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☆ Oklahoma law removes pro-ESG investments from pensions
▼ + stars: | 2023-10-11 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOklahoma law removes pro-ESG investments from pensionsHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.

Persons: Brian Sullivan, “ Organizations: CNBC

Shmyhal told a high-level roundtable to support Ukraine held during the International Monetary Fund and World Bank meetings in Marrakech, Morocco, that Ukraine's state budget deficit would be about 20% of the country's GDP this year and 21% in 2024. "We expect support from all our partners, both in equal amounts, Shmyhal said. He said the World Bank has been helping to assess recovery needs, adding that $14 billion alone would be needed for a rapid-recovery response program. Shmyhal said the key to the country's resilience has been economic reform programs, including those to fight corruption and boost digitalization. "If the right conditions are created, we estimate that as much as one-third of Ukraine's future needs could be met with private-sector financing," Banga said.

Persons: Denys Shmyhal, Shmyhal, Ajay Banga, Banga, Janet Yellen, Volodymyr Zelenskiy, David Lawder, Alex Richardson, Leslie Adler Organizations: Ukrainian, International Monetary Fund, World Bank, Bank, U.S, Treasury, Ukraine, Thomson Locations: MARRAKECH, Morocco, Ukraine, Marrakech, Russia, U.S

[1/4] Cars pass under an overpass at the General Motors Car assembly plant in Oshawa, June 1, 2012. REUTERS/Mark Blinch/File Photo Acquire Licensing RightsOSHAWA, Ontario, Oct 10 (Reuters) - General Motors (GM.N) and Canadian union Unifor reached a tentative agreement on Tuesday just hours after 4,300 workers went on strike at three GM facilities. The union said the tentative agreement follows the pattern agreement Unifor reached with Ford Motor (F.N) last month and includes wage hikes of up to 25%. GM has lost 34,176 vehicles of production since the start of the UAW strike, according to an estimate by Deutsche Bank. GM has laid off 2,300 U.S. workers due to the impacts of the UAW strike.

Persons: Mark Blinch, Unifor, Lana Payne, Payne, we’re, Darrell Colley, Stellantis, Arlyn McAdorey, Shivansh Tiwary, Jyoti Narayan, David Shepardson, Mark Potter, Matthew Lewis, David Gregorio Our Organizations: General Motors, REUTERS, Rights, Ford Motor, Workers, GM, Ford, United Auto Workers, UAW, Deutsche Bank, Chrysler, Unions, Thomson Locations: Oshawa, Rights OSHAWA, Ontario, U.S, United States, Oshawa , Ontario, Bengaluru, Washington

TORONTO (AP) — Auto workers walked off the job at three General Motors facilities in Canada early Tuesday after failing to reach agreement with the automaker. Their union, Unifor, represents more than 4,200 workers at the plants. They had warned they would begin a strike if no agreement was struck with GM by midnight local time. Workers at Ford of Canada ratified a new deal late last month that raises base hourly pay for production workers by almost 20% over three years. Unifor had earlier avoided going on strike against the Detroit automakers, unlike its U.S. counterpart, the United Auto Workers.

Persons: ”, Lana Payne, General Motors, ” Payne, ” Jennifer Wright, Payne, Unifor Organizations: TORONTO, — Auto, General, GM, Ford, General Motors Corp, Unifor, Oshawa Assembly, Operations, Catharines Propulsion Plant, Woodstock, Distribution, Workers, Canada, Detroit, ., United Auto Workers Locations: Canada, St, Catharines, Oshawa , Ontario, CAMI, Ingersoll , Ontario

Fain also wants workers at the plants to make top UAW assembly plant wages, which now are $32 per hour. Political Cartoons View All 1205 Images“The battery plants are going to be the make-or-break issue,” said Sam Abuelsamid, a mobility analyst for Guidehouse Insights. And if lower-paying battery plants aren't union, workers won't have anywhere to get the same wages and benefits. But they also see a future where buyers could switch, and they think wages at the battery plants should match what they make. The UAW, he said, will use this to try to organize other Korean-owned battery plants.

