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Hollywood film sector braces for shutdown amid strike action

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4 years ago

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Hollywood’s film and television industry is bracing for a shutdown after the union approved strike action

The union that represents some of Hollywood’s most important industry workers has voted to approve a strike