Boeing machinists strike risks hit on 737 Max and jobs
Some 33,000 IAMAW machinists walked out at Boeing plants in Renton Washington after 94.6 percent rejected a four year contract offering 25 percent pay raises, bonuses, and health care changes. Boeing seeks cash conservation while Ortberg and West pursue a new deal amid a $60 billion debt load and ongoing losses.
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Stocks Close Higher on Best Week of Year
U S stocks finished the week with gains led by Microsoft Broadcom and Uber as the S&P 500 rose 0.5 percent to near its record, the Dow gained 297 points and Nasdaq rose 0.7 percent. Investors await the Federal Reserve rate cut outlook with expectations for relief amid easing inflation and a 5.25 to 5.50 percent funds rate.
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Biden tightens rules on cheap China goods amid cost worries
The White House outlines a proposed rule to curb de minimis shipments from China that dodge tariffs by listing items as worth 800 dollars or less. The plan targets dresses, shoes, toys, and bags shipped in small parcels, aiming to block unsafe or banned products and reduce reliance on Chinese imports while warning of higher prices for American shoppers. It notes 1 billion such shipments last year and cites safety and health concerns as motivation for action.
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