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☆ United Airlines reaches contracts with better pay for 30,000 ground workers
▼ + stars: | 2023-03-29 | by ( ) www.reuters.com time to read: +1 min

March 29 (Reuters) - United Airlines Holdings Inc (UAL.O) CEO Scott Kirby said on Wednesday the carrier has reached an agreement in principle with a workers union over new contracts that include higher wages for its nearly 30,000 ground workers. The pacts come as airlines strive to retain workers with attractive pay and benefits after a faster-than-expected rebound in U.S. travel demand following the pandemic triggered a shortage. Members covered by the tentative agreements would get more details, the union said in a statement, adding that a ratification vote would be scheduled shortly. The agreements cover seven different work classifications at United Airlines, including fleet service workers, passenger service workers, storekeepers, central load planners, maintenance instructors, fleet technical instructors and security officers. Reporting by Nathan Gomes in Bengaluru; Editing by Shweta Agarwal and Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

☆ Hyundai, Kia warn 570,000 U.S. owners to park outside until recalls completed
▼ + stars: | 2023-03-23 | by ( David Shepardson | ) www.reuters.com time to read: +1 min

WASHINGTON, March 23 (Reuters) - Hyundai (005380.KS) and Kia (000270.KS) are recalling just over 570,000 U.S. vehicles over fire risks and urged owners to park outside and away until getting repairs. The automakers said some vehicles with a tow hitch harness could catch fire due to a short circuit. The models covered are 2022-2023 model year Hyundai Santa Cruz, 2019-2023 Santa Fe, 2021-2023 Santa Fe Hybrid, 2022-2023 Santa Fe Plug-in Hybrid, and 2022-2023 Kia Carnival. Hyundai and Kia dealers will install new fuse and wire extension kits to address the issue. Hyundai said as an interim repair, dealers will inspect the tow hitch module and remove the fuse as necessary.

☆ Spring training roundup: Max Fried stays unbeaten, Braves blank Twins
▼ + stars: | 2023-03-20 | by ( ) www.reuters.com time to read: +7 min

Ozuna's home run -- his first of the spring -- came in the third inning and completed the scoring. Twins starter Kenta Maeda (0-1) gave up five runs (all earned) and five hits in four innings. For the Blue Jays, starter Alek Manoah (1-2) gave up one run and five hits in six innings. Rockies 7, Royals (split squad) 0 (six innings)German Marquez tossed five shutout innings as visiting Colorado blanked Kansas City in Las Vegas. Elehuris Montero and Michael Toglia went deep for the Rockies, while Matt Beaty doubled for the Royals' only extra-base hit.

☆ Spring training roundup: Nats score 8 in ninth to beat Astros
▼ + stars: | 2023-03-18 | by ( ) www.reuters.com time to read: +5 min

Blake Rutherford hit an RBI single, Cody Wilson -- who pinch-ran for Arcia -- hit a two-run double and Vargas singled home Wilson. The Yankees had 15 hits, led by Wilmer Difo (2-for-4, home run), Benjamin Cowles (homer) and Estevan Florial (2-for-4, three RBIs). Cardinals 16, Marlins 2Masyn Winn went 3-for-4 with four RBIs and Willson Contreras doubled and went 2-for-3 with three RBIs as St. Louis throttled Miami in Sarasota, Fla. The Cardinals collected 17 hits, with Dylan Carlson contributing two hits, two RBIs and two runs. The Marlins' Jerar Encarnacion went 2-for-3 with one RBI.

CHICAGO, March 14 (Reuters) - U.S. airlines on Tuesday tried to reassure investors about the strength of travel demand, a day after United Airlines (UAL.O) stoked worries about the industry's pricing power. Even as executives in other sectors of the economy have warned of recession risks, airline chief executives until now have remained upbeat as consumer travel demand stayed strong. Delta reaffirmed its first-quarter outlook, saying travel demand is strong and getting stronger. American Airlines (AAL.O) CEO Robert Isom said the Texas-based carrier was enjoying "tremendous" demand. Airline ticket prices have gone up due to persistent capacity constraints and an unending thirst for travel after pandemic-related restrictions ended.

