Economy Headlines

  • UAW goes on strike against GM

    The United Auto Workers union went out on strike against General Motors Sunday night, the first work stoppage in the US auto industry in 12 years. The union's 46,000 hourly workers walked out at 31 GM factories and 21 other facilities, spread across nine states, mostly in the center of the country. It's the largest strike by any union against any business since the last strike at GM in 2007. The strike started at 11:59 pm Sunday night. The two sides did not formally meet Sunday after the union...

    WPLG
  • Asian markets mixed as oil prices surge

    Asian stock markets mixed after crude prices surge following attack on Saudi facility

    ABC News
  • Trump orders use of emergency supplies as oil prices surge

    As oil prices surged Sunday, President Donald Trump said he was authorizing the use of oil from the country's emergency reserve after Saturday's attack on Saudi Arabian oil facilities disrupted the global supply of crude. Trump, in a series of tweets, said that he had ordered that oil from the Strategic Petroleum Reserve, or SPR, be used "if needed." He said he would use enough oil "sufficient to keep the markets well-supplied." Trump said he would take other steps to calm markets. "I have...

    WPLG
  • How Argentina Can Prevent an Economic Crisis: Dollars

    James Roberts economy, Americas It was dollarization in 2000 that saved Ecuador during the Rafael Correa years from experiencing the devastating economic damage that Correa’s role model, Hugo Chávez, inflicted upon Venezuela. It’s not hurricane season in South America, but yet another currency crisis has slammed into Argentina. It has arrived just as President Mauricio Macri is running for re-election. Macri, a non-Peronist president, has always expected hard-going. Since Argentina’s return to...

    The National Interest
  • China Blinks on Pork and Soybean Tariffs

    Pressure. The post China Blinks on Pork and Soybean Tariffs appeared first on RedState.

    RedState
  • Finance start-up SoFi strikes deal to put its name on new LA stadium for the Rams and Chargers

    Financial technology start-up SoFi is putting its name on the most expensive NFL stadium ever built.

    CNBC
  • What the attacks on Saudi Aramco mean for oil prices

    Oil prices, which have remained low for months, could spike when markets open Monday as Saudi Arabia scrambles to repair damage to its energy infrastructure inflicted this weekend. Coordinated strikes on key Saudi Arabian oil facilities disrupted about half of the kingdom's oil capacity, or 5% of the daily global oil supply. Yemen's Houthi rebels on Saturday took responsibility for the attacks on the Saudi Aramco oil facilities in Khurais and Abqaiq -- the world's largest oil processing facility...

    WPLG
  • Auto workers union says it will strike GM at midnight

    The United Auto Workers union said Sunday that its members at General Motors will walk out by midnight if the automaker does not meet its demands, setting the stage for the nation's first auto strike in 12 years. A union statement suggests the two sides are still very far apart in negotiations for a new contract. As union officials met in Detroit Sunday morning, the union issued a new strike threat. "If GM refuses to give even an inch to help hard-working UAW members and their families then...

    WPLG
  • The Latest: GM says it made 'strong offer' to its US workers

    General Motors says it presented what it believes was a strong offer to the roughly 49,000 workers at its U.S. plants, including improved wages and benefits and investments in eight facilities in four states

    ABC News
  • America has a huge stash of emergency oil

    Three days before Christmas in 1975, President Gerald Ford signed a law creating the United States' first emergency stash of crude oil. The nation had been traumatized by an oil embargo a few years earlier. At the time, OPEC, the cartel of oil-producing nations, had a stranglehold on the world's supply of crude. Today the United States is one of the world's largest producers and a major seller, not just a buyer, of oil. But the United States still has its stash. The Strategic Petroleum Reserve...

    WPLG
  • Wall Street banks are upping bets on their potential fintech competitors

    The biggest U.S. banks are ramping up investments in some of their potential competitors.

    CNBC
  • Bitcoin's heading to a new all-time high along with the S&P 500, says Fundstrat's Tom Lee

    "We're inching closer" to new record highs for bitcoin and stocks, says the Fundstrat Global Advisors co-founder and head of research.

    CNBC
  • U.S. General Motors workers to strike, likely impact Canadian operations

    A strike by 49,200 union workers would bring to a halt GM’s U.S. production, and would likely stop the company from making vehicles in Canada and Mexico as well.

    Global News
  • Tunisia seeks new leader to boost economy, fight terror

    Tunisians are casting ballots in their North African country’s second democratic presidential election, choosing among 26 candidates for a leader who can safeguard its young democracy and tackle its unemployment and corruption

    www.washingtonpost.com
  • Balanced budget? A look at why federal leaders aren’t in a rush

    Canada is on track to post multibillion-dollar shortfalls over the next six years, in large part because of the Liberals' investments in social programs and infrastructure.

    Global News
  • Tunisia seeks new leader to boost economy, fight terror

    Tunisians are casting ballots in their North African country's second democratic presidential election, choosing among 26 candidates for a leader who can safeguard its young democracy and tackle its unemployment and corruption

    ABC News
  • Auto workers union delays GM strike

    Members of the United Auto Workers union working at General Motors decided Saturday night to stay on the job past a midnight deadline for a new contract, but remained on the verge of a strike. In letters late Saturday to both GM and 46,000 hourly workers at 31 GM factories and 21 other facilities across the nation, the union said no strike would be started at least until a Sunday 10 a.m. ET meeting of union officials representing members at GM. While there had been some progress in talks,...

    WPLG
  • How the European Union Lost Its Luster

    Amitai Etzioni Security, Europe While millions of people are willing to die for their nation, few are willing to die for the European Union, not to mention for less advanced supranational unions. Brexit is often depicted as driven by a wave of right-wing nationalism. The same wave is viewed as having swept nationalistic and anti-EU governments into office in Hungary, Poland, and Italy, as well as having led to the rise of right-wing xenophobic parties in France, the UK, and Germany, among...

    The National Interest
  • Germany's Merkel faces decisive week on climate protection

    Germany faces a decisive week in its efforts to combat climate change, with Chancellor Angela Merkel pledging Saturday that Europe's biggest economy will find good solutions

    ABC News
  • Fearing ‘Spy Trains,’ Congress May Ban a Chinese Maker of Subway Cars

    A Chinese train maker, the world’s largest, has contracts in Chicago, Los Angeles and Boston, but Congress may block it from securing any new contracts in the United States.

    www.nytimes.com
  • West African leaders meet on extremism in the region

    Heads of state from 15 member countries of the West African economic bloc known as ECOWAS are meeting Saturday in Burkina Faso to discuss the fight against Islamic extremism in the region and the impact of the G5 Sahel set up to combat its spread

    ABC News
  • How Beyond Meat's stock surged 500% in 2019

    On its first trading day, Beyond Meat's stock price surged 163%. The hype around the stock continued to push it higher in the following months. Year-to-date returns hit 850% at one point. Here's a look at what's behind an IPO valuation and what's next for investors looking to own some shares of the next big IPO.

    CNBC
  • West African leaders meet on extremism in the region

    Heads of state from 15 member countries of the West African economic bloc known as ECOWAS are meeting Saturday in Burkina Faso to discuss the fight against Islamic extremism in the region and the impact of the G5 Sahel set up to combat its spread

    www.washingtonpost.com
  • Madewell, J Crew's denim brand, files for IPO

    Madewell, J Crew's fast-growing denim brand, plans to split from its struggling parent company and hit the public market. The company will be called Madewell Group and wants to list its stock on the New York Stock Exchange or Nasdaq, it said in a securities' filing late Friday. At this early stage, Madewell did not list an IPO price or say when it plans to go public. Its next step will be to meet with investors and gauge interest in a public offering through what's known as a "road...

    WPLG