U.S. Secretary of State Mike Pompeo says Huawei CFO Meng Wanzhou, who is under house arrest in Canada and facing extradition to America, is not a bargaining chip in the trade...Technologyread more
Arturo Estrella has a message for recession naysayers: It could hit sooner than you think.Marketsread more
Local governments commonly share single service providers, making many vulnerable at once. On top of this, ransomware has often been used to mask more targeted, malicious...Technologyread more
Fed Chairman Jerome Powell faces the tough challenge of presenting a unified voice on Fed policy from the most divided Fed in years.Market Insiderread more
Meanwhile, investors look ahead to Fed Chair Jerome Powell's speech at a yearly central banking symposium in Jackson Hole, Wyoming.Asia Marketsread more
The office has long been a breeding ground for budding romances. But actively going into business with your other half is another thing entirely.Successread more
Salesforce released its first earnings report since its $15.3 billion acquisition of Tableau Software, the company's largest deal ever.Technologyread more
Kudlow also confirmed to CNBC that he supported a tax cut proposal floated earlier Thursday by Sen. Rick Scott, R-Fla.Politicsread more
VMware is following through on its proposal to buy Pivotal, a fellow Dell subsidiary, and expanding into cybersecurity with the acquisition of Carbon Black.Technologyread more
Google says it shut down hundreds of YouTube channels tied to misinformation around the Hong Kong protests.Technologyread more
It is a rare scenario where long-term interest rates suddenly fall below short-term interest rates.Real Estateread more
May 8 (Reuters) - General Motors and the largest union representing Canada's auto workers have reached a deal to partly rescue an auto plant in Ontario slated to close this year by converting it to a parts-stamping facility, a source familiar with the matter said on Wednesday.
The plan would help save some union jobs at GM's Oshawa car-making plant, even though the operations would be scaled down and it will no longer produce cars, the source added.
"Oshawa stays open," said the source who spoke on the condition of anonymity. "It's a small foot in the door, but it stays open."
A spokesman for GM declined to comment before an 11 a.m. EDT (1500 GMT) press conference at which the company and the union are expected to make an announcement about the plant. A Unifor spokeswoman also declined comment before the press conference.
GM, which has been increasing its footprint in connected-car development in Canada, will also make an announcement on advanced automotive technologies, the source said.
CBC cited a brochure given to members of Unifor that outlined the plans for employees of the GM plant in Oshawa. In November, GM announced plans to close the plant by the end of 2019, affecting almost 2,600 workers.
Unifor said the closure was contrary to a contract that stipulates there would be no plant closures prior to Sept. 21, 2020. (Reporting by Tyler Choi in Toronto and Allison Lampert in Montreal Additional reporting by Ben Klayman in Detriot Editing by Denny Thomas and Paul Simao)