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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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Wall Street Shaken by Surging Inflation: Rate Cut Hopes Dashed

 

In a dramatic turn of events, Wall Street is grappling with the aftermath of scorching U.S. inflation data. The Federal Reserve’s rate cut hopes have been dashed, leaving investors on edge.

January, February, and March have all witnessed inflation reports hotter than anticipated. The fear now looms that inflation may be stubbornly entrenched. For shoppers, this translates to potential pain at the checkout counter as prices soar. But for Wall Street, it’s a different kind of anxiety.

The Federal Reserve has been cautiously eyeing inflation trends. After a promising cooldown last year, the recent surge has raised concerns. The central bank’s goal of achieving sustainable inflation around 2% now seems elusive. Traders, who had been banking on interest rate cuts, are left in limbo.

The S&P 500 dropped 0.9%, while the Dow Jones Industrial Average plummeted 1.1%. Nasdaq also felt the heat, falling 0.8%. Treasury yields spiked, adding pressure to the stock market. Bond prices tumbled, and gold lost its luster. The yield on the 10-year Treasury surged to 4.54%, signaling unease.

Stay tuned as the financial landscape grapples with this inflationary tempest. The Fed’s next move remains uncertain, and investors are bracing for impact.


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