In court: The U.S. Supreme Court is divided over a key employment dispute that allows workers to file class-action lawsuits against companies, Reuters reports. Liberal justices today defended the rights of workers to bring the suits against their employers, but their conservative counterparts, who are in the majority, sounded skeptical in the biggest business case of the court’s new term. The case focuses on whether employers can require workers to sign arbitration agreements that curb their ability to bring class-action claims. Read more.
Electric: Even though gasoline-powered SUVs are what people are buying now, General Motors is betting that electric vehicles will be all the rage in the not-too-distant future. The Detroit automaker is promising two new EVs on Chevrolet Bolt underpinnings in the next 1 ½ years, and more than 20 electric or hydrogen fuel cell vehicles by 2023. The company sees its entire model lineup running on electricity in the future, whether the source is a big battery or a tank full of hydrogen. Read more.
Going private: Nordstrom is struggling to cobble together the financing to support its attempt to go private, CNBC reports. The department store chain is working with private equity firm Leonard Green to provide equity financing on the deal and needs bank support for the debt financing. But banks have become skittish as the retail landscape has worsened, and are weary of difficulties in syndicating the debt. CNBC has the full story.
