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peter walker
Details of the government’s plans to pass legislation to make public sector strikes more difficult are not yet available.For example, by imposing statutory minimum service standards on railways Reported by Peter Walker.
No 10 originally hoped to provide this information before Christmas, but that is unlikely to happen even this week as officials investigate the complexity of the matter.
An official spokesperson for Rishi Sunak said:
We definitely want these new powers introduced as soon as possible. We don’t have a specific timescale, but we recognize the urgency of this and are working on it as such.
Downing Street hopes a deal to end rail strike is possible
Downing Street hopes a deal can be made to end the rail strike. A source at No 10 said the matter had not yet been sorted out, but the public sector dispute was seen as the most likely to be resolved first. Our political correspondent Peter Walker reports.
US factory activity falls at fastest rate since May 2020
In the United States, the survey showed that factory activity declined at the fastest rate since May 2020 and at the steepest rate since 2009. On a more positive note, inflationary pressures have eased as well.
In S&P Global’s final manufacturing PMI survey, the leading index fell to 46.2 in December from 47.7 in November, consistent with previous ‘flush’ estimates. Readings less than 50 indicate shrinkage.
The rise in cost burdens is the slowest since July 2020, due to falling prices for some raw materials such as metals and fuels. In an effort to boost sales and pass on cost savings, the company raised sales prices at the slowest pace in his two-odd-plus years.
Siân Jones, Senior Economist at S&P Global Market Intelligence, said:
Manufacturing performance was weak as 2022 came to an end and production and new orders contracted sharply. Demand for goods fell as domestic orders and export sales fell. Weak demand also led to a downward inventory adjustment. This is because the surplus inventories that were manufactured at the beginning of the year were used up instead of spending more on inputs. Outside of the initial pandemic period, purchase inventories fell most sharply since 2009.
Concerns about the demand outlook weighed on the hiring decision. Job creation was negligible and mostly related to skilled employment as businesses showed caution.
Inflationary pressures have eased further due to lower demand for inputs and increased material availability at suppliers. In fact, input price inflation was below trend for the series. Sales prices have also slowed down, but are still rising sharply. A slowing rise in inflation points to the impact of Fed policy on prices, while heightened uncertainty and weaker demand suggest challenges for manufacturers carry into the new year.
Crypto Billionaire Bankman-Fried Pleads Not Guilty
corrupted crypto billionaire Sam Bankman-Fried He is expected to plead not guilty on Tuesday to charges of defrauding investors and looting billions of dollars from the now-bankrupt cryptocurrency exchange FTX, according to sources familiar with the matter.
Bankman-Fried is accused of illegally using FTX customer deposits to support his Alameda Research hedge fund, purchase real estate and make millions of dollars in political contributions.
He is scheduled to appear before U.S. District Judge Louis Kaplan in Manhattan at 2:00 PM ET (7:00 PM GMT).
Aldi sales up 26% as shoppers seek savings
Aldi had its best Christmas in December with sales up 26% year-on-year as it opened new stores in the UK and attracted more customers looking to save amid the cost of living crisis.
Aldi UK, a subsidiary of the German discount supermarket group, pledged to offer shoppers the lowest grocery prices in the UK this year “no matter what”.
With more than 990 stores and a 9.3% share of the UK grocery market, the company overtook Morrisons last year to become the UK’s fourth largest supermarket group.
Strong sales growth in fresh meats such as poultry and pork was highlighted, both up by more than 28%. Total sales in December surpassed £1.4 billion for the first time.
Sales of chilled desserts and fresh cheeses jumped about 30% and 50% respectively, while sales of snacks such as chips and nuts increased more than 40%.
Aldi and fellow German discounter Lidl have expanded rapidly in the UK in recent years, forcing market leader Tesco to compete with Sainsbury’s, Asda and Morrisons on price. Tesco and Sainsbury’s have promised to match his Aldi on major offerings.
In corporate news, bankrupt chain Cineworld denies trying to split its operations and sell some of its movie theaters to rival Odeon owners, and is interested in buying the entire business. Claimed to be a buyer of
The denial comes after reports that the world’s second-largest theater chain, which filed for bankruptcy protection in the United States in September, was in talks to sell some theaters in the United States and Europe to AMC Entertainment. Thing.
