DIRS.INFO The most relevant business & tech news

☆ Boeing's labor strike is so bad that the US Labor Secretary just flew to Seattle to help
▼ + stars: | 2024-10-15 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +4 min

Julie Su is in Seattle to mediate Boeing worker strike to resume negotiations. Boeing's strike began after workers rejected a 25% pay raise, demanding 40% and other benefits instead. AdvertisementBoeing's worker strike appears to be in such a stalemate that the US's top labor official flew to Seattle to mediate. In separate Monday meetings, Acting Secretary of Labor Julie Su urged both parties to move forward, the labor union for aerospace workers said in a statement. Su mediated a 75,000-person healthcare worker strike against Kaiser Permanente in October 2023.

Persons: Julie Su, Boeing's, —, Labor Julie Su, Su, Biden, Boeing Machinists Organizations: Boeing, Service, Labor, Anderson Economic Group, Reuters, Labour Union, International Association of Machinists, Aerospace Workers, Kaiser Permanente, United, Alaska Air, Emirates, RyanAir Locations: Seattle, Union, Gulf Coast, United Airlines

☆ Samsung Electronics' union threatens first ever walkout next week
▼ + stars: | 2024-05-29 | by ( ) www.cnbc.com time to read: +4 min

A Samsung Electronics union in South Korea will begin escalating strike action next week by staging the first ever walkout over demands for higher wages, union officials said on Wednesday. The National Samsung Electronics Union (NSEU), which has about 28,000 members, or more than a fifth of the company's total workforce, said it will stop work for one day on June 7 as part of broader protest measures. Samsung Electronics said in a statement on Wednesday: "We will sincerely engage in discussions with the union." Responding to Wednesday's proposed strike, a coalition of five unions at Samsung affiliates including another Samsung Electronics union questioned the intention behind the strike plan, indicating they would not join the move. Shares of Samsung Electronics closed down 3.1% on Wednesday, compared with the benchmark KOSPI's 1.7% fall.

Persons: Son Woo, mok, NSEU, Wednesday's, Jay Y, Lee Organizations: Samsung, Samsung Electronics, National Samsung Electronics Union, South, Workers Locations: Seoul, South Korea, Hwaseong

☆ Japan Airlines Crash: Air Traffic Controllers Call for 'Significant' Staff Increase
▼ + stars: | 2024-02-06 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +2 min

TOKYO (Reuters) - A labour union representing air traffic controllers in Japan has called for a "significant increase" in staff to improve the safety of operations at airports in the wake of a deadly crash at Tokyo's Haneda airport last month. "We strongly urge the realisation of a significant increase in the number of air traffic controllers," Masato Yamazaki said in the statement, adding that speculation about the cause of the crash risked putting mental strains on controllers. He said repeated staffing requests to the government, which directly employs air traffic controllers in Japan, have been only partially approved in recent years despite increased workload on controllers. Other countries including the United States and France are grappling with air traffic control staff shortages that airlines have argued pose risks to aviation safety. In 2019, each air traffic control operator in Japan handled nearly 7000 flights, up from around 4,600 in 2004, according to the ministry's records.

Persons: Masato Yamazaki, Yamazaki, Nobuhiro Kubo, John Geddie, Jamie Freed Organizations: Japan Airlines, JAL, Coast Guard, Airbus, Authorities Locations: TOKYO, Japan, Haneda, United States, France

☆ Germany's Airport Security Staff to Ground Flights in Nationwide Protests
▼ + stars: | 2024-02-01 | by ( Feb. | At A.M. | ) www.usnews.com time to read: +1 min

BERLIN (Reuters) - Security staff at some of Germany's biggest airports, including the global hub Frankfurt, walked off the job on Thursday, grounding flights and piling pain on Europe's largest economy. The 24-hour strike, called by labour union Verdi, is the latest in a series of industrial actions that has paralysed the country's transportation sector in recent weeks. Almost 200,000 travellers will be affected by over 1,100 flight cancellations or delays, the German airports association ADV estimated on Wednesday as some of Germany's biggest airports including Frankfurt, Berlin, Hamburg and Stuttgart said there would be no departures for passengers. Last week, German train drivers had staged their longest railway strike to date following a week-long nationwide protest by German farmers who had blocked the country's roads. On Friday, industrial action is expected to bring public transport to a halt in every federal state except Bavaria.

