Reuters US Business

By David Shepardson and Joseph White (Reuters) -The United Auto Workers (UAW) said Monday that 64% of workers at the Detroit Three automakers voted to ratify new record contracts after a six-week targeted strike, as the union turns its attention to organizing foreign-owned and Tesla auto plants. The votes lock in the UAW’s tentative agreements …

UAW clinches record Detroit deals, turns to organizing Tesla, foreign automakers Read More »

By Greg Bensinger (Reuters) -General Motors’ Cruise co-founder and chief product officer Daniel Kan has resigned, the company told Reuters on Monday, a day after Cruise CEO Kyle Vogt quit. A spokesperson for Cruise said Kan announced his resignation in a Slack message. The company and Kan offered no other details. In his message to …

GM Cruise cofounder, senior exec Dan Kan quits day after CEO exit Read More »

(Reuters) – Microsoft CEO Satya Nadella on Monday said that ousted OpenAI CEO Sam Altman and Greg Brockman will be joining Microsoft to lead a new advanced AI research team. Nadella also appeared to confirm Emmett Shear’s reported appointment as the new OpenAI CEO, saying they are “looking forward to getting to know Emmett Shear …

Microsoft CEO says Sam Altman will be joining Microsoft Read More »

By Saeed Azhar, Isla Binnie and Tatiana Bautzer NEW YORK (Reuters) – Citigroup employees expect the bank to announce layoffs and senior management changes on Monday as part of its biggest reorganization in decades, according to five sources with knowledge of the matter. The job cuts could affect thousands of staff, according to a source …

Citigroup employees brace for layoffs, management overhaul -sources Read More »

(Reuters) -Blackstone is the lead to win the $17 billion portfolio of commercial-property loans from the U.S. Federal Deposit Insurance Corp’s (FDIC) sale of Signature Bank debt, Bloomberg News reported on Sunday. In September, the FDIC was seeking buyers for the $33 billion commercial real estate loan portfolio of failed New York lender Signature Bank. …

Blackstone frontrunner in Signature Bank commercial-property loan sale- Bloomberg News Read More »

By Tom Hals (Reuters) – A Missouri jury ordered Bayer to pay $1.56 billion to four plaintiffs who claimed the company’s Roundup weedkiller caused injuries including cancer, a verdict that could intensify investor pressure on the German drugs and agricultural chemicals company to change its legal strategy. The Cole County, Missouri jury found on Friday …

Bayer ordered to pay $1.56 billion in latest US trial loss over Roundup weedkiller Read More »

(Reuters) – The OpenAI board is in discussions with Sam Altman to return as the CEO of the company, The Verge reported Saturday, citing multiple people familiar with the matter. (Reporting by Gursimran Kaur in Bengaluru; Editing by Cynthia Osterman)

By Anna Tong OpenAI CEO Sam Altman’s firing was over a “breakdown in communication between Sam and the board,” and not “malfeasance or anything related to our financial, business, safety, or security/privacy practices,” Chief Operating Officer Brad Lightcap wrote in an internal company memo Saturday morning, viewed by Reuters. The board of OpenAI, the company …

OpenAI CEO’s ouster was over “breakdown of communications,” not “malfeasance” -memo Read More »