when did we find out that gm ultimately and the uaw seemed to be finally finding a path forward? david: fairly early this morning. they had talks yesterday after the union had briefed everybody on the four to deal, which is what set the pattern for the deal with stellantis. everyone is being hush-hush about it right now. only know is that they had to agree to a 25% raise, cost of living allowances for workers, better pay and compensation for temporary workers, a big issue for the union. those are big deals. we will probably find out more detail to see if the gm contract varies much from the other to the next few days. matt: we don't know all of the details, but we do know that this is a pretty rich deal, david. it strikes me that if they want to add any new capacity, they are likely to do it in mexico and canada. david: i think that is a very good possibility that the union has to look at. they have pushed up costs a lot. to be fair to the union, this is making up for raises that the workers did not get the last few years. a lot of workers in other sectors did get raises. there h

gm pushed back because they have younger workers in canada. this contract was going to cost them more than it was costing ford. but the strike lasted less than a day. they have been able to bridge the gap and the plants are going to keep running. there was additional pressure on gm because they have this widening strike in the united states. they could not be double struck. they have important plants in ontario for silverado pickup trucks as well as large engines coming out of ontario that go into gm's big suv's. matt: well this agreement in canada and the one they made with ford help the uaw come to a better agreement with the same companies in the united states? keith: hard to tell it this point. gm did have a breakthrough, as you recall, last friday with the uaw. they agreed to have the future battery plants come under the master contract agreement. that is big. something the uaw is going after at 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 ca

saturday 4000 workers walked off the job at gm's largest player north america, spring hill tennessee, gm is the last holdout to get on the show today trouble and ev land, consumers are not buying china is taking over and the speculation that detroit will need a government bailout if electric vehicles keep fading. congressman it pramila jayapal goes on as a racist state, racist, apartheid and colonize to bring people of color to the anti-semitic movement. which is gathering steam in the united states and elsewhere. a mob took over the airport at a city in dagestan republic within russia searching for jewish passengers on a flight from tel aviv, shocking. monday october 30, 2023, "varney & company" is about to begin. ♪. stuart: the very latest from israel. benjamin netanyahu as second stage of the war against hamas. >> israel expanded their assault into the northern gaza strip it's estimated israel has advanced 3 kilometers into gaza striking 600 targets including key hamas positions, israel using bunker buster bombs to destroy hamas network of tunnels were 239 hostages are likely being

gm reports tuesday, giving wall street the first look at strikes' impact. ford follows on thursday. 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 same size in terms of population as a london borough of croydon, which is just one of 32 london boroughs. but they do seem to be packing a punch. the fact that we're talking about this here, it does raise attention to notjust the pay inequalities and perhaps the un

gm said it was and notjust a 'ob. gm said it was pleased — and notjust ajob.eased with _ and notjust ajob. gm said it was pleased with the - and notjust a job. gm said it. was pleased with the outcome with the ceo adding the deal would allow it to continue to invest in our future and provide good jobs in the united states. the agreements, which still need to be ratified by rank and members come included 25% wage increase over four and a half years, as well as other benefits. forthe a half years, as well as other benefits. for the uaw, this is a big win. historically the union has negotiated new contracts with one car—maker at the time. by taking on all three at once, uaw president successfully pitted them against each other. for the ast against each other. for the past several _ against each other. for the past several weeks, - against each other. for the i past several weeks, analysts and pundits were crying the union was going too far, that we were demanding too much. we didn't listen to them and we never let up. the result is one of the most stunning contra

