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The logo for Valero Energy Corporation is shown at a Valero gas station in Encinitas, California, U.S., May 2, 2016. REUTERS/Mike Blake/File Photo Acquire Licensing RightsCompanies Valero Energy Corp FollowOct 26 (Reuters) - Refiner Valero Energy (VLO.N) beat analysts' estimates for third-quarter profit on Thursday, powered by sustained fuel and refined products demand against the backdrop of tight supplies. For the current quarter, Valero expects refining throughput between 2.93 million and 3.04 million bpd. The Diamond Green Diesel Port Arthur plant, which started up in the fourth quarter of 2022, boosted the sales volumes, Valero said. The 3-2-1 crack spread, a proxy for refining margins, fell around 35% during the July-September quarter.
Persons: Mike Blake, Lane Riggs, Valero, refiners, TD Cowen, Jason Gabelman, Arunima Kumar, Sriraj Organizations: Valero Energy Corporation, REUTERS, Companies Valero Energy Corp, Refiner Valero Energy, Valero, Green Diesel, U.S ., Thomson Locations: Valero, Encinitas , California, U.S, Saudi Arabia, Russia, Green Diesel Port Arthur, U.S . East Coast, San Antonio , Texas, Bengaluru
Amazon's grey cloud is the new blue sky
  + stars: | 2023-10-26 | by ( ) www.reuters.com   time to read: +2 min
REUTERS/Mike Blake Acquire Licensing RightsNEW YORK, Oct 26 (Reuters Breakingviews) - Amazon.com’s (AMZN.O) cloud business is offering a small sliver of light. The performance matches last quarter’s growth and is in-line with what analysts were expecting, according to LSEG. Alphabet, in its earnings on Tuesday, said its similar unit’s growth rate slowed. Shares in the company led by Sundar Pichai declined by a tenth in two days. It’s not exactly a cloudless sky - AWS growth is slowing relative to last year, and its growth rate is still 10 percentage points below Alphabet’s.
Persons: Andy Jassy, Mike Blake, Sundar Pichai, It’s, Jennifer Saba, Lauren Silva Laughlin, Sharon Lam Organizations: Amazon Web Services, REUTERS, Reuters, North, X, Unilever, Thomson Locations: Laguna Beach , California, U.S, It’s
[1/2] A Hermes store sign is seen at a shopping mall in San Diego, California, U.S., November 23, 2022. "Despite an uncertain context, our outlook remains unchanged," Eric du Halgouet, Hermes executive vice president finance, told journalists, noting strong growth in the U.S. and Asia, including China. Sales in the Americas rose 20%, despite smaller price hikes than in other parts of the world, with even growth rates on both U.S. coasts, Hermes said. In Europe, sales grew 18.1%, with Du Halgouet noting no sign of a slowdown in tourist traffic in the region, and no slowdown in France, including in the first weeks of October. "We are attentive," said Du Halgouet, noting an uncertain geopolitical context could affect tourism.
Persons: Mike Blake, Birkin, bellwether, Hermes, Eric du Halgouet, Du Halgouet, Bernstein, Luca Solca, Mimosa Spencer, Ingrid Melander, Jan Harvey Organizations: REUTERS, Rights, U.S, Analysts, Thomson Locations: San Diego , California, U.S, Asia, China, Americas, Madison, New York, Europe, France, Japan
TI forecasts weak fourth-quarter as industrial weakness deepens
  + stars: | 2023-10-24 | by ( ) www.reuters.com   time to read: +2 min
A Texas Instruments Office is shown in San Diego, California, U.S., April 24, 2018. Broader demand from the industrial market – Texas Instruments' biggest by revenue share – has worsened. China is a key market for Texas Instruments, with about 25% of its revenue coming from companies headquartered there. The company forecast current-quarter revenue between $3.93 billion and $4.27 billion, compared with analysts' average estimates of $4.49 billion, according to LSEG data. Revenue in the quarter ended Sept. 30 fell 14% to $4.53 billion, compared with estimates of $4.58 billion.
