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Making Headlines
- Citigroup delivers tough-luck news to workers (msn.com)
- US national debt hits $33T for first time in history (msn.com)
- Instacart Prices IP at $30 a share, at top end of expectations (msn.com)
- Teardown of Huawei’s new phone shows China’s chip breakthrough (Reuters)
- Raimondo warns China patience of US business is ‘wearing thin’ (msn.com)
- Clash with Big 3 automakers shows off a more confrontational auto workers union as strike deadline looms (AP News)
- Qantas CEO steps down early as airline falls out of favour (yahoo.com)
Walmart surprises with industry-leading change to wages at its superstores
About 230 million customers shop at Walmart every week and the company generates $1.5 billion in sales every day.
The company’s size means it relies heavily on its 2.3 million workers. It also means that when Walmart makes decisions on employees’ pay, many competitors follow its lead.
Unfortunately, Walmart’s latest decision may not make workers happy.
Walmart navigates recessionary worry
Walmart weathered the Covid crisis relatively better than many retailers. While lockdowns impacted the U.S. economy, Walmart’s online retail sales surged, rising from $25 billion to $65 billion in 2021. In the fiscal year ending January, e-commerce revenue eclipsed $80 billion. (thestreet.com)
Elon Musk Threatens to Sue the Anti-Defamation League
There’s been plenty of drama between Elon Musk and the Anti-Defamation League (ADL), which may have just come to a head as Musk posted that he is threatening to sue. “To clear our platform’s name on the matter of anti-Semitism, it looks like we have no choice but to file a defamation lawsuit against the Anti-Defamation League,” Musk posted Monday night,” adding “…oh the irony!” (Townhall.com)
Stellantis could close 18 facilities under UAW deal — here are the full details of its latest offer
The most recent contract proposal by automaker Stellantis to the United Auto Workers union could lead to the closure of 18 U.S. facilities, but it could also bring new investments and repurpose an idled vehicle assembly plant in Illinois, sources familiar with the discussions told CNBC. (MSN.com)
WATCH: In a meeting in New York, Turkish President Tayyip Erdogan has asked Tesla CEO Elon Musk to consider building a Tesla factory in Turkey https://t.co/TnhruAA5Pn pic.twitter.com/eoJ645LCeT
— Reuters Business (@ReutersBiz) September 19, 2023
WATCH: Starbucks was ordered by a federal judge to face a lawsuit claiming that several of its Refresher fruit beverages lacked a key ingredient: fruit. The lawsuit began in August 2022, and alleged at least $5 million in damages https://t.co/9gyzL67FEd pic.twitter.com/yQ3zI3b8mL
— Reuters Business (@ReutersBiz) September 19, 2023
U.S. stocks inched higher ahead of the Fed’s rate decision, with traders scooping up some tech shares that fell last week https://t.co/wGBGCwB2GV
— WSJ Markets (@WSJmarkets) September 18, 2023
Boosting their deductible is one of the few strategies homeowners can use to reduce their premiums and keep their home insured https://t.co/PpWkRkw41g
— WSJ Markets (@WSJmarkets) September 19, 2023
Instacart said it set a price of $30 a share for its initial public offering, at the high end of expectations, in a further sign of resurgence in the IPO market https://t.co/Z6WAH50UhI
— WSJ Markets (@WSJmarkets) September 18, 2023
Looking closer at state of organized labor in metro Atlanta amid national strikes