General Motors (GM) @ 2023-08-27

News Title: UAW workers overwhelmingly vote to authorize strikes at GM, Ford, Stellantis
Description: UAW members overwhelmingly granted union leaders authorization to strike during ongoing contract negotiations with GM, Ford and Stellantis, if warranted.
News Sentiment: 0.5 (Positive)

General Motors Company

Sector: Consumer Cyclical

Industry: Auto Manufacturers

Full Time Employees: 167000


Long Business Summary:

General Motors Company designs, builds, and sells trucks, crossovers, cars, and automobile parts; and provide software-enabled services and subscriptions worldwide. The company operates through GM North America, GM International, Cruise, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Baojun, and Wuling brand names. The company also sells trucks, crossovers, cars, and automobile parts through retail dealers, and distributors and dealers, as well as to fleet customers, including daily rental car companies, commercial fleet customers, leasing companies, and governments. In addition, it offers range of after-sale services through dealer network, such as maintenance, light repairs, collision repairs, vehicle accessories, and extended service warranties; and safety and security services for retail and fleet customers, including automatic crash response, emergency services, roadside assistance, crisis assist, stolen vehicle assistance, and turn-by-turn navigation. Further, the company provides connected services comprising mobile applications for owners to remotely control their vehicles and electric vehicle owners to locate charging stations, on-demand vehicle diagnostics, GM Smart Driver, Amazon Alexa in-vehicle voice, Google’s Voice Assistant, navigation and app ecosystem, connected navigation, SiriusXM with 360L, and 4G LTE wireless connectivity. Additionally, the company provides automotive financing and insurance services; and software-enabled services and subscriptions. General Motors Company was founded in 1908 and is headquartered in Detroit, Michigan.

Basic Chart

General Motors (GM)
General Motors (GM)

Technical Chart

General Motors (GM)
General Motors (GM)

Suggested Currency Pair: USD/JPY

The news about UAW workers overwhelmingly voting to authorize strikes at GM, Ford, and Stellantis can have an impact on the USD/JPY currency pair. The automotive industry is a significant part of both the US and Japanese economies. Any disruptions in production due to potential strikes can affect the value of both the US dollar and the Japanese yen.

If the strikes occur and lead to production halts or supply chain disruptions, it could negatively impact the US economy and weaken the US dollar. On the other hand, the Japanese yen might strengthen as investors seek safe-haven currencies during times of uncertainty.

Therefore, monitoring the USD/JPY currency pair can provide insights into the potential market reactions and investor sentiment surrounding this news.

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