UAW leaders send Stellantis contract deal to members for vote -source

- Leaders of the United Auto Workers union on Thursday agreed to send a tentative contract agreement with Chrysler-parent Stellantis to members for a ratification vote, a source told Reuters.

UAW President Shawn Fain plans to unveil additional details of the labor agreement that includes a 25% pay hike and improved retirement benefits and runs through April 2028 in remarks that will air on social media at 7 p.m. Eastern time. The source confirmed the UAW tentative agreements with Stellantis, General Motors and Ford include an additional ratification bonus of around $110 per day for employees who were on strike or laid off during the work stoppage that began in mid-September.The UAW's deals with Detroit's automakers have put pressure on non-union companies to raise pay to retain workers.

Some Tesla workers say they'd never work in a unionized factory, even as Ford and GM workers are set to get a major pay boost "Tesla still very much has a startup culture and that's a lot different than a union culture," one Tesla worker told Insider amid UAW's contract wins. -- Brookfield Infrastructure Partners LP will acquire most of the assets of bankrupt data center firm Cyxtera Technologies Inc. for $775 million, adding new holdings in a key area of focus for the alternative asset manager.

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