Auto workers continue to strike against the Big Three Automakers — Ford (F), General Motors (GM), and Stellantis (STLA) — demanding wage increases, pension plans, and other benefits packages. Simultaneously, other labor movements have joined in support of the strike, as well as President Biden who released a statement addressing worker grievances. As support for the United Auto Workers’ (UAW) strike arises, so do concerns centering around job security and automation. Nathan Bomey, Axios Business Reporter, and Journalist-Author Micheline Maynard join Yahoo Finance to discuss the struggle between workers and businesses to address the cost-cutting measures of automation while also keeping jobs secure for future workers. Maynard explains that with the advent of EVs, “...you're not putting engines in them and engines take a lot of components, and so that's an area where the UAW could easily be looking at job losses."
Auto workers continue to strike against the Big Three Automakers — Ford (F), General Motors (GM), and Stellantis (STLA) — demanding wage increases, pension plans, and other benefits packages. Simultaneously, other labor movements have joined in support of the strike, as well as President Biden who released a statement addressing worker grievances. As support for the United Auto Workers’ (UAW) strike arises, so do concerns centering around job security and automation.
Nathan Bomey, Axios Business Reporter, and Journalist-Author Micheline Maynard join Yahoo Finance to discuss the struggle between workers and businesses to address the cost-cutting measures of automation while also keeping jobs secure for future workers. Maynard explains that with the advent of EVs, “...you're not putting engines in them and engines take a lot of components, and so that's an area where the UAW could easily be looking at job losses."
AP Finance
It’s been a central argument for the United Auto Workers union: If Detroit's three automakers raised CEO pay by 40% over the past four years, workers should get similar raises. UAW President Shawn Fain has repeatedly cited the figure, contrasting it with the 6% pay raises autoworkers have received since their last contract in 2019. The UAW has since lowered its demand to a 36% wage increase but the two sides remain far apart in contract talks, triggering a strike.
SmartAsset
Financial services giant Fidelity has a rule for retirement savings you may have heard of: Have 10 times your annual salary saved for retirement by age 67. This oft-cited guideline can help you identify a retirement savings goal, but it … Continue reading → The post Should the 45% Rule Guide Your Retirement Strategy? appeared first on SmartAsset Blog.
Reuters
SEOUL (Reuters) -Hyundai Motor Co and a union representing its South Korean workforce on Monday sealed a wage deal that will boost annual pay by about 12%, avoiding a strike and production losses at the company's biggest manufacturing base. The union, one of the biggest in South Korea with more than 44,000 members, said on Monday that a total of 58.8% of its voting members had approved the tentative agreement reached last week, while 41.1% rejected it. Workers at Hyundai Motor, the No.3 global automaker by sales with its affiliate Kia Corp, last went on strike in 2018.
SmartAsset
If you're going to the bank for a loan, you might think it would be easier as a millionaire. However, when it comes to high-net-worth lending, more money can mean more problems if the individual doesn't have conventional income or … Continue reading → The post How Does High-Net-Worth Lending Work? appeared first on SmartAsset Blog.
Reuters
The U.S. Justice Department on Monday questioned a Verizon executive about the company's decision to always pre-install Google's Chrome browser with Google search on its mobile phones, as the government sought to show that Alphabet's Google broke antitrust law to maintain its dominance in online search. Brian Higgins, a 28-year Verizon veteran who was on a team from 2017 to 2023 that struck deals with Google to pick software to preload onto the carrier's phones, testified in a federal court in Washington: "To the best of my knowledge, I believe it is pre-installed all the time." The government argues Google's $10 billion in payments annually to mobile carriers and others helped the California-based tech giant win powerful default positions on smartphones and elsewhere, which fed data into other lucrative parts of its business, such as online advertising.
SmartAsset
Employer-sponsored 401(k) plans are a popular way for workers to save for retirement, but they're not the only way. If you're self-employed or your employer doesn't offer a 401(k), there are retirement savings vehicles out there that will work for … Continue reading → The post How to Open a 401(k) Without an Employer appeared first on SmartAsset Blog.
AP Finance
Hearings in the $1 billion lawsuit filed by auto tycoon Carlos Ghosn against Nissan and other defendants started in Beirut on Monday with lawyers of both sides meeting the judge in charge of the case, judicial officials said. The former Nissan CEO filed the case against Nissan in May in Beirut, alleging he was detained in Japan in 2018 on false charges because of what he calls the automaker's disinformation against him.
Reuters
(Reuters) -The United Auto Workers strike against the Detroit Three automakers entered its third day on Sunday with no immediate resolution on the horizon. Union negotiators and representatives of General Motors, Ford and Stellantis were set to resume talks starting Sunday, following the start of the most ambitious U.S. industrial labor action in decades. This is the first time the UAW has gone on strike against all three automakers simultaneously.
SmartAsset
It's no surprise that Americans want more information about how to plan and save for retirement. Besides figuring out how much to save and invest and how long they might live, workers also need to figure out how to claim Social Security, where to retire, what kind of lifestyle they want, how to handle taxes […] The post You Should Know These 20 Popular Retirement Books and Podcasts appeared first on SmartReads by SmartAsset.
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