Business
Boeing Offers 25% Pay Increase to Avert Strike as Crucial Vote Looms
![](https://brio.ng/wp-content/uploads/2024/07/boeingjpg.jpg)
Boeing is offering its employees a significant 25% pay raise over four years in an effort to avoid a potential strike that could halt its production lines as early as Friday. The offer has been hailed as a “historic” deal by company executives and union leaders alike, with union representatives urging more than 30,000 workers in the Seattle and Portland areas to approve the agreement in a crucial vote set for Thursday.
The proposed deal, negotiated by the International Association of Machinists and Aerospace Workers (IAM) union, includes not only the pay increase but also enhanced healthcare and retirement benefits, 12 weeks of paid parental leave, and a commitment from Boeing to build its next commercial airplane in the Seattle area if the project is initiated during the contract’s duration. Additionally, the deal gives union members greater input on safety and quality issues, a key concern amid Boeing’s recent challenges.
If ratified, this would mark the first full labor agreement between Boeing and the unions in 16 years, potentially bringing stability after years of strained relations. The current contract, originally negotiated in 2008 after an eight-week strike and extended in 2014, is set to expire this week.
While the offer falls short of the union’s initial demand for a 40% pay increase, IAM leaders have praised the deal as the best they’ve ever negotiated and strongly recommend its acceptance. However, should the proposal be rejected, a second vote would need to secure a two-thirds majority for a strike to proceed, putting Boeing’s new CEO, Kelly Ortberg, in a high-stakes situation as he seeks to navigate the company through ongoing quality and reputational challenges.
Business
Iceland Demands Supermarket Rivals Stop Selling Prawn Rings
![](https://brio.ng/wp-content/uploads/2024/09/iceland-prawn.jpeg)
Supermarket chain Iceland has filed a trademark application for its well-known “King Prawn Rings,” urging rival supermarkets to stop selling similar products. Iceland, headquartered in Flintshire, claims it has faced increasing imitation since introducing its prawn rings in 1991.
In a bold open letter shared on social media platform X (formerly Twitter), Iceland called out major competitors Aldi, Tesco, Lidl, and Asda, accusing them of selling “copy crustaceans.” The letter cheekily asserted, “The King Prawn Ring is ours, and we won’t be letting you off the hook.”
Lidl humorously responded, “Here was us thinking it was a classic 1970s party dish.”
Iceland’s letter, signed by “Iceland Foods,” warned other retailers to cease selling prawn rings, especially ahead of Christmas. The chain emphasized its intent to pursue legal action if competitors don’t comply, declaring, “Our lawyers are more than ready to dive into legal waters.”
The prawn ring battle has sparked social media buzz, with consumers eagerly watching how rival supermarkets will respond to Iceland’s trademark claim.
Business
Boeing Workers Reject Latest Pay Offer Despite 30% Rise, Union Says
![](https://brio.ng/wp-content/uploads/2024/07/boeingjpg.jpg)
The union representing striking Boeing workers has stated that its members are not interested in the company’s latest pay proposal, which includes a 30% raise over four years. According to the International Association of Machinists and Aerospace Workers (IAM), a survey revealed overwhelming dissatisfaction with the offer, labeling it as “inadequate.”
This rejection follows Boeing’s new “best and final” offer, which also included a performance bonus reinstatement, improved retirement benefits, and a one-time $6,000 signing bonus. The company set a deadline for the deal to be ratified by union members by midnight on September 27.
However, IAM criticized Boeing for sending the offer directly to workers and the media without consulting union leaders and stated that the time frame was insufficient to organize a proper vote. Boeing has denied the union’s claims and said it would allow more time and provide support to facilitate the vote.
Business
China Unveils Bold Measures to Revive Economy Amid Growth Concerns
![](https://brio.ng/wp-content/uploads/2024/09/china-currency.jpeg)
China’s central bank, the People’s Bank of China (PBOC), has launched a significant package of measures aimed at revitalizing its struggling economy. PBOC Governor Pan Gongsheng announced plans to lower borrowing costs and allow banks to expand lending to stimulate economic activity.
With recent economic data raising concerns that China may miss its 5% growth target this year, the central bank will cut the reserve requirement ratio (RRR)—the amount of cash banks must hold in reserve—by half a percentage point, releasing around 1 trillion yuan ($142 billion) into the economy. Additional cuts may follow later in the year.
The package also addresses China’s property market crisis by cutting interest rates for existing mortgages and reducing minimum down payments for all homes to 15%.
Asian stock markets responded positively to the news, seeing a boost after Mr. Pan’s announcement, which came during a rare joint press conference with officials from two other financial regulators.
-
Spotlight4 days ago
Top Legal Pitfalls Employers Must Avoid to Prevent Wrongful Termination Claims
-
Sports3 days ago
‘Haaland throwing ball at Gabriel a coward’s move’
-
Business4 days ago
British Airways Suspends Summer 2025 Flights from Southampton Airport
-
Sports4 days ago
Barcelona’s Ter Stegen to Undergo Knee Surgery After Injury
-
News4 days ago
Japan Battles Devastating Floods Following Record Rainfall, Six Dead
-
Entertainment4 days ago
Deadline Set for Bids on Historic Peter Pan House in Dumfries
-
Sports4 days ago
Stones Snatches Late Equaliser to Deny Arsenal Victory at Etihad
-
News2 days ago
Caroline Ellison Sentenced to Two Years in Prison, Ordered to Forfeit $11 Billion in FTX Fraud Case