The United Auto Workers (UAW) strike against major car manufacturers is growing, with the union expanding its work stoppages to dozens of additional factories across 20 states. The strike began a week ago after the UAW’s contract with General Motors, Stellantis, and Ford expired. Initially, 13,000 workers walked out of three assembly plants, but now 38 more General Motors and Stellantis parts distribution centers have been affected.
About 5,600 more workers have also joined the strike, bringing the total number of UAW members on picket lines to approximately 13% of the union’s 146,000 members. With no significant progress in negotiations, the strike shows no signs of slowing down.
Source: AP News
Microsoft’s $69 Billion Deal for Activision Nears Approval
The British Competition and Markets Authority has indicated that Microsoft’s revised $69 billion deal to acquire video game maker Activision Blizzard is likely to receive antitrust approval. The watchdog stated that the new proposal addresses previous concerns about stifling competition in the emerging cloud gaming market.
While there are still some lingering concerns, Microsoft has offered remedies that the regulatory authority believes will resolve those issues. Feedback on the proposed fixes is currently being sought before a final decision is made. Microsoft’s President, Brad Smith, expressed optimism about the development.
Source: AP News
White House Prepares for Government Shutdown
The White House is preparing for a potential government shutdown as House Republicans lack a viable plan to keep the government funded. Speaker Kevin McCarthy has stated that the House will return next week to start voting on the latest plan, but with the September 30 deadline approaching, time is running out.
A group of hard-right Republicans is demanding spending cuts, and McCarthy has been unable to secure their approval for a temporary funding measure. Instead, House Republicans will attempt to pass individual spending bills, which could be a lengthy process.
Source: AP News
California Proposes New Rules for Insurance Companies
California’s insurance commissioner, Ricardo Lara, has announced his intention to write new rules for insurers in the state. The proposed rules would allow insurance companies to consider climate change when setting rates, raising concerns among consumer groups that rates for homeowners could dramatically increase.
However, Lara has asserted that the rules would also allow insurers to consider other factors that could potentially reduce rates, such as improvements made by homeowners to protect their properties from wildfires. The new rules would not go into effect until the end of next year.
Source: AP News
Rupert Murdoch Steps Down, Leaving Son in Charge of Media Empire
Rupert Murdoch, the 92-year-old media mogul, is stepping down as the leader of both Fox’s parent company and News Corp. His son, Lachlan, will assume control of both corporations. Murdoch’s creation of Fox News and his acquisition of various media outlets have made him a significant figure in American politics.
Murdoch’s exit marks a transition in the media landscape, and his empire has had a profound impact on television and the nation’s politics. Forbes estimated the Murdoch family’s net worth at approximately $19 billion. Lachlan Murdoch will now guide the future of their media empire.
Source: AP News
Americans Sympathetic to Hollywood’s Striking Writers and Actors
A recent poll conducted by The Associated Press-NORC Center for Public Affairs Research reveals that a majority of Americans sympathize with the writers and actors on strike in Hollywood. The poll shows that 55% of U.S. adults support the writers and actors rather than the studios.
The strikes revolve around issues of pay and the use of artificial intelligence (AI). Approximately half of U.S. adults believe it would be beneficial to prevent studios from replacing human writers with AI technology.
Source: AP News
Stock Market Update
Wall Street ended its worst week in six months with more losses. The S&P 500 slipped 0.2%, the Dow fell 106 points, and the Nasdaq composite dipped 0.1%. The decline was attributed to growing concerns about interest rates, as Treasury yields eased slightly after reaching their highest levels in over a decade earlier in the week.
Source: AP News
Sources:
– AP News: https://www.apnews.com/
