OMAHA, Neb. (AP) — Members of one union rejected a tentative deal with the largest U.S. freight railroads Wednesday, while two ratified agreements and three others remained at the bargaining table just days ahead of a strike deadline, threatening to intensify snarls in the nation’s supply chain that have contributed to rising prices. About 4,900…
By Jonathan Stempel (Reuters) – Wells Fargo & Co has reached a $94 million settlement to resolve class-action claims it sent more than 200,000 struggling mortgage borrowers into forbearance during the COVID-19 pandemic without their consent. The proposed settlement was filed last week in the federal court in Columbus, Ohio, and requires a judge’s approval….
By Joseph White DETROIT (Reuters) – Detroit’s automakers say they are ready to go all-electric, but at the Motor City’s auto show this week they are adding a caveat: not just yet. Ford Motor Co on Wednesday will unveil the seventh-generation of its Mustang sports car in downtown Detroit, underscoring the challenges Motor City automakers…
(Reuters) – Amazon.com Inc on Wednesday said employees at its “ALB1” warehouse in upstate New York will start voting on Oct. 12 on whether to unionize, with the ballot count expected to commence on Oct. 18. It will be the third time this year staff at a company facility cast ballots on whether to join…
DETROIT (AP) — When it came time to showcase its electric Chevrolet Equinox SUV to the public this year, General Motors decided against doing so at the big Detroit auto show, as it typically would have done in the past. Instead, it unveiled the Equinox six days earlier. GM’s decision symbolized just how much smaller…
NEW YORK (AP) — Five years after Hurricane Maria slammed into Puerto Rico and exposed the funding problems the Caribbean island has long faced, philanthropists warn that many of those issues remain unaddressed, just like the repairs still needed for the American territory’s physical infrastructure. The Category 4 storm, with winds reaching 155 miles per…
(Reuters) – Wall Street’s main indexes opened higher on Wednesday following a sharp selloff in the previous session after red-hot inflation data fanned worries about how much and how long the U.S. Federal Reserve will hike interest rates. The Dow Jones Industrial Average rose 36.05 points, or 0.12%, at the open to 31,141.02. The S&P…
By Kate Abnett BRUSSELS (Reuters) -The European Union’s executive plans to raise more than 140 billion euros ($140 billion) to soften the blow to consumers from soaring energy prices by skimming off revenues from low-cost electricity generators and making fossil fuel firms share windfall profits. The European Commission published the proposals on Wednesday as the…
BERLIN (AP) — German energy supplier Uniper said Wednesday that it is exploring the possibility of the government acquiring a majority holding in the company as its losses mount, a jump from the roughly 30% stake that the state already has pledged to take. The government put together the rescue package in July after Russia’s…
WASHINGTON (AP) — Inflation at the wholesale level jumped 8.7% in August from a year earlier, a slowdown from July yet still a painfully high level that suggests prices will keep spiking for months to come. Wednesday’s report from the Labor Department also showed that on a month-to-month basis, the producer price index — which…
