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Futures News, May 8th - According to foreign media reports, soybean oil futures on the Chicago Board of Trade (CBOT) closed sharply lower on Thursday, with the benchmark contract down 1.2%, following the decline in international crude oil futures. International crude oil prices fell on Thursday due to concerns that the US might resume escort duties in the Strait of Hormuz. This put downward pressure on the Chicago soybean oil market. Weak US soybean oil export sales also weighed on prices. The US Department of Agricultures weekly export sales report showed that for the week ending April 30, 2026, net sales of US soybean oil for the 2025/26 marketing year were 1,000 tons, down 72% from the previous week and 15% from the four-week average. This data was in line with market expectations.On May 8th, according to foreign media reports, Chicago Board of Trade (CBOT) corn futures closed slightly lower on Thursday, with the benchmark contract down 0.3%, mainly reflecting weak U.S. corn export sales and continued declines in international crude oil futures. Traders said the benchmark contract fell for the third consecutive trading day, following the decline in the international crude oil market. However, technical buying at the end of the session helped the corn market recover some lost ground. Weak corn export sales data also put pressure on corn prices. The U.S. Department of Agricultures weekly export sales report showed that for the week ending April 30, 2026, net sales of U.S. corn for the 2025/26 marketing year were 1,361,700 tons, down 15% from the previous week and down 4% from the four-week average, in line with market expectations. Net sales for the 2026/27 marketing year were 122,800 tons, with no sales a week earlier. According to precipitation maps released by the National Oceanic and Atmospheric Administration (NOAA), parts of the eastern Corn Belt may receive up to 0.75 inches of rain from Friday through Monday, while parts of the central-southern and southeastern regions will also continue to experience rainfall.May 8th - According to the official website of the China Securities Regulatory Commission (CSRC), Kunlun Core (Beijing) Technology Co., Ltd. officially launched its IPO preparation on May 7th, 2026, with China International Capital Corporation Limited (CICC) serving as the IPO advisor.1. The three major U.S. stock indexes closed slightly lower. The Dow Jones Industrial Average fell 0.63% to 49,596.97 points, the S&P 500 fell 0.38% to 7,337.11 points, and the Nasdaq Composite fell 0.13% to 25,806.2 points. Caterpillar fell more than 3%, and JPMorgan Chase fell more than 2%, leading the decline in the Dow. The Wind U.S. Tech Big Seven Index rose 0.69%, Tesla rose more than 3%, and Nvidia rose more than 1%. The Nasdaq China Golden Dragon Index fell 1.4%, Tiger Brokers fell more than 7%, and Pony.ai fell more than 6%. The Nasdaq and S&P 500 indexes fell after hitting intraday highs. 2. The three major European stock indexes all closed lower. The German DAX fell 1.02% to 24,663.61 points, the French CAC40 fell 1.17% to 8,202.08 points, and the UK FTSE 100 fell 1.55% to 10,276.95 points. 3. Most major Asia-Pacific stock indices closed higher. The Nikkei 225 surged 5.58% to close at 62,833.84 points, while the Korea Composite Stock Price Index (KOSPI) rose 1.43% to 7,490.05 points, both hitting new record highs. South Koreas stock market capitalization surpassed Canadas, becoming the worlds seventh-largest stock market. Funds continued to favor AI-related stocks, with SoftBank Group surging over 18%, KaiXia rising 19%, SK Hynix gaining over 3%, and Samsung Electronics climbing 2%. Indias SENSEX 30 index fell 0.15% to 77,844.52 points. 4. The WTI crude oil futures contract closed up 2.71% at $97.66 per barrel; the Brent crude oil futures contract rose 2.07% to $103.37 per barrel. 5. International precious metals futures generally closed higher, with COMEX gold futures rising 0.04% to $4,696.00 per ounce and COMEX silver futures rising 2.09% to $78.92 per ounce. 6. Most London base metals fell. LME zinc rose 1.41% to $3,447.0/ton, LME lead was unchanged at $1,977.5/ton, LME tin fell 0.29% to $53,650.0/ton, LME nickel fell 0.44% to $19,115.0/ton, LME copper fell 0.51% to $13,323.5/ton, and LME aluminum fell 0.92% to $3,490.0/ton.South Koreas unadjusted current account balance for March was $37.33 billion, revised from $23.1927 billion in the previous month.

Amazon Files a Grievance Against the Union's Victory in New York, Claiming Collusion

Haiden Holmes

Apr 08, 2022 10:02

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The United States' National Labor Relations Board (NLRB) has given Amazon until April 22 to substantiate its opposition to last week's poll in New York, in which Staten Island employees chose to create the company's first union in the United States. Amazon sought more time to provide evidence due to the "substantial" nature of its concerns, the company said in a filing Wednesday.


A verified election outcome would give organized labor a footing in the second biggest private employer in the United States, with the ability to affect how Amazon conducts its finely calibrated business.


Around 55% of employees at Amazon's JFK8 warehouse in the New York City borough of Staten Island who participated in the election chose to join the Amazon Labor Union (ALU), which has requested more compensation and job security. Since then, the union has been approached by employees at an additional 50 Amazon locations in the United States, according to the group's chairman.


Amazon's lawsuit said that company intends to challenge the decision on the grounds that the ALU interfered with workers in line to vote and that extended wait times decreased participation. Approximately 58% of eligible voters voted in person across many days.


Eric Milner, an attorney with the legal firm Simon & Milner who represents the ALU, denounced Amazon's assertions as bogus and said that they will be overturned.


"To assert that the Amazon Labor Union threatened staff is ludicrous," he said. "The Amazon Labor Union is composed entirely of Amazon workers."


Separately, the RWDSU expressed opposition on Thursday to an election in Bessemer, Alabama, in which Amazon employees voted against unionization. It was the second election in Bessemer, after the NLRB's determination that Amazon intervened unfairly in the last election there last year. The most recent results are still pending due to hundreds of contested votes and now the RWDSU's objections, which may prolong the process by months.


"We want our workers' votes to be heard," Amazon spokeswoman Kelly Nantel said. "We hope the NLRB considers every legitimate vote."


The RWDSU said in a filing that Amazon unjustly deleted pro-union information from non-work locations and dismissed one employee for speaking out in support of the union during required work sessions. The RWDSU said that these were sufficient reasons for the NLRB to vacate the decision.


Amazon expressed dissatisfaction with the RWDSU's activities, including the union's discussions with employees about the usage of a mailbox on warehouse property, but said that raising objections was regular procedure.


The company will have a difficult time showing that the New York union breached regulations governing employee involvement, according to John Logan, a labor expert at San Francisco State University.


Additionally, the NLRB often takes employer-related claimed breaches more seriously than union-related alleged violations, he said, since businesses wield more authority over employees.


"It's going to be really difficult" for Amazon, he said.