Amazon Ordered to Negotiate with Staten Island Union

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Amazon has been ordered to negotiate with a labor union representing about 5,000 workers at its Staten Island warehouse, following a ruling by the National Labor Relations Board.

The decision requires Amazon to engage with the Amazon Labor Union, which formed in 2022 and has been pushing for discussions on wages, working conditions and employee rights. The union has since aligned with the International Brotherhood of Teamsters.

The NLRB found that Amazon committed unfair labor practices by refusing to recognize and bargain with the union. The ruling marks a significant development in ongoing efforts to organize workers at the company’s U.S. facilities.

Amazon said it disagrees with the decision and plans to appeal, arguing that the union election process was improperly influenced. An appeal could delay enforcement of the order while the case moves through the courts.

Labor groups have welcomed the ruling as a major milestone, signaling growing momentum for unionization efforts within Amazon’s workforce, which the company has historically resisted.

The case also ties into a broader legal dispute, as Amazon has challenged the constitutionality of the NLRB itself in related proceedings.

Broadcom Names Alphabet Executive Amie Thuener as CFO

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Broadcom has appointed Amie Thuener as its next chief financial officer, effective June 12, replacing current CFO Kirsten Spears.

Thuener currently serves as vice president, corporate controller and chief accounting officer at Alphabet Inc.. She brings extensive experience in financial reporting, corporate governance and AI-related transactions, having also previously worked at PricewaterhouseCoopers.

Broadcom CEO Hock Tan highlighted Thuener’s background in managing complex global operations as a key factor in her appointment.

Outgoing CFO Kirsten Spears, who has held the role since 2020, will remain as an advisor for nine months to ensure a smooth transition. During her tenure, Broadcom completed major strategic moves, including the $69 billion acquisition of VMware.

Broadcom continues to expand its role in the artificial intelligence ecosystem, working with partners such as Google and OpenAI on custom chip development. The company recently projected its AI-related chip revenue could exceed $100 billion next year, driven by strong demand despite ongoing supply chain constraints.

SpaceX in Talks with Saudi Fund for $5B IPO Investment

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SpaceX is reportedly in discussions with Public Investment Fund (PIF) over a potential $5 billion anchor investment ahead of its anticipated initial public offering.

The investment would help secure a cornerstone position for PIF in the IPO while limiting dilution of its existing stake, which is currently just under 1%. The talks are part of SpaceX’s broader effort to line up major institutional investors before launching what could become one of the largest IPOs in history.

The company is targeting a fundraising total of around $75 billion, a scale that would surpass previous landmark listings such as Saudi Aramco and Alibaba.

Led by Elon Musk, SpaceX has been actively gauging investor demand as it prepares for its market debut later this year. Anchor investors are expected to play a key role in stabilizing the offering and signaling confidence to broader markets.

The potential deal would further deepen ties between Musk’s business ecosystem and Saudi Arabia’s investment arm, which has already committed significant capital to related AI and technology initiatives.

While discussions are ongoing, sources indicate that no final agreement has been reached and terms remain subject to change.