Persons: Verdi, Ralph Beisel, Wolfgang Pieper, Nette Nöstlinger, Klaus Lauer Organizations: BERLIN, Security, ADV Locations: Frankfurt, Berlin, Hamburg, Stuttgart, Germany, Bavaria

☆ A nationwide strike in Argentina poses major test to Milei’s economic ‘shock therapy’
▼ + stars: | 2024-01-24 | by ( Sam Meredith | ) www.cnbc.com time to read: +2 min

Argentina's largest labor union grouping on Wednesday is expected to hold a nationwide general strike to protest President Javier Milei's shock economic agenda. The strike represents a significant test for Milei, who has announced sweeping measures to deregulate Latin America's third-largest economy. "The general strike is more of a political test for the labour unions than for Milei," Jimena Blanco, head of Americas at risk consultancy Verisk Maplecroft, told CNBC via email. "Regardless of attendance, the strike caters to the unions' own support base and, at this stage, is not representative of wider social sentiment. However, it has the potential to grow in the future as the impacts of the economic shock plan become palpable."

Persons: Javier Milei, Javier Milei's, del Trabajo, Jimena Blanco, Verisk Maplecroft Organizations: Economic, Analysts, CNBC Locations: Davos, Switzerland, Argentina, Americas

☆ Danish dockworkers join Swedish strike action against Tesla
▼ + stars: | 2023-12-05 | by ( ) www.reuters.com time to read: +1 min

A view shows the ship Malacca Highway at shore as port workers are blocking the loading of Tesla vehicles, in Malmo, Sweden, November 7, 2023. Johan Nilsson/TT News Agency/via REUTERS/File Photo Acquire Licensing RightsHELSINKI, Dec 5 (Reuters) - Denmark's 3F labour union said on Tuesday it will support Swedish mechanics in their strike action against Tesla (TSLA.O), and will refuse to unload or transport cars made by the U.S. auto company for customers in Sweden. "Like the companies, the trade union movement is global in the fight to protect workers," 3F Chair Jan Villadsen said in a statement, adding that Sweden's IF Metall union had asked 3F to help. The strike by Danish dockworkers and lorry drivers only affects cars that are meant for the Swedish market, the union said. Swedish labour groups have been taking industrial action against Tesla since October in a bid to force the car manufacturer to sign collective bargaining agreements with mechanics.

Persons: Johan Nilsson, Jan Villadsen, Tesla, Essi Lehto, Terje Solsvik Organizations: TT, Agency, Rights, U.S, IF Metall, Thomson Locations: Malacca, Malmo, Sweden, Swedish, Danish

☆ Gucci employees in Rome go on strike over creative office move
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +1 min

A Gucci sign is seen outside a shop in Rome, April 20, 2023. REUTERS/Remo Casilli/File Photo Acquire Licensing RightsMILAN, Nov 27 (Reuters) - A few dozen employees at fashion house Gucci in Rome went on strike on Monday against the company's decision to move its design office from the Italian capital to Milan. Labour union CGIL's regional office said Gucci's decision was not supported by objective reasons, making hard not to think the real goal was to cut staff. The transfer "does not involve any staff reductions", a spokesperson for Gucci told Reuters. Following the departure of creative director Alessandro Michele in 2022, Gucci owner Kering (PRTP.PA) changed the label's top management, as it seeks to reignite sales momentum at its largest brand.

Persons: Remo Casilli, Gucci, Alessandro Michele, Kering, Elisa Anzolin, Mark Potter Organizations: REUTERS, Labour, CGIL's, Reuters, Thomson Locations: Rome, Milan

The logo of commodities trader Glencore is pictured in front of the company's headquarters in Baar, Switzerland, July 18, 2017. REUTERS/Arnd Wiegmann/File Photo Acquire Licensing RightsROME, Nov 23 (Reuters) - Glencore (GLEN.L) has decided to build a pilot project for an electric vehicle (EV) battery recycling plant outside of Italy, but still has its eye on the island of Sardinia for a larger facility, the Swiss mining group said on Thursday. "This development does not immediately impact the feasibility assessment of the larger hub project," Glencore said in an emailed statement. This initiative is important for our recycling strategy and aligns with Italy's objectives for sustainable industry development," the group added. Last month, Reuters reported that documents filed by Glencore as part of the environmental impact assessment procedure had been judged insufficient by Sardinia's regional administration.

