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0ur Correspondent Michelle Fleury is at the Port Of Newark in newjersey. Tell us what s going on there and all along the coast. We know the strike is about wages and automation, what s going on with the talks . Right now theres not much going on on on the docks, normally you might see some of the grains over their moving, containers being loaded, and off loaded from giant containerships, but all of that stopped at midnight last night. That is when the Master Contract between the union workers and the us Maritime Alliance expired, and the fight over wages and automation continues to rage and there is little agreement between them on this issue. So right now we are one of the Picket Lines here in newjersey, where workers have gathered short while ago, they stood in a long line singing, no automation, no automation. And we ve heard from the White House in the last few hours ....
In cutting the cost of borrowing for the first time in overfour years. The Federal Reserve have dropped the main Interest Rate in the worlds biggest economy by half a percentage point, bringing it down to between 4. 75 and 5 . A drop larger than many expected, with some wondering now if this reflects the scale of the problems facing the american economy or the success in getting the pace of price rises, inflation, close to the banks targets. The governor of the fed, Jerome Powell says the us economy is in good shape and they intend to keep it that way. Our North America Business correspondent Ritika Gupta has the details. The Federal Reserve has delivered a super sized Interest Rate cut aimed at bolstering the us Labour Market. The 0. 5 percentage cut, the first in ov ....
I m ritika gupta. Welcome to business today, live from New York, us shares have made a strong start this thursday as investors wrap their heads around Thatjumbo Half Percent cut in Interest Rates from the Federal Reserve and later comments from chairjerome powell. Was it a Panic Measure in response to a sharp slowdown in the economy . Traders remember similar moves just before the Dotcom Crash the Global Financial Crisis and the pandemic. Well, in his Press Conference Mr powell was keen to dispel any such negative thoughts. The us economy is in a good place and our Decision Today is designed to keep it there. More specifically the economy is growing at a solid pace. Inflation is coming down closer to our 2 objective over time and the Labour Market is still in solid shape. Our intention is really to maintain the strength that we currently see in the us economy. Lets bring ....
For the Iam Union explained why members had rejected the proposed contract and voted for strike action. While there were many important things that were in this offer, it didnt make up, it didnt bridge the gap for 16 years, from 2008, and going through two extensions and the threats ofjob loss. You know, stagnated wages, Cost Shift on healthcare, and many other issues, and especially relocation of thousands of jobs for other programmes leaving the state. Lets get the latest with our business correspondent, theo leggett. There is more to this than just rejecting a 25 pay rise, isnt there . There are grievances Dating Back over 15 years and a lot of history to others because absolutely a list goes back a long ....
Massive fines if they dont act. Im Still Standing better than i ever did. Brexit ended visa free travel to the eu for musicians. Now, eltonjohn tells us why it will hit so many young performers. And coming up, a Hollywood Gladiator sends a surprise Birthday Message to a british sailor taking part in a round the world yacht race. Good evening and welcome to bbc news. The Prime Minister has thanked all those who have helped the uk to reach a milestone in its Vaccination Programme ten Million People have now received a first dose. But borisjohnson also issued a warning, describing the levels of covid 19 infections as alarmingly high. He said tha ....