- What is microRNA? Nobel-winning discovery explained
- Weather may delay launch of mission to study deflected asteroid
- China to flesh out economic stimulus plans after bumper rally
- Asian markets track Wall St rally on US jobs data
- World marks anniversary of Oct. 7 attack on Israel
- Asian markets track Wall St rally on jobs data
- Cancer, cardiovascular drugs tipped for Nobel as prize week opens
- Tunisia incumbent Saied set to win presidential vote: exit polls
- 'Difficult day': Oct 7 commemorations begin with festival memorial
- Commemorations begin for anniversary of attack on Israel
- Tunisia voting ends as Saied eyes re-election with critics behind bars
- Drowned by hurricane, remote N.Carolina towns now struggle for water
- Two elephants die in flash flooding in northern Thailand
- Tunisia votes with Saied set for re-election
- Too hot by day, Dubai's floodlit beaches are packed at night
- A 'forgotten' valley in storm-hit North Carolina, desperate for help
- Italy targets climate activists in 'anti-Gandhi' demo clampdown
- US trade chief defends tariff hikes when paired with investment
- EU court blocks French ban on vegetable 'steak' labelling
- Meta AI turns pictures into videos with sound
- US dockworkers return to ports after three-day strike
- DR Congo to begin mpox vaccination campaign Saturday in east
- Meta must limit data use for targeted ads: EU court
- Oil extends gains, jobs report lifts Wall Street
- US hiring soars past expectations in sign of resilient market
- As EU targets Chinese cars, European rivals sputter
- Top EU court finds against FIFA in key transfer market ruling
- Oil extends gains, Hong Kong stocks resume rally
- 'A man provides': Ukrainian miners send families away as Russia advances
- EU states greenlight extra tariffs on EVs from China
- Hong Kong stocks resume rally, oil dips after Middle East-fuelled surge
- Crude stable after Israel-Iran surge, Hong Kong stocks resume gains
- Hera spacecraft to probe asteroid deflected by defence test
- US dockworkers to head back to work after tentative deal
- After Helene's destruction, North Carolina starts to rebuild
- Dockers end three-day strike at Montreal port
- What next for OpenAI after $157 billion bonanza?
- Israel-Hamas war causes 86-percent dive in Gaza GDP: IMF
- Milan's Morata moves house after Inter-fan town mayor 'violates' privacy
- 'Devastating' storm hits Augusta National but Masters will go on
- Relief in Brazil, Asia over delay to EU deforestation rules
- Oil prices jump, stocks fall on Middle East tensions
- Biden says 'discussing' possible Israeli strikes on Iran oil facilities
- Oil prices rise, stocks fall on Middle East tensions
- Oil rallies, stocks mostly retreat on Middle East tensions
- Phasing out teen smoking could save 1.2 mn lives: study
- 'Welcome relief': Asia producers hail EU deforestation law delay
- Japan PM slated to announce plans for 'happiness index'
- Turkish inflation falls less than expected in September at 49.4%
- Easing inflation lifts profit at UK supermarket Tesco
CMSC | -0.02% | 24.695 | $ | |
SCS | -1.35% | 12.797 | $ | |
BTI | -0.23% | 35.21 | $ | |
GSK | 0.51% | 39.02 | $ | |
RIO | -0.07% | 69.65 | $ | |
CMSD | -0.11% | 24.785 | $ | |
NGG | -0.96% | 65.87 | $ | |
BP | 0.9% | 33.18 | $ | |
AZN | -0.16% | 77.35 | $ | |
RYCEF | 0% | 6.98 | $ | |
BCE | 0.04% | 33.725 | $ | |
RBGPF | -1.16% | 60.1 | $ | |
BCC | -1.58% | 136.738 | $ | |
RELX | -0.9% | 45.875 | $ | |
JRI | -0.15% | 13.26 | $ | |
VOD | 0.22% | 9.681 | $ |
Strikes flare in Europe as cost of living spirals
European workers squeezed by the soaring cost of living went on strike in Belgium and Greece on Wednesday, with stoppages threatening to paralyse parts of Britain, France and Spain in coming days.
Spreading industrial unrest poses a problem for governments which are already spending billions trying to blunt the worst effects of rising prices, at least for the most vulnerable.
Europe is acutely affected by the fall-out of the war in Ukraine, which is exacerbating a global energy crisis, inflation and a scarcity of some food products.
The onset of winter, when energy bills spike, and repeated predictions of a looming, continent-wide recession are souring the labour mood even further.
Belgium and Greece saw general strikes on Wednesday, disrupting transport in their respective capitals, impacting businesses.
In Brussels, home to the European Commission and other EU institutions, workers were protesting inflation running higher than 12 percent -- well above the 10.7 percent average across the eurozone.
The country's biggest union, the FGTB, is demanding greater leeway to negotiate pay rises.
But the Belgian government counters that Belgian salaries are already indexed to inflation -- an arrangement not seen in most other countries.
The strike cut train services by 75 percent and closed the airport in the southern city of Charleroi, the main hub in the country for Europe's leading airline Ryanair.
- Strikes in Britain and France -
In Greece, ferries serving its many islands were among the transport lines halted by a general strike, the second to hit the country since September.
Greek unions are insisting on salary rises to cope with inflation which nationally has risen to 12 percent.
"The cost of living is untenable," read a large poster for the country's biggest union, the GSEE, calling for "social protection for all".
Stoppages were to be felt on Thursday in Britain and France, with the underground urban rail networks and busses in London and Paris to be severely affected.
A French union leader, Celine Verzeletti of the CGT confederation, predicted up to 200 "demonstration points", roughly the same as the last national strike in France, on October 18, when more than 100,000 people protested.
France is not as badly affected by inflation as its European peers, as the state holds stakes in the main energy companies and has minimised how far energy bills can rise.
Inflation in France is just over six percent -- better than elsewhere -- but with economic activity across the eurozone nosediving, hatches are being battened for what looks like a period of stagflation.
In Britain, where inflation is above 10 percent, worker protests over not being able to make ends meet are coming to a crescendo.
The Bank of England predicts the country is headed for a two-year recession, even though it was forced to hike interest rates, making it even tougher for UK households.
- EU energy moves -
On top of Thursday's stoppage in London's Underground, British nurses are to hold the first strike in the 106-year history of their RCN union at a date yet to be announced.
Late next week, hundreds of workers at Heathrow airport are to down tools for three days, between November 18 and 21, to demand better pay.
Their action could force the cancellation of flights to Qatar, which is to host the World Cup football tournament that kicks off on November 20.
British dockers, university staff, postal employees and the legal profession have all held, or threaten to continue strikes over pay eaten away by inflation.
In Spain, truck drivers have called an indefinite strike from next Monday. Their last stoppage, in March, led to empty supermarket shelves.
With labour protests mounting, the EU is looking at ways to take some of the sting out of energy prices.
The European Commission and member states are working on proposals to promote the joint purchase of gas and possibly impose a mechanism to cap the price of wholesale gas within the EU.
Details are not expected to be finalised until late this month, but the steps -- and unseasonably warm weather last month -- contributed to a fall in gas prices, though they are expected to rise again as winter bites.
The head of the European Central Bank, Christine Lagarde, said last week a "mild" eurozone recession looked likely -- but warned it would not be enough to bring down record-high inflation.
Ng.A.Adebayo--CPN