|
Dow Jones Futures Fall: Nvidia Slides On CEO Speech; Google, Tesla Surge Ahead Of Fed Investor's Business DailyUS futures edge lower as Fed fears offset tech cheer By Investing.com Investing.comWall Street ends higher, investors juggle Fed nerves with AI enthusiasm Reuters.comLive news: US stocks climb even as Treasury yields hit 3-week high Financial TimesStock market today: Wall Street rises ahead of a big week for central banks The Associated Press
| RELATED ARTICLES | | |
|
Chinese battery manufacturer Gotion Inc. is suing the township where it plans to build a $2.4 billion electric vehicle battery factory, alleging breach of contract in relation to the project.
The company filed a lawsuit Friday against Green Township, which is just north of Big Rapids, three hours northwest of Detroit, in U.S. District Court Western District of Michigan, claiming that in November it "abruptly reneged" on contractual obligations established for the project in 2023.
"The (Green Township) Board gave no justifiable reason for its sudden refusal to honor its contractual obligations," the lawsuit said.
"The only thing that changed between October and November was the composition of the Township's Board, most of whose members are now ardently opposed to Gotion's project," according to the complaint, written by Gotion attorney Ashley Chrysler with Warner Norcross Judd LLP.
At immediate issue in the federal lawsuit is the construction of water infrastructure for the project, which is promised to bring 2,350 new jobs and dramatic change to the rural community.
Township board members aim to block an extension of a water line running from Big Rapids through its boundaries to serve the plant despite previously entering into a development agreement allowing it. Water is "critical" to the success of the factory, which will require up to 715,000 gallons per day to operate, according to the lawsuit.
The broader issue is general opposition to the plant by newly elected township board members who replaced pro-factory board members in a November recall election.
"To prevent the Township's sudden recalcitrance from unraveling an endeavor already years
|
|
Volkswagen workers in Tennessee took a major step toward becoming the first big auto factory in the South to unionize, asking federal authorities to hold a factory-wide vote on joining the United Auto Workers.
|
|
U.S. stocks ended higher Monday, as investors await a Federal Reserve policy decision this week that's expected to shed light on the prospect for rate cuts later this year.
|
|