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On July 24th, three sources familiar with the matter revealed that the Bank of Japan (BOJ) is likely to maintain its warning about inflation exceeding its 2% target next week, but also hinted that these risks have not increased significantly compared to three months ago. The BOJ is expected to focus on the ongoing inflation risks from the Middle East conflict, strong global demand for artificial intelligence, and rising import costs due to a weaker yen in its quarterly outlook report to be released at its policy meeting next week. Meanwhile, the BOJ believes the likelihood of the worst-case scenario—a severe supply disruption triggering a price surge and forcing the central bank to raise interest rates rapidly—has decreased compared to three months ago. Furthermore, the statement made during its June rate hike that there is a risk of "potential consumer inflation deviating from and exceeding the 2% target" is expected to reappear. Sources said that with the risk of a short-term inflationary shock from oil prices easing, policymakers are now turning their attention to the extent to which businesses continue to pass on rising costs to households. This shift indicates that the BOJ is moving beyond the direct impact of the Middle East conflict and focusing on broader inflationary factors, including AI-related demand and a weaker yen, to assess the timing of the next rate hike.Iranian Foreign Minister: Once the government normalizes asset confiscation, no ones assets will be safe. The resulting chaos will not be peaceful or orderly.July 24th - This morning (July 24th), the State Council Information Office held a press conference on the theme of "Starting the 15th Five-Year Plan." Officials from the Ministry of Public Security introduced the relevant situation regarding strengthening governance, protecting the peoples safety, and promoting development, and fully serving and guaranteeing the start of the 15th Five-Year Plan, and answered reporters questions. Currently, new types of crimes using artificial intelligence mainly include: using AI technology to forge identities, intrude into government and enterprise information systems, and steal others information and property; or impersonating acquaintances or authoritative figures to gain the trust of victims and then commit fraud; and using AI tools to generate online rumors and disrupt public order. Public security organs are making every effort to combat the above-mentioned illegal and criminal activities, while also severely cracking down on criminal gangs providing technical support, striving to eradicate the breeding ground for crime at its root. In the first half of this year, more than 170 cases of using AI tools to generate online rumors were investigated, and more than 190 people were dealt with according to law.Precious metal futures contracts saw further declines, with platinum (2610) falling 5.23% to 390.55 yuan/gram. Palladium (2610) fell 6.10% to 295 yuan/gram. Gold (2608) fell 2.66% to 879.86 yuan/gram. Silver (2610) fell 4.85% to 14,016 yuan/kilogram.The Hang Seng Tech Index fell by more than 2%, with PCB, robotics, and artificial intelligence concepts among the biggest losers.

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.