Striking GM workers at a powertrain plant in Bedford, Ind. Photo: Jeremy Hogan/SOPA Images/LightRocket via Getty Images

The United Auto Workers (UAW) strike against GM is now 24 days old, with the UAW's chief bargainer telling members Tuesday evening that job security remains a key sticking point.

Why it matters: The economic damage is spreading. In addition to the 49,000 striking workers, another 100,000 non-UAW employees at GM and its suppliers are out of work because there's nothing for them to do, according to Anderson Economic Group.

  • GM has lost an estimated $660 million in profits, AEG says, while state and local governments have lost an estimated $164 million in tax revenue.

Between the lines: In a message to rank-and-file members, UAW vice president Terry Dittes said bargainers have made no progress on the key issue of job security.

  • "We have made it clear that there is no job security for us when GM products are made in other countries for the purpose of selling them here in the U.S.A. We believe that the vehicles GM sells here should be built here."
  • "GM in recent months has defended its track record of U.S. plant investment and job creation, saying it has poured $23 billion into its American factories over the past decade,"the Wall Street Journal reported.
  • The UAW is also pressing GM to lock in more guaranteed wage increases during the next 4-year contact, while GM prefers lump-sum bonuses that don’t raise their long-term labor costs, per WSJ.

Go deeper... Buckle up: GM, Michigan and 2020

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Illustration: Aïda Amer/Axios

An Iranian cyber operations front organization that’s a target of new U.S. sanctions was itself the victim of an attack that looted its own hacking tools and dumped them on the internet two years ago.

Driving the news: Last week, amid increasing tensions between Washington and Tehran, the Treasury Department announced major new Iran-related sanctions targeting cyber operators working for Iranian intelligence. The sanctions targeted 45 individuals affiliated with Iran’s Ministry of Intelligence and Security (MOIS), Tehran’s main civilian intelligence agency.

FDA chief vows agency will not accept political pressure on coronavirus vaccine

Food and Drug Administration Commissioner Stephen Hahn promised that "science will guide our decision" for a coronavirus vaccine at a Senate hearing on Wednesday.

Why it matters: More Americans are expressing doubt about a first-generation vaccine, despite President Trump's efforts to push an unrealistic timeline that conflicts with medical experts in his administration.

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Data: Business Roundtable; Chart: Naema Ahmed/Axios

A closely-watched CEO economic confidence index rose for the first time after declining for nine straight quarters, according to a survey of 150 chief executives of the biggest U.S. companies by trade group Business Roundtable.

Why it matters: The index, which still remains at a decade low, reflects corporate America's expectations for sales, hiring and spending — which plummeted amid uncertainty when the pandemic hit.

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