UAW Reaches A Tentative Agreement With Ford

The United Auto Workers (UAW) union announced on Wednesday that it has secured a tentative contract agreement with Ford, marking a significant step toward ending the nearly six-week-long strikes that have affected Detroit automakers, reports the Associated Press. The four-year contract deal, still pending approval from 57,000 union members at Ford, could bring an end…

ByFinance Capitol StaffOctober 26, 2023

Business

The Washington Post Will Cut 240 Jobs

The Washington Post has announced that it will reduce its workforce by approximately 240 positions through a voluntary buyout program, reports The Associated Press. Interim CEO Patty Stonesifer sent an email to staff, acknowledging the newspaper's overestimation of growth projections over the past two years and into 2024. The voluntary buyouts will be extended to…

ByFinance Capitol StaffOctober 12, 2023

Business

Amazon Is Being Sued By The FTC And 17 US States

The Federal Trade Commission and 17 US states sued Amazon on Tuesday, alleging that the company illegally stifled competition, thus protecting a monopoly in online retail, reports The New York Times. Amazon would allegedly squeeze merchants and favor its own services, which would produce artificially higher prices, as merchants would be blocked from selling their…

ByFinance Capitol StaffSeptember 28, 2023

Business

Tesla Is In Early Talks With Saudi Arabia For An EV Factory In The Kingdom

Electric automaker Tesla is in early talks with Saudi Arabia to possibly build an EV factory in the country, the Wall Street Journal reports, citing sources familiar with the discussion. According to the report, the manufacturing facility could help the kingdom to diversify its economy away from oil. The talks are at a very early…

ByFinance Capitol StaffSeptember 19, 2023

Business

UPS Workers Reached New Agreement After Negotiations

The Teamsters, representing 340,000 UPS workers, announced on Tuesday the successful ratification of the tentative contract agreement reached last month, reports the Associated Press. An overwhelming 86% of the votes cast by members favored the ratification of the national contract. While more than 40 supplemental agreements were also ratified, an exception was the one covering…

ByFinance Capitol StaffAugust 24, 2023

Business

Tesla CFO Will Leave The Company After 13 Years

Tesla Chief Financial Officer (CFO) Zachary Kirkhorn has stepped down after 4 years in the role and 13 years in the electric vehicle maker line of business, according to the Associated Press. Kirkhorn made the announcement of his departure last Friday, but will remain with the company until the year’s end to support a seamless…

ByFinance Capitol StaffAugust 8, 2023

Business

Twitter Is Losing Cash Because Of Advertisement Drops

Elon Musk says Twitter is losing money because of advertisers leaving the platform. Advertisements on Twitter have dropped by half since Musk took over the social media platform. In reply to a tweet offering business ideas, Musk said: “We’re still negative cash flow, due to ~50% drop in advertising revenue plus heavy debt load. Need…

ByFinance Capitol StaffJuly 18, 2023

Business

5 Things You Didn’t Know About Solar Farms

Solar farms are booming in every country of the world. Thanks to the country’s goal to decarbonize themselves, clean energy is beginning to be one of the most reliable sources of energy in the world. Solar farms may be a slowly growing phenomena, but it has the potential to be one of main sources of…

ByFinance Capitol StaffJuly 6, 2023

Business

Chipmaker Intel Restructures Manufacturing Business

June 21 (Reuters) - Intel Corp said on Wednesday its manufacturing business will work like a separate unit and will begin to generate a margin, but gave no clear timeline on when it will start scaling up, sending the chipmaker's shares down about 5%. The company also did not name a new external customer for…

ByChavi Mehta, ReutersJune 19, 2023

Business

US FTC Asks Court To Block Microsoft Acquisition Of Activision

The Federal Trade Commission asked a court to temporarily block Microsoft Corp's acquisition of Activision Blizzard on Monday, seeking to halt the deal from closing before the government's case against the $69 billion deal is heard. The FTC said Microsoft and Activision had signaled the deal could close as soon as Friday and asked a…

ByDavid Shepardson, ReutersJune 14, 2023

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