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Air Canada Flight Attendants Approve Strike Mandate Amid Contract Dispute

Air Canada Flight Attendants Edge Closer to Strike Action More than 10,000 Air Canada flight attendants have overwhelmingly voted—99.7% in favour—to grant their union a strike mandate, signaling growing frustration over stalled contract negotiations. The vote, conducted by the Air Canada Component of the Canadian Union of Public Employees (CUPE), does not guarantee a strike but empowers the union to call one if necessary. A legal strike could begin as early as August 16, following the expiration of a mandatory cooling-off period. Union president Wesley Lesosky criticized the airline for dragging its feet on key issues, including wages, unpaid hours, and working conditions. CUPE argues that flight attendants are only compensated for time between takeoff and landing, excluding critical duties like safety checks, boarding, and deplaning. Air Canada responded by acknowledging the vote as a standard part of the negotiation process and expressed its commitment to reaching a fair agreemen...
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Wall Street Slips Amid Inflation Concerns: A Weekly Recap

 

In a week marked by economic turbulence, Wall Street grappled with inflation worries, sending stocks further away from their record highs. Here’s a snapshot of the market’s recent performance:

  1. Stock Decline: The S&P 500 fell by 0.5% on Friday, while the Dow Jones Industrial Average dipped by 53 points (or 0.1%). The Nasdaq also slipped by 0.7%.

  2. Inflation Reports: Despite broad cooling, inflation remains hotter than expected. Investors closely monitored economic reports, raising concerns about the Federal Reserve’s next move on interest rates. Wall Street, however, still sees potential for a rate cut in June.

  3. Mixed Economic Data: Markets experienced volatility due to mixed economic data. While some reports indicated higher-than-expected inflation, others hinted at softening in the economy.

  4. Fed’s Forecast: The Federal Reserve will release its latest interest rate forecasts this week. Investors eagerly await insights into the central bank’s stance on monetary policy.

  5. Sector Performance: In off-hours trading, software maker Adobe faced a 11.2% tumble after providing tepid guidance. Ulta Beauty, the cosmetics retailer, also disappointed investors with its guidance, leading to a 7.2% pre-market slide.

  6. Global Markets: European markets showed modest gains, with Germany’s DAX rising by 0.4%, London’s FTSE 100 inching up by less than 0.1%, and Paris’s CAC 40 jumping by 0.6%. In Asia, Tokyo’s Nikkei 225 declined by 0.3%, while South Korea’s Kospi sank by 1.9%.

As Wall Street navigates economic uncertainties, investors remain cautious. The Fed’s upcoming decisions and ongoing inflation concerns will continue to shape market dynamics. Stay tuned for further developments.



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