In a landmark victory for organized labor, workers at a Volkswagen plant in Tennessee voted overwhelmingly to join the United Automobile Workers union, becoming the first non-union auto plant in a Southern state to do so. The company said in a statement late Friday that the union won 2,628 votes to 985 against in a…
Another start-up founder goes to prison for overstating his company’s performance to investors. Manish Lachwani, who pleaded guilty last year to three counts of defrauding investors at his software start-up HeadSpin, was sentenced to a year and a half in prison on Friday. He will also pay a $1 million fine. Prosecutors said Mr. Lachwani,…
A “Now Hiring” sign is posted on a storefront in New York City on October 21, 2022. Leonardo Munoz | Show press | Corbis news | Getty Images To describe the current situation in the US labor market as stable seems to be an understatement given the latest data from the Department of Labor. That’s…
President Biden’s trillion-dollar effort to boost American manufacturing and accelerate the transition to cleaner energy sources is colliding with a surge in cheap exports from China and threatening to devastate the investment and jobs central to Mr. Biden’s economic agenda. Mr Biden is considering new measures to protect emerging industries such as electric vehicle production…
Last October, in the village of Yoshida, I stood in front of a tatara, a huge open oven filled with charcoal that raged with such controlled ferocity that it could have been a permanent fixture in Lucifer’s bedroom. Deep in the belly of those orange flames was a growing and shredding ingot containing an exceptionally…
Workers deliver drinks to a pub in the City of London, Britain, on Tuesday, April 16, 2024. Bloomberg | Bloomberg | Getty Images Inflation in the U.K. fell to 3.2% from 3.4% in March, the Office for National Statistics said on Wednesday, but a series of higher-than-expected numbers prompted investors to increase their bets on…
President Biden on Wednesday called for significant increases in some tariffs on steel and aluminum products from China and spoke to members of a national steel workers union in Pittsburgh as he vied with former President Donald J. Trump for votes in northern industrialized states. “These are strategic and targeted actions that will protect American…
One of the International Monetary Fund’s top economists is signaling a low risk of a global recession despite ongoing geopolitical uncertainty. The Washington DC-based institute this week slightly raised its global growth outlook to 3.2% in 2024 and forecast the same rate in 2025. “If we do the risk assessment around that baseline, the likelihood…
Last fall, the United Automobile Workers union won major wage increases at Detroit automakers, and the impact quickly spread to nonunion auto plants throughout the South. Afterwards, Toyota, Honda, Volkswagen, Nissan, Hyundai and Tesla increased wages for their own hourly workers in the United States, none of whom are unionized. On production lines in Alabama,…
Financial Advisor and Director of the Department of Monetary and Capital Markets, Tobias Adrian, delivers the press conference on the Global Financial Stability Report at the International Monetary Fund during the 2024 Spring Meetings of the International Monetary Fund (IMF) and the World Bank Group in Washington DC. United States on April 16, 2024. Anadolu…
