Month: October 2019

(Bloomberg) — General Motors Co.’s chief labor negotiator suggested the United Auto Workers is dragging its feet in responding to the automaker’s latest contract offer in a show of frustration with a strike that’s lumbering toward the one-month mark.GM made a comprehensive offer Monday morning to the UAW and hasn’t received a response in the days since, despite Chief Executive Officer Mary Barra joining a meeting with the union Wednesday. Scott Sandefur, GM’s vice president of North American labor relations, scolded his counterpart at the union for the delay and criticized the UAW’s plan to make a counter proposal only …read more […]

A fierce wildfire that erupted in southern California on Thursday destroyed homes and structures and caused “numerous medical emergencies” at a Riverside County mobile home park, fire officials said. No further details were immediately available on how many mobile homes had been burned or the nature of the medical emergencies. The Sandalwood Fire was one of about 275 wildfires that have broken out across California in the past 24 hours as hot, gusty winds signaled the start of its peak fire season, state officials said at a news conference. …read more […]

General Motors Co late on Thursday urged the United Auto Workers union to agree to around-the-clock bargaining to try to resolve a 25-day U.S. strike that has cost the company more than $1 billion in profits, according to a letter seen by Reuters. The UAW said in a letter earlier on Thursday that work to resolve issues by five committees must be completed first before it will make a comprehensive counterproposal. “We should engage in bargaining over all issues around-the-clock to get an agreement,” wrote GM Vice President Scott Sandefur in the Thursday letter to the UAW. …read more […]

New Zealand-born Foran is credited with turning around Walmart Inc’s U.S. business as its president and CEO since 2014, with the unit reporting 20 quarters of comparable sales growth under his leadership. “Greg has an impeccable track record in delivering strong commercial performance, outstanding customer focus and in building teams that can take a business to the next level,” Walsh said in a statement. Air New Zealand shares were marginally higher at NZ$2.85 on Friday. …read more […]

Walmart Inc said on Thursday its chief executive for U.S. operations, Greg Foran, will leave the company early next year and be replaced by the head of its Sam’s Club warehouse chain unit, John Furner. Foran’s departure is likely to be considered a blow for Walmart given the New Zealand native is credited with turning around Walmart’s U.S. business by focusing on improving existing stores. Walmart reported 20 quarters of comparable sales growth under his leadership. …read more […]

(Bloomberg Opinion) — If the market is right, the chance of a resolution to the Brexit nightmare has just been transformed. After Ireland’s Taioseach Leo Varadkar briefed the press on his lengthy one-on-one talks with British Prime Minister Boris Johnson, currency traders turned what had already been a good day for the pound into one in which sterling at one point made its greatest gain in more than two years. For some context, this is what has happened to the pound against the dollar since the beginning of September, when Johnson’s gambit to prorogue Parliament appeared briefly to have made …read more […]