exxonmobil is rumoured to be in talks with tesla, ford motor, volkswagen and other auto—makers to supplyo a bloomberg report. lithium remains tiny compared to the fossil fuel business that has powered profits for exxon and for the other oil majors for the past several decades. but their interest suggests big oil thinks it may get bigger in the future. that's michelle fleury in new york. and that's it for this edition of asia business report. i'm monica miller. thanks for watching. bbc news — bringing you different stories from across the uk. they are both autistic. he has adhd as well. they are both in nappies still. adhd as well. they are both in nappies still-— nappies still. for eight years, emma has — nappies still. for eight years, emma has been _ nappies still. for eight years, emma has been campaigning | nappies still. for eight years, i emma has been campaigning to get more changing places toilets built, because poor facilities has often meant leaving home could be a problem. it leaving home could be a problem-— leaving home could be a problem. leaving home could be a roblem. , .

how about the ford motor company it is down a half 8%.d this ford motor company has appointed an apple veteran peter stern as integrated services, he's not helping the stock. more signs of slowdown in china, problems in the property sector. all the china stocks are down today. lauren: it is a chronic slowdown, it's pretty bad. what is going on yet and exporting factory driven economy transitioning to consumer economy. it's not working and they're trying to get out of covid so you can pick your poison for what you want to look at today. there's a lot of options for bad news out of china. the credit data showed a slumping demand from households last month. the housing distress really alarming a company called country garden they missed their debt payments. when you look at the housing the intersection of the construction of the property with the finance and household wealth. it all comes together. if you're housing market is crumbling the way it's set up in china that speaks volumes. keith was talking about youth unemployment there are no j

roosevelt on the radio said, if there is a national emergency, franklin roosevelt could take over ford motor company. and then henry saw the and started cooperating. so knutson arrives in the united states, arrives in washington and and the great thing he had done was doing what ticktalk is doing to your and facebook is doing to your parents right now which was to track user and purchaser ideas and, use it to make sell more cars. and this was his big breakthrough and he dramatically rose sales at general motors, but he ran into a problem when you want to retool a factory from making cars to making bombers, you have to bring in a whole new bunch of things called machine tools, which are my favorite things in the world. now, if you've ever seen that incredible award winning program, how it's you get to see machine tools action as it grinds this piece of metal and shapes this piece of metal and does all this stuff to make all the elements making guns, yo, everything in the world just made it essentially the same way. and because you have to redo a factory with machine tools first before you can

and there's also no new initiatives for ford motor skills ledgebrook party to come beloved boy and much them. toys. campbells cousin park blowing a concrete which doesn't include dealer but the most. the most news, camille lumbee, because it does have perception. not only thought a pleasure while in the territory of capitalism, but also computer which says could go mind. yeah, he's boys with possible. gotcha. what is that of water that i what you see lucy, me in for that was do you have the if you could get them? i've got a, i know, but i don't know if it's a single did you meet with the photo nimble? just wanted to let you all set to you and see if we do it in the soonest. a couple of days nicole, enough, would you tell me to go to uh i see. okay. even below. oh, we see pretty well to get what the oh, i mean you should start is a little it sounds really crazy, really belongs to me. ask you what a at the we did send this to prove new. show me. yeah. me. it's classic doria stuff or privacy class, while you're on the floor pretty easily over. i see it so it is out. so you subjects know wh

instead of the new employee for this with us, the means stores and there's also no, you just extra ford motor skills, extra political, beloved bullying, much them to me, a beloved cousin, but blowing a concrete which doesn't include dealer but the most the most needs camille, one be because it does have perception, not all the people who are in the territory of competition but also computer which not this could get a minute. he's pause with muffled. gotcha. what is it? a water that i what you see lose, you mean for that was do you have the, if you could give them an escalation? i know, but i don't know if it's a single did you meet with our products, new, clear to what you owe se, and see a couple of the origin. some of the i see you cry. he lived a lot of we see pretty well to get what the old, i mean you should start is to really, really belong to portland. you me ask you what a at the we did send this to prove an issue and we hear me. it's classic kentoria, a stuff for privacy close while you're on split. uh, pretty easily over. i see it's if it is out. so it's up to, you know, what, what

