- Vaughan's son takes 11 wickets as Somerset revive title bid by beating champions Surrey
- Long-awaited case on Man City charges to start on Monday: report
- PSG refuse League order to pay Mbappe disputed €55 million
- Harris, Trump target swing states after fierce debate
- Ten Hag hits back at Ronaldo criticism over Man Utd ambition
- Oscar hopefuls to bookend US French film festival
- UN chief calls for 'courage' ahead of Summit of the Future
- French rugby federation blames 'poorly managed' supervision for youth player drowning
- Movie producer Harvey Weinstein indicted on new charges: US media
- Ex-Scotland captain Hogg to miss Montpellier match after bail release
- 'Historic': Bad weather slashes wine harvest in France's Jura
- ECB rate cut boosts European stocks, euro
- Piastri not 'pulling over' for Norris at every race
- 'Energised' Tebogo looking to close season with Diamond League bang
- Millions in SE Asia battle floods, death toll passes 250
- Fiat 500 electric production pauses for one month
- London Fashion Week opens with Charli XCX party and second-hand runways
- ECB cuts rates again, Lagarde backs EU reform call
- Storm Francine downgraded but still drenching US south
- Everton say 'work to be done' on Textor takeover
- Shelling kills 3 Red Cross workers in E.Ukraine
- Shelling kills 3 Red Cross workers killed in E.Ukraine
- Iran president makes 'historic' visit to Iraqi Kurdistan
- Brigitte Macron awarded damages over false trans claim
- ECB rate cut boosts Europeans stocks, euro
- Deadly Israeli strike on Gaza school draws global condemnation
- Russia recaptures part of Kursk region
- Bike-loving Dutch grapple with 'fatbike' phenomena
- Ahead of Champions League warm-up, PSG are soaring and Brest slumping
- ECB cuts rates again as inflation slows
- Denmark's von Trier to direct a new film
- Arteta agrees new Arsenal deal
- Jon Bon Jovi helps woman standing on edge of US bridge
- SpaceX makes history with first spacewalks by private citizens
- England's Livingstone 'feels like a kid again' after injury setbacks
- Brazil urges EU to suspend 'punitive' anti-deforestation law
- Myanmar residents flee deadly floods in boats and on makeshift rafts
- Power struggle and chaotic player trading: What's going at Chelsea?
- Blinken seeks common cause in Poland after Ukraine jitters
- Stocks rally on cooler US inflation, before ECB rate call
- Spanish PM meets Venezuelan opposition figure amid tensions
- McLaren set to introduce team orders to support Norris title bid
- Tottenham's Bentancur charged with misconduct over remarks about teammate Son
- UniCredit CEO says Commerzbank takeover an option: Bloomberg
- Pogacar aims to conquer Canada before cycling worlds
- UK military urged to stop using bearskin hats on cost grounds
- New Queen Elizabeth II statue panned in Northern Ireland
- Ireland launches EU privacy probe into Google AI development
- Irish skipper Tom Dolan wins Solitaire du Figaro sailing race
- Boats carry terrified children to safety in Thai floods
JRI | -0.08% | 13.17 | $ | |
NGG | -0.25% | 69.15 | $ | |
BTI | -0.51% | 38.92 | $ | |
GSK | -1.52% | 43.115 | $ | |
CMSC | -0.4% | 25.14 | $ | |
BCC | 2.71% | 125.49 | $ | |
SCS | 0.89% | 13.46 | $ | |
RYCEF | 2.33% | 6.45 | $ | |
RBGPF | 4.7% | 59.81 | $ | |
RIO | 0.91% | 61.77 | $ | |
BCE | -0.01% | 35.185 | $ | |
AZN | -2.01% | 78.94 | $ | |
VOD | -0.18% | 10.022 | $ | |
CMSD | -0.08% | 25.11 | $ | |
RELX | 1.4% | 47.82 | $ | |
BP | 1.07% | 31.63 | $ |
Canada rail freight shut down threatens to disrupt economy
A labor dispute in Canada threatened to disrupt the North American economy on Thursday after the county's two rail operators shut operations, locking out nearly 10,000 workers.
"Despite months of good faith negotiations ... parties remain far apart, and both CN and CPKC have begun their lockout," the Teamsters Canada Rail Conference union said in a statement, referring to Canadian National Railway (CN) and Canadian Pacific Kansas City (CPKC).
The union representing close to 10,000 workers had given a midnight (0500 GMT) deadline to reach a deal.
The disputes have centered around workers' concerns over long hours and fatigue leading to dangerous working conditions.
It is the first time Canada has faced simultaneous work stoppages at the two companies, which in the past have negotiated labor deals in alternate years.
CN and CPKC have tracks that stretch nationwide from the Atlantic to the Pacific coasts and south into the United States.
They carry an estimated Can$1 billion (US$730 million) worth of goods daily, including grains and potash, cars and petroleum products, and timber.
Business groups and farmers have warned of costly disruptions to the G7 economy.
US rail companies and overseas shippers had already stopped accepting some goods destined for Canada in anticipation of a disruption.
The chambers of commerce of the United States and Canada issued a joint statement Tuesday calling on the government of Canadian Prime Minister Justin Trudeau to take action.
“A stoppage of rail service will be devastating to Canadian businesses and families and impose significant impacts on the US economy,” they said.
"Significant two-way trade and deeply integrated supply chains between Canada and the United States mean that any significant rail disruption will jeopardize the livelihoods of workers across multiple industries on both sides of the border."
- 'Good faith' -
CN had sought to force the temporary relocation of workers to fill staff shortages in parts of Canada, which the union rejected.
"The union did not respond to another offer by CN in a final attempt to avoid a labor disruption," it said in a statement.
For its part, CPKC said it had "bargained in good faith, but despite our best efforts, it is clear that a negotiated outcome with the TCRC is not within reach."
The Teamsters leadership "continues to make unrealistic demands," it added.
The Teamsters said the two rail operators "have shown themselves willing to compromise rail safety and tear families apart to earn an extra buck," said union president Paul Boucher.
The union said it remained at the "bargaining table" with the two firms despite the lockout.
The Anderson Economic Group, which specializes in estimating losses, estimated that a three-day lockout could cost US$303 million and predicted a US$1 billion loss for a week-long disruption.
The analysts said that the United States would largely be spared significant impact as long as the dispute ended within a week.
“Our experience with port shutdowns in the United States indicates that shippers will aggressively seek alternate routes, and industry will move to substitute other suppliers, especially during the first week of a strike or shutdown." Anderson said.
A.Mahlangu--AMWN