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☆ New York Knicks parent company to see strong earnings thanks to NBA playoff run, Bank of America says
▼ + stars: | 2024-05-08 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Slam dunk seasons from the New York Knicks and Rangers should bode well for parent company Madison Square Garden Entertainment , according to Bank of America. While a playoff run may bode well for shares, Madison Square Garden Entertainment could potentially reap an even bigger reward if the teams make it to the championship. This is because a partial playoff run may be accounted for in the forecast but not a longer bid for a championship, Henderson said. MSGE YTD mountain Madison Square Garden Entertainment shares year to date. "We believe MSGE presents an attractive opportunity to own a growth-oriented, pure-play live entertainment company."

Persons: bode, Peter Henderson, Jalen Brunson, Henderson Organizations: New York Knicks, Rangers, Garden Entertainment, Bank of America, Knicks, Radio Locations: Madison

☆ Hyundai, Kia see strong demand for EVs, despite rivals' concerns
▼ + stars: | 2023-11-17 | by ( Abhirup Roy | ) www.reuters.com time to read: +4 min

REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsLOS ANGELES, Nov 17 (Reuters) - Hyundai Motor (005380.KS) and Kia (000270.KS) see strong U.S. demand for electric vehicles (EVs), senior executives at the South Korean automakers told Reuters ahead of the Los Angeles Auto Show. The comments run against industry fears that inflation and higher interest rates will undermine the boom in EV sales. Inflation and high interest rates have raised the costs of buying a car. The cuts helped drive EV sales in the third quarter up 50% from a year earlier to a record of more than 300,000 vehicles. Reporting by Abhirup Roy in Los Angeles; Editing by Peter Henderson and Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

Persons: Andrew Kelly, Jose Munoz, Hyundai's, Munoz, Steven Center, we'll, Elon Musk, Spencer Imel, Langston, Subaru's, Atsushi Osaki, Abhirup Roy, Peter Henderson, Matthew Lewis Organizations: Hyundai Kona, New York, REUTERS, Hyundai, Kia, South Korean, Los Angeles Auto, Tesla, Ford Motor, EV, Kia America, Cox Automotive, General Motors, Ford, Langston Co, Reuters, Thomson Locations: Manhattan , New York City, U.S, KS, Los Angeles, Savannah ( Georgia, United States, Swedish

SAN FRANCISCO, Nov 16 (Reuters) - San Francisco police began arresting protesters calling for a ceasefire in the Israel-Hamas war on Thursday after demonstrations blocked the Bay Bridge, a key commuter route into the city which is hosting the Asia Pacific Economic Cooperation (APEC) forum. Authorities also deployed tow trucks to remove protesters' vehicles blocking the bridge. Local emergency services warned of the blockage during morning rush hour on the bridge which links Oakland and other East Bay cities to San Francisco. Traffic traveling on the bridge toward San Francisco began to move as of about 10:45 a.m. local time (1845 GMT) after a backup. “It is a good idea because they are against a war but I think they should be more safe and protest in the city, not the bridge,” Felix said.

Persons: Claudia Felix, Felix, ” Felix, Max A, Peter Henderson, Omar Younis, Sandra Stojanovic, Mary Milliken, Chizu Nomiyama, Josie Kao Organizations: FRANCISCO, San Francisco, Asia Pacific Economic Cooperation, California, Patrol, Authorities, Palestinian Youth Movement, Palestine Solidarity, Thomson Locations: Israel, U.S, Oakland, San Francisco, Bay, Stockton

[1/3] Lucid’s Gravity electric SUV is seen in a preview at Lucid’s headquarters in Newark, California, U.S. November 3, 2023. Success of the Gravity, which was unveiled in Los Angeles ahead of the auto show opening on Friday, will be crucial for Lucid. To stoke demand, EV makers have joined a price war sparked this year by market leader Tesla (TSLA.O). Many, including Tesla, Ford (F.N) and General Motors (GM.N), have pushed back planned EV and battery factory expansion or additions. That will be key for the full-size luxury Gravity SUV, which features a steering wheel that is more square than round and a 34-inch curved cockpit display.

Persons: Abhirup Roy, Peter Rawlinson, Rawlinson, Tesla, Peter Henderson, Sherry Jacob, Phillips Organizations: REUTERS, Air, U.S, Rivian's, Lucid's, Reuters, stoke, EV, General Motors, Thomson Locations: Newark , California, U.S, Los Angeles, San Francisco

These are then smuggled into the United States, the officials say. Last month, the United States imposed sanctions on 28 people and entities involved with the international proliferation of illicit drugs, including a large China-based network. Biden is also due to meet with Mexican President Andres Manuel Lopez Obrador in San Francisco. In San Francisco, state and local officials have tried to clean up drugs from the city's streets, with limited success. "We know San Francisco - and cities across the United States - will benefit from more targeting of the trafficking and production of fentanyl worldwide," a spokesperson for Breed said in a statement.

Persons: Joe Biden, Xi Jinping, Biden, Xi, Mike Odeh, Jake Sullivan, Washington, General Merrick Garland, Andres Manuel Lopez Obrador, Alicia Barcena, Brooke Jenkins, Mayor London Breed, Breed, Michael Martina, Sayantani Ghosh, Michelle Nichols, Josie Kao Organizations: Customs, Port, U.S . Customs, FRANCISCO, U.S, Economic Cooperation, United, city's, APEC, U.S . Centers for Disease Control, Prevention, . National, Washington, Biden, Institute of Forensic Science, China's Ministry of Public Security, Commerce, San Francisco . Mexican Foreign, Mayor London, Thomson Locations: Arizona, Mexico, Nogales , Arizona, U.S, Asia, Pacific, San Francisco, United States, China, CHINA, MEXICO, Washington, San Francisco . Mexican, Francisco's

The Transamerica Pyramid building is seen as tourists ride a cable car in downtown San Francisco, California, U.S., July 7, 2023. San Francisco has been waging for years a multi-pronged war on drugs and related crime, homelessness and unaffordable housing. "They do this for the Superbowl, they do this for conferences ... but nothing ends homelessness like a home," Boden said. The city has a homelessness rate of 887 people per 100,000 residents, according to a 2023 report from the San Francisco controller's office on 16 American cities. Reporting by Peter Henderson and Anna Tong in San Francisco; Editing by Sayantani Ghosh and Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

Persons: Carlos Barria, Joe Biden's, Christopher Crandall, he'd, He'd, Gavin Newsom, Biden, China's Xi, Paul Boden, " Boden, Tesla, Elon Musk, Trevor Chandler, I’ve, Peter Henderson, Anna Tong, Sayantani Ghosh, Stephen Coates Organizations: REUTERS, FRANCISCO, Economic Cooperation, United Nations, Police, APEC, Western Regional Advocacy, San, Fox News, Twitter, Thomson Locations: San Francisco , California, U.S, Asia, San Francisco, California, Francisco, Oakland, Los Angeles

[1/5] Protesters taunt people in suit, during a rally in opposition to the Asia-Pacific Economic Cooperation (APEC) CEO Summit in San Francisco, California, U.S. November 15, 2023. REUTERS/Loren Elliott Acquire Licensing RightsSAN FRANCISCO, Nov 15 (Reuters) - Protesters took to the streets of San Francisco early on Wednesday morning ahead of a meeting between U.S. President Joe Biden and Chinese President Xi Jinping, obstructing some entrances to the APEC conference. Global leaders and CEOs of major U.S. corporations will all be at the Asia Pacific Economic Cooperation (APEC) forum in San Francisco, offering tempting targets to protest. Protesters supporting spiritual group Falun Gong, which is banned in China, lined motorcade entry points into the convention center area. Supporters of China also turned out near where Biden and Xi will meet, waving Chinese and U.S. flags as well as posters with both flags together.

Persons: Loren Elliott, Joe Biden, Xi Jinping, Biden, Pema Doma, Xi, ”, Gong, Xi's, Ann Saphir, Peter Henderson, Josie Kao Organizations: Economic Cooperation, REUTERS, FRANCISCO, APEC, Global, Asia Pacific Economic Cooperation, Police, Chinese Communist Party, U.S . Department of Homeland Security, U.S, Secret Service, Thomson Locations: Asia, San Francisco , California, U.S, San Francisco, Israel, Tibet, United States, China, Francisco

SAN FRANCISCO, Nov 12 (Reuters) - A lively crowd gathered on a sunny Sunday in San Francisco to protest a meeting of cross-Pacific political leaders and a wide spectrum of other issues, prominently including those calling for a ceasefire in the Israel-Hamas war. The home of 1960s counterculture, San Francisco has retained an anti-authoritarian sensibility even as tech companies and employees have made the city a global influencer. The action could become confrontational on Wednesday, with protesters calling to block attendees from entering the San Francisco conference center. San Francisco is recovering from the COVID-19 pandemic slower than many cities, with some major retailers abandoning Market Street. San Francisco tourism is much reduced from pre-pandemic levels, according to data from hotel analytics firm STR published in June.

