Business

During a six-week strike in September and October, union members at Ford, Stellantis, and General Motors ratified a new four and a half-year contract that locks in at 11% pay increases. The agreement, which runs through April 30, 2028, was approved by about 67% of the Ford workers that the United Auto Workers represents. Although […]

DOWNTOWN — Following a few major plants’ recent votes against the tentative agreement, the United Auto Workers and General Motors are once again moving toward ratification, according to ongoing voting results released by the union on Wednesday. By Wednesday afternoon, the union had finalized the votes of about 30,700 autoworkers, and about 54% of them

According to, Citigroup will soon start making layoffs as part of CEO Jane Fraser’s corporate reorganization. People with knowledge of the situation said that starting on Wednesday, affected employees will receive notifications about the cuts, and new dismissals will be announced every day until early next week. Chiefs of staff, managing directors, and a few

Lower mortgage rates are getting a response from both existing and prospective homeowners, if slowly. The seasonally adjusted index published by the Mortgage Bankers Association shows that mortgage demand increased 2.8% last week over the previous week. That marked the second week in a row of gains. The average contract interest rate for 30-year fixed-rate

Tuesday saw a judge rule in favor of Paramount Global on a few claims made by Warner Bros. Discovery in a lawsuit filed earlier this year regarding the streaming rights to the popular animated series “South Park.” Justice Margaret Chan of the New York State Supreme Court ruled that Paramount had not broken any state

The positive economic data this week appears to have given the markets the green light for the Federal Reserve to begin aggressively lowering interest rates next year. Traders went into a frenzy when they saw signs that the rates of consumer and wholesale inflation had significantly decreased from their peaks in mid-2022. The most recent

Walmart, a discount retailer that typically outperforms its competitors, will release its quarterly earnings on Thursday. Based on consensus estimates from LSEG, formerly Refinitiv, here’s what Wall Street anticipates from the retailer: Expected earnings per share: $1.52 Expected revenue: $159.72 billion Investors have bet that the big-box retailer has what it takes to boost sales

Following a dismal earnings report and a regulatory filing that raised questions about the company’s prior financial statements, shares of electric vehicle startup Fisker plummeted on Tuesday. The stock of the company dropped by over 18% to close at $3.34 per share. On Monday afternoon, Fisker released its third-quarter earnings, and the results fell short

Shortly before disclosing a nearly 5 billion euro deficit for its fiscal year, Siemens Energy received state guarantees worth 7.5 billion euros ($8.15 billion) related to the project from the German government. After discussions with private lenders and Siemens AG, the company’s largest shareholder, the German economy ministry announced late on Tuesday that it had

According to Mortgage News Daily, the average 30-year mortgage rate dropped by 18 basis points to 7.40% on Tuesday as Wall Street reduced its forecast for additional Federal Reserve hikes. The government’s monthly inflation report came in lower than expected, which sparked a strong rally in the bond market and caused the drop. Mortgage rates,