Could Air Canada flight attendants' strike ruin your summer vacation plans? Here's what travelers need to know
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When Is the Air Canada Strike Vote Happening?
Canadian Union of Public Employees Pushes for Better Pay and Conditions For Air Canada Staff
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Air Canada Strike Could Disrupt Summer Travel
What's Happening at Other Canadian Airlines?
WestJet: No Strike, But Talks Continue
Air Transat: Labor Deal Ratified, Strike Averted
Porter Airlines: Moving Toward Unionization
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Air Canada flight attendants, who are members of the Canadian Union of Public Employees (CUPE), are set to go on a vote for a possible strike as labor tensions over pay and conditions has increased, as per a report. Their current collective agreement expired on March 31, 2025, and with no agreement in hand, the union now has the legal authority to go on strike, as per a Travel And Tour World report.The strike vote runs from July 28 to August 5, as per the report. If approved, CUPE, which includes about 10,000 flight attendants at Air Canada and Air Canada Rouge, may put in a 72-hour notice of a strike and walk out of work as soon as August 26, according to Travel And Tour World report.Although the union claims it wishes to avert a strike by continuing negotiations, the vote represents a dramatic escalation in the conflict, as per the report. While, a representative for the union has highlighted that flight attendants deserve a 'strong new contract' to reward their hard work and dedication, as reported by Travel And Tour World.ALSO READ: While US meddled in Greenland, Russia quietly moved in on this strategic Arctic territory belonging to Norway Air Canada flight attendants' latest move to vote on a strike comes due to their working conditions, job security, and wages, according to the report. Flight attendants contend that starting salaries are too low and add that they are frequently asked to perform pre-flight tasks without pay, such as safety checks and preparation of the cabin, as per Travel And Tour World report. They are also demanding improved per diem allowances, pension enhancements, and greater job security, according to the report.As the summer vacation season gets under way, a strike at Canada's largest carrier could generate widespread delays, especially on transcontinental overseas flights, as per the Travel And Tour World report.ALSO READ: Bitcoin to $300,000? Traders warn of massive surge before next Great Depression hits While Air Canada moves closer to taking strike action, other Canadian carriers are facing developments in their own labor situations, according to the report.WestJet is not currently facing a strike vote, but labor issues remain, as per the report. Though the airline has experienced past disputes, no formal action is underway in 2025. Still, negotiations over wages and conditions are ongoing, and travelers are advised to stay informed, according to Travel And Tour World report.ALSO READ: World's largest passenger plane forced to turn back to Toronto after midair incident involving distressed passenger While Air Transat narrowly escaped a strike, as per the report. Flight attendants ratified a new agreement with a 30% pay hike over five years, which has led to some of the highest-paid cabin crew in the nation, as per the Travel And Tour World report. The deal also enhances working conditions and brings labor harmony back to the airline, as per the report.Porter Airlines flight attendants have officially requested the Canadian Industrial Relations Board to be certified as CUPE members, according to the Travel And Tour World report. This represents a significant move toward unionization at a traditionally non-union airline. No strike plans are currently in the works, but a collective bargaining process could start soon, as per the Travel And Tour World report.They're pushing for better wages, improved working conditions, and job security, as per the Travel And Tour World report.About 10,000, including staff at both Air Canada and Air Canada Rouge, as per the Travel And Tour World report.
