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Dock employers in British Columbia have decided to lock out workers in response to a union's strike notice, affecting trade at Canada's busiest and third-busiest ports. The lockout follows a 72-hour strike notice given by the International Longshore and Warehouse Union Ship & Dock Foremen Local 514, representing about 730 workers. The union had planned a limited job action, but the employer group cited the potential for escalation as the reason for the lockout. Labor disputes have been ongoing in Canada's west coast ports, with Montreal also experiencing intermittent stoppages. [Extracted from the article]

The 16th United Nations Biodiversity Conference in Cali, Colombia was suspended due to the failure of countries to agree on creating a new global fund for nature. Developing countries pushed for the fund, but objections from the EU, Switzerland, and other developed nations led to the impasse. While the conference has been suspended, agreements already adopted at COP16 remain in effect, including a new fund for countries to protect nature funded by companies using genetic data from the natural world. Delegates had been working to build on a global biodiversity pact adopted in Montreal two years prior. [Extracted from the article]

US air safety regulators are devoting the majority of their resources and overtime hours to Elon Musk's SpaceX, which is the world's leading rocket launch company. The Federal Aviation Administration (FAA) has stated that 80% of their overtime hours are dedicated to SpaceX. The delays in the launch schedule for SpaceX's Starship are primarily due to an ongoing environmental review and changes made by the company to its flight plan. SpaceX has criticized the FAA for taking too long with approvals, while the FAA maintains that it has accommodated SpaceX's changes. The next Starship launch is now expected in November instead of mid-September. [Extracted from the article]

US air safety regulators are devoting the majority of their resources and overtime hours to Elon Musk's SpaceX, which is the world's leading rocket launch company. The Federal Aviation Administration (FAA) has stated that 80% of their overtime hours are dedicated to SpaceX. The delays in the launch schedule for SpaceX's Starship are primarily due to an ongoing environmental review and changes made by the company to its flight plan. SpaceX has criticized the FAA for taking too long with approvals, while the FAA maintains that it has accommodated SpaceX's changes. The next Starship launch is now expected in November instead of mid-September. [Extracted from the article]

Endeavour Mining Plc has reached an agreement to pay its staff at the Sabodala mine in Senegal for overtime work, effectively ending a five-day strike. The UK-based mining company will reimburse workers for extra hours and will resume discussions in December to find a long-term solution. The strike was suspended on August 5th due to concerns about the impact on gold output. The agreement also includes overtime compensation for all staff from July 1, 2021, and the implementation of a new rotation system for executives. [Extracted from the article]

The European Central Bank's preferred measure of pay in the euro-zone showed an increase of 5.1% in the first quarter of 2024, surpassing expectations. This suggests that price pressures in the region are persisting. The ECB is closely monitoring wages as it assesses the impact of the job market, corporate profits, and productivity on inflation. While officials believe that excessive pay pressures are diminishing, they acknowledge that the analysis is complex. The ECB had previously anticipated a slowdown in compensation per employee, but recently released national data indicates a higher rate of 4.7%. [Extracted from the article]

The European Central Bank's preferred measure of pay in the euro-zone showed an increase of 5.1% in the first quarter of 2024, surpassing expectations. This suggests that price pressures in the region are persisting. The ECB is closely monitoring wages as it assesses the impact of the job market, corporate profits, and productivity on inflation. While officials believe that excessive pay pressures are diminishing, they acknowledge that the analysis is complex. The ECB had previously anticipated a slowdown in compensation per employee, but recent data suggests otherwise. [Extracted from the article]

New laws in Australia are being proposed to prevent employers from contacting their workers after hours, in an effort to reduce unpaid overtime. The legislation, known as the "right to disconnect," is part of a broader overhaul of industrial relations changes and is scheduled to be debated in parliament. Similar rules already exist in countries like France and Spain. The proposed amendment has received support from the Greens and a Senate committee, but business groups have expressed concerns about the potential impact on employers. The government is currently consulting with these groups and negotiating cross-bench support. [Extracted from the article]

Boohoo Group Plc, a fast-fashion chain, has cut ties with a UK supplier following allegations of forced overtime at the supplier's warehouse. This comes after a BBC documentary accused Boohoo of pressuring garment suppliers. Boohoo has previously faced a labor supply scandal in 2020, resulting in a governance overhaul. The company's CEO, John Lyttle, stated that efforts to drive down prices from suppliers are temporary due to easing inflation. Boohoo is also closing a warehouse in Leicester and has faced criticism for mislabeling garments. The retailer has experienced challenges as shoppers return to stores post-pandemic and face competition from e-commerce rival Shein. [Extracted from the article]

