Workers at VW's Tennessee plant vote against union representation






DETROIT (Reuters) - Workers at Volkswagen AG’s assembly plant in Chattanooga, Tennessee, have voted against union representation, the German automaker and the United Auto Workers (UAW) union said on Friday.

Workers voted 833 to 776 vote against being represented by the UAW, continuing the union’s decades long run of failures to organize a foreign automaker’s plant in the U.S. South.

Read more

American Airlines asks court to end 'devastating' slowdown by unions






(Reuters) - American Airlines Group Inc on Friday asked a federal court to quickly halt an alleged illegal slowdown by mechanics’ unions that has become “devastating” to the airline’s operations.

The world’s largest airline by passenger traffic urged the court to order the unions to stop interfering with the airline’s operations, three weeks after it had filed a complaint and preliminary injunction motion against them.

Read more

Mexico blamed Walmart's size, access to rivals' data in blocking app deal






MEXICO CITY (Reuters) - Mexican officials blocked Walmart Inc’s deal to buy delivery app Cornershop because Walmart could not guarantee a level playing field for rival retailers, whose customers use the app to order groceries and other goods, according to an official document and an interview with the top competition regulator this week.

Cornershop operates in Mexico and Chile, promoting the app as providing delivery of “groceries to your front door in one hour” from retailers including Costco Wholesale Corp, Chedraui and Walmart. It charges retail chains a commission for its services.

Read more

Trump presses Lockheed to keep open a Pennsylvania plant slated for closure






(Reuters) - U.S. President Donald Trump on Friday urged Lockheed Martin Corp to keep open its Sikorsky helicopter plant in Coatesville, Pennsylvania, a week after the weapons maker announced the planned closure of the facility.

The F-35 fighter jets maker had announced plans to closethe plant, which does “completion work” for Sikorsky’s S-92 and S-76D helicopters, citing a multi-year slump in the rotorcraft industry, possibly due to the protracted downturn in oil prices. The plant employs about 465 employees.

Read more

U.S. to launch public hearings on additional China tariffs next week






WASHINGTON (Reuters) - The U.S. Trade Representative’s Office on Monday will kick off seven days of testimony from U.S. retailers, manufacturers and other businesses about President Donald Trump’s plan to hit another $300 billion worth of Chinese goods with tariffs.

The hearings beginning Monday will end on June 25, the USTR said in a statement on Friday. That timeline means Trump would not be able to trigger the fresh wave of tariffs until after July 2, when a seven-day final rebuttal comment period ends.

Read more

U.S. Justice Department set to decide on T-Mobile, Sprint merger as soon as next week: source






WASHINGTON (Reuters) - The U.S. Justice Department is set to decide as early as next week whether to approve the $26.5-billion merger of wireless carriers T-Mobile USA and Sprint Corp, a person briefed on the matter said on Friday.

Earlier this week, Dish Network Corp executives met with the Justice Department’s antitrust chief Makan Delrahim and Federal Communications Commission Chairman Ajit Pai as part of the government’s review of the deal, which could dramatically reshape the U.S. wireless market.

Read more

Apollo in talks to finance Dish Network bid for T-Mobile, Sprint assets - sources






(Reuters) - Private equity group Apollo Global Management is in talks with satellite TV provider Dish Network to finance a bid for wireless assets that will be divested in the proposed merger between T-Mobile and Sprint Corp, according to two people familiar with the matter.

The two U.S. wireless carriers have agreed to sell prepaid brand Boost Mobile to gain regulatory approval for the $26 billion merger. Sources said that Dish is interested in the assets.

Read more

Broadcom's $2 billion warning rattles global chip sector






LONDON/BENGALURU (Reuters) - Broadcom Inc sent a shockwave through the global chipmaking industry on Friday with its forecast that U.S.-China trade tensions and the ban on doing business with Huawei Technologies would knock $2 billion off the company’s sales this year.

The forecast, included in the company’s second-quarter results late on Thursday, was the hardest evidence yet of the damage President Donald Trump’s trade war with Beijing may do to the global industry.

Read more

Wall Street ends down; Broadcom warning hits chip stocks






NEW YORK (Reuters) - U.S. stocks ended lower on Friday as investors were cautious going into next week’s Federal Reserve meeting, while a warning from Broadcom of a broad weakening in global demand weighed on chipmakers and added to U.S.-China trade worries.

Shares of Broadcom Inc fell 5.6% after it cut its full-year revenue forecast by $2 billion, blaming the U.S.-China trade conflict and export curbs on Huawei Technologies Co Ltd.

Read more

Global stocks dip as Fed meeting looms, oil climbs on geopolitical fears






NEW YORK (Reuters) - U.S. stocks ended nominally lower on Friday as investors awaited next week’s Federal Reserve meeting for signs of imminent easing, while the U.S.-Iran confrontation in the Gulf of Oman added to geopolitical uncertainty, sending oil prices higher.

Lingering worries over the U.S.-China trade war also weighed on investor sentiment. Weak China data and a warning of a broad slowdown in chip demand from chipmaker Broadcom Inc were the latest signs of fallouts from the tariffs both countries have imposed.

Read more