CNH Industrial workers on strike since May approve new deal
More than 1,000 CNH Industrial workers who have been on strike since last May have approved a new contract with the maker of tractors, bulldozers, backhoes and other heavy equipment. The United Auto Workers union said workers in Racine, Wisconsin, and Burlington, Iowa, approved the deal Saturday — two weeks after they rejected an earlier agreement. The union didn’t disclose any details of what is included in the new contract, and the company didn’t immediately respond Sunday to questions about the agreement. This strike was one of the longest in the spate of strikes over the past couple years since the pandemic began. Workers have been increasingly demanding and getting significant raises and better benefits amid the ongoing worker shortages.
Gyms that survived pandemic steadily get back in shape
After surviving the worst of the pandemic, the nation’s gyms and fitness centers have made a comeback, often using tricks learned during the downturn to lure back customers. Owners such as Julie Bokat and Jeanne Carter in Massachusetts say some longtime clients got bored working out in their basements and welcome the sense of community a gym offers. Some gyms still offer outdoor sessions while others are tailoring classes to a new clientele that hadn’t been into exercising before the pandemic. While attendance at many locations is still below pre-pandemic levels, most owners are confident they’ve at least made it through the darkest days.
Greece expanding border wall, calls for EU help on migration
An official in Greece says the country has prevented around 260,000 migrants from entering illegally in 2022 and arrested 1,500 traffickers. A Greek minister was speaking Saturday to ambassadors from other European Union countries plus Switzerland and the United Kingdom Saturday as he guided them to a still expanding border wall in the country’s northeast. Citizens’ Protection Minister Takis Theodorikakos told the envoys that “countries of first reception” such as Greece can’t bear by themselves the numbers of migrants. Greece is expanding the existing 27-kilometer (17-mile) steel border wall to eventually cover most of the 120-mile land border with Turkey.
Google parent Alphabet to cut 12,000 jobs
Alphabet, parent company of Google, said Friday it planned to cut 12,000 jobs, becoming the latest technology company to reduce its workforce because of concerns about a broader economic slowdown, after a hiring spree during the pandemic. The job cuts are the company’s largest ever, amounting to about 6% of its global workforce. CEO Sundar Pichai said Alphabet had expanded too rapidly during the pandemic, when demand for digital services boomed, and must refocus on products and technology core to its future, such as artificial intelligence. Amazon, Meta, Microsoft, Salesforce and Twitter are among others that have announced thousands of job cuts.
Musk said his social media posts did not drive Tesla’s stock price
Elon Musk testified Friday that he was aware that he posted important information on his Twitter account about Tesla, the electric car company he runs. But he denied that his posts were responsible for swings in Tesla’s share price. Musk was responding to questions from a lawyer representing investors who say they lost money on Tesla’s stock after Musk discussed a proposal to take the company private in 2018. Investors are seeking billions in damages from Musk and Tesla. The judge overseeing the case has ruled that two of Musk’s tweets about Tesla were untrue. But the jury still must decide whether the statements led to investor losses.
Genesis, a crypto lending firm, files for bankruptcy
Cryptocurrency lender Genesis Global Holdco filed for bankruptcy late Thursday, the latest crypto company to do so after the collapse of FTX. A year ago, Genesis and a group of other large lending firms drew millions of customers with the promise that they could deposit their crypto holdings and earn sky-high returns. But Genesis’ bankruptcy filing makes it the fourth major crypto lender to fail since last spring, when a downturn in the digital asset market sent prices plunging. Other major lenders that have gone out of business include Celsius Network and Voyager Digital.
By wire sources
