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Eni profit falls due to dip in oil prices

Q2 net profit fell by 18% to $637 million.

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

AstraZeneca to invest $50bn in US

Bulk of funds to go into a Virginia manufacturing center.

UAB net profit up by 50% for H1

Total assets increase by 11 percent.

Ford lays off 300 US workers

UAW called on some 13,000 members at the three automakers to stop work, then added another 5,600 a week later due to lack of progress in negotiations. (AFP)
  • The strike against the "Big Three" car manufacturers -- Ford, Stellantis and General Motors -- began on September 15 when a previous contract expired without a replacement
  • Instead of calling for all of its 146,000 members to strike at once, the UAW union has deployed a targeted approach, adding more sites as the weeks drag on

New York, United States– Ford announced Monday that over 300 more workers have been temporarily laid off due to “knock-on effects” from the ongoing strike against the company and two other US automakers.

The strike against the so-called “Big Three” car manufacturers — Ford, Stellantis and General Motors — began on September 15 when a previous contract expired without a replacement.

Instead of calling for all of its 146,000 members to strike at once, the United Auto Workers (UAW) union has deployed a targeted approach, adding more sites as the weeks drag on.

Around 25,000 members have so far been called to stop work.

“Our production system is highly interconnected, which means the UAW’s targeted strike strategy has knock-on effects for facilities that are not directly targeted for a work stoppage,” Ford said in a statement on Monday.

“Approximately 330 employees have been asked not to report to work,” the statement added, saying the total number of “strike-related layoffs” at Ford now totaled 930.

Ford said its sites impacted by Monday’s announcement were in Chicago, Illinois and Lima, Ohio.

Stellantis and General Motors have also reduced staff at several sites for the same reasons.

Initially, the UAW called on some 13,000 members at the three automakers to stop work, then added another 5,600 a week later due to lack of progress in negotiations. A further 7,000 were added the following week to bring the total to some 25,000.