Biden presses for fair UAW deal in pivotal auto talks
President Joe Biden urged the United Auto Workers and Detroit's Big Three to reach a fair agreement as talks over wages benefits and EV transitions loom ahead of the September 14 contract expiry. He called on GM Ford and Stellantis to avoid plant closings and ensure transitions retool rehire in the same communities with wage parity.
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Joe Biden
United Auto Workers Union
Detroit
U.S
Biden
General Motors Co
Ford Motor Co
Stellantis NV
United Parcel Service Inc
International Brotherhood of Teamsters Union
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Gene Sperling
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White House
UBS to pay 1.44 billion to settle housing crisis case
UBS will pay 1.44 billion dollars to U S authorities to settle the last major case tied to Wall Street mortgage securities from 2006 and 2007. The settlement accuses UBS bankers of misleading buyers about mortgage health in violation of federal securities law. Banks had faced more than 36 billion in civil penalties overall from the crisis era.
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New York
UBS
U.S
Wall Street
Credit Suisse
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Switzerland
Justice Department
Cost per wear guides shoppers through inflation
Jake Welch tracks yearly wardrobe value by listing 200 items, prices, and uses. Retailers now promote durability and versatility to combat rising costs. Kohl's Untuckit and Gap Old Navy push longer lasting pieces while Temu and Shein grow on low prices.
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New York
Jake Welch
Welch
Erda
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Gap
Old Navy
Kohl’s
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American Eagle
Christie Raymond
Kohl
Stocks drift higher ahead of retail reports
Wall Street edged up as investors awaited a week of retail data to gauge consumer strength. The S&P 500 rose 0.6 percent to 4489.72 while the Dow gained 0.1 percent to 35307.63 and the Nasdaq climbed 1.1 percent to 13788.33. U.S. Steel surged after rejecting a buyout from ClevelandCliffs, which jumped on an offer of more than 7 billion dollars. Nikola slipped after recalling over 200 electric vehicles amid a battery pack issue linked to a past fire at its headquarters. Critics warned of a coming pullback as inflation cooling expectations faced the risk of a recession.
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Gredit Suisse
Anne D’innocenzio
Neil Saunders
Global Data Retail
Temu
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Shein
China
JaysAuto Sales Inc
Net
Wadsworth
Jdog
the Market IN Review
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