LABOUR COSTS
Increasing annual leave to five weeks would cost employers less than you might think
The idea of expanding annual leave to five weeks appears to be gaining traction, spurred by recent advocacy from groups like the Shop Distributive and Allied Employees Association. While certain industries already offer extended leave, such as for continuous shift workers, most employees typically receive four weeks. Australia's annual leave entitlement has remained unchanged since 1974, prompting calls for review amid international comparisons where some countries offer more statutory days.
UK's Rishi Sunak says only his Conservatives can form strong opposition to Labour
British Prime Minister Rishi Sunak, anticipating potential defeat in the upcoming election, will warn voters on Monday that only his Conservative Party can effectively oppose a Labour-led government. He will caution against voting for Nigel Farage's Reform UK, arguing that it would splinter the right-wing vote and weaken the opposition to Labour. Sunak, facing polls indicating a significant lead for Labour under Keir Starmer, will highlight the risk of a Labour government unchecked by a strong opposition.
In the final days before the UK election, Rishi Sunak insists that he can stay in power
Rejecting decline narratives, I champion Britain's improved status post-Brexit, highlighting enhanced living conditions. My campaign counters challenges posed by the Labour leader, emphasizing economic stability and the nation's positive trajectory since 2010.
American and British voters share deep roots. In 2024, they distrust their own leaders, too
Ahead of Independence Day in the United States and a crucial election in the United Kingdom, a pervasive sense of distrust has clouded the political landscapes. In the UK, voters anticipate a change after 14 years under the Conservatives, disillusioned by broken promises and scandal. Meanwhile, Americans prepare for a divisive election rematch amid deep polarization and widespread mistrust in government. Both nations, rooted in democratic ideals, face challenges reflecting a loss of faith in leadership and institutions, shaping a sobering backdrop to their respective celebrations and electoral decisions.
UK's Labour Party commits to stamping out anti-India sentiments
Parties in the UK, including Labour, Conservatives, Liberal Democrats, and the Green Party, compete for votes within the Indian diaspora, emphasizing ties with India and key issues like the stalled free trade agreement and cultural exchanges.
How to fix skilling the competition
Legislation is needed to bring parity in working conditions among blue- and white-collar workers. Where this is not possible - for instance, in construction - wages must adjust to the harshness of outdoor work. Industry also has to commit more towards tenure of employment for manual labour in order to draw in a newer generation of workers.
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Post Nifty@24000, is it time for profit-booking? Sunil Subramaniam answers
The widening gap in valuations between the mid-cap as well as the small cap pack and the largecap pack means that this is a wonderful opportunity to rotate it and bring down the average one-year forward PE of the portfolio by buying good quality, solid, robust largecaps, says Sunil Subramaniam.
Britain's Rishi Sunak struggles with missteps while trying to lift Conservatives ahead of elections
British Prime Minister Rishi Sunak has faced scrutiny over his political instincts during the general election campaign, which started five weeks ago. His actions have not always reflected the seasoned touch of past leaders like Tony Blair or Boris Johnson, evidenced by some notable campaign missteps.
Who is Keir Starmer, the Labour leader favoured to win Britain's July 4 election?
Labour Party leader Keir Starmer, a managerial and dutiful figure, aims to lead the UK towards stability and change after years of Conservative rule. A former prosecutor, Starmer stresses his everyman credentials and seeks to appeal to voters with a message of reassurance. Facing challenges from both left and right, Starmer's pragmatic approach has helped Labour surge in the polls ahead of the upcoming election.
High installation cost barrier to adopting rooftop solar power in India: Survey
High installation costs and lack of skilled labor are major barriers to rooftop solar adoption in India, according to a Luminous Power Technologies survey. Conducted with 4,318 respondents across five metros and eight non-metro cities, the survey revealed that 90% recognize the need for specialized skills, and 59% are concerned about high initial costs.
How crews suffer when shipping costs are halved
Stories about ship food tend to focus on the luxuries of cruise liners, which boast of serving whatever diners want, or close.
Gold rises 1% to two-week peak as Fed rate cut bets lift demand
Gold prices rose more than 1% on Thursday to their highest level in two weeks, as recent U.S. economic data showing signs of a slowdown in the world's largest economy boosted bets for interest rate cuts from the Federal Reserve this year.
Som Distilleries & Breweries' child labour incident casts a cloud over India Inc's supply chains
Listed company SDBL in Bhopal rescued 58 children from child labour. Bachpan Bachao Andolan aided in rescue operation. While listed companies themselves rarely engage in child labour practices, they can become inadvertently connected to such practices through their supply chains. These issues predominantly involve smaller, unorganized entities in sectors like textiles, carpets, mining, firecrackers, and agriculture, where supply chains are intricate and challenging to oversee.
India's fast-growing economy has a problem
India faced criticism for withholding a labor survey revealing high unemployment until after Modi's re-election in 2019.
Dental appointments in Costa del Sol are cheaper than private clinics in the UK. Here is the reason
A women realised that travelling to Costa del Sol in Spain for a dental appointment is a lot cheaper than spending on a private clinic in the UK. This cost is cheaper including the appointment charges, flight tickets and an overnight stay. People are finding creative solutions to tackle the challenges of getting timely appointment at the NHS.