cool lot, but just showing the money in the book that you know, hold on, let me know you got the ford motor and ask you some history. awesome. awesome. and that was back on my list. i pretty soon best bet i make all that i have to go in and we're gonna come up with the reason i'm that i'm in the library and i figured they've done with b print up to you. i've been with us on the phone, what google shifts, you have to renew the money don't. so i was, you know, mid thank you m, when you're in the room, you will get onto to ship us. like i said, i am pacific left on the the known in vietnam, american war, the vietnam war. last, it's almost 2 decades and dragged in numerous countries. not any time between now and then you don't see it now. wow. it's all on empty. hundreds of thousands of american troops who was sent to the country to back the south vietnamese on me. i bought that, not many american soldiers, limited resistors, most of us like the down entire villages and spread dangerous chemicals. and even lee by all right, did the americans ever fully acknowledge what they did on the vietnames

looking at ford motor company down 21/4%. >> sales rose 5.9% last year. it is up 8%. but evs are struggling. the f 150 lightning, it dropped 28% this july from last july. stuart: i told you last week, i bought an f150, gasoline powered, and electric. lauren: did you consider the ev version? you said no. i don't want to plug in a charger where i live. actually listen sometimes. stuart: amazon, nonprime members delivered in 12 cities. lauren: that is a big deal. amazon is trying to branch out to bring in more revenue. they will charge you so you don't have to pay that, you pay 795. they are revamping their grocery strategy. stuart: they are down across the board, stocks down across the board. elf beauty. lauren: up they go, 17% at a record high, this was a strong quarter, they raised their outlook for the year, sales grew 76%. this is drugstore beauty brand, lot of tiktok beauty trends, makeup is a personal luxury. >> this is a top story, donald trump indicted on four new charges, this is jack smith's investigation, and do you think trump could be elected? >> i don't kn

autorizÓ la convocatoria de una huelga de no llegarse a un acuerdo en las negociaciones con ford, general motors maity: se llama a una revisiÓn que cubre ciertos vehÍculos hyundai y elantra fabricados del 2021 2023. hyundai dice que enviarÁ cartas de notificaciÓn antes del 17 de octubre. leÓn: cuales son los mejores y peores estados para conducir? nebraska es el estado mÁs favorable para los conductores, con los costos mÁs bajos relacionados con los vehÍculos en todo el paÍs en lo que se refiere a precio de gasolina y las famosas primas del seguro anualmente. las carreteras menos congestionadas de los estados unidos estÁn en dakota del norte, estado que ocupa el segundo lugar de este ranking. new jersey es el peor estado para conducir, con la mayor congestiÓn vial de estados unidos y la segunda peor calidad de las carreteras. california no se queda atrÁs, ocupa el segundo peor lugar en esta clasificaciÓn. es tambiÉn el mÁs caro para los conductores. maity: en mÉxico hace exactamente 12 aÑos un comando armado provocÓ el terror en monterrey, y es que llegaron a la exportaciÓn casino donde cientos

the big car companies like ford motor company losing $4 billion on electric vehicles.dra: they were told to go big and prepare for the demand that never came about. >> general motors, mary berra bet the entire company and they have not worked out. you know what you'll get, the uaw leadership very far left will wind up endorsing biden, not on these issues, but probably because of social woke issues but the rank and file will vote republican. and the rank and file love trump. and the rank and file like gasoline-powered cars. rank and file likes oil and natural gas and coal throughout the economy. so that's going to be -- you'll see that split. we saw a lot of it in 2016, some of it in 2020, you are going to see even more in 24. >> sandra: you heard it here first. here is the president in his own words pledging to be the most pro union president ever. >> you've heard me many times say i'm going to be the most pro union president. >> campaigned to restore the backbone the middle class and unions. >> i'm proud to say the word, proud to be the most pro union president in ame

union leaders authorization to strike during ongoing contract negotiations with general motors, ford motors and stellantis if necessary strikes could take various forms, including a national strike. we're all workers under the contract ceased working or targeted work stoppages at certain plants over local contract issues. a 40 day strike against gm during the last round of negotiations in 2019 led to a production loss of 300,000 vehicles. the current contract expires september 14th. and happening tomorrow, we could see the largest strike of health care workers in u.s. history. kaiser permanente. workers across the nation are preparing for a strike vote on saturday. negotiations have been going on for months. the unions representing 85,000 workers have until september 16th to vote after that, a strike could begin on october. 1st, the workers are fighting for higher wages and what they say is serious under staffing. kaiser told us it is fully committed to reaching an agreement with the unions before the contract expires on september. 30th. now striking workers in california could soon get a f

