this has been a black cloud in terms of over ford and gm still- terms of over ford and gm still aren'taying massive catch up on the union gives them one hand behind their back when they are going up against the foreign auto—makers. tesla still owns the electric vehicle market and it will be an uphill climb for ford and gm but at least now the uaw debacle is over they can try and gain some market share for next year, but it's deftly going to be a glass half empty view from the investor perspective. empty view from the investor perspective-_ empty view from the investor perspective. empty view from the investor --ersective. ., , , perspective. finally there is a sign that the likes — perspective. finally there is a sign that the likes of _ perspective. finally there is a sign that the likes of stellantis - perspective. finally there is a sign that the likes of stellantis will - that the likes of stellantis will try and get ahead of the game and position themselves and i'm hearing about this 21% stake that they have made in the chinese ev maker. what do you make of that? is that —— that's

we'll get a glimpse into what this means for the auto—makers' bottom lines when gm and ford report quarterlyst, the union has used earnings reports and executive pay to fuel its argument that the companies can afford concessions to workers. gm reports tuesday, giving wall street the first look at strikes' impact. ford follows on thursday. tens of thousands of women in iceland, including the prime minister, katrinjakobsdottir, are refusing to work today. the strike has been called in protest against gender—based violence and inequality. it's the first full—day action of its kind since 1975 — when 90% of icelandic women took part. industries including health care, education and air travel are expected to be disrupted. jane foley, head of fx strategy at rabobank told us that iceland has topped the world economic forum's gender gap index for the past 14 years. according to the world economic forum, their top of the list. and there have been for 14 years. and behind them are some of the other nordic countries, too. but we've got to remember that iceland is a very small country. it's about the sam

gm reaching a tentative deal with the uaw after ford and stellantis did as well do these deals set the auto industry up for success or cripple the companies with long-term costs? >> plus, president biden issues an executive order on artificial intelligence, it covers safety, civil rights, and maybe the biggest threat of all from ai, will it take humans' jobs away we'll discuss the impact this could have with a great panel. >> looking forward to that first, let's get a check on the markets. the dow is leading the way, up 506 points today the s&p, the nasdaq gains are now approaching about 1.2% the laggard has been the russell 2000 mcdonald's reporting results, beating on the top and bottom lines. same store sales up more than 8%, thank you to higher menu prices you can see, of course, that's helping the dow. the shares are up about 2% and a real estate deal to tell you about. realty income buying spirit realty capital for $9.3 billion. no relate to spirit halloween. they own 2,000 properties, mostly retail stores and warehouses as tyler mentioned, gm reaching a tentative deal with the u

but at least now the uaw debacle _ ford and gm but at least now the uaw debacle is _ ford and gmgain some _ debacle is over they can try to gain some market share until next year but it's_ some market share until next year but it's going to be a glass half empty— but it's going to be a glass half empty view from the investor perspective. empty view from the investor pempective-_ empty view from the investor perspective. empty view from the investor --ersective. , perspective. there is the light -- si . ns perspective. there is the light -- signs that _ perspective. there is the light -- signs that the — perspective. there is the light -- signs that the likes _ perspective. there is the light -- signs that the likes of _ perspective. there is the light -- signs that the likes of stellantis l signs that the likes of stellantis are trying to get ahead of the game and i'm just hearing about a 21% stake they've made in the chinese ev maker so what you make of that? is it something we will see increasingly in order to stay competitive? it is backs against the wall, and they will look a

market is worth trillions of dollars, and you could say the overvalued tesla or the undervalued ford and gmand a miserable investment, even those making a lot of money long term, ford and gm are looking like value traps because they spent fortunes on electric vehicles just when we realized that most of these cars are too expensive for consumers. the batteries are too expensive too, when you thrown a huge win by united auto workers, you are left with a plan in tatters, and worse ford and gm are against tesla, and he's like rockefeller building standard oil, he has a lower cost basis then a nonunion workforce and maybe uaw to change that, think back to her interview with stephen sure, they are all in on tesla, and a lot of repairs which are difficult to do, and they depreciate rather rapidly, which is quite opposite of what he predicted, the appreciation with ridesharing, pretty much would be idle time spent. appreciation no? depreciation. it's hard for a publicly traded company, making a product that fewer and fewer people seem to one, it is being replaced by sticker shock and interest charg

ford motor co has said that it put its best offer on the table and that includes a 23% wage increase over the next five years. it is more than gmeanwhile sean fein did not miss words saying, quote, if ford wants to be the all—american auto company they can pay all—american wages and benefits. he spoke during a press conference on monday and he said the strike is a boon for the auto industry's international competitors. we can sto international competitors. we can step this _ international competitors. - can stop this now and i call on my great uaw colleagues, some of whom i have known for decades, many are close personal friends. decades, many are close personalfriends. we need to come together to bring an end to this acrimonious round of talks. , ., ., ' to this acrimonious round of talks. , ., .,' ., talks. the stand-off now includes _ talks. the stand-off now includes more _ talks. the stand-off now includes more than - talks. the stand-off now i includes more than 34,000 talks. the stand-off now - includes more than 34,000 union members on strike at ford, gm and still enters and negotiations are ongoing. turning our attenti

shawn fain telling members not to let messaging from ford, gm and stellantis get them to give up the fight for justice. fain made the comments while working outside the stellantis plant in ohio. adding the automakers are trying to cause doubt with the membership and the leadership. the comments coming after critical remarks by ford and g ceos over talks with the union. >>> the chairman of china evergrande is investigated on suspicion of transferring assets offshore while the developer struggles to complete projects. this is according to "the wall street journal." had this comes after the developer revealed he was under police watch and suspected of committing unspecified crimes. >>> tesla rolling out the updated version of the model y in china. the car features minor changes to the exterior and interior. the price for the updated model y will remain at $36,000. >> that price war is continuing in china. >> it is. >> tesla shares up right now. silvana, thank you. >>> a lot more ahead on "worldwide exchange," including the one word investors need to k know. >>> later, the trial of ftx c

layoffs are at about 7,000 at ford, gm and stellantis as a result of this strike. end-around a shawn fein, the uaw president. listen to his appeal. >> i call on my great uaw colleagues, some of whom i've known for decades, many are close personal friends, we need to come together to bring an end to this acrimonious round of talks. >> reporter: and, stuart, the strategy seems to be that the uaw would like the get a great contract from gm, ford and stellantis, and if they do, they can go to the non-union i automakers like tesla and toyota and say, hey, maybe you guys better go union. we'll squeeze them too for you. not a bad strategy even if you don't like it. mr. veryny? [laughter] stuart: it might work, you know? thanks, jeff. come on in, ashley. tell me about the tentative deal between kaiser permanente and the health care workers. ashley: yeah. more positive muse on this strike. -- news on this strike. under a tentative agreement, reports say california workers will receive a minimum hourly wage of $25. that, by the way, is where most of kaiser's facilities are lo

the car models involved were made between 2020 18 by a dozen car makers, including gm, ford, toyota,la and more. regulators say the odds of a rupture are low, but warn the impact could be severe. the issue is now open for public comment. it is not related to previous takata airbag recalls. we have more details on our website. >> we turn now to a controversy in college sports. a trans athlete joining a women's swim team in virginia, igniting debate and protest. this morning, members of the roanoke college women's swimming team are calling for change after a trans athlete was allowed to join their team. >> it is my wish for women to have fair competition, to have their voices heard and to be protected. >> did the school gave a transgender athlete permission to swim with the women's team? two years after swimming with the men's team, that swimmer has since withdrawn the request, but ten members of the women's team are now calling on usa swimming and the ncaa aa to change the rules that allow transgender athletes to compete to raise the swimmer who has an advantage in the water that our

called now, it said the deal was uaw members take some short-term cuts for the long-term survival of ford gm and chrysler. that's the promise we made and that's the promise that was broken. all right, that shows obviously a... how they were chipped uh out of what was supposed to be coming to them. next up a website uh we refer to where it said more big strikes loom with thousands of healthcare and casino workers set to walk off the job. well guess what, when we had this entry that already has happened. this entry said there is a feeling that the system is fundamentally unfair to the workforce that is doing all the hard work, went to say what is driving the protest? the clining real wages, a tight lamur market and robust corporate profits only. bolsters the case for for workers. uh, next, the website where it talked about the largest healthcare strike in us history, the coalition of kaiser permanenta unions to have accused kaiser of negotiating in bad faith and committing unfair labor practices. uh, then a tweet on this on x, solidarity forever with the 75,000 workers at kaiisa permanente, wh

