This Afternoon's Top News Stories

Here's a quick look at a few of the headlines making news this afternoon.

Chrysler, CAW reach deal
The Canadian Auto Workers Union has reached a tentative agreement with Chrysler, following successful negotiations with Ford and GM and averting strikes north of the border. In a deal reached late Wednesday, Chrysler agreed to match key wage and benefit clauses negotiated with Ford and GM, according to a report in The Globe and Mail. The deals balance keeping people employed with keeping wages in check.

Weak steel demand closes China factory
China's largest listed steelmaker, Baoshan Iron & Steel, has halted production at a plant in China that has been losing money thanks to low steel prices, high costs, and weak demand, according to a Reuters report. The plant produces steel plates used for ship building, oil rigs, and construction. Baoshan Iron & Steel is a subsidiary of Baosteel Group.

Starbucks to increase Scandinavian profile
Starbucks
(Nasdaq: SBUX  ) has signed a deal with Umoe Restaurant Group to build its presence in Norway and Sweden, The Wall Street Journal is reporting. It is slated to open the first in a series of stand-alone stores in Oslo next year and then spread them into Stockholm.

“We are proud to increase our presence in Scandinavia as part of our growth strategy in Europe, Middle East and Africa, and further develop stores where our customers want and expect us to be," Michelle Gass, president of Starbucks' Europe, Middle East and Africa division, is quoted as saying in a press release. "For our expansion on the high street in Scandinavia we found a strong partner in Umoe Restaurant Group who services renowned brands in the Scandinavian region and has significant local expertise."

Fool.com editor Kris Eddy does not own shares of any company mentioned in this article. The Motley Fool owns shares of Ford Motor and Starbucks. Motley Fool newsletter services have recommended buying shares of Starbucks, Ford Motor, and General Motors. Motley Fool newsletter services have recommended writing covered calls on Starbucks. Motley Fool newsletter services have recommended creating a synthetic long position in Ford Motor. The Motley Fool has a disclosure policy.

We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days.


Read/Post Comments (0) | Recommend This Article (1)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2034311, ~/Articles/ArticleHandler.aspx, 10/31/2014 11:50:57 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement