Mercedes changes U.S. factory leadership ahead of UAW vote
Federico Kochlowski has replaced Michael Goebel as CEO of Mercedes-Benz U.S. International, which operates the 6,100-employee plant in Vance, Ala.
Number of Americans applying for jobless claims remains historically low
By MATT OTT (AP Business Writer)
The number of Americans applying for unemployment benefits was unchanged last week and remains historically low as the labor market continues to show resiliency in the face of high interest rates and elevated inflation.
The Labor Department reported Thursday that unemployment claims for the week ending April 27 was 208,000, the same as the previous week. That’s the fewest since mid-February.
The four-week average of claims, which softens some of the weekly volatility, fell by 3,500 to 210,000.
Weekly unemployment claims are considered a proxy for the number of U.S. layoffs in a given week and a sign of where the job market is headed. They have remained at historically low levels since the pandemic purge of millions of jobs in the spring of 2020.
The Federal Reserve raised its benchmark borrowing rate 11 times beginning in March of 2022 in a bid to stifle the four-decade high inflation that took hold after the economy rebounded from the COVID-19 recession of 2020. The Fed’s intention was to loosen the labor market and cool wage growth, which it said contributed to persistently high inflation.
YouTuber Mondi crashes McLaren Senna into Lexus dealership
The driver, known on YouTube as Mondi, bought the supercar a week earlier. He also totaled a GMC Hummer EV in 2022.
Harbour Results, adviser to tool-and-die shops and small manufacturers, acquired by Wipfli
Harbour Results Inc., a longtime advisory group to small- and medium-size automotive manufacturers and tool-and-die makers in North America, was acquired by Milwaukee advisory and accounting firm Wipfli.
Repair shop owner aims to start social impact movement in auto industry
In 2020, Dan Adam created a nonprofit group called Stranded Motorist Fund, which helps customers who can’t afford expensive vehicle repairs.