. >> tvs, electric vehicles may be the graveyard for detroit ford and gm went all in and the ev transitionht of the biden administration yet now they're paying the price repeat up production of ev spending billions of dollars a year for cars and americans don't seem to want, ford will lose $4 billion on tvs and you can't say how bad it is and scaling back their modest production goals of this year. jack: you still have ford electric f150, the lightning, the stocks are supercheap at five and seven times earnings is this an opportunity to buy something that everyone hates or is it a trap. >> it could be a value trap of ford and gm and lightning sales already, gm is barely producing any ev's and people don't seem to want that, i would focus on bmw which is focused here favorably last week which has sensible ev strategy and the japanese automakers went slow on tvs with criticism through the climate activist but looking pretty good right now. jack: let's go to actionable ideas, what do you have. >> semi conductor they got hit when texas instruments reported tougher earnings but they're actually

we'll get a glimpse into what this means when gm and ford report currently earnings this week. union have used pay and reports to fuel the argument that the companies can afford concessions to workers. gm reports tuesday. given wall street verse look at the impact of the strikes. ford follows on thursday. staying in the us, rumblings in the market appear to have concerned investors. the snp closing at its lowest since may, that has led to higher demand for government bonds, also called treasuries. often viewed as a safe—haven investment. leading to a fall in the yield. a boost in demand pushes up prices leading to a fall in the yield, but that has bounced back amid concerns that the fed will continue to hike rates. i spoke to tim murray about the implications. we'll probably see the curve skirt or come close to it in the next three months or something like that. normally, the short end of the curb comes down and goes below the longer curve, the longer end of the curve comes up, but in this case, the long end is coming up. that's something we really have never seen before and we

at 2:00, we will hear from uaw president shawn fain for an update on the strike against ford, gm, andtis. this has become a friday tradition. definitely stay tuned for that decision because used car prices continue to climb. inventory continues to drop. and workers, many of them, are still on strike. for jon erlichman, i'm matt miller. this is bloomberg. ♪ the first time you made a sale online with godaddy was also the first time you heard of a town named dinosaur, colorado. we just got an order from dinosaur, colorado. start an easy to build, powerful website for free with a partner that always puts you first. start for free at godaddy.com loving this pay bump in our allowance. wonder where mom and dad got that athe extra money?irst. maybe they won the lottery? maybe they inherited a fortune? maybe buried treasure? maybe it fell off a truck? maybe they switched to xfinity mobile on the most reliable 5g network. for a limited time, buy one line of unlimited, get one free for a year. now i can buy that electric scooter! i'm starting a private-equity fund that specializes in midcap. you

we will get a glimpse into what this means when gm and ford report currently earnings this week. he union have used pay and reports to fuel the argument that the companies can afford concessions to workers. gm reports tuesday giving wall street the first. ford falls on thursday. staying in the us, ramblings and the market appear to have concerned investors. the snp closing at its lowest since may, as you can see. often viewed as a safe haven investment. leading to a fall in the yield. that has bounced back on concerns that the fed will continue to hike rates. i have spoken to tim murray on the implications. we i have spoken to tim murray on the implications.— the implications. we will probably _ the implications. we will probably see _ the implications. we will probably see it _ the implications. we will probably see it skirt, - the implications. we will l probably see it skirt, close the implications. we will - probably see it skirt, close to it in the next three months or something like that. normally, when the short end of the curb comes down and goes belong the longer end of t

logging into facebook is not consent for the platform top send users ads. >>> ford and gm announcing und of layoffs as the strikes enter the third week. ford said it idled two factories that supply parts to the plant in chicago who worker are on strike and let go 330 employees. gm says it was forced to layoff 130 workers at a plant just outside cleveland and sent home another 34 at a factory in indiana all tied to the strikes. now 25,000 uaw strong. >>> and the high profile investors including bill ackman is sweetening the deal for the offer for sculptor. they offered $13 a share which is up from the previous $12.76 offer. sculptor agreed to sell to rhythm capital to $639 million. frank. >> i see it is up 6%. silvana, thank you. >>> turning attention to big tech. microsoft a.i. assistance for the office suite is several weeks away from going on sale. a number of testers got their hands on it as they look to get a leg up in the a.i. arms race. steve kovach has more. >> frank, can anyone generate meaningful sales from the a.i. boom? microsoft is about to try a month from now with the la