☆ Honeywell company veteran Kapur to replace Adamczyk as CEO
▼ + stars: | 2023-03-14 | by ( ) www.reuters.com time to read: +1 min

He has held several key positions in the company, including CEO of its building technologies as well as performance materials and technologies units. Kapur also oversees the company's operating model, Honeywell Accelerator, which uses various tools, processes and best practices to improve efficiency. Adamczyk, who has been Honeywell's CEO since 2017, will continue to serve as executive chairman and draw a base salary of $1.3 million, the company said in a regulatory filing. Kapur's base salary as CEO will be $1.5 million, Honeywell said. They have risen 61% since Adamczyk became CEO.

☆ GM explores using ChatGPT in vehicles
▼ + stars: | 2023-03-10 | by ( ) www.reuters.com time to read: +1 min

March 10 (Reuters) - General Motors Co (GM.N) is exploring uses for ChatGPT as part of its broader collaboration with Microsoft Corp (MSFT.O), a company executive told Reuters. "ChatGPT is going to be in everything," GM Vice President Scott Miller said in an interview last week. GM in 2021 partnered with Microsoft to accelerate the commercialization of driverless vehicles. Shares of GM were down about 2% on Friday amid a broader drop. Reporting by Nathan Gomes in Bengaluru and Joseph White in Detroit; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

March 9 (Reuters) - General Motors Co (GM.N) on Thursday said it was offering buyouts for most of its salaried employees and global executives and expects to take a pre-tax charge of up to $1.5 billion to cover the costs. GM, whose share fell about 1%, had 58,000 salaried employees at the end of 2022. Eligible employees interested in the voluntary program must sign up by March 24 and those agreeing will leave GM by June 30. The buyouts are separate from job cuts the company made last month. A GM executive in February said the company was cutting hundreds of executive-level and salaried jobs.

☆ DoJ sues to block JetBlue, Spirit Airlines merger
▼ + stars: | 2023-03-07 | by ( ) www.reuters.com time to read: 1 min

March 7 (Reuters) - The U.S. Justice Department filed a lawsuit to stop JetBlue Airways (JBLU.O) from buying Spirit Airlines (SAVE.N), saying that the planned merger "would put travel out of reach for many cost-conscious travelers". [1/7] Spirit Airlines and jetBlue Airways logos in this illustration taken, June 21, 2022. REUTERS/Dado Ruvic/Illustrations 1 2 3 4 5JetBlue prevailed in a months-long bidding war for Spirit Airlines after the ultra-low-cost carrier accepted its $3.8 billion merger offer in late July last year but the acquisition had been expected to face a tough antitrust review from the beginning. Below are the key events of the takeover saga:Reporting by Nathan Gomes and Kannaki Deka in Bengaluru; Editing by Shounak Dasgupta, Anil D'Silva and Sriraj KalluvilaOur Standards: The Thomson Reuters Trust Principles.

☆ If Student Loan Forgiveness Is Overturned by the Supreme Court, Refinancers Are Waiting
▼ + stars: | 2023-03-07 | by ( Thomas Gokey | ) www.businessinsider.com time to read: +16 min

The PSLF program cancels federal student loans for people who work in public-service jobs for 10 years, and the impact of relief is profound. In the process, borrowers forfeit many protections that come with federal student loans, including the chance to get their loans canceled. In one survey, more than one-third of respondents who refinanced their federal student loans said they eventually came to regret it. President Biden announced a plan to cancel $10,000 in student loan debt, but if you privately refinanced, you won't benefit. Most private student loans allow for some kind of "cosigner release" so no one else is on the hook for your loans.

