UAW strike looms, UBS mortgage settlement, PayPal CEO: Top Stories

President Biden speaks on the negotiations between the United Auto Workers union and the Big Three automakers, Ford (F), General Motors (GM), and Stellantis (STLA), calling for a "fair agreement" between the parties to avoid the UAW's strike. UBS (UBS) will pay $1.4 billion to settle a case stemming from the financial crisis, in which the Department of Justice alleges UBS defrauded investors by selling mortgaged-back securities that the company knew were problematic. PayPal (PYPL) names Intuit executive Alex Chriss as the company's new CEO, replacing current CEO Dan Schulman.