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☆ Ford buys EV charging startup in bid to help rescue its electric dreams
▼ + stars: | 2023-11-03 | by ( Tom Carter | ) www.businessinsider.com time to read: +3 min

Ford has bought an electric charging startup called AMP, TechCrunch reported. AdvertisementAdvertisementFord is buying an electric charging startup as it tries to reinvigorate its flagging EV push. The auto giant is purchasing Auto Motive Power (AMP), an electric charging startup that makes battery management software, as it seeks to overhaul its charging technology and reduce the cost of its electric vehicles. A Ford representative told TechCrunch that the deal aimed to accelerate its efforts to encourage EV adoption and improve its charging technology. Other car makers have taken a similarly cautious approach to electric vehicles in recent months, with several ditching ambitious targets amid slowing demand.

Persons: —, Ford, it's, Bill Ford, Harald Wilhelm, Elon, carmaker Organizations: Ford, TechCrunch, Service, Auto Motive, The New York Times, Benz, EV, GM, Subaru Locations: California, Kentucky

NEW YORK (AP) — For what it's worth, CNN's best-known international journalist, Christiane Amanpour, also found it odd that she's had little visible presence on the company's North American network for the past several years. The London-based Amanpour envisions her show as a weekly letter to Americans about what is going on in the world and why it's important to them. Amanpour, 65 and celebrating her 40th year at CNN, was for a long time the face viewers were most likely to see reporting from the world's hotspots. That has primarily, although not always, been left to others since she began hosting the studio show “Amanpour” each weekday. I know we can live in a world that's not 100% tribalized.”Amanpour said she's optimistic about Mark Thompson, a fellow Brit who recently began as CNN's new chief.

Persons: Christiane Amanpour, Chris Wallace, Michael Smerconish, Victor Blackwell, Amanpour, ”, “ I've, I've, Yitzhak Rabin, Sameh Shoukry, Jane Hartley, Sir Robert John Sawers, —, ” Amanpour, Mark Thompson, Chris Licht's, Donald Trump, “ Organizations: CNN, CNN International, PBS, Associated Press, Brit, Columbia Journalism School Locations: London, United States, Israel, U.S, Britain

☆ Everything is lining up right for these stocks, according to Piper Sandler
▼ + stars: | 2023-11-03 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

As the market gets off to a strong start for the new month, Piper Sandler sees the stars aligning for certain stocks. All stocks on the Piper Sandler list have an overweight rating. Piper Sandler's high-conviction list comes as stocks head for their best week of the year . E-commerce giant Amazon made the Piper Sandler list, underpinned by both its earnings growth and momentum heading into future results. The firm also noted that Amazon stock is headed toward its 52-week high and could break out above $146 per share.

Persons: Piper Sandler, Piper Sandler's, Thomas Champion, Lululemon, LULU, Abbie Zvejnieks, Zvejnieks, Amgen, Christopher Raymond, Raymond Organizations: Federal Locations: American, ecommerce

☆ Starbucks stock rises 6% as U.S. customers buy into pricier drinks
▼ + stars: | 2023-11-02 | by ( Amelia Lucas | ) www.cnbc.com time to read: +3 min

The company's same-store sales rose 8%, fueled by higher average checks and a 3% increase in customer traffic to its cafes. Analysts surveyed by StreetAccount were expecting same-store sales growth of 6.8%, but the company's domestic locations outperformed. And in China, Starbucks' second-largest market, same-store sales rose 5%. Looking to fiscal 2024, Starbucks expects same-store sales growth of 5% to 7%, down from its long-term forecast of 7% to 9% same-store sales growth. Starbucks projects that China will report same-store sales growth of 4% to 6% during the last three quarters of the fiscal year.

Persons: StreetAccount, Laxman Narasimhan, we're, Narasimhan, Rachel Ruggeri, Ruggeri Organizations: Starbucks, LSEG Locations: New York, North America, China, Its U.S, New York City

☆ Starbucks quarterly earnings beat was fueled by higher prices. Here’s how to play the stock
▼ + stars: | 2023-11-02 | by ( Christina Falso | ) www.cnbc.com time to read: 1 min

Market Movers rounded up the latest reactions to Starbucks from investors and analysts. The pros, including Jim Cramer , discussed the coffee giant after it released fiscal fourth-quarter results that exceeded expectations. U.S. and North American same-store sales jumped 8% as customers purchased costlier beverages. Starbucks closed the trading session up 9.5% and is held in Cramer's Charitable Trust portfolio.