How labour party’s election vows stack up for UK markets
Labour party unveils manifesto to control debt, boost homebuilding, and upgrade infrastructure. UK stocks and sterling rally ahead of election.
Labour Codes: Secy to meet officials to take stock of state rules
The BJP-led NDA government is preparing to implement the four labour codes and will hold a meeting on June 20 with state labour secretaries and commissioners to review state rules. The aim is to align state rules with the Centre's model rules to ensure uniformity. Labour reforms are part of the government's 100-day agenda to enhance ease of doing business and attract investments. The government consolidated 29 central labour laws into four codes, with most states having framed rules across these codes.
Japan's economy is shrinking, although slightly less than previously thought
Japan GDP growth: Revised government data shows Japan's economy shrank at an annual rate of 1.8%, an improvement from the initial estimate of 2.0%. Private sector investments were revised to minus 0.4%. Weak consumer spending, a depreciating yen, and a scandal involving improper vehicle tests at major automakers are among the challenges faced. The Bank of Japan's next move is closely watched.
Personalising palates on cloud nine
Cloud kitchens, or virtual kitchens, are transforming the dining industry by operating exclusively for delivery or takeout, leveraging technology to optimize efficiency and cater to modern diners' needs for convenience, variety, and personalization. India's online food delivery market, valued at ₹410.97 billion in 2021, is projected to reach ₹1,845.76 billion by 2027, growing at a CAGR of 30%. Cloud kitchens excel by using data analytics to understand customer preferences, enabling chefs to experiment with new dishes and operate cost-effectively, enhancing the overall dining experience.
Birth better solutions to raise productivity
The global fertility rate is nearing the replacement rate, and the world may be only years away from depopulation, according to UN projections. Rich economies are already below replacement levels, while least developed nations have higher rates. The UN has been lowering its estimates, and variations in mortality rates and sex ratios complicate the replacement rate. Coping strategies like raising the retirement age and increasing immigration have limitations. Declining fertility in India, coupled with poor healthcare and adverse sex ratios, threatens its economic growth and productivity.
A 1°C rise in global temperature causes a 12% decline in world GDP: Adrien Bilal
Adrien Bilal discusses the macroeconomic impacts of global temperature rises in the Anthropocene with Srijana Mitra Das at Harvard University.
Modi 3.0 has heavy lifting to do on tax reforms to managing stock risks
Economists outline key priorities for India's incoming government, emphasizing the need for growth, job creation, and macro stability. Pronab Sen highlights the importance of sustainable livelihoods, while Pranjul Bhandari suggests that 'easy' reforms could maintain 6.5% growth. However, achieving 70 million jobs requires politically sensitive reforms in agriculture, labor, and land. Additional recommendations include infrastructure investment, judicial reforms, enhancing export competitiveness, and further tax reforms, particularly bringing petroleum and power under GST.
Services activity growth eases to 5-month low in May
India's services sector output growth moderated in May, reaching its lowest level in five months, according to the HSBC India Services Business Activity Index. The index slipped to 60.2 from 60.8 in April, indicating a softening in services activities due to factors like severe heat waves and price pressures. While domestic new orders eased slightly, they remained robust, supported by strong demand conditions and successful advertising. Export demand also provided support, with new orders rising at the fastest pace in nearly a decade.
Want to buy split AC; which one should you go for inverter, or old style? Here's how they differ in overall cost and experience
Split AC: This summer which type of AC to buy? Inverter or old style split AC. Know how much money you need to spend on running it, repairing it, and others. However you will not be able to find any 5 star old style split AC anymore as the market is now dominated by inverter ACs.
Most states out with draft rules under new labour codes, about 3 cr job opportunities in 2022-23: Labour secretary
Labour secretary Sumita Dawra said the labor reforms have been put in place with an eye on ease of doing business, simplification, and reduction in compliance burden, decriminalization and seamless dispute resolution, promotion of labor market flexibility at the same time in harnessing female participation, leveraging technologies, and meeting the scale needs of the economy, whether at the national or international level.
Wall St Falls, Yields Rise on Hot Labour Cost Data
Tesla dipped 5.2% following a 15% surge in the previous session after a report that CEO Elon Musk had dismissed two senior executives and plans to lay off hundreds more employees.
Dow drops 302 points on hot labour costs data, caution before Fed verdict
US labour costs increased in the first quarter amid a rise in wages and benefits, confirming the surge in inflation early in the year that will likely delay a much-anticipated interest rate cut later in 2024. On the earnings front, GE HealthCare lost 9.6% after the medical equipment firm missed estimates for first-quarter revenue, while McDonald's fell 0.9% as it missed profit estimates for the first time in two years.
Living wage augurs well for contractual staff
India transitioning to living wages with ILO, affecting labor costs. Disparities in pay among different worker types. Global minimum wage increases noted. Italy resists implementing minimum wage. Challenges anticipated for MSMEs, SMEs, and gig workers.
Racial tensions cost Germany Inc. skilled foreign labour
Between 2013 and 2022, the number of xenophobic hate crime cases reported to the Interior Ministry in Germany more than tripled to over 10,000. According to official German projections, the nation will lack seven million skilled workers overall by 2035, out of a total labour force of about 46 million.
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