☆ Lockheed resumes final testing of advanced F-35 jet
▼ + stars: | 2023-03-06 | by ( ) www.reuters.com time to read: +1 min

[1/2] The logo of Lockheed Martin is pictured at the Eurosatory international defence and security exhibition in Villepinte, near Paris, France June 13, 2022. REUTERS/Benoit TessierMarch 6 (Reuters) - Lockheed Martin Corp (LMT.N) said on Monday it resumed final testing of its advanced F-35 fighter jets, after the U.S. Government cleared delivery of engines from supplier following a safety conncern. "Safety remains our top priority as we continue to produce the world's most advanced fighter aircraft," Lockheed said. Lockheed Martin sends its new planes on check-out flights before completing paperwork for the final sale to various customers, which includes the U.S. military. Reporting by Nathan Gomes in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

REUTERS/Rebecca Cook/File PhotoMarch 6 (Reuters) - American carmakers will lean on technology to keep the horsepower wars going among their electric muscle cars, a tectonic shift from the big, rumbling motors of the past. GM and Dodge have both issued timelines to stop selling gas-powered muscle cars and replace them with electric variants that will wear the same badges. Dodge's Charger and Challenger muscle cars will not be made next year, while Chevrolet has laid out plans for an electric Corvette. Brands such as Polestar and Mercedes-Benz (MBGn.DE) have announced optional power upgrades to their sedans that improve acceleration and total horsepower via paid OTA (over-the-air) software updates. Dodge has said it will transition its muscle cars to an electric platform, and is working to differentiate those models.

☆ 'Huge hunger cliff' looms, warns expert: Average recipient to get $90 less in food stamps as Covid aid ends
▼ + stars: | 2023-03-02 | by ( Lorie Konish | ) www.cnbc.com time to read: +4 min

watch now"That's a really tight budget if you're talking about low-income families," said Ellen Vollinger, SNAP director at the Food Research and Action Center. The Food Research and Action Center has advocated for congressional legislation to address the problem. Food bank braces for increased demandLos Angeles County Regional Food Bank workers help with food distribution in Willowbrook, California, on April 29, 2021. The food bank has been increasing its food purchases in recent weeks to anticipate increased demand for food assistance, Flood said. In the aftermath of the pandemic's onset in 2020, the food bank was serving 1 million county residents, Flood said.

☆ Student-Debt Relief: Why Refinancing Your Student Loans Is a Trap
▼ + stars: | 2023-02-28 | by ( Thomas Gokey | ) www.businessinsider.com time to read: +15 min

The PSLF program cancels federal student loans for people who work in public-service jobs for 10 years, and the impact of relief is profound. In the process, borrowers forfeit many protections that come with federal student loans, including the chance to get their loans canceled. Recent changes to the law require private student loans to be discharged if you die, but that isn't the case with older loans. Most private student loans allow for some kind of "cosigner release" so no one else is on the hook for your loans. Refinancing companies make the system worse for everyonePrivate refinancing companies don't just hand out their loans to anyone.

☆ Union Pacific shares rise after CEO Fritz to step down amid investor pressure
▼ + stars: | 2023-02-27 | by ( ) www.reuters.com time to read: +2 min

Feb 27 (Reuters) - Shares of Union Pacific Corp (UNP.N) surged nearly 10% before the bell on Monday, a day after the U.S. railroad operator announced that its Chief Executive Lance Fritz would step down this year amid pressure from investor Soroban Capital Partners. The gains came after some Wall Street analysts backed the leadership change at the company, which has struggled with labor shortages and service issues. Union Pacific's shares have dropped more than 25% over the past 10 months. Other analysts said a new leadership has the potential to improve the company's operating ratio — a key profitability metric. In its most-recent quarter, the company flagged higher operating expenses caused by operational inefficiencies and the current economic environment hitting its revenue growth.

