UAW reaches agreement on pay and safety at electric vehicle battery plant
Business

UAW reaches agreement on pay and safety at electric vehicle battery plant

GM and Ultium released statements saying they were pleased with the deal. The union said it wants to use the Ultium Cells contract as a model to negotiate local deals at other battery plants that GM and its Detroit rivals are building. GM began production this year at a battery plant in Spring Hill, Tennessee, and has another under construction in Lansing, Michigan. Ford Motor plans two battery plants in Kentucky, one in Tennessee and one in Michigan. Stellantis, the maker of Chrysler, Jeep, Dodge and Ram vehicles, plans two battery plants in Indiana. Aside from a Ford location, these plants involve joint ventures that were brought under the umbrella of the UAW as part of national contracts the union signed with Ford and Stellantis last fall. The Ultium Cells contract includes moving w...
When the only way out of the war in Gaza is to buy your way out
News

When the only way out of the war in Gaza is to buy your way out

In February, when Dr. Ghayyda traveled to the Egyptian capital to register his parents, sister and nephew, he took his 23-year-old son with him to avoid carrying more than $10,000. By then he had raised about $25,000. “The whole process was quite long, complex and uncertain,” he said. In an interview in his office in Cairo, Mr. Organi spoke at length and in detail about Hala's activities, although he said his role in the company was limited and that he was just one of many shareholders. Hala has long been listed on Organi Group's website as one of the conglomerate's companies, but the reference appears to have been removed recently. Organi Group did not respond to a request for comment when asked why they removed Hala from their website. Mr. Organi described Hala as a tour company, “ju...
William H. Donaldson, the Lion of Wall Street who led the SEC, dies at 93
Business

William H. Donaldson, the Lion of Wall Street who led the SEC, dies at 93

William H. Donaldson, who made an early fortune as co-founder of the innovative securities firm Donaldson, Lufkin & Jenrette and later pushed for tougher financial regulation as chairman of the Securities and Exchange Commission in the wake of the Enron and WorldCom accounting scandals , died Wednesday at his home in Westchester County, New York, at the age of 93. The cause was leukemia, his son Adam said. Mr. Donaldson also briefly served as undersecretary of state under Henry A. Kissinger, ran the New York Stock Exchange and was chief executive of the insurance company Aetna Inc. In 1975, he was named the founding dean of Yale University's School of Organization and Management, now known as the School of Management, whose mission to train leaders for both business and government was ex...
Putin arrives in North Korea as war in Ukraine redefines ties with Kim
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Putin arrives in North Korea as war in Ukraine redefines ties with Kim

Among other things, the conflict has given Pyongyang a rare opportunity to evaluate the performance of its missiles in combat and potentially refine their designs. North Korea would also welcome greater access to sophisticated Russian military technology, including its extensive knowledge of satellites. Two months after Kim's visit to Russia last year, North Korea put its first military reconnaissance satellite into orbit, a launch that South Korean officials say was aided by technological assistance from Moscow. Russia, which has the world's largest arsenal of nuclear weapons and one of the most sophisticated submarine programs, has a number of other technologies of interest to North Korea. Despite many years of disarmament efforts by Washington and the United Nations, Pyongyang has co...
Elon Musk got 72% in Tesla shareholder vote on pay
Technology

Elon Musk got 72% in Tesla shareholder vote on pay

With the pay package, Musk would own 20.5% of Tesla, up from about 13%. He has said he would like a 25% stake, stressing in January that it would be "quite influential, but not so much that it can't be overthrown." If he didn't get such a large stake, he said, "he would rather build products outside of Tesla." Even after this week's rally, Tesla shares are down more than 20% this year, compared with a 14% gain in the broader stock market. The company remains by far the most valuable auto company, with a stock market value of $600 billion, but fears of tougher competition and declining demand for its models have weighed on the stock. At Thursday's shareholder meeting, Musk was characteristically optimistic about Tesla's self-driving technology, including the promise of a fleet of robota...