GM settlement: General Motors has reached a tentative settlement with the United Auto Workers union. GM is the third major auto manufacturer against which the union had gone on strike. Stellantis and Ford also have tentative contracts with the union. The agreement with GM was announced shortly after the union said it was expanded its strike against GM with an additional 4,000 union members will be joining picket lines at GM plants in Texas, Missouri and Michigan. The tentative contract with Stellantis was patterned after the deal with Ford, including 25% wage increases through April 28, 2028, which is when the contracts would expire.
U.S. warships: The U.S. is sending additional warships to waters off Israel to try to deter Arab nations from helping Hamas as the conflict between Israel and Hamas widens. Israel staged additional ground assaults into Gaza over the weekend. Internet and phone service in Gaza, which had been cut off when an Israeli air attack hit a building housing an internet service provider, has been partially restored. Hamas this morning released new video purportedly showing three female hostages who were captured Oct. 7.
The women say they want to be exchanged for prisoners being held by Israel.
World Bank warning: The World Bank warned this morning that if the Israel-Hamas war expands, it could result in new cuts to the world’s oil supply. The World Bank said that a moderate cut of 3 million to 5 million barrels a day could push oil prices up by 35% next year. A large disruption in oil supply, by 6 million to 8 million barrels a day could push prices higher by 56% to 75%. World Bank Chief Economist Indermit Gill said the oil market could face shocks from both the Middle East fighting and the war in Ukraine.
Chutkin’s order: Donald Trump claimed last night that Federal Judge Tanya Chutkin was interfering with his free speech rights by reinstating her partial gag order in the Jan. 6 attempted coup case. The order prohibits Trump from intimidating witnesses, potential witnesses and jurors, and publishing personal information about them. Chutkin said that right after she paused the gag order, Trump went after his former White House Chief of Staff Mark Meadows, who it was reported will be testifying for the prosecution. Chutkin had paused the effectiveness of the partial gag order to allow Trump time to file an appeal.
AI safeguards: Using an Executive Order, President Biden is invoking the Defense Production Act to require developers of artificial intelligence software to share safety information with the federal government. Biden believes the government needs to catch up on regulation to control the development and implementation of artificial intelligence systems. Biden wants to see controls put in place to make sure that AI systems are safe and secure before they are put into operation.
Perry investigation: The Los Angeles Coroner’s Office is launching an investigation into the death of actor Matthew Perry. Perry, age 54, was found in the hot tub at his home, an apparent victim of drowning. A Los Angeles Police Department spokesperson said there were no obvious indications of traumatic injury. Perry, who starred on the TV series “Friends,” had dealt with drug and alcohol abuse and addiction over the years.
