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Can a crippling U.S. rail strike be avoided?

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A nationwide strike set for Dec. 9 could devastate the economy just before Christmas

On Tuesday U.S. President Joe Biden expressed confidence that a dispute between labor unions and the country’s freight railroads can be resolved.

“Congress, I think, has to act to prevent it,” Biden said. “It’s not an easy call, but I think we have to do it. The economy is at risk.”

The President made the remarks when he briefly spoke to reporters back at the White House following the long Thanksgiving holiday.

Over the weekend, online Black Friday sales in the United States topped a record-breaking $9.12 billion this year.

Despite inflation and other economic concerns, retail experts say it’s a solid start to the holiday shopping season.

During a meeting with Congressional leaders, President Biden discussed future legislative priorities for the lame duck session.

He also told top lawmakers that the looming railroad strike has to be a top priority.

When asked if he was confident that a rail strike would be averted, Biden replied, “I am confident.”

The President made those remarks before a nationwide railroad strike that could ultimately cripple the economy just days before Christmas.

Business groups from across the U.S. are calling on for Congress to take immediate action to avoid a strike set for Dec. 9.

Currently, a coalition of 449 organizations led by the U.S. Chamber of Commerce said lawmakers need to act before the strike deadline so they can prevent any work stoppage.

If the Biden administration and Congress fail—officials say it could cost the economy an estimated $2 billion per day, making inflation even worse.

Back in September, the Biden administration mediated a tentative agreement between the unions threatening a strike and the railroad companies. The agreement gave rail workers a 24% wage increase from 2020 through 2024 and sign-on bonuses. However, many union rail workers oppose the deal because it lacks sick time, does not address quality-of-life issues, and has laborers working on skeleton crews.

In order to avert a potential work stoppage, all 12 unions involved in negotiations must ratify their new agreements. So far, four unions voted against Biden’s proposal and are waiting for a new deal.

Veronica Dudo is the U.S. Correspondent for Ticker News covering America’s biggest headlines. As an Emmy® Award nominated global journalist, Veronica has traveled across the country and around the world reporting on historical events that connect all citizens. Lauded as an award-winning international journalist, Veronica has executed stellar news coverage for NBC News, CBS News, The Hill, ME-TV Network and AOL. Her stories have highlighted a plethora of topics ranging from breaking news and politics to economic affairs across the USA, European Union, and Asia; cultural affairs; globalization; governance; education; and sustainability.

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Business

New York Stock Exchange in free fall

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Human error sends the New York Stock Exchange tumbling

We’ve all made mistakes at the office from time to time, but spare a thought for one worker who may have single-handedly brought down the New York Stock Exchange with just one tiny error.

The mistake of one employee has wiped billions of dollars off the charts for some of the globe’s largest companies.

The individual reportedly triggered wild swings and volatility on the New York Stock Exchange.

A number of big brand names were caught up in the catastrophe. It included McDonald’s, Walmart, and Mobil.

The NYSE eventually came clean. Officials admitted the“root cause” of the screw-up was a “manual error” from a staff member in the backup data centre.

The employee accidentally left the system running.

That’s why some stocks behaved as if trading had already started, with no opening prices being set, sending the market into a meltdown. #trending #featured

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Sport

Bombshell pro-Russian video emerges from Australian Open

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A bombshell video has emerged of the father of tennis star Novak Djokovic, amplifying the Russian controversy the Australian Open

 
Djokovic’s father was seen posing for pictures with a group of Putin supporters after his son won against Russia’s Andrey Rublev, to qualify for his 10th semi-final.

Russian flags have been banned from the Australian Open, but that didn’t stop one fan.

A man was seen holding a Russian flag with Putin’s face on it and wearing a t-shirt with the pro-war ‘Z’ symbol on it.

Four spectators were questioned by police and evicted from Melbourne Park.

After losing her semi-final, Belarusian Viktoria Azarenka hit back at media when pressed on tennis’ relationship with Russia’s war on Ukraine.

She told reporters incidents like Novak’s father posing with Russian fans have nothing to do with players.

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World

FBI Director discusses classified documents as U.S. lawmakers demand answers

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Bipartisan outrage on Capitol Hill as politicians say the Biden administration is stonewalling their quest for answers

FBI Director Christopher Wray is speaking out for the first time after several batches of classified documents were discovered in U.S. President Joe Biden’s Wilmington home and Washington think tank office.

On Thursday, Wray urged lawmakers and officials to be “conscious of the rules” when dealing with classified documents.

The statements appear to be a veiled criticism of President Biden after news broke that some of the classified papers in the President’s possession date back 14-years ago to when Biden was a Delaware Senator raising questions if this is a pattern for the president to mishandle classified information.

Meanwhile, on Capitol Hill, there is bipartisan outrage as lawmakers say the Biden administration is stonewalling them in their quest for answers.

Currently, both Biden and former President Donald Trump are facing special counsel investigations into their mishandling of classified documents—and just this week, former Vice President Mike Pence turned over classified documents to the DOJ.

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