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...GMO, TIC and Toyota Motor all declined to comment....
...Chicago-based Grant Thornton is the seventh largest accounting firm in the US after the Big Four, RSM and BDO, with $2.4bn in revenue in its past financial year, which ran to July 2023....
...General Motors is to scale back ambitions for its self-driving unit Cruise following a pedestrian injury last month, which led it to suspend testing....
...General Motors shares were up 4.4 per cent in pre-market trading in New York....
...September’s planned launch of futures trading on FMX will mark a third attempt by the Cantor Fitzgerald chair to break the stranglehold of Chicago’s CME Group over the vast Treasury futures market....
...Google has a 10-year deal with derivatives exchange CME Group and invested $1bn in the Chicago-based business....
...Unionised workers at General Motors ratified a tentative contract that gives them a 25 per cent raise over the next four years, while restoring cost-of-living adjustments and granting retirees a one-time...
...Other earnings: General Motors, Pfizer, and UPS will report their latest earnings before the market opens. Starbucks, Mondelez, AMD and Match Group will post results after the closing bell....
...Separately, the United Auto Workers is on strike against Ford, General Motors and Stellantis in the US....
Critics say incentives undercut efforts to increase US manufacturing of EVs
...In a US hybrid market mainly dominated by Toyota, Honda and the South Korean duo of Kia and Hyundai, domestic manufacturers are racing to catch up.Last month General Motors, which had largely phased out...
...Cruise, the autonomous driving unit of General Motors, said it will cut about a quarter of its workforce, as the company overhauls its business after California regulators banned its driverless vehicles...
...General Motors has announced plans to return “significant capital” to shareholders as the US carmaker seeks to move past difficulties with its ambitions for electric vehicles and driverless cars and from...
...Ford’s forecast comes a day after rival General Motors reinstated its guidance and warned of similar cost pressures, but cheered investors with plans for a $10bn share buyback....
...Meanwhile, Cleveland Fed president Loretta Mester will speak about financial stability at a policy conference in Chicago....
...The union wrested big pay rises and other benefits from Ford, General Motors and Stellantis earlier this month after a six-week strike against the companies....
...Ford has scaled back plans for an EV battery plant, while General Motors and Tesla have paused some of their EV expansion efforts....
...Union workers at General Motors ratified their contract yesterday....
...The California Department of Motor Vehicles had already ordered Cruise to take its driverless cars off the roads....
...General Motors’ Cruise faces probes by numerous federal and state authorities, including the Department of Justice and Securities and Exchange Commission, after an accident that led to the shutdown of driverless...
...It cited improvements in the supply chain and increased production of the motors it makes in-house....
...Autonomous vehicle safety has been in the spotlight since early October, when a robotaxi operated by Cruise, the General Motors driverless car division, collided with a pedestrian and then dragged the person...
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