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...Hundreds of union members held a strike last month in protest against the company’s negotiating position in making job cuts — a situation exacerbated by the decision to merge the Pitchfork website with GQ...
...Additional reporting by Sarah White in Paris, Peter Campbell in London and Edward White in Seoul...
...Under the rules, companies must notify Brussels of bids for public tenders when the estimated value of the contract is more than €250mn and when the company has received at least €4mn in subsidies from a...
...“This level is significantly lower than that used in other [anti-dumping] investigations,” the company said....
...Union Pacific and BNSF — a division of Warren Buffett’s Berkshire Hathaway — were the two US railroads most directly affected by the closures, the association said....
...In her State of the Union address in September, European Commission President Ursula von der Leyen complained that China was flooding the global market with cheap EVs and that Beijing was making prices “...
...“China was the original ‘de-risker’,” says Jens Eskelund, president of the European Union Chamber of Commerce in China....
...The hedge fund holds a $1.6bn stake in Union Pacific, making it one of the railroad’s largest shareholders....
...Additional reporting by Edward White and Samuel Agini...
...Within China, some experts see long-term risks as Xi reshapes policy towards an increased focus on security and away from economic growth, noting that a similar strategy was the ruin of the Soviet Union....
...It has ducked pressure from politicians, human rights activists and its own union, arguing that it must honour its contract with partner SAIC despite having already abandoned plans to use the plant for the...
...There had been fears of cheap Chinese models flooding the European market, using lower wages at home to undercut carmakers burdened with higher local labour costs and beholden to powerful unions....
...Railroad companies have been making enough profits to carry out regular share buybacks....
...“Beijing has always preferred dealing with member states . . . and to undermine European decisions and the European Union as a whole,” she added....
...After years of cost cutting, operating margins at big rail companies have peaked. Union Pacific and Norfolk Southern’s valuations reflect this....
...Post-it maker 3M, oilfield services company Halliburton, railroad operator Union Pacific and homebuilder DR Horton are also due to publish results....
...King Charles III will be crowned with St Edward’s Crown at Westminster Abbey, London on May 6....
...VW has also faced pressure from unions and shareholders over its plant in Xinjiang, where China has been accused of human rights abuses against the Uyghur minority....
...Other earnings: Railroad operator Union Pacific could give insight into whether companies shipping products are responding to higher inflation by seeking cheaper alternatives to air freight....
...They include employees of the largest carriers in North America, such as Union Pacific, CSX and BNSF, a business owned by Warren Buffett’s Berkshire Hathaway....
...The company also bought a $13mn stake in investment bank Jefferies and purchased $300mn worth of building materials maker Louisiana-Pacific....
...Railroad company Union Pacific added emissions rules to a list of factors that could drive up its costs. General Dynamics declined to comment and Union Pacific did not immediately have a comment....
...Edward White in Seoul, Ryan McMorrow and Maiqi Ding in Beijing, Primrose Riordan, William Langley and Gloria Li in Hong Kong...
...Freight rail accounted for an estimated 28 per cent of US freight movements in 2020, according to an analysis of transportation department data by carrier Union Pacific....
...The union representing the longshore and warehouse workers at the west coast ports has been engaged in talks with the Pacific Maritime Association, while railroads have also held discussions with unions...
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