[1/3] A U.S. Navy F/A-18 Super Hornet fighter lands on the deck of the USS Ronald Reagan, a Nimitz-class nuclear-powered super carrier, during a joint naval drill between South Korea and the U.S., in the West Sea, South Korea, October 29, 2015. REUTERS/Kim Hong-JiFeb 23 (Reuters) - Boeing Co (BA.N) said on Thursday it plans to stop production of the F/A-18 Super Hornet in late 2025 after delivering the last of the fighter jets, as the aerospace giant shifts focus to winning the race for the sixth-generation of combat aircraft. Trade publication Defense News in 2020 reported that at least one prototype was built and flown by the Air Force. It said production of the F/A-18 jet, which debuted in 1983, could be extended until 2027 if the Super Hornet is selected by the Indian Navy for its future fighter. Reporting by Nathan Gomes in Bengaluru and Valerie Insinna in Washington; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

☆ Norfolk Southern CEO apologizes to Ohio townspeople, vows to 'do what's right'
▼ + stars: | 2023-02-23 | by ( ) www.reuters.com time to read: +3 min

Shaw sat down with people from the town of 4,700 people for the CNN event, repeatedly apologizing and saying, "We're going to do what's right for the community." U.S. and Ohio environmental regulators and the company hired experts who say testing shows the water and air are safe. Norfolk Southern reported net profit of $3.27 billion in 2022 when it paid nearly $1.2 billion in dividends to shareholders and bought back $3.1 billion worth of shares. Insurance will help offset those costs, including a liability policy that will cover up to $1.1 billion in certain situations. Stewart said he was planning to sell his house so he could retire but now his property value had plummeted.

☆ Norfolk Southern wants to 'make things right' after Ohio train crash, CFO says
▼ + stars: | 2023-02-23 | by ( ) www.reuters.com time to read: +2 min

Feb 22 (Reuters) - Norfolk Southern (NSC.N) will take responsibility for cleaning up the environmental damage from this month's train derailment and controlled detonation of hazardous materials in East Palestine, Ohio, its finance chief said on Wednesday. "We take responsibility ... We're fully dedicated to making things right," George said at an investor conference hosted by Barclays. Norfolk Southern will quantify costs of the clean up no later than its first-quarter earnings, he said. The National Transportation Safety Board (NTSB) has said it would release a preliminary report on its initial findings on Thursday into the derailment. He will be joined by representatives from the Federal Railroad Administration and Pipeline and Hazardous Materials Safety Administration.

☆ Carvana's net loss widens on cooling used car demand
▼ + stars: | 2023-02-23 | by ( ) www.reuters.com time to read: +1 min

Companies Carvana Co FollowFeb 23 (Reuters) - Carvana Co (CVNA.N) said on Thursday its net loss rose over nine-fold in the fourth quarter hurt by shrinking demand for pre-owned vehicles, sending its shares down 5% in extended trade. The debt-laden used car retailer has been struggling to sell cars it acquired at elevated rates last year when semiconductor shortages hampered supply of new cars. Carvana, known for its automated car vending machines, allowed users to buy used cars online and offered home deliveries, which made it popular during the COVID-19 pandemic when people were confined to their homes. However, demand of used cars has cooled following an improved availability of new cars and as people look for alternative means to commute in an attempt to trim expenses with a higher interest rates. Carvana posted a fourth-quarter net loss of $806 million, or $7.61 per class A share, up from a loss of $89 million, or $1.02 per class A share, a year earlier.

☆ Norfolk Southern takes responsibility for Ohio crash environment cleanup, CFO says
▼ + stars: | 2023-02-22 | by ( ) www.reuters.com time to read: +2 min

"We take responsibility ... We're fully dedicated to making things right," Mark George, Norfolk Southern's (NSC.N) chief financial officer, said at an investor conference hosted by Barclays. A day earlier, the head of the U.S. Environmental Protection Agency (EPA) ordered Norfolk Southern to "pay for cleaning up the mess" created by toxic chemicals that spewed into the air, water and soil after the accident. Norfolk Southern plans to quantify related costs no later than its first-quarter earnings. The National Transportation Safety Board (NTSB) plans to release a preliminary report on Thursday on its initial findings into the fiery crash. He will be joined by representatives from the Federal Railroad Administration (FRA) Hazardous Materials Safety Administration (PHMSA).

