis, Joseph White, David Shepardson, Ben Klayman, Franklin Paul, Grant McCool, David Gregorio Our Organizations: Ford Motor Company, Rouge Visitor, Ford Motor Co, REUTERS, Acquire, Rights, Monday, United Auto Workers, UAW, Ford, General Motors, Chrysler, Toyota, Honda, Kentucky, University of California, GM, Thomson Locations: Dearborn , Michigan, U.S, Rights DEARBORN , Michigan, Kentucky, University of California Berkeley, Dearborn

GM will report third-quarter results Oct. 24, with Ford following on Oct. 26. The strikes have costing GM and Ford more than $500 million, JP Morgan analyst Ryan Brinkman estimated in a note Monday. Ford is now losing $44 million a day, while GM is losing $21 million a day, Brinkman estimated. GM and Ford shares have fallen sharply since July as the standoff with the UAW has intensified. GM has set up a new, $6 billion credit line as insurance against an expanded UAW strike.

Persons: Rebecca Cook, Morgan Stanley, Adam Jonas, Morgan, Ryan Brinkman, Ford, Brinkman, Shawn Fain, Fain, Mich, Farley, Tim Piechowski, Joe White, David Evans Organizations: Rouge Electric Vehicle, REUTERS, Rights, General Motors, Ford, United Auto Workers, GM, Ford's, Kentucky, Detroit, EV, UAW, Capital Research, Investments, Thomson Locations: Dearborn , Michigan, U.S, Ford's Kentucky, Marshall

[1/5] Bill Ford, executive chairman of Ford Motor Company, speaks at their Rouge Visitor Center in Dearborn, Michigan, U.S. October 16, 2023. "We can stop this now," Ford said of the strike that expanded last week to shut down the Kentucky plant. UAW President Shawn Fain replied with a statement warning Ford that the union could "close the Rouge" with a strike. The UAW's walkout at Kentucky Truck, Ford's largest and most profitable assembly operation globally, "harms tens of thousands of American workers," Ford said. On Friday, Fain accused Ford of trying to game the talks with inadequate offers and insisted Ford sharply boost compensation.

Persons: Bill Ford, Jeff Kowalsky, Ford, Shawn Fain, Fain, We’ve, Henry Ford, Jim Farley, Harley Shaiken, Shaiken, Stellantis, Joseph White, David Shepardson, Ben Klayman, Franklin Paul, David Gregorio, Grant McCool Organizations: Ford Motor Company, Rouge Visitor, Ford Motor Co, REUTERS, Acquire, Rights, Monday, United Auto Workers, UAW, Ford, General Motors, Chrysler, Detroit Three, Anderson Economic Group, AEG, Toyota, Honda, U.S, Kentucky, University of California, GM, Thomson Locations: Dearborn , Michigan, U.S, Rights DEARBORN , Michigan, Kentucky, American, Stellantis, East Lansing , Michigan, University of California Berkeley, Dearborn

☆ Albemarle pushed into corner, dumps $4.2 billion lithium play for Liontown
▼ + stars: | 2023-10-15 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Ernest Scheyder/File Photo Acquire Licensing RightsMELBOURNE, Oct 16 (Reuters) - U.S.-based miner Albemarle (ALB.N) said it had dumped a A$6.6 billion ($4.16 billion) buyout bid for Australian lithium developer Liontown Resources (LTR.AX), in part because of "growing complexities" around the transaction. Liontown went into trading halt just after making the announcement to the market, pending a finalisation of funding for its flagship Kathleen Valley lithium project in Western Australia, which is due to start producing lithium next year. Liontown had last week granted the world's biggest lithium chemical maker an extra week to examine its books and allow Albemarle to put forward a binding offer. "Our engagement with the Liontown team has been meaningful and productive. Hancock has not yet approached Liontown which until now has been under an exclusivity deal with Albemarle, the source added.