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Hindustan Times
26 minutes ago
- Hindustan Times
India sets sail for Arctic waters with Russian partnership
Maritime transport is the backbone of international trade and the global economy. Over 80% of the volume of international trade is carried by sea, and the percentage is even higher for most developing countries. The ever-increasing volume of global maritime trade and the related increased global competition that can have a significant impact on the stability of maritime transportation demonstrate a reasonable need to improve the global transportation security. One of the most relevant ways to achieve these goals is to develop additional routes for the transit of goods. Indian Maritime(HT_PRINT) Countries worldwide are currently exploring alternative routes to supplement traditional shipping corridors and stabilize global supply chains. Recognising these trends, India, a nation reliant on maritime transportation due to its geographical location, has begun to actively pursue opportunities in Arctic shipping. According to the ministry of commerce and industry, in 2024, the volume of trade between Russia and India exceeded a record $70.6 billion, which is 9.2% higher than in 2023. Specifically, India imports unique crude oil blends from Arctic fields such as ARCO and Novy Port, diversifying its energy sources and reinforcing national energy security. The Northern Sea Route is of key importance to India's steadily growing economy. The development of this promising area of cooperation between the two countries has already received an impetus in the form of an initiative to create a sea corridor from the Indian port of Chennai to Vladivostok and back. The logical continuation of the initiative will be its interlinking with projects on the development of transit container transportation along the Northern Sea Route, implemented by Rosatom State Corporation with the active support of the State. The addition of India's key companies in maritime transportation and port operations will give a strong impetus to the project and allow India to develop existing as well as gain unique competencies to operate and maintain the Arctic Sea Container Line. This momentum also was further solidified in 2024 when India and Russia jointly established a working group focused explicitly on cooperation on the Northern Sea Route. Their collaboration includes initiatives to improve navigation safety, the possibility of training Indian sailors in polar navigation and the creation of joint projects in the field of Arctic shipbuilding. The Northern Sea Route is Russia's national transportation link in the Arctic which represents a compelling opportunity, offering substantial reductions in the transit distance between Europe and Asia—shortening the conventional 21,000 km journey to approximately 13,000 km. The first reference to the Northern Sea Route dates back to 1525, when the Russian envoy Dmitry Gerasimov came up with an idea of a shipping route through the Arctic Ocean. This proposal paved the way for maritime shipping between Russia and China and marked the start of Russia's endeavour to develop the Northern Sea Route, which celebrates its 500th anniversary in 2025. The route is extremely important for ensuring further development of the economy being the element of the creation of Russia's unified logistical space stretching from Murmansk to Vladivostok, uniting waters from Russia's western maritime border to the borders of the Asia-Pacific region. By shortening travel distances, the NSR supports global efforts toward decarbonising maritime logistics, contributing positively to environmental sustainability including through the use of the nuclear icebreakers, which are virtually no carbon dioxide emissions into the atmosphere. It is important to note that Russia is the only country in the world with a nuclear-powered icebreaker fleet. The fleet is operated by Atomflot, an enterprise of Rosatom State Corporation. Today, the Russian nuclear icebreaker fleet has taken on and multiplied all the advantages of the world's first nuclear icebreaker. Such infrastructure not only ensures safe maritime transit but aligns perfectly with global goals aimed at reducing environmental impact and enhancing sustainability in shipping. India has long understood the importance of its participation in Arctic projects and has confirmed its interest in cooperation in the region. According to India's strategic planning documents, including the country's vision in the context of participation in global maritime trade, India is analysing both current and possible future trends in global maritime trade to formulate objectives and guidelines for the present including in the Arctic. India's Arctic Policy (2022) document explicitly recognises the importance of NSR. The cargo traffic along the NSR is growing rapidly as well. Since 2018, when Rosatom took over the responsibility for operating the NSR infrastructure, the NSR cargo traffic has more than tripled reaching a new record in 2024 with approximately 37.9 million tonnes of cargo shipped along the route. This exceeds the previous maximum by 1.6 million tonnes. The volume of transit cargo exceeded three million tonnes. The increasing activity in the Arctic region underscores the importance of balancing economic gains with environmental stewardship. Furthering its commitment, India announced its Arctic Policy, clearly defining objectives related to climate research, infrastructure development, and international cooperation. 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As global trade continues to expand, India's active involvement in Arctic maritime logistics supported by robust collaboration with Russia exemplifies a forward-looking approach, one that harmonises economic ambitions with global responsibility, paving the way for sustainable and resilient international trade networks. This article is authored by Sitakanta Mishra, Dean, School of Liberal Studies, Pandit Deendayal Energy University, Gujarat.