Persons: Mike Blake, Chavi Mehta, Shailesh Organizations: Texas Instruments, REUTERS, Texas, United Auto Workers, Revenue, TI, Thomson Locations: San Diego , California, U.S, Dallas , Texas, China, chipmakers, Bengaluru
Tesla Received Subpoenas Over Autopilot System
  + stars: | 2023-10-23 | by ( Denny Jacob | ) www.wsj.com   time to read: 1 min
A Tesla Model 3 using its driver-assistance system known as Autopilot. Photo: MIKE BLAKE/REUTERSThe Justice Department has requested additional information, including through subpoenas, from Tesla as it investigates the electric-vehicle manufacturer’s autopilot technology. Justice Department also requested information through subpoenas from Tesla regarding matters involving personal benefits, related parties, vehicle range and personnel decisions, the company disclosed in a regulatory filing Monday.
Persons: MIKE BLAKE Organizations: Tesla, Justice Locations: Tesla
REUTERS/Mike Blake/File Photo Acquire Licensing RightsOct 23 (Reuters) - The U.S. Justice Department has sought documents and issued subpoenas to Tesla (TSLA.O) as it scrutinizes the automaker's driver assistance system Autopilot and vehicle driving range, among other issues, the company said on Monday. Tesla said in a regulatory filing it has received requests for information "including subpoenas, from the DOJ. These have included requests for documents related to Tesla’s Autopilot and FSD features" and other requests "associated with personal benefits, related parties, vehicle range and personnel decisions." Reuters reported in October 2022 that Tesla was under a Justice Department criminal investigation over claims the company's electric vehicles can drive themselves, citing people familiar with the matter. The company's spending is, however, expected to return to the $7 billion to $9 billion range in the next two years, a regulatory filing showed.
Persons: Mike Blake, Tesla, Elon Musk, Musk, Aditya Soni, Juby Babu, David Shepardson, Maju Samuel, Savio D'Souza, Jonathan Oatis Organizations: Tesla, Beta, REUTERS, U.S . Justice Department, DOJ, Reuters, Justice Department, Street, Chief, Traffic, Administration, Thomson Locations: Encinitas , California, U.S, Mexico
Housing’s Other Threat to the Economy
  + stars: | 2023-10-21 | by ( Justin Lahart | ) www.wsj.com   time to read: +1 min
The limited number of existing homes has prompted some shoppers to purchase new ones. That shouldn’t mask the fact that what is happening in the housing market is utterly and horribly bad and that the economy is worse off for it. This past Thursday, the National Association of Realtors said that 3.96 million previously owned, or existing, homes were sold in September at a seasonally adjusted, annual rate. That was down from 4.68 million a year earlier, and even lower than the levels plumbed right after the pandemic hit. The report showed that there were just 1.13 million homes on the market last month, which is the fewest for a September on record.
Persons: MIKE BLAKE Organizations: Commerce, National Association of Realtors
REUTERS/Mike Blake/File Photo Acquire Licensing RightsHANOI, Oct 20 (Reuters) - Vietnamese electric vehicle (EV) maker VinFast said on Friday it has entered into a share subscription of up to $1 billion with U.S.-based fund Yorkville Advisors as it seeks to fund expansion in overseas markets. VinFast has the option, but not the obligation, to require Yorkville to subscribe for up to $1.0 billion worth of ordinary shares in VinFast at any time during the term of the agreement, VinFast said in a filing to the U.S. securities authority. VinFast so far has sold around 22,000 cars, aiming to meet this year's sale target of 40,000 to 50,000 units. Yorkville two years ago bought up to $400 mln worth of share in EV maker Lordstown. In April it said it would receive a fresh round of funding pledges worth $2.5 billion for its future development, of which $1 billion would be from its founder's pocket.