Persons: Arnd, Glencore, Li, Francesca Landini, Jan Harvey, Keith Weir Organizations: REUTERS, Rights, UIL, Reuters, Thomson Locations: Baar, Switzerland, Italy, Sardinia, Swiss, Portovesme, Europe, North America, CISL, Sardinian

The logo of commodities trader Glencore is pictured in front of the company's headquarters in Baar, Switzerland, July 18, 2017. REUTERS/Arnd Wiegmann/File Photo Acquire Licensing RightsROME, Nov 23 (Reuters) - Glencore (GLEN.L) has decided to build a pilot project for an electric vehicle (EV) battery recycling plant outside of Italy, but still has its eye on the island of Sardinia for a larger facility, the Swiss mining group said on Thursday. "This development does not immediately impact the feasibility assessment of the larger hub project," Glencore said in an emailed statement. This initiative is important for our recycling strategy and aligns with Italy's objectives for sustainable industry development," the group added. The Swiss group did not specify where it would build the pilot plant.

Persons: Arnd, Glencore, Li, Francesca Landini, Jan Harvey, Keith Weir Organizations: REUTERS, Rights, Union, Hub, Reuters, UIL, Thomson Locations: Baar, Switzerland, Italy, Sardinia, Swiss, Portovesme, Europe, North America, Sardinian, CISL

Snowballs of Paris 2024 Olympics and a miniature of the Eiffel Tower are displayed at the official store during the Paralympic Day at Place de la Republique, Paris, France October 8, 2023. "If we don't have commitments at the beginning of 2024, then in January, February, March, April, we will take action," CGT union representative Celine Verzeletti told Reuters. The French government and the Paris 2024 organising committee did not immediately reply to a Reuters request for comment. France's Alliance police union this week gave the government a Dec. 31 deadline to respond to its demands. State-owned transport operator RATP has also started talks with workers, offering daily extra payments of 15 euros, according to French media reports.

Persons: Sarah Meyssonnier, Celine Verzeletti, Stanislas Guerini, Verzeletti, Emmanuel Macron's, David Leyraud, Tassilo Hummel, Toby Davis Organizations: Eiffel, Republique, REUTERS, Rights, CGT, Reuters, Labour, Games, Paris, France's Alliance police, Alliance, France, HP, State, Thomson Locations: Paris, France

☆ Canadian union Unifor, Magna resume bargaining after strike at seating plant
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +1 min

Magna logo is during Munich Auto Show, IAA Mobility 2021 in Munich, Germany, September 8, 2021. REUTERS/Wolfgang Rattay Acquire Licensing RightsNov 9 (Reuters) - Canadian labour union Unifor said on Thursday it has returned to the bargaining table with Magna International (MG.TO) after workers staged a walkout at the auto parts supplier's Integram seat manufacturing facility in Windsor. Unifor members at the facility had launched a strike on Wednesday after Magna was unable to reach a tentative deal before the strike deadline of Nov. 7. Magna's Integram plant manufactures seating for vehicles at Stellantis' (STLAM.MI) Windsor assembly plant as well as other Detroit Three plants in the United States. Unifor members at the Integram facility had previously voted 99% in favour of strike action.

Persons: Wolfgang Rattay, Unifor, Aishwarya Jain, Shounak Dasgupta Organizations: Munich, REUTERS, Magna International, Magna, Thomson Locations: Munich, Germany, Windsor, Detroit, United States, Bengaluru

☆ South Korea Metro Workers Launch Strike; Disruption Limited
▼ + stars: | 2023-11-08 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +2 min

By Hyonhee ShinSEOUL (Reuters) - More than 10,000 unionised South Korean metro workers launched a two-day strike on Thursday in protest against the subway operator's push for job cuts to stem snowballing debt, causing disruptions for some commuters in the greater Seoul area. The strike came hours after negotiations between Seoul Metro and its two major unions fell apart due to differences over the operator's plan to scale back its workforce by some 13%, or more than 2,200, by 2026. Seoul's metro operators have grappled for years with debt, partly from free rides for senior citizens, as Asia's fourth-largest economy faces a rapidly aging population and surging welfare costs. But city authorities warned of some delays in the evening, and pledged to mobilise emergency trains, buses and substitute workers. Lee called for efforts to curb the metro operator's debt, which topped 1.7 trillion won ($1.3 billion) last year.

