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☆ What to watch for in the Michigan presidential primaries
▼ + stars: | 2024-02-27 | by ( Gregory Krieg | Eric Bradner | ) edition.cnn.com time to read: +10 min

“This is not an anti-Biden campaign,” Layla Elabed, a leader of the Listen to Michigan campaign, told CNN. Here’s what to watch for in Michigan:The first ballot test of Biden’s Israel strategyJust how committed are Michigan Democrats to Biden? Republicans opposed an earlier Michigan primary, and it violated Republican National Committee rules limiting which states can hold contests before March 1. After Democrats who control the legislature and the governor’s office moved the Michigan primary to February 27 despite GOP opposition, the RNC and Michigan GOP came up with the hybrid model. Tests for Biden, Trump in key stateThe drama within both the Democratic and Republican contests is playing out in one of the nation’s most important presidential swing states.

Persons: Joe Biden’s, Israel –, Health –, Israel, Biden, Donald Trump, Hillary Clinton, uncommitted, ” Layla Elabed, “, It’s, ”, Nikki Haley, Trump, –, Haley, Benjamin Netanyahu’s, Netanyahu, Abdullah Hammoud, Joe Biden, Franklin Delano Roosevelt, ” Hammoud, Biden –, ” Biden, Seth Meyers, “ We’re, it’s, —, Pete Hoekstra, Kristina Karamo, Hoekstra, Gretchen Whitmer Organizations: CNN, Hamas, Health, Biden, Republican, Trump, South Carolina Gov, Republicans ’, GOP, Michigan Democrats, Gaza’s Ministry of Health, United Nations, White, Dearborn, New York Times, ” Movement, ” CNN, Michigan Republican, Michigan, Republicans, Committee, RNC, Michigan GOP, Democratic, United Auto Workers, Black Locations: Michigan, Gaza, Dearborn, South Carolina, Israel, United States, Trump, — demoting Iowa, New Hampshire, Nevada, Grand Rapids, Detroit, Pennsylvania, Wisconsin

☆ A look into Michigan’s economic prospects as automotive jobs see a decline
▼ + stars: | 2024-02-27 | by ( Chris Isidore | Tami Luhby | ) edition.cnn.com time to read: +11 min

Jobs in the state’s auto plants, parts factories and corporate offices shrank by 35% since 1990, according to figures from the Bureau of Labor Statistics. And those jobs make up only 3.7% of the jobs in the state, roughly half what it was in 1990. Some of the auto jobs disappeared because of automation. “But it is still the cornerstone of the Southeast Michigan economy. The categories understate the importance.”But other segments of the Michigan economy now rival autos.

Persons: –, Stellantis, Jeff Kowalsky, Patrick Anderson, “ I’m, ” Anderson, Brian Peters, Peters, ” Peters, Anderson, Bill Pugliano, Gretchen Whitmer, Whitmer, there’s, ”, Monique Stanton, Stanton, ” Stanton, Matthew Hatcher, Donald Trump, Joe Biden Organizations: New, New York CNN, Republican, Democratic, Bureau of Labor Statistics, Motors, Ford, Fiat Chrysler —, GM, Fiat Chrysler, Getty, Anderson Economic Group, Michigan Center for Data, Michigan Health & Hospital Association, Health, Big, Chrysler, United Auto Workers, General Motors, North, Gov, Census, ICE, Michigan, Michigan League, Public, Missouri Economic Research, Information, Fox News, Democrats, Shoppers, Bloomberg, Washington Post, Monmouth University Locations: New York, Michigan, Mexico, Southern, Edmunds, Dearborn , Michigan, AFP, Southeast Michigan, Lansing , Michigan, North America, Marshall , Michigan, Florida, Texas, Illinois, California, Living, Somerset, Troy , Michigan

☆ Biden and Trump win Michigan primaries
▼ + stars: | 2024-02-27 | by ( Eric Bradner | ) edition.cnn.com time to read: +6 min

CNN —President Joe Biden and former President Donald Trump won their respective parties’ primaries in Michigan on Tuesday. “We demand President Biden to take action now – bring a permanent ceasefire,” said Layla Elabed, the campaign manager for the group. The Michigan primary was moved up near the front of the Democratic presidential nominating calendar this year. Biden defeated Trump in Michigan by about 150,000 votes four years later. After Democrats, who control the state Legislature and the governor’s office, moved the Michigan primary to February 27 despite the Republican opposition, the RNC and Michigan GOP came up with the hybrid model.

Persons: Joe Biden, Donald Trump, Biden, Trump’s, Nikki Haley’s, “, ”, Rashida Tlaib, Andy Levin, Vermont Sen, Bernie Sanders ’, Sanders, Layla Elabed, ” Biden, ” Elabed, It’s, Gretchen Whitmer, you’ve, Trump, —, Pete Hoekstra, Kristina Karamo, Hoekstra, CNN’s Arit John, Dianne Gallagher, Jeff Zeleny Organizations: CNN, Democratic, South Carolina Gov, Muslim, Michigan Rep, America, Trump, Michigan, White House, Biden, Israel, Michigan —, United Auto Workers, UAW, Michigan GOP, Michigan Republicans, Republican, Committee, RNC Locations: Michigan, Gaza, Vermont, Iowa, New Hampshire, Dearborn, United States, Palestinian American, — demoting Iowa, South Carolina, Nevada, Netherlands, Grand Rapids, Detroit

☆ Joe Biden wins Michigan Democratic primary, NBC projects
▼ + stars: | 2024-02-27 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +2 min

President Joe Biden has won the Michigan Democratic presidential primary, NBC News projects. The incumbent president's victory was widely anticipated in the key swing state due to an uncompetitive Democratic field and Biden's successful Michigan track record. In 2020, Biden also won the primary and general election in Michigan. Despite Biden's attempted rivals, his win in Michigan solidifies the going message that the Democratic primary is all but over. Before Michigan, Biden locked up a landslide victory in South Carolina's Democratic primary and before that, an unofficial win in New Hampshire via write-in votes.

Persons: Joe Biden, George Merrelli, Biden, Dean Phillips, Phillips, Biden's, Donald Trump Organizations: autoworkers, United Auto Workers, UAW, George, George Merrelli Technical Training, Michigan Democratic, NBC, Democratic, Democratic National Committee, Biden, Michigan, House Rep, Before Michigan, South Locations: Warren, Detroit, Michigan, U.S, Gaza, Biden's, Before, New Hampshire

☆ China, Xi Jinping Plan to Crush Elon Musk, Tesla, and the US EV Industry
▼ + stars: | 2024-02-25 | by ( Linette Lopez | ) www.businessinsider.com time to read: +13 min

If China EV Inc. were allowed to enter the US today or next year, the legacies would be gutted." The year Musk tittered at the idea of Chinese EVs overtaking Tesla, the country produced only 5,000 electric cars. It has more trade barrier protection from a China Auto Inc. onslaught, but it may not work forever. AdvertisementWe want to maintain an auto industry in the US — that's essential for jobs, national security, and for other sectors of the economy. Sure, Chinese EV makers are lean and mean, but they've never had to deal with international markets before.

Persons: Elon Musk, Warren Buffett, Le, haven't, carmakers, Jim Farley, Tesla, Xi, Andy Wong, Xi Jinping, Li Auto, BYD, Trump, Mary Lovely, Joe Biden's, Biden, it's, Lovely, they've Organizations: Tesla, Bloomberg TV, America's, GM, Ford, Sino, EV, China EV Inc, ascendance, Chery, US, Chinese Communist Party, CCP, Companies, SAIC, Energy Department, China Auto Inc, Peterson Institute, United Auto Workers, White, Auto Locations: Chinese, China, Beijing, Japan, Europe, North America, Brussels, Washington, Hungary, Mexico, Canada, America

☆ Trump heads to Michigan with eyes on a Biden rematch but legal woes loom over campaign
▼ + stars: | 2024-02-17 | by ( Steve Contorno | Kristen Holmes | ) edition.cnn.com time to read: +8 min

A 2020 election denier’s tumultuous reign atop the Michigan Republican Party had only recently begun. Since then, the strike has ended and the top union representing Michigan autoworkers, United Auto Workers, has endorsed President Joe Biden. State party turmoilAhead of his visit, Trump and his allies sought to put an end to turmoil within the Michigan Republican Party, which has faced a reckoning over its readiness for the 2024 election. The state party ousted its chair, Kristina Karamo, last month in the face of internal strife and lackluster fundraising. The recent Fox News survey from Michigan found Biden leading Trump 53% to 41% among union households.