Persons: Mike Blake, VinFast, Pham Nhat Vuong, Ford, , David Mansfield, Vuong, Mark Angelo, VinFast's, Tesla, Phuong Nguyen, Jason Neely, Martin Petty Organizations: Los Angeles Auto, REUTERS, Rights, U.S, Yorkville Advisors, Nasdaq, Yorkville, Lordstown, Thomson Locations: Los Angeles , California, U.S, Rights HANOI, Yorkville, VinFast, Vietnam
Eli Lilly logo is shown on one of the company's offices in San Diego, California, U.S., September 17, 2020. Lilly is accusing the online pharmacies of infringing its trademark for Mounjaro, falsely associating themselves with Lilly and approved tirzepatide, and making false or misleading statements in their advertisements related to tirzepatide. “The unapproved drug products are dangerous research chemicals that are not approved for human consumption and have no connection to Eli Lilly or Mounjaro,” Lilly said in its lawsuit. Lilly is the only company with U.S. Food and Drug Administration approval to sell tirzepatide products. The suit comes exactly one month after Eli Lilly sued 10 U.S. medical spas, wellness centers and compounding pharmacies at federal courts in Arizona, Florida, Georgia, Minnesota, South Carolina and Utah for selling products claiming to contain tirzepatide.
Persons: Eli Lilly, Mike Blake, drugmaker, Britain’s Biolabshop, Audrey Beauty, Lilly, Mounjaro, ” Lilly, Patrick Wingrove, Bill Berkrot Organizations: REUTERS, U.S . International Trade Commission, Labs, Mew Mews Company, ITC, Federal Register, U.S . Food, Drug Administration, FDA, Thomson Locations: San Diego , California, U.S, Indianapolis, Poland, Arizona , Florida, Georgia, Minnesota, South Carolina, Utah, Nordisk’s
An American Airlines Airbus A321-200 plane takes off from Los Angeles International airport (LAX) in Los Angeles, California, U.S. March 28, 2018. REUTERS/Mike Blake/File Photo Acquire Licensing RightsOct 19 (Reuters) - American Airlines (AAL.O) on Thursday beat estimates for third-quarter adjusted profit and said bookings for the upcoming holiday season have been stronger than last year, sending its shares up 1.6% in premarket trading. American Airlines reported an adjusted profit of 38 cents per share for the quarter ended Sept. 30, beating analysts' average estimates of 25 cents per share, according to LSEG data. It now expects an adjusted profit of $2.25 per share to $2.50 per share for the year, compared with its previous forecast of $3 to $3.75 per share. The company expects its fourth-quarter total revenue per available seat mile (TRASM), a proxy for pricing power, to be down about 5.5% to 7.5%, compared with the year-earlier period.
Persons: Mike Blake, Robert Isom, Shivansh, Anil D'Silva Organizations: American Airlines Airbus, Los Angeles International, REUTERS, American Airlines, CNBC, Jet, Thomson Locations: Los Angeles , California, U.S, Fort Worth , Texas, Bengaluru
Almost 9 million subscribers joined Netflix around the globe in the third quarter, surpassing Wall Street analysts' forecast for 6 million, according to LSEG. The strong performance showed Netflix was thriving despite Hollywood labor tensions that shut down a large swath of U.S. production. Netflix increased the U.S. price of its premium ad-free plan by $3 per month to $22.99. Substantial subscriber gains came in Europe, the Middle East and Africa, where Netflix added nearly 4 million subscribers. Netflix programming accounted for 8% of television screen time, second only to YouTube, the company said, citing Nielsen data.