Persons: Shin, Lee Jung, sik, Lee, 1,307.2600, Hyonhee Shin, Stephen Coates Organizations: Korean, Seoul Metro, Employment, Labour, Facebook Locations: Shin SEOUL, Seoul, Seoul's

☆ Britain scraps cap on banker bonuses inherited from EU
▼ + stars: | 2023-10-24 | by ( Huw Jones | ) www.reuters.com time to read: +4 min

A general view of the Bank of England in the City of London, Britain, September 25, 2023. REUTERS/Hollie Adams/File Photo Acquire Licensing RightsLONDON, Oct 24 (Reuters) - Britain on Tuesday scrapped a decade-old cap on banker bonuses inherited from the European Union, signalling a clear divergence in post-Brexit financial rules from the 27-country bloc it left in 2020. The BoE and Financial Conduct Authority proposed scrapping the cap in a public consultation earlier this year, and its abolition was confirmed in final policy published on Tuesday. The TUC confederation of labour unions said the decision to scrap the bonus cap was "obscene". Law firm Linklaters said scrapping the cap puts Britain back into line with the rest of the world, apart from the EU, but it would continue to apply to staff working at EU banks in London who are regulated under the bloc's rules.

Persons: Hollie Adams, BoE, Suzanne Horne, Paul Hastings, Paul Nowak, Linklaters, David Milliken, Iain Withers, Barbara Lewis, Mark Potter, Jonathan Oatis Organizations: Bank of England, City of, REUTERS, European Union, Financial, Authority, London, Finance, TUC, Britain, Thomson Locations: City, City of London, Britain, EU, London, New York, United States, Asia

☆ Thousands gather in Paris for first authorised pro-Palestinian demo since Oct. 7 Hamas attacks
▼ + stars: | 2023-10-22 | by ( ) www.reuters.com time to read: +2 min

[1/5] French labour unions and organisations call for peace and an immediate ceasefire in Gaza during a demonstration at Place de la Republique in Paris, France, October 22, 2023. REUTERS/Benoit Tessier Acquire Licensing RightsPARIS, Oct 22 (Reuters) - Thousands of people waving Palestinian flags and chanting "Gaza, Paris is with you" gathered on Sunday for the first pro-Palestinian demonstration allowed by police in the French capital since the Oct. 7 Hamas attacks on Israel. Police said that the protest was authorised, unlike others, because the declaration by organisers condemned the Oct. 7 attacks on Israel, which killed 1,400 people. On Thursday, a protest was authorised at the last minute only after a Paris court overturned the police decision to ban it, and in the last few days, other protests have been authorised in cities across France. Reporting by Layli Foroudi; Editing by Nick MacfieOur Standards: The Thomson Reuters Trust Principles.

Persons: Benoit Tessier, Catherine Colonna, Israel, Layli Foroudi, Nick Macfie Organizations: la Republique, REUTERS, Rights, Republique, Police, France Palestine Solidarity, French, Thomson Locations: Gaza, la, Paris, France, Israel, Cairo

☆ Nigeria's Tinubu offers wage increase ahead of labour strike
▼ + stars: | 2023-10-01 | by ( Felix Onuah | ) www.reuters.com time to read: +2 min

Bola Tinubu, President of Nigeria, arrives for the closing session of the New Global Financial Pact Summit, Friday, June 23, 2023 in Paris, France. Tinubu scrapped a decades-old subsidy during his inauguration in May and ended foreign exchange restrictions, which has led to soaring cost of living and angered unions. In a national broadcast marking 63 years of independence, Tinubu defended the reforms as necessary to put Africa's biggest economy on the path to recovery. That would take the minimum wage in Nigeria to 55,000 naira ($71) from 30,000 naira. But labour unions want Tinubu to reinstate the fuel subsidy and had previously demanded a minimum wage of 200,000 naira.