Persons: Ernest Scheyder, Albemarle, Hancock, Gina Rinehart, Liontown, Kathleen Valley, Kent Masters, Melanie Burton, Scott Murdoch, Rishav Chatterjee, Lisa Shumaker, Sandra Maler, Jamie Freed Organizations: REUTERS, Rights, Liontown Resources, Ford Motor, LG Energy, Thomson Locations: Silver, , Nevada, U.S, Albemarle, Western Australia, Melbourne, Sydney, Bengaluru

☆ Canadian autoworkers union Unifor ratifies GM labor deal
▼ + stars: | 2023-10-15 | by ( ) www.reuters.com time to read: +2 min

The Canadian union, which represents about 4,300 workers at GM in these talks, said 80.5% of its members at facilities in Oshawa, St. Catharines and Woodstock voted in favor of the deal. The deal with GM followed the pattern set with Ford Motor (F.N), which settled with Unifor last month. In the United States, about 9,200 members of the United Auto Workers (UAW) union have affected two GM assembly plants and 18 parts distribution centers. GM also has furloughed about 2,300 U.S. workers due to the impact of the UAW strike. Unifor has used the "pattern bargaining" approach in its talks, reaching a deal first with Ford and then picking GM as the second bargaining target.

Persons: Claude Robitaille, Unifor, Shivansh Tiwary, Nathan Gomes, Mrinmay Dey, Ben Klayman, Matthew Lewis, Diane Craft, Sandra Maler Organizations: Chevrolet Silverado, General, REUTERS, General Motors, Canadian, GM, Woodstock, Ford Motor, United Auto Workers, UAW, Ford, Chrysler, Thomson Locations: Oshawa, Oshawa , Ontario, Canada, United States, St, Catharines, Ingersoll , Ontario, Bengaluru

☆ UAW says had to escalate action on Ford
▼ + stars: | 2023-10-14 | by ( ) www.reuters.com time to read: 1 min

United Auto Workers (UAW) union members picket outside Ford's Kentucky truck plant after going on strike in Louisville, Kentucky, U.S. October 12, 2023. REUTERS/Luke Sharrett Acquire Licensing RightsCompanies Ford Motor Co FollowOct 14 (Reuters) - The United Auto Workers said on Saturday they had to escalate action against Ford (F.N) as they expected a revised offer from the automaker but were given the same offer as two weeks ago. "Unfortunately, we had to escalate our action. We came here today to get another offer from Ford, and they gave us the same exact offer as two weeks ago," the union said in a post on X. It was not immediately clear what the escalation action was.

Persons: Luke Sharrett, Maria Ponnezhath, Franklin Paul Organizations: United Auto Workers, UAW, REUTERS, Ford, Franklin Paul Our, Thomson Locations: Ford's Kentucky, Louisville , Kentucky, U.S, Bengaluru

☆ Stellantis, Ford furlough another 1,250 workers because of UAW strike
▼ + stars: | 2023-10-14 | by ( David Shepardson | ) www.reuters.com time to read: +1 min

The Stellantis logo is seen during the New York International Auto Show, in Manhattan, New York City, U.S., April 5, 2023. REUTERS/David 'Dee' Delgado/File Photo Acquire Licensing RightsOct 13 (Reuters) - Chrysler-parent Stellantis (STLAM.MI) and Ford Motor (F.N) said on Friday they will temporarily lay off 1,250 employees due to the impact of the United Auto Workers strike. Ford said it is temporarily laying off another 550 employees after the UAW walkouts at its Kentucky Truck Plant and Chicago Assembly Plant. Ford has warned that a dozen facilities could be impacted by the strike of the Kentucky Truck plant, its largest factory worldwide. Just over 34,000 UAW workers at the Detroit Three are on strike.