Persons: Ted Sarandos, Sarandos, Paolo Pescatore, Mike Blake, Prince Harry's, Meghan Markle, Lisa Richwine, Aurora Ellis, Bill Berkrot, Leslie Adler Organizations: Netflix, Wall Street, Comcast, Brothers, Investors, REUTERS, USA, YouTube, Nielsen, Thomson Locations: United States, Britain, France, Los Angeles , California, U.S, Europe, East, Africa
Gavin Newsom, governor of the State of California, speaks at the 2023 Milken Institute Global Conference in Beverly Hills, California, U.S., May 2, 2023. REUTERS/Mike Blake/File Photo Acquire Licensing RightsOct 19 (Reuters) - California governor Gavin Newsom will visit China next week to discuss climate cooperation, promote bilateral economic development and tourism and encourage cultural exchanges, his office said in a statement on Thursday. "California and China hold the keys to solving the climate crisis," Newsom said. California has played a major role in maintaining climate ties between China and the United States, the world's two biggest greenhouse gas emitters. China and the United States relaunched top-level bilateral climate talks earlier this year after a hiatus triggered by the visit of former House of Representatives Speaker Nancy Pelosi to Taiwan, the democratically governed island that China claims.
Persons: Gavin Newsom, Mike Blake, Newsom, Donald Trump, Xie Zhenhua, Jerry Brown, Nancy Pelosi, Xie, John Kerry, David Stanway, Christopher Cushing Organizations: of, Milken, Global Conference, REUTERS, China Climate Institute, Beijing's Tsinghua University, United States, U.S, Dubai, Thomson Locations: of California, Beverly Hills , California, U.S, California, China, Hong Kong, Beijing, Shanghai, Jiangsu, Guangdong, . California, United States, Paris, Taiwan, Singapore
The top 10 things to watch in the stock market Thursday
  + stars: | 2023-10-19 | by ( Jeff Marks | ) www.cnbc.com   time to read: +3 min
As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Jerome Powell's, Goldman, Morgan Stanley's Adam Jonas, we've, Morgan Stanley, Crag Jelinek, Ron Vachris, Oppenheimer, Says, downgrades, Jim Cramer's, Jim Cramer, Jim, Mike Blake Organizations: Treasury, Netflix, Vegas, Wynn Resorts, WYNN, Disney, Entertainment, Sports, ESPN, Bloomberg, Devon Energy, Costco, Jefferies, Deutsche Bank, Starbucks, Jim Cramer's Charitable, CNBC, Reuters Locations: Macao, Singapore, Los Angeles , California
Rentokil may be next to nibble at US listing
  + stars: | 2023-10-19 | by ( ) www.reuters.com   time to read: +2 min
REUTERS/Mike Blake Acquire Licensing RightsLONDON, Oct 19 (Reuters Breakingviews) - Rentokil (RTO.L) is an obvious contender to ditch its London listing in favour of the U.S. CEO Andy Ransom said that it is getting harder to win new business due to “the macroeconomic backdrop”. Rollins is valued on nearly 38 times its forward earnings, versus Rentokil which was trading on just 23 times before Thursday’s fall, according to LSEG data. With Rentokil shareholders a little ratty, Ransom may come under more pressure to consider ways of pepping up the stock, like ditching London in favour of the more highly valued U.S. market. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
Persons: Mike Blake, Andy Ransom, Ransom, Rollins, Aimee Donnellan, Jean, Pierre Mustier, Atos, Larry Fink, Uncle Sam, Neil Unmack, Oliver Taslic Organizations: REUTERS, Reuters, U.S, X, News Corp, Thomson Locations: Los Angeles , California, U.S
[1/2] The Netflix logo is shown on one of their Hollywood buildings in Los Angeles, California, U.S., July 12, 2023. The company picked up nearly 9 million new customers around the globe, surpassing the 6 million consensus forecast of Wall Street analysts surveyed by LSEG. The one-stream basic plan rose by $2 per month. GLOBAL PRICE HIKESIn Britain, Netflix increased the basic plan price by 1 pound to 7.99 pounds. Netflix projected fourth quarter revenue of $8.69 billion fell slightly below the $8.77 billion forecast of analysts polled by LSEG.