☆ Billionaire investor Jim Chanos says short on GE shares - CNBC
▼ + stars: | 2023-02-22 | by ( ) www.reuters.com time to read: 1 min

Feb 22 (Reuters) - Jim Chanos is short on General Electric Co (GE.N), the billionaire investor said in a CNBC interview on Wednesday. Chanos added the company's fair value was "way below" its current stock price, which pared gains after the comment and was last trading up 0.6% at $82.63. GE in January forecast a lower-than-expected full-year adjusted profit as it struggles with ongoing supply chain disruptions and persistent problems at its money-losing renewable energy business. The short-seller also said he was short on cryptocurrency exchange Coinbase Global Inc (COIN.O), adding it did not seem to have sustainable income sources. Reporting by Nathan Gomes in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

☆ Nipsey Hussle's killer sentenced to at least 60 years in prison
▼ + stars: | 2023-02-22 | by ( Jorge Garcia | ) www.reuters.com time to read: +2 min

Apu Gomes/Pool via REUTERSLOS ANGELES, Feb 22 (Reuters) - A California man was sentenced on Wednesday to at least 60 years in prison for the 2019 killing of Grammy-winning rapper Nipsey Hussle after a chance encounter in the south Los Angeles neighborhood where the men grew up. A jury had found Eric Holder Jr, 32, guilty of first-degree murder in July 2022 for fatally shooting Hussle outside a clothing store the rapper owned. Holder was ordered to serve an additional 10 years in prison for shooting two bystanders. Public defender Aaron Jansen acknowledged that Holder killed Hussle but argued that he should not be convicted of first-degree murder because he said the attack was not pre-meditated. Reporting by Lisa Richwine and Jorge Garcia in Los Angeles Editing by Leslie Adler, Matthew Lewis and David GregorioOur Standards: The Thomson Reuters Trust Principles.

☆ An IT director used ChatGPT for research after phone calls and Google didn't help, and said it 'completely blew my mind'
▼ + stars: | 2023-02-21 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

An IT director used ChatGPT to research vaping detectors and told the WSJ it "completely blew my mind." Critics have expressed concerns about the ethics of AI, including the risk of plagiarism and bias. "It completely blew my mind," Gomes told The Journal. But critics have expressed concerns about the ethics of AI, including worries that it could plagiarize material, develop bias, and even argue with users. Some schools and colleges are banning students from using ChatGPT or are otherwise changing the nature of their assignments to reflect the surge in use of the technology.

☆ Two dozen dead after Brazil rains cause calamity
▼ + stars: | 2023-02-20 | by ( Ana Mano | ) www.reuters.com time to read: +1 min

The Sao Paulo state government confirmed 19 deaths and 566 dislodged or homeless persons after rains of more than 600 millimeters (23.62 inches) pounded the coast of Brazil's richest state. [1/3] An aerial view shows the damage caused by severe rainfall in Ilhabela, Brazil, February 19, 2023, in this picture obtained from social media. Sao Paulo state declared a 180-day state of calamity for six cities after what experts described as an unprecedented, extreme weather event. President Luiz Inacio Lula da Silva said on his social media account he will visit the main affected areas on Monday. Reporting by Ana Mano in São Paulo and Lisandra Paraguassu in Brasília; Editing by Diane CraftOur Standards: The Thomson Reuters Trust Principles.

☆ Lockheed Martin gets U.S. Navy contract worth up to $2 billion
▼ + stars: | 2023-02-17 | by ( ) www.reuters.com time to read: 1 min

Feb 17 (Reuters) - The U.S. Navy has awarded Lockheed Martin Corp (LMT.N) a contract worth up to $2 billion related to hypersonic weapon systems, the defense firm said on Friday, amid a global uptick in demand for arms and ammunitions. Under the contract, Lockheed will integrate the Conventional Prompt Strike (CPS) weapon system on to the navy's ZUMWALT-class destroyer stealth ships. The defense contractor will also provide launcher systems, weapon control, integrated missile components, and platform integration support for the naval platform. The contract comes as the United States and its global rivals have been developing several hypersonic weapons, which travel in the upper atmosphere at more than five times the speed of sound. Reporting by Nathan Gomes in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

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