Economic Times
26 minutes ago
- Economic Times
US stock market futures plunge as Trump's sweeping global tariffs spark market panic — Dow, S&P 500, Nasdaq all tumble in early trading
TIL Creatives The US stock market futures took a sharp hit early Friday after President Donald Trump announced sweeping new tariffs on imports from 92 countries, rattling investors and reigniting fears of a global trade war. Futures tied to the Dow Jones, S&P 500, and Nasdaq all slid nearly 1% as markets reacted to the sudden escalation in trade tensions, particularly the surprise tariff hike on Canadian goods from 25% to 35%. With tech earnings mixed and the July jobs report looming, traders are bracing for a volatile ride ahead. US stock market futures plunge as Trump slaps sweeping tariffs on 92 countries, raising Canada rates to 35%- US stock market futures fell sharply on Friday, August 1, 2025, after President Donald Trump signed a sweeping executive order to impose global tariffs on imports from 92 countries, jolting financial markets and shaking investor confidence. The new tariffs, ranging from 10% to 41%, are being promoted by the administration as a bold strategy to 'protect American workers and industries' from unfair foreign competition and overreliance on global supply chains. Among the most dramatic moves was a targeted hit to Canada, where tariffs on goods outside the USMCA agreement have been hiked from 25% to 35%, effective August 7. The decision has already sent shockwaves through global markets, with businesses scrambling to adjust and economists warning of price surges and retaliation risks. Dow Jones Industrial Average (DJIA) : Fell over 1% in futures trading as industrials and multinational companies face tariff pressure. : Fell over in futures trading as industrials and multinational companies face tariff pressure. S&P 500 Index (SPX) : Dropped around 1% , reflecting broad-based concern across tech, retail, and manufacturing sectors. : Dropped around , reflecting broad-based concern across tech, retail, and manufacturing sectors. Nasdaq Composite (IXIC) : Slid approximately 1% , hit by mixed tech earnings and worries over global trade tensions. : Slid approximately , hit by mixed tech earnings and worries over global trade tensions. Russell 2000 (RUT): Dipped slightly, showing resilience compared to large caps, but still sensitive to inflation fears. Why are US stock market futures falling after Trump's new global tariffs? Wall Street woke up to a big red wave in the futures market. Dow Jones Industrial Average futures dropped nearly 489 points, or −1.1%, while S&P 500 and Nasdaq 100 futures slipped 1.17% and 1.32%, respectively. This comes after President Trump signed an executive order slapping massive tariffs on more than 92 countries, including key allies and trading partners like Canada, Switzerland, India, and Taiwan. These unexpected tariffs—ranging from 10% to 41%—are aimed at reshaping global trade, but they've triggered immediate concerns about supply chain disruptions, rising input costs, and potential retaliation. Which countries are hit hardest by Trump's sweeping tariffs? President Trump's executive order includes some of the steepest tariffs in modern U.S. history, targeting both U.S. allies and rivals. Key highlights of the new tariff package include: 35% tariff on Canadian imports 39% on Swiss products 25% on goods from Taiwan and India Additional tariffs on countries in Europe, Asia, and Latin America This sharp move has already sent shockwaves through international markets, with global indexes falling across Europe and Asia as investors brace for a longer, more intense trade conflict. Top US stocks reacting to Trump's tariffs and market turmoil The tariff shock is being felt deeply on Wall Street, especially among major tech and consumer giants. 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Many suggest: Staying diversified , with a focus on U.S.-centric companies less exposed to global trade , with a focus on U.S.-centric companies less exposed to global trade Trimming profits in overheated sectors or individual stocks facing tariff headwinds in overheated sectors or individual stocks facing tariff headwinds Watching for bargain-buying opportunities if the correction deepens but fundamentals remain intact Despite the market jitters, some analysts argue that the long-term economic impact of tariffs could be muted—if trade deals are renegotiated swiftly and corporate earnings hold steady. Trump's global tariffs send markets into a tailspin The U.S. stock market futures selloff today is a direct response to President Trump's aggressive new global trade strategy. With over 90 countries hit by higher import taxes, investors are scrambling to assess the real-world economic fallout. Major companies like Amazon, Apple, and