Persons: Donald Trump, Trump, Joe Biden, Nikki Haley –, Stormy Daniels, Friday’s, “, Biden, Hillary Clinton’s, Haley, Kristina Karamo, Pete Hoekstra, Hoekstra, Democratic Sen, Debbie Stabenow, ”, Jason Cabel Roe, it’s, – Trump, Trump’s, Shawn Fain, ” Trump, Fain, ” Fain, Cabel Roe, “ There’s Organizations: CNN, Michigan, Republican, GOP, Michigan Republican Party, Michigan autoworkers, United Auto Workers, Republicans, South Carolina Gov, Michigan GOP, Trump, Fox, Sneaker Con, South Carolina Army National Guard, Republican National, White House, Democratic, doesn’t, Republican Party, Biden, Big, Teamsters, UAW Locations: California, Michigan, New, York, ”, Georgia, Waterford Township, Detroit, Waterford, Trump’s Michigan, –, Philadelphia, South Carolina, State, Netherlands, Washington ,, Wisconsin, Pennsylvania

DETROIT (AP) — The United Auto Workers union is threatening to go on strike next week at Ford Motor Co.'s largest and most profitable factory in a dispute over local contract language. The union said Friday that nearly 9,000 workers at the Kentucky Truck Plant in Louisville will strike on Feb. 23 if the local contract dispute is not resolved. If there's a strike, it would be the second time the union has walked out at the sprawling factory in the past year. In October, UAW workers shut down the plant during national contract negotiations that ended with large raises for employees. The union says that workers have been without a local contract for five months.

Persons: Jim Farley, Farley, Ford Organizations: DETROIT, United Auto Workers, Ford Motor Co, Kentucky, Plant, UAW, Ford, Lincoln, General Motors, U.S, Rivals General Motors Locations: Louisville, New York, U.S, Mexico

☆ UAW threatens to strike Ford truck plant in Kentucky if local issues aren't resolved
▼ + stars: | 2024-02-16 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

DETROIT – The United Auto Workers is threatening a labor strike at Ford Motor's largest U.S. plant if local union demands aren't resolved by next week. The Detroit union on Friday said nearly 9,000 UAW autoworkers at Ford's Kentucky Truck Plant could strike at 12:01 a.m. on Feb. 23 if local contract issues remain. The plant — Ford's largest in terms of employment and revenue — produces Ford Super Duty pickups as well as the Ford Expedition and the Lincoln Navigator SUVs. Local contracts differ from the national agreements that the union ratified late last year with Ford, General Motors and Chrysler parent Stellantis . The union said "core issues in Kentucky Truck Plant's local negotiations are health and safety in the plant, including minimum in-plant nurse staffing levels and ergonomic issues, as well as Ford's continued attempts to erode the skilled trades at Kentucky Truck Plant."

Persons: Shawn Fain, aren't, Ford's Organizations: United Auto Workers, Detroit, DETROIT –, Ford Motor's, UAW, Ford, Ford Expedition, Lincoln, General Motors, Chrysler, Kentucky Locations: Kentucky

☆ Jeep, Dodge-maker Stellantis' profit slides as Detroit Three strikes bite
▼ + stars: | 2024-02-15 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

(L-R) United Auto Workers (U.A.W.) members Kaleb Delfine, Bryan Broecker, Michael Gatto and James Triplett picket outside the Jeep Plant on September 18, 2023 in Toledo, Ohio. Global auto giant Stellantis on Thursday reported a 10% year-on-year fall in profit in the second half of 2023, as six-week strikes at the so-called "Detroit Three" automakers hampered production in the group's North American profit epicenter. Adjusted operating income (AOI) came in at 10.2 billion euros ($10.96 billion) for the July to December period, down from 11.3 billion euros for the same period in 2022. Stellantis reported in late October that labor strikes by the United Auto Workers union, which ran for six weeks from Sept. 15 and also targeted General Motors and Ford Motor , cost the company $3.2 billion in revenue through October.