Persons: Joe Biden, Xi Jinping, Biden, Roberto Ruiz, Sarah R, Marty Brewer, Ann Saphir, Matt McKnight, Peter Henderson, Grant McCool Organizations: FRANCISCO, Pacific, Protesters, Economic Cooperation, Police, APEC, San, Market, Geoscience, Thomson Locations: San Francisco, Israel, Francisco's, Asia, Francisco, Gaza

☆ APEC San Francisco Protesters Span Gamut of Political Issues
▼ + stars: | 2023-11-12 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +2 min

By Ann Saphir and Matt McKnightSAN FRANCISCO (Reuters) - A lively crowd gathered on a sunny Sunday in San Francisco to protest a meeting of cross-Pacific political leaders and a wide spectrum of other issues, prominently including those calling for a ceasefire in the Israel-Hamas war. The home of 1960s counterculture, San Francisco has retained an anti-authoritarian sensibility even as tech companies and employees have made the city a global influencer. The action could become confrontational on Wednesday, with protesters calling to block attendees from entering the San Francisco conference center. San Francisco is recovering from the COVID-19 pandemic slower than many cities, with some major retailers abandoning Market Street. San Francisco tourism is much reduced from pre-pandemic levels, according to data from hotel analytics firm STR published in June.

Persons: Ann Saphir, Matt McKnight, Joe Biden, Xi Jinping, Biden, Roberto Ruiz, Sarah R, Marty Brewer, Peter Henderson, Grant McCool Organizations: FRANCISCO, Reuters, Pacific, Protesters, Economic Cooperation, Police, APEC, San, Market, Geoscience Locations: San Francisco, Israel, Francisco's, Asia, Francisco, Gaza

☆ Climate tech company Heirloom opens US commercial carbon capture plant
▼ + stars: | 2023-11-09 | by ( Peter Henderson | ) www.reuters.com time to read: +2 min

A piece of equipment called a distributor used to hold trays of limestone for capturing carbon is seen at the Heirloom Carbon Technologies facility in Brisbane, California, U.S. February 1, 2023. Direct Air Capture such as that used by Heirloom can secure the CO2, but it is not yet clear whether it can do so at a price that makes the technology practical. The new facility, which uses crushed limestone to capture 1,000 tonnes a year, is part of a ramp up that Heirloom says will cut costs. Current industry prices for carbon removal by direct air capture are around $600-$1,000 a tonne, one person familiar with the situation said. The Department of Energy is spending billions in grants to built Direct Air Capture demonstration hubs.

Persons: Nathan Frandino, Energy Jennifer Granholm, Peter Henderson, Marguerita Choy Organizations: REUTERS, U.S, Energy, Department of Energy, Occidental Petroleum, BlackRock Inc, Thomson Locations: Brisbane , California, U.S, California, San Francisco Bay, Tracy , California, Occidental's West Texas

Toy figures of people are seen in front of the displayed Disney + logo, in this illustration taken January 20, 2022. For the fiscal fourth quarter ended Sept. 30, Disney reported adjusted per-share earnings of 82 cents, topping an average forecast of 70 cents, according to LSEG data. The company said it added nearly 7 million Disney+ streaming subscribers in the quarter, with the inclusion of "Guardians of the Galaxy Vol. Disney+ and Disney+ Hotstar together boast 150.2 million subscribers, ahead of Visible Alpha's estimate of 147.4 million. "Our results this quarter reflect the significant progress we've made over the past year," Iger said in a statement.

