By Jonathan Stempel (Reuters) – Berkshire Hathaway announced on Tuesday that it has divested its holdings in General Motors and Procter & Gamble, and reduced its stake in Amazon.com, as the conglomerate controlled by billionaire Warren Buffett increased its cash reserves to a record $157.2 billion. In a regulatory filing detailing its U.S.-listed stock holdings …
The clean-energy industry is currently experiencing its worst downturn in years, resulting in a significant decline in its overall value and posing a serious threat to America’s environmental objectives. Major auto manufacturers such as General Motors (GM) and Ford Motor (F) have postponed their plans to introduce electric vehicles. Offshore wind developers are also canceling …
Autoworkers and now Detroit’s casino workers find themselves at the center of attention, with strikes becoming a common sight. Following in the footsteps of their counterparts in the auto industry, thousands of gaming industry workers are seeking pay raises, improved healthcare and retirement benefits, and job security in the face of advancing technology. The strike …
Good morning, Quartz readers! Here’s what you need to know. The US takes a new step in the chip war with China. The Commerce Department has expanded on last year’s export controls to prevent China from accessing advanced semiconductors. General Motors slows down production of electric pickups, while Stellantis cancels its January CES appearance. GM …
Photo: Chevrolet General Motors is delaying production of its electric pickup trucks at its Orion, Michigan factory for a year due to “evolving EV demand,” as reported by Reuters. This decision suggests that the anticipated EV demand may not be as strong as initially projected by automakers. I Need A Delightful Daily Driver | What …
In addition to Tesla, General Motors’ Cruise autonomous vehicle division is also facing scrutiny over its self-driving cars. The US regulators have launched an investigation into reports that Cruise vehicles may not have taken proper precautions around pedestrians on roadways. The National Highway Traffic Safety Administration (NHTSA) is concerned about instances where the automated …
The Future of Driverless Cars in America: New Cities, New Challenges The future of driverless cars in America is arriving in style, complete with a surfboard and a movie director’s clapboard as part of a promotional booth. Robotaxis have officially made their debut in Los Angeles, and residents were eager to get their hands on …
During a conference call on Thursday, a senior Ford executive expressed concerns about the United Auto Workers’ strike at the company’s most profitable factory. Kumar Galhotra, head of Ford’s combustion vehicle unit, stated that the automaker is “at the limit” of what it can spend on higher wages and benefits for workers. Galhotra emphasized that …
United Auto Workers President Shawn Fain declared on Friday that the union’s ongoing strike against Detroit’s Big Three automakers is yielding significant concessions, negating the need for further expansion of the work stoppage at this time. “We are achieving victory, making progress, and moving in the right direction,” proclaimed the union leader in a Facebook …
The United Auto Workers announced on Friday that they will not be expanding their strikes against Detroit’s three automakers. This decision came after General Motors (GM) made a significant concession regarding unionizing electric vehicle battery plants. In response, GM agreed to include workers at battery factories in the UAW’s national contract, ensuring their representation …