Persons: Mike Blake, Walt Disney, Paolo Pescatore, Lisa Richwine, Aurora Ellis Organizations: REUTERS, Netflix, Street, LSEG, Investors, Warner Bros Discovery, LSEG . Media, YouTube, Nielsen, Thomson Locations: Los Angeles , California, U.S, United States, Britain, France, Hollywood
Disney to break out sports revenue in financial reports
  + stars: | 2023-10-18 | by ( ) www.reuters.com   time to read: +1 min
A sign is shown at one of the entrances to Disney Studios in Burbank, California, U.S., July 25, 2023. REUTERS/Mike Blake/File photo Acquire Licensing RightsOct 18 (Reuters) - Walt Disney (DIS.N) will break out its sports programming revenue from the fourth quarter onwards following a restructuring of the company announced earlier this year, the media firm said on Wednesday. Results from Disney's media and entertainment business will be reported in two segments: entertainment and sports. The move comes as Disney scouts strategic partners for its sports network ESPN. The company in February announced a sweeping restructuring that created three internal units and included trimming the company's workforce by nearly 4%.
Persons: Mike Blake, Walt Disney, Yuvraj Malik, Devika Organizations: Disney Studios, REUTERS, Sports, ESPN, Disney, Reuters, Thomson Locations: Burbank , California, U.S, India, Bengaluru
Mike Blake | ReutersIn theory, getting inflation closer to the Federal Reserve's 2% target doesn't sound terribly difficult. The main culprits are related to services and shelter costs, with many of the other components showing noticeable signs of easing. watch nowInstead, getting better control of rents, medical care services and the like could take ... well, you might not want to know. Policymakers have been banking on the notion that when existing rental leases expire, they will be renegotiated at lower prices, bringing down shelter inflation. He added that the CPI report "is a reminder that we do not have good historic examples to lean on" for long-term patterns in rent inflation.
Persons: Mike Blake, Steven Blitz, Goldman Sachs, Lisa Sturtevant, Christopher Bruen, Marta Norton, Stephen Juneau, Juneau Organizations: Reuters, GlobalData, Street, Cleveland Fed, Bright MLS, Housing, Americas, Morningstar Wealth, Bank of America Locations: Rancho, San Diego , California, Maryland, Stephen Juneau , U.S
Ericsson $3 bln hit ticks most boxes for M&A folly
  + stars: | 2023-10-12 | by ( ) www.reuters.com   time to read: +2 min
REUTERS/Mike Blake Acquire Licensing RightsLONDON, Oct 12 (Reuters Breakingviews) - Börje Ekholm’s overpriced M&A has come home to roost. The $15 billion Swedish telco equipment maker’s chief executive said on Wednesday he was writing down 50% of the value of software company Vonage. While the 32 billion Swedish crowns ($3 billion) hit is a non-cash impairment, Vonage remains a major goof. Ericsson bought it for $6.2 billion as recently as November 2021, in cash, and the deal only closed three months ago. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
Persons: Mike Blake, Breakingviews, Ekholm, Karen Kwok, George Hay, Streisand Neto Organizations: T's, REUTERS, Reuters, Ericsson, Deutsche Telekom, Reuters Graphics Reuters, X, Qantas, Thomson Locations: San Diego , California, U.S, Brussels
When her husband, a UPS truck driver, nearly died from heatstroke, Theresa Klenk stepped in to help workers negotiate for air conditioning in all UPS trucks. At the time, she said, no UPS drivers wanted to speak up about the increasingly brutal conditions for fear of being reprimanded. According to UPS, drivers stop on average every three minutes — barely enough time for air-conditioning to make a dent. This year’s record heat caused dozens of deaths, filled some hospitals to pandemic levels and prompted government warnings about avoiding extended exposure to heat. It was a bittersweet victory for Jim and Theresa Klenk.
