Cheddar Afternoon News Briefings of September 11th 2023

News Briefings

This is your daily news briefing from Cheddar. More than 140,000 auto workers are expected to strike this week. If the country's three unionized automakers fail to meet demands, the strike would affect workers at General Motors Ford and statis union contracts with the three companies are set to expire at 11 59 pm. On Thursday, Instacart released an updated filing for its initial public offering says it's aiming for a price of 26 to $28 a share. The grocery delivery service will be 22 million shares. It's looking to net over $600 million in fresh capital to bring it to a total valuation of $9.3 billion. Smucker has made a deal to buy hostess brands, the maker of popular snack foods including Twinkies for $5.6 billion. Smucker will also take on hostess brands $900 million of debt. The deal is expected to close in January of 2024 and last year China news update I do in New York.