Musk's UAW Jab, Kushner's Saudi Funding And Schiff's Inflation Warning: Top Stories From This Weekend You Shouldn't Miss

From Elon Musk’s bold remarks on the UAW strike to allegations around Jared Kushner‘s Saudi Funding, this weekend was a whirlwind of headlines. Let’s dive into the top stories that kept the business world buzzing.

Elon Musk Comments on UAW Strike

Elon Musk, CEO of Tesla Inc. (NASDAQ:TSLA), chimed in on the United Auto Workers’ strike against Detroit’s Big Three automakers, including Stellantis (NYSE:STLA), Ford Motor (NYSE:F), and General Motors (NYSE:GM). Musk, who runs a non-unionized company, waded into a debate on a post that summarized the union’s demands. The union is pushing for a 40% increase in hourly pay over four years, among other benefits. Read the full article here.

Kushner’s $2B Saudi Funding Scandal

Allegations surrounding a $2 billion funding received by Jared Kushner from Saudi Arabia have sparked concern. Rep. Robert Garcia (D-Calif) described the funding as “completely outrageous” and a matter that needs investigation, considering Kushner’s heavy involvement in the Trump administration’s Middle East policy. Read the full article here.

See Also: Paul Krugman Highlights Trump’s Delusional Comments To Slam Disinflation Deniers: ‘Much Of This Is … A Refusal To Admit Anything Anything Might Be Going Right Under Biden’

UAW President Responds to Layoff Announcements

The UAW strike led to layoff announcements from both Ford (NYSE:F) and General Motors, which UAW president Shawn Fain quickly dismissed. The strike, initiated against GM, Ford, and Stellantis, resulted in nearly 13,000 workers leaving their positions. Read the full article here.

AOC Criticizes Jim Cramer

Rep. Alexandria Ocasio-Cortez (D-NY) criticized CNBC's Jim Cramer for suggesting that the Big Three automakers, including Ford, General Motors, and Stellantis (NYSE:STLA), should relocate their auto production to Mexico amid the ongoing UAW strike. Read the full article here.

Peter Schiff Warns of Inflation

Economist Peter Schiff has issued a stark warning to investors expecting inflation to slow down, stating that inflationary pressure is not yet contained. Schiff’s warning comes amid recent reports of a spike in pricing pressure due to higher energy prices. Read the full article here.

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