meanwhile tens of thousands of uaw workers continue to strike against ford, gm, and stellantis, thoughcided not to expand that walkout following an agreement from gm on electric vehicle manufacturing. >>> all right, everybody likes to save a little money just before the holidays. amazon is kicking off its prime big deal days today. the discounts run through october 11th, of course, only for prime members. that's your "cbs moneywatch" report for this tuesday morning. i'm jarredhill, cbs news, new york. >>> well, you're going to have to shell out another $2 if you wantlet to win the powerball lottery jackpot. there was no grand prize winner so the jackpot is now $1.7 billion. that is now the second largest in powerball history. the lump sum payment is estimated to be $756 million before taxes. the next drawing is tomorrow night. >>> up next, naked and rescued. why a man had no clothes on when he was picked up from his capsized boat. ed boat. this i is a hot flflash. ththis is a hohot flash. but ththis is a nonot fl. ♪ i gotot a good fefeeling ♪ therere's bibig news foror wn goining throu

we will get a glimpse into what this means when gm and ford report currently earnings this week. ued have used pay and reports to fuel the argument that the companies can afford concessions to workers. gm reports tuesday given wild streak the first book. ford falls on thursday.- streak the first book. ford falls on thursday. staying in the us, ramblings _ falls on thursday. staying in the us, ramblings and - falls on thursday. staying in the us, ramblings and the l the us, ramblings and the market appear to have concerned investors. the snp closing at its lowest since may, as you can see since... 0ften its lowest since may, as you can see since... often viewed as a safe haven investment. ——s&p leading to a fall in the yield. that has bounced back on concerns that the fed will continue to hike rates. last week, the treasury reach the highest level in 16 years, and on that, i've been speaking to tim murray on the implications of. tim murray on the implications of, ., ., , �* tim murray on the implications of, ., �* , of. so far, it hasn't been particularly _ of. so far, it hasn't b

the strike came after it actually reached a deal with ford. gm'sudes wage increases, improvements to pension plans, retiree income support, additional paid holidays and a process for full-time temporary workers to become permanent employees. so if that gets agreed, that that strike will be over. stu. stuart: got it. ashley, thanks very much, indeed. it's that time when we bring you all 30 of the dow stocks to just to give you a sense of the market. more sellers than buyers, that's for sure. we've got about 10, about one-third of the dow 30 are up, two-thirds down. there's no real price trend on the market this morning. the dow is down 35, nasdaq's up about 30. not much price movement and no clear trend. >>> next, we're learning more about the scale of atrocities committed by hamas. our war coverage continues in just a moment. ♪ ♪ this isn't just freight. these aren't just shipments. they're promises. promises of all shapes and sizes. each, with a time and a place they've been promised to be. a promise is everything to old dominion, because it means

the uaw is pushing ford, gm, and stellantis for better pay and other benefits.give an update on negotiations this afternoon. >>> there's a major candy recall ahead of halloween trick-or-treating. more than 70 million rolling candies are being pulled off of shelves because of a choking hazard. they're the slime licker sour rolling candy and coco candy rolling candy. a ball that you roll on your tongue to get the flavor out can dislodge. regulators say earlier this year a 7-year-old girl choked to death on one of these. people should stop using them immediately. >>> and the girl scouts are dropping a cookie from the troop. the raspberry rally is being discontinued. it debuted just last year. this was the girl scouts' first online-only cookie designed to teach e-commerce skills. they sell for $5 a box, but resellers had them going for as much as $30 on ebay. don't worry, though, all the classics are going to be back come cookie season in january. >>> that's your cbs "money watch" report for this any morning. -- this friday morning. i'm jarred hill, cbs news, new yo

called now, it said the deal was uaw members take some short-term cuts for the long-term survival of ford gm and chrysler. that's the promise we made and that's the promise that was broken. all right, that shows obviously uh how they were. out of what was supposed to be coming to them, next up a website we refer to where it said more big strikes loom with thousands of healthcare and casino workers set to walk off the job, well guess what, when we had this entry, that already has happened, this entry said there is a feeling that the system is fundamentally unfair to the workforce that is doing all the hard work, went out to say, what is driving the protest? declining real wages, a tight lamur market, and robust corporate profits only bolsters the case. for for workers uh next the website where it talked about the largest healthcare strike in us history, the coalition of kaiser permanenta unions to have accused kaiser of negotiating in bad faith and committing unfair labor practices. uh, then a tweet on this on x, solidarity forever with the 7500 workers at keisa permanente, when you win this

workers are on strike against ford, gm and stellantis. senator has pleaded not guilty, this time to federal charges. he is accused of taking bribes but he is denied wrongdoing. in russia, a court ordered russian-american journalist, alsu kurmasheva, to stay in custody until early december she appeared in a hood and mask, held in a defendant's box. she'd been detained last week on charges of failing to register as a foreign agent. evan gershkovich of the wall street journal, is also being held in russia on espionage charges. the united states is vowing to defend the philippines after chinese ships collided with vessels in the south china sea. it happened sunday off the disputed second thomas shoal, where beijing has sweeping territorial claims. video caught a chinese vessel ramming a philippines supply boat. then, another chinese ship blocked the philippines' coast guard from approaching. manila condemned the actions. >> we are here to really decry in the strongest possible terms this egregious violation and illegal act within the 200 naut

plan for them and now all the big vehicles that make a lot of money are on strike somewhere for ford, gm to the picket lines, here in pennsylvania because they have 5000 extra folks walking it as well as getting support from the teamsters in new york. this thing is happening. neil: it is certainly not on happening as they had hoped. about 145,000 uaw's, now 1/3 of them have walked off the job. keep track of that, "the big money show" coming up at the top of the hour, jackie deangelis. jackie: we have two stories we are following today, first the latest on the war in israel. we ask our military expert about big targeted strikes on hamas leaders and how the hostage rescue and pending ground invasion and the battle on capitol hill, where we are in the race for speaker. we have a nominee at the top of the hour but more coast-to-coast after this. ♪ is it possible to fall in love with your home... ...before you even step inside? ♪ discover the magnolia home james hardie collection. available now in siding colors, styles and textures. curated by joanna gaines. ♪ explore endless design possibili

layoffs continue to mount as a result of the strike we are at 7,000 if you total all of them ford gmher workers on stick? that number is over 40,000 maria. you mentioned walkout yesterday it with a as surprise strike got pictures of uaw president shane fain stellantis plant where they make high dollar 1500 truck, that is biggest plant and most profitable plant now on strike. fane agency strike unfolding said for the first time i heard him say they don't really want to be on strike. >> we want an agreement done that is what set about getting a fair agreement for our members we don't want to be out on strike we are going to do whatsoever the hell we got to do to get it. reporter: response we are trained they say uaw would and an they said they had multiple conversations thought productive left bargaining table expecting a counteroffer, still waiting they say, maria old days used to get ugly on picket lines here with people busting heads strike breakers coming in, nobody talked publicly. now ugliness in immediate no busting heads on picket line i guess a positive. maria: a lot of risky

we'll get a glimpse into what this means for the auto—makers' bottom lines when gm and ford report quarterlyecutive pay to fuel its argument that the companies can afford concessions to workers. gm reports tuesday, giving wall street the first look at strikes' impact. ford follows on thursday. around the world and across the uk, this is bbc news. bbc news — bringing you different stories| from across the uk. for generations, people in wellingborough have walked through these lime trees. campaigners want that to continue. in february, protests stopped contractors felling the trees to make way for an access road to the new stanton cross housing development. around 16 were chopped down — though around 45 were temporarily spared. now campaigners have been told by a high court judge their protest can go to a fulljudicial review. these are our heritage. there's a heritage of wellingborough. wellingborough walks is a natural amenity, and almost a natural monument within our town. the developers say they've paused work while the legal challenge takes place, but can't comment until it's resolved. tha

vice president said that the was strategy two. >> we're going back to work at ford to the keep the pressure on stellantis and gm thing they want is for ford to get back to full capacity while they mess around and lag behind. >> reporter: jim farly, the ceo of ford, had little to say last night but his statement said they are focused on restarting the kentucky truck plant, the michigan wayne plant and the one in chicago that makes the explorers to get their 20,000 workers back to work. maria, i would leave you with this. you know, it sounds they got a great deal. it's a real great deal. what about those nonunion plants in the south from the foreign competitors? maybe that gets them to think about bringing the union in too and that would not break the hearts of the folks at ford, gm and stellantis who feel like they've got labor disadvantage when it comes to competing with nonunion plants. maria: that's right. >> reporter: winners all around, maybe. maria: throughout the whole strike, several weeks, you've seen no striking at places like tesla and toyota and the international makers so we'll see if any market sha

when we look back next year at the revenue line for example of gm, ford, stellantis. take a big hit because of the strike? keith: the immediate damage is estimated to be over $2 billion in lost earnings between the three of them. at ford it is estimated to be between $888 million coming into this week. that is the immediate damage. the longer-term question is, what does it due to their competitiveness? does it drive their labor costs so high they cannot compete with tesla? matt: it will be interesting for sure. keith, thank you for joining us. bloomberg's keys not on talking about the latest from the uaw strike. more ahead. this is bloomberg. ♪ explore endless design possibilities. to find your personal ♪ style. endless hardie® siding colors. textures and styles. it's possible. with james hardie™. was also the first time you heard of a town named dinosaur, colorado. we just got an order from dinosaur, colorado. start an easy to build, powerful website for free with a partner that always puts you first. start for free at godaddy.com matt: the united states of america h

the united auto workers are in their third week of strikes against ford, gm, and stellantis, which makesunder the chrysler, jeep, and dodge brands. a work stoppage that has slowly grown to 25,000 workers at dozens of locations. their demands? higher wages, better benefits, better job security. the automakers saying they have already made generous offers including a wage increase of 10% to start, reaching 20% by year four. >> companies and organizations are really struggling to get enough workers these days. so, workers have the power now. they can leave, they can quit, they can go on strike, they can ask for better benefits, they can ask for a working wage. >> reporter: and while the writers strike in hollywood has been resolved with them getting significant advances and late-night talk shows resuming, the standoff between the actors union and the hollywood studios continues. so the production of new shows and movies is at a standstill. are all these strikes hurting the economy? >> they're not helping, but they're not damaging to a huge extent. the u.s. economy is truly huge. what would

su keenan: from ford and gm, both are out with tough worth and mother target with strike action.gainst additional plants for both companies -- they believe we could reach a compromise and the uaw is holding them hostage. they're saying they're trying to work on issues outside the actual contract talks. you're looking at supply chain ffect. a lot of concern that as the strike continues, it is alrdy hurting what has been a fragile supply chain yet to recover fully from the impact of the pandemic. you have gm's ceo out wit similar tough words accusing uaw leadership of dragging out the strike longer as part of a plan to further their own agendas. gm went on to say the aw dent wants to make history for himself but is worried it might be at the detriment of union makers. each of the companies are negotian separately and the parent many of jeepnd chrysler was spared strike action because of a last-minue breakthrough. you looking at how stocks fared on friday, all taking a hits the strike expanded cause of the announcement. it is important to know that while stellantis was offered a 20%

auto markers like ford, gm, and stellantis are looking at 12% in a good year. prices down and still make a good share. we are joined by the cover of the auto sectors. is tesla willing to take a bite off is profitability and grab market share from income and start trying to come online? >> absolutely. elon musk has stated this is the strategy. tesla has a huge advantage. they have a huge advantage on this. they have driven down their costs and are nonunion. elon musk is very -- this is the plan. everyone always of the story with tesla was to wait until there was more competition from other carmakers. here it is and he is cutting prices to a level they cannot sustain. jon: i want to talk about another automaker, the lantus, specifically the jeep brand. you did an excellent piece that gets into the market they have been catering to recently. higher price vehicles are catching on. but may be a risk to their core customer. gabby: i want to be clear that we have seen prices rise dramatically in off the auto industry. if you go back five years, the average price is a

the united autoworkers are in their third week of strikes against ford, gm and stellantis which makes vehicles under chrysler, jeep and dodge brands. 25,000 workers at dozens of locations. their demands? higher wages, better benefit, better job security. the automakers say they have already made generous offers including a wage increase of 10% to start and reaching 20% by your fear. >> they are struggling to get enough workers so workers have the power. they can leave, quit, go on strike, ask for a working wage. >> reporter: and while the writers strike in hollywood has been resolved with they willing significant advances and late night talk shows resuming, the standoff between the actors union and hollywood studios continues so the production of new shows and movies is at a stands standstill. is it hurting the economy? >> they are not helping but they are not damaging to a huge extent. the u.s. economy is truly huge. what would be damaging in a bigger sense would be the longer the strikes go on. and the more there are of them. >> reporter: while the kaiser strike is temporary, there

union represents more than 4000 gm employees are trying to get them to sign a deal that matches ford. gmalready dealing with strikes in the u.s. by united auto workers. shares of samsung and sk hynix moving higher on news biden administration will let them ship key equipment. the decision removes the overhang for the chipmakers allowing them to operate in the world's biggest chip market long-term. sk hynix warned that escalating -- will force them to sell. we will talk about all things sustainability as regulation is on the horizon. that conversation is ahead ahead of bloomberg's summit. this is bloomberg. ♪ host: welcome back to "bloomberg daybreak: europe." ahead of another european winter a new regulation due at the start of the year, business leaders are paying more attention to sustainability efforts. gwenaelle avice-huet from schneider electric joins me. an early riser. let's talk about the costs associated with sustainability. it feels like from an americans point of view that this was a transition born out of economic need. the war in ukraine creating a tailwind of a release from

at least i think they are huge. 25% is the headline figure the uaw will be getting from gm, ford and stellantis. really record-breaking wage hikes thanks to the strikes and the new leadership. let's talk about the state of labor with the former u.s. labor secretary robert reisch, currently university of california berkeley professor. great to get you on the program thank you for your time, professor. what do you make of the gains we have seen out of the uaw and the most recent negotiations with gm, ford and stellantis. sec. reich: this agreement has not been ratified yet. it is groundbreaking if not earth shattering. i say that because it marks a really substantial increase not only in wages, cost-of-living adjustments, and a lot of other things that if you asked me six month ago i would say very unlikely it becomes part of the new bargain. yet there is. it has -- i would expect and we can get into this if you want that very soon we are going to see either uaw target tesla and the u.s. divisions of some of the foreign automakers like honda, toyota and bmw. matt: how do you think they

ford and stellantis. certainly, getting a deal in canada takes one big thing off gm's plate. ford also has a deal with canada. the two of them can move forward to try and resolve the strike in the united states. matt: i am sure we will hear from you again this week. keith naughton covering strikes across north america. really focused on ford in detroit as well. we will get more from keith as that story revolves. coming up, pepsi raises its forecast and says it has not seen any impact from dieting drugs. we will discuss that with the cfo, next. this is bloomberg. ♪ the first time you made a sale online with godaddy was also the first time you heard of a town named dinosaur, colorado. we just got an order from dinosaur, colorado. start an easy to build, powerful website for free with a partner that always puts you first. start for free at godaddy.com jon: this is "bloomberg markets" . i'm jon erlichman with matt miller. time for the stock of the hour. pepsico, that stuck up today. the snacks and rings giant showing off its pricing power in the latest quarter. there is a look at

but it turns out bmw shipped more cars and more everybody vs in the third quarter than rivian, ford and gmen successful by making electric versions of the cars people already like. if you like their sedans, there's an electric version. if you like their sports cars, there's an electric verse. al root teak -- took their suv for a spin, he says it's just like a regular suv is, it goes a heck of a lot faster. >> how does it stack up on valuation? >> like a lot of these stocks, it is dirt cheap. very similar to the others. it also has a lot of cash on the balance sheet which makes it look cheaper. but the best thing about it is that it actually has 15% of its total sales are battery electric vehicles more than volkswagen, gm and ford, and that means it actually has -- it's guaranteeing itself a future in a world that may or may not be ev. that means that investors can look at bmw and say, hey, i like the fundamentals and not worry about whether it's going to be around orbit. >> all right, well, thank you. let's turn to some actionable ideas. andrew, you were saying what the smart money was doi

since the strikes began, ford shares down 7%. gm down 11%. and stellantis flat, though in anticipation of the strike, pressure on all of them. >> meantime, solar edge on pace for the worst day ever hitting the lowest level since 2020 after warning about this revenue miss. our pippa stevens has more on that move and what it might be telling us about the industry, pippa. >> that's right, carl. shares are tanking 31% after the company said q3 revenue at the midpoint will be 20% lower than prior forecasts with q4 also impacted thanks to what the company said was, quote, substantial unexpected cancellations from distributors in europe. essentially companies ramped up output to meet what had been very strong demand, but that demand has slowed, meaning there is a big excess of product. perhaps even more importantly, solar edge said gross margins for q3 will be between 20% to 25%, down from the initial 31%. the company didn't elaborate, but reading between the lines it seems they've had to cut prices. and wall street is unimpressed. goldman, b of a,

some 25,000 fellow uaw members on the picket line as they continue their historic strike against ford, gmand stellantis. mack workers say they were inspired to seek a better deal because of the historic strike against the big three. on friday, uaw president shawn fain announced a major win in talks with gm. >> gm has now agreed in writing to place their electric better manufacturing under our national master agreement. we have been told for months that this was impossible. we have been told the ev future must be erased to the bottom, and now we have called their bluff. amy: fain was wearing a t-shirt that said "the rich." he did not announce any additional strike actions for now. meanwhile, 75,000 health care workers employed by kaiser permanente returned to work saturday. more strikes could be on the horizon if no deal is reached on improvements to pay, staffing, pension plans, and other benefits. a georgia prosecutor has declined to bring charges against state troopers who fatally shot environmental activist manuel esteban terÁn, known as tortuguita, during a raid on the stop cop city p

we are going to see what happens with talks with ford, gm, and stellantis.e into this with david wells. i don't see any headlines. he is speaking right now. you're going to keep you updated. what are you expecting today? david: i think he will expand the strike or maintain it at each of the three companies. you recall the last couple of weeks he let ford off the hook initially, then he let stellantis off the hook the last time he expanded it. gm has not gotten any reprieve. there are issues at every company. the gm ceo saying he thought the union was using economic issues and dragging their feet to get some sort of framework for workers at fusion battery plants, that is workers not hired by the union yet. gm has been bargaining over cost-of-living and pensions. they don't want to add too much to their costs. stellantis has this plant where they have not allocated any work and the union is worried about that. in addition to paying other things being bargained each one has their own separate issue that is different from the other companies. i think they're pro

that's because ford has not been struck at its parts facilities. gmand that's made it very difficult for people to get the parts to repair their vehicles. and that has put a real dent in the suppliers, the people that make those parts. take a looked at these numbers. 84% of suppliers say they have had canceled orders so far in the strike. another almost 40% say they have already laid off workers. or and that is in addition to the layoffs, of course, at ford, gm and stellantis, the auto makers. that number now if you put 'em up, total 'em all up, it's about 7,000, more than 7,000 folks laid off. so this collateral damage from the strike hasn't gotten a lot of coverage and attention, but that's kind of where we are right now. and i think, you know, at some point this thing goes long enough, you start to get awe to the workers themselves to question the strategy like, wow, sounds like we got a pretty good deal, maybe we ought to take yes for an answer. but the union remaining strong, and just yesterday expanded the strike. it continues, sir. stuart: yes,

it is patterned off the deal with ford. gmreement in place. the uaw ratcheted pressure up on gm announcing a new strike at a plant in tennessee and it now puts more than half of gm's workers on strike. just over 50%. early this morning the white house unveiling an executive order on artificial intelligence requiring new safety in intelligence and research impact on the labor market. this is limited to the executive house, but likely to be td most significant ai rules for some time and some pharmacy staff from walgreens and other drug store chains are planning to walk out this week this protest of what they are calling unsafe working conditions organizers say the bulk will come from walgreens, cvs and rite aid a spokesperson for cvs says they are engaging with staff to address concerns and not seeing any unusual activity regarding unplanned pharmacy closures or pharmacist walkouts. >> that pretty much leaves -- >> your hometown pharmacy. apothecary >> yeah. topping the economic calendar this week, fed's latest interest rate dec