union leaders authorization to strike during ongoing contract negotiations with general motors, ford motors and stellantis if necessary strikes could take various forms, including a national strike. we're all workers under the contract cease working or targeted work stoppages at certain plants over a local contract issues. a 40 day strike against gm during the last round of negotiations in 2019 led to a production loss of 300,000 vehicles. the current contract expires september 14th. and striking workers in california could soon get a financial lift if state lawmakers get their way measure making its way through the senate would allow workers on the picket lines to receive unemployment benefits that would apply to the writers, actors and hotel workers who have been on strike in california. this would help them because workers on strike go without pay and have to dig into their savings in order to pay for their bills. as of today, the states of new york and new jersey allow striking workers to collect unemployment benefits. the city of san francisco says it will be updating its emergency sir

today the union overwhelmingly authorizing a strike against the big three, ford, general motors, and stellantis a strike isn't guaranteed, but now the union has the green light to strike if needed. demands include a nearly 50% pay bump, traditional pensions, and the right to strike over plant closures >> we have went backwards in wages, backwards in conditions, and so they're signaling that they're tired of it. >> reporter: negotiations coming as the industry moves toward an electric future >> for the big three, they need those profits in order to fund the development of electric vehicles it takes fewer people to build an electric vehicle than it does an internal combustion engine vehicle >> reporter: when uaw's contracts expire mid-september, roughly 150,000 workers could strike nationwide slamming the brakes on production not ideal if you're looking for a new car. >> our supply is going to last for a couple of months. >> reporter: in the chicago suburbs, car dealer john crane says if a potential strike lasts longer than that -- >> what could you potentially not be able to find >> n

taking taxes out of the working class and telling them that you're going to hand that money over to ford motor company so they can build a plant and they can make billions of dollars. this is not how the country's meant to work. >> reporter: michigan's senate race could be one of the most competitive in the country and help determine who controls congress after 2024. frank? >> so emily, you're right in central michigan a lot of people don't know this, i used to live in michigan it's like two different sides of the state, if you're on thewes side or the -- >> same here that's such a coincidence. >> yes, small world, a lot of different divergent politics from where detroit is from the other side where grand rapids is two different sides. will any of this move the needle statewide in 2024? >> reporter: i mean, it's a great question if you look around, one of the things that really struck me is i've spoke with folks in marshall, is that there's a lot of feelings about this development coming yes, there's an acknowledgement that there is a need for jobs, there's a need for economic development, but

and general motors here and ford is outperformed year-to-date. ot to tell me what's going on between the two. what is ford doing right that gm needs to come back along to because gm put out pretty interesting vehicles as well. >> ford has a 5% yield and gm has come down relative to ford in the last few weeks. they move in tandem and stocks, the reasonable i'm bullish and the 40 years i followed the stock, this is the best the command drivers looked in that 40 year time period over the next five years and not just in the united states but also in europe. in addition balance sheets in great shape and cost in great shape and look at basic. you take a look at product trend in the marketplace and whether it's cards and they're going be among the leaders and they're in great shape and the is to bees as good as they get as far as opportunity to buy them. liz: well, nobody wants a strike. i mean, it's never good certainly for the people, for the workers and companies so we'll watch it. michael thanks. thank you very much. >> any time. and for the economy,

the union represents 150,000 workers at ford, general motors and stellantis >>> hurricane hilary is bringing powerful winds and rain. angie lassman has her eye on this storm >> we are going to be watching this system over the next couple days, impacting first the baja, california peninsula and eventually parts of the southwestern united states a healthy looking hurricane. we've seen the rapid intensification as it works through warm waters. we'r waters moving northwest at 14 miles per hour it's going to start to take a more northerly track here in the short term it will encounter colder waters that are sitting just offshore of the western portions of the baja, california peninsula where temperatures are it makes landfall that's going to happen likely sunday later in the day. we'll see it potentially be a tropical storm at that point and bring heavy rain to parts of the southwest. this is the real threat. it's not so much the winds, we could see breezy conditions and gusty conditions, but it's going to be the flooding concern that r detroit with full sunshine washington, d.c. heads to the mid

united auto workers union's contracts with ford, general motors and others expires september 14th. >> preparations are underway across southern california right now to brace for a category 4 tropical storm known as hurricane hilary. the city of san diego's emergency operation center is open in preparation. the center's going to be tracking the storm and monitoring its progress over the next couple of days. communities around southern california are bracing for the possibility of record rainfall and potentially dangerous flooding emergency response crews say that they're going to be prepping before the storm and when it hit. >> soldiers will be doing a lot of important work throughout the storm. >> they always have. and this is something that we have a lot of experience. long beach has been vulnerable events like this. in the past, we had hurricane norbert hurricane debris. we have a locally or flooding from the storm cover. these firms have been successful in mitigating and managing the risks of the threat with homes that facing our coastline. so the point is, is that we're continue t

heard of, which has just landed on the stock market and already has a higher valuation than ford and general motorsed in vietnam and its shares debuted on the new york— based tech—focused exchange — the nasdaq — on tuesday. then, they rose in value by more than 200% on the same day, meaning that vinfast is now worth $85 billion. our asia business reporter katie silver has more. it perhaps may be a company that you've never heard of but its shares rose by 255%. that $85 billion figure that you mentioned, that means it's now worth more than almost double that of general motors. but really one of the real winners of yesterday was its founder and chairman, he made $40 billion in a single day on this listing. and in fact, the regulatory findings, according to those, it said that he controlled about 99% of the shares at the start of the day. we did see very slim trades, only about $185 million in trade, and therefore you can see the large swings that i mentioned. 255% surge. what it does also do is it shows the excitement that continues to exist around electric vehicles, and it does add fuel to rumours t

have heard of, which has made its stock market debut and already has a higher valuation than ford and general motorsed in vietnam. it launched on the nasdaq yesterday and shares skyrocketed. the company is now valued at $85 billion, even though it's never made a profit and it's only made 11,000 cars in the first half of this year, compared with 900,000 for tesla. david bailey is professor of business economics at the birmingham business school. the university of birmingham. thank you very much for being with us today. how can a car—maker most people have never heard of be worth more than its oldest and most established rivals? the likes of ford, gm, those that are established rivals? i the likes of ford, gm, those that are established rivals?— the likes of ford, gm, those that are established rivals? i had heard of it and even _ are established rivals? i had heard of it and even i _ are established rivals? i had heard of it and even i am _ are established rivals? i had heard of it and even i am surprised, - are established rivals? i had heard of it and even i am surprised, but| are established rival

that could bring a work stoppage at general motors, ford and so launches formally chrysler. they are demanding a 46% pay raise, pensions and a 32 hour work week, it could leave a big dent in automakers bottom lines. during last negotiations a 40 day strike cost three and half billion dollars. >> india's lunar rover is walking the moon searching for a life. it's that's down this week marking the first time in the country has been to the moon's south pole. it will be there for 14 days collecting data. one goal is to determine if there is oxygen and hydrogen on the moon which could help us learn more about the possibility of life. it also could tell us if it holds water and precious elements. >> back here on earth, the 49ers are getting ready for their final tuneup. alive look at the sun signing down on levi station stadium. you know, you've got it pretty good. streaming this much stuff was never this easy. yes! nice eye thingies. they're collagen boosters. switch to gig internet on the xfinity 10g network made for streaming for just $25 a month when you add xfinity mobile. and

now that the view on tuesday, by end of trading, the company was worth more than general motors and ford. however, only a relatively small number of shares were traded. so investors expect shop price most movements rather now besides the currency collapse, vices war on ukraine has also had many other unintended consequences for the country's economy. now that includes the tourism industry on the peninsula of crimea, which was unexpired russia in 2014. with the current war businesses they are losing out. crimea was supposed to be russians, crown jewel, according to the clinton, not just important militarily, but for trade and tourism. but it's sandy beaches in inclement weather, but the jewel has lost its shine. tourists all staying away. this is from the mission of levels where you could also fish. this is a standard room for 2 adults and 2 children. there's a small kitchen here as it is an apartment and a bathroom, but as you can see, unfortunately were empty. there are no guests, no one wants to stay here. the usual flood of tourists just isn't coming. in 2021 holidays to cry me and ma

united auto workers union members voted to authorize strike and contract negotiations with ford, general motorshey fail the union is asking for a 40% pay hike, pensions for new hires, post retirement healthcare benefits after uaw union president says workers are fed up, deadline for an agreement is september 14. that is a wrap on your money watch report. >>> when you tune in, you can take something to the bank. this is your show and it is our mission to connect communities. >> we were with you this weekend all over the bay area. >> i got to see some of you pickers out there. you know what that means. antique lovers at this estate sale. barbie looming large. i also saw wacky things too. this was somebody's teacher and somebody's dog house but it's always fun. that's how i feel. hugging a pumpkin taking a nap. so much fun to see. by the way, somebody didn't use their folgers. good morning to you. it's the largest pride festival in the south bay. this year's theme is "live out loud." >> i have worn out a lot of shoes getting where we are. i love watching a queer couple holding hands. i see them at

overwhelming 97% of united auto members union members voted to authorize strike if negotiations with ford, general motors. this is after the uaw union president says workers are fed up. the deadline is september 14. that is a wrap on your money watch report. when you tune in, you can take something to the bank. this is your show and our mission is to connect communities. >> we were with you this weekend all over the bay area. >> it's fascinating to see a negative turn to a positive. a group planned something called doom loop tour to draw attention to the open air drug markets. but the tour ended up canceled. do you know what replaced it? 50 of you on a walking tour of the tenderloin with the goal of providing an alternative view of the neighborhood. good morning. some of the down side was in plain view but mr. seymore pointed out positive things. >> when we heard this tour being advertised, we thought let's show them how to do it tenderloin style. we don't engage but we wanted to be sure that the wonderful things are also highlighted. >> the tour ended at the code tenderloin career center which is full s

employeesat ford, general motors and stellantis could bring the country to a halt costing $6 billion next month and united auto workers president saying our union president is clearly fed up with living paycheck to paycheck while the corporate elite and billionaire class continue to make out like ba bandits. it's been a hard week for pete saying good-bye to his favorite haircut and the man bun and mullet are now history. history. pete: it's over. the mullet is gone. it was a summer mullet of glory, a personal passion, but i think it was the man bun that pushed people over the edge. rest in peace, mullet. rachel: was this like a viewer response thing? is that what happened in will: there was my comment on instagram. the end of an error -- i mean era. rachel: that was really good. this was done by viewer -- pete: i think the viewer feedback was keep it. i got a lot of great, strong feedback. rachel: you sure? pete: it was don't cut the glory. will: really? i wasn't getting that same story. rachel: i got a lot of comments on my twitter about it and never positive. will: me too. it was l

what are we doing working wednesday and thursday why can't we be like ford motor?> well, they present to gm today. >> it must stop. honestly this is not capitalism it's not capitalism. it's some other form -- i took seven courses on communism at harvard because i was in a particularly bad period at harvard. there should be an eighth course sean fain and what he had to do with engels. it was marx and engel and fain >>> when we come back, we'll talk earnings and chips and a.i. with amd's ceo, lisa su. meantime, there is material weakness in the premarket, although we've gone 47 trading days without a 1% decline on the s&p. ♪ old school wisdom, with a passion for what's possible. that's what you get from the morgan stanley client experience. you get listening more than talking, and a personalized plan built on insights and innovative technology. you get grit, vision, and the creativity to guide you through a changing world. ♪ what if buildings could tell you how they could be more efficient? i'm listening. well, with ibm, you can use software to help you connect and a

that's ford, general motors and stellantis workers held a practice pickett on wednesday to warn the companyhat they mean business news nation's emily finn has more on their demands. >> we're already getting results back. and several locals are 98%. it's the members are they're fed up. they're ready for change groups of united auto workers, union members gathered in the parking lot outside of stellantis is detroit assembly complex as 150,000 union workers throughout the country concluded voting to authorize a strike against the big 3 automakers. they wore red for solidarity and marched around the block chanting and holding signs supporting their negotiations with the big 3 ford, gm and stellantis have been tense this year. and if they are unable to reach an agreement with the u a w that could cause more than 5 billion dollars in economic losses. we spoke with some of the workers at the event to stress the importance of supporting each other as these negotiations continue. we're all this together. >> across the not just we're not just fighting for us. we're fighting for all working people. yo

they're going to decide next week if they want to join the picket lines, the u a w on track with ford general motorsand some other carmakers expires on september 14th. and illegal medical lab in fresno county could be linked to a nationwide recall of pregnancy tests last week, investigators found dangerous chemicals along with viles of human blood and samples of covid and malaria and pregnancy test kits and they were all in an abandoned warehouse in really a small town southeast of fresno. the fda has now issued a recall for those pregnancy test because they can't guarantee that there effective an accurate you can find a full list of the recalled products at the fda dot gov website. it's 10, 50 and a developing story out of hawaii. officials trying to protect residents from predatory land developers who are offering easy money for the scorched plots of lands are on maui. more than 3,000 buildings were damaged or destroyed. news nation's tom dempsey has details. >> the deadliest wildfires in the united states and over century bring scenes of devastation and a rising death toll. but over a week after

the mass-market end with general motors and ford is obviously a big opportunity, we will get there eventuallyut have no announcements. david: you have one of the cars? andrew: i do. i was an early buyer at full price. i thought it was important for the team. that i demonstrate my support. i will never forget the amazing drive i had and it. i have it down in florida were my residence is. i drove it, drove into palm beach, drove around there. every time i stopped, i had people looking at me. i knew it was not me. it was the car. i parked it, i will kid you not, it was like a mob scene around me. it was the second car in florida, had not been seen, had it valet parked at a hotel where i was having dinner. the instrument wanted to compete with the other gentlemen to valet park. i said maybe i should park it myself. it is an attractive car and drives well. david: let's talk about the roads on which the cars drive. you have advised the president of united states on infrastructure, manufacturing, on infrastructure, you have been involved with legislation passed not so long ago. why is the united sta

the u a w contract with ford, general motors and others is set to expire. september 14th.ws next. parents across the u.s. are turning a new form of education for their kids. >> it's a trend called micro schooling, even though that is. babackck i in n ththe e , snsneaeakeker r drdropopst getting online to wait in line. now with xfinity mobile... ...we get the fastest mobile service and can get the freshest kicks asap. i got this. get the best price for 2 lines of unlimited when you switch to xfinity mobile for $30 a line per month. nice job, little sis! they grow up so fast... i'm a fan. from xfinity. >> 6. not talk about the weather and what? it? i was texting tonight. it's never i-88 in my neighborhood by the water which is unusual. i checked same time you sent that, john. it was 90 to move out where i not that big of a difference between the bay shoreline in the in the valley. that is definitely not every day. you know, see these 2 spots light it up so closely. and it was a warm one in the city yesterday to ida is breaking a sweat before estoutside. so there was a mixtur

and they're decide next week whether to join the picket lines, the u a w contract with ford, general motorsrs expires on september 14th. >> all right. coming up on the kron, 4 morning news in our next hour. san francisco restaurant with ties to maui is doing its part to help the island recover from those deadly wildfires will take a look. >> it's 8.55. in national news. lawyers for former president trump asked a federal judge to put off a trial in washington, d.c., until 2026. the trial is for charges that the former president plotted to overturn the results of the 2020 election. the suggested date is april of 2026. and that's counter to the justice department's recommendation that the trial should be generous. second of 2024 special counsel jack smith's team is expected to oppose trump's request. >> deadline is approaching to file a settlement involving facebook and its parent company. meta. the multi-million dollar class action settlement stems from a lawsuit alleging that facebook made users data available to 3rd parties without everybody's consent. anyone who used facebook between may o

uaw's big members, ford, general motors, and stellantis authorized a strike, and thousands of autoworkersit the picket lines soon. they want higher wages, cost of living allowances, better benefits and more paid time off, right. >>> all the things, but they're demanding an offer by september 14th. with no deal, we could see car production lines come to a halt which, of course, could drive up car prices. gio? >> gio: absolutely. morgan, all right, and as you said, coming up, how zillow is trying to make home buying more affordable to some with a 1% down payment. all right, will? >> will: all right, gio. it's been a rocky start to the school year in kentucky. two school districts forced to cancel in-person classes after outbreaks of illnesses. abc's reena roy is here with more on what's happening and how they're handling it. reena, good morning. >> reporter: will, good morning to you. yeah, that's right. we are just a couple of weeks into the school year in most places, and some haven't even started yet, and already two districts in kentucky have canceled classes, as you said, moving to vir

about 150,000 employees and joining us now for more on the negotiations, mark fields, a former ford motorecause he has been the man in the middle of negotiations just like this. what do you think the state of play is and what do you think will happen? >> the state of play is, first off, you have a very different set of negotiations in terms of the environment. you have a new uaw leadership that was transparently or directly elected by the rank and file, and you have a leader that wants to make a mark on the detroit three. you also have a transition, a once in a lifetime transition that will be tricky for the industry you have the uaw who has made some -- let's just say, realistic demands, and the leader calls them audaciou and judicious. there's some interesting things in there, some wacky things in there, but they're starting the negotiations now the contract is up on september 14th and listen, at the end of the day, there's a lot of things the uaw is asking for, but i think the union will focus on getting wage increases, they'll focus on some kind of job cutters, and also some kind of t

labor negotiations are impacting general motors, ford, think about chrysler, dodge and american-made hear the estimate will take the cost of wages from $64 an hour over the $150 an hour. here's some insight here. tom, how are labor negotiations going to impact the price of the car? >> it's going to increase the price of a new car seven to $10000 and not only are they looking to get wage increases the cost of wage increased built-in already. what they're looking for is cutting the workweek 32 hours if the cut production any further promote the car industry is in trouble, there's no production today, we are still trying to recover from the tip crisis. >> the unions say the car companies are making money pointing to recent earnings coming out. ford in particular did pretty well and they said they had 1.9 billion in income in the recent quarter and unions say our workers should get some, or to make about? >> there the losing their shirt on electric vehicle market. losing billions trying to get up for electric vehicle market which consumers are not buying into so we can't move the cars, n

the mass-market end, when general motors and ford are pointing themselves, that is a big opportunity.will eventually get there but we have made no announcements. david: do you have one of these cars? andrew: i do. i was an early buyer at full price. i thought it was important i demonstrate my support. i will never forget the amazing drive i had. i have it down in florida where my residence is. i drove to palm beach and drove around and every time i stopped, i had people looking at me. i knew it wasn't me. it was clearly the car. i parked it and i kid you not, it was like a mob scene. i think it was the second car in florida. i valet parked it at this hotel where i was having dinner and the gentleman wanted to compete with the other gentlemen to valet park. can i drive it? i said, maybe i should park it myself. it is an attractive car and it really drives supremely well. david: let's talk about the roads on which they drive. you have been a advisor on infrastructure and manufacturing. you were involved in the legislation passed not long ago. why is the united states infrastructure so m

ford and general motors shares are plummeting pretty dramatically. ford had an issue with a cyber breach of some sort, you know, basically what they're saying is that they have a software patch that they are readying because they found a vulnerability, and cars are so technologically advanced at this moment. but when you look at -- yeah, gm is right now down about 5.5%, ford is also down. you know, when you rook at -- look at what happens with gasoline but also with car leases, car leases were a big component of the consumer price index this time around, rising more than 10%. so what does that mean for the auto industry? >> well, certainly it's bad with news. and part of the reason why is interest rates are 525 basis points higher, and so that means that financing is much more expensive, and that's going to show up certainly in the inflation gauges. so a combination of people shifting their demand away from goods and towards services and also higher interest rates means that's not a pretty story for anyone who's producing a car and selling it. liz: ok

ev names pushing a little higher, ford and general motors are of. tesla is flat. news that the u.s. to offer $12 billion of public money to retrofit plants that make combustion engine vehicles and transition them to the plants that make electric vehicle offerings. tesla is not go to benefit from that because it does not need to convert existing u.s. facilities. it is a story we will continue to track. those funds coming from the department of energy. in terms of what is driving is higher, it is the mega caps that are doing well. amazon is pushing higher. broadcom reports earnings after the bell, pushing the philadelphia semiconductor index higher to the outside. apple lost earlier gains in the session and meat -- meta is one of the drivers on the social media side. let's turn back to the data policy changes and x, formerly known as twitter. planning to collect biometric data, job and school history. i want to point out that the company told me this morning this only applies to premium users who pay for a x subscription. joining us now, adam kovacevich. your reaction to this policy c

let's bring in mark fields, the former ford motor company president and ceo.gher probability this go around in contract talks than in the past for the things that phil mentioned. you got a couple of things going on here. you got a newly reconstituted union that was still recovering from corruption charges. you have a new leader who has been using very bellicose language, calling the auto theautomakers the true enemy of the uaw. he's setting expectations very high for his union members and you have the automakers going through this once in a century changeover to propulsion systems which have higher costs and lower margins right now. it's a set up for a very contentious set of discussions. >> sean fain tactics are different as well, the uaw, you know this better than anybody, would traditionally not lay out the hand on the table and say ante up here. they're telling the auto makers, the big three, what we want, come meet us. this is different, isn't it in. >> it's very different. and the new leader, he's never led an association before. he's basically led plant