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March 19th - According to CNBC, industry insiders revealed that European chip importers are facing soaring costs and delivery delays due to disruptions in air transport routes through the Middle East caused by the war in Iran—forcing them to draw on inventory and pay higher freight rates. Since the outbreak of hostilities on February 28th, airports and shipping routes have been frequently attacked, disrupting cargo routes. Data from logistics company DSV shows that global air freight capacity (primarily used for transporting high-value electronic products such as semiconductors) has decreased by approximately 9% compared to pre-war levels. DSVs head of air freight, Kriken, stated, "Inventories will continue to decline in the coming weeks, and everyone is hoping that freight rates will return to normal." He pointed out that European automakers are being impacted, and while many buyers havent drastically reduced imports, they have begun paying premiums to ensure deliveries. An informed source revealed that a European chip company experienced partial delivery delays of several days, air freight costs have increased, and the trend in the coming months is unpredictable.Micron Technology (MU.O) shares fell 4.4% in pre-market trading.Samsung Electronics: Announces strategy to ensure its leading position in the field of artificial intelligence chips.March 19 – On the afternoon of March 19, the Ministry of Commerce held a regular press conference. A reporter asked how China would participate in the 14th Ministerial Conference of the World Trade Organization (WTO), which will be held at the end of this month. In response, Ministry of Commerce spokesperson He Yongqian stated that the 14th WTO Ministerial Conference (MC14) will be held in Yaoundé, the capital of Cameroon, from March 26 to 29, and Minister of Commerce Wang Wentao will lead the Chinese delegation to attend.On March 19th, it was reported that on March 17th, Zhu Hexin, Secretary of the Party Leadership Group and Director of the State Administration of Foreign Exchange (SAFE), chaired an enlarged meeting of the Party Leadership Group. The meeting focused on deepening reform and innovation in the foreign exchange sector. It emphasized improving the facilitation of cross-border trade and actively supporting the stability and structural optimization of foreign trade. The meeting stressed strengthening the supply of foreign exchange policies, focusing on key areas such as technological innovation and intelligent manufacturing, and continuing to focus on the "five major aspects" of financial development. It also emphasized strengthening the assessment of foreign exchange policies and regional foreign exchange ecosystems, conducting timely effectiveness assessments of important foreign exchange policies and key tasks, and striving to achieve closed-loop management throughout the entire process from policy issuance to the "last mile" of impact on enterprises and residents, truly benefiting businesses and the people.

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.

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