Striking workers approve second contract offer from RTX's Pratt & Whitney
Union representatives have previously said the roughly 3,000 striking workers' top priority is getting Pratt to commit to keep work for Lockheed Martin's (LMT.N), opens new tab F-35 fighters in the state.
The strike is the first in more than 20 years at the enginemaker's Connecticut sites, where it produces engines for the F-35 and about 70% of the company's geared turbofan engine, which is used in European planemaker Airbus' (AIR.PA), opens new tab strong-selling A320 neo family.
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Daily Mail
23 minutes ago
- Daily Mail
Man Scottie Scheffler drafted in to caddie for him earns eyewatering sum of money for four days' work
Scottie Scheffler may have been without Ted Scott on his bag once again at the weekend but the caddie's replacement stepped up just fine. The world No 1 was without his mainstay caddie as he teed it up at the BMW Championship last week after Scott had to leave the PGA Tour playoffs to rush back home to Louisiana for a family emergency earlier this month. However, unfortunately for his fellow pros, even that couldn't stop the recent Open champion as he rolled to yet another victory with substitute bagman Michael Cromie. And after stepping in for duty, Cromie, who usually caddies for six-time PGA Tour winner Chris Kirk, walked away from Caves Valley Golf Club with an eyewatering payday. Scheffler claimed the BMW Championship's staggering $3.6 million prize money for the victory - his fifth of the season - and in doing so, paid out a hefty sum to his replacement caddie. In golf it is customary for players to award their caddies a 10 percent cut of their winnings from tournaments, meaning, if Scheffler follows the rule, Cromie likely walked away with a $360,000 paycheck. That figure already surpasses what Cromie would have already banked for the entire 2025 season so far. The 33-year-old has been on the bag for Kirk since 2020 with the Tour professional pocketing $2,939,050 this season, according to the PGA Tour's official money list. The average on Tour is $1,977,255. However, American player failed to make the cut for the restricted 50-man field at the BMW Championship, that only sees the top players in the FedEx Cup standings compete before being whittled down again to 30 for this week's Tour Championship. Kirk agonizingly fell short, finishing 51st in the rankings and just one spot our of the BMW Championship's exclusive field. However, his exclusion freed up Cromie to caddie for Scheffler, who came from behind to win the tournament Sunday, beating Robert MacIntyre by two strokes in Maryland. 'He's a guy I can trust,' Scheffler told reporters or Cromie following Sunday's victory. 'He's one of Ted's good buddies. I'd just say it's pretty much as simple as that. Cromie is a guy that works hard. He does his prep work, and he was an easy guy for me to trust out there.' Scheffler added, 'I felt like we did a good job of talking through our shots and staying patient and keep doing the right things even when things were looking a little bit squirrelly there on the back nine. 'We did a good job of staying focused and continuing to hit shots at the right targets. Closed the tournament out nicely.' Scheffler will now head to East Lake where a massive $10 million prize awaits for the Tour's champion. However, it remains unclear whether Scott will return to Scheffler's bag n time for the Tour Championship, which tees off in Atlanta, Georgia on Thursday, or whether Cromie will be called upon yet again. Scheffler acknowledged Scott's absence at the weekend but refused to divulge any details surrounding his trip home. 'Ted is at home with his family, and he's where he's supposed to be,' Scheffler told reporters. 'We're praying for them, and his family is doing all right. Cromie did a great job this week. It's not easy stepping in and trying to fill in for Ted. Those are some big shoes to fill.' If Cromie does stay on Scheffler's bag this week, it could turn into a lucrative couple of weeks' work if the four-time major winner maintains his usual imperious form. Said form has earned Scott an eye-watering amount over the past few years - more than most players Ahead of last week's tournament, Scheffler had already banked $20.36m in tournament prize money, giving Scott just over $2m for himself.
Reuters
26 minutes ago
- Reuters
Trump says Putin may not want to make a deal on Ukraine
WASHINGTON/LONDON/KYIV, Aug 19 (Reuters) - U.S. President Donald Trump said on Tuesday he hoped Russia's Vladimir Putin would move forward on ending the war in Ukraine but conceded that the Kremlin leader may not want to make a deal at all, adding this would create a "rough situation" for Putin. In an interview with the Fox News "Fox & Friends" programme, Trump said he expected that Putin's course of action would become clear in the next couple of weeks. Trump also again ruled out American boots on the ground in Ukraine and gave no specifics about the security guarantees he has previously said Washington could offer Kyiv under any post-war settlement. "I don't think it's going to be a problem (reaching a peace deal), to be honest with you. I think Putin is tired of it. I think they're all tired of it, but you never know," Trump said. "We're going to find out about President Putin in the next couple of weeks ... It's possible that he doesn't want to make a deal," said Trump, who has previously threatened more sanctions on Russia and nations that buy its oil if Putin does not make peace. Ukraine and its European allies have been buoyed by Trump's promise of security guarantees to help end the war during an extraordinary summit on Monday but face many unanswered questions, including how willing Russia will be to play ball. Ukrainian President Volodymyr Zelenskiy hailed Monday's talks at the White House with the U.S. president as a "major step forward" towards ending Europe's deadliest conflict in 80 years and towards setting up a trilateral meeting with Putin and Trump in the coming weeks. Zelenskiy was flanked by the leaders of allies including Germany, France and Britain at the summit and his warm rapport with Trump contrasted sharply with their disastrous Oval Office meeting in February. But beyond the optics, the path to peace remains deeply