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The Unilever headquarter building seen by the Nieuwe Maas river in Rotterdam. LONDON — European markets are heading for a lower open Thursday, with a flurry of corporate earnings and a selloff on Wall Street in focus. The U.K.'s FTSE 100 was last seen opening 19 points lower at 8,132 points, according to IG data, with Germany's DAX and France's CAC 40 down by 80 points and 45 points, respectively. The pan-European Stoxx 600 index closed 0.6% lower on Wednesday as second-quarter earnings season ramped up. Data will be released on German consumer confidence and euro zone and U.K. business activity, ahead of next week's euro zone gross domestic product second-quarter print.
Persons: Germany's DAX, carmakers Stellantis, Roche Organizations: Unilever, LONDON, CAC, MIB, Nestle, carmakers, Renault, Nasdaq, Deutsche Bank, Nikkei, U.S, Reuters, Bank of Locations: Rotterdam, Swiss, U.S, Asia, Pacific, Bank of Japan
MILAN, Oct 26 (Reuters) - Four auto groups believe pay increase requests proposed by Italian unions, including a 8.4% annual rise for next year, is too high, the UILM union said on Wednesday as talks got underway. The FIM-CISL, UILM, Fismic, UGLM and AQCF unions also requested wage increases of 4.5% for 2024 and 2.5% for 2025 to help workers recover purchasing power lost due to a Europe-wide spike in consumer price inflation. He added Stellantis considered the new contract it is discussing with unions a "valuable tool" to achieve its competitiveness ambitions in Italy. Unions and the companies have scheduled seven more meetings to be held between mid-November and mid-December. Reporting by Giulio Piovaccari Editing by Cristina Carlevaro, Mark Potter and David GregorioOur Standards: The Thomson Reuters Trust Principles.
MILAN, Oct 20 (Reuters) - Italy's unions will meet representatives of companies including carmakers Stellantis (STLA.MI) and Ferrari (RACE.MI) on Oct. 26 to start talks over wage increases, a senior official from the UILM union said on Thursday. On Wednesday FIM-CISL, UILM, Fismic, UGLM and AQCF unions said their delegates had approved a proposal presented last week by their leaders for new four-year contracts for most workers in Italy at Stellantis, Ferrari, Iveco (IVG.MI) and CNH Industrial (CNHI.MI). The proposal includes a request for a wage increase of 8.4% for next year to counter rising inflation. Register now for FREE unlimited access to Reuters.com RegisterThe meeting will be held next Wednesday morning in the northern city of Turin where Stellantis, Iveco and CNH Industrial have their Italian headquarters. Register now for FREE unlimited access to Reuters.com RegisterReporting by Giulio Piovaccari Editing by Keith WeirOur Standards: The Thomson Reuters Trust Principles.
Stellantis logo is seen on the company's headquarters in Poissy near Paris, France, February 20, 2022. REUTERS/Gonzalo FuentesMILAN, Oct 19 (Reuters) - Italian union delegates on Wednesday approved a proposal presented by their leaders to seek a wage rise of 8.4% for next year at Stellantis, Ferrari, Iveco and CNH Industrial, setting the scene for formal talks with the industrial groups. Consumer prices rose 8.9% year on year in Italy in September and workers are seeking higher wages in response. Leftist union FIOM is not part of these talks and has presented its own separate requests. Register now for FREE unlimited access to Reuters.com RegisterReporting by Giulio Piovaccari; editing by Agnieszka Flak and Keith WeirOur Standards: The Thomson Reuters Trust Principles.
The logo of Ferrari is seen in the headquarters as CEO Benedetto Vigna unveils the company's new long term strategy, in Maranello, Italy, June 15, 2022. They cover almost 70,000 workers in Italy, two thirds of them at the former Fiat-Chrysler, which last year merged with France's PSA to create Stellantis, whose brands also include Peugeot and Jeep. Spokespeople for Stellantis and Iveco said they would not make any comment until unions have filed a formal request, in coming days or weeks. The Agnelli family's holding company Exor (EXOR.AS) is a major shareholder in carmakers Stellantis and Ferrari, truckmaker Iveco and agricultural and construction machine maker CNH Industrial. This is separate from a national contract for workers in other parts of the metal and mechanical sector.
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