logo
Exclusive: Air Canada and striking union are holding discussions Monday night, source says

Exclusive: Air Canada and striking union are holding discussions Monday night, source says

Reuters2 days ago
Aug 18 (Reuters) - Air Canada (AC.TO), opens new tab and its union representing 10,000 flight attendants are holding discussions on Monday night with a mediator, a source familiar with the matter said.
The Canadian Union of Public Employees, which represents the flight attendants, had continued to strike even after the Canada Industrial Relations Board declared it unlawful.
Air Canada's unionized flight attendants walked off the job on Saturday after contract talks with the carrier failed, in a move that disrupted travel plans for hundreds of thousands of passengers.
On Monday, Canadian Jobs Minister Patty Hajdu urged both parties to return to the negotiating table and reach a collective agreement for workers as soon as possible.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Booing heard as JD Vance and Pete Hegseth deliver Shake Shack burgers to National Guard in Washington DC
Booing heard as JD Vance and Pete Hegseth deliver Shake Shack burgers to National Guard in Washington DC

The Independent

time23 minutes ago

  • The Independent

Booing heard as JD Vance and Pete Hegseth deliver Shake Shack burgers to National Guard in Washington DC

Watch as JD Vance and Pete Hegseth deliver Shake Shack burgers to National Guard deployed in Washington DC. Footage taken on Wednesday (20 August) at Washington DC's Union Station shows Vance handing out burgers to troops as he applauds them for 'doing a hell of a job'. He said: 'You guys bust your ass all day, the least we can do is give you a handburger, not a fair trade but we're grateful for everything you guys do.' As Vance, Hegseth and Miller shook hands with the troops, protesters could be heard booing and heckling the group.

Indiana's BP refinery restarts after severe flooding
Indiana's BP refinery restarts after severe flooding

Reuters

time23 minutes ago

  • Reuters

Indiana's BP refinery restarts after severe flooding

NEW YORK, Aug 20 (Reuters) - BP's (BP.L), opens new tab 440,000-bpd refinery in Whiting, Indiana, was in the process of restarting after flooding disrupted its operations earlier this week, industry monitor IIR said on Wednesday, adding the units would take several days to ramp up. The facility aims to be back running at full rates by early next week, IIR said. The refinery reported flaring due to flooding caused by a severe thunderstorm. Materials will continue to be burned in the flares as needed to maintain safe operations, BP said in a social media post on Wednesday, adding that response and operations teams have been on site since Monday evening. BP declined to comment on the refinery's restart timeline. The Whiting refinery, the largest in the U.S. Midwest, produces a wide range of liquid fuels, including gasoline, diesel and jet fuel. Consumers in the Great Lakes region including in Michigan, Indiana, Ohio, Wisconsin and Illinois will likely see retail gasoline prices rise 15 to 30 cents a gallon due to disruption at the Whiting refinery, while those in Chicago might see prices surge 20 to 50 cents, Patrick De Haan, head of petroleum analysis at GasBuddy, said in a social media post on Wednesday.

Nasdaq, S&P 500 end lower as investors sell tech, buy less pricey sectors
Nasdaq, S&P 500 end lower as investors sell tech, buy less pricey sectors

Reuters

time23 minutes ago

  • Reuters

Nasdaq, S&P 500 end lower as investors sell tech, buy less pricey sectors

Aug 20 (Reuters) - The Nasdaq and S&P 500 fell on Wednesday as investors sold tech stocks and moved into less highly valued sectors, as they also awaited remarks from Federal Reserve officials at their Jackson Hole symposium this week. Tech stocks, which drove much of the recovery from Wall Street's April selloff, have been pulling back. The S&P 500 technology index (.SPLRCT), opens new tab was down on the day, while sectors such as energy, healthcare and consumer staples rose. "A broader lens tells you it's more of a rotation than a true sell off," said Allspring's senior portfolio manager, Bryant van Cronkhite. "Tech valuations look extended in the context of inflated spending today. Number two, I would say that there are a lot of pockets of the market that look very attractive from a valuation standpoint and they've been broadly ignored." According to preliminary data, the S&P 500 (.SPX), opens new tab lost 16.40 points, or 0.26%, to end at 6,394.97 points, while the Nasdaq Composite (.IXIC), opens new tab lost 144.76 points, or 0.68%, to 21,170.19. The Dow Jones Industrial Average (.DJI), opens new tab rose 1.48 points, or 0.00%, to 44,923.75. Analysts listing other factors behind the tech sell-off mentioned OpenAI CEO Sam Altman's comments last week about artificial intelligence stocks being "in a bubble," and a Massachusetts Institute of Technology study that showed many tech companies were struggling to translate AI into actual profits. Some investors also worried about government interference in the private sector. President Donald Trump's administration is looking into taking equity stakes in chip firms such as Intel (INTC.O), opens new tab, weeks after unprecedented revenue-sharing deals with Nvidia and AMD. Nvidia (NVDA.O), opens new tab, Advanced Micro Devices (AMD.O), opens new tab, Intel (INTC.O), opens new tab and Micron (MU.O), opens new tab fell. Nvidia's quarterly results on August 27 are keenly awaited for clues on demand for artificial intelligence. Other megacap growth names such as Apple and Meta (META.O), opens new tab also came under pressure. Minutes from the Fed's July meeting, where interest rates were left unchanged, showed almost all policymakers viewed it as appropriate to maintain the target range for the federal funds rate at 4.25% to 4.50%, despite two dissenters. The central bank's annual conference in Jackson Hole, Wyoming, kicks off on Friday, with Chair Jerome Powell expected to speak. His remarks will be closely watched for policy signals. Investors have been pricing in a 25-basis-point rate cut in September, according to data compiled by LSEG. Meanwhile, investors also monitored Trump's call for the resignation of Fed Governor Lisa Cook, with the president citing allegations that she was involved in mortgage fraud. Earnings from big retailers, seen as a barometer for the health of the American consumer, are also due this week as sentiment has taken a hit from concerns that tariffs could drive prices higher. Target (TGT.N), opens new tab tumbled after the company named a new CEO and retained its annual forecasts that were lowered in May. Cosmetics giant Estee Lauder (EL.N), opens new tab fell after tariff-related headwinds weighed on its annual profit forecast.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store