Persons: Kaleb Delfine, Bryan Broecker, Michael Gatto, James Triplett, Stellantis Organizations: United Auto Workers, Jeep, Global, Reuters, Stellantis, United Auto Workers union, Motors, Ford Motor Locations: Toledo , Ohio, American, Europe, North America

☆ Boeing Disaster Proves Americans Businesses Greedy Mentality Is Broken
▼ + stars: | 2024-02-11 | by ( Linette Lopez | ) www.businessinsider.com time to read: +16 min

They expose decades of American corporate philosophy gone awry. A good American company isn’t just a vehicle for financial returns; it is first and foremost an employer, a contributor to economic and/or technological innovation, and a source of US power. But it’s clear that what Boeing — and the entire American corporate body politic — needs is nothing short of a philosophical counterrevolution. Over these three decades of plenty for Boeing’s shareholders, the company’s staff was asked to penny-pinch. Boeing’s stock cratered, and France’s Airbus , a rival once colloquially known as “Scare Bus,” started to eat the American company’s lunch .

Persons: it’s, could’ve, William Lazonick, “, It’s, won’t, William McGee, T.A, Wilson, Frank Shrontz, Max, Peter Robison, —, ”, Dave Calhoun, we’ve, Scott Kirby, hasn’t, “ We’re, Lazonick, wasn’t, Milton Friedman, Michael Jensen, Jensen, nary, Jack Welch, Welch, Wall, ” Lazonick, We’ve, Mary Barra, ” McGee Organizations: Alaska Airlines, Boeing, Investments, University of Massachusetts, ”, NASA, Airbus, Alaska Airlines Max, Wall, United Airlines, Federal Aviation Administration, CNBC, Washington, University of Chicago, Electric, Wall Street, GE, Dow Jones, Securities and Exchange Commission, Reality Labs, Deutsche Bank, Business, General Motors, United Auto Workers, Companies, GM, & $ Locations: Washington, America

☆ CNBC Daily Open: U.S. CEOs turn positive on the economy
▼ + stars: | 2024-02-09 | by ( Sumathi Bala | ) www.cnbc.com time to read: +2 min

US President Joe Biden speaks about the economy and the deal between the United Auto Workers (UAW) Union and the big-three automakers, in Belvidere, Illinois, on November 9, 2023. This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Nikkei fresh highsJapan's Nikkei hit new highs on Friday, while most markets in the region were either fully or partially closed for Lunar New Year holidays. Biden pushes backU.S. President Joe Biden in a White House address said his "memory is fine," and disputed a special counsel's claims that he willfully retained classified material at his Delaware home.

Persons: Joe Biden, Dow, Sissie Hsiao, Bard, Biden, Donald Trump, David Sekera Organizations: United Auto Workers, UAW, Union, CNBC, Nikkei, Nasdaq, Google, Bard, Gemini, Bank of Japan, Nevada Republican, NBC Locations: Belvidere , Illinois, Delaware

☆ Tesla workers still make less than those at Ford and GM, despite recent raises
▼ + stars: | 2024-02-09 | by ( Nora Naughton | Grace Kay | ) www.businessinsider.com time to read: +5 min

Even with a raise, Tesla workers don't make as much as union-represented workers. AdvertisementTesla recently gave some of its factory workers raises, but union-represented workers at Detroit’s Big Three will still make a lot more per hour. According to internal documents reviewed by Business Insider, new pay guidelines for Tesla workers were implemented on January 8. Why some Tesla workers aren’t focused on UAW payDespite the pay discrepancy, some Tesla workers previously told BI they’d be hesitant to join a union. But the German union IG Metall said last year that some Tesla workers at the company's Brandenburg plant had joined its union.

Persons: —, Tesla, Stellantis, aren’t, Elon, “ It’s, Musk, Metall Organizations: unionizing, UAW, NEW, Service, Business, United Auto Workers, Ford, GM, EV, National Labor Relations Board, NLRB Locations: Buffalo , New York, rehire, company's Brandenburg

☆ Leaked Tesla pay data: How much Elon Musk's factory workers now make across the US after some got raises
▼ + stars: | 2024-02-08 | by ( Grace Kay | ) www.businessinsider.com time to read: +4 min

Read previewTesla hiked pay for factory workers across the US last month. Internal documents viewed by Business Insider reveal how much the factory workers now make. Under the new pay guidelines that were announced in December and implemented on January 8, factory workers at Tesla make between $22 to $39 per hour, according to the internal documents. AdvertisementTesla divides its factory workers into seven levels, while leads are divided into two levels. The effort won't be without its challenges, as CEO Elon Musk has voiced confidence that a union isn't necessary and some Tesla workers previously told BI they'd be hard-pressed to join a union.

Persons: —, Tesla, autoworkers, Shawn Fain, Elon Musk Organizations: Service, Business, Tesla, Fremont, US Bureau of Labor Statistics, Workers, Bloomberg, Toyota, Hyundai, United Auto Workers, Fremont Factory, UAW Locations: Austin , Texas, Sparks , Nevada, Fremont, Palo Alto , California, California, Nevada, Texas

Only 4.4% of Georgia workers are union members, the eighth-lowest rate among states. The National Labor Relations Board, the federal agency overseeing union affairs, did not immediately respond Thursday to an email seeking comment. Democrats, though, say the bill is really about making it harder for unions to organize and for companies to accept them. Sen Mike Hodges, a Brunswick Republican who is sponsoring the bill, denied that it would violate federal law. But Democrats said they think the bill is an attempt to attack federal labor law.

Persons: Brian Kemp, Bill, ”, Hannah Perkins, Kay Ivey, ” Henry McMaster, ’, Joe Biden’s, “, Kemp, you’re, Sen, Bo Hatchett, Cornelia, Nikki Merritt, Merritt, Sen Mike Hodges, Hodges, Jason Esteves, they’re Organizations: ATLANTA, —, Gov, Union, National Labor Relations Act, “, Georgia AFL, National Labor Relations Board, American Legislative Exchange Council, Democratic, United Auto Workers, Alabama Republican Gov, South, Republican, Georgia Gov, Georgia Chamber of Commerce, Georgia Republicans, Cornelia Republican, Senate, Lawrenceville Democrat, Democrats, State, Brunswick Republican, Atlanta Democrat Locations: Georgia, Tennessee, ” Alabama, South Carolina, Indiana, Arizona, Atlanta

WASHINGTON (AP) — President Joe Biden is sending several senior aides to Michigan to meet with Arab American and Muslim leaders, according to three people familiar with the matter, as his administration's handling of the Israel-Hamas war frustrates members of a key constituency in a 2024 battleground state. Also expected to attend are Tom Perez, who leads the Office of Intergovernmental Affairs, as well as Mazen Basrawi, the White House liaison to American Muslim communities, and aides Jamie Citron and Dan Koh. Siblani was one of the few Arab American leaders to meet with Rodriguez when she visited Dearborn at the end of January. The White House says administration officials have been in regular contact with Muslim and Arab American leaders in Michigan and across the country. He did not meet with Arab American and Muslim community members.

Persons: Joe Biden, Samantha Power, Jon, Steven Benjamin, Tom Perez, Basrawi, Jamie Citron, Dan Koh, Julie Chavez Rodriguez, ”, Osama Siblani, “ I’m, ” Siblani, Siblani, Rodriguez, Alabas Farhat, “, ” Farhat, Farhat, “ it’s, Debbie Dingell, Biden, I’ve, ” Dingell, Biden hasn't, Abdullah Hammoud, ” ___ Cappelletti Organizations: WASHINGTON, U.S . Agency for International Development, Public, White, Intergovernmental Affairs, Biden, Arab American News, Associated, AP, U.S . Rep, Health Ministry, CNN, United Auto Workers, Palestinian, UAW, Dearborn Locations: Michigan, Israel, American, Detroit, Dearborn , Michigan, Gaza, Dearborn, White, Arab, Eastern, The U.S, Warren, Lansing , Michigan

The Dearborn, Michigan, automaker posted a $523 million net loss from October through December versus a $1.26 billion profit for the same period a year ago. Ford reported a $1.7 billion noncash accounting loss during the quarter on remeasurement of pension and other post-retirement employee benefits. UAW workers shut down the company’s largest and most profitable factory in Louisville, Kentucky, which makes big SUVs and heavy-duty pickup trucks. The UAW strike began Sept. 15, targeting assembly plants and other facilities at Ford, General Motors and Jeep maker Stellantis. At the end of the contract, top-scale assembly workers will make about $42 per hour, plus they’ll get annual profit-sharing checks.

Persons: —, Ford Organizations: DETROIT, — Ford Motor Co, United Auto Workers, Wall, FactSet, Revenue, UAW, Ford, General Motors Locations: Dearborn , Michigan, Louisville , Kentucky

☆ Ford rewards shareholders, projects big profit jump despite cost of UAW deal
▼ + stars: | 2024-02-06 | by ( Chris Isidore | ) edition.cnn.com time to read: +2 min

New York CNN —Last fall Ford agreed to a big raise for striking members of the United Auto Workers union. The company announced it would give shareholders a second, supplemental dividend that will more than double the regular dividend they usually receive. Even with the drop in fourth-quarter earnings, full-year earnings at Ford rose to $8.1 billion from $7.6 billion for 2022. The high end of that range would reflect record profits by that measure for the company, said Ford CFO John Lawler. Ford is the second automaker to increase payouts to shareholders since reaching the deal with the UAW.

Persons: Ford, John Lawler, “, Jim Farley, Farley Organizations: New, New York CNN, United Auto Workers, Ford, UAW, Ford Motor, GM Locations: New York

The president has been in Las Vegas since Sunday for campaign appearances ahead of the state's Democratic primary on Tuesday. The Culinary Workers Union, which represents hospitality workers, says it has reached a tentative agreement with six more downtown hotel-casinos and called off a strike deadline for another. Photos You Should See View All 45 ImagesBiden recently was endorsed by the United Auto Workers union. The San Francisco 49ers and Kansas City Chiefs will face off at Allegiant Stadium in Las Vegas on Sunday. The NFL’s 58th Super Bowl is expected to bring 330,000 people to Las Vegas this week, according to the Las Vegas Convention and Visitors Authority.

Persons: Joe Biden, Biden, “, ” Organizations: LAS VEGAS, Las, Democratic, The Culinary Workers Union, Culinary, United Auto Workers, Super, San Francisco 49ers, Kansas City Chiefs, Allegiant, Las Vegas Convention, Visitors Authority Locations: Las Vegas, Washington, Nevada, America

Story highlights Biden goes to Michigan to meet with UAW members a week after receiving the union's endorsement Trump and Biden are battling for the votes of union members. While in Michigan on Thursday, the president will be meeting with UAW members, a Biden campaign official told CNN. The event, at a union hall near Detroit, will feature an “informal” conversation with union members, according to the campaign. In a fiery speech while delivering the group’s endorsement, UAW President Shawn Fain said Biden was the clear choice in a matchup with Trump. Since the group publicly backed Biden, Trump has hit back, slamming Fain as a “dope” and vowing that he could revive the automobile industry in the United States.

Persons: Joe Biden, Donald Trump, Biden, –, Trump, Shawn Fain, “ Joe Biden, ” Fain, ” Biden, “, Fain, Julie Chavez Rodriguez, Dearborn Mayor Abdullah Hammoud, ” Chavez Rodriguez, Rashida Tlaib, Chavez Rodriguez, Biden’s, Karine Jean, Pierre, ”, Jean Pierre Organizations: Washington CNN, United Auto Workers, Michigan, Teamsters, Trump, UAW, Wednesday, Biden, CNN, Democratic Party, Democratic, Dearborn Mayor, ”, White Locations: Michigan, Washington, Detroit, United States, Israel, Gaza, Eastern, California, Virginia

Biden's meeting with UAW workers in the Detroit area will come just days after union President Shawn Fain announced the group's endorsement. said Abdullah Hammoud, the mayor of Dearborn, one of the largest Arab American communities in the nation. Biden is looking to build on that power as he seeks reelection and the state’s critical 15 electoral votes. Photos You Should See View All 45 ImagesHis visit to Michigan comes ahead of the state's Feb. 27 primary. The early endorsement by the UAW was a clear win for Biden, who came to Michigan to stand alongside striking autoworkers last year.

Persons: Joe Biden, Shawn Fain, Fain, — Joe Biden, ”, Abdullah Hammoud, Biden, Pennsylvania —, Donald Trump’s, Debbie Dingell, we've, Julie Chavez Rodriguez, Hammoud, Chavez Rodriguez, Israel, Sherry Gay, “, ” Biden, Worm, Sen, Jeremy Moss, Donald Trump, Joe Biden’s, ” ___ Long, Fatima Hussein Organizations: DETROIT, United Auto Workers, Michigan, UAW, Democratic, White House, Arab, Biden, Teamsters, Wednesday, Health Ministry, Israel, AP VoteCast, Trump, Republican Locations: Gaza, Detroit, Michigan, Israel, Dearborn, . Michigan, Wisconsin, Pennsylvania, U.S, Washington, “ Michigan, Arab, Palestine, Tel Aviv, Grand Rapids, New, Grand Rapids , Michigan

☆ Trump meets with Teamsters as he looks to peel off union voters from Biden
▼ + stars: | 2024-01-31 | by ( Gregory Krieg | Kristen Holmes | ) edition.cnn.com time to read: +7 min

Story highlights Trump is looking to attract union members, who have traditionally voted Democratic. CNN —Former President Donald Trump Wednesday met with Teamsters union leaders and members in Washington as his campaign tries to drive a wedge between President Joe Biden and one of his most loyal constituencies: organized labor. The Teamsters have twice endorsed against Trump, backing Hillary Clinton in 2016 and Biden four years later. “We’re not ceding any territory, any group, any demographic to Joe Biden,” one senior Trump adviser said of the campaign’s outreach to working class voters. The group said Biden had been invited to its headquarters on the same day as Trump.

Persons: Trump, Biden, Donald Trump, Joe Biden, Sean O’Brien, ”, John Palmer, “, ” Trump, Nikki Haley’s, ” Haley, Olivia Perez, Cubas, –, Robert F, Kennedy Jr, Cornel West, Asa Hutchinson, Marianne Williamson, Dean Phillips, ” O’Brien, Shawn Fain, Sean O'Brien, Sara Nelson, Elizabeth Frantz, Reuters O’Brien, Sen, Markwayne Mullin, O’Brien, Mullin, Vermont Sen, Bernie Sanders, Hillary Clinton, “ We’re, Fain, Cole Scandaglia, ” Fain, ” Biden, Kara Deniz, CNN’s Arlette Saenz, MJ Lee Organizations: Democratic, Teamsters, United Auto Workers, CNN, Biden, Trump, United States Army Veteran, Republican, ” Former South Carolina Gov, GOP, UPS, Arkansas Gov, Teamsters Union, UAW, Capitol, Reuters, Oklahoma Republican, Drake Enterprises, Ford, General Motors, National Labor Relations Board, Department of Transportation, Auto Workers, Automobile Manufacturing Industry Locations: Washington, Michigan , Wisconsin, Pennsylvania, Lago, United States, Arkansas, Minnesota, Washington ,, Oklahoma, Vermont, Detroit, Michigan

WASHINGTON (AP) — As he looks past the GOP primary and towards a likely general election rematch against President Joe Biden, Donald Trump will meet with members of the Teamsters Union in Washington Wednesday afternoon as he tries to cut into Biden's support. Trump is hoping to cut into that support as he casts himself as pro-worker and tries to exacerbate longstanding divisions between union leaders and rank-and-file members. While the Teamsters endorsed Biden in 2020 and Hillary Clinton in 2016, O'Brien stressed the union has “a very diverse membership. Wheaton estimates about 30% to 40% of its members voted for Trump in 2020, even though the union endorsed Biden. Teamsters members include UPS drivers, film and television workers, freight operators, members of law enforcement and other government workers.

Persons: Joe Biden, Donald Trump, Biden, Trump, Shawn Fain, “ Shawn Fain, ” Trump, “, Sean O’Brien, ” Biden, Lauren Hitt, Biden “, O’Brien, ”, —, Hillary Clinton, O'Brien, Wheaton, you’re, ” Wheaton, Fain, Nikki Haley, Trump’s, ___ Krisher, Seung Min Kim Organizations: WASHINGTON, GOP, Teamsters Union, Union, Democratic, AP, AFL, United Auto Workers, DJT, Automobile Industry, Workers, Teamsters, Trump, Fox Business, National Labor Relations Board, ”, Cornell University, Wheaton, Republican, UAW, UPS, American Federation of Teachers, American Federation of State, Municipal Employees, Associated Press Locations: Washington, Wisconsin, Michigan, Detroit, California, Wheaton, American Federation of State , County

Late last year, Wall Street investors had bet that a rate cut in March was a near-certainty. Collectively, the policymakers likely feel little urgency to start cutting rates, a point that Chair Jerome Powell may stress in a news conference Wednesday. The unemployment rate, at 3.7%, isn't far above a half-century low. Yet some cracks have begun to appear in the job market and, if they worsen, could spur the Fed to cut rates more quickly. Though the European Central Bank could cut rates as soon as April, many economists think that might not happen until June.

Persons: Joe, Biden, Jerome Powell, they’re, ”, Subadra Rajappa Organizations: WASHINGTON, Federal Reserve, Republicans, Congress, Wall Street, Consumers, General Motors, United Auto Workers, Conference Board, European Central Bank Locations: U.S, United States

And the company predicts a small improvement this year even as it plans for lower vehicle selling prices due to increased discounts. Cost cutting by simplifying engineering and manufacturing saved GM about $1 billion last year, Jacobson said, with another $1 billion expected this year. The company expects EV losses to ease this year and hit low-to-mid single digit profit margins in 2025 as it adds more EVs to its lineup. It also took a $1.7 billion accounting charge on the valuation of its electric vehicle inventory that is going to bring losses, Jacobson said. This year, the company expects $1.3 billion in higher labor costs and is prepared for about a $3 billion hit due to lower prices, Jacobson said.

Persons: Paul Jacobson, “ It's, ” Jacobson, Jacobson Organizations: DETROIT, —, Motors, Detroit, North, United Auto Workers, GM, UAW, Chevrolet Bolt, Cruise, Revenue Locations: North American

☆ Earnings playbook: Your guide to the busiest week of the reporting season
▼ + stars: | 2024-01-28 | by ( Fred Imbert | ) www.cnbc.com time to read: +10 min

What history shows: GM beats earnings estimates 87% of the time, according to data from Bespoke Investment Group. Alphabet is set to report earnings after the close. What history shows: Alphabet averages a 1.45% gain after reporting earnings, Bespoke data shows. What history shows: Amazon exceeds earnings expectations 63% of the time, according to Bespoke. What history shows: Meta shares have risen in three of the last four earnings days, per Bespoke, including a 23.3% rally.

Persons: Bard chatbot, Gus Richard, David Palmer, Palmer, MSFT, Jordan Novet, bode, Leslie Josephs, Max, Alaska's, AAPL, AMZN, Mark Zuckerberg Organizations: Meta, Apple, ., Motors, CNBC, Tuesday, United Auto Workers, LSEG, Investment, AMD, Starbucks, Microsoft, Management, Wednesday Boeing, Alaska Airlines, FAA, Boeing, United Airlines, Web, Mizuho Securities, Nvidia Locations: Northland, China, Alaska

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