Latest news with #Inglis
Hamilton Spectator
7 days ago
- Business
- Hamilton Spectator
S&P/TSX composite down amid fresh inflation data in Canada and the U.S.
TORONTO - Canada's main stock index fell more than 140 points to finish trading Tuesday, while U.S. stock markets were mixed as investors saw fresh inflation data from both countries. The S&P/TSX composite index was down 144.71 points at 27,054.14. In New York, the Dow Jones industrial average was down 436.36 points at 44,023.29. The S&P 500 index was down 24.80 points at 6,243.76, while the Nasdaq composite was up 37.47 points at 20,677.80. 'Generally, markets have been pretty cautious with all the trade tensions heating up again,' said Kim Inglis, a senior portfolio manager at Raymond James, in an interview. Stocks also felt pressure from a report showing inflation in the United States accelerated to 2.7 per cent last month from 2.4 per cent in May. Economists pointed to increases in prices for clothes, toys and other things that tend to get imported from other countries. The latest U.S. inflation update hurt Wall Street's hopes for lower interest rates. Inflation data from Statistics Canada released Tuesday showed Canada's annual pace of inflation accelerated to 1.9 per cent in June. 'Inflation is obviously something everybody's looking at in general, because there's a lot of concern that the ongoing trade, tariff situation will end up impacting that,' Inglis said. Trade tensions are also something impacting the performance of the TSX, she said. 'Even with regards to the tariffs, this is something that would weigh on the Canadian markets for sure. And Prime Minister Carney came out and said that it's unlikely that Canada is going to have a trade deal with the U.S. that's going to be completely tariff-free,' she said. 'There are some negative headlines there that are going to impact things overall in terms of sentiment for the day.' A trade deal with the United States will likely include some tariffs, Prime Minister Mark Carney indicated on Tuesday ahead of a meeting with his cabinet. On Wall Street, tech stocks were the outliers and rose after Nvidia said the U.S. government had assured it that licenses will be granted for its H20 chip again and that deliveries will hopefully begin soon. Nvidia's four per cent gain was by far the strongest force pushing upward on the S&P 500. 'In general, there's so much interest in AI, and AI is really showing up in all areas of our lives. It's becoming something that's being inserted into virtually every product these days,' Inglis said. 'So I don't think that there is going to be any sort of slowing with that. The demand is there for AI, investments are pouring into AI to build that out.' Stocks of big U.S. banks, meanwhile, were mixed following their latest earnings reports. JPMorgan Chase slipped 0.7 per cent despite reporting a stronger profit than analysts expected, as CEO Jamie Dimon warned of risks to the economy because of tariffs and other concerns. Citigroup rose 3.7 per cent following its better-than-expected profit report. But Wells Fargo fell 5.5 per cent following its own, as it trimmed its forecast for an important way that it makes money. The Canadian dollar traded for 72.94 cents US compared with 73.03 cents US on Monday. The September crude oil contract was down 44 cents US at US$65.37 per barrel. The August gold contract was down US$22.40 at US$3,336.70 an ounce. This report by The Canadian Press was first published July 15, 2025. Companies in this story: (TSX:GSPTSE, TSX:CADUSD) Note to readers:This is a corrected story. A previous version had an incorrect settle price for crude oil.