Coinbase are already seeing stock price swings, while global markets are tumbling under the weight of uncertainty. As Wall Street waits for jobs data and potential trade breakthroughs, the only certainty for now is this: volatility is back, and markets are bracing for a rough ride. Canada, a key trading partner heavily impacted by the tariff hikes, saw its Toronto Stock Exchange (TSX) futures fall by nearly 1%. The Canadian government has yet to announce a formal response, but trade analysts warn this could spark retaliatory measures or friction within the USMCA framework. Meanwhile, global markets felt the tremors too. European stocks—including Germany's DAX and France's CAC 40—dropped around 1% to 1.7%, while Asian markets, especially South Korea's Kospi, plunged by more than 3.9%. International investors are bracing for potential backlash and a slowdown in global trade momentum. Trump's trade shock coincided with major earnings reports from tech giants. Amazon disappointed investors with weaker-than-expected guidance for its AWS cloud division, raising questions about slowing enterprise demand. In contrast, Apple posted stronger-than-expected iPhone sales, but flagged concerns over future supply disruptions tied to tariff impacts and geopolitical uncertainty. These mixed signals added to investor caution, particularly in the high-growth tech sector, which has been a key driver of Nasdaq's recent rallies. The broader economic implications of the new tariffs could be significant. Analysts warn that the cost of imported goods will likely rise, putting upward pressure on consumer prices and potentially reversing recent disinflationary trends. With the Federal Reserve closely watching inflation data to decide on its next move, the tariffs could complicate monetary policy and delay potential rate cuts. If inflation ticks back up, the Fed may be forced to keep interest rates higher for longer, which could slow economic growth and squeeze credit-dependent sectors like housing and autos. As the tariff drama unfolds, Wall Street is also fixated on Friday's U.S. jobs report for July, a critical indicator for assessing the economy's resilience. Economists are forecasting moderate job growth, but any signs of weakening employment could spook markets further—especially if paired with concerns about trade and inflation. The jobs report, combined with fallout from Trump's tariff order, could set the tone for markets in the weeks ahead, particularly as traders look toward the Fed's September meeting for guidance on interest rate direction. While President Trump's executive order was unilateral, the global reaction was swift. Several U.S. business leaders and economists cautioned that the tariff hikes could backfire by raising input costs for manufacturers and triggering international retaliation. Global leaders, including those from the EU, Canada, South Korea, and Japan, are reportedly preparing formal responses or negotiations. Former President Joe Biden, in a brief statement, warned that "economic nationalism shouldn't come at the cost of long-term stability and global cooperation." His comments reflect broader fears that protectionist measures could damage international alliances and strain diplomatic relationships. For average Americans, this tariff hike could translate into higher prices on everything from electronics and clothing to auto parts and agricultural goods. Businesses that rely on imported raw materials may need to adjust supply chains, raise prices, or absorb losses. Investors are likely to see increased market volatility in the short term. Sectors most at risk include manufacturing, agriculture, automotive, and retail, while defense and domestic energy could benefit from increased focus on U.S.-based production. President Trump's aggressive trade maneuver has thrown global markets into turmoil, with immediate reactions seen across U.S. indices and international exchanges. While the long-term impact remains to be seen, the short-term uncertainty is undeniable. With tariffs hitting just as crucial economic reports and Fed decisions loom, businesses and investors are bracing for a turbulent ride ahead. As the dust settles, all eyes will be on retaliatory responses, consumer inflation trends, and the Federal Reserve's next steps, all of which could shape the second half of 2025. The global economy may be on the edge of another trade-driven transformation—with the U.S. once again at the center of it all. Q1: Why did Trump raise global tariffs in 2025? Trump raised global tariffs to protect U.S. industries and punish countries he claims are unfair in trade, especially targeting Canada. Q2: How did Trump's tariffs affect the stock market? Stock markets dropped as fears of a new trade war and inflation spooked investors across Dow, Nasdaq, and S&P.
