Drew Angerer | Getty Images With generative AI tools like ChatGPT bound to create more powerful personal assistants that can take over the role of customer service agents, the privacy of your online shopping chat conversations is becoming a focus of court challenges. Generative AI relies on massive amounts of underlying data — books, research … Read more
To hear the United Auto Workers’ fiery new president, Shawn Fain, tell it, Detroit’s largest automakers enjoyed years of lavish profits thanks to concessions made by its workers through the lean years before and after the 2009 recession. So as the UAW’s contract with the Big Three automakers expired in mid-September, the UAW authorized strikes … Read more
The United Auto Workers and General Motors have agreed to a deal that will put an end to collective bargaining talks between the union and Detroit automakers. GM is the final Detroit automaker to reach a deal with the union following historically contentious talks. The 4½-year tentative agreements must still be ratified by members at … Read more
Welcome to the Bloomberg Surveillance newsletter, a daily look at the best interviews and insights from Bloomberg Television and Radio’s flagship morning show co-hosted by Tom Keene, Jonathan Ferro and me. Sign up here if you’re not yet a newsletter subscriber. I’m sure that when you get this newsletter, you think, Lemme guess. Another screed … Read more
October 6, 2023 at 4:35 PM EDT US President Joe Biden touted powerful new jobs data as evidence that “Bidenomics” has driven America clear of the pandemic while maintaining employment at near record levels. Jobs unexpectedly surged in September—almost double what was expected—yielding yet more evidence of America’s remarkably durable labor market. Nonfarm payrolls increased … Read more
The UAW will not expand its strikes for the first week since work stoppages began, after the sides failed to reach tentative agreements by Sept 14. The union had been gradually increasing its strikes against the Detroit automakers but said it’s making progress in negotiations. Only 25,200 workers, or roughly 17% of UAW members covered … Read more
Among the sticking points highlighted by United Auto Workers on strike are the billions of dollars Detroit’s legacy carmakers have plunged into stock repurchases. Now, as the strike extends into its second week, some investors say they’re willing to forgo those coveted share buybacks as the companies face soaring labor costs over the next several … Read more
NEW YORK (AP) — Wall Street wheezed to more losses Friday as it limped to the finish of its worst week in six months. The S&P 500 slipped 9.94 points, or 0.2%, to 4,320.06 after a late-day swoon erased a modest gain it had held for most of the day. It capped an ugly slide … Read more
34 Mins Ago Evercore upgrades CVS on strong valuation Evercore ISI thinks CVS’ “attractive” valuation and effort to improve operational headwinds will boost shares. The firm upgrade CVS stock to outperform from in-line in a Tuesday note. “CVS, like many [managed care organizations], is a complex organization, and we see a number of factors swinging … Read more
Welcome to Bw Daily, the Bloomberg Businessweek newsletter, where we’ll bring you interesting voices, great reporting and the magazine’s usual charm every weekday. Let us know what you think by emailing our editor here! If this has been forwarded to you, click here to sign up. Stacked in the vaults of the New York Public … Read more