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Amazon workers say Prime Day rush breaks virus safety vows: Bloomberg News By Reuters

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© Reuters. Signage is seen at an Amazon facility in Bethpage on Long Island in New York

(Reuters) – Amazon.com Inc (NASDAQ:) has reinstated warehouse productivity quotas despite telling a judge it was suspending them during the COVID-19 pandemic, Bloomberg News reported on Wednesday, citing a court filing by company workers.

The lawsuit claims the company’s “oppressive and dangerous” policies violated public-nuisance laws and exacerbated COVID-19 hazards, according to the report.

The employees at a warehouse in Staten Island, New York claimed that Amazon had not been honest and forthcoming with plaintiffs or the court about not disciplining workers for falling short of the company’s quotas for the number of tasks they complete each hour, Bloomberg reported.

Amazon says worker safety is its top priority, but employees at several facilities in different states claim their well-being takes a back seat to quickly shipping customers’ orders, Bloomberg reported.

“We have reinstated a portion of our process where a fraction of employees, less than 5% on average, may receive coaching for improvement as a result of extreme outliers in performance,” Amazon spokeswoman Rachael Lighty said in a statement.

All of the company’s measures continue to provide additional time for workers to practice social distancing, wash their hands and clean their work stations whenever needed, Lighty added.

German trade union Verdi had called on workers at seven Amazon warehouses to go on two-day strike over better pay and conditions on Tuesday to coincide with the global Prime Day promotion event.

During the annual shopping event that spans several countries, Amazon typically offers heavy discounts and free shipping for its Prime members to boost sales.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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Netflix misses estimates for paid subscriber additions By Reuters

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© Reuters. FILE PHOTO: The Netflix logo is seen on their office in Hollywood, Los Angeles

(Reuters) – Netflix Inc (O:) on Tuesday missed expectations for paid subscriber additions in the third quarter, hit by rising streaming competition and the return of live sports to television.

The company said it added 2.2 million paid subscribers globally during the quarter ended Sept. 30, compared with analysts’ estimates for 3.4 million, according to IBES data from Refinitiv.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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Dow Jumps on Cyclicals Boost as Pelosi Touts Stimulus Deal Optimism By Investing.com

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© Reuters

By Yasin Ebrahim

Investing.com – The Dow rose Tuesday as economy-linked cyclical stocks climbed after House Speaker Nancy Pelosi touted optimism over getting a deal on stimulus, though said differences on key issues remain ahead of today’s deadline.

The rose 0.92%, or 159 points. The was up 1.07%, while the added 1.01%.

Pelosi suggested progress had been made with the White House on recent stimulus talks and she was hopeful a deal could be brokered by the end of the day. The house speaker conceded, however, that state and local money along with business liability remained sticking points.

Both renewed talks at 3PM ET today, after negotiations a day earlier helped chip away at differences.

The remarks firmed up expectations a deal could be in the offing after White House economic advisor Larry Kudlow signaled uncertainty.

Stocks tied to the economy like industrials, materials and financials racked up gains intraday.

Financials got a boost from rising banking stocks, with Goldman Sachs (NYSE:) in the spotlight, up more than 2%, after the latter was reported to have reached a deal with the U.S. Department of Justice to pay over $2 billion for its role in the 1MDB scandal.

JPMorgan Chase (NYSE:) and Wells Fargo (NYSE:) were up more than 1%, while Citigroup (NYSE:) added more than 2%.

In tech, meanwhile, further signs of a government crackdown on the monopoly power of large cap tech did little to dent investor sentiment on the sector.

The U.S. government filed an antitrust lawsuit against Google on allegations it had violated competition law to preserve its monopoly over internet searches and online advertising.

Google-parent Alphabet (NASDAQ: rose more than 2%, while Facebook (NASDAQ:), Apple (NASDAQ:) and Microsoft (NASDAQ:). Amazon.com (NASDAQ:) jumped 3%.

Elsewhere in tech, International Business Machines (NYSE:) fell 6% after reporting a third straight quarterly decline in revenue and keeping its guidance sidelined amid uncertainty from the ongoing pandemic.

Procter & Gamble (NYSE:) was up more than 0.5% after raising its guidance and reporting quarterly results that topped Wall Street estimates in the wake of a pandemic-led boost to demand for its household products.

In other news, cash-strapped move chain AMC Entertainment (NYSE:) slumped more than 12% after warning of possible bankruptcy as it continues to seek additional liquidity to plug the financial hole as a result of the pandemic.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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Canada working on possible aid for the airlines and travel sector, says finance minister By Reuters

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© Reuters. Canada’s Deputy Prime Minister and Minister of Finance Chrystia Freeland takes part in a news conference on Parliament Hill in Ottawa

OTTAWA (Reuters) – The Canadian government is very aware of the challenges facing airlines and the travel sector during the coronavirus pandemic and is working on possible aid, Finance Minister Chrystia Freeland said on Tuesday.

Freeland said she had spoken to the heads of Canada’s major airlines and unions last week but did not give details. Carriers and travel industry executives have repeatedly urged Ottawa for assistance as passenger numbers slump.

“We are obviously aware of the particular challenges that the travel sector, the airlines are facing right now,” she told a news conference when asked about an aid package.

“It’s definitely an issue we are looking at closely and working on,” she said.

Airlines have already received more than C$1 billion ($763 million) from a wage subsidy program that Ottawa introduced to help businesses deal with the pandemic, she said.

Intergovernmental Affairs Minister Dominic LeBlanc told CTV on Sunday that Ottawa might take a stake in major airlines such as Air Canada and WestJet Airlines. Both carriers have suspended dozens of routes.

The Canadian branch of the International Association of Machinists and Aerospace Workers on Tuesday urged Freeland to consider partially or fully nationalizing Air Canada.

Earlier this month major labor unions said the aviation sector would suffer permanent damage unless Ottawa provided a C$7 billion 10-year low-interest loan to offset the effects of the pandemic.

($1=1.3113 Canadian dollars)

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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