Business Highlights: A summary of the day’s top stories in the business world.
FTX attorneys accuse Sam Bankman-Fried’s parents of unjustly enriching themselves with company funds
SAN FRANCISCO — Instacart delivered in its stock market debut. The San Francisco-based company’s shares rose 12.3% Tuesday after they started trading on the Nasdaq stock exchange under the ticker symbol “CART.” Instacart provides delivery and pickup from 85% of U.S. grocers, or more than 80,000 stores, using a network of 600,000 freelance shoppers. It says it has 7.7 million active customers and much more potential growth ahead.
WASHINGTON — Speaker Kevin McCarthy is trying to accomplish what at times seems impossible. The Republican speaker is working furiously to convince his colleagues to come together to pass a conservative bill to keep the federal government open. But it has little chance of actually preventing a federal shutdown. Whatever Republicans come up with in the House is expected to be rejected by the Senate where Democrats and most Republicans together want to fund the government.
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Business Highlights: Fed poised to leave rates unchanged; Auto workers threaten to escalate strikeBusiness Highlights: A summary of the day’s top stories in the business world.
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UAW, Detroit Three automakers try to reach deal before strike widens By ReutersUAW, Detroit Three automakers try to reach deal before strike widens
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Sen. Bernie Sanders joins United Auto Workers strike in MichiganSenator Bernie Sanders condemned auto corporations and cheered on UAW strikers.
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Republicans look to turn UAW strike into electoral gainsThe GOP under Donald Trump has moved away from automatically backing big business and made modest gains among blue collar workers.
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UAW union leader demands 40% pay raise, a shorter workweek as autoworkers’ strike drags onUnited Auto Workers President Shawn Fain said Sunday that a 21% raise for its union members was “definitely a no-go” amid demands for Detroit’s Big Three automakers to pony up a 40% pay boost, better benefits and a shorter workweek.
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Contract negotiations: UAW strike puts the four-day workweek back in focus(CNN) — When the United Auto Workers called a strike last week against General Motors, Ford and Stellantis, one of their demands focused on an idea circulating on the periphery of labor refor…
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