Holdout GM reached deal with autoworkers’ union this morning; COVID-19 antiviral treatments to be distributed by commercial health insurance; McDonald’s reports strong profits on promotional sales; Southwest likely to face regulatory fine over customer service failures.
New initiatives announced by the White House would repurpose downtown offices; Treasury Department issues sanctions to block Iran’s support of Hamas; inflation held steady in September at 3.4%; Alphabet CEO Pichai to testify in Google antitrust trial.
The GDP growth rate in the third quarter was the highest in nearly two years; federal regulators issue new rules for labeling meat products as organic; jobless claims rise to a still-low total of 210,000; UAW, Ford reach tentative labor deal.
New home sales rose to their fastest pace since February 2022; Boeing losses mount amid 737 Max production hiccups; California orders GM Cruise autonomous vehicles off roads; Alphabet’s cloud unit stumbles as Microsoft’s booms.
S&P Global reported improvements in both services and manufacturing sectors; Tesla discloses expanding Justice Department probe; fossil fuel use to peak by 2030, IEA says; UAW strikes at Stellantis Ram truck plant.