Japan's trucking industry is facing stricter regulations that could lead to delivery delays starting in April. The new law, which limits overtime for truckers to 960 hours per year, aims to improve work-life balance and health but may exacerbate the existing driver shortage. The government plans to allocate ¥16 billion ($109 million) for measures to alleviate the impact. The shortage of drivers, coupled with Japan's aging population, could result in a 35% shortfall in delivery supply by 2030. The government is exploring various solutions, including promoting rail and ship transportation and digitalizing the industry. However, these proposals face challenges such as the dominance of passenger trains and the lack of staff to manage high-tech solutions. The government is also considering raising highway speed limits for large trucks, although safety concerns have been raised. To mitigate the impact, the government plans to implement a reward system to discourage re-deliveries and encourage the recruitment of more female and foreign workers. The trucking industry's rising fees may affect other industries, with firms in food and drink manufacturing and wholesale expecting negative impacts. Smaller companies may struggle to raise prices and could face bankruptcy. Ultimately, customers may have to choose between slower and higher-cost delivery services or paying more for the convenience they are accustomed to. [Extracted from the article]

Train drivers in the UK will go on strike again in December due to an ongoing dispute over pay and conditions. The Aslef union announced that its members will walk out on various rail lines on a rolling basis and refuse overtime for the first nine days of the month. The Rail Delivery Group has offered drivers a base salary of nearly £65,000 a year for a four-day week and has called on Aslef to end the dispute. The RMT union, which also represents rail workers, has stated that it will not strike in the lead up to Christmas pending a vote by its members. [Extracted from the article]

Big Discounts Davis, now a senior vice president of strategy and investment at Cox Enterprises, said the airline will also likely offer customers a generous travel voucher or discount. (Bloomberg) -- Southwest Airlines Co.'s 2022 nightmare before Christmas is unlikely to inflict long-lasting damage to the carrier's reputation if management compensates customers and makes good on vows of operational changes, communications and management professionals say. [Extracted from the article]

(Bloomberg) -- Southwest Airlines Co.'s 2022 nightmare before Christmas is unlikely to inflict long-lasting damage to the carrier's reputation if management compensates customers and makes good on vows of operational changes, communications and management professionals say. Jordan, Southwest's CEO, has already taken steps to rebuild the public's trust. Big Discounts Davis, now a senior vice president of strategy and investment at Cox Enterprises, said the airline will also likely offer customers a generous travel voucher or discount. [Extracted from the article]

Jordan, Southwest's CEO, has already taken steps to rebuild the public's trust. (Bloomberg) -- Southwest Airline Co.'s 2022 nightmare before Christmas is unlikely to inflict long-lasting damage to the carrier's reputation if management compensates customers and makes good on vows of operational changes, communications and management professionals say. [Extracted from the article]

(Bloomberg) -- The COP27 global climate summit in Egypt entered its final scheduled day with an agreement some distance away. The European Union made an offer late on Thursday to exchange a new fund to pay poorer countries compensation for climate disasters with stronger ambition to mitigate greenhouse gas emissions. [Extracted from the article]

(Bloomberg) -- The COP27 global climate summit in Egypt entered its final scheduled day with an agreement some distance away. The European Union made an offer late on Thursday to exchange a new fund to pay poorer countries compensation for climate disasters with stronger ambition to mitigate greenhouse gas emissions. [Extracted from the article]

The EU proposal would include a commitment to immediately establish a new loss and damage response fund with details worked out over the next year as well as a commitment to examine debt and reform the multilateral development banks. (Bloomberg) -- The COP27 global climate summit in Egypt entered its final scheduled day with an agreement some distance away. [Extracted from the article]

(Bloomberg) -- Overtime costs on New York City's subway system are soaring thanks to staffing shortages after the biggest transit provider in the US froze hiring during the pandemic. The rising costs are a reversal from last year, when overtime expenses were nearly $20 million below estimates during the same period, according to MTA data. [Extracted from the article]

In the last few months, Pollen has struggled to pay employees, vendors and issue refunds to customers, leaving a trail of complaints behind. (Bloomberg) -- The Department of Labor is questioning former employees of the troubled travel and entertainment startup Pollen, seeking information about wages that haven't been paid for weeks, according to people with knowledge of the matter. [Extracted from the article]