Persons: Dado Ruvic, Walt Disney, Bob, Kevin Lansberry, Iger, Disney, Nelson Peltz, Trian, Paolo Pescatore, Paul Verna, Verna, We've, Dawn Chmielewski, Lisa Richwine, Chavi Mehta, Peter Henderson, Sayantani Ghosh, Matthew Lewis Organizations: REUTERS, ABC, Disney, Guardians, Trian, Management, Warner Bros Discovery, SAG, Insider Intelligence, Hulu, ESPN, Shanghai Disney, Walt Disney, Disney's Entertainment, Star, Big Ten, Thomson Locations: Shanghai, Hong Kong, Florida, India, Los Angeles, Bengaluru

☆ Amazon cuts jobs in music streaming unit
▼ + stars: | 2023-11-08 | by ( Greg Bensinger | Thomson Reuters | Greg Bensinger Joined Reuters As A Technology Correspondent In Focusing On The World'S Largest Technology Companies. He Was Previously A Member Of The New York Times Editorial Board | ) www.reuters.com time to read: +2 min

The logo of Amazon is seen on the door of an Amazon Books retail store in New York City, U.S., February 14, 2019. Employees in Latin America, North America and Europe received notices that their jobs had been eliminated Wednesday, according to people familiar with the matter. “Some roles have been eliminated on the Amazon Music team. Amazon has been quietly trimming jobs, including communications staff in its Studios, Video and Music divisions last month. Amazon Music, which also includes podcasts, competes with Spotify , Pandora, Alphabet’s (GOOGL.O) Google and Apple (AAPL.O) in offering unlimited music streaming services for a fee.

Persons: Brendan McDermid, Greg Bensinger, Peter Henderson, Lisa Shumaker Organizations: Amazon, REUTERS, Employees, Reuters, Amazon Music, Studios, Spotify, Google, Apple, Thomson Locations: New York City, U.S, Latin America, North America, Europe, Washington, California, New York

☆ How the UAW's drive to 'end tiers' will change GM
▼ + stars: | 2023-11-03 | by ( ) www.reuters.com time to read: +3 min

The tentative 4-1/2 year deal will pull more than 7,000 UAW workers in GM component plants, service parts warehouses and what GM calls "subsystems" operations up to the higher wage levels paid to assembly plant workers. As at Ford and Stellantis, GM will raise pay for temporary workers and give them a faster path to full-time status and wages. Eliminating tiers of lower-paid UAW workers at the Detroit Three was a top priority for Fain and UAW bargainers. Fain and UAW members would often wear red t-shirts printed with the slogan "End Tiers" at rallies and on picket lines. GM "has been the worst actor" in creating tiers of lower-wage UAW employees within its operations, Booth said in an Oct. 20 video address.

Persons: Shawn Fain, Rebecca Cook, Shawn Fain's, Fain, Mike Booth, Booth, Joe White, Peter Henderson, Josie Kao Organizations: United Auto Workers, REUTERS, Rights DETROIT, General Motors, UAW, GM, Workers, Holdings, Ford, Tesla, Detroit, automaker . Workers, Thomson Locations: Detroit , Michigan, U.S, , Ohio, Stellantis .

Apple shares, which have risen 37% so far this year, dropped 3.4% after-hours, following the forecast. Maestri said Apple expects to have higher iPhone sales for the fiscal first quarter, even though this year's holiday quarter has one fewer week of sales than the year-ago. Cook said the company's new high-end handset models - the iPhone 15 Pro and Pro Max devices - are facing supply constraints. Apple's sales in China fell to $15.08 billion from $15.47 billion in the fourth quarter a year ago. Cook said that after accounting for foreign-exchange rates, Apple's business in China grew year-over-year, driven by iPhone sales and services revenue.

Persons: Tim Cook, Apple, Cook, Luca Maestri, Bob O'Donnell, Davidson, Tom Forte, Aly, Max, Nabila Popal, Lionel Messi, Stephen Nellis, Yuvraj Malik, Sayantani Ghosh, Peter Henderson, Matthew Lewis, Leslie Adler Organizations: Huawei, Apple, TECHnalysis Research, Mac, REUTERS, Huawei Technologies, U.S, Reuters, Pro, Apple Watch, Thomson Locations: China, Cupertino , California, Shanghai, San Francisco, Bengaluru

SummaryCompanies Funding round led by Just ClimateMetal-light motor 10% to 65% more efficientAims to produce 150,000 motors by end of 2024SAN FRANCISCO, Nov 1 (Reuters) - Climate technology firm Infinitum, which develops high efficiency industrial motors, said on Wednesday it had raised $185 million in a funding round led by venture capital investor Just Climate. The Infinitum motors can also work at variable speeds, helping account for a drop in energy consumption of about 10% to 65%, and the motors are relatively easy to fix and recycle, Schuler said. Just Climate Investment Partner Benoit Grobon said about half of the power from electric generation in the world goes into electric motors, and increasing their efficiency would save a lot of energy. Moreover, electric motors used as generators could make windmills more efficient and improve the range of electric cars, he added. Reporting by Simon Jessop and Peter Henderson; Editing by Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

