Business Briefs – 10-27-2019

GM Workers Ratify Contract, 40-Day Strike to End

ROMULUS, Mich. (AP) — General Motors workers voted 57.2% in favor of a new contract with the company, bringing an immediate end to a contentious 40-day strike that paralyzed GM’s U.S. factories. Workers voted 23,389 in favor of the deal, with 17,501 against it, according to a statement Friday from the United Auto Workers union. The union now will turn its attention to bargaining with crosstown rival Ford.

For Businesses, Brexit Is Happening Already

LONDON (AP) — As politicians squabble over how and when Britain will leave the EU, Brexit is already reshaping the economy. Businesses are shifting investments, creating new supply chains and stockpiling goods to mitigate any damage that would occur from leaving the EU.

Lion Air Crash Report Points to Boeing, Pilots, Maintenance

JAKARTA, Indonesia (AP) — Indonesian investigators say a deadly combination of factors caused the crash of a Boeing 737 MAX jet that killed 189 people a year ago. Officials said Friday that aircraft design flaws, inadequate training and maintenance problems meant that Lion Air flight 610, from Indonesia’s capital Jakarta to the island of Sumatra, was doomed. One of the biggest problems is that the plane’s pilots were never told how to quickly respond to malfunctions of its automated flight-control system.

Japan’s SoftBank Shaken by WeWork, But Committing Billions

TOKYO (AP) — Japanese technology company SoftBank Group Corp. has committed billions of dollars to bailing out office-space sharing startup WeWork in a daring vote of confidence from its intrepid founder, Masayoshi Son. The troubled company’s woes threaten to derail the investment ambitions of SoftBank’s Vision Fund. But, as one of the most innovative companies in conservative Japan Inc., SoftBank is no stranger to risk-taking.

After Withdrawal, Trump Shifts Focus to Syria’s Oil Fields

WASHINGTON (AP) — President Donald Trump is getting renewed criticism for shifting his focus in Syria to its oil fields. Trump tweeted Thursday maybe it’s time for displaced Kurds to “start heading to the Oil Region,” an apparent reference to an area of Syria that U.S. military commanders see as critical to holding off an Islamic State group resurgence. Trump has repeatedly referred to Syria’s oil fields as prized land. Trump’s critics say he doesn’t fully understand the fragile dynamics of the region.