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

not so much for gm. some way it adds fuel to the fire.rm out there. adds fuel to the fire the uaw is building, making the case gm is making a lot of money so they should too. they have pictures of the arlington plant a short time after the workers walked off. as you point out they make the big suvs down there in arlington like the ones you mentioned and those suvs cost big dollars and make big profits for the company. mary barra on the conference call says i agree we make a lot of money but i will not do something that will bankrupt this company down the road. here is how she put it on the conference call. >> the current offer is the most significant ever proposed to the uaw accepting unsustainably high costs put our future and gm team members at risk is simply something i will not do. >> reporter: if you look at the numbers of workers on strike with that additional 5000 it is up to 45,000. that is about a third of the uaw overall national membership. ford about 16,000 plus, gm, stellantis each 14,000 workers on strike. as for losses gm s

says they are losing $2 million a week and that is just gm., the estimate is $4 billion as far as suppliers, coaching $3 billion in losses, dealers, almost $2 billion and the wages lost by autoworkers on strike, half a billion dollars. now a look at the numbers, where we are with additional $5 billion on strike today, it goes to 45,000 workers on strike around the country at ford, stellantis, and gm. yesterday was a big headline too. another surprise strike yesterday with pictures of shawn fain in the sterling heights assembly plant, they make the ram 1500 truck, picket signs, shaking hands, they announced the big strike, a big plan for them and now all the big vehicles that make a lot of money are on strike somewhere for ford, gm, and stellantis, energized 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.

this is 20% of gm's u.s. production.st most profitable plant they have in the united states. not surprisingly, this is news that does not fit well as they come off of an earnings report where they said, look, we're already going to take an $800 million hit, $200 million a week going forward and that was before the announcement came out. they pulled back their guidance, completely for the year, they don't know how much the cost will be from this strike. here is ceo mary barra during the conference call talking about the state of negotiations. >> current offer is the most significant that gm has ever proposed to the uaw. they demanded a record contract and that's what we offered for weeks now. a historic contract with record wages that have increases that are substantial, record job security, and world class healthcare. as an offer that rewards our team members but does not put the company and their jobs at risk. accepting unsustainably high costs is something i will not do. >> we will get ford results after the bell on th

coming up, gm says it is nearing a deal with the uaw. tesla has its worst week of the year on wall street. this is bloomberg. ♪ (sfx: stone wheel crafting) ♪ the biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. it still does. what can you do with spy? ♪ jon: this is bloomberg markets. i am jon erlichman with matt miller. time for our stock of the hour segment. you were talking about auto names like gm as we await more details on what uaw will think. it is such a busy week for auto related stocks. we have seen tesla shareholders witnessing their worst week of the year. we have concerns about the margins and now elon musk with a somewhat conservative outlook we shared. and then you have china continuing curve graphite exports which is a key component with electric vehicle batteries to the u.s. china tensions are front and center. so that is opening the front door to the ev market. that is what is happening in detroit. matt: the most interesting thing so far this week h

and stellantis speaking of gm and stellantis, those negotiations thwith those automakers continue. typically, frank, when you see one approved, one gets done and we are still a way away from the rank-and-file approval then in a week or two, you see a similar agreement with another automaker and then a couple more weeks and a third agreement with the third of the big three we will see if that holds true frank. >> a lot of people in the detroit area are breathing a sigh of relief to see the tentative deal we are watching the ford stock you mentioned the slide since the strike started this morning, it is up 1.5%. investors are enthusiastic about the possibility of the deal going all the way through. how long before the workers get back into the plants >> reporter: very soon they don't give an exact date. they didn't give an exact date the uaw as opposed to the past, where in the past they will wait until the contract is ratified, but they are telling the members to go back on the job while they learn about the contract and vote at the local level and then the overall rank-and-file tak

says. 2 stock gm up in premarket after being down several days in a row, they said they have strongrage transaction prices did pull full year guidance say loving about 200 million dollars a week as a result of the strike, of course, just gm what about ford an stellantis? altogether four billion loss thus car according to one estimate splierdz have lost almost three billion dealers and customers about almost two billion, wages lost by strikes about half a billion dollars. layoffs continue to mount as a result of the strike we are at 7,000 if you total all of them ford gm stellantis together 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

gm is withdrawing guide aance f 2023.is withdrawing the production guidance of 400,000 evs produced by the middle of 2024. this speaks to the higher costs with the uncertainty with the ev market as sales slowdown or the rate of growth is not as great. it is delaying the production ramp at the michigan plant which we talked about. gm expects to save $1.5 billion by slowing down the ramp up in ev production. the headline here is they are withdrawing guidance for 2023 because of the uaw strike. we'll discuss this with gm ceo paul jacobson in the next hour and including where they are on the next offer. a number of things and we heard from the uaw and heard from them on friday. the arlington plant is on notice for potential strike. we'll talk with paul about that next hour. >> okay. phil, thank you for that. we'll keep our eyes on the numbers and talk to you in a little bit. >>> in the meantime, 3m out with results. stronger than expected earnings per share of $2.68 against 2.34% the street was expecting. they are raising gui

need i say more at fort gm salantis. 92% the profits have increased. we took a range of 20, the years 2013 to 2022, 250 billion dollars. okay, so that shows the amount of money that they are making. that's quite a lot. all right, uh, let's take a look now at the us wage growth. that is very important in terms of what we have for you. the top 1%, as you can see over here, look how much. they've had on their wages, 145%. that's a lot when you compare it to the bottom 90% 90%, which is had 16% only for the wage growth, the years uh that we looked at 1979 through the year 2022. what do we have coming up next? co salaries, all right, that's the big one, that's one of the things that uh is up for discussion in a major way, the big three ceo salaries, you have fort ceo jim farley, 21 million per year, stalanta seal carlos stavares 25 million, and the one that comes in a number one, mary bara 29 million, the gm a ceo. all right, now this is what hurts for the workers. the cofits were made $1.7 millions off each worker, which came into the picture in terms of t

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

well maybe not, we have one more. go here, too many numbers for you, maybe gm profits quarterly, this is as of the latest, the latest quarter, $3.2 billion they made, okay, and they still want uh, won't uh negotiate, the auto losses, however, 3.95 billion, you're looking at over a month, a month and maybe a couple weeks now, that's how much money has been lost because of the strike, but that figure over there, that's a big figure there, i know, enough numbers, let's go to our guest. and see what they think about all of this. uh, let's bring back daryl mitchell, he's a retired autoworker, uh, he uh worked at chrysler motors and also a former union representative who rejoins us. darel mil, welcome back economic divide. uh, i'd like to find out from you, why it is that it's not just autoworkers that are striking, we're looking at other sectors that have uh joined now these strikes. it seems like the autoworkers kind of set it off, i think it's because of the large numbers that are involved and how major um piece of the economy the us in the us it plays um and this all points to stagnant

gm, 3m among the names crossing the tape.icrosoft and alphabet tonight. >> plus we're also watching jamie dimon. he called out central banks saying they've been, quote, 100% dead wrong. we're keeping an eye on chip stocks, nvidia and amd planning to launch an armed pc chip in 2025. >>> let's begin with the markets and the industrial earnings parade. jim, i was trying to think which one of these would interest you the most. i'm guessing ge. >> and it is. what happens is larry culp finished the wind and let's say power business much better than i thought. therefore, the spinoff will look good. there's always been concern that that business would be a dud. there was never, ever going to be a growth business. instead, it seems like it will be the esg business of choice for people. david, anyone who thought let's say the long on money short on time travel situation is over and thinks there is a great aircraft demand, wrong. ge and rtx proved that the demand for planes is probably as great a secular story out there. >> free cash fl

than half of gm's workers on strike.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 decision and labor department jobs report really hot last time steve liesman is joining us on that and other data new from this morning no waiting we get a repeat on friday, right? i guess there is >> not th

the latest on the uaw's deal with gm, and the electric slide in tesla buckle up.re driving straight into those trades ahead you're watching "fast money," live from the nasdaq market site in times square. we're back right after this. travis, did you know you can get this season's covid-19 shot when you get your flu shot? huh. two things at once. two things at once! ♪ two things at once. i'll have the... ...two things at once, please. now back to two things at once. ♪ two things at once. that's not two things at once. moooom! travis? ask about getting this season's covid-19 shot when getting your flu shot. >>> welcome back to "fast money. roller coaster ride for sofi today. shares rallying nearly 15% this morning, but then retreated to close the day just 1% higher the fintech company raised its full-year outlook and adjusted earnings, saying it expects to post a profit in the kwourt quarter. then, in the conference call, the ceo said the company is still losing quite a bit of money on its credit card offering and investment. dan what do you make of this one? >> last