To maintain the option to play college basketball, Overtime's players have started to generate money through their own marketing deals, which the NCAA recently allowed, instead of getting paid by Overtime. (Bloomberg) -- Overtime Sports Inc., the digital media company, has raised $100 million in funding to expand its leagues for the next generation of athletes. [Extracted from the article]

(Bloomberg) -- Overtime Sports Inc., the digital sports media company, has raised $100 million in funding to expand its leagues for elite high school athletes. To maintain the option to play college basketball, Overtime's players have started to generate money through their own marketing deals, which the NCAA recently allowed, instead of getting paid by Overtime.". [Extracted from the article]

To maintain the option to play college basketball, Overtime's players have started to generate money through their own marketing deals, which the NCAA recently allowed, instead of getting paid by Overtime." (Bloomberg) -- Overtime Sports Inc., the digital sports media company, has raised $100 million in funding to expand its leagues for elite high school athletes. [Extracted from the article]

As chief executive officer of the nonprofit 4 Day Week Global, O'Connor oversees six-month boot camps now helping 170 companies with 10,000 participating employees around the world to adopt more flexible work schedules. (Bloomberg) -- Joe O'Connor wants to persuade your boss - and everyone's boss - to reduce the workweek to 32 hours. [Extracted from the article]

(Bloomberg) -- When Eric Adams ran for New York City mayor, he made a campaign promise to cut police overtime spending by half. He proposed upping the department's overtime allocation by 4% to $452.6 million and increasing the overall police budget by 3.7% to $5.6 billion, in his executive budget for fiscal 2023. In fiscal 2020, 14,430 NYPD officers worked more than 400 hours of overtime - akin to extending a calendar year of work into March, according to an analysis of 31,221 uniformed officers. [Extracted from the article]

(Bloomberg) -- The Metropolitan Transportation Authority's overtime expenses in 2021 increased by 3% compared with the year before, as the largest U.S. mass-transit system faced staffing shortages because of the coronavirus pandemic. About 12.3% of overtime-eligible employees in 2021 amassed overtime pay that was more than 50% of their base salary, down from almost 17% in 2018. [Extracted from the article]

In some instances, the police officers would book eight hours of overtime for providing protection to Caltrans workers when they actually worked only three or four hours, Bonta said. (Bloomberg) -- Dozens of California Highway Patrol officers allegedly bilked the system of more than $200,000 from 2016 to 2018 with fake overtime claims that weren't uncovered earlier because their supervisors were also involved in the fraud, the state's attorney general said. [Extracted from the article]

Keywords: DKNG; FLTR@LN; HD; ALLTOP; BUSINESS; CMD; CONS; CONSD; COS; INDUSTRIES; NORTHAM; NRG; RET; SPORTS; TEC; TECSVC; US; UTI; WORLD; WWTOP EN DKNG FLTR@LN HD ALLTOP BUSINESS CMD CONS CONSD COS INDUSTRIES NORTHAM NRG RET SPORTS TEC TECSVC US UTI WORLD WWTOP DraftKings Inc. Chief Executive Officer Jason Robins said sports NFTs need to be more than just collectibles, they need to have utility, such access to a video game or online content to make them more valuable. Read more: Blank Discusses Changing the Overtime Rule Robins and Blank both spoke at the Bloomberg Power Players conference in Beverly Hills, California on Friday. [Extracted from the article]

Read more: Blank Discusses Changing the Overtime Rule Robins and Blank both spoke at the Bloomberg Power Players conference in Beverly Hills, California on Friday. Keywords: DKNG; HD; ALLTOP; BUSINESS; CMD; CONS; CONSD; COS; INDUSTRIES; NORTHAM; NRG; RET; SPORTS; TEC; TECSVC; US; UTI; WORLD; WWTOP EN DKNG HD ALLTOP BUSINESS CMD CONS CONSD COS INDUSTRIES NORTHAM NRG RET SPORTS TEC TECSVC US UTI WORLD WWTOP DraftKings Inc. Chief Executive Officer Jason Robins said sports NFTs need to be more than just collectibles, they need to have utility, such access to a video game or online content to make them more valuable. [Extracted from the article]

