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AT&T hasn’t had any labor problems in four years. Until now. About 21,000 workers walked out on Friday afternoon, beginning a 3 day strike which resulted in chaos and sporadic store closures for AT&T. Those workers belong to a union called The Communications Workers of America, which houses AT&T employees. Those employees were joined by more than 17,000 AT&T internet and wireline workers in California and Nevada. Why are these workers striking? What can AT&T do to rectify the situation?
Read The Capitalist’s Take Here
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TRUMP SIGNS $110 BILLION ARMS DEAL WITH SAUDI ARABIA; SEES $350 BILLION IN SAUDI INVESTMENT TO U.S.
Under political fire at home, U.S. President Donald Trump sealed a $110 billion arms deal with Saudi Arabia on Saturday on his maiden foreign trip as he struggled to shift attention from the aftermath of his firing of the director of the FBI. The arms deal, plus other investments that U.S. Secretary of State Rex Tillerson said could total up to $350 billion, was the central achievement of Trump’s first day in Riyadh, first stop on a nine-day journey through the Middle East and Europe. Speaking to journalists after a ceremony to exchange agreements, Trump said
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UBER THREATENING TO FIRE KEY DRIVERLESS CAR EXEC IN BATTLE WITH GOOGLE
Uber is threatening to fire the engineer at the centre of its legal battle with Alphabet’s self-driving-car firm Waymo unless he hands over documents from his previous employer. Anthony Levandowski previously worked at Waymo, which is owned by Google’s parent company, Alphabet, to help develop autonomous vehicle tech. But he subsequently left to create his own self-driving-truck startup, Otto, which Uber acquired for $680 million…
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Closing Bell
– Friday, May 19th
Markets Close UP Behind Strong Day for Industrials and Financials
Big Insider Trades
– Moody’s Corp. (MCO) CEO Raymond McDaniel Sells $7m
– American International Group, Inc. (AIG) CEO Brian Duperreault Buys $5m
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