and now, gm's largest plant is feeling the pressure.iations, and just how much worse this can get for automakers. you're watching "fast money," live from the nasdaq market site in times square. we're back right after this. i'm kareem abdul jabbar. i was diagnosed with afib. the first inkling that something was wrong was i started to notice that i couldn't do things without losing my breath. i couldn't make it through the airport, and every like 20 or 30 yards i had to sit down and get my breath. every physical exertion seemed to exhaust me. and finally, i went to the hospital where i was diagnosed with afib. when i first noticed symptoms, which kept coming and going, i should have gone to the doctor and told them what was happening. instead, i tried to let it pass. if you experience irregular heartbeat, heart racing, chest pain, shortness of breath, fatigue, or light-headedness, you should talk to your doctor. afib increases the risk of stroke about 5 times i want my experience to help others understand the symptoms of atrial fibrillati

in total, some 40,000 workers are now on strike at stellantis, ford and gm.s more than a quarter of the membership employed by detroit's big three auto—makers. the auto—makers have laid off thousands of workers. this strike is historic for targeting all three auto—makers at once. union members are asking for pay increases, as well as better benefits for retirees and others. this is the first escalation since the uaw ordered nearly 9,000 workers to walk out at ford's largest plant in mid—october. the tactic has been to play the auto—makers against each other and, in this instance, the uaw may try to pressure stellantis to match an offer on the table. we'll get a glimpse into what this means when gm and ford report currently earnings this week. in the past, the 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 closin

it's been afford but gm stellantis. it's been a gut _ afford but gm stellantis. gut punch and they needed to get a deal done _ a gut punch and they needed to get a deal done and this rips the band—aid off and _ deal done and this rips the band—aid off and it's _ deal done and this rips the band—aid off and it's less owner us than the worries_ off and it's less owner us than the worries out— off and it's less owner us than the worries out there. 25%, originally 40%_ worries out there. 25%, originally 40% on— worries out there. 25%, originally 40% on the — worries out there. 25%, originally 40% on the table but now go back to the factories and start building electric— the factories and start building electric vehicles, this is the pinnacle _ electric vehicles, this is the pinnacle time and investors will like the — pinnacle time and investors will like the structure of the deal given how bad _ like the structure of the deal given how bad it — like the structure of the deal given how bad it could have been. yes they are le . a how bad it could have been. yes they ar

the other thing that stood out is what the union said came from gm just before the union's president here's part of what shawn fain had to say about what general motors is apparently giving in to now. >> we were about to shut down gm's largest moneymaker in arlington, texas. the company knew those members were ready to walk immediately, and just that threat has provided a transformative win. gm has now agreed in writing to place their electric battery manufacturing understood our national master agreement. >> reporter: yasmin, there are two things i want to point out there about electric vehicle batteries. evs are seen as the future of this industry. they are also something that has been a point of concern and contention throughout negotiations because there's the possibility that electric vehicles will require fewer workers to make them. so that in theory would mean fewer jobs. that is something that is a point of concern for people, and the other thing that is interesting about what gm has apparently agreed to at this point is that a week ago when ford went from being given an exem

we have also seen in the contract with ford and stellantis, with the expectations in gm, that workersave the right to strike over may or any plant closure, and additionally in the gm deal we have heard a couple of weeks ago that they were going to be putting in any electric vehicle plant which are new job coming online and that may be added to the deal, including all of the big economic raises that these union members are going to be getting in this deal. of course, we will need to wait to see the fine print, and john, once the union makes for mall announcement, we can expect the final gm workers will be coming off of the picket line and go back to work soon. >> and so a big deal there announced, and vanessa yurkevich filling in the blanks there and keep us posted. sara? >> okay. right now officials in egypt are saying that 75 aid trucks are now on to egyptian side of the border crossing at rafah, and a majority of them are undergoing to security checks and include desperate aid that are needed in a dire humanitarian crisis worsening from the ground and a charity organization save the