R75S9OT0G1KW (Bloomberg) -- National Football League owners will take a look at the league's overtime rule this offseason, said Atlanta Falcons owner Arthur Blank. Keywords: ALLTOP; BUSINESS; COS; FIN; GEN; GLOBALMACR; GOV; INDUSTRIES; NORTHAM; POL; SPORTS; TOP; US; WORLD; WWTOP; WWTOPAM EN ALLTOP BUSINESS COS FIN GEN GLOBALMACR GOV INDUSTRIES NORTHAM POL SPORTS TOP US WORLD WWTOP WWTOPAM National Football League owners will take a look at the league's overtime rule this offseason, said Atlanta Falcons owner Arthur Blank. [Extracted from the article]

(Bloomberg) -- Overtime spending at the New York City Police Department is expected to return to pre-pandemic levels, eating into the city's budget as Mayor Eric Adams considers cost-cutting measures. Read More: NYC Cops Exploited Overtime Pay As Violent Crime Rose ©2022 Bloomberg L.P. [Extracted from the article]

(Bloomberg) -- Four NFL playoff games last weekend attracted an average of 38.2 TV million viewers, the most ever for the divisional round of the league's postseason. Thanks to that nail-bitter matchup on Jan. 23, CBS's post-season NFL broadcasts have averaged 35.9 million TV viewers, up 27% from last year and its best in a decade, the network said Tuesday in a statement. [Extracted from the article]

Thanks to that nail-bitter matchup on Jan. 23, CBS's post-season NFL broadcasts have averaged 35.9 million TV viewers, up 27% from last year and its best in a decade, the network said Tuesday in a statement. (Bloomberg) -- About 43 million viewers watched the Kansas City Chiefs' overtime victory over the Buffalo Bills on CBS, giving the broadcaster the most-watched divisional playoff game in five years. [Extracted from the article]

"Russia is not afraid of NATO forces, Russia is afraid of Ukraine's democracy", Karins told the broadcaster on Wednesday. (Bloomberg) -- The U.S. urged Moscow to make a choice about whether it wants to de-escalate its activities near Ukraine after NATO allies and Russia met in Brussels on Wednesday without agreeing on the next diplomatic steps. [Extracted from the article]

"Russia is not afraid of NATO forces, Russia is afraid of Ukraine's democracy", Karins told the broadcaster on Wednesday. (Bloomberg) -- A meeting between senior Russian and NATO officials in Brussels is running longer than scheduled as the two sides continue their diplomatic push to ease tensions over Moscow's troop build-up near Ukraine. [Extracted from the article]

(Bloomberg) -- A meeting between senior Russian and NATO officials in Brussels is running longer than scheduled as the two sides continue their diplomatic push to ease tensions over Moscow's troop build-up near Ukraine. "Russia is not afraid of NATO forces, Russia is afraid of Ukraine's democracy", Karins told the broadcaster on Wednesday. [Extracted from the article]

Russia is insisting that NATO must never let Ukraine or other ex-Soviet states such as Georgia join the alliance, calling it an issue of national security. (Bloomberg) -- A meeting between senior Russian and NATO officials in Brussels is running longer than scheduled as the two sides continue their diplomatic push to ease tensions over Moscow's troop build-up near Ukraine. [Extracted from the article]

Russia is insisting that NATO must never let Ukraine or other ex-Soviet states such as Georgia join the alliance, calling it an issue of national security. (Bloomberg) -- A meeting between senior Russian and NATO officials in Brussels is running longer than scheduled as the two sides continue their diplomatic push to ease tensions over Moscow's troop build-up near Ukraine. [Extracted from the article]

"We have designed this faster levy claim process to protect both consumers directly affected by supplier insolvencies and all consumers who will have to pay these costs." U.K. energy companies will be repaid the cost of taking on the customers of bankrupt suppliers sooner than expected, adding further upward pressure to household bills from April. [Extracted from the article]

(Bloomberg) -- Air traffic for the Thanksgiving holiday is expected to approach pre-pandemic levels and travelers are likely considering their plans with some dread, given fresh memories about thousands of canceled flights. "People are wanting to travel, wanting to go see family over the holiday or travel over the holiday", Parker said. [Extracted from the article]

COP Talks Could Run Into the Weekend (10:09 a.m.) European officials are preparing for talks to run into extra time, even as COP26 President Alok Sharma has insisted the climate summit should end on time at 6 p.m. on Friday. (Bloomberg) -- Delegates are starting to make plans for COP26 to run beyond its scheduled end on Friday evening, but Covid-related travel restrictions raise the stakes for quick action. [Extracted from the article]

A U.S.-China agreement to work on climate this decade breathed some life into the summit, but it won't resolve the tough tasks COP delegates face over the next few days. (Bloomberg) -- Delegates are starting to make plans for COP26 to run beyond its scheduled end on Friday evening, but Covid-related travel restrictions raise the stakes for quick action. COP Talks Could Run Into the Weekend (10:09 a.m.) European officials are preparing for talks to run into extra time, even as COP26 President Alok Sharma has insisted the climate summit should end on time at 6 p.m. on Friday. [Extracted from the article]

A U.S.-China agreement to work on climate this decade breathed some life into the summit, but it won't resolve the tough tasks COP delegates face over the next few days. (Bloomberg) -- Delegates are starting to make plans for COP26 to run beyond its scheduled end on Friday evening, but Covid-related travel restrictions raise the stakes for a quick agreement. [Extracted from the article]

A U.S.-China agreement to work on climate this decade breathed some life into the summit, but it won't resolve the tough tasks COP delegates face over the next few days. (Bloomberg) -- Delegates are starting to make plans for COP26 to run beyond its scheduled end on Friday evening, but Covid-related travel restrictions raise the stakes for a quick agreement. [Extracted from the article]

China Crackdowns Multiply as Xi Pushes for "Common Prosperity" Keywords: ALLTOP; ASIA; ASIATOP; BON; BUSINESS; CHINA; COS; GEN; GOV; HAR; INDUSTRIES; LAW; MARKETS; POL; STK; TEC; TECHTOP; TECSVC; TMT; TOP; WORLD; WWTOP; WWTOPAM; WWTOPAS; WWTOPEU EN ALLTOP ASIA ASIATOP BON BUSINESS CHINA COS GEN GOV HAR INDUSTRIES LAW MARKETS POL STK TEC TECHTOP TECSVC TMT TOP WORLD WWTOP WWTOPAM WWTOPAS WWTOPEU China's regulatory onslaught shows no signs of slowing as President Xi Jinping tries to remake the world's second-largest economy. ALLTOP, ASIA, ASIATOP, BON, BUSINESS, CHINA, COS, GEN, GOV, HAR, INDUSTRIES, LAW, MARKETS, POL, STK, TEC, TECHTOP, TECSVC, TMT, TOP, WORLD, WWTOP, WWTOPAM, WWTOPAS, WWTOPEU. [Extracted from the article]

Founder Colin Huang will be replaced by Lei Chen, who keeps his chief executive officer title, the company said in a statement Wednesday. (Bloomberg) -- Pinduoduo Inc.'s billionaire chairman has stepped down from the board, relinquishing control of China's fastest-growing e-commerce company the same day it announced its user base had surpassed Alibaba Group Holding Ltd.'s. Huang is saddling his co-founder Chen with the task with sustaining an extraordinary pace of growth. [Extracted from the article]

(Bloomberg) -- Pinduoduo Inc.'s billionaire chairman has stepped down from the board, relinquishing control of China's fastest-growing e-commerce company the same day it announced its user base had surpassed Alibaba Group Holding Ltd.'s. After stepping down from the role of chairman, Huang will give up the 1:10 super voting rights attached to his shares in Pinduoduo. [Extracted from the article]

Despite heavy marketing expenses, Pinduoduo's marketplace model can sustain high gross margin, and could deliver a profit as revenue achieves greater scale. (Bloomberg) -- Pinduoduo Inc.'s quarterly revenue more than doubled, affirming its lead as the fastest-growing giant in China's booming e-commerce market. [Extracted from the article]

(Bloomberg) -- Norwegian oil workers reached an agreement with their employers in overtime talks, averting a strike at the country's biggest refinery. The disagreement between oil giant Equinor ASA and refinery workers had proved so intractable that a state mediator had to be called in. [Extracted from the article]

(Bloomberg) -- For the last year, Dr. Daniel Fagbuyi said he has worked 12- to 14-hour shifts as an emergency room physician treating patients who have been struck by Covid-19, the disease caused by the coronavirus. Fagbuyi is just one of dozens of Black doctors and medical professionals who have taken it upon themselves to counter Covid-19 misinformation, which has proliferated on the app alongside the surge in new users. [Extracted from the article]

(Bloomberg) -- European authorities are pushing for a compressed approval timeline for the Covid-19 vaccine from Pfizer Inc. and BioNTech SE, according to people familiar with the plan, which could enable a rollout on the continent before Christmas. That process requires a higher evidence level, the EU commission's directorate-general for health said this week. [Extracted from the article]