Exclusive: ECB union says staff losing faith in leadership over inflation, pay

Exclusive: ECB union says staff losing faith in leadership over inflation, pay

40% of ECB staff has low or no trust Two-thirds say confidence is damaged 63% worried about ECB’s ability to protect purchasing power FRANKFURT, Jan 18 (Reuters) – (This Jan. 17 story has been corrected to restore the dropped words in paragraph 11) European Central Bank staff are losing confidence in the institution’s leadership following … Read more

Turkey’s Erdogan drops retirement age requirement for millions

Turkey’s Erdogan drops retirement age requirement for millions

ANKARA, Dec 28 (Reuters) – President Tayyip Erdogan eliminated a retirement age requirement on Wednesday in a move that allows more than 2 million Turkish workers to retire immediately, less than six months before an election. The announcement was made during a news conference and follows Erdogan’s ruling AK Party delivering a hefty hike to … Read more

U.S. labor market shrugs off recession fears; keeps Fed on tightening path

U.S. labor market shrugs off recession fears; keeps Fed on tightening path

Nonfarm payrolls increase 263,000 in November Unemployment rate steady at 3.7%; participation rate falls Average hourly earnings rise 0.6%; up 5.1% year-on-year WASHINGTON, Dec 2 (Reuters) – U.S. employers hired more workers than expected in November and increased wages, shrugging off mounting worries of a recession, but that will probably not stop the Federal Reserve … Read more

U.S. job growth seen smallest in nearly two years in October, unemployment rate up

U.S. job growth seen smallest in nearly two years in October, unemployment rate up

Nonfarm payrolls forecast increasing 200,000 Unemployment rate seen rising to 3.6% from 3.5% Average hourly earnings expected to gain 0.3% WASHINGTON, Nov 4 (Reuters) – U.S. employers likely hired the fewest workers in nearly two years in October and increased wages at a moderate pace, suggesting some loosening in labor market conditions, which would allow … Read more

TotalEnergies clocks $9.9 bln profit in Q3, books new Russian impairment

TotalEnergies clocks $9.9 bln profit in Q3, books new Russian impairment

PARIS, Oct 27 (Reuters) – TotalEnergies (TTEF.PA) posted a sharp jump in its third quarter net profit compared with a year ago, as it joined other energy giants in its sector to have benefited from higher oil and gas prices, although it also booked a new Russia-related impairment. TotalEnergies’ third-quarter adjusted net income stood at … Read more

France begins nationwide strike amid soaring inflation

France begins nationwide strike amid soaring inflation

PARIS, Oct 18 (Reuters) – French trade unions began a nationwide strike on Tuesday, asking for higher salaries amid decades-high inflation and posing President Emmanuel Macron one of his stiffest challenges since his reelection in May. The strike, which will primarily affect public sectors such as schools and transportation, is an extension of the weeks-long … Read more

More U.S. companies charging employees for job training if they quit

More U.S. companies charging employees for job training if they quit

WASHINGTON, Oct 17 (Reuters) – When a Washington state beauty salon charged Simran Bal $1,900 for training after she quit, she was shocked. Not only was Bal a licensed esthetician with no need for instruction, she argued that the trainings were specific to the shop and low quality. Bal’s story mirrors that of dozens of … Read more

Thousands take to the streets of Paris to protest soaring prices

Thousands take to the streets of Paris to protest soaring prices

PARIS, Oct 16 (Reuters) – Thousands of people took to the streets of Paris on Sunday to protest against soaring prices as weeks of strikes for higher wages at oil refineries spurred demands for a general strike. The leader of hard-left party La France Insoumise (France Unbowed), Jean-Luc Melenchon, marched alongside this year’s Nobel Prize … Read more

UK’s Truss expected to fire Kwarteng – Times

UK’s Truss expected to fire Kwarteng – Times

Kwarteng leaves IMF meeting early Pressure mounts for a U-turn over tax policy Pound, bond prices recovering PM Truss now faces political fight LONDON, Oct 14 (Reuters) – British Prime Minister Liz Truss will fire her finance minister Kwasi Kwarteng and scrap parts of their economic package, the Times newspaper reported on Friday, in a … Read more

France orders some fuel staff back to work to tackle refineries strike

France orders some fuel staff back to work to tackle refineries strike

PARIS, Oct 11 (Reuters) – The French government on Tuesday said it would requisition staff at some petrol depots as it battles to secure petrol supplies following weeks-long strikes, putting it on a collision course with the hardline CGT union as social tensions rise. After shying away at first from interfering in labour disputes pitting … Read more