RENTON, Wash. — Cash-strapped Boeing is facing mounting costs from an ongoing machinist strike as workers push for higher pay. A failure to get a deal done could be even more expensive. In the…
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During a recent event celebrating Foot Locker’s 50th anniversary in New York City, it was hard to imagine that the legacy sneaker chain was appearing on bankruptcy watch lists as recently as…
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Federal Trade Commission accuses three drug middlemen of inflating insulin prices
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The Federal Trade Commission said Friday that it is suing three drug middlemen, accusing them of inflating insulin prices. The FTC accused the ‘Big Three’ pharmacy benefit managers (PBMs) —…
A major strike is on the horizon for thousands of maritime workers, posing a threat to East Coast ports responsible for billions of dollars of goods. The International Longshoremen’s Association…
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Some local Teamsters groups announce Harris endorsements after national union declines to do so
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The main national body of the Teamsters union may have declined to endorse a candidate for the 2024 presidential election, but that hasn’t stopped local units from doing so. According…
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Three Mile Island nuclear plant to help power Microsoft’s data-center needs
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A unit of Pennsylvania’s Three Mile Island nuclear plant will be restarted as part of a new energy-sharing agreement with Microsoft, which plans to use it to power the data…
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Elon Musk’s X and Starlink face nearly $1 million in daily fines for allegedly evading ban in Brazil
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Elon Musk’s X faces steep daily fines in Brazil for allegedly evading a ban on the service there, according to a statement from the country’s supreme court on Thursday. The fines, imposed by…
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Amazon increases average pay for warehouse workers and adds free Prime membership perk
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Amazon announced Wednesday it is raising wages for its hourly warehouse workers and adding a new employee perk that will give them a Prime subscription at no extra cost. Beginning this month,…
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Boeing starts furloughing tens of thousands of employees amid machinist strike
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Boeing will temporarily furlough thousands of U.S. executives, managers and other staff, citing the ongoing machinist strike as the company races to preserve cash, CEO Kelly Ortberg told employees on Wednesday. The furloughs…
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JPMorgan creates new role overseeing junior bankers as Wall Street wrestles with workload concerns
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JPMorgan Chase has created a new global role overseeing all junior bankers in an effort to better manage their workload after the death of a Bank of America associate in May forced Wall Street to…