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 (ILA), the largest union of maritime workers in North America, has vocalized plans to go on strike at all of its Atlantic and Gulf Coast ports Oct. 1 if a ...
Elon Musk’s X and Starlink face nearly $1 million in daily fines for allegedly evading ban in Brazil
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 Brazil’s supreme court (Supremo Tribuno Federal or STF) amount to $5 million in Brazilian reals, about $920,000, a day. The court said it would continue to impose “joint liability” on Starlink, the ...
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 to the Kamala Harris campaign, almost two dozen local Teamsters unions and joint councils representing approximately 1 million Teamster-affiliated workers have endorsed the vice president in recent days, including ones ...
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 centers it operates as part of its push into artificial intelligence. In a joint release, Microsoft and Constellation Energy, Pennsylvania’s main utility, said Three Mile Island Unit 1, a unit ...
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 will affect tens of thousands of Boeing employees, a company spokesperson said. The plan came less than a week after Boeing’s more than 30,000 machinists in the Seattle area and ...
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 examine how it treats its youngest employees. The firm named Ryland McClendon its global investment banking associate and analyst leader in a memo sent this month, CNBC has learned. Associates and analysts ...
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, Amazon’s average starting pay for front-line employees in the U.S. will be bumped to an average of more than $22 an hour, up from roughly $20.50 an hour, the company ...
In a federal courtroom on Monday, storied fashion designer Michael Kors spoke about the steep challenge of staying relevant in a world where brands can rise and fall based on viral TikTok videos and photos of handbags on the arms of celebrities such as Taylor Swift and Beyoncé. Kors kicked off the week of testimony in the antitrust trial in ...
Amazon is requiring its workers to return to the office full time. In a note published Monday by the e-commerce giant, Amazon CEO Andy Jassy, who took over from founder Jeff Bezos in 2020, said the move to end the company’s hybrid model was designed toward ‘being better set up to invent, collaborate, and be connected enough to each other ...
Charter Communications CEO Chris Winfrey said he wants customers to think of reliability and credibility when they think of their cable and broadband provider. The cable giant told CNBC it is unveiling a series of changes Monday to bolster that goal, including rolling out new bundles and pricing, increasing internet speeds, offering credits for service outages and promising heightened reliability for ...