Afternoon Coffee: GM SUV Plant Faces Strike, Icertis Launches Sourcing Application

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General Motors has failed to reach an agreement with a Canadian union on a new contract, leading its members to strike, the Wall Street Journal reports. The work stoppage of 2,450 laborers could significantly squeeze supply of the automaker’s top-selling SUV.

Icertis Enters Sourcing

Contract management provider Icertis announced Monday it is launching a new application for sourcing, Icertis Contract Management (ICM) Sourcing, according to a press release. The company said the new offering “enables procurement departments to optimize the entire source-to-contract process, ensuring compliance, minimizing risk and improving collaboration in addition to increasing savings.”

Copper Prices

The copper rally could finally be coming to close. After weaker economic data on Chinese factory output last week, prices fell to their lowest level in a month Friday, the Wall Street Journal reports, closing down 0.3% at $2.9490 a pound.

Pound News 

And finally, a currency update: The British pound climbed above pre-Brexit levels Friday, NASDAQ reports, rising 3% against the dollar.