Persons: WAYNE, Shawn Fain's, Stellantis, they'll, Fain, ”, Sam Abuelsamid, It’s, festering, Ford, Jim Farley, “, ” Fain, Farley, Mary Barra, Chris Jedrzejek, Jedrzejek, Todd Lauerman, “ it’s, ” It's, Abuelsamid, let's, Harry Katz, Katz, Marick, Masters Organizations: Ford, United Auto Workers, EV, General Motors, Detroit, UAW, Korean, Guidehouse, GM, Carnegie Mellon University, Bronco, Toyota, Cornell University, “, Wayne State University Locations: Mich, Detroit, U.S, Kentucky, Tennessee, Michigan, Ford, Korean, Wayne , Michigan, Ohio, South Bend , Indiana

☆ Canadian union Unifor strikes at GM after contract talks fail
▼ + stars: | 2023-10-10 | by ( ) www.reuters.com time to read: +3 min

GM was disappointed about being unable to reach a deal at this time but will continue to negotiate with Unifor, the automaker said in a statement. Unifor represents about 18,000 workers at the Canadian facilities of the Detroit Three automakers, which also include Ford (F.N) and Chrysler parent Stellantis (STLAM.MI). Unifor last month ratified a new three-year contract with Ford that offered wage increases of up to 25% to more than 5,600 workers at its Canadian facilities. Unifor said last week that GM was "resisting" a number of important elements of its agreement with Ford. The union had chosen the company as its second bargaining target of the Detroit Three automakers after Ford.

Persons: Mark Blinch, Unifor, Lana Payne, Mack Trucks, Jason Gale, ” Unifor, Shivansh Tiwary, Jyoti Narayan, Christian Schmollinger, Jamie Freed Organizations: General Motors, REUTERS, General, North, Unifor, Detroit Three, Ford, Chrysler, United Auto Workers, UAW, Volvo Group, Detroit, Thomson Locations: Oshawa, St, Catharines, Woodstock, United States, Canada, Ontario, Bengaluru

☆ Forget Gen Zers and Taylor Swift concerts. It's boomers who are flashing their dollars.
▼ + stars: | 2023-10-10 | by ( Cork Gaines | ) www.businessinsider.com time to read: +5 min

The hope of avoiding a recession in the US heated up this year despite interest rates skyrocketing over the past 18 months. They also have more of a buffer than from the economic impact of inflation and higher interest rates than younger generations. AdvertisementAdvertisementWhile high interest rates and soaring prices for homes in recent years are terrible for young buyers, they are increasing the wealth of older Americans. Lance McMillan/Toronto Star via Getty ImagesMeanwhile, higher rates are helping older Americans grow their wealth in other ways. So older Americans who, in the past, would have been forced to sacrifice higher returns for safer investments can now get both.

Persons: boomers, —, Taylor Swift, Tim Robberts, Ed Yardeni, Yardeni, they'll, they've, Lance McMillan, Neil Howe, demographer, Howe Organizations: Boomers, Service, Census Bureau, Labor, Images, Yardeni Research, New, Toronto Star, Getty, Treasury Locations: New York

"There's been very little marking down of (private) assets," said Con Keating, head of research at Brighton Rock Group, an insurance company for pension schemes. "No-one knows where the next big blow-up for pensions will come from," said Henry Tapper, founder of pension market analysis group AgeWage. He said heavy selling of commercial property and private equity stakes by pension schemes is raising questions over private capital valuations. "It's the right approach to obviously put some scrutiny on private market valuations." But in deals where private equity firms and investors buy and sell portfolios of investments, assets are being valued at less.

Persons: Yann Tessier, Con Keating, Henry Tapper, EY's, Paul Kitson, Burgiss, Ben Leach, Willis Towers Watson, IOSCO, Wilfred Small, Sinead Cruise, John O'Donnell, Kirsten Donovan Organizations: City of, REUTERS, Britain's, Authority, Brighton Rock Group, Reuters, Numis Securities, Thomson Locations: City, City of London, Canary, London, Britain, Germany, Sweden

☆ UAW Mack Trucks union members to join striking Detroit autoworkers on picket lines after voting down tentative deal
▼ + stars: | 2023-10-09 | by ( Michael Wayland | ) www.cnbc.com time to read: +4 min

UAW members attend a rally in support of the labor union strike at the UAW Local 551 hall on the South Side on October 7, 2023 in Chicago, Illinois. DETROIT – About 3,900 United Auto Workers members with Mack Trucks will go on strike Monday after a majority of members rejected a tentative agreement reached last week by the union and company. The tentative agreement was voted down by 73% of UAW members who voted, the union said Sunday night. The Mack Trucks workers will add to tens of thousands of other striking UAW members, most notably more than 25,000 employees with General Motors , Ford Motor and Stellantis . Mack Trucks President Stephen Roy said the company is "surprised and disappointed that the UAW has chosen to strike, which we feel is unnecessary."

Persons: Mack Trucks, Shawn Fain, Mack, what's, Fain, Detroit autoworkers, Stephen Roy Organizations: UAW, DETROIT –, United Auto Workers, Workers, General Motors, Ford Motor, Detroit, Volvo Group, Detroit automakers, CNBC Locations: Chicago , Illinois, DETROIT, Pennsylvania , Maryland, Florida

Schultz had met with a group of employees from Starbucks locations in Long Beach, California, to discuss concerns about working conditions. Lawyers for Starbucks Workers United, which is organizing the company's workers and filed a complaint on behalf of Hall, did not immediately respond to a request for comment. Starbucks and Schultz have faced allegations of widespread illegal union-busting from workers, labor groups and Democratic lawmakers. Hall then asked Schultz about allegations of illegal labor practices in complaints pending at the NLRB, according to the filings. SenatorsStarbucks must disclose spending on response to union campaign, judge rulesReporting by Daniel WiessnerOur Standards: The Thomson Reuters Trust Principles.

Persons: Howard Schultz, Julia Nikhinson, barista, Brian Gee, Schultz, Hall, ” Gee, Gee, Jonathan Levine, Littler Mendelson, Gabe Frumkin, Barnard Iglitzin, Lindsay Parker Read, rehire, Daniel Wiessner Organizations: Starbucks, Health, Education, Labor, Capitol, REUTERS, Former Starbucks Corp, National Labor Relations, Madison Hall, Starbucks Workers, Workers, Democratic, NLRB, U.S . Department of Labor, Starbucks Corp, National Labor Relations Board, U.S, Senators Starbucks, Thomson Locations: Washington ., California, Los Angeles, Long Beach , California, U.S, Long Beach

☆ Hollywood writers ratify new contract with studios
▼ + stars: | 2023-10-09 | by ( Sarah Whitten | ) www.cnbc.com time to read: +2 min

Writers Guild of America East members walk a picket line at the Paramount+ Summit outside the Paramount Building in Times Square in New York City on May 17, 2023The Writers Guild of America has officially ratified its new three-year contract with Hollywood studios. The guild on Monday announced that 99% of its membership voted to ratify the new deal, with 8,435 votes for "yes" and only 90 for "no." "Through solidarity and determination, we have ratified a contract with meaningful gains and protections for writers in every sector of our combined membership," said Meredith Stiehm, president of Writers Guild of America West. The guild also negotiated higher contribution rates to health benefits and pensions, as well as a guaranteed number of writers in writers' rooms for television shows. "Until the studios make a deal that addresses the needs of performers, WGA members will be on the picket lines, walking side-by-side with SAG-AFTRA in solidarity," said Lisa Takeuchi Cullen, president of Writers Guild of America East.

Persons: Meredith Stiehm, Jimmy Fallon, Jimmy Kimmel, Seth Meyers, Stephen Colbert, John Oliver, Lisa Takeuchi Cullen Organizations: Guild of America East, Paramount, Guild of America, Hollywood, Monday, Writers Guild of America West, WGA, American Federation of Television, Radio Artists, Disney, Netflix, Universal, Warner Bros, Discovery, SAG, Writers Guild of America East, Comcast, CNBC, NBCUniversal Locations: New York City, NBCUniversal

☆ How this 77-year-old widow lost $661,000 in a common tech scam: 'I realized I had been defrauded of everything'
▼ + stars: | 2023-10-08 | by ( Greg Iacurci | ) www.cnbc.com time to read: +19 min

Older adults, many of whom have saved their entire careers for retirement, can have the most to lose. The Covid pandemic was a disproportionate threat to older adults, keeping Americans indoors and quickly pushing them online. Outcomes hinge on a complex web of federal and state rules that govern banking and elder financial fraud. Such "heightened procedures" to protect older adults are part of the bank's duty of care relative to older customers, the lawsuit said. Scammers had her wire funds from her PNC bank account to an account at the now-defunct Signature Bank in New York.