Persons: Ben Schuler, Schuler, Benoit Grobon, PwC, Simon Jessop, Peter Henderson, Jamie Freed Organizations: FRANCISCO, Reuters, Climate, Thomson Locations: Dubai, Monterrey, Mexico, Texas

☆ Highlights of UAW deal with Ford
▼ + stars: | 2023-10-30 | by ( ) www.reuters.com time to read: +1 min

A United Auto Workers On Strike sign is seen outside the Ford Michigan Assembly Plant in Wayne, Michigan U.S. October 25, 2023. The following are issues highlighted by UAW leaders:* Ford will invest $8.1 billion in renovating factories and adding new models. * Raises of 33% or more for many workers over the life of the contract, including cost-of-living adjustments that push up wages in line with inflation. At the top end, workers will see an extra $70,000 in pay over the contract. * Lowest-paid temporary workers could see wages rise 150%* Pathway for battery and electric vehicle plants to come under the union agreement at commensurate pay rates.

Persons: Rebecca Cook, David Shepardson, Joseph White, Peter Henderson, Jamie Freed Organizations: United Auto Workers, Ford Michigan Assembly Plant, Wayne , Michigan U.S, REUTERS, Ford Motor, UAW, Ford, Thomson Locations: Wayne , Michigan

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

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

A public deal announcement with Stellantis is expected later Saturday afternoon or early evening, the sources said. Stellantis shuttered its assembly plant in Belvidere, Illinois, early this year, leaving 1,300 workers without jobs. The tentative contract deal will have provisions on the use of temporary workers, the sources said, adding Stellantis has agreed to significant investment. Fain and other senior union leaders are briefing local UAW chiefs by video conference, the sources said. The deal is also expected to include investments in other U.S. plants, including the Trenton engine plant, the sources said.

Persons: Stellantis, Shawn Fain, Biden, Fain, Tesla, Ford, Joe Biden, David Shepardson, Joseph White, Sayantani Ghosh, David Gregorio, Peter Henderson Organizations: United Auto Workers, Chrysler, Detroit Three, UAW, Ford, GM, Detroit, Detroit automakers, EV, Toyota, Kentucky, Korean, buildouts, U.S, Republican, Thomson Locations: Belvidere , Illinois, Illinois, U.S, Trenton, Detroit, Arlington , Texas, Tahoe, Sterling Heights , Michigan, Hollywood, Michigan

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

☆ 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

[1/2] 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. Total economic losses from the auto workers' strike have reached $9.3 billon, the Anderson Economic Group said earlier this week. Getting the deal ratified will be up to Fain and UAW leaders, and that is not assured. UAW workers at the company now called Stellantis rejected a proposal endorsed by UAW leaders in 2015. UAW leaders feared that the automakers would cut jobs at combustion engine factories and shift work to non-union joint venture battery plants or overseas suppliers.

Persons: Luke Sharrett, Shawn Fain, Ford, Sam Fiorani, Stellantis, Joe Biden, Fain, Donald Trump, Mrinmay Dey, Peter Henderson, Abhirup Roy, Shailesh Kuber, Sayantani Ghosh, Cynthia Osterman Organizations: United Auto Workers, UAW, REUTERS, Ford, General Motors, Chrysler, Stellantis, GM, AutoForecast Solutions, CNBC, Anderson Economic Group, Detroit, U.S, Republican, Mack, EV, Detroit Three, Toyota, Tesla, Hyundai, Thomson Locations: Ford's Kentucky, Louisville , Kentucky, U.S, Arlington , Texas, Kentucky, Sterling Heights , Michigan, Detroit, Michigan, United States, Bengaluru

The UAW said another 5,000 workers are going on strike, bringing the total number of UAW members on strike at the Big Three automakers to over 45,000, on day 40 of the strike. The workers took the strike to Arlington Assembly, home to some of GM's most profitable vehicles, the Chevy Tahoe, Chevy Suburban, GMC Yukon and Cadillac Escalade. The union's strategy of targeted strikes has throttled billions in revenue for the Detroit Three while requiring fewer than half the 150,000 UAW members at the companies to forgo pay and walk picket lines. "It's time GM workers, and the whole working class, get their fair share." But he told UAW members "there is more to be won".

