Business

Demonstrators during a United Auto Workers (UAW) practice picket outside the Stellantis Mack Assembly Plant in Detroit, Michigan, US, on Wednesday, Aug. 23, 2023.Jeff Kowalsky | Bloomberg | Getty ImagesThe United Auto Workers labor union launched targeted strikes against the three Detroit automakers early Friday morning. The stoppages affect three plants that make popular models such as the Ford Bronco, Chevrolet Colorado and Jeep Wrangler.It's the first time in history that the UAW has struck all three of the Detroit automakers at once. But while the strikes began at the same time, they may play out very differently in the…

MALIBU, California – The most amazing thing about the $2.1 million Rimac Nevera is how easy it is to just get in and drive.The Nevera is an electric hypercar from Croatia. It sits low — very low — to the ground, and at first glance it looks like the simple act of getting into it could be complicated. But the doors, which lift up and out sort of like a Lamborghini's, cut into the roof just enough to ensure that I don't bump my head as I drop myself into the driver's seat.Getting underway does take a little bit of…

An American Airlines 787 is loaded with cargo at Philadelphia International Airport.Leslie Josephs/CNBCMore companies are warning that a surge in the cost of fuel and employee pay hikes will eat into profits this quarter.Companies from aerospace manufacturers to package delivery giant UPS are digesting big new labor deals. Meanwhile, unions from the auto industry to Hollywood are pushing for better compensation. Airlines, whose biggest expenses are jet fuel and labor, are getting hit particularly hard.Delta Air Lines on Thursday cut its adjusted earnings forecast for the third quarter to between $1.85 and $2.05 a share, down from an earlier forecast…

A McDonald's fast food restaurant is seen in Belmont, United States on April 03, 2023.Tayfun Coskun | Anadolu Agency | Getty ImagesAfter California lawmakers passed a landmark fast-food bill, an independent advocacy group of McDonald's owners is pushing back against what it says will be a "devastating financial blow" to its franchisees in the state, according to a memo to its membership viewed by CNBC.The bill, AB 1228, was passed by the state Senate late Thursday and heads to Gov. Gavin Newsom's desk for signature. He has already pledged to sign the bill into law. It includes a wage floor…

Chris Rondeau, CEO of Planet FitnessAdam Jeffery | CNBCIn a move that stunned investors and employees alike, Planet Fitness ousted company veteran Chris Rondeau from his post as CEO, the workout chain said Friday in a press release.Shares closed nearly 16% lower in the wake of the announcement, hitting a 52 week low.Planet Fitness said it is searching for its next chief both internally and externally. Craig Benson, a former governor of New Hampshire and a member of the company's board, will serve as the interim CEO. He's a franchisee of both Planet Fitness and Dunkin' Donuts and has been…

DETROIT — The United Auto Workers strike is bringing a blue-collar versus billionaire battle to the Motor City, just as UAW President Shawn Fain wanted.The outspoken union leader has weaponized striking — historically a last resort for the union — after less than 24 hours into a work stoppage arguably better than any UAW president has in modern times.It wasn't by accident.Fain, a quirky yet emboldened leader, has meticulously brought the UAW back into the national spotlight after decades of near irrelevance. He wants to represent not just union members but also America's embattled middle class, which UAW helped create.United…

Flags are flown at a car caravan and rally of fast food workers and supporters for passage of AB 257, a fast-food worker health and safety bill, on April 16, 2021 in the Boyle Heights neighborhood of Los Angeles, California.Mario Tama | Getty ImagesFast-food workers in California are set to receive pay hikes next year after the restaurant industry and unions reached a compromise over a controversial bill.The deal, brokered with the help of Gov. Gavin Newsom's office, also creates a nine-person council that will decide on future wage hikes for the fast-food industry in California through 2029. The agreement…

Pharmacist Ani Martirosyan administers an immunization to a patient at a CVS on Tuesday, Sept. 12, 2023 in Glendale, CA. Brian Van Der Brug | Los Angeles Times | Getty ImagesFor the first time ever, vaccines for Covid, the flu and respiratory syncytial virus are available in the U.S. Public health officials are urging eligible Americans to take all three shots so the nation can avoid another "tripledemic" of Covid, flu and RSV, which inundated hospitals last fall and winter. But the fact that some people can now receive three shots has raised questions about whether they should take the jabs all…

Members of the United Auto Workers union hold a rally and practice picket near a Stellantis plant in Detroit, Aug. 23, 2023.Michael Wayland / CNBCDETROIT – Thousands of members of the United Auto Workers went on strike at three U.S. assembly plants of General Motors, Ford Motor and Stellantis, after the union and the automakers failed to reach a deal on a new labor contract Thursday night."The UAW Stand Up Strike begins at all three of the Big Three," the union said in a post on X, the site formerly known as Twitter, just after midnight Friday.The facilities are GM's midsize truck and full-size…

Co-founders Eddie Kim, Josh Reeves, and Tomer London of fintech startup Gusto, which handles payroll services for small businesses.Courtesy: Kelly Boynton | GustoJPMorgan Chase is stepping up its appeal to small business customers by planning to offer digital payroll processing, CNBC has learned.The bank has picked San Francisco-based fintech player Gusto to provide the underlying technology for the feature, according to Gusto CEO Josh Reeves."If you're a customer of Chase payments solutions, you can go to payroll from the same exact place you do banking," Reeves said. "It's the same experience, with the same login and credentialing; all that stuff…