Boeing has raised its offer to the tens of thousands of union employees on strike at the aerospace giant, in what the company referred to as its "best and final contract offer." In details posted to its website, Boeing's latest proposal to the members of the International Association of Machinists and Aerospace Workers promises a 30% general wage increase over four years, along with a $6,000 ratification bonus for workers if they agree to it by Friday. The planemaker also reinstated an annual performance bo ...

Intel Corp. was once the most valuable semiconductor company in the world, but the chipmaker's steady decline in recent years has put it in a vulnerable spot. The company, which is now worth less than half its value from three years ago, has now reportedly become a takeover target after being approached recently by Qualcomm with an acquisition offer, according to multiple reports.  According to The Wall Street Journal, which first reported the takeover bid, a series of missteps by Intel have led to the comp ...

General Motors issued a recall that includes nearly 450,000 trucks and SUVs with a potentially faulty brake fluid warning light.  The recall includes some 2023 Chevrolet Silverado 1500, GMC Sierra 1500, 2023 and 2024 Chevrolet Tahoe, Suburban, GMC Yukon, Yukon XL, Cadillac Escalade and Escalade ESV models.Recalled Vehicles  Some 2023 Chevrolet Silverado 1500GMC Sierra 1500, 2023 and 2024 Chevrolet Tahoe, Suburban GMC Yukon, Yukon XL Cadillac Escalade and Escalade ESV modelsThe electronic brake control modul ...

Heavy equipment maker Caterpillar is making changes after reviewing its diversity, equity and inclusion (DEI) policies amid mounting scrutiny of such initiatives at corporations around the country. A memo sent by Caterpillar executives to the company's employees that was reviewed by FOX Business explained that the DEI changes include requiring that all corporate training be oriented to focus on business operations, as well as requiring approval from senior leaders for bringing in external speakers or partic ...

A former Amazon engineer left the company after facing growing anxiety about when he would be required to go back into the office.  He quit and joined another tech firm that was fully remote in July, shortly before Amazon bumped up its in-office policy requiring employees to come in five days a week.Ticker Security Last Change Change % AMZN AMAZON.COM INC. 189.87 +3.44 +1.85% Daniel, who didn't want to provide his last name to keep his anonymity, told FOX Business that becoming an Amazon Web Services sof ...

A new agreement between Microsoft and Constellation Energy Corporation to provide power to the tech giant’s data centers for artificial intelligence is paving the way for the restart of a nuclear reactor on Pennsylvania’s Three Mile Island, the site of a 1979 partial meltdown.  The Baltimore-based Constellation announced Friday that the 20-year deal it has struck with Microsoft will create the "Crane Clean Energy Center and restart of Three Mile Island Unit 1, which operated at industry-leading levels of sa ...

A former Amazon engineer left the company after facing growing anxiety about when he would be required to go back into the office.  He quit and joined another tech firm that was fully remote in July, shortly before Amazon bumped up its in-office policy requiring employees to come in five days a week.Ticker Security Last Change Change % AMZN AMAZON.COM INC. 189.87 +3.44 +1.85% Daniel, who didn't want to provide his last name to keep his anonymity, told FOX Business that becoming an Amazon Web Services sof ...

Boeing's rough year got even worse last week when some 33,000 of its unionized workers went on strike, and the work stoppage is expected to cost the beleaguered aerospace company dearly if it extends for too long. Since Boeing workers represented by the International Association of Machinists and Aerospace Workers' Union (IAM) walked off the job last Friday, the workers and the company's shareholders have lost at least a combined $571 million, according to an analysis by Anderson Economic Group (AEG) – and ...

In a surprise move, Nike, Inc. on Thursday announced CEO John Donahoe will be retiring Oct. 13 and will be replaced by Elliott Hill, who will serve as president and chief executive and serve on the board of directors and executive committee. The move comes as the athletic giant struggles with a slumping stock price and competition from smaller rivals. The stock jumped in extended trading on the news. Ticker Security Last Change Change % NKE NIKE INC. 80.97 +0.04 +0.04% Hill will be tasked with turning ar ...

Boeing is beginning a series of furloughs in response to its largest labor union going on strike, according to a statement released to employees on Wednesday.The strike involves over 33,000 workers in the Seattle area and began on Friday after unions overwhelmingly refused tentative contract negotiations provided by the company.CEO Kelly Ortberg, who took on the role of chief executive last month, emailed all employees on "temporary furloughs" this morning.CEO OF BOEING CLOSES ON $4.1M SEATTLE HOME AMID FAC ...