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February 24th - The overnight SHIBOR was 1.3620%, up 4.64 basis points; the 7-day SHIBOR was 1.5530%, up 22.97 basis points; the 14-day SHIBOR was 1.5770%, up 18.70 basis points; the 1-month SHIBOR was 1.5500%, unchanged from the previous trading day. The 3-month SHIBOR was 1.5780%, down 0.20 basis points.The main fuel oil futures contract surged 4.00% intraday, currently trading at 2978.00 yuan/ton.The SC crude oil futures contract surged 6.00% intraday, currently trading at 492.50 yuan per barrel.February 24th - According to the China State Railway Group Co., Ltd., during the Spring Festival holiday (from the 28th day of the twelfth lunar month to the 7th day of the first lunar month), railway passenger traffic remained high due to the overlapping of family visits, migrant workers, and tourists. The national railway system transported a total of 121 million passengers, averaging 13.41 million passengers per day, an increase of 11.5% compared to the same period last year. On February 23rd (the 7th day of the first lunar month), 18.733 million passengers were transported, setting a new historical record for single-day passenger volume during the Spring Festival travel season.February 24th - EU foreign ministers failed to reach an agreement on the 20th round of sanctions against Russia on February 23rd. Hungarian Foreign Minister Péter Szijjártó told the media after the meeting that Hungary made it clear at the meeting that it did not support the sanctions—and that as long as Ukraine continues to halt Russian oil shipments to Hungary, Hungary will not support any EU-level decisions that benefit Ukraine. Szijjártó also pointed out that the European Commission "usually supports non-EU countries rather than EU member states, behaving almost like a Ukraine Commission."

Audi Workers in Mexico Are Planning A Walkout on January 1 Over Pay

Aria Thomas

Dec 23, 2022 11:47

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The union said Thursday that worker representatives at Audi's Mexico facility have set a Jan. 1 deadline to negotiate a deal with the corporation over salary rises without going on strike.


Audi and the Independent Union of Audi Mexico Workers (SITAUDI) had previously discussed two possibilities to increase salaries for the 4,000 unionized employees in the central state of Puebla.


Last week, employees rejected both ideas, bringing their union and employers back to the negotiating table.


One option promised a wage raise of 8.4% in 2023. The other proposed an increase of 9.4% in 2020, followed by yearly increases through 2026 that are in line with inflation plus one percentage point.


Cesar Orta, the leader of SITAUDI, stated that workers were dissatisfied with prior multiyear contracts, and he appreciated their rejection of the current offers.


"That they voted "no" is commendable. We practiced union democracy and honored the voice of the majority. "He said that workers might walk off the job if a new contract is not negotiated by January 1.


Audi, which is owned by German automaker Volkswagen (ETR:VOWG p), stated that it will continue negotiations with SITAUDI in an effort to establish an agreement that benefits the firm and its employees.


Since 2016, the company's Puebla factory has produced the Audi Q5 SUV.


An offer made by their union for 9% wages, one of the largest at an automaker in recent years, was first rejected by workers at a neighboring Volkswagen plant.


They agreed to the terms in September after the corporation agreed to retroactively apply the raise.


In the first half of December, Mexico's annual headline inflation reached 7.77%.

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