uncertain and Zelenskiy may be forced to make painful compromises to end the war, which began with Russia's full-scale invasion in February 2022. Analysts say more than 1 million people have been killed or wounded in the conflict. While the Washington talks allowed for a temporary sense of relief in Kyiv, there was no let-up in the fighting. Russia launched 270 drones and 10 missiles in an overnight attack on Ukraine, the Ukrainian air force said, the largest this month. The energy ministry said Russia had targeted energy facilities in the central Poltava region, home to Ukraine's only oil refinery, causing big fires. "The good news is that there was no blow-up (at the White House). Trump didn't demand Ukrainian capitulation nor cut off support. The mood music was positive and the trans-Atlantic alliance lives on," John Foreman, a former British defence attache to Kyiv and Moscow, told Reuters. "On the downside, there is a great deal of uncertainty about the nature of security guarantees and what exactly the U.S. has in mind." Ukraine's allies were to hold talks in the so-called "Coalition of the Willing" format on Tuesday to discuss the way forward. NATO chiefs of defence will also discuss security guarantees for Ukraine on Tuesday, a source close to the matter said, without mentioning further details. Russia has made no explicit commitment to a meeting between Putin and Zelenskiy. Foreign Minister Sergei Lavrov said on Tuesday that Moscow did not reject any formats for discussing the peace process in Ukraine but any meeting of national leaders "must be prepared with utmost thoroughness". "It doesn't smell like peace yet. I think Putin will not go for it, he is not that kind of person," said a 63-year-old resident of Kyiv, Oksana Melnyk. "I really wanted it all to end peacefully, but, unfortunately, a lot of our people died and it is very bitter.' Putin has warned that Russia will not tolerate troops from the NATO alliance on Ukrainian soil. He has also shown no sign of backing down from demands for territory, including land not under Russia's military control, following his summit talks with Trump last Friday in Alaska. Trump has not specified what form any U.S. security guarantees could take. In Alaska he backed away from insisting that Russia agree to a ceasefire before any peace negotiations kick off in earnest. Neil Melvin, director, International Security at the Royal United Services Institute think-tank, said Russia could drag out the war while trying to deflect U.S. pressure with a protracted peace negotiation. "I think behind this there's a struggle going on between Ukraine and the Europeans on one side, and the Russians on the other, not to present themselves to Trump as the obstacle to his peace process." "They're all tiptoeing around Trump" to avoid any blame, he said, adding that on security guarantees, "the problem is that what Trump has said is so vague it's very hard to take it seriously".
Reuters
26 minutes ago
- Reuters
Wall St set for mixed open, Home Depot puts focus on retail earnings
Aug 19 (Reuters) - Wall Street's main indexes were set for a mixed open on Tuesday as investors assessed retailer Home Depot's earnings for insights on the health of the American consumer and awaited a key Federal Reserve conference scheduled later in the week. Consumer spending accounts for around 70% of the total U.S. economy and traders are keen to know the impact U.S. tariffs have had on corporate forecasts and individual expenditure. Data last week showed the levies had dented consumer confidence in July. Home Depot's shares (HD.N), opens new tab edged up 1.8% in choppy premarket trading after the home-improvement retailer kept its annual forecasts intact, despite quarterly results missing estimates as homeowners reduced spending on big renovations in favor of smaller DIY projects. Reports from rival Lowe's (LOW.N), opens new tab as well as big-box retailers Walmart (WMT.N), opens new tab and Target (TGT.N), opens new tab are expected later this week. On the policy front, remarks from Fed Vice Chair for Supervision Michelle Bowman are due later in the day. Bowman, who is under consideration for the central bank's top job when Chair Jerome Powell's term ends next year, has voiced support for at least three interest rate cuts this year, in line with President Donald Trump's calls for lower borrowing costs. Interest rate futures point to a total of two rate cuts this year worth 25 basis points each, with the first expected in September, according to data compiled by LSEG. "People are a bit hesitant to spend right now with the level of interest rates and some of the uncertainty created by inflation," said Robert Pavlik, senior portfolio manager at Dakota Wealth. "Until they get clarity, hopefully in the form of fewer tariff hikes and maybe some interest rate cuts, we're probably stuck in this bit of malaise." At 08:42 a.m. ET, Dow E-minis were up 106 points, or 0.24%, S&P 500 E-minis were down 1.25 points, or 0.02%, and Nasdaq 100 E-minis were down 25.25 points, or 0.11%. Wall Street's main indexes have recovered since their April lows, when trade uncertainty stuck global markets, and have picked up steam following a better-than-expected earnings season and on the rate-cut expectations. The key event this week is the Fed's annual symposium at Jackson Hole, Wyoming, from Aug. 21-23, where Powell's comments will be scrutinized for any clues on the central bank's outlook on the economy and monetary policy. Dow component Caterpillar (CAT.N), opens new tab rose 1.7% after brokerage Evercore ISI upgraded the construction equipment maker's stock to "outperform" from "in line". Intel (INTC.O), opens new tab jumped 6% after the chipmaker got a $2 billion capital injection from Japan's SoftBank Group (9984.T), opens new tab. Palo Alto Networks (PANW.O), opens new tab surged 6.6% after the cybersecurity company forecast fiscal 2026 revenue and profit above estimates. Medtronic (MDT.N), opens new tab said it would add two new directors to its board after Elliott Investment Management took a large stake in the medical-device maker. Shares were last down 3.6%. Crude prices dropped 1% as traders weighed the possibility that talks between Russia, Ukraine and the U.S. to end the war in Ukraine could lead to the lifting of sanctions on Russian crude, raising supply.
