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On May 10th, Canadian Prime Minister Mark Carney stated at a political conference in Toronto on Saturday that Canada is willing to establish closer trade ties with the United States and Mexico in specific industries to boost the North American economy. He mentioned the "North American Fortress" initiative but did not specify any particular sectors. Carney indicated that if this approach fails, Canada will invest heavily in new markets and new products. The United States, Mexico, and Canada are scheduled to begin reviewing a trade agreement this year. Trump has already imposed tariffs on products such as automobiles and steel, disrupting the closely intertwined supply chains among the three countries. Carney had previously set a goal of doubling exports to countries outside the United States within ten years.The Bahraini Foreign Minister demanded that Iran cease its aggressive and provocative actions against Bahrain and other countries in the region, as well as its egregious interference in their internal affairs.Bahrains Foreign Minister: Bahrain condemns and strongly condemns Irans continued interference in its internal affairs and its actions that threaten the security and stability of the Gulf states.Commander of the Aerospace Force of the Iranian Islamic Revolutionary Guard Corps: The Aerospace Forces missiles and drones have locked onto the enemy, and we are awaiting the order to launch.On May 10th, local time, the final vote count for the 136th Local Council of England was released, completing the election results for the English Local Council, as well as the Scottish and Welsh Parliaments. In this election, both of Britains traditional two major parties, the Labour Party and the Conservative Party, suffered significant setbacks, while the Reform Party, the Green Party, and other parties saw a marked increase in strength, further highlighting the trend of "fragmentation" in British politics. Data shows that in the English Local Council elections, the Reform Party won 1453 seats, becoming one of the biggest winners; the Labour Party won 1063 seats; and the Conservative Party won 801 seats. Analysts believe that this British local election demonstrates that the traditional two-party (Labour and Conservative) dominance in Britain is being significantly challenged. British politics is further developing towards multi-party competition and political fragmentation.

United States Railroad Investor Resolutions Support Paid Sick Leave

Haiden Holmes

Dec 06, 2022 11:40

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Investors at two U.S. railroads have presented shareholder resolutions demanding paid sick leave for employees, an issue that nearly resulted in a nationwide train strike. These resolutions may be placed to a vote during spring shareholder meetings.


President Joe Biden signed legislation on Friday to prevent a train shutdown that might have wreaked havoc on the American economy. However, the agreement he authorized did not include paid sick days for employees, a major sticking point for unions during contract discussions with the five main railroads in the United States.


Activist investor proposals obtained by Reuters require Norfolk Southern Corp (NYSE:NSC) and Union Pacific Corp (NYSE:UNP) to offer a "reasonable amount" of paid sick leave, as decided by the companies' boards of directors. If adopted, each resolution would be placed on the vote at the spring shareholder meetings of railroad companies.


Kate Monahan, a director at Trillium Asset Management and the socially responsible investor who submitted the resolution at Union Pacific, argued that flexible sick leave would have additional benefits, such as a decrease in staff turnover.


"There is a clear business case that makes sense to us as investors," she remarked.


A Union Pacific official refrained from commenting on the resolution, but cited a trade group's argument that employees in the industry already receive significant time and leave for chronic conditions.


A Norfolk Southern spokesperson declined to comment.


During the COVID-19 epidemic, worker welfare motions at business annual meetings have attracted increased support in recent years. Voting on the resolutions had no legal ramifications.


The railroad sector is afraid that the implementation of paid sick leave would entail more personnel at a time when many businesses have dramatically decreased their workforces. In an investor letter dated November 30, Susquehanna analyst Bascome Majors stated that if sick leave had been included in recent federal legislation, it would have lowered U.S. rail profitability by 1.5% to 2%.

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