Skip to main content

Montreal dockworkers' union rejects offer; lockout begins By Reuters

By Divya Rajagopal

(Reuters) -The Montreal Longshoremen's Union rejected a closing offer made for a brand contemporary labour contract, leading to a lockout being declared, the Maritime Employers Affiliation (MEA) and the union said on Sunday.

The MEA said in a bid the lockout, which will influence nearly 1,200 port staff on the Canadian port that handled 8.7 million metric heaps within the third quarter of 2024, has been declared as of 9 p.m. eastern (02:00 GMT).

The lockout will additional slack Canadian imports and exports at a time the Port of Montreal became already working at partial ability and as West Hover ports are stopped for that reason of a separate dispute.

The union representing longshoremen on the Port of Montreal said the offer became rejected by 99.7% of individuals for the explanation that employer refused to negotiate.

"If the MEA had respected the collective bargaining processes, solutions would possess been stumbled on and a conflict on the Port of Montreal would possess been kept away from," said union adviser Michel Murray in a bid.

Two terminals operated by Termont, the container terminal operator primarily primarily based out of the Port of Montreal, representing about 40% of Montreal's container web page visitors and 15% of total port quantity, possess been shut down by the union's strike, which began on Oct. 31.

Nonetheless, after Sunday's announcement all longshoring on the port shall be locked out. And easiest necessary services and products now not connected to longshoring will continue on the Port of Montreal.

© Reuters. The Port of Montreal is closed after terminal operators shut down operations over a labour dispute with the Canadian Union of Public Workers Local 375 in Montreal, Quebec, Canada, November 10, 2024. REUTERS/Peter McCabe

The MEA said that its closing offer supplied for a 3% wage expand per year for four years and a 3.5% expand for the 2 subsequent years.

West Hover ports including Canada's biggest port of Vancouver possess also been principally shut down since Monday (NASDAQ:) for that reason of a labor dispute, impacting exports of canola oil and wooded subject merchandise.

https://worldnewsguru.us/economy-news/montreal-dockworkers-union-rejects-offer-lockout-begins-by-reuters/?feed_id=104&_unique_id=67328ecc4c1af
Labels:

Comments

Post a Comment

Popular posts from this blog

Stocks and dollar end 2024 steady, 2025 all about Trump

By Ankur Banerjee and Alun John SINGAPORE/LONDON () -World stocks held steady on Tuesday in cautious year-end trading that has seen investors bracing for the incoming Donald Trump administration by scaling back bets on deep U.S. interest rate cuts in 2025, helping the dollar stand tall against most other currencies. Volumes were light with a holiday for the New Year looming, with the Santa-rally largely failing to materialise as elevated Treasury yields weigh on high equity valuations and boost the greenback. MSCI's world share index was flat on the day, but set to wrap up 2025 with a 16% annual gain. This year's rally has been largely a U.S. phenomenon, with the having risen around 24% compared with an 8% gain for MSCI's broadest index of Asia-Pacific shares outside Japan, and just 5% for Europe's . () But the mood latterly has been more cautious on the back of higher U.S. Treasury yields. The yield on the 10-year note reached 4.64% late last week, its highest...
Post a Comment
Read more

Celebrity spa haunt Champneys to explore £250m sale

The proprietor of Britain's supreme-known spa hotel has known as in bankers to attend explore strategic concepts on the eve of its centenary. Sky News has learnt that Champneys has appointed Cavendish to picture it on attainable deal opportunities, including the acquisition of a recent dwelling as successfully as a sale of the enterprise. The company's net sites are known for his or her A-checklist celeb clientele, including Daniel Craig, Anthony Joshua, Kate Moss, Brad Pitt and Naomi Campbell. Money most recent: Warning for millions of mortgage borrowers Diana, Princess of Wales, used to be moreover acknowledged to be a frequent Champneys guest. The chain now contains a handful of net sites, including at Wooded space Mere in Hampshire and the everyday Henlow spa in Bedfordshire. Champneys is now understood to be in talks to finalise the addition of a further dwelling by shopping an gift spa hotel. The company used to be previously owned by the unhur...
Post a Comment
Read more

Dollar set for best week since November on US rates, economic outlook

By Rae Wee SINGAPORE () -The dollar was on track for its best weekly performance in over a month on Friday, underpinned by expectations of fewer Federal Reserve rate cuts this year and the view that the U.S. economy will continue to outperform the rest of its peers globally. The greenback began the new year on a strong note reaching a more than two-year high of 109.54 against a basket of currencies on Thursday as it extended a stellar rally from last year. Its charge higher has come on the back of a more hawkish Fed and a resilient U.S. economy. "Looks like dollar strength is here to stay for now in early 2025 given the U.S. exceptionalism story is here to stay, and it still comes with high U.S. yields," said Charu Chanana, chief investment strategist at Saxo. "Add to that the uncertainty from policies of the incoming (Donald) Trump administration, and you also get the safety aspect of the dollar looking attractive." Ahead of U.S. President-elect Trump'...
Post a Comment
Read more