Pharmacists' union rejects contract offer

The United Food and Commercial Workers union, representing more than 700 pharmacists and pharmacy workers at Ralphs, Vons, Albertsons and Pavilions stores in Southern California, has rejected the latest contract offer from employers.

The UFCW, representing seven locals, said in a statement released Wednesday the contract did not meet the needs of the majority of its members.

“While we are working with a federal mediator to return to the bargaining table with these employers and secure the contract our members deserve, we are ready to take all necessary action to make sure our members’ voices are heard,” the UFCW said in a statement.

The union members, following an “overwhelming” vote on Saturday, authorized union leadership to call for a strike. No dates have been set for a strike and negotiations with the stores have continued.

John Votava, a spokesperson for Ralphs, said the store is continuing to negotiate in good faith and that the strike authorization does not mean there will be a strike or work stoppage.

Semiconductor chip bill heads to Biden's desk

The House on Thursday passed a $280 billion package to boost the semiconductor industry and scientific research in a bid to create more high-tech jobs in the United States and help it better compete with global rivals, namely China.

The House approved the bill by a solid margin of 243187, sending the measure to President Joe Biden to be signed into law and providing the White House with a major domestic policy victory. Twenty-four Republicans voted for the legislation.

The bill provides more than $52 billion in grants and other incentives for the semiconductor industry as well as a 25% tax credit for those companies that invest in chip plants in the U.S. The Congressional

Budget Office projected the bill would increase deficits by about $79 billion over the coming decade.

GDP report spurs investors, stocks

Stocks closed broadly higher again Thursday as investors grew more optimistic that a slowing U.S. economy means the Federal Reserve can temper its aggressive interest rate hikes aimed at taming inflation.

On Thursday, the S&P 500 rose 48.82 points to 4,072.43, while the Dow added 332.04 points to close at 32,529.63. The Nasdaq gained 130.17 points to 12,162.59. The Russell 2000 rose 24.69 points to 1,873.03.

Technology stocks and retailers, restaurant chains and other companies that rely on direct consumer spending helped lift the S&P 500 Thursday. Microsoft rose 2.9%, Target gained 3.1% and Mcdonald’s added 1.8% higher.

Meta Platforms fell 5.2% after the social media giant said its revenue fell last quarter for the first time ever, dragged down by a drop in ad spending.

Trader Joe's store staff near Boston OKS union

Employees at a Trader Joe’s supermarket in Massachusetts on Thursday became the latest workers at a major company to approve a labor union.

The store in Hadley, about 80 miles west of Boston, is the first Trader Joe’s with an employees union, although workers at two other locations have started unionization efforts.

The union vote passed 45-31 with one void. Eighty-one store workers — called crew members or merchants in company lingo — were eligible to vote.

The Monrovia-based company has seven days to file an objection. A company spokesperson did not indicate whether there would be one. The company already has among the best package of pay, benefits, and working conditions in the grocery store business, the spokesperson said.

— From City News Services and Associated Press reports.