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☆ The US economy could get hit by a double whammy on September 30, if 2 major negotiations are not hammered out
  + stars: | 2024-09-20 | by ( Erin Snodgrass | ) www.businessinsider.com   time to read: +6 min
Read previewSeptember 30 could be a consequential day for the US economy if two major negotiations don't get hammered out in time. Congress must pass a stopgap spending bill by the last day of this month to avoid a partial government shutdown. September 30 is also the deadline for the International Longshoremen's Association and several East Coast and Gulf Coast ports to strike a contract. A government shutdownThe rejection of Johnson's plan on Wednesday ratcheted up tensions in Congress as the September 30 deadline draws ever nearer. This would pause the strike while negotiations continued.
Persons: —, there's, Mike Johnson, Johnson, There's, Donald Trump, Mitch McConnell, Joe Biden, Taft, Hartley Organizations: Service, International Longshoremen's Association, Business, GOP, United States Maritime Alliance, Street, White House, Washington Post, Street Journal, Social Security, Medicare, Congressional, Office, International Longshoremen's, Retail Industry, Association Locations: East Coast, Gulf Coast, Maine, Texas, West Coast, RILA
☆ Federal judge rejects $30 billion settlement between Visa, Mastercard and retailers
  + stars: | 2024-06-25 | by ( Elisabeth Buchwald | Parija Kavilanz | ) edition.cnn.com   time to read: +3 min
New York CNN —A federal judge overseeing a $30 billion preliminary swipe-fees settlement between Mastercard, Visa and retailers formally rejected the deal Tuesday. Mastercard and Visa, two of the world’s largest credit card networks, reached their proposed multi-billion antitrust settlement with US merchants in March. But a memo released by the court on Tuesday said that she was “not likely to grant final approval” to the preliminary settlement absent any changes. The proposed settlement would have lowered those fees by at least 0.04% percentage points for a minimum of three years. What the preliminary settlement entailedThe proposed settlement, which hinged on final approval from the Eastern District of New York, resulted from a longstanding antitrust class-action lawsuit in 2005.
Persons: Judge Margo Brodie, “, colluded, —, Christopher Jones, ”, ” Jones, Tuesday’s, Judge Brodie, RILA Organizations: New, New York CNN, Mastercard, Visa, Court, of, Merchants Payments Coalition, Main, Retail Industry, Association, Target, Dollar Locations: New York, Eastern, of New York
☆ Easy access to buyers on online marketplaces feeding the rise in retail theft: RILA CEO Brian Dodge
  + stars: | 2023-08-16 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEasy access to buyers on online marketplaces feeding the rise in retail theft: RILA CEO Brian DodgeHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.
Persons: Brian Dodge, Brian Sullivan, “ Organizations: CNBC
☆ US retailers push for deal in UPS-Teamster talks as deadline looms
  + stars: | 2023-07-19 | by ( Lisa Baertlein | Thomson Reuters | Lisa Baertlein Covers The Movement Of Goods Around The World | ) www.reuters.com   time to read: +2 min
The world's biggest package delivery firm and the International Brotherhood of Teamsters have until midnight on July 31 to reach a contract deal covering some 340,000 workers that sort, load and deliver packages in the United States. If a deal is not done by the deadline, UPS workers have vowed to strike. A 10-day strike could cost the U.S. economy more than $7 billion, according to a recent estimate from Anderson Economic Group. "A new Teamsters deal could drive cost per piece (about) 2% higher than current expectations," Susquehanna analyst Bascome Majors said in a client note this week. Reporting by Lisa Baertlein in Los Angeles Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.
Persons: Bascome Majors, Alfredo Ortiz, Bernie Marcus, we're, Ortiz, Lisa Baertlein, Chris Reese Organizations: Wednesday, United Parcel Service, Teamsters, International Brotherhood of Teamsters, UPS, Anderson Economic, Retail Industry, Association, Network, Home, Thomson Locations: ANGELES, U.S, United States, Susquehanna, Los Angeles
☆ U.S. House to vote to block rail strike despite labor objections
  + stars: | 2022-11-30 | by ( David Shepardson Lisa Baertlein | David Shepardson | Lisa Baertlein | ) www.reuters.com   time to read: +4 min
Pelosi said the House would vote separately on Wednesday on a proposal to give seven days of paid sick leave to railroad employees. There are no paid sick days under the tentative deal after unions asked for 15 and railroads settled on one personal day. "Guaranteeing 7 paid sick days to rail workers would cost the rail industry a grand total of $321 million a year – less than 2% of its profits," Sanders said. The railroads oppose giving their workers paid sick time because they would have to hire more staff. "I can’t in good conscience vote for a bill that doesn’t give rail workers the paid leave they deserve," Representative Jamaal Bowman, a Democrat, said on Twitter.
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