Air Canada union rejects binding arbitration hours from mass walkout
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25 minutes ago
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Uber Freight CEO Lior Ron Leaves $5.1B Unit For Waabi's AI-First Driverless Trucks: 'Most Positioned To Lead The Transformation'
Uber Freight founder and CEO Lior Ron is leaving the top job to become chief operating officer at self-driving truck startup Waabi, Bloomberg reports. Ron, who built Uber's (NYSE:UBER) freight and logistics unit into a $5.1 billion business, will lead Waabi as it works to launch fully driverless trucks in Texas before the end of this year. According to TechCrunch, Ron's move comes as autonomous freight technology nears commercial viability, and Waabi prepares to scale operations against deep-pocketed rivals like Aurora, which has already launched the first driverless trucking route in the U.S. Tesla (NASDAQ:TSLA) veteran Rebecca Tinucci, who TechCrunch says spent six years building the automaker's charging network, will replace Ron as head of Uber Freight after Tesla cut its charging staff last year. Ron will remain chair of Uber Freight while taking on his new role at Waabi, Bloomberg reports. Don't Miss: The same firms that backed Uber, Venmo and eBay are investing in this pre-IPO company disrupting a $1.8T market — Bill Gates Warned About Water Scarcity. Ron and Raquel Urtasun Reunite to Drive AI-First Autonomy to Market Waabi founder and CEO Raquel Urtasun told TechCrunch that Ron will lead go-to-market strategy, expand key partnerships, and bring Waabi from its current development stage to "commercialization at scale." She pointed to his track record of scaling Uber Freight from inception to a multibillion-dollar revenue operation as proof that he can guide Waabi through its next phase. Ron and Urtasun share a history in the sector, TechCrunch says. Ron co-founded self-driving truck company Otto, which Uber acquired in 2016, while Urtasun served as Uber's chief scientist for self-driving research between 2017 and 2021. Ron said his decision to join Waabi was driven by timing and the scale of opportunity in autonomy, telling TechCrunch, "If the most impactful thing to do in the next decade is autonomy, and if the timing is right, then for me it's really about joining forces with who I think is most positioned to lead the transformation." Ron described the career shift as "like going back to the roots" in an interview with Bloomberg. Trending: 'Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. You can Inside Waabi's $287.7M AI-First Platform and Virtual Test World Founded in 2021, Waabi has raised $287.7 million, including a $200 million Series B in 2024 led by prominent investors, such as Uber and Khosla Ventures. Urtasun told TechCrunch the company's "AI-first" approach allows it to develop and validate self-driving systems with fewer resources and in less time than competitors. Central to Waabi's development is Waabi World, a closed-loop simulator that trains and tests its self-driving software by generating real-time scenarios, including accidents and construction zones, without physical risk. According to TechCrunch, earlier this year, Waabi declared its system "feature complete," meaning it had all the necessary capabilities to operate without a human driver and was now focusing on performance improvements and validation ahead of its driverless launch. The company plans to begin operations in Texas, which TechCrunch says has become a hub for autonomous freight testing and deployment, but has not disclosed the specific routes or launch partners. Waabi is collaborating with Volvo Autonomous Solutions to build custom autonomous trucks for its Lior Ron Says Freight Operators 'Could Not Wait' For Waabi's Depot-To-Door Driverless Trucks Ron told TechCrunch that demand from freight operators is strong, noting that chief supply chain officers and major carriers he met at Uber Freight "could not wait" for self-driving trucks. He added that Waabi's trucks will be able to drive directly to customer depots, avoiding the need for costly transfer terminals, and will deliver a "commercial-ready solution" for operators looking to integrate autonomy quickly. With Aurora's public market funding and head start on commercial routes, TechCrunch says that Waabi's leadership is betting that its leaner, AI-driven approach will help it compete and scale faster in the race to lead autonomous freight in the U.S. Read Next: In a $34 Trillion Debt Era, The Right AI Could Be Your Financial Advantage — Image: Shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? TESLA (TSLA): Free Stock Analysis Report This article Uber Freight CEO Lior Ron Leaves $5.1B Unit For Waabi's AI-First Driverless Trucks: 'Most Positioned To Lead The Transformation' originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. 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Yahoo
