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☆ TUC leader: Sunak is 'stretching credibility' in claiming credit for falling inflation
▼ + stars: | 2023-11-22 | 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 EmailTUC leader: Sunak is 'stretching credibility' in claiming credit for falling inflationPaul Nowak, general secretary of the Trades Union Congress, says U.K. Prime Minister Rishi Sunak is "stretching credibility" in claiming credit for falling inflation.

Persons: Sunak, Paul Nowak, Rishi Sunak Organizations: TUC, Trades Union Congress

☆ Elon Musk is coming to the UK's big AI safety party. Some people actually building AI say they got frozen out.
▼ + stars: | 2023-11-01 | by ( Tom Carter | ) www.businessinsider.com time to read: +5 min

The UK's AI summit is underway. Some AI experts and startups say they've been frozen out in favor of bigger tech companies. They warn that the "closed door" event risks ensuring that AI is dominated by select companies. The UK's AI summit aims to bring together AI experts, tech bosses, and world leaders to discuss the risks of AI and find ways to regulate the new technology. "It is far from certain whether the AI summit will have any lasting impact," Ekaterina Almasque, a general partner at European venture capital firm OpenOcean, which invests in AI, told Insider.

Persons: Elon Musk, Sam Altman, —, OpenAI's Sam Altman, Brad Smith, Kamala Harris, Iris Ai, Victor Botev, Yann LeCun, Rishi Sunak, Ekaterina Almasque, Almasque, Goldman Sachs Organizations: Service, OpenAI's, Microsoft, Twitter, UK, Big Tech, UK government's Department for Science, Innovation, Technology, UK's Trades Union Congress, American Federation of Labor, Industrial Organizations, Summit Locations: OpenOcean

☆ Britain's Labour party would repeal strike laws in first 100 days in power
▼ + stars: | 2023-09-12 | by ( ) www.reuters.com time to read: +1 min

LONDON, Sept 12 (Reuters) - Britain's opposition Labour Party would repeal recently-introduced legislation that limits workers' rights to strike if it wins an election expected next year, deputy leader Angela Rayner said on Tuesday, pledging to enhance employee protection. Labour's deputy leader Angela Rayner said the new legislation was a "spiteful and bitter attack" on trade unions. "The next Labour Government will ask Parliament to repeal these anti-trade union laws within our first 100 days," she said in a speech at the Trades Union Congress (TUC) annual conference in Liverpool. She said that Labour would also bring forward an Employment Rights Bill in its first 100 days in office. Labour has said that such a bill will legislate for fairer pay, strengthen rights and protections for workers and bolster trade unions' rights.

Persons: Angela Rayner, Alistair Smout, William James Our Organizations: Labour Party, Conservative, Labour Government, Trades Union Congress, TUC, Labour, Thomson Locations: Liverpool

☆ Will AI be an economic blessing or curse? History offers clues
▼ + stars: | 2023-08-07 | by ( Mark John | ) www.reuters.com time to read: +6 min

Backers of AI predict a productivity leap that will generate wealth and improve living standards. The productivity gains it was once lauded for have slowed across many economies. In a globalised economy, there are other reasons to doubt whether the potential gains of AI will be felt evenly. That is just one of several factors that will help determine how AI shapes our economic lives - from antitrust policies that ensure healthy competition among AI suppliers through to re-training of workforces. "The question is: will AI exacerbate existing inequalities or could it actually help us get back to something much fairer?"

Persons: Richard Erkhov, Yiannis, Simon Johnson, Johnson, Daron Acemoglu, jenny, Natixis, Stefano Scarpetta, MIT's Johnson, Mary Towers, Eva Mathews, Mark John, Catherine Evans Organizations: REUTERS, MIT Sloan School of Management, McKinsey, Hollywood, Reuters, Labour, Social Affairs, Economic Cooperation, Development, UN, POWER, Britain's Trades Union, OECD, Thomson Locations: Pascal, Nicosia, Cyprus, U.S, American, Paris, Bengaluru

ACCRA, June 1 (Reuters) - Ghanaian labour unions have asked the government for time to assess a proposal presented on Thursday to restructure pension funds worth around 30 billion Ghanaian cedis ($2.7 billion). The majority of eligible holders of Ghana's local bonds participated in a domestic debt exchange in February. The pension funds were exempted after unions threatened to strike, but have now been offered their own deal. Thomas Kwesi Esso, executive secretary of the lobby group for the pension funds, told Reuters that the offer was an improvement and addresses liquidity concerns with the old bonds. Editing by Alessandra Prentice, Rachel Savage and Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

Persons: Abraham Koomson, ”, Thomas Kwesi, ” Anthony Yaw Baah, Alessandra Prentice, Rachel Savage, Leslie Adler Organizations: International Monetary Fund, Finance Ministry, Reuters, International Monetary, Thomson Locations: ACCRA

☆ Britain's early retired resist calls to work, despite higher living costs
▼ + stars: | 2023-03-09 | by ( David Milliken | ) www.reuters.com time to read: +8 min

The exodus of older workers has no equivalent in other advanced economies. "The best part of 90% of people who say they are early retired ... say that they will probably or definitely never work again." Based on data from before the pandemic, Britain's Resolution Foundation found the richest fifth of 50-59 year olds were 10 times likelier to retire early than the bottom fifth. Other companies say they value older workers for their experience. "Older workers are the ones that have got the skills - we don't find young people with the skills that we need.

