Business Highlights: A summary of the day’s top stories in the business world.
DETROIT — The United Auto Workers union says it reached a tentative contract with General Motors, the last of the Detroit Three automakers to agree to a deal. Under the deal reached early Monday, workers at all three companies will return to the job pending votes on whether to ratify the contracts, which will take place over the next two weeks. The GM deal follows tentative agreements union negotiators reached with Ford on Wednesday and Jeep-maker Stellantis on Saturday.
WAYNE, Mich. — Britney Johnson is among the thousands of Ford Motor Co. workers who went on strike to force the automaker to improve pay for all. But she carried more than a picket sign outside Ford’s Wayne Assembly plant west of Detroit. Johnson carried a multigenerational legacy of well-paid union jobs, benefits and security that allowed her family to become part of the rising Black middle class.
NEW YORK — Wall Street clawed back some of its sharp recent losses to start a week that could see more big swings in financial markets. The S&P 500 finished 1.2% higher Monday in its first trading after dropping more than 10% below its high point for the year. The Dow ended 511 points higher, and the Nasdaq composite rose 1.2%. Treasury yields were also climbing at the start of a week full of economic data, including key reports on the U.S. job market.
JEFFERSONVILLE, Ind. — Ontario-based Canadian Solar Inc. has announced plans to build an $800 million solar panel factory in southeastern Indiana that will employ about 1,200 workers once production is fully ramped up. Canadian Solar said Monday that it will build the new photovoltaic cell factory at the River Ridge Commerce Center in Jeffersonville, an Ohio River city located just north of Louisville, Kentucky.
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Factbox-Highlights of UAW deal with FordFactbox-Highlights of UAW deal with Ford
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Highlights of UAW deal with FordThe United Auto Workers on Sunday laid out key parts of the union's tentative 4 1/2-year contract with Ford Motor (F.N), which will end a divisive strike if approved by members.
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UAW reaches tentative agreement with StellantisAlthough union negotiators and the automaker have a deal, it still needs to be presented to and signed off by union leadership before it is announced. That could happen later Saturday.
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Political danger for Biden receding as second automaker has deal with UAWPresident Joe Biden comes closer to seeing a political and economic danger settled as GM remains the only company not to come to preliminary terms with the union.
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Stellantis, UAW reach tentative deal on new labour contract | Car NewsThe United Automobile Workers union has reportedly reached a tentative deal with Stellantis on a new labour contract. Auto123 has details.
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UAW announces tentative agreement to end labor strike with StellantisThe tentative deal is the result of contentious negotiations, which saw thousands of union members walk out of plants and onto picket lines.
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