Persons: Marjorie Bloom, she'd, Bloom, Roth, Ester, Ester Bloom, Rebecca Keithley, —, they'd, I'm, Kathy Stokes, Keithley, General Merrick Garland, she'll, Marjorie Bloom Bloom, trekked, Mount, Kriangkrai, I've, There's, Sergio Flores, scammers —, Carla Sanchez, Adams, Sanchez, Banks, Marve Ann Alaimo, Porter Wright Morris, Arthur, Alaimo, Cryptocurrency, Scammers, scammers, it's, Patrick Wyman, Wyman, Al Drago Organizations: PNC Bank, Finance, CNBC, Federal Bureau of Investigation, PNC, FBI, Social, Department of Justice's, Vanguard Group, Federal, Consumer Finances, AARP, Microsoft, Department of Energy, Guaranty Corporation, U.S, North Dakota ., Everest Base, Social Security, North Bethesda Camera, PNC Bank —, District of Columbia, Bloomberg, Getty, National Consumer Law, Signature Bank, Asset Unit Locations: Chevy Chase , Maryland, U.S, Vietnam, Mount Everest, North Dakota, liquidating, Nepal, Marjorie Bloom Maryland, District, —, Maryland, PNC, New York, Cayman Islands, Washington ,

DETROIT (AP) — Union workers at Mack Trucks have voted down a tentative five-year contract agreement reached with the company and plan to strike at 7 a.m. Monday, the United Auto Workers union says. Union President Shawn Fain said in a letter to Mack parent company Volvo Trucks that 73% of workers voted against the deal in results counted on Sunday. Union leaders had reached a tentative agreement on the deal on Oct. 1. Fain wrote that UAW members and workers across the country are seeking their fair share in wages and benefits. Mack Trucks President Stephen Roy said in a statement Sunday night that the company is “surprised and disappointed” that the union chose to strike.

Persons: Mack Trucks, Shawn Fain, Mack, Fain, Ford, Stephen Roy, ” Organizations: DETROIT, —, Mack, United Auto Workers, Volvo Trucks, UAW, Union, North America, General Motors, Ford, GM Locations: Pennsylvania , Maryland, Florida, U.S

☆ UAW Mack Trucks deal could be a test for worker demands amid Detroit automaker negotiations
▼ + stars: | 2023-10-07 | by ( Michael Wayland | ) www.cnbc.com time to read: +4 min

Mack Trucks and UAW announced the tentative agreement early Monday, followed by releasing "highlights" of the deal later in the week to members. Neither UAW nor Mack Trucks have publicly released the tentative contract ahead of employee meetings to detail the agreement and voting this weekend. Another Mack Trucks worker descried the deal as "disgraceful" and an "insult" compared to their expectations and what's currently being negotiated by UAW international leaders with the Detroit automakers, also known as the Big Three. "They are just pushing this [tentative agreement] through so they don't have to deal with us while the Big Three are negotiating." United Auto Workers President Shawn Fain during an online broadcast updating union members on negotiations with the Detroit automakers on Oct. 6, 2023.

Persons: Rebecca Cook, Mack Trucks, Shawn Fain, Mack, They've, it's, Fain, what's Organizations: United Auto Workers, General Motors Lansing Delta Plant, Reuters DETROIT — United Auto Workers, Volvo Group, Detroit automakers, UAW, General Motors, Ford Motor, Lehigh Valley Operations, CNBC, Detroit Locations: Delta Township , Michigan, Pennsylvania

☆ Putin has bet Russia's entire economy on war. An expert says it's his best shot at maintaining control of the country.
▼ + stars: | 2023-10-07 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +5 min

Vladimir Putin bet his economy on a long war, ramping up military production and raising wages. An expert told Insider keeping Russia's economy stable is critical to prevent regime collapse. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementAdvertisementVladimir Putin has fully transitioned the Russian economy toward wartime production, betting his country's financial and manufacturing systems can outlast the West's until Russia sees a military victory in Ukraine. As long as the country maintains some semblance of the status quo in the economy, English said he doesn't expect to see things changing.

Persons: Vladimir Putin, Robert English, —, Putin, Vasily Astrov Organizations: Service, Kremlin, Street Journal, Vienna Institute for International Economic Studies, ., Government of, Russian Federation, University of Southern Locations: Russia, USSR, Ukraine, Russian, University of Southern California

DETROIT (AP) — The United Auto Workers union said Friday it will not expand its strikes against Detroit's three automakers after General Motors made a breakthrough concession on unionizing electric vehicle battery plants. He said GM made the change after the union threatened to strike at a plant in Arlington, Texas, that makes highly profitable large SUVs. Political Cartoons View All 1202 Images“Today, under the threat of a major financial hit, they leapfrogged the pack in terms of a just transition” from combustion engines to electric vehicles, he said. Battery plants are key to the union's survival as the auto industry makes a generational transition from internal combustion engines to vehicles that run on electricity. The automakers have resisted bringing battery plants into the national UAW contracts, contending the joint venture partners must be involved in the talks.

Persons: General Motors, Shawn Fain, Fain, GM's, “, we’re, ”, Marick, ” Masters, Ford, haven’t, Stellantis didn’t Organizations: DETROIT, United Auto Workers, Detroit's, General, GM, UAW, Wayne State University, “ GM, SK, Ford, nonunion Locations: Arlington , Texas, Korean, Detroit, South Korea, Lansing , Michigan, Chicago, nonunion U.S, Missouri , Ohio, Michigan

☆ China’s economy will be hobbled for years by the real estate crisis
▼ + stars: | 2023-10-06 | by ( Laura He | ) edition.cnn.com time to read: +10 min

Absorbing this “excess capacity” in the property sector will inevitably hurt China’s economic growth, according to Garcia-Herrero. The money from the sales funded their breakneck expansion, making real estate moguls some of the country’s richest people. The strategy largely worked until about three years ago when the Chinese government cracked down on excessive borrowing by the real estate industry because it was worried about the risk of financial instability. But overall, the property sector has contracted severely as it adjusts to a collapse in demand. “A fundamental rewiring of China’s economy will necessitate a focus on developing new industries, improving productivity, and bolstering rental markets,” said analysts from Stanford University and the ASPI.

Persons: ”, Alicia Garcia, Herrero, Garcia, they’re, Evergrande, Xu Jiayin, Xi Jinping, ” Mark Williams, Sheana Yue, Zichuan Huang, “, — Michelle Toh Organizations: Hong Kong CNN, Investment, Asia Pacific, Getty, Bank, International Monetary Fund, IMF, Regulators, Capital Economics, People’s Bank of China, Oxford Economics, Stanford University, Asia Society Policy Institute, Oxford Locations: China, Hong Kong, Beijing, Natixis, Wuhan, China's, Hubei, Japan

Here's a rundown of some of the largest strikes taking place in the U.S. today. 75,000 Kaiser Permanente workers walk off the jobPolitical Cartoons View All 1199 ImagesIn the health care sector, a major strike kicked off this week — with some 75,000 Kaiser Permanente workers walking off the job Wednesday in multiple states. Doctors are also not participating in the strike, and Kaiser said it was bringing in thousands of temporary workers. After five months on the picket lines, the writers strike was declared over after their union approved a contract agreement with studios last week. During the staggered strikes, workers have also called for solidarity and a boycott of hotels in the Los Angeles area.

