13:28:46 EDT Thu 16 May 2024
Enter Symbol
or Name
USA
CA



Canadian Pacific Kansas City Ltd
Symbol CP
Shares Issued 931,355,494
Close 2023-07-21 C$ 107.63
Market Cap C$ 100,241,791,819
Recent Sedar Documents

Globe says Magna, other hear B.C. port strife nears end

2023-07-24 07:17 ET - In the News

See In the News (C-MG) Magna International Inc

The Globe and Mail reports in its Saturday edition that the union caucus for B.C. port workers has approved a package in a new vote on Friday, clearing the way for membership ratification. The Globe's Brent Jang writes that the tentative deal will be presented to the rank and file this week. About 7,400 members of the International Longshore & Warehouse Union Canada halted their 13-day strike on July 13, and then held a 24-hour walkout last week. In an ILWU bulletin, union president Rob Ashton confirmed Friday's voting results, adding that there will be a new meeting on Tuesday to "recommend the terms of settlement to the membership." Voting at longshore locals is slated for July 27 and 28, with results to be announced on July 29. Unnamed sources say the tentative deal provides for wage hikes of 5 per cent in each of the first two years, followed by increases of 4 per cent in each of the final two years. The annual wage increases total 18 per cent nominally, and work out to a compounded wage hike of 19.2 per cent over four years. The disruption to the supply chain, including trains and trucks, has upended the flow of a wide range of products such as imports of consumer goods and exports of raw materials.

© 2024 Canjex Publishing Ltd. All rights reserved.