General Motors says it is pumping the brakes a little on its plans for electric vehicles and self-driving cars as new labor deals signed with unions in the US and Canada will cost it almost $9.3 billion US.
Despite those costs, the automaker says it plans to buy back up to $10 billion US of its own shares, while also increasing its dividend by 33 per cent.
The buyback was the equivalent at Tuesday’s closing price to nearly a quarter of GM’s common stock. Its shares were down about 14 per cent this year before rising 10 per cent to…