Persons: — It's, isn't, Johnnie Kallas, Michelle Gaskill, Hames, Kaiser —, Kaiser, Ford, Shawn Fain, Fain, —, Hilton —, walkouts Organizations: Cornell University’s Labor, Kaiser Permanente, Strikers, The Coalition, Kaiser Permanente Unions, Kaiser, UAW, United Auto Workers, General Motors, Stellantis, Associated Press, Ford, U.S, Hollywood, American Federation of Television, Radio Artists, Alliance, Television Producers, Marriott, United, Biltmore, —, Westin Bonaventure Hotel Locations: U.S, Hollywood, California , Colorado , Oregon, Washington, Virginia, The Oakland , California, Southern California, Los Angeles, Orange, Biltmore Los Angeles

☆ Baby boomers are often said to be the luckiest generation financially — but millennials will be better off than their parents in retirement, survey finds
▼ + stars: | 2023-10-05 | by ( Grace Dean | Read More | Read Less | ) www.businessinsider.com time to read: +3 min

Millennials' retirement prospectives are rosier than boomers, according to research from Vanguard. Gen Xers and older millennials are set to replace a bigger proportion of their pre-retirement income. "For most income cohorts, millennials and Generation X enjoy a brighter retirement outlook than boomers," it said in a new report. "Our retirement outlook for Generation X and millennials is modestly better." For Gen Xers, this is 52% of their pre-retirement income, while for early millennials its 58%.

Persons: Millennials, Gen Xers, —, Xers, George W, Bush Organizations: Vanguard, Service

DETROIT (AP) — Meaningful progress has been made in negotiations between the striking United Auto Workers union and Detroit's three auto companies, according to a person with direct knowledge of the talks. The person said Wednesday that progress was reported at all three companies, with some offers being exchanged. Union President Shawn Fain will update members Friday on bargaining toward bringing to an end the nearly 3-week-old strikes against the companies. The union has so far limited the strike to about 25,000 workers at five vehicle assembly plants and 38 parts warehouses. Those workers will get union strike pay of $500 per week.

Persons: Shawn Fain, Fain, Ford, Stellantis, GM Organizations: DETROIT, United Auto Workers, Ford, General Motors, Union, GM, UAW, U.S, Wednesday Locations: Ford, Chicago, Lansing , Michigan, U.S

☆ In hedge funds' backyard, private credit is the toast of the town
▼ + stars: | 2023-10-04 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +3 min

Instead, people like Ken Kencel — CEO of Churchill Asset Management, a private credit division of asset management giant Nuveen — held court. In the next decade, he predicted that private credit shops and direct lenders could fill in the holes in the asset-based lending space, as well as home and auto loans. Private credit — or alternative credit or direct lending — is a subsect of finance that has grown rapidly thanks to higher interest rates and distressed banks. Higher interest rates are forcing institutions — the pensions and endowments that make up hedge funds' biggest investors — to rethink their portfolios. But while the Bridgewater founder had the rapt attention of the room, it was at a direct lending panel a couple of hours later when an ambitious audience member pitched himself to the private credit executives onstage.

Persons: Ray Dalio, Cliff Asness, Ken Kencel, —, I've, Banks, Gregory Robbins, Jan Van Eck Organizations: Greenwich Economic, Churchill Asset Management, Golub Capital, Bridgewater Locations: Greenwich, China

AIRLINES & AEROSPACE FIRMSPilots at several airlines including American Airlines (AAL.O), Delta Airlines (DAL.N), United Airlines Holdings (UAL.O), Spirit Airlines (SAVE.N) and Jetblue Airways (JBLU.O) negotiated new job contracts this year. Members of some unions like the Southwest Airlines Pilots Association have voted to authorize a strike if a new contract is not reached. MANUFACTURINGU.S. steel producer Cleveland-Cliffs (CLF.N) has reached a tentative agreement with the United Steelworkers union on a new three-year labor agreement for its Northshore mining operations. The Detroit Casino Council (DCC), which represents the workers, could call for strikes as soon as mid-October, when contracts expire. Labor unions secured new contract agreements at multistate operator-owned cannabis dispensaries in Illinois and in New Jersey in July.