Persons: Jim Cramer Organizations: Trust

Starbucks reported record revenue in its fourth quarter as it improved sales and efficiency at its existing stores and opened hundreds of new ones. The Seattle coffee giant opened 816 net new stores in the quarter, ending its fiscal year with more than 38,000 stores worldwide. But the company said an ongoing revamp of its existing North American stores is also improving sales and making operations more efficient. U.S. same-store sales rose 8%; store traffic was up 2% and consumers spent more per visit on things like food and customized drinks. Starbucks said store traffic in China rose 4% but consumers spent less per visit.

Organizations: Starbucks, FactSet Locations: Seattle, China

DoorDash had in August projected adjusted EBITDA of between $750 million and $1.05 billion. The company expects fourth-quarter adjusted EBITDA, a key measure of profitability, of between $320 million and $380 million, compared with analysts' estimates of $253.3 million. In the third quarter, total orders rose 24% to 543 million from a year earlier. Revenue rose 27% to $2.16 billion, compared with analysts' expectations of $2.09 billion, according to LSEG data. Net loss narrowed to $73 million, or 19 cents per share, in the third quarter, compared with $295 million, or 77 cents per share, a year earlier.

Persons: Dado Ruvic, Ravi Inukonda, DoorDash, Rachel Wolff, Granth, Anil D'Silva Organizations: REUTERS, ALDI, Reuters, Revenue, Thomson Locations: Japan, U.S, Bengaluru

ARCADIA, Calif. (AP) — After horse deaths marred this year’s Kentucky Derby and Preakness, and another occurred days ahead of the world championships, safety at the Breeders’ Cup is under intense scrutiny. “We know equine fatalities is a complicated issue and that’s why we’re continuing to invest in resources,” Drew Fleming, president and CEO of Breeders' Cup Ltd., said Wednesday. Breeders’ Cup officials said his death was due to “a cardiac event.” A required necropsy will determine the official cause. With history in mind, 1/ST Racing is conducting periodic inspections and testing of all racing surfaces before the Breeders’ Cup. Dutrow saddles White Abarrio in the Classic, his first Breeders' Cup runner since he returned earlier this year from a 10-year ban for medication violations.

Persons: ” Drew Fleming, Arcangelo, Jena Antonucci, ”, isn’t, Mage didn’t, Ramiro Restrepo, “, Groom, Dionne Benson, “ We’ve, Lisa Lazarus, “ That's, Bob Baffert, Donald Trump, HISA, Antonucci, Rick Dutrow, he's, Derby, Baffert hasn't, Medina Spirit's, Baffert, ” Baffert Organizations: Kentucky Derby, Preakness, Breeders, Santa, Federal Trade Commission, Breeders ’, Belmont, Santa Anita, Triple Crown, Anita, Churchill Downs Inc, Breeders ', Associated Press Locations: ARCADIA, Calif, Kentucky, Santa Anita, California, Santa, Churchill, Belmont, U.S, HISA, Del Mar

☆ Bank of America says be wary of a soft holiday shopping season, gives its top picks
▼ + stars: | 2023-11-01 | by ( Pia Singh | ) www.cnbc.com time to read: +4 min

Holiday spending will be sluggish as consumers grapple with inflation, but Bank of America thinks a handful of value retailers and specialty stores could see a boost. Bank of America projects holiday sales-weighted average same-store sales will rise 0.6% year over year for its retail universe. Here are the buy-rated retailers that could stand out amid broader retail softness, according to Bank of America. Sporting goods chain Academy Sports and Outdoors was also highlighted as a Bank of America favorite. "Consumers are looking for deals and will choose retailers offering the best value," Hutchinson said.

