The recent organizing vote of Mercedes-Benz workers in Alabama has raised concerns as the United Auto Workers union challenges the results and calls for a new election. The UAW has presented multiple claims against the German automaker, including the firing of pro-union workers, coercion of workers to attend anti-union meetings, and hindrance of workers’ ability
Business
Boeing and NASA are working in tandem to propel the company’s Starliner capsule into new frontiers, aiming to transport U.S. astronauts for the first time. Despite encountering a “stable” leak in the spacecraft’s propulsion system, both organizations are forging ahead with their plans. Mark Nappi, Boeing’s vice president and manager of the company’s Commercial Crew
The U.S. Department of Justice, together with 30 states, has decided to file a lawsuit against Live Nation, the parent company of Ticketmaster, accusing them of antitrust violations. This legal action comes as a result of an investigation into Live Nation’s potential monopoly within the ticketing industry. The probe was initiated back in 2022, following
The recent report from the National Association of Realtors revealed a 1.9% decrease in the sales of previously owned homes in April compared to March. This unexpected decline can be attributed to the significant increase in mortgage rates that started at the beginning of February. The continuous rise in rates, reaching 7% in April, has
The latest development in the financial industry involves the Consumer Financial Protection Bureau’s declaration that customers of the buy now, pay later (BNPL) sector must adhere to the same federal safeguards as credit card users. This means that BNPL lenders, which are primarily fintech firms like Affirm, Klarna, and PayPal, will now be required to
Macy’s recent fiscal first-quarter earnings exceeded Wall Street expectations, showcasing a positive start to the year for the retailer. The company’s revenue also aligned closely with predictions, demonstrating initial signs of progress in its turnaround efforts. CEO Tony Spring emphasized that Macy’s is still in the early stages of revamping its namesake stores. By investing
Lowe’s recent quarterly earnings report has exceeded Wall Street’s expectations, with earnings per share of $3.06 compared to $2.94 expected, and revenue of $21.36 billion compared to $21.12 billion expected. However, despite these positive numbers, Lowe’s experienced a net income drop to $1.76 billion in the three-month period that ended on May 3. In comparison
Red Lobster, a beloved seafood chain, has recently made headlines for filing for Chapter 11 bankruptcy protection. This move comes amidst a difficult macroeconomic environment, a bloated restaurant footprint, failed strategic initiatives, and increased competition within the industry. With significant debt and long-term leases weighing the company down, Red Lobster is in the process of
Last year, media giants faced challenges during Upfront meetings due to a Hollywood strike and cost cutting that impacted their content offerings. This year, although stars returned post-strike, the presentations continued to rely heavily on sports content as opposed to scripted shows. The repercussions from the previous year’s pause in work meant that some companies
The recent decision by Mercedes-Benz workers in Alabama to vote against union representation by the United Auto Workers (UAW) has come as a surprise blow to the UAW’s organizing efforts. The National Labor Relations Board (NLRB) announced on Friday that 56% of the workers, totaling 2,642, were against the UAW. This comes just a month
