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UAW threatens to strike Ford Rouge Tool and Die plant over local contract
The United Auto Workers said Wednesday it'll strike the tool and die unit at Ford Motor Co.'s Rouge Complex next week if local contract issues aren't resolved.
More than a year has passed since the deadline to reach a new local agreement between the Dearborn automaker and the unit of roughly 500 workers represented by UAW Local 600 in Dearborn....Read more
Elliott still wants Southwest Airlines CEO Bob Jordan out, union says
Southwest Airlines CEO Bob Jordan and executive chairman Gary Kelly would be long gone by now if one vocal activist investor had its way, one of the airline’s unions told members this week.
“... Elliott advised that its preference would be for board chair Gary Kelly to exit his position sooner than the announced departure at next spring’...Read more
Sea-Tac Airport refuses to pay 100-bitcoin ransom after August cyberattack
The hackers behind last month’s cyberattack on Seattle-Tacoma International Airport are demanding a 100-bitcoin ransom — about $6 million — for stolen data, though just how much information was accessed, and what kind, is still unclear.
During a Wednesday morning hearing with the U.S. Senate’s Commerce, Science and Transportation ...Read more
'Hunger Games' studio Lionsgate to partner with AI company
Lionsgate will work with artificial intelligence research company Runway to create and train a new artificial intelligence model customized to the “Hunger Games” and “John Wick” studio’s film and TV content, marking the AI company’s first collaboration with a Hollywood studio.
The model will generate cinematic video that can then be...Read more
The Fed announces big interest rate cut, the first reduction since 2020
WASHINGTON — The Federal Reserve on Wednesday slashed interest rates by an unusually large one-half of a percentage point and signaled that further cuts are on the way for households struggling with still-elevated prices and a generally slowing economy.
It was the first rate cut since 2020 and reflected a shift in policymakers’ primary ...Read more
The Fed announces big interest rate cut, the first reduction since 2020
The Federal Reserve, hoping to give a strong adrenaline shot to the economy, on Wednesday announced a big half-point reduction in interest rates and signaled that further cuts are on the way for households struggling with still-elevated prices and a generally slowing economy.
While lower interest rates will ultimately help with everything from ...Read more
Boeing furloughs salaried staff to preserve cash amid strike
Boeing Co. is requiring many salaried workers to take unpaid leave to preserve cash as the planemaker digs in for contentious contract talks with its largest union.
The austerity measure affects tens of thousands of US-based employees, managers and executives, according to the company. They will work a rolling schedule of three weeks on the job...Read more
GM's Tesla charging adapters have arrived. Here's how to get one
General Motors Co. electric vehicle customers can now purchase a Tesla Inc. Supercharger adapter to give them access to the Texas-based EV maker's vast charging network, the Detroit automaker said Wednesday.
Customers driving a GM EV can purchase the GM-approved North American Charging Standard DC adapter through one of GM's brand mobile apps. ...Read more
Michael Hiltzik: Trump and his family jump into crypto, which the FBI calls a hive of 'pervasive' criminality
There have been a couple of new developments in the crypto world over the last few days just begging to have their dots connected. Here they are:
On Sept. 9, the Federal Bureau of Investigation issued its annual report on cryptocurrency fraud. The FBI found that, in 2023, crypto-related fraud absolutely exploded, with $5.6 billion in losses ...Read more
California legal weed industry in tumult after Times pesticide investigation
SACRAMENTO, California — A scandal over California's failure to keep pesticides out of legal cannabis is causing turmoil throughout the industry, with a whistleblower retaliation lawsuit, the departure of a top cannabis official, the state hiring a private investigator, and a race in the private sector to form a shadow regulatory system in the...Read more
He's training the world's next microchip leaders. Here's why he worries
Burn Lin knows the ins and outs of the tiny chips that power your phones, cars and gaming consoles, and he knows there aren't enough workers to keep up with skyrocketing demand.
The electrical engineer started his career at IBM in 1970, but eventually returned to his roots in Taiwan where his work helped turn the island democracy into the chip-...Read more
Tech review: Fender x Teufel speakers look and sound great
If you know anything about music, you’ve heard of Fender, the maker of guitars and amplifiers.
The Fender Stratocaster and Telecaster electric guitars have been revered since the 1950s, and their amplifiers are known for their pure sound, even after decades of use.
Fender has partnered with German speaker manufacturer Teufel (pronounced "toy...Read more
US mortgage rates drop to two-year low ahead of Fed rate cut
U.S. mortgage rates declined last week to the lowest level since September 2022 in anticipation of Federal Reserve interest-rate cuts, stoking an influx of applications for home purchases and refinancing.
The contract rate on a 30-year fixed mortgage dropped 14 basis points to 6.15% in the week ended Sept. 13, Mortgage Bankers Association data ...Read more
Hackers have stolen your personal information in a data breach. Now what?
I almost threw away the mailing I got in mid-July from MNGI Digestive Health. I couldn’t remember ever patronizing the place. Must be more junk mail.
Then I remembered I’d recently written about MNGI and another Twin Cities medical firm, Consulting Radiologists. They had both been hacked, together exposing personal data of over 1 million ...Read more
Fed to kick off rate cuts, signal next steps
The Federal Reserve is widely expected to lower interest rates this week after holding borrowing costs at a two-decade high for more than a year.
By how much, however, remains an open question.
Forecasters largely anticipate the Federal Open Market Committee will reduce rates by a quarter point to a range of 5% to 5.25%, though economists at ...Read more
A computer on your face? Snap and others still trying to make AR glasses a reality
In its relentless search for ways to weave digital products into people's lives, Big Tech has achieved some big wins. Smart phones are ubiquitous. Apple Watch users talk to their wrists. Artificial intelligence-powered assistants are everywhere.
But convincing people to wear computers on their faces has been a dud. So far, at least.
Augmented...Read more
Alaska and Hawaiian airlines clear hurdle to merger
Alaska Airlines expects to close its merger deal with Hawaiian Airlines soon after it cleared a Department of Transportation review Tuesday.
The DOT said SeaTac, Washington-based Alaska can acquire Hawaiian but, it required “enforcement, public-interest protections” from the two airlines before the merger. These include protecting the value...Read more
Fancy a rum and Coke in a can? Coca-Cola signs new deal with Bacardi
For many, it’s a flavor of college parties or perhaps a favorite beach cocktail. Now global brands Coca-Cola and Bacardi are teaming up to make rum and Coke in a can.
The Atlanta-based beverage giant is plowing deeper into the market for canned cocktails, announcing Bacardi Mixed with Coca-Cola, which will launch next year in Mexico and parts...Read more
Denver subpoenas 3 strip clubs in first use of new tool to investigate wage theft
Denver city officials for the first time issued subpoenas in an attempt to recover wages for dancers at a trio of strip clubs.
Denver City Council in April voted unanimously to give Denver Labor subpoena power to use during wage-theft investigations.
“It’s a win for Denver’s workers that we had this process in place in time,” Denver ...Read more
Express Scripts sues Federal Trade Commission for defamation, demands retraction
ST. LOUIS COUNTY, Missouri — Express Scripts, Inc. sued the Federal Trade Commission on Tuesday over a report the pharmacy benefit management company called “unfair, biased, erroneous and defamatory.”
Headquartered in North St. Louis County, Express Scripts, a subsidiary of The Cigna Group, is demanding the FTC retract a report it made in...Read more
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