“Cineworld would like to clarify that neither the company nor its advisers participated in discussions with AMC Entertainment Holdings regarding the sale of the company’s film assets,” the company said on Tuesday. He also denied having negotiated with the owner.
The British film company, which also owns the Picturehouse brand, has emphasized its focus on selling the entire business rather than looking for buyers for individual assets, and plans to approach interested parties later this month. .
German inflation slows to 8.6%
Inflation is slowing in Germany, Europe’s largest economy. Inflation fell to 8.6% in December from 10% in November and 10.4% in October, according to provisional official data.
Food prices rose 20.7% from 21.1% in November, while energy costs rose 24.4% from 38.7% in November due to government support measures.
Warm weather drives down gas prices
Alex Lawson
A period of mild weather in the UK and Europe led to a sharp drop in wholesale gas prices, taking a breather from the high prices that have led to higher energy prices.
European delivery prices fell 4.3% in February to €73.7 per MWh, while UK prices fell 3.8% to 179 pence/Arm.
Recent mild weather has reduced demand for heating in the UK and the rest of Europe and is expected to remain mild over the next two weeks.
The situation fuels optimism about gas supplies, which have been stretched since Russia cut gas exports to Europe after its invasion of Ukraine. Prices last week fell to levels never seen before the war began in February 2022.
The RMT leader said the frustration over the strike was understandable, but advised disgruntled commuters to “look also at what the government and businesses are doing”.
From the picket line at Euston Station in London, Mick Lynch The rail company told the PA that it could not operate on non-strike days as well as on days of labor unrest.
Lynch said there was “very strong public support” for the strike, but admitted that not everyone felt the same way.
We understand their anger and frustration and why they blame us, but we should also look at what governments and businesses are doing.
We want our railroads back to normal. We want good industrial relations and we want our services to be performed the way they should be performed.
Businesses cannot carry them out on non-strike days. Therefore, we need to change the equation and resolve disputes as soon as possible. This means that citizens will be able to rely on railroads and get the services they need.
RMT chief: Strike will continue beyond May unless reasonable proposal
RMT General Secretary, Mick Lynchsaid industrial action should continue beyond May unless reasonable suggestions are made to RMT.
If there are no proposals that we can work on, they are likely to (strike) move on.
We are constantly negotiating with companies and want to get into a situation where there is no need to go on strike. After that, we would like to work out a solution that members can vote on and accept.
But if we don’t get that, then we have to do more, and if we have a mandate until May of this year and we need to go further, we have to do it. But we don’t want that.
As the first of five strikes began today, he added:
Our members are in action across the country, from the north of Scotland to the tip of Cornwall. Rail service has been suspended and serious disruption is expected this week – we are not looking forward to that.
Lynch also said thousands of workers would lose their jobs and their safety would be at risk if RMT accepted the railroad’s latest offer.
From the picket line at London’s Euston station, the union leader told PA:
It’s from a railroad operator that we never accepted. Because it meant that thousands of members and guards would lose their jobs, it meant that the railways would become less safe, and it also meant that we would have to accept wage offers. Well below last year’s inflation rate and well below this year’s inflation rate in 2023.
Also, I didn’t get a raise for 3 years.The 3, 4 and 5 year contracts weren’t accepted by our members and weren’t accepted by the union, so they weren’t concrete offers. I should have.
RMT boss: Ministers ‘enjoying vacation’
A new wave of rail strikes in the UK began this morning, intensifying a war of words between the government and trade unions. Mark Harper Unions should return to negotiating table from picket line to ‘work out a deal’, RMT chief said Mick Lynch He told the PA news agency:
I’ll go see the Secretary of Transportation whenever he wants – I can see him in 20 minutes.
What happened is that on December 15th we had a meeting with the railway commissioner and we had already put out a notice of action, but they haven’t done anything since then and over Christmas I was enjoying my holiday.
We could meet, but they didn’t want to see us. So they waited until the strike made these noises, but if they wanted to make peace and stop the strike, they could have taken a little more action and moved things along.
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