Persons: Bola Tinubu, Lewis Joly, Tinubu, Tinubu's, Felix Onuah, MacDonald Dzirutwe, Daniel Wallis Organizations: New Global Financial, Rights, Sunday, Thomson Locations: Nigeria, Paris, France, Rights ABUJA

[1/5] Apple France workers on strike holding CGT labour union flags gather in front of the Apple Store near Place de l'Opera during a protest to demand higher pay and better benefits on the day Apple launches its iPhone 15, in Paris, France, September 22, 2023. REUTERS/Abdul Saboor Acquire Licensing RightsPARIS, Sept 22 (Reuters) - Workers at Apple (AAPL.O) stores in France began a nationwide strike over pay and working conditions on Friday in a protest designed to coincide with the launch of the iPhone 15. Staff at an Apple store in Barcelona, where about 250 people were queuing to enter the store on Friday morning, were set to join colleagues in France in protesting. "We have been talking since August to our colleagues on strike in France. In Spain, unlike them, not all the unions have agreed to strike," Paredes said.

Persons: Abdul Saboor, Anais Durel, Tarek, Pablo Paredes, Paredes, Manuel Ausloos, Louise Dalmasso, Horaci Garcia, Corina Pons, Charlottte Van Campenhout, Charlie Devereux, Sharon Singleton Organizations: Apple, REUTERS, Rights, Workers, CGT, Unsa, CFTC, Management, Staff, Paseo de, CNT Apple, Reuters, Thomson Locations: Apple France, Paris, France, Opera, Barcelona, Paseo, Paseo de Gracia, Spain, Madrid

☆ Thousands of Greeks rally as state workers strike over labour law plans
▼ + stars: | 2023-09-21 | by ( Renee Maltezou | ) www.reuters.com time to read: +3 min

The one-day nationwide strike called by Greece's largest public sector union ADEDY is the first walkout since the Mitsotakis government's re-election for a second term. The protesters marched to parliament, where lawmakers were debating the planned changes, which are expected to be passed this week. It also enables employers to implement a six-day working week. Employers face a fine up to 10,500 euros ($11,175) if they fail to declare an employee's extension of working hours or change of shifts. The bill also introduces fines and a six-month jail term against those who obstruct employees from working during a strike.

Persons: Louisa Gouliamaki, Kyriakos Mitsotakis, Lambrini Christoyanni, Renee Maltezou, Andrew Cawthorne, Barbara Lewis Organizations: REUTERS, Rights, Employers, Greece's Communist Party KKE, Thomson Locations: Athens, Greece

☆ Nigerian election tribunal to decide if Tinubu stays as president
▼ + stars: | 2023-09-06 | by ( Camillus Eboh | ) www.reuters.com time to read: +2 min

Bola Tinubu, President of Nigeria, arrives for the closing session of the New Global Financial Pact Summit, Friday, June 23, 2023 in Paris, France. Lewis Joly/Pool via REUTERS Acquire Licensing RightsABUJA, Sept 6 (Reuters) - Nigeria's presidential election tribunal is due to rule on Wednesday on whether Bola Tinubu should stay as president after two rivals challenged his victory in February's disputed vote. There have been numerous legal challenges to the outcome of previous Nigerian presidential elections but none have succeeded. The tribunal, which will deliver its ruling in the capital Abuja, has the power to cancel an election and order a fresh one, among other remedies. Tinubu, who is in India ahead of a G20 Summit, has defended his victory and says he is focused on reviving the economy.

Persons: Bola Tinubu, Lewis Joly, Bola, February's, Atiku Abubakar, Peter Obi, Atiku, Obi, Muhammadu Buhari, MacDonald Dzirutwe, Alison Williams Organizations: New Global Financial, REUTERS Acquire, Rights, Tinubu's, People's Democratic Party, Labour, Thomson Locations: Nigeria, Paris, France, Rights ABUJA, Abuja, India

☆ Seven & i department store unit union to announce strike - NHK
▼ + stars: | 2023-08-28 | by ( ) www.reuters.com time to read: 1 min

The logo of Seven & I Holdings is seen at its headquarters in Tokyo, Japan December 6, 2017. REUTERS/Toru Hanai/File Photo Acquire Licensing RightsTOKYO, Aug 28 (Reuters) - A labour union of Seven & i Holdings (3382.T) department store subsidiary Sogo & Seibu will notify management that it plans to strike in opposition to a planned sale of the unit, public broadcaster NHK reported on Monday. Japan-based Seven & i, operator of the world's largest convenience store chain, agreed last year to sell Sogo & Seibu to U.S. fund Fortress Investment Group. But the deal has been delayed amid opposition from workers, and company management cancelled a meeting for Friday last week where it was to decide on the sale, Kyodo had reported. Reporting by Rocky Swift Editing by Chang-Ran KimOur Standards: The Thomson Reuters Trust Principles.