United News of India
an hour ago
- United News of India
Trump sets new tariffs on many countries' exports
Washington, Aug 1 (UNI) US President Donald Trump signed a sweeping executive order imposing sharply higher tariffs on dozens of trading countries potentially upending the global trade system and signaling a renewed push toward a protectionist era. India continues to face a 25 per cent tariff on its goods under the new order. However, the 'additional penalties' Trump had threatened over India's ongoing imports of Russian oil remain unspecified. Trade negotiations between Washington and New Delhi have been taking place but are now reportedly stalled particularly over agricultural market access. Pakistan, meanwhile, received a more favourable outcome. Having recently finalized a deal with the US on oil reserves, Islamabad's tariff rate has been reduced to 19 per cent, down from the 29 per cent reciprocal tariff imposed in April. Bangladesh's tariff has also been cut from 35 per cent to 20 per cent. Among the most significant changes, Trump announced that tariffs on Canadian imports would increase from 25 per cent to 35 per cent starting tomorrow. However, the White House clarified that goods compliant with the United States-Mexico-Canada Agreement (USMCA) would be exempt, softening the broader economic impact. The move is part of a broader Trump administration effort to implement 'reciprocal tariffs' on countries with which the United States runs a trade deficit. The executive order outlines a two-tiered structure: a 10 per cent tariff remains for countries with a US trade surplus, while a 15 per cent base rate now applies to those with a deficit — impacting around 40 nations. Some countries will face even steeper rates, ranging from 20 per cent to 50 per cent, depending on their trade balance or the status of ongoing negotiations. The newly announced tariffs will take effect in seven days and apply to 69 countries. Specific rates include 41 per cent on Syrian imports, 35 per cent on select Canadian goods, 50 per cent on Brazil, 25 per cent on India, 20 per cent on Taiwan, and 39 per cent on Switzerland. Pakistan stands out as a notable outlier in South Asia, receiving the region's lowest tariff rate. The reduction follows Islamabad's rollback of a 5 per cent tax on foreign digital services. While experts believe the 35 per cent blanket tariff on Canadian goods will affect only a limited portion of bilateral trade due to USMCA exemptions, the White House also issued a separate order increasing tariffs on fentanyl-linked Canadian goods from 25 per cent to 35 per cent. Canada, the US's second-largest trading partner after Mexico, was accused of 'failing to cooperate' in curbing fentanyl inflows into the United States. In stark contrast, Mexico was granted a 90-day reprieve from a planned 30 per cent tariff on most non-automotive, non-metal goods, following a Thursday morning call between Trump and Mexican President Claudia Sheinbaum. However, tariffs on Mexican steel, aluminum, and copper will remain at 50 per cent, while non-USMCA-compliant goods will continue to face a 25 per cent duty, CNN reported. Trump claimed Mexico had agreed to dismantle several non-tariff trade barriers, though the White House has not released specifics. Meanwhile, the President took a much tougher line on Brazil, slapping a 50% tariff on most imports amid tensions over the prosecution of Trump's close ally, former Brazilian President Jair Bolsonaro. Notably, sectors like aircraft, energy, and orange juice were spared. South Korea struck a deal with US and accepted a 15 per cent tariff—down from a proposed 25%—as part of a broader agreement that includes a $350 billion investment pledge in US-based projects to be selected by Trump. Tariffs on Taiwan were set at 20%, while Cambodia and Thailand will each face a 19 per cent duty. South Africa has been hit with a 30 per cent tariff, and Turkey with 15 per cent. The 39 per cent duty on Swiss goods has already triggered a decline in the Swiss franc against the US dollar. The administration clarified that countries not specifically named in the order's annex will face a default tariff rate of 10 per cent, CNN reported. Notably, the increased tariffs on Canadian goods from 25 per cent to 35 per cent came shortly after Canada's formal recognition of Palestine as an independent state. While not cited in the official statement, analysts suggest the move may have influenced Washington's decision. President Trump defended the measures as essential to correcting long-standing trade imbalances and protecting national and economic security. 'Despite negotiations, some trading partners have failed to address imbalances in our trading relationship,' the executive order stated. A senior administration official added, 'We have some deals, but we'll let the President make those announcements,' he said. UNI AAB PRS RB