30 minutes ago
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Air Canada flight attendants to defy back-to-work order, remain on strike: union
Air Canada flight attendants will defy the back-to-work order and remain on strike after the federal government ordered binding arbitration to end the work stoppage, the Canadian Union of Public Employees (CUPE) told Radio-Canada on Sunday. CUPE said in a statement that members would remain on strike and invited Air Canada back to the table to "negotiate a fair deal." "We will be challenging this blatantly unconstitutional order that violates the Charter rights of 10,000 flight attendants, 70 per cent of whom are women, and 100 per cent of whom are forced to do hours of unpaid work by their employer every time they come to work," it said in a statement. Air Canada and a Canadian government spokesperson were not immediately available for comment. Earlier this morning, the Montreal-based airline announced it planned to resume flights starting Sunday evening, a day after the Canadian government issued a directive to end a cabin crew strike that caused the suspension of around 700 daily flights, stranding more than 100,000 passengers. "I don't think anyone's in the mood to go back to work," Lillian Speedie, vice-president of CUPE Local 4092, told CBC's News Network at a picket line outside Toronto Pearson International Airport in Mississauga on Sunday. "To legislate us back to work 12 hours after we started? I'm sorry, snowstorms have shut down Air Canada for longer than we were allowed to strike." WATCH | Federal government steps in to resolve Air Canada labour dispute: The federal government moved to order the airline and its flight attendants back to work on Saturday, less than 12 hours after the strike and lockout took effect. The union has accused federal Jobs Minister Patty Hajdu of caving to Air Canada's demands. Air Canada said Sunday it had been directed by the Canada Industrial Relations Board (CIRB) to resume operations and have flight attendants return to their duties by 2 p.m. ET. It said the CIRB had ordered the terms of the collective agreement between the union and the airline that expired on March 31 be extended until a new agreement is reached. CUPE announced early Saturday that its members were heading to the picket lines after being unable to reach an 11th-hour deal with the airline, while Air Canada locked out its agents about 30 minutes later due to the strike action. Air Canada relies on government help: labour expert Steven Tufts, associate professor and labour geographer at York University, says Air Canada has become dependent on the federal government to solve its labour-relations issues. He mentioned last year's dispute between the airline and the pilots' union. Air Canada asked for the government to be ready to step in before the two sides reached a tentative agreement in September 2024. "[Air Canada] tried to get the government to intervene with pilots last year," Tufts told CBC News Network. "Air Canada has to learn not to call mommy and daddy every time they reach an impasse at the bargaining table. They have to actually sit down and get a deal done with their workers." Earlier this week, Air Canada asked Hajdu to order the parties to enter a binding arbitration process. But intervention was something she resisted until Saturday afternoon, when she said it became clear the two sides were at an impasse. CUPE maintained it opposed arbitration, instead preferring to solve the impasse through bargaining. It said her decision "sets a terrible precedent." "The Liberal government is rewarding Air Canada's refusal to negotiate fairly by giving them exactly what they wanted," the union wrote in a statement Saturday afternoon. The two sides are set to return to the table this week. The union accused Air Canada of refusing to bargain in good faith due to the likelihood of the government stepping in and imposing arbitration. It has said its main sticking points revolve around wages that have been outpaced by inflation during its previous 10-year contract, along with unpaid labour when planes aren't in the air. CUPE announced it is calling a national day of action and will have demonstrators outside of the Toronto, Montreal, Vancouver and Calgary airports this morning. Flights by Air Canada Express, operated by third-party airlines Jazz and PAL, were not affected. The airline says customers whose flights were cancelled and did not travel or accept a refund will be notified and provided with a new itinerary.