Persons: Toru Hanai, Rocky Swift, Chang, Ran Kim Organizations: Holdings, REUTERS, Rights, Seibu, NHK, Fortress Investment, Kyodo, Thomson Locations: Tokyo, Japan, U.S

A general view shows a special ship, "Neptune", the floating liquefied natural gas terminal, during the inauguration of the Liquefied Natural Gas (LNG) terminal 'Deutsche Ostsee' in the port of Lubmin, Germany January 14, 2023. REUTERS/Annegret Hilse/File PhotoLAUNCESTON, Australia, Aug 14 (Reuters) - The comfort that had characterised natural gas markets in Asia and Europe in recent months was shown to be a mere illusion by the threat of strike action at three major Australian liquefied natural gas (LNG) plants. Benchmark Dutch natural gas prices jumped 28.3% from the close on Aug. 8 to the finish on Aug. 10 as reports of the looming strike action spooked the market. Woodside and Chevron are engaging in talks with labour unions at the LNG facilities, and it's not yet clear what form any strike action would take, assuming no agreement can be reached. Europe's LNG imports in contrast have been trending lower as the continent's natural gas storages remained elevated and demand shifts structurally lower as countries move to reduce reliance on fossil fuels.

Persons: Annegret, Tom Hogue Organizations: REUTERS, Woodside Energy, Chevron, West Shelf, Benchmark, South Korea, China, Reuters, Thomson Locations: Lubmin, Germany, LAUNCESTON, Australia, Asia, Europe, Western Australia, North Asia, Woodside, Chevron, Ukraine, Japan, South Korea, Qatar, United States

☆ Nigeria turns to natural gas for fuel as petrol prices rise after subsidy removal
▼ + stars: | 2023-08-03 | by ( Macdonald Dzirutwe | ) www.reuters.com time to read: +2 min

REUTERS/Afolabi Sotunde/File PhotoLAGOS, Aug 3 (Reuters) - Nigeria is turning to gas as an alternative fuel after it scrapped a popular but costly subsidy on petrol that has seen pump prices rise sharply, angering motorists and businesses that use petrol to generate their own power. State-oil firm NNPC said late on Thursday it has partnered with NIPCO Gas to speed up the adoption of compressed natural gas for buses, cars and tricycles to lower transportation costs. Under the NNPC-NIPCO deal, 35 compressed natural gas stations will be rolled out in phases to be completed next year and will be able to serve more than 200,000 vehicles daily. NIPCO already operates 14 compressed natural gas stations, NNPC said, and that the local firm has turned more than 7,000 vehicles to gas, it said. Last month, NNPC signed an agreement with UTM Offshore for the local company to construct a 1.5 metric tonnes per annum floating liquefied natural gas plant.

Persons: Afolabi, NNPC, Bola Tinubu, Tinubu, MacDonald Dzirutwe, Chijioke, Grant McCool Organizations: REUTERS, NIPCO Gas, Offshore, Thomson Locations: Abuja, Nigeria, LAGOS, State, Africa's

☆ Nigeria's labour unions suspend strike after meeting president
▼ + stars: | 2023-08-02 | by ( Felix Onuah | ) www.reuters.com time to read: +2 min

ABUJA, Aug 2 (Reuters) - Nigeria's main labour federation has agreed to return to talks with the government following a meeting with President Bola Tinubu on Wednesday, union leaders said, on a day when hundreds of Nigerians marched against the removal of a petrol subsidy. The Nigeria Labour Congress (NLC) said the marches across major Nigerian cities were successful enough to force Tinubu to meet union leaders and vow to expedite an agreement on a new minimum wage among other promises. [1/2]Members of the Nigerian Labour Union, holding flags and placards, march during a protest against fuel price hikes and rising costs, in Abuja, Nigeria August 2, 2023. REUTERS/Abraham AchirgaLed by union leaders, protesters carrying placards marched in Lagos, the oil-producing state of Bayelsa and in the northern cities of Kano and Kaduna. In the capital Abuja, marchers broke down a gate to the National Assembly, expecting to be addressed by the Senate president, witnesses said.