Persons: Rebecca Cook, Stellantis, we've, Shawn Fain, Fain, Harley Shaiken, Mary Barra, David Shepardson, Joe White, Ben Klayman, Sayantani Ghosh, Chizu Nomiyama, Peter Henderson Organizations: General Motors, REUTERS, United Auto Workers, UAW, Big, Arlington Assembly, Chevy Tahoe, Chevy, GMC Yukon, Cadillac, Kentucky, Chrysler, Detroit, EV, Ford, Korean, University of California, GM, Anderson Economic, Thomson Locations: Detroit , Michigan, U.S, Texas, Cadillac Escalade, F.N, Sterling Heights, Mich, University of California Berkeley, Arlington, Detroit

The company's revenue rose 13% to $56.5 billion in the quarter ended Sept. 30, compared with analysts' consensus estimate of $54.52 billion, according to LSEG data. Revenue from Microsoft's Intelligent Cloud unit, which houses the Azure cloud-computing platform, grew to $24.3 billion, compared with analysts' estimate of $23.49 billion, LSEG data showed. Microsoft said on Tuesday that its fiscal first-quarter profit was $2.99 per share, above analyst estimates of $2.65 per share, according to LSEG data. Sales of its Windows operating system and other products in the segment grew to $13.7 billion, compared with analysts' consensus estimate of $12.82 billion, according to data from LSEG. The segment containing the LinkedIn social network and its office productivity software grew to $18.6 billion, compared with analysts' consensus estimate of $18.20 billion, according to LSEG data.

Persons: Dado Ruvic, Jesse Cohen, Jeremy Goldman, Anna Tong, Stephen Nellis, Yuvraj Malik, Devika Syamnath, Peter Henderson, Matthew Lewis Organizations: Microsoft, REUTERS, Investing.com, Alpha, Intelligence, Thomson Locations: Investing.com ., Redmond, Washington, San Francisco, Bengaluru

Fain confirmed the Detroit Three had converged on a 23% wage hike offer and made progress on other issues. But he told UAW members "there is more to be won". While warning of possible expanded strikes, Fain also told UAW members the talks were closing in on an end. Walkouts began at the three automakers on Sept. 15 and now more than 34,000 union members are waging the UAW's first simultaneous strikes against the Detroit Three. Fain declared "the days of the UAW and Ford being a team to fight other companies are over."

Persons: Rebecca Cook, Shawn Fain, we've, Fain, Walkouts, Bill Ford, Henry Ford, Ford, Tesla, Stellantis, Joseph White, Ben Klayman, Pratyush Thakur, Sayantani Ghosh, Sriraj Kalluvila, Peter Henderson, David Gregorio Our Organizations: General Motors, REUTERS, Rights, United Auto Workers, Detroit Three, UAW, Chrysler, Detroit, Ford, GM, Toyota, Anderson Economic, Thomson Locations: Detroit , Michigan, U.S, Ford's, Kentucky, Detroit, Bengaluru

Fain acknowledged some union members want to vote on the offers the union bargainers have in hand. He urged UAW members not to give in to what he called "fear, uncertainty, doubt and division" sowed by the companies. More than 34,000 union members working at the three automakers are on strike since the walkouts began on Sept. 15. The demand included a 20% immediate increase, elimination of different pay scales among UAW workers and restoration of defined benefit pension plans. The GM offer "suggests we may be in the endgame," said University of California Berkeley labor professor Harley Shaiken.

Persons: Rebecca Cook, Shawn Fain, Fain, General Motors GM.N, Harley Shaiken, Ford, We've, Stellantis, Ford hasn't, Shaiken, it's, Tesla, Bill Ford, Joseph White, Ben Klayman, Pratyush Thakur, Sayantani Ghosh, Sriraj Kalluvila, Peter Henderson, David Gregorio Our Organizations: General Motors, REUTERS, Rights, United Auto Workers, UAW, General, Chrysler, GM, Ford, Bloomberg News, Detroit Three, of California, Ford's, Toyota, Anderson Economic, Detroit, Thomson Locations: Detroit , Michigan, U.S, of California Berkeley, Kentucky, Arlington , Texas, Detroit, Bengaluru

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