Persons: Jim Klenk, Klenk, Theresa Klenk, hadn’t, Jim, Theresa, Jim didn’t, , Zoe Todd, Jim’s, Joe Raedle, Jordan Barab, , Michael Dwyer, Memphis , Tennessee —, Theresa said, didn’t, weren’t, ” Theresa, Mike Blake, Sean O’Brien, doesn’t, ” — CNN’s Clare Duffy Organizations: New, New York CNN, UPS, Teamsters, , CNN, Occupational Safety, Health Administration, OSHA, US Chamber of, Bureau of Labor Statistics, US Postal Service, FedEx, Amazon, Kroger, Teamster Locations: New York, Freehold , New Jersey, heatstroke, Miami, Texas, Memphis , Tennessee, Atlanta, , L.A
SAG-AFTRA actors and Writers Guild of America (WGA) writers walk the picket line outside Disney Studios in Burbank, California, U.S., July 25, 2023. Members of the SAG-AFTRA actors union walked off the job in July and were meeting studio negotiators again on Monday to try to reach an agreement. The Alliance of Motion Picture and Television Producers (AMPTP), which represents Walt Disney (DIS.N), Netflix (NFLX.O) and other media companies, said the contract "represents meaningful gains and protections for writers." "It is important progress for our industry that writers are back to work," the group said in a statement. Negotiators for the SAG-AFTRA actors union continued contract talks with studios on Monday.
Persons: Mike Blake, Meredith Stiehm, Walt Disney, Jimmy Kimmel, Bill Maher, , Lisa Takeuchi Cullen, Lisa Richwine, Chris Reese, Marguerita Choy Organizations: Writers Guild of America, Disney Studios, REUTERS, WGA, SAG, UPS, Alliance, Television Producers, Walt, Netflix, Milken, Thomson Locations: Burbank , California, U.S, Hollywood, United States, Detroit, California
Tesla Model 3 vehicles are shown for sale at a Tesla facility in Long Beach, California, U.S., May 22, 2023. The price cuts by Tesla - now by about 2.7% to 4.2% - started in January to support sales in an uncertain economy and fend off competition from U.S. automakers such as Ford and China's BYD. The standard Model 3 sedan is now $1,250 cheaper at $38,990, while the Model Y long-range variant costs $2,000 less at $48,490, the automaker's website showed. Overall, the standard Model 3's prices have come down by about 17% since the start of the year, while the Model Y long-range variant has seen a drop of over 26%. The price cuts will also add pressure on the "Detroit Three" as they deal with an unprecedented strike by autoworkers' union.
Persons: Mike Blake, Tesla, autoworkers, Urvi Dugar, Jyoti Narayan, Nilutpal, Shubham Kalia, Akash Sriram, Nivedita Bhattacharjee, Arun Koyyur Organizations: Tesla, REUTERS, U.S, Ford, Toyota, Alpha, Reuters, Thomson Locations: Long Beach , California, U.S, Bengaluru
Former biotech executive Vivek Ramaswamy speaks during the second Republican candidates' debate of the 2024 U.S. presidential campaign at the Ronald Reagan Presidential Library in Simi Valley, California, U.S. September 27, 2023. REUTERS/Mike Blake/File Photo Acquire Licensing RightsWASHINGTON, Oct 5 (Reuters) - The Grinnell Police Department on Thursday denied reports that protesters in Iowa ran their vehicle into U.S. Republican presidential candidate Vivek Ramaswamy's car during a campaign stop, but said his car was hit by accident. "It was reported on social media that two protesters intentionally rammed into Ramaswamy's vehicle and fled the scene. It said a local resident was leaving a restaurant when she accidentally hit Ramaswamy's vehicle while backing out of a parking spot. It is unclear whether the image is of Ramaswamy's car.
