Economic, Business & Financial industry | Finance news

UAW confirms workers at Tesla have approached the union


The United Automobile Workers union on Friday said it has been approached by workers at Tesla Inc's (TSLA. O) Fremont, California assembly plant, and rejected Tesla Chief Executive Elon Musk's charge that a worker who publicly criticized the company was on the UAW payroll. The worker, Jose Moran, "is not and has not been paid by the UAW," the union said, responding to comments Musk made to the website Gizmodo. Musk told Gizmodo "our understanding is that this guy was paid by the UAW to join Tesla and agitate for a union. He doesn’t really work for us, he works for the UAW."A representative for Moran said he was at work at Tesla on Friday morning. The volley between Musk and the UAW comes as Tesla is planning to idle for a week the Fremont factory where it builds its current Model S sedans and Model X sport utilities to prepare for production of the high-volume Model 3 sedan.

Energy products boost U.S. import prices in January WASHINGTON U.S. import prices rose more than expected in January amid further gains in the cost of energy products, but a strong dollar continued to dampen underlying imported inflation.

Aon to sell benefits outsourcing to Blackstone for up to $4.8 billion Insurance broker Aon Plc said on Friday it agreed to sell its employee benefits outsourcing business to private equity firm Blackstone Group LP for up to $4.8 billion.

Facebook to provide ad data for independent audit Facebook Inc said it would provide information about ads displayed on its platform for an audit, months after the social network admitted to overstating key ad metrics.

Womens panel at structured finance conference to be mostly men


NEW YORK (IFR) - The organizers of the structured finance industry's largest annual conference are adopting a new strategy for tackling the issue of women's advancement - by getting men to talk about it. The 'Women in Securitization' panel at SFIG Vegas, which will be held in Las Vegas in two weeks time, features four men and just one woman. It is the first time men will outnumber women on the Women in Securitization panel since the first one was held at the ABS East conference in Miami in 2015. The discussion will be moderated by Wendy Cohn, a managing director at Fitch Ratings. The other participants include Reed Auerbach, a partner at Morgan Lewis, Howard Kaplan, a partner at Deloitte and Timothy Vara, a managing director at BNY Mellon Corporate Trust. Richard Johns, executive chairman of the Structured Finance Industry Group, which co-organizes the conference with Information Management Network, will also participate.

Several female market participants said they found it strange to have a majority-male lineup for a panel discussing women's issues. "It kind of looks like you're saying you can't find any women within securitization to speak on that panel," said one female structured finance investor who plans to attend the conference. But Johns told IFR the decision was a deliberate attempt to get more men to attend the panel and change their behavior and practices towards promoting women in the industry."There has always been a recognition that the solution cannot solely be about sisters doing it for themselves, so to speak," he said.

"If you are going to have change, you need it not just at the top, board-level mentality, but you also need men and senior executive men who are in a position to do something about this."Male attendance at previous Women in Securitization panels at previous ABS conferences has often been sparse, but Johns said he hoped more men would turn up this year. The men on the panel will be talking specifically about what action they have taken to help women advance in what is still a very male-dominated industry, he said.

"The panel is deliberately comprised of all men, to hear specifically from male leaders in the industry who have benefited from the active promotion of women in securitization," SFIG wrote in a note to its members on Wednesday. Cohn is co-chair of SFIG's Women in Securitization program along with Patricia Evans, vice president of Wilmington Trust. SFIG launched the WiS program in 2014. The initiative aims to "facilitate an environment that encourages women's' ambition and advancement" in structured finance, according to a press release. There were seven women and no men participating in last year's WiS panel in Vegas, four women and three men at last year's Miami panel, and six women and no men at the 2015 Miami panel, according to records.