Persons: David, Dee, Delgado, Stellantis, Ford, David Shepardson, Chris Reese, Sandra Maler Organizations: New York, REUTERS, Chrysler, Ford, United Auto Workers, UAW, Plant, Chicago Assembly Plant, Detroit, General Motors, Thomson Locations: Manhattan , New York City, U.S, Indiana, Chicago, Ohio, Michigan, Kentucky

☆ Ford to temporarily cut one shift at Michigan EV plant
▼ + stars: | 2023-10-13 | by ( David Shepardson | ) www.reuters.com time to read: +1 min

A newly remodeled Ford F250 Super Duty truck is displayed at the new Louisville Ford truck plant in Louisville, Kentucky, U.S. September 30, 2016. REUTERS/Bryan Woolston/File Photo Acquire Licensing RightsOct 13 (Reuters) - Ford Motor (F.N) said on Friday it will temporarily cut one of three shifts at the Michigan plant that builds its electric F-150 lightning pickup truck, citing multiple constraints, including supply chain issues. It said it will rotate the shift that is being cut, and did not say how long the production cut would last. Ford said it was "working through processing and delivering vehicles held for quality checks after restarting production in August." F-150 EVs account for about 2% of all Ford F-series sales.

Persons: Bryan Woolston, Ford, David Shepardson, Washington Shivansh, Maju Samuel, David Gregorio Our Organizations: Ford, Super, Louisville Ford, REUTERS, United Auto Workers, Street, UAW, Thomson Locations: Louisville , Kentucky, U.S, Michigan, Washington, Bengaluru

Oct 13 (Reuters) - A union coalition for Kaiser Permanente healthcare workers reached a tentative labor deal with the hospital system on Friday that included across-the-board wage increases after 75,000 members took part in a three-day strike last week. The strike was the largest recorded among medical workers and included nurses, medical technicians and support staff at hundreds of Kaiser hospitals and clinics from California to Virginia. "I’m heartened to see healthcare workers and their employers take this critical step towards securing the pay, benefits, and working conditions these heroes deserve," President Joe Biden said in a statement. The Kaiser union coalition had threatened to strike again for a week starting Nov. 1. The union had said Kaiser would need to hire 10,000 new healthcare workers to fill current vacancies.

Persons: Julie Su, Biden, Joe Biden, Kaiser, Su, Manas Mishra, Leroy Leo, Steve Gorman, Arun Koyyur, Shinjini, Maju Samuel, Jonathan Oatis Organizations: Kaiser Permanente, Labor, Tenet Healthcare, District of Columbia, Writers Guild of America, United Auto Workers, Detroit, Thomson Locations: California, Virginia, San Francisco Bay, Bengaluru, Los Angeles

[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

[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. ET (1400 GMT) with fallout still raining down from his surprise decision on Wednesday to strike Ford Motor's (F.N) Kentucky truck plant, the automaker's largest and most profitable operation worldwide. Last Friday, Fain said if needed, the UAW would strike the GM assembly plant in Arlington, Texas, that builds the Cadillac Escalade, Chevy Suburban and other large, high-priced SUVs. GM's Flint, Michigan, heavy-duty truck assembly plant is another potential strike target. It is in discussions with GM about the parameters of a deal to include battery plant workers under a master labor agreement.

Persons: Luke Sharrett, Shawn Fain, Fain, Ford, Kumar Galhotra, Todd Dunn, who've, Dunn, Galhotra, David Shepardson, Joe White, Jamie Freed Organizations: United Auto Workers, UAW, REUTERS, Rights, Detroit Three, Reuters, Chrysler, General Motors, Ford, GM, Ford Bronco, EV, Reuters Graphics Reuters, Thomson Locations: Ford's Kentucky, Louisville , Kentucky, U.S, F.N, Kentucky, Louisville, Arlington , Texas, Flint , Michigan, Ford's Michigan, Washington, Detroit

☆ Barclays appoints Geoffrey Belsher as new Canada CEO
▼ + stars: | 2023-10-13 | by ( ) www.reuters.com time to read: +1 min

Barclays Bank logo is seen in this illustration taken March 12, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsOct 13 (Reuters) - Barclays (BARC.L) on Friday named investment banking veteran Geoffrey Belsher as chairman and country chief executive officer for Canada, effective Oct. 16. Belsher has previously held senior role in Canadian Imperial Bank of Commerce (CM.TO). He was also the president of Canadian operations of Barclays Capital and its predecessor Lehman Brothers Canada, according to the company's statement. Belsher would be based in Toronto and report to CEO of Americas Richard Haworth and the global co-heads of investment banking Cathal Deasy and Taylor Wright.

Persons: Dado Ruvic, Geoffrey Belsher, Belsher, Richard Haworth, Cathal Deasy, Taylor Wright, Bruce Rothney, Pritam Biswas, Shilpi Majumdar Organizations: Barclays Bank, REUTERS, Barclays, Canadian Imperial Bank of Commerce, Barclays Capital, Lehman Brothers Canada, Citigroup, Jefferies Financial, Reuters, Thomson Locations: Canada, Toronto, U.S, Bengaluru

Oct 13 (Reuters) - Kaiser Permanente's frontline healthcare workers union reached a tentative deal with the company on Friday, moving toward settling a payment and staffing dispute that had sparked the largest recorded strike in the U.S. medical sector. The strike by 75,000 workers last week had put Kaiser at the forefront of a growing labor unrest in the healthcare industry, including among employees of pharmacies and other hospital chains like Tenet Healthcare (THC.N). "What they've achieved here in Oakland (San Francisco Bay Area) is great news for frontline workers, for Kaiser and the patients in their collective care," Su said. Spokespersons for Kaiser Permanente and its coalition of healthcare workers unions said they would provide further details on the agreement later in the day. Kaiser is one of the largest U.S. medical employers with 24,000 doctors, 68,000 nurses, 213,000 technicians, clerical workers and administrative staff.

Persons: Kaiser, Julie Su, Su, Kaiser Permanente, Manas Mishra, Leroy Leo, Steve Gorman, Shounak Dasgupta, Sriraj Kalluvila, Arun Koyyur Organizations: Tenet Healthcare, Labor, Kaiser Permanente, District of Columbia, United Auto Workers, Detroit, U.S . Bureau of Labor Statistics, Thomson Locations: U.S, San Francisco Bay, Oakland, Bengaluru, Los Angeles

After the data, the S&P 500 spent the morning zig-zagging between red and green. U.S. benchmark 10-year yields rose after the inflation data and rose further to hit a session high after the auction. The rise in yields particularly pressured rate-sensitive sectors such as utilities (.SPLRCU) and real estate (.SPLRCR), often viewed as bond proxies. Homebuilding stocks fell after the data and came under more pressure after the afternoon increase in bond yields. Traders now expect a stronger chance the Fed will end up delivering another interest-rate hike this year, and keep rates higher for longer next year.

Persons: Brendan McDermid, Treasuries, Michael James, James, Susan Collins, Israel, Sinéad Carew, Amruta, Shashwat Chauhan, Ankika Biswas, Johann M Cherian, Arun Koyyur, Shounak Dasgupta, Maju Samuel, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, U.S, Treasury, Wedbush Securities, Nasdaq, Dow Jones, Traders, Boston, Market, JPMorgan Chase, Citigroup, Ford, United Auto Workers, UAW, Thomson Locations: New York City, U.S, Los Angeles, Gaza, Wells Fargo, New York, Bengaluru

☆ Surging rents lift US consumer prices; underlying inflation grinding lower
▼ + stars: | 2023-10-12 | by ( Lucia Mutikani | ) www.reuters.com time to read: +7 min

The so-called core CPI was also lifted by a 3.7% rise in the cost of lodging away from home, which ended three straight monthly declines. The core CPI gained 4.1% on a year-on-year basis in September, the smallest rise since September 2021, after advancing 4.3% in August. Over the last three months, the core CPI increased 3.1%. Still-strong demand in the economy, marked by labor market tightness, which is driving core services inflation excluding rents, imply that the higher rates could last for some time. Reuters GraphicsThere is no sign yet that the United Auto Workers (UAW)strike, now in its fourth week, is having a major impact on the labor market.

Persons: Olu Sonola, Stephen Juneau, Bing Guan, Seema Shah, Lucia Mutikani, Paul Simao Organizations: Federal Reserve, Labor Department, Higher U.S, Treasury, Fitch, CPI, Reuters, Bank of America Securities, Mobil, REUTERS, Fed, Financial, United Auto Workers, UAW, Ford, General Motors, Chrysler, Asset Management, Thomson Locations: WASHINGTON, U.S, New York, Beverly Boulevard, West Hollywood , California

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