Persons: Lorraine Hutchinson, Hutchinson, Ralph Lauren, Tuesday's, Michael Bloom Organizations: Bank of America, Bank of America ., Walmart, Target, Sporting, Academy Sports Locations: Tuesday's

☆ UAW strikes cost Stellantis about $3.2 billion in revenue
▼ + stars: | 2023-10-31 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

DETROIT — Labor strikes by the United Auto Workers union cost Stellantis about $3.2 billion, or 3 billion euros, in lost revenue through October, the company reported Tuesday. UAW workers began roughly six weeks of targeted U.S. strikes against Stellantis, General Motors and Ford Motor on Sept. 15. Ford said the UAW strike cost it $1.3 billion in earnings before interest and taxes, including roughly $100 million during the third quarter. Despite the labor strikes, Stellantis maintained its 2023 guidance, signaling the strength of its global footprint compared to its main U.S.-based competitors. Stellantis' guidance includes double-digit adjusted operating income margin, positive industrial-free cash flows and completion of $1.6 billion, or 1.5 billion euros, in share buybacks.

Persons: Stellantis, Natalie Knight, Ford Organizations: United Auto Workers, DETROIT — Labor, UAW, Stellantis, General Motors, Ford, North, GM, CNBC Locations: Sterling Heights , Michigan, U.S

The odds of winning a Powerball grand prize are 1 in 292 million. AdvertisementAdvertisementIt's common knowledge that the odds of winning big in the lottery are incredibly low. The chances of winning a Powerball grand prize are about 1 in 292 million, and about 1 in 302 million for a Mega Millions grand prize. The biggest Powerball jackpot to date was a $2.04 billion prize, won in California in November 2022. From multi-million dollar homes to medical bills, here's how lottery winners are spending their cash prizes.

Persons: they'd, they've Organizations: North American Association of State, Provincial Locations: California

A view of the turbines at Orsted's offshore wind farm near Nysted, Denmark, September 4, 2023. Orsted, the world's largest offshore wind developer, said in August it may see impairments of 16 billion Danish crowns ($2.3 billion) on its U.S. offshore developments due to supply chain problems, soaring interest rates and a lack of new tax credits. Norway's Equinor (EQNR.OL), BP's partner on those New York offshore wind developments, booked a $300 million impairment on the projects on Friday. In Massachusetts, two offshore wind developers, SouthCoast Wind and Commonwealth Wind, agreed to pay local utilities to terminate deals that would have delivered around 2,400 MW of energy. Avangrid also canceled a contract to sell power in Connecticut from its proposed 804-MW Park City offshore wind farm.

Persons: Tom Little, Denmark's, Joe Biden, Orsted, Jacob Pedersen, Portugal, France's, Avangrid, Scott DiSavino, Louise Breusch Rasmussen, Ron Bousso, Jonathan Oatis, Josie Kao Organizations: REUTERS, BP, U.S, Analysts, Reuters, Commonwealth, Shell, Energias, Thomson Locations: Nysted, Denmark, U.S, Danish, New York, Massachusetts, Connecticut, Rhode Island and Massachusetts, In Massachusetts, Commonwealth, Spanish, Copenhagen, London, Bengaluru

MILAN (AP) —Automaker Stellantis said Tuesday that the autoworkers strike in North America is expected to cost the company around 750 million euros ($795 million) in profits —less than its North American competitors. The Europe-based maker of Jeep, Fiat and Peugeot reported a 7% boost in net revenues to 45.1 billion euros, with production halts caused by the strikes costing the company 3 billion euros in sales through October. GM, the last carmaker to reach a deal to end the strike, reported an $800 million strike hit. North America continued to be the revenue leader, contributing 21.5 billion euros, an increase of 2% over last year, and representing nearly half of global revenues. Europe, the next biggest performing region, saw revenues grow 5% to 14 billion euros, as sales rose 11%.

