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International Business Machines Corporation
Lockheed Martin Corporation
Mondelez International, Inc.
The TJX Companies, Inc.
Duke Energy Corporation
General Dynamics Corporation
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The Progressive Corporation
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General Motors is reportedly pressuring United Auto Workers to speed up negotiations for a four-year contract, according to a letter obtained by the Wall Street Journal. Yahoo Finance's Akiko Fujita and Dan Roberts discuss.
The coming week’s docket of economic reports and earnings releases comes just following the Trump administration’s announcement of a partial trade deal with China late last week.
The United Auto Workers union said Saturday it will boost strike pay for 48,000 hourly workers at General Motors Co by $25 a week to $275 as a strike against the largest U.S. automaker nears the end of its fourth week. Talks were continuing late Saturday afternoon to try to resolve the longest nationwide strike at GM since 1970, both sides said. The UAW also said it would allow members striking to take on part-time jobs without reducing their strike pay – as long as they perform picket-line duties.
Is Campbell Soup Company (NYSE:CPB) a good investment right now? We check hedge fund and billionaire investor sentiment before delving into hours of research. Hedge funds spend millions of dollars on Ivy League graduates, expert networks, and get tips from investment bankers and industry insiders. Sure they sometimes fail miserably, but their consensus stock picks […]
Sky-high valuations for software stocks necessitate a more defensive view of the industry, according to Jefferies analyst Brent Thill, and Microsoft Corp. shares look like the “safest” play.
How to sort through the rewards and dangers in short-term paper, corporates, munis, preferred stocks, and taxable bonds.
Though CPU shortages are still an issue for the PC industry, an uptick in business PC demand is helping out a number of firms.
(Bloomberg) -- Several wildfires are raging in Southern California, including a blaze at the edge of Los Angeles that’s led to the evacuation of 25,000 homes and a sprawling natural gas-storage site that once sprung the biggest U.S. gas leak.The Aliso Canyon gas field operated by Sempra Energy’s Southern California Gas Co. was evacuated after the blaze, named the Saddleridge fire, broke out Thursday in hills north of the San Fernando Valley, the company said in a statement. About 100,000 people were displaced, police said.The fire has burned more than 7,500 acres and is about 13% contained, authorities said. A cause hasn’t been determined. It comes after California utilities cut power to more than 2 million people to avoid having live wires topple during windstorms and spark wildfires in the state’s largest-ever preemptive blackout. Power has been restored to 97% of PG&E Corp.’s affected customers.East of Los Angeles, another fire -- named Sandalwood -- in Riverside County has burned 823 acres. Further west, the Wendy blaze in Ventura County has burned 91 acres, according to the California Department of Forestry and Fire Protection.For more, listen to this mini-podcast on California’s wildfire blackouts.Edison International’s Southern California Edison utility had begun to restore power to customers it had cut power, but about 14,000 homes and businesses remained in the dark as of late Friday. The company warned 110,000 were still at risk of losing service. It wasn’t immediately clear whether the Saddleridge fire broke out in Edison’s territory or that of Los Angeles Department of Water and Power. Both operate in the area. The Los Angeles Fire Department said it was investigating reports of sparks flying from a transformer at the time of the blaze, which began along the 210 Freeway near Yarnell Street in Sylmar.READ MORE: Governor Slams PG&E as Epic Blackout EbbsAs they battle the blaze, crews have staged firefighting equipment around the Aliso Canyon storage site, according to SoCalGas. The facility does not appear to have suffered damage, and there are no indications of leaks, the utility said in a statement at 10 a.m. local time Friday. The company said it doesn’t anticipate that any of the field’s wellheads will be damaged.The blaze also prompted authorities to partially close several freeways including parts of Interstate 5, the West Coast’s main north-south artery.In 2015, employees discovered a massive gas leak at Aliso Canyon, forcing thousands of residents to evacuate for months. Sempra has already reported more than $1 billion in costs associated with the incident.(Updates with PG&E restoration in third paragraph)\--With assistance from Christopher Palmeri, Naureen S. Malik, Nathan Crooks, Hailey Waller and Nic Querolo.To contact the reporter on this story: David R. Baker in San Francisco at firstname.lastname@example.orgTo contact the editors responsible for this story: Lynn Doan at email@example.com, Pratish NarayananFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- The United Auto Workers made a counter proposal to General Motors Co. late Friday that would end a nearly month-long strike if the automaker agrees, capping a tumultuous day in which the union and company traded barbs and blame.UAW Vice President Terry Dittes offered no specifics on the proposal in a letter sent to members and published on the union’s website. GM had been awaiting a response to its latest offer made Monday, which a person familiar with the matter said included $9 billion of total investment in U.S. plants, about $2 billion more than the carmaker vowed to make in mid-September.Analysts say the strike has cost GM more than $1 billion of lost profit. The automaker’s senior executives appealed to rank-and-file employees late this week, portraying UAW leadership as dragging their feet in responding to its proposals.“We object to having bargaining placed on hold,” Scott Sandefur, GM’s vice president of North American labor relations, wrote to Dittes late Thursday in a letter obtained by Bloomberg. “As we have urged repeatedly, we should engage in bargaining over all issues around-the-clock to get an agreement.”The public war of words escalated midday Friday, with the UAW issuing an open letter accusing GM of stalling negotiations to “starve UAW-GM workers off the picket lines” and protect its own interests. The union said its negotiators remain committed to bargaining day-and-night to find an agreement.“These delaying tactics have human costs. Families are suffering, from Detroit to Texas to New York,” the letter said. “This strike has been and continues to be about securing the American workers’ future.”Showing FrustrationThe UAW’s walkout has halted production at 34 U.S. plants and disrupted output at factories in Mexico and Canada. While GM publicly released details of its first formal offer to the union on Sept. 15 -- the day the UAW called the strike -- the company had until this week kept a lid on public criticism of union leaders, who themselves are dealing with a credibility crisis.GM was upping the pressure on UAW brass Friday in a bid to clinch an agreement before the strike enters a fifth week.“GM is frustrated with the pace of negotiations,” said Art Schwartz, a former GM labor negotiator who’s now a consultant in Ann Arbor, Michigan. “They gave the union a comprehensive offer on Monday, and it’s Friday and they haven’t had a response yet. If I had members out on strike, I would be responding within hours.”GM shares rose 2.6% on Friday, paring their decline since the strike began to 8.5%. While credit-rating companies initially warned of risk to the automaker if the walkout lasted more than a couple weeks, they’ve been reluctant to downgrade.“GM has adequate liquidity to contend with a strike of this duration,” Bruce Clark, lead U.S. auto analyst for Moody’s Investors Service, wrote in a report Friday. The carmaker would start to forgo significant earnings if the walkout extends into late November, he said.Earlier Friday, GM released a broad outline of the offer made at the beginning of the week, saying it would boost wages and lump-sum payments while also preserving health care benefits. Gerald Johnson, GM’s executive vice president of manufacturing, wrote to employees the automaker was prepared to enhance profit-sharing, including by lifting the cap on how much is paid out based on the company’s earnings.UAW members also would receive bigger ratification bonuses than in 2015, when each worker was paid an $8,000 signing bonus. And the offer gives temporary workers a clear path to permanent status, Johnson said.“The strike has been hard on you, your families, our communities, the company, our suppliers and dealers,” Johnson wrote to employees. “We have advised the Union that it’s critical that we get back to producing quality vehicles for our customers.”Security ConcernThe investment offer from GM was aimed at sewing up one of the union’s major remaining concerns -- that underused plants could end up being idled or closed during the life of the agreement. UAW Vice President Terry Dittes said in two letters this week that the union wanted the company to offer more job security.GM’s initial formal offer made in mid-September included plans to build electric trucks at a plant in Detroit, which is scheduled to run out of work in January, and to construct a battery plant in Lordstown, Ohio, where the company has idled a compact car plant. Those two investments remain parts of GM’s plans, the person said.“GM definitely has moved; whether the union has moved off their demands, we don’t know,” Schwartz said. “Maybe they’re not responding quickly because the leadership is worried about ratification. They’re probably more worried about ratification than actually getting the deal done.”(Updates with TK in TK paragraph. An earlier version of this story corrected the investment figure in the headline and first paragraph.)To contact the reporters on this story: David Welch in Southfield at firstname.lastname@example.org;Keith Naughton in Southfield, Michigan at email@example.comTo contact the editors responsible for this story: Craig Trudell at firstname.lastname@example.org, ;Crayton Harrison at email@example.com, Chester DawsonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
It's part of California's new normal - year-round fire seasons, planned electricity blackouts and, for retired couple Bhagvei and Paresh Badreshia, sudden evacuations in the middle of the night. The evacuations in Southern California came after the state's largest utility, Pacific Gas and Electric Co. (PG&E) , switched off the power to nearly 800,000 homes and businesses in northern and central California to prevent its transmission lines from sparking wildfires under gusting dry winds. It was the second time in less than four years the Badreshias have been forced by an emergency to flee their home in Porter Ranch, a plush suburb where some scenes for the 1982 movie "E.T. the Extra-Terrestrial" were filmed.
Sempra has been seeking to bolster its finances and increase its appeal to investors after a wave of wildfires in California exposed it and other utilities to more legal liabilities. Sempra's deal with State Grid Corporation of China could be announced as early as next week, the sources said, cautioning it was still possible that negotiations may falter at the last minute and asking not to be identified because the matter is confidential. Sempra declined to comment, while State Grid Corporation of China did not immediately respond to requests for comment.
Half a continent away from the auto plants of Detroit, U.S. strikes at General Motors (GM) have sent shivers through the central Mexican city of Silao, where the local GM factory furloughed 6,000 workers last week when parts from the United States ran out. Rich or poor, residents are anxiously hoping the labour dispute will end so the company reopens the plant, which has been an anchor of the local economy since GM arrived a generation ago, transforming the landscape forever. "General Motors is the biggest source of income here.
The company has told customers in the Puget Sound region that there will be delivery delays because it will take several months to restore full production.
Some options traders are actively betting that AMD stock will rise after the company reports its Q3 earnings at the end of October. Let's look closer.
The Pentagon will deploy more weapons and troops to Saudi Arabia, including Lockheed Martin and Raytheon missile defense systems.
Today, Lisa Su completed five years as the CEO of AMD. In these five years, she's brought it back from near bankruptcy and made it into a worthy competitor.
HOUSTON/NEW YORK/LONDON (Reuters) - Rates to charter oil tankers from the Arab Gulf, United Kingdom and the U.S. Gulf Coast to Asia surged to fresh highs on Friday as global oil traders grappled with a tanker shortage in the aftermath of U.S. sanctions on units of Chinese giant COSCO. Occidental Petroleum Corp tentatively chartered a supertanker to ship U.S. crude from the U.S. Gulf Coast to Asia for a record $15.8 million this week, three sources said on Friday. Royal Dutch Shell chartered the Suezmax vessel Amoureux this week for $9.2 million to ship crude from Teesport, U.K. to Dalian, China in early November, according to a shipping source and Refinitiv Eikon data.
American Water, a New Jersey-based public utility company, has confirmed that it has bid on JEA — the fourth of 17 bidders to identify itself in a process that so far remained shrouded in secrecy. American Water has a 25 million-gallon-per-day desalination plant in Tampa, which supplies about 10 percent of the drinking water for the Tampa Bay area, and a Homeowner Services partnership with Orlando Utilities Commission. “American Water has responded to JEA’s Invitation to Negotiate, and we sincerely appreciate the opportunity to participate in this process.
The parts of the bill that have run into opposition would change some of the rate-making procedures for utilities in North Carolina.