NZ Herald
13-07-2025
- Business
- NZ Herald
Gig economy on trial as Uber fights drivers' employee status
A gig is only as good as the contract and the client. Contracting traditionally offers fewer legal protections and financial security. We're talking no annual leave, KiwiSaver (another blow with the latest government contribution reduction slashed to $251 from $521 a year), sick days, maternity or bereavement leave, minimum wage, breaks, and few options for recourse if you're unfairly given the boot. Contracting can be a win-win for employers wanting to outsource the work without strings attached, but like any romantic 'situationship', power imbalances and lopsided cost-benefit splits can leave you out in the cold. That's especially true for the four Uber drivers now fighting for employee status in the Supreme Court. How did we get here? The case dates back to a landmark Employment Court decision in 2022. The contractors, through unions E Tū and First Union, sought 'employee' status prescribed in the Employment Relations Act. At the time, Chief Judge Christina Inglis considered the nature of the relationship, who called the shots, who profited, what both sides intended, and whether the drivers were genuinely seen as part of Uber's business. Despite the unorthodox employment model, Chief Judge Inglis rejected Uber's claims that it merely facilitated rides, concluding the company '... creates, dictates, and manages the circumstances under which its business is carried out, and driver labour is deployed in order to grow that business'. Same same, but different Enter the Court of Appeal decision released last year, which also found in favour of the drivers, but disagreed with the Employment Court's emphasis on the workers' vulnerability. Instead, it took the Supreme Court's Bryson v Three Foot Six approach. It compared the contractual terms with the reality on the ground, asking: How much control did Uber exercise? How integrated were the drivers into the business? Could they meaningfully operate on their own account? First, the court found the Uber-directed contract was offered on a 'take it or leave it basis with no scope for negotiation'. Clauses designed to steer away from employee status were, in Justice Lowell Goddard's words, 'window dressing'. In practice, Uber controlled almost everything: fares, terms, conditions, complaints and customer contact. Drivers could not negotiate prices or reject too many rides without being penalised, and they had no way to build goodwill of their own, the court found. Sure, they provided their own cars and phones, picked their hours and wore mufti, but this did not outweigh Uber's control or how integral drivers were to the business. No drivers, no rides, no Uber. Let a good thing lie In my view, this was a win for the underdog, with the potential to open the door for all drivers and gig workers to ask whether they too, are entitled to minimum rights. Great for worker bees but not so great for business. It's therefore no surprise we are now at the Supreme Court, where Uber has warned that the court risks rewriting the rules for 20% of the workforce, consequently increasing compliance costs. Uber claims that the court should adhere to the contract and its underlying intentions. Yes, Uber sets quality standards and prices, but drivers also determine when and where to log in, which jobs to take, and cover costs. Conversely, the drivers contend that the contract is the baseline; the law was never meant for fine print to mask the true nature of the daily grind. They argue that the real essence of the model depends on control and subordination, not genuine independence. Where to from here? As we wait with bated breath for the Supreme Court's decision, it may already be too late for contractors suffering under the weight of big business. Enter the Government's Employment Relations Amendment Bill, introduced last month. The new 'gateway' test promises, in the words of Workplace Relations and Safety Minister Brooke van Velden, to 'provide greater certainty for all parties and allow more innovative business models'. Under the proposal, a worker will be excluded from the definition of 'employee' if all the conditions are met: the contract must specify independent contractor status, they can freely work for others, they are not required to work set times (or can subcontract), they can't be fired for turning down extra tasks, and they must have time to review the deal. If the contract's signed, sealed and delivered, even a 'take it or leave it' deal might lock you out of your rights for good. And who said romance was dead?
Yahoo
10-07-2025
- Sport
- Yahoo
New Penrith bosses optimistic as new season draws closer
Penrith AFC's new management team are in optimistic mood two weeks before the big Northern League kick-off. Jim Nichols and assistant Alan Inglis are preparing the side for the start of a new Division One campaign. Penrith's young side performed encouragingly in drawing 1-1 with Workington Reds in last weekend's friendly, and on Saturday they host Charnock Richard in another pre-season game. Inglis told the News & Star that he and Nichols were pleased with what they have inherited so far. 'We've been really looked after by everybody at Penrith, and with the team, we've managed to keep the majority if not all of the ones that we were really targeting to keep,' he said. 'A number of our more experienced players have been on holiday – the likes of Luke Hunter and Connor Hammell – so they're missing chunks of the pre-season, but we're really, really happy with what we've got. 'We've got two more friendlies, a few more training sessions, and the lads are working really hard. 'Then it's a case of us all looking forward to that first game of the season.' Nichols replaced Darren Edmondson at the helm this summer, and Penrith battled well to hold Edmondson's new club Workington last time out, with DJ Taylor cancelling out Steven Rigg's opener. 'It was really positive,' added Inglis. 'What we've identified straight away is how young our team are. There's nobody over 27 or 28, and the majority aren't over 23, so it could have been a long afternoon, but they worked so hard. 'The tempo that they put in was pleasing, so was the effort that they put in, and when they got the opportunity to get it down and play, we were able to do so. 'Because of their work rate, because of how well-drilled the boys were, and how well they worked for each other, we limited them to very little, really. Penrith held Workington Reds to a 1-1 draw last weekend (Image: News & Star) 'With a young side, it's always the worry that if you concede one, it can go to two and three quite quickly, but it didn't, and it was good to be able to weather that storm for a couple of minutes, and then get ourselves back into the game.' The Bonny Blues fielded Carlisle United goalkeeper Thomas Randall against Workington, and are weighing up a work experience loan move for the teenager. Penrith's league campaign starts on Saturday, July 26 with a trip to West Auckland Town. The Cumbrian club, meanwhile, have been handed a trip to Pickering Town in the FA Cup extra preliminary round on Saturday, August 2. The winners will host Easington Colliery or Boro Rangers in the preliminary round. Fellow Northern League Division One club Carlisle City go to Marske United in the extra preliminary round, and will then face a trip to either Whitley Bay or Heaton Stannington if they progress. The FA Vase first round qualifying sees Penrith go to Campion, with the winners at home to Padiham or Sunderland RCA. There is a Cumbrian derby in the preliminary round of the FA Youth Cup, meanwhile, with Workington hosting Penrith. The winners will host Spennymoor Town in the first round qualifying.
