Friday business headlines
Friday’s business headlines
INDIANAPOLIS (WISH) — Here is a look at Friday’s business headlines with Jane King.
UAW ratifies GM Contract
United Auto Workers Employees at General Motors approved a new 4 1/2-year labor contract by a slim margin.
Workers voted 54.7% to approve the labor deal in a nail-biter count that came down to the final facilities after several major factories rejected the contract.
Contracts were also approved by Ford and Stellantis.
Cars for sale at amazon.com
Customers will be able to shop for, equip, and buy a car at amazon.com and schedule delivery through a local Hyundai dealer.
The agreement is an expansion of a deal made two years ago to expand Hyundai’s digital showroom on Amazon.
Car dealership stocks tanked after the amazon announcement.
Investment funds buying farmland
Investment funds has become huge buyers of U.S. farmland. This is amassing to over a million acres as they seek a hedge against inflation and aim to benefit from the growing global demand for food. This is according to data reviewed by Reuters and interviews with fund executives.
The trend worries some U.S. lawmakers who fear corporate interest will make agricultural land unaffordable for the next generation of farmers. Those lawmakers are floating a bill in Congress that would impose restrictions on the purchase.
rare mineral deposit in Wyoming
A Wyoming mine contains what might be the largest so-called unconventional rare-earth deposit in the U.S.
Rare earth minerals are in greater demand for a variety of uses, including electric vehicles and offshore wind turbines.
Much of the rare earth market is controlled by China so the Wyoming discovery would bring some of that business to the U.S.
Old Forester released 150 decanters of a 12 1/2-year-old Bourbon that was bottled to celebrate its anniversary in 2020.
The Bourbon is priced at $2500, they sold out in 14 minutes.