a few more vehicles than gm is right now.o your earlier point, making sure they have enough financing ready. how much more of that is the broader story? david: it's a big piece. gm is out of place right now where they are getting the newest battery. in terms of range and performance. it is billions of dollars to add the batteries that they are adding. converting some of the assembly plants to make the vehicles. gm had a particularly good recorder, sales have been very good. those are the big money makers. when you think about that in context of the strike, they will withstand a longer strike, further still. they may look at that profit, earnings are released and say you have even more money. matt: what do we know about inventories? how long until it is a problem where a customer will go to the chevy dealer and see they have no trucks left and just go down the street and see if they could get a tundra or tighten? david: for the chevy colorado and the gmc midsize pickups, dealers tommy they were already running low. they are po

wrapping up gm this morning.et's get the opening bell here and the cnbc world celebrating a recent ipo at the nasdaq choice one financial services celebrating 125 years of the bank >> look. i think that what phil said is very important in the sense that fain outsmarted them and the fact that -- we're in a different moment i think that both unions are getting their way and treasury is getting in the way with just gigantic issuance, and i think that's why individual companies really struggle hard, carl, to be able to make a break out here, because you have to distinguish yourself above that fray union fray, yield curve fray these are major head winds that we haven't seen since the '90s. >> going jay's way >> yeah, but we have to see the deficit. i don't want to sound like a deficit hawk here, but boy, anybody who likes stocks, look david, anybody who likes stocks knows that frankly, there are no treasuries to be bought by foreign countries and that was always something you can -- i remember one time apeople are wor

gm said it was leased notjust a job. gm said it was pleased with _ notjust a job.outcome i notjust a job. gm said it was i pleased with the outcome with the ceo adding the deal would allow to continue to invest in our future and provide good jobs in the united states. the agreements which still need to be ratified by rank union members include a 25% wage increase over 4.5 years as well as other benefits. for the uae w this is a big victory, historically the union has negotiated new contracts with one carmaker at a time, by taking on all three at once the president of the uaw successfully pitted them against each other. for the ast against each other. for the past several _ against each other. for the past several weeks, i against each other. for the | past several weeks, pundits were — past several weeks, pundits were crying the union was going to far. _ were crying the union was going to far. that— were crying the union was going to far, that we were demanding too much — to far, that we were demanding too much. we did not listen to them — too much. we did not list

city nonsupport, report earnings are on monday in if it beats the stock goes higher. >> if you like gmg higher. what you looking at carleton. >> bank stock, taking a look at goldman sachs, this is one andrew and i sit next to each other trading just below book value which has been a good time to buy, we know the bank has had problems, they tried to get into retail banking, it did not work out so well, if you look at the last two quarters, kitchen sink in the massive influent personal financial management program, now it is about dealmaking needs to come back in golden is firing on all cylinders. jack: ceo david solomon says is out of the dj business for now he's focusing on banking. thank you ben, carleton and andrew. check out barron's.com don't forget to follow us on twitter or x at barron's online. that is all for us we will see you next week on "barron's >> from the fox studio in new york

the uaw earlier this week took out the two biggest plants for gm and stellantis, the gm plant in arlingtone full size suvs and the stellantis full size truck plant in sterling heights, michigan, outside of detroit the pressure is still on with them, and you can bet the uaw is going to continue pushing and pushing hard on both gm and stellantis we'll see how long it takes to get the deal ratified by the rank and file, now that ford and the uaw have a tentative agreement. back to you. >> phil, one down, it looks like, two to go. thanks >>> investors are paying close attention to the slide in technology stocks and the volatility in the treasury markets. joining us now to talk more about that is mohamed el-erian, chief economic adviser at allianz, the pressure of queens college at cambridge university and the co-author of the new book "permia crisis: a plan to fix a fractured world. let's talk about the economy we have the gdp coming out in just about less than an hour's time from now. that's expected to be a strong number, but there are so many questions swirling about the economy. where do y

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

gm saying the stoppage has already cost them $800 million in pretax earnings. both companies confirm talks continue. >> i wouldn't be surprised that eventually gm and stellantis ultimately agree to contracts with a similar type of pay raise for their workers. >> reporter: president biden who made history joining the picket line last month calling the ford deal a testament to the power of employers and employees coming together. ford saying they want to get their close to 20,000 workers back on the job soon. no date for the ratification has been set. >>> the rollout of the latest covid-19 vaccine booster is going very slowly. the shots were recommended a month ago, and the cdc says 7% of adults have gotten it and only 2% of children. these rates are described as abysmal. >>> angie lassman is here with a look at where a storm system is headed next. >> we've got more rain and more snow to deal with here over the next couple days. let's break it all down for you. you can see the satellite and radar showing a messy kind of wet morning commute in some spots across th

gm reports tuesday, giving wall street the first look at strikes' impact. ford follows on thursday.ou 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. that's expected to be next year — when campaigners hope these trees will still have a bright future. for more stories from across the uk, head l to the bbc news website. you're live with bbc news. more business news injust a moment. uk employment figures will be re

he wants to move gm further on economic issues.it harder in a surprise attack and waving. that is what do these deeper hits mean for gm at the end of the day when it comes to their ability to operate with thousands walking out? gabrielle: they still have decent inventories of a lot of these vehicles. it is not like you will see tomorrow, oh my gosh, you cannot get a cadillac escalade at all. they still have these in inventory. the financial hit, they talk about it. maybe earnings estimates the third quarter even though they took a $200 million hit from the strike. going forward, we are looking at $250 million a week in losses, estimate from wells fargo, with this arlington plant taken down. hopefully, it will not last long enough that people will not be able to get these cause, but it is causing them financial pain in an effort to get them to give up more at the table. jon: thanks. a lot to continue watching. gabrielle has been tracking the latest on the auto story. you have paul jacobson saying they are not going to do a deal that

gm has been bargaining over cost-of-living and pensions.nt 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 probably going to make progress on those individual issues to avoid adding more plants walk out on them. guy: do you think a strong payroll number has any impact, any bearing on how this strike is likely to develop? the dater are telling us that the labor market is still tight and there is huge demand for jobs. david: i think a tight labor market always gives workers more leverage. this is a case, though, workers in these union jobs, even though they are complaining about pay, they are paid pretty well compared to manufacturing workers in other sectors. uaw workers are not getting bad pay, they just don't feel that they have been able to share in the record profits of the companies. they still would have

gm reports tuesday given wild streak the first book.hursday.- 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 been particularly significant i of. so far, it hasn't been i particularly significant from the standpoint of the economy. the economy has been able to would withstand higher r

when it comes to, stellantis gm, ford there a link doing small portion of sales this year.hey're falling behind. we see mercedes increasing their ev share. matt: the concern for the union is ev require fewer workers to put together. have you researched that? have you look into it? seem to think they would need the same amount of workers for ev for the was they need now. is tesla doing it with fewer people? does it require fewer workers on the assembly line? >> there was a report out last week that covered this question arguing that more labor. in this decade yet to look at it as the deal is self adding on the battery manufacturing as well as the components that go into those batteries. it is complicated question. the big creature is whether you're talking about the industry as it is today or where it is going tomorrow. the big three are falling behind. the important part it is been a tough year of the ev front because they're going through that manufacturing challenge. moving for they're going to have to increase their ev adoption and as they go through negotiations, ev sal

in addition to the people on strike the, about 25, 30,000, 2300 people laid off at gm.d stellantis, about 640 layoffs as a result of the strike. it now stretches across 23 states if you count in the mack truck strike that just started this week, and, you know, the support for the strike the, well, democratic politicians continue to come out. john fetterman, the senator from pennsylvania, yesterday out on the picket lines at the mack truck plant, he's also been in detroit at those picket lines. and i asked him yesterday on the line here in pennsylvania whether he's concerned about the demands that the union is making. some people think they've gone too far. take a listen. are you worried about the impact on the companies if they negotiate a deal that puts them at a disadvantage? >> no, no. i, i hope these workers make them pay until they pay them what today deserve. they deserve. >> reporter: the national polling on this strike the continues to show support for the strikers. ab 72% of democrats and even half of republicans actually say they sport this backout -- support

as chuck browning said, you know, it puts the pressure on gm and stellantis. if ford's making and selling vehicles and these guys are still on strike the, well, that's not pretty. so, you know, detroit free press, to repeat the headline, says they are close to an agreement at the stellantis and gm as a well. we will see how that goes, liz. it's been a wild ride on this one. and it continues. liz: that is very big news. and we're just watching general motors it's down just about a quarter of a percent. let me look at stellantis at the moment, down 1.5%. this is big news, that the detroit free press is giving through you, jeff. let's just hope that ford sort of broke up the block decade there, right? -- block decade there. >> reporter: it did, yeah. normally this would be a pattern that the other automakers would follow, but this year we said, you know, that's -- all bents are off this time, you know? what they didn't get, the uaw didn't get from ford was the battery plants. they wanted the battery plants to be included in this contract. that didn't happen. gm h

gm making six offers with progress in, quote, key areas.nwhile, 75,000 kaiser permanente employees continuing their strike today threatening a longer strike in november if demands are not met. even if resolved, these strikes could have lasting consequences in the long term, possibly for inflation. just last week the billionaire investor barry sternwick weighed in with his thoughts. >> the uaw is on strike. they are asking for 40% wage increases. the union, the democrats, what's wrong with the biden administration and why is he so unpopular? inflation. that's what people say. it's the economy, dummy. that's why people have less in the pocket and now he's backing the union which is putting wages up which is increasing the inflation that he has to call. >> let's bring in jim pethokoukis along with bill sorel who works with unions and workers in their labor relations. bill, let me start with you. are strikes inflationary in and of themselves, number one? number two, are the strikes going on right now in any sense big enough to be in any way inf

we also have to see if gm and stellantis do the same thing. matt: more portly, workers will go back to the kentucky truck plant and start building super dutys. they will go back to the michigan asante plant and start building broncos again. ford will come back to full speed well gm and stellantis are still stuck in strike. some of the highest margin plants. does that push them to make a deal today, tomorrow, this week? veronica: absolutely -- gabriel: absolutely. there is a competitive -- there's a lot of competitive inter-dynamics. the union has been very thoughtful in their strategy of how they have conducted this. not only in picking certain plants to stretch their strike fund but now they want to reward them and incentivize gm and stellantis to come along. that is what is happening today. they are at the table. gm is at the table and stellantis and they are working to pressure those two the fall in line and follow the pattern they got with ford. matt: you are sitting in a tesla right now, a nonunion car. how does it look to workers -- gabr

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

less busy for you after the agreement with ford yesterday, we are still waiting for stellantis and gm will they fall into line? >> it should happen pretty soon. there is not a lot of leeway for the two companies so not to something similar to the four agreement. there could be some other key issues in their that are a little different like job security at certain plants and that could take time. it should be within a week i would think as they get everything agreed to. if i thought of a major snafu, it would be stellantis guaranteeing a product and some different options discussed their but that could be a fight but the rest of it unless they want to get away with paying less than what for degree to which would be tough, this should be a pattern agreement that gets done in the next few days. jon: when the company outlined the cost of this work stoppage and then starts talking -- about having to make that up in some way through efficiencies, what will we see from ford? >> this is tough. this is a pretty rich contract. there could be more cutting and fixed costs and reduce headcount at