Yahoo
44 minutes ago
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Why I Just Bought More of This Ultra-High-Yield Dividend Stock
Key Points Brookfield Infrastructure pays reliable and growing distributions with an exceptional yield. The company's underlying business is diversified and stable. Brookfield Infrastructure has solid growth opportunities, especially with investing in data infrastructure. 10 stocks we like better than Brookfield Infrastructure Partners › I first invested in Brookfield Infrastructure Partners (NYSE: BIP) (NYSE: BIPC) nearly five years ago. Unfortunately, the stock hasn't been a big winner for me. Given this mediocre past performance, you might think I'd consider exiting my position in the stock. Nope. Instead, I recently added to my stake in Brookfield Infrastructure. Here are three reasons why I just bought more units of this limited partnership (LP). 1. Reliable and growing distributions Brookfield Infrastructure's total returns have been significantly better than its stock performance. That's because the company pays reliable and growing distributions. Its forward distribution yield currently stands at 5.67%. Brookfield Infrastructure has a 16-year history of distribution increases. During that time, the LP has increased its distribution per unit by a compound annual growth rate (CAGR) of 9%. I think Brookfield Infrastructure should be able to continue growing its distribution. The company targets an annual growth rate of between 5% and 9%. Its payout ratio target range is a comfortable 60% to 70%. Am I relying on Brookfield Infrastructure's distributions as a source of income right now? No. However, I view the stock as a great income-generator down the road. In the meantime, I can reinvest the juicy distributions in Brookfield Infrastructure or other stocks that I expect to deliver solid total returns over the next few years. 2. A diversified and stable underlying business Another reason I recently invested more in Brookfield Infrastructure is that its underlying business of investing in infrastructure assets is diversified and stable. That's important to me with the uncertainty surrounding the ultimate impact of tariffs on the global economy. Around 41% of Brookfield Infrastructure's funds from operations (FFO) comes from its transportation businesses. The company operates 36,300 kilometers of rail operations in Australia, Brazil, Europe, North America, and the U.K. It also owns 3,300 kilometers of toll roads in Brazil and Peru. Brookfield Infrastructure also has major utility operations that generate 25% of its FFO. These include 3,500 kilometers of gas pipelines and 3,140 kilometers of electricity transmission lines. I'm a fan of midstream energy stocks. Brookfield Infrastructure is a big player in this space, too, with 15,000 kilometers of transmission pipelines, 16 natural gas and natural gas liquids processing plants, and storage facilities that can hold 570 billion cubic feet of natural gas. This LP is invested in technology and telecommunications, as well. It has 28,000 kilometers of fiber optic cable and 306,000 operational telecom towers. The company's infrastructure assets also include over 140 data centers and two semiconductor manufacturing foundries. 3. Solid growth opportunities Since 2009, Brookfield Infrastructure Partners has increased its FFO per unit by a CAGR of 14%. The company expects to continue growing FFO per unit by a double-digit percentage in the future. And I think it will be able to achieve this goal. Brookfield Infrastructure's management team likes to point to three trends driving the company's growth: digitalization, decarbonization, and deglobalization. Digitalization refers to growth opportunities related to increasing data consumption, especially in data centers. Decarbonization reflects the push to reduce carbon emissions, a trend that could boost the use of cleaner-burning natural gas. Deglobalization involves the supply chain shifts that are moving essential manufacturing closer to home, which helps Brookfield Infrastructure's transportation businesses. The company is investing heavily in growth, with a capital backlog of more than $7.9 billion. Considering the tremendous growth in demand for artificial intelligence (AI), it isn't surprising that nearly three-quarters of this backlog is related to data infrastructure assets. I also like that part of Brookfield Infrastructure's growth strategy is to sell mature assets when it can obtain attractive returns. For example, during the first seven months of 2025, the company generated proceeds of around $2.4 billion from selling nine assets. Should you buy stock in Brookfield Infrastructure Partners right now? Before you buy stock in Brookfield Infrastructure Partners, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Brookfield Infrastructure Partners wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $668,155!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,106,071!* Now, it's worth noting Stock Advisor's total average return is 1,070% — a market-crushing outperformance compared to 184% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of August 13, 2025 Keith Speights has positions in Brookfield Infrastructure and Brookfield Infrastructure Partners. The Motley Fool recommends Brookfield Infrastructure Partners. The Motley Fool has a disclosure policy. Why I Just Bought More of This Ultra-High-Yield Dividend Stock was originally published by The Motley Fool
