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Air Transat Faces Flight Suspensions Amid Pilot Strike Notice

  Air Transat has announced it will gradually suspend flights starting Monday following a 72-hour strike notice issued by its pilots’ union. The Air Line Pilots Association (ALPA), representing roughly 700 pilots, delivered the notice after nearly a year of unsuccessful negotiations with the airline’s parent company, Transat A.T. Inc. Background The union filed the strike notice on Sunday, giving pilots the legal right to walk off the job as early as Wednesday. Last week, pilots voted 99% in favor of strike action , underscoring their frustration over stalled contract talks. ALPA leaders emphasized that pilots do not want to strike but feel compelled to act after management failed to meet demands for a modernized agreement. Airline Response Air Transat confirmed it will begin suspending flights gradually between December 8 and 9 to prepare for a possible full shutdown. The company stated it is working “around the clock” to reach a deal and minimize disruption for trave...
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Market Gains Amid Anticipation of Key Data and Big Tech Earnings

 

U.S. stock markets saw gains today as investors eagerly await crucial economic data and earnings reports from major technology companies. The Nasdaq Composite rose by approximately 0.7%, while the S&P 500 and the Dow Jones Industrial Average each increased by about 0.5%.

The market’s positive movement was partly driven by relief over geopolitical tensions in the Middle East, with Israel’s limited retaliatory strikes on Iran focusing solely on military targets. This development led to a significant drop in oil prices, with Brent crude falling nearly 6% to around $71 a barrel.

Investors are particularly focused on the upcoming earnings reports from five of the “Magnificent Seven” tech giants: Alphabet, Apple, Amazon, Microsoft, and Meta. These reports are expected to provide insights into whether investments in artificial intelligence are translating into profits. Additionally, the market is bracing for key economic indicators, including the Federal Reserve’s preferred inflation gauge and the October jobs report, which could influence future interest rate decisions.

Overall, the anticipation of Big Tech earnings and critical economic data has set the stage for a potentially volatile week in the stock market.


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