Persons: Sergio Martinez, Mike Blake, Mack Trucks, isn't, Mrinalika Roy, Sriraj Organizations: REUTERS, U.S . Bureau of Labor Statistics, Reuters, Alliance, Television Producers, SAG, Hollywood, United Auto Workers, UAW, Detroit Three, General Motors, Ford Motor, Chrysler, Volvo Group, United Parcel Service, FedEx, Pilots, AIRLINES & AEROSPACE, American Airlines, Delta Airlines, United Airlines Holdings, Spirit Airlines, Jetblue Airways, Southwest Airlines Pilots Association, United Steelworkers, U.S . Steel, Unions, Vegas, MGM, Detroit, MotorCity, Detroit Casino Council, Kaiser Permanente, Workers, Green Thumb Industries, Labor, Phillips, Thomson Locations: Los Angeles , California, U.S, Michigan , Ohio, Missouri, Wichita , Kansas, Cleveland, Detroit, Hollywood, Greektown, Los Angeles, New York City, Chicago, Illinois, New Jersey, Roxana , Illinois, Bengaluru

☆ Goldman Sachs executive Chris Kojima to leave, memo says
▼ + stars: | 2023-10-03 | by ( Saeed Azhar | ) www.reuters.com time to read: +2 min

People walk in the Goldman Sachs global headquarters in Manhattan, New York, U.S., November 15, 2021. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsNEW YORK, Oct 3 (Reuters) - Chris Kojima, an executive in Goldman Sachs <GS.N> asset and wealth management unit, will leave the investment bank after almost 28 years, according to an internal memo seen by Reuters on Tuesday. His move is the latest in a series of high-profile departures from Goldman's asset and wealth management division, which manages $2.7 trillion in assets. "Chris founded and led businesses that are incredibly important to Goldman Sachs, and our business today is stronger because of his leadership," Nachmann said in a statement. He first joined Goldman Sachs as an investment banking associate in 1995, and was named managing director in 2002 and a partner in 2008.

Persons: Goldman Sachs, Andrew Kelly, Chris Kojima, Kojima, Julian Salisbury, Mike Koester, Jo Natauri, Matt Gibson, Marc Nachmann, Chris, Nachmann, Goldman, Saeed Azhar, Louise Heavens, Lananh Nguyen, Paul Simao Organizations: REUTERS, Reuters, Sixth, Thomson Locations: Manhattan , New York, U.S

☆ Auto companies could sacrifice stock buybacks to help pay for union demands, analyst says
▼ + stars: | 2023-10-03 | by ( Aruni Soni | ) www.businessinsider.com time to read: +4 min

Auto companies could forgo stock buybacks to pay for the costly union demands, an analyst said. Strikers have pointed out the billions of dollars companies have poured towards buybacks and dividends. Some investors have expressed willingness to sacrifice stock repurchases. Some investors seem ready to sacrifice stock buybacks. "That translates to a couple billion dollars per week of sales, $2 [billion] to $3 billion dollars, potentially.

Persons: —, Ford, Edward Jones, Jeff Windau, Brian Mulberry, Patrick Kaser, Stellantis, Patrick Anderson Organizations: Auto, Strikers, Service, Big Three, SEC, GM, Bloomberg, Stock, UAW, Zacks Investment Management, Ford, Brandywine Global, General Motors, Anderson Economic Group, Anderson Economic Locations: buybacks

☆ Goldman Sachs exec Chris Kojima to leave
▼ + stars: | 2023-10-03 | by ( Saeed Azhar | ) www.reuters.com time to read: +2 min

People walk in the Goldman Sachs global headquarters in Manhattan, New York, U.S., November 15, 2021. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsNEW YORK, Oct 3 (Reuters) - Chris Kojima, a Goldman Sachs (GS.N) executive in the asset and wealth management unit, will leave the investment bank at year-end after almost 28 years, an internal memo seen by Reuters on Tuesday showed. Kojima is among the latest high-profile executives to leave Goldman's asset and wealth management division, which manages $2.7 trillion in assets. "Chris founded and led businesses that are incredibly important to Goldman Sachs, and our business today is stronger because of his leadership," Nachmann said in a statement. He first joined Goldman Sachs as an investment banking associate in 1995, and was named managing director in 2002 and a partner in 2008.

Persons: Goldman Sachs, Andrew Kelly, Chris Kojima, Kojima, Julian Salisbury, Mike Koester, Jo Natauri, Matt Gibson, Marc Nachmann, Chris, Nachmann, Kojima's, Saeed Azhar, Louise Heavens, Lananh Nguyen, Paul Simao, Richard Chang Organizations: REUTERS, Reuters, Atlantic, Sixth, Thomson Locations: Manhattan , New York, U.S

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