Your Evening Briefing: UAW Scores Early Victory in Big Three-Face Off

The United Auto Workers’ unprecedented strategy to simultaneously target all three legacy carmakers is showing results. The union said that it clinched key concessions from Ford and would spare the company more pain even as it expanded the strike to 38 additional facilities run by rivals GM and Stellantis. That carrot-and-stick approach as the union seeks structural increases in pay and benefits could give it more leverage than in the past, when it singled out one automaker and used that deal to pattern agreements with the other two. The fresh tactics are a hallmark of new UAW President Shawn Fain, who has kept carmakers guessing about his next move.

Goldman Sachs and Citadel Securities each reached multimillion-dollar settlements with the US Securities and Exchange Commission on Friday over how they labeled millions of trades. Goldman agreed to pay a $6 million fine for sending inaccurate or incomplete trading data to the SEC on at least 163 million transactions over the course of a decade. Meanwhile, the regulator said a coding error at Citadel led to short sales being labeled as longs, and vice versa, and that Ken Griffin’s market-making firm would pay $7 million.