In a groundbreaking victory for the United Auto Workers (UAW), workers at Volkswagen’s plant in Tennessee have voted to join the union. The unofficial tally revealed that a majority of eligible workers have cast their ballots in favor of the union, marking a significant win as the UAW continues to expand its presence in the
industry
Bitcoin halving is a process that occurs in the Bitcoin network every four years, reducing the rewards earned by miners. This event is designed to control the supply of new bitcoins entering the market, ultimately leading to a total of 21 million bitcoins in circulation. The most recent halving, which took place on Friday evening,
The recent overwhelming vote by Volkswagen workers in Chattanooga, Tennessee, to join the United Auto Workers (UAW) marks a significant milestone for the union. With 73% of the vote in support of the union, this successful organizing drive stands out as the first of its kind outside of Detroit’s Big Three automakers. The National Labor
Lululemon, the popular athletic apparel retailer, has made the decision to close its distribution center in Sumner, Washington, and lay off 128 employees. This move comes after the company opened a new massive warehouse outside of Los Angeles. The closure is part of Lululemon’s growth strategy, which includes evaluating its distribution network to meet the
Taiwan is at the forefront of the AI chip revolution and the global semiconductor industry, playing a crucial role in shaping the future of technology. The Taiwan Stock Exchange has seen significant gains, with the Taiex rising by 27.93% in the last 12 months, driven by the high demand for high-end chips and server supply
The decision to push back the release of Transformers One from September 13 to September 20 was a strategic move by the studio to avoid competition with Beetlejuice Beetlejuice, which is expected to dominate the box office in September. However, this new release date also puts Transformers One in direct competition with DreamWorks Animation/Universal’s Wild
Swiss engineering company ABB recently reported better than expected profit at the beginning of the year. Despite challenges faced by the global economy, ABB managed to exceed analyst forecasts in operational core profit, highlighting the company’s resilience and solid performance in the market. The impressive 11% increase in operational core profit to $1.42 billion for
Following the recent announcement of layoffs at Tesla, CEO Elon Musk sent out an internal email alerting employees that some severance packages were incorrectly calculated and distributed. This mistake, according to Musk, is being rectified immediately. The oversight in providing inadequate severance to laid-off workers raises questions about the efficiency and accuracy of the company’s
U.S. Treasury Secretary Janet Yellen reiterated the Biden administration’s commitment to providing Ukraine with the necessary budgetary and military assistance. She expressed disappointment in the delays from Republican lawmakers in approving the aid, deeming them “inexcusable.” Yellen’s strong words come after a meeting with Ukrainian Prime Minister Denys Shmyhal and Finance Minister Serhiy Marchenko, where
Despite recent safety issues that have plagued the aviation industry, airline executives are reporting a continued strong demand for flights. United Airlines, along with other major carriers, are anticipating record numbers of travelers this summer. This trend is evident in the record-breaking sales days that have been observed this year. The aviation industry has faced
Chinese exporters are facing tough times as profit margins continue to dwindle. Wu Huazhan, co-owner of a television factory in Guangdong, mentioned that their profit margin has dropped to a mere 0.5% from 2% a few years ago. This drastic decrease in profit has forced many exporters to reconsider their future in the industry. The
Former chair of the U.S. Federal Deposit Insurance Corp, Sheila Bair, has expressed her concerns regarding the quarterly earnings of regional banks and the vulnerabilities that may be exposed. Bair highlighted that some regional banks are still heavily reliant on industry deposits, have significant exposure to commercial real estate, and face potential instability with uninsured
Republican governors from six states in the US have recently taken a stand against the United Auto Workers’ (UAW) efforts to organize automotive factories in the South. The governors of Alabama, Georgia, Mississippi, South Carolina, Tennessee, and Texas have jointly condemned the union’s push, citing concerns about potential layoffs and decreased future investments. This statement
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