(Reuters) -Members of the United Auto Workers on Saturday ratified a new labor contract with Daimler Truck that includes at least a 25% general wage increase over the four-year deal. The vote was 94.5% in favor of the new contract, which covers more than 7,300 hourly UAW workers after a tentative agreement was reached in late April, averting a strike at the 11th hour. The contract covers hourly workers at six facilities in southern states where unionization has traditionally been low, including four factories in North Carolina and parts warehouses in Georgia and Tennessee.
(Bloomberg) -- Australia plans to wipe out about A$3 billion ($2 billion) from student loans, cutting the debt of more than three million people, as the country continues to grapple with inflation and cost-of-living pressures.Most Read from BloombergEverything Apple Plans to Show at May 7 ‘Let Loose’ iPad EventBerkshire Cash Hoard Scores Another Record as Earnings GainThe World’s Hunger for Salmon Is Linked to an Ecological DisasterBuffett and Berkshire’s Entertainment Value Is WaningTrump Aide
A special committee of the Paramount Global board charged with evaluating offers for the company met Saturday morning, though rival bidders for the studio are awaiting word on next steps. Paramount ended its exclusive negotiations with Skydance Media without a deal on Friday, allowing the special committee to entertain other offers for the home of "Mission: Impossible" and "SpongeBob SquarePants." Paramount's special committee has yet to contact Sony Pictures Entertainment, which, together with private equity firm Apollo Global Management, sent a letter on Wednesday expressing interest in acquiring Paramount, according to two sources familiar with the matter.
(Bloomberg) -- Russia’s fortress economy has proved remarkably resilient to an onslaught of Western sanctions. Two years after the Kremlin’s invasion of Ukraine, it continues to fund a costly war and to prop up President Vladimir Putin. Most Read from BloombergEverything Apple Plans to Show at May 7 ‘Let Loose’ iPad EventBerkshire Cash Hoard Scores Another Record as Earnings GainThe World’s Hunger for Salmon Is Linked to an Ecological DisasterBuffett and Berkshire’s Entertainment Value Is Waning
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