Daily Tribune
04-07-2025
- Sport
- Daily Tribune
Steve Smith back for second West Indies Test after dislocated finger
Steve Smith has recovered from a nasty dislocated finger and will return for Australia's second Test against the West Indies this week at the expense of Josh Inglis, skipper Pat Cummins said. Smith hurt his finger while fielding in the slips during the World Test Championship final at Lord's three weeks ago and was taken to hospital. It sidelined him for the first Test in Barbados that Australia won by 159 runs, and he was sorely missed with the side's top order failing to fire. 'He's ready to go, the finger held up well,' Cummins said on Wednesday at St George's in Grenada, with the 36-year-old set to bat with a splint. He will slot back in at number four after Inglis failed to grab his opportunity, making just five and 12. While Inglis misses out, selectors have kept faith with teenager Sam Konstas as Usman Khawaja's opening partner and the under-performing Cameron Green at three, resisting any urge to bring back the axed Marnus Labuschagne, who remains with the squad. The team is otherwise unchanged, with the potent combination of Cummins, Mitchell Starc and Josh Hazlewood once again spearheading the attack.
Sky News AU
02-07-2025
- Sport
- Sky News AU
Cricket, Australia v West Indies: Steve Smith could field at fine leg
Australian captain Pat Cummins says he could send Steve Smith to field at fine leg to protect the injured finger he'll bat with in the second Test against the West Indies, declaring it was 'fun' to be playing at a venue he and his players had never seen before. Smith will bat in a splint he has to wear for at least another five weeks when he returns to the Australian top order that will be under pressure to perform in Grenada despite victory in the opening match. New No.3 Cameron Green has been backed in to go again as has teen opener Sam Konstas despite double failures from both in Barbados after Green also recorded two single-figure scores in the World Test Championship final. But Cummins and coach Andrew McDonald have asked for patience with the pair, but the return of Smith, who comes in for Josh Inglis, brings extra batting steel to a line-up that looked brittle in the first innings of the series opener. Cummins said Smith's finger had 'held up well' in training and he had no fear of it hindering the master batter, with fielding his only limitation. 'He's ready to go, the finger held up well,' Cummins said on Wednesday. 'He was really happy, particularly batting. 'Fielding we still potentially need to manage it a little bit, so he might not be in the slips too often – maybe for spin he'll be OK, but (for the) quicks he might need to wait another week. 'So you might see him running around a bit more … probably some variation of mid-off and fine leg, (but) we'll see if he lasts a few days down at fine leg, I reckon he'll be itching to get up in the circle pretty quick.' The Grenada venue has hosted Australia in ODIs but never in a Test match and only four Tests across a 23-year period. It provides a host of unknowns but Cummins said he was up for the challenge. 'Of course, having that knowledge is going to be helpful, particularly for the guys that haven't really played too many Tests or first-class games on similar wickets,' he said. 'There's been four Test matches here, and they've all been spread out, so it's hard to know, but it looked like a pretty good wicket … a pretty even coverage of grass. 'It's fun coming in when there's a few unknowns and you've got to think on your feet and you're not quite sure how a game is going to play out.' Smith in for Inglis is the only change to the Australian team from the opening Test. Originally published as Steve Smith could be fielding at fine leg in Grenada to protect injured finger