Persons: Vivek Ramaswamy, Ronald Reagan, Mike Blake, Vivek Ramaswamy's, Ramaswamy, Donald Trump, Ron DeSantis, Trump, Jasper Ward, Sandra Maler, Sonali Paul Organizations: Republican, Ronald Reagan Presidential, REUTERS, Rights, Grinnell Police, Reuters, Republicans, Thomson Locations: Simi Valley , California, U.S, Iowa
Tesla slashes prices of Model 3, Models Y vehicles in US
  + stars: | 2023-10-06 | by ( ) www.reuters.com   time to read: +1 min
Tesla Model 3 vehicles are shown for sale at a Tesla facility in Long Beach, California, U.S., May 22, 2023. Tesla cut the prices for its Model 3 sedan to $38,990 from $40,240, while the price for its Model Y long-range vehicle was cut to $48,490 from $50,490, the website showed. The company also cut prices for its Model Y performance variant to $52,490 from $54,490. Prices for the higher-priced Model S and Model X did not change either. This is the first time that the EV maker has cut prices of any of its models in the U.S. since early September, when it slashed the prices for its premium Model S and Model X cars.
Persons: Mike Blake, Elon Musk, Tesla, Urvi, Rashmi Aich Organizations: Tesla, REUTERS, Thomson Locations: Long Beach , California, U.S, Bengaluru
A Kaiser Permanente health care center is pictured in Anaheim, California, U.S., October 3, 2023 as more than 75,000 Kaiser Permanente healthcare workers could go on strike from Oct. 4 to Oct. 7 across the United States. REUTERS/Mike Blake Acquire Licensing RightsCompanies Kaiser Permanente FollowOct 4 (Reuters) - Healthcare workers launched a planned three-day strike at Kaiser Permanente facilities on Wednesday, even as the union and the company said talks were continuing. Strikes have begun in Virginia and Washington, with additional strikes set to begin later in the day on the West Coast. Union officials said the planned strike against Kaiser, one of the nation's leading not-for-profit healthcare networks and managed-care organizations, would mark the largest strike ever in the U.S. medical industry. Staffing levels have been a major sticking point, with the union insisting Kaiser needs to hire 10,000 new healthcare workers to fill current vacancies.
Persons: Mike Blake, Kaiser, Ahmed Aboulenein Organizations: Permanente, REUTERS, Healthcare, Kaiser Permanente, West Coast . Union, D.C, U.S . Bureau of Labor Statistics, Thomson Locations: Anaheim , California, U.S, United States, Virginia, Washington, West Coast, California , Oregon, , Colorado, California , Colorado , Oregon
[1/2] A Kaiser Permanente health care center is pictured in Anaheim, California, U.S., October 3, 2023 as more than 75,000 Kaiser Permanente healthcare workers could go on strike from Oct. 4 to Oct. 7 across the United States. REUTERS/Mike Blake Acquire Licensing RightsCompanies Kaiser Permanente FollowWASHINGTON, Oct 3 (Reuters) - Kaiser Permanente appeared headed for a labor clash with 75,000 of its healthcare workers as union leaders said contract talks had stalled on Tuesday, leaving the two sides hours away from a threatened three-day strike in several states. Kaiser said its hospitals and emergency departments would remain open in the event of a strike, staffed by doctors, managers and other non-union "contingency workers." As of Tuesday, the Coalition of Kaiser Permanente Unions said the healthcare giant had yet to offer acceptable terms to address severe staffing shortages, or to embrace adequate improvements in pay and benefits sought by the workers. Staffing levels have been a major sticking point, with the union insisting Kaiser needs to hire 10,000 new healthcare workers to fill current vacancies.
Persons: Mike Blake, Kaiser Permanente, Kaiser, Caroline Lucas, Hilary Costa, Ahmed Aboulenein, Steve Gorman, Bill Berkrot, Gerry Doyle Organizations: Kaiser Permanente, Permanente, REUTERS, D.C, Union, Coalition, Kaiser Permanente Unions, Kaiser, U.S . Bureau of Labor Statistics, Thomson Locations: Anaheim , California, U.S, United States, California , Oregon, Washington, , Colorado, Virginia, Georgia, Hawaii, California , Colorado , Oregon, Los Angeles
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