Persons: Stellantis, Natalie Knight, Ford, Knight Organizations: MILAN, Fiat, Peugeot, GM, CES, LA, Saturday, United Auto Workers Union, Jeep, North Locations: North America, Europe, Asia, U.S, Las Vegas, Michigan, Ohio

☆ Ford to add more Tesla EV chargers to its network
▼ + stars: | 2023-10-30 | by ( ) www.reuters.com time to read: +2 min

Oct 30 (Reuters) - Ford Motor (F.N) said on Monday it would add more of Tesla's Superchargers to its electric-vehicle charging network, higher than previously forecast, as automakers tap into the EV leader's sprawling charger network to expand the range of their cars. Ford will now add over 15,000 of Tesla's Superchargers to its network, up from its earlier projection of 12,000 chargers. These three providers would bring more than 10,000 new chargers to the network, including more than 550 new DC fast chargers. BlueOval combines multiple charging networks to provide access to the largest North American public charging network offered by automotive manufacturers. The development comes months after Ford struck a deal with Tesla to allow EV owners gain access to the biggest network of high-speed Superchargers in the United States in early 2024.

Persons: Ford, BlueOval, Tesla, Abhijith Ganapavaram, Shilpi Majumdar Organizations: Ford, EV, U.S, Francis Energy, Ford EV, Shell, Thomson Locations: North America, Canada, America, United States, Bengaluru

☆ Panasonic cuts battery unit's profit outlook, warns on high-end EV sales
▼ + stars: | 2023-10-30 | by ( ) www.reuters.com time to read: +2 min

Panasonic lowered its full-year operating profit forecast for the energy unit that makes batteries for Tesla (TSLA.O) and other automakers to 115 billion yen ($769 million) from 135 billion yen. The battery unit's production in Japan suffered from slowing uptake for high-end EVs in North America, Panasonic said in the presentation material, as the U.S. Inflation Reduction Act spurred demand changes among consumers. Panasonic added its production at its North American operations remained steady, and it saw firm sales of vehicles eligible for tax credits. South Korean battery firm LG Energy Solution (373220.KS) last week warned of slowing revenue growth in 2024 due to global economic uncertainties affecting the outlook for EV sales. General Motors (GM.N) is also slowing the launch of several EV models to cut their costs, and pulling back on EV product spending.

Persons: Steve Marcus, Tesla, Elon Musk, Daniel Leussink, Kim Coghill, Miral Organizations: Panasonic, REUTERS, Rights, Panasonic Holdings, Korean, LG Energy, EV, General Motors, Thomson Locations: Las Vegas , Nevada, U.S, Japan, China, Europe, North America, KS

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

DETROIT (AP) — Pressure in rising on General Motors as the lone holdout in a strike targeting all three big Detroit automakers after a tentative contract agreement with Jeep maker Stellantis was reached with the United Auto Workers union over the weekend. The Ford agreement revives cost-of-living adjustments that the UAW agreed to suspend in 2009 during the Great Recession. At Stellantis, workers get cost-of-living pay that would bring raises to a compounded 33%, with top assembly plant workers making more than $42 per hour. Overnight, 8,200 Stellantis workers in Canada represented by a different union, Unifor, walked off the job. At the peak, about 46,000 UAW workers were on strike — about one-third of the union’s 146,000 members at all three companies.

Persons: Stellantis, ”, Erik Gordon, Ford, Shawn Fain, Fain, Chuck Browning, ” “, ” Browning, Gordon, Bruce Baumhower, ” Unifor, ____ Bajak, John Raby, Corey Williams, Haleluya Organizations: DETROIT, General Motors, Detroit, United Auto Workers, UAW, Ford, GM, Saturday, Silverado, Sierra, Vehicles, GMC Acadia, Cadillac, University of Michigan, ” “ UAW, Jeep, “ Locations: American, Spring Hill , Tennessee, Texas , Michigan, Missouri, Spring, Mexico, Arlington , Texas, Detroit, America, Stellantis, Toledo , Ohio, Canada, Unifor, Boston, Charleston , West Virginia, Sterling Heights , Michigan, Jersey City , New Jersey

☆ Be more energetic at work! Why it seems like your boss is suddenly prioritizing soft skills.
▼ + stars: | 2023-10-29 | by ( Tim Paradis | ) www.businessinsider.com time to read: +6 min

AdvertisementAdvertisementJames Neave, head of data science at Adzuna, compares soft skills to people skills. Selker said that because soft skills can be observed, they can be measured, even if somewhat subjectively. Measuring soft skills can then become more like evaluating hard skills. AdvertisementAdvertisement"It really is a shift in thinking then to say, 'Can we observe these soft skills?" The pandemic meant that many Gen Zers, as they started their careers, didn't get the face-to-face interactions at work that might have allowed them to further develop their soft skills.