REUTERS/Toby MelvilleLONDON, Feb 27 (Reuters) - British energy regulator Ofgem on Monday lowered its price cap on household energy bills from April, but it will offer little relief to consumers as costs continue to rise. The cap sets a maximum price suppliers can charge consumers for each kilowatt hour (kWh) of energy they use, but it has been superseded by a government-backed energy price guarantee (EPG) that limits the maximum costs of energy. "Although wholesale prices have fallen, the price cap has not yet fallen below the planned level of the Energy Price Guarantee. If wholesale prices continue to fall, the price cap could be lowered again in July, potentially reducing bills, the regulator said. British Gas owner Centrica (CNA.L) this month posted record annual profit of 3.3 billion pounds on soaring energy prices and production.

☆ Britain hit by biggest day of strikes in a decade as pay disputes escalate
▼ + stars: | 2023-02-01 | by ( Hanna Ziady | ) edition.cnn.com time to read: +5 min

The bill would require basic service levels to be maintained in the fire, ambulance and rail sectors in the event of walkouts. Strikes will affect around 23,400 schools, about 85%, in England and Wales, with many closed fully or partially. According to the union, pay for experienced teachers has declined by 23% since 2010 once inflation is taken into account. In a sign that industrial unrest could escalate further, UK firefighters have voted to strike for the first time since 2003. The Fire Brigades Union has given the government until February 9 to make an improved pay offer.

☆ UK set for biggest strike action in years as teachers, civil servants walk out
▼ + stars: | 2023-02-01 | by ( Michael Holden | ) www.reuters.com time to read: +4 min

On Wednesday, about 300,000 teachers will take action, along with 100,000 civil servants from more than 120 government departments, and tens of thousands of university lecturers and rail workers. 'MOST DAYS LOST FOR 30 YEARS'Between June and November, more days were lost to industrial action than in any six months for over 30 years, according to official data. An Ipsos poll released on Wednesday suggested the public was divided on the multiple strike action, with 40% supporting the action and 38% opposed. It put the estimated impact of the teachers' strikes at about 20 million pounds a day. ($1 = 0.8130 pound)Reporting by Michael Holden, Alistair Smout and William Schomberg; editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

☆ UK strike law will make it harder for key workers to strike
▼ + stars: | 2023-01-06 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

London CNN —The UK government is planning to introduce a new law forcing workers in key public sectors such as ambulance services to maintain a basic level of service during strike action or risk dismissal. Workers who strike after they have been told to report to work by their employer and union could face dismissal. Critical care was exempt from the nurses’ strike, and unions pledged to cover life-threatening emergencies during recent walkouts by ambulance workers. The government said that it will impose minimum safety levels in these areas only if “voluntary agreements” cannot be reached. “Trade unions will fight this every step of the way,” the Trades Union Congress, which represents 48 UK unions, said on Twitter.

☆ UK public sector pay won't keep up with inflation: transport minister
▼ + stars: | 2022-11-27 | by ( David Milliken | ) www.reuters.com time to read: +3 min

REUTERS/Dylan MartinezLONDON, Nov 27 (Reuters) - British public-sector pay will not be able to keep up with soaring inflation, transport minister Mark Harper said on Sunday, as the country faces a wave of industrial disputes. British consumer price inflation hit a 41-year high of 11.1% in October, but the latest official wage data, for July-September, showed public sector pay rose by an annual 2.4%, while average private sector wages increased by 6.8%. "We want to try and give all the workers in the public sector who work very hard decent pay rises. We haven't seen those in the private sector either," Harper told Sky News. Harper said he wanted changes to employment practices in the rail sector - where Sunday working is optional - before agreeing more public funding.

REUTERS/Peter Nicholls/LONDON, Sept 20 (Reuters) - A group of British trade unions is seeking a judicial review of regulations allowing companies to hire temporary staff from agencies to fill in for striking workers, the unions said on Tuesday. Eleven trade unions across a range of industries and representing millions of workers said the rules could worsen industrial disputes and undermine the right to strike. Register now for FREE unlimited access to Reuters.com RegisterThe unions said the new rules were unlawful as the then-business secretary Kwasi Kwarteng failed to consult unions. But the government is attacking it in broad daylight," Trade Unions Congress General Secretary Frances O'Grady said in a statement. It means workers can't stand up for decent services and safety at work – or defend their jobs and pay."

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