Persons: Bola Tinubu, Tinubu, Tinubu's, Dele Alake, Abraham Achirga Led, Elisha Bala, MacDonald Dzirutwe, Tife, Hamza Ibrahim, Garba Muhammad, Tomasz Janowski, Giles Elgood, Sandra Maler Organizations: Nigeria Labour Congress, Nigerian Labour Union, REUTERS, NLC, National Assembly, Thomson Locations: ABUJA, Nigeria, Abuja, Lagos, Bayelsa, Kano, Kaduna, Gbogbo, Yenagoa

☆ Japan set for largest ever minimum wage hike after panel proposal
▼ + stars: | 2023-07-28 | by ( ) www.reuters.com time to read: +1 min

TOKYO, July 28 (Reuters) - A Japanese government panel recommended on Friday that the national average minimum wage be raised by 41 yen ($0.29) an hour to 1,002 yen, the biggest hike ever in value terms, as Prime Minister Fumio Kishida makes wages a key focus of his policies. The health ministry panel's annual recommendation serves as the nationwide standard for minimum wages. Kishida and the Bank of Japan are hoping that wage hikes can be sustained so that they generate more consumer spending that decisively lifts the world's third-largest economy out of decades of stagnation. Minimum wages are set by the government, while in the annual round of spring wage negotiations, corporate management and labour unions negotiate directly over salaries. Japan's largest labour organisation, Rengo, said this month that major companies had agreed to average pay hikes of 3.58% this year, the highest level in three decades.

Persons: Fumio Kishida, Kishida, I've, Kiyoshi Takenaka, Hugh Lawson Organizations: Bank of Japan, Thomson Locations: TOKYO

It was a paid ad by a group of high-tech companies protesting against Netanyahu's judicial policies, which analysts say have unleashed a slew of risks, both for Israel's economy and for his own political future. Israel's shekel moved on every twist and turn in parliament as efforts to reach a judicial compromise intensified and finally crashed. For now, Israel's economy is relatively robust, with growth forecast at 3% this year and unemployment at a 3.5% rate. Even if Netanyahu chooses to scrap plans for further judicial changes, damage will be hard to fix. The tech sector has a lot to lose if more controversial judicial changes come because firms need a trusted legal system to protect their intellectual property.

Persons: Netanyahu, Moody's, Benjamin Netanyahu, Israel's shekel, Morgan Stanley, Itzchak Raz, Netanyahu's, They're, Raz, Avi Hasson, Nicholas Farr, Amir Yaron, Amotz Asa, Asa, Shalom Hartman, Maayan Lubell, William Maclean Organizations: Government, Hebrew University, Israel Innovation Authority, Nation Central, Capital Economics, Analysts, Bank, Thomson Locations: JERUSALEM, Israel, Jerusalem

☆ Israeli financial markets slide after judicial overhaul vote
▼ + stars: | 2023-07-24 | by ( Steven Scheer | ) www.reuters.com time to read: +3 min

JERUSALEM, July 24 (Reuters) - Israeli financial markets tumbled on Monday, with the shekel hitting a two-week low versus the dollar, after lawmakers ratified the first bill of a judicial overhaul sought by Prime Minister Benjamin Netanyahu. In protest at the vote, a forum of some 150 of Israel's largest companies held a strike on Monday. Azrieli (AZRG.TA) and Big (BIG.TA), two of Israel's largest malls, said stores in their shopping centres would be closed. But news that compromise talks collapsed erased early gains and sent the shekel weaker, with losses deepening after the vote. The shekel has weakened some 10% versus the dollar since late January when the government unveiled its controversial judicial overhaul plan, setting off mass protests and harming foreign inflows.

Persons: Benjamin Netanyahu, Nir Elias, Arnon Bar, Netanyahu, Steven Scheer, Bansari Mayur, Karin Strohecker, James Mackenzie, Christina Fincher, Sharon Singleton Organizations: REUTERS, Bank of Israel, MPC, Supreme, Thomson Locations: Tel Aviv, Washington

Search resuls for: "Labour Union"

25 mentions found