Tag: electric vehicle batteries

UAW Strike May End With ‘Historic Deal’ With General Motors
Business

UAW Strike May End With ‘Historic Deal’ With General Motors

The United Auto Workers union reached a tentative agreement on a new contract for 48,000 General Motors workers on Monday, bringing a potential end to the union’s roughly six-week strike against the “Big Three” automakers.The union said it had achieved a core demand in talks with GM: putting battery plant employees under the UAW national agreement, which would guarantee that those workers would bargain collectively amid the industry shift toward electric vehicles.The UAW called it “a historic tentative agreement” in a statement, saying it “paves the way for a just transition and wins record economic gains for autoworkers.”The union reached similar tentative deals with Ford and Jeep parent company Stellantis in recent days, with GM being the last holdout. Now that three tentative agreement...
GST Council to decide on taxing corporate, personal guarantees: Source
Business

GST Council to decide on taxing corporate, personal guarantees: Source

NEW DELHI: India's Goods and Services Tax (GST) Council is expected to decide whether tax will be levied on corporate and personal guarantees on loans or debt issuances, according to a source.Such a tax has long been under debate in the country.The decision will be taken by the GST Council, which consists of federal finance minister and state finance ministers, in its next meeting on Oct 7.According to a proposal that the GST Council will consider, an 18% tax would be applicable on the declared value of the corporate guarantee, or 1% of the guaranteed amount in cases where the value of commission for the guarantee is not known.Companies provide guarantees to banks on behalf of their holding companies or subsidiaries and charge a fee. The fee or commission depends on credit-worthiness of t...