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Anheuser-Busch InBev (BUD) faces down first big union battle of 2024. (00:25) UnitedHealth (UNH) falls amid report DOJ has launched antitrust review. (01:10) Apple (AAPL) cancels work on electric vehicle; to shift workers to generative AI: report. (01:47)
That is an abridged transcript of the podcast.
5 thousand staff at a dozen U.S. Anheuser-Busch InBev (BUD) breweries are preparing to strike this week.
The present 5-year contract with the Teamsters expires on Thursday.
Nationwide bargaining with the Teamsters began in September of final yr.
In December, 99% of staff voted to strike in the event that they don’t attain an settlement. The teamsters additionally introduced that they may more than double the strike pay of staff to $1,000 per week if a strike ought to occur.
In a statement on the corporate’s web site, Anheuser-Busch (BUD) notes that it has contingency plans in place for a nationwide strike to maintain the beer flowing.
The employees are asking for job safety, a rise in retirement advantages and wages.
The Dept. of Justice has reportedly began an antitrust review of UnitedHealth Group (NYSE:UNH).
In line with a WSJ report on Tuesday, which cited individuals accustomed to the matter, the DOJ is probing ties between UnitedHealth and its Optum health-services-arm. The regulator is interviewing healthcare business representatives in areas the place UnitedHealth competes.
Investigators are asking about potential impacts of the corporate’s doctor-group acquisitions on rivals and shoppers, the WSJ reported.
Spokespeople for UnitedHealth (UNH) and the DOJ declined to remark to the WSJ.
UnitedHealth (UNH) closed Tuesday down 2.27%. Premarket the UNH is down 1.2%.
Apple (NASDAQ:AAPL) has canceled work on its electric vehicle project and shifted a few of the workers to work on generative synthetic intelligence,
Bloomberg reported that Apple’s Chief Working Officer Jeff Williams and Kevin Lynch, who had been answerable for the initiative, often known as Challenge Titan, made the shock announcement on Tuesday to roughly 2,000 workers.
Apple didn’t instantly reply to a request for remark from In search of Alpha.
Apple had spent billions of {dollars} on the initiative, one thing that Chief Govt Tim Cook dinner as soon as known as “the Mother of all AI projects.”
Lots of the workers engaged on the automotive venture will now go to work for Apple government John Giannandrea, who heads up the tech big’s Machine Studying and AI Technique unit. Some shall be laid off, in keeping with varied media studies.
Different articles to look out for on In search of Alpha:
Top 10 most overbought large-cap stocks on Wall Street
Microsoft faces another EU probe for alleged antitrust practices: report
OpenAI asks judge to dismiss parts of New York Times lawsuit over alleged ‘hack’ (update)
On our catalyst look ahead to the day,
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Apple (AAPL) will maintain its annual assembly. Shareholders will vote on proposals masking AI objectives, ESG targets, and CEO compensation.
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Shareholders with Powerfleet (PWFL) and MiX Telematics (MIXT) will meet to vote on the proposed enterprise mixture between the businesses.
U.S. shares on Tuesday ended blended amid small strikes.
The Nasdaq (COMP.IND) closed 0.37% larger. The S&P 500 (SP500) added 0.17%. The Dow (DJI) slipped 0.25%.
Of the 11 S&P sectors, eight ended within the inexperienced, led by Utilities. Vitality topped the losers.
Now let’s check out the markets as of 6 am. Forward of the opening bell at the moment, Dow, S&P and Nasdaq futures are within the purple. The Dow is down 0.3%, the S & P 500 is down 0.3% and the Nasdaq is down 0.4%. Crude oil is down 1% at greater than $78 per barrel. Bitcoin is up 4.8% at greater than $59,000.
On the planet markets, the FTSE 100 is down 0.6% and the DAX is up 0.1%.
The biggest movers for the day premarket: Past Meat (NASDAQ:BYND) is up 55% after reporting better-than-expected Q4 income and highlighting margin acceleration within the second half of the yr.
On at the moment’s financial calendar:
