Business & Finance News
Leaders of the United Auto Workers (UAW) turned up the pressure on General Motors Co on Sunday, ordering 850 maintenance workers at five GM facilities to walk off the job ahead of a meeting in Detroit on whether to call a wider strike.
The oil market will rally by $5-10 per barrel when it opens on Monday and may spike to as high as $100 per barrel if Saudi Arabia fails to quickly resume oil supply lost after attacks over the weekend, traders and analysts said.
Adam Neumann showed he can capitalize on troubled times a decade ago, tapping into demand for workspace by those forced out of jobs in the aftermath of the financial crisis to grow WeWork into a global brand commanding a $47 billion valuation.
Saudi stocks fell sharply on Sunday, after attacks on two plants at the heart of the kingdom’s oil industry a day earlier knocked out more than half of Saudi crude output.
The head of the United Arab Emirates’ General Civil Aviation Authority said on Sunday he was not optimistic that the Boeing 737 MAX would return to operations this year and that the first quarter of 2020 was more likely.
Saudi stocks plunged 2.3% as the market opened on Sunday, after attacks on two plants at the heart of the kingdom’s oil industry a day earlier knocked out more than half of Saudi crude output.
The head of the United Arab Emirates’ General Civil Aviation Authority said on Sunday he was not optimistic the Boeing 737 MAX would return to operations in the fourth quarter of this year and it was more likely to be in the first quarter of 2020.
The Trump administration said on Saturday it stood ready to tap U.S. emergency oil reserves if needed after attacks in Saudi Arabia shut more than half the crude output in the world’s largest oil exporter.
The United Auto Workers (UAW) said late on Saturday it would not extend its contract with General Motors Co and would decide on a course of action at a meeting of union leaders in Detroit Sunday morning that could result in talks resuming or possibly workers going out on strike.
The United Auto Workers said late on Saturday that it will not extend its contract with General Motors Co that was set to expire in hours, but would continue to work pending a meeting of senior union officials.
Saturday’s attacks on key Saudi Arabia processing plants will test the world’s ability to handle a supply crisis as it faces the temporary loss of more than 5% of global supply from the world’s biggest crude exporter.
An attack on Saudi oil facilities on Saturday is believed to have disrupted half the country’s production capacity, making the United States the only real holder of the global supply cushion via its ability to raise own output or to soften sanctions against other major oil producers.
Major drug wholesalers and retailers facing a massive lawsuit for allegedly fostering the nation’s opioid crisis asked the judge hearing the case to recuse himself on Saturday.
BMW’s engine development and purchasing expert, Markus Duesmann, is set to become the CEO of Volkswagen’s Audi premium brand, after BMW dropped its opposition to his early departure, a German newspaper reported on Saturday.
(In September 12 story, corrects name of European Union Aviation Safety Agency from European Aviation and Space Agency in paragraph 10)
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