Persons: —, we've, Carrie Fisher, Harry Met Sally, Norman Bacal, Bacal, James Neave, Neave, Greg Selker, Stanton Chase, Selker, Zers, didn't Organizations: Service, Management, LinkedIn, KPMG Locations: American, Adzuna

☆ Canada's St. Lawrence Seaway workers' union agrees to tentative deal
▼ + stars: | 2023-10-29 | by ( ) www.reuters.com time to read: 1 min

Companies St Lawrence Seaway Management Corp. FollowOTTAWA, Oct 29(Reuters) - A seaway workers' union in eastern Canada agreed to a new tentative labor contract on Sunday, ending a days-long strike that had impeded the movement of grains and other commodities on a key North American trade route linked to the Atlantic Ocean. The Unifor union, representing 361 workers along the St. Lawrence Seaway, said the agreement covers Unifor members at Locals 4211, 4212 and 4323 in Ontario and Locals 4319 and 4320 in Quebec, who work in the supervisory and engineering group and the maintenance, operations, and clerical group. Reporting by Ismail Shakil in Ottawa and Surbhi Misra in Bengaluru; Editing by Rod Nickel and Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

Persons: Ismail Shakil, Surbhi Misra, Rod Nickel, Kim Coghill Organizations: Lawrence Seaway Management Corp, seaway, Lawrence Seaway, Thomson Locations: OTTAWA, Canada, American, St, Lawrence, Ontario, Quebec, Ottawa, Bengaluru

It hardly mattered that “Five Nights at Freddy’s” was released simultaneously in theaters and on streaming this weekend. Fans flocked to movie theaters across the country to see the scary video game adaptation on the big screen, which made $78 million to top the North American box office, according to studio estimates Sunday. The movie also opened in 64 markets internationally, where it’s expected to gross $52.6 million, giving the film a $130.6 million global launch – the biggest of any horror released this year. Political Cartoons View All 1223 ImagesAnd it paid off: “Five Nights at Freddy’s” is his company’s biggest opening of all time, surpassing “Halloween’s” domestic and global debut. Coppola’s “Priscilla,” about Priscilla Presley’s life with Elvis, also opened on four screens in New York and Los Angeles, where it averaged $33,035 per screen.

Persons: ”, Blumhouse, Emma Tammi, Josh Hutcherson, Mary Stuart Masterson, Matthew Lillard, Freddy Fazbear’s, Scott Cawthon, Jason Blum, “, ” Blum, AP’s Mark Kennedy, “ Taylor Swift, Martin Scorsese's, Alexander Payne’s “, Sofia Coppola’s “ Priscilla, Paul Giamatti, Coppola’s “ Priscilla, Priscilla Presley’s, Elvis, Cailee Spaeny, Jacob Elordi Organizations: American, Universal, Peacock, NBCUniversal, IGN, Rotten, AMC Theatres, Paramount, New Locations: U.S, Canada, New York, Los Angeles, New England

For the second year in a row, U.S. shoppers are seeing double-digit inflation in the candy aisle. That’s on top of a 14% increase in candy and gum prices in October 2022. “The price of candy has gotten to be outrageous,” said Jessica Weathers, a small business owner in Shiloh, Illinois. Meanwhile, global sugar prices are at 12-year highs, Goughary said. Buck said Hershey is trying to meet consumers’ needs with offerings in value stores and pack sizes at various price points.

Persons: ”, Jessica Weathers, ” Weathers, Dan Sadler, Kelly Goughary, Goughary, —, Michele Buck, Buck, Hershey Organizations: Gro Intelligence, Aldi, Mars Inc, Hershey Co Locations: Shiloh , Illinois, West Africa, El, Ivory, India, Brazil

☆ Coke and Pepsi stocks are both struggling — but one beverage giant has more to worry about than the other
▼ + stars: | 2023-10-28 | by ( Amelia Lucas | ) www.cnbc.com time to read: +6 min

Coke's overall volume rose 2% in the third quarter, while Pepsi reported flat beverage volume and a 1.5% decline in its food volume. Coke reported flat volume, while Pepsi's North American beverage unit saw volume fall 6%. "Coke has been taking share from Pepsi for many, many quarters," RBC Capital Markets analyst Nik Modi said. McDonald's has served Coke products since Ray Kroc opened his first franchised location, and is the beverage company's largest restaurant customer. International success can offset more sluggish domestic demand, like the 6% volume decline for Pepsi's North American beverage.

Persons: Luke Sharrett, Coke, James Quincey, Edward Jones, Brittany Quatrochi, Nik Modi, snacking, Modi, Quincey, McDonald's, Ray Kroc, Taco, Quatrochi Organizations: Pepsi Co, Bloomberg, Getty, Cola, PepsiCo, Coke, Atlanta -, Pepsi, Pepsi's, Gatorade, RBC Capital, Frito, U.S, Taco Bell, Yum Brands Locations: Jasper , Indiana, Atlanta, North America, United States, Europe, North, U.S, Argentina, Turkey

☆ For the second Halloween in a row, U.S. candy inflation hits double digits
▼ + stars: | 2023-10-28 | by ( ) www.cnbc.com time to read: +3 min

For the second year in a row, U.S. shoppers are seeing double-digit inflation in the candy aisle. That's on top of a 14% increase in candy and gum prices in October 2022. "The price of candy has gotten to be outrageous," said Jessica Weathers, a small business owner in Shiloh, Illinois. Weathers said she usually buys plenty of candy for trick-or-treaters and events at school and church. Meanwhile, global sugar prices are at 12-year highs, Goughary said.

Persons: Jessica Weathers, Weathers, Dan Sadler, Kelly Goughary, Goughary, —, Michele Buck, Buck, Hershey Organizations: Gro Intelligence, Aldi, Hershey Locations: Shiloh , Illinois, West Africa, El, Ivory, India, Brazil

☆ Dana sees 'significant impact' from UAW strikes to North American operations
▼ + stars: | 2023-10-27 | by ( Nathan Gomes | ) www.reuters.com time to read: +2 min

Striking United Auto Workers (UAW) members from the General Motors Lansing Delta Plant picket in Delta Township, Michigan U.S. September 29, 2023. Dana said the UAW strikes affected some of its largest light truck programs, including Ford Super Duty, Ranger and Bronco as well as Stellantis' Jeep Wrangler and Gladiator. "The longer the UAW strike continues, the greater financial stress there will be across the Tier 2 through Tier 4 supply base," Dana's chief executive James Kamsickas said in a post-earnings call with analysts. Dana expects its full-year sales to be $10.7 billion if UAW strikes through Oct. 31, or $10.2 billion with strikes through Dec. 31. GM and Ford have pulled their full-year forecasts this week to account for impacts from the UAW strikes.

Persons: Rebecca Cook, DAN.N, Dana, James Kamsickas, Nathan Gomes, Shilpi Majumdar Organizations: United Auto Workers, UAW, General Motors Lansing Delta Plant, Michigan U.S, REUTERS, Dana, Detroit Three, General Motors, Ford Motor, Stellantis, Ford Super Duty, GM, Ford, Anderson Economic Group, Thomson Locations: Delta Township, Michigan, North America, Bengaluru

☆ GM, UAW may be nearing a labor deal after marathon negotiating session
▼ + stars: | 2023-10-27 | by ( Michael Wayland | ) www.cnbc.com time to read: +3 min

Both GM CEO Mary Barra and UAW President Shawn Fain participated in the marathon bargaining, however the union leader was doing so virtually, said two of the sources. Fain was attempting to simultaneously negotiate with GM and Chrysler parent Stellantis , which were hosting talks with the union roughly 30 minutes from one another. Spokespeople with GM, Stellantis and UAW declined to comment on specific details of the talks. The union called back striking Ford workers after reaching a tentative deal with the automaker. The strikes have collectively cost GM, Ford and Stellantis billions of dollars in lost production.

Persons: Mary Barra, Shawn Fain, Fain, Mark Stewart, Stellantis, Ford, It's Organizations: DETROIT, United Auto Workers, General Motors, Ford Motor, UAW, GM, Chrysler, North, Stellantis, Ford, Deutsche Bank

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