The union for longshoremen along the East Coast and Gulf of Mexico has agreed to extend its contract for 30 days, averting a possible strike that could have crippled operations at ports that handle about 40 percent of all U.S. container cargo, a federal mediator announced Friday.
Twinkie lovers, relax: Your snacks are likely to survive, even though Hostess Brands will not. Despite the problems that led Hostess to bankruptcy court, its high brand recognition and strong revenues ensure other companies will bid for at least slices of its baked goods empire.
Hostess Brands says it is going out of business, closing plants that make Twinkies and Wonder Bread and laying off all of its 18,500 workers. The Irving, Texas, company blamed its troubles on a nationwide worker strike.
American Airlines is sending layoff warning notices to more than 11,000 employees although a spokesman says the company expects job losses to be closer to 4,400. The notices went out to mechanics and ground workers whose jobs will be affected as American goes through a bankruptcy restructuring.
When it comes to the profit side of the pro basketball lockout, nobody wins -- except maybe basketball fans' savings accounts. Those fans and the money that the now-shuttered NBA stands to lose will not migrate to another sport.
The Occupy Wall Street protesters might not believe they've got too many "suits" on their side, but retailer Men's Wearhouse took a stand for them last week. On Wednesday, Occupy Oakland planned a citywide strike to protest income disparity in America, and the local Men's Wearhouse closed its doors in support.
After the strife-torn NBA cancelled the first two weeks of the basketball season, we wondered: Would this mean any financial relief for fans? Somewhere in the war between the wealthy players and owners, are there savings to be found for the ordinary people who spend money on NBA tickets and gear?
Expect to pay more this year for many consumer goods -- from diapers to toothpaste to Big Macs. Just as the typical American family will finally have a few more dollars to spend, inflation will take a chunk of that extra cash.
Temporary workers at a Hyundai Motor manufacturing plant in South Korea reportedly have agreed to end a near-monthlong strike that was inhibiting domestic production of subcompact cars, such as the Hyundai Accent.
France's Parliament voted to raise the retirement age from 60 to 62 in a move supporters say may preserve the country's pension system. Yet the proposal has also caused nationwide strikes.
Oil prices reached their highest point in five months due to the combination of a weakening dollar, an interest-rate cut in Japan, a strike by French workers and a barge crash that closed off a Texas shipping route.
Toyota said Thursday that an ongoing strike by workers at parts supplier Denso means its large plant in Guangzhou, China, will remain closed through the weekend. But a limited resumption of production at the parts plant is expected to allow Toyota to restart its assembly lines as soon as Monday.
Toyota and Honda have halted production at some auto assembly plants in China after strikes by laborers at parts suppliers.
Labor unrest is once again affecting production at a Toyota plant in China. Toyota said Tuesday it suspended production at a car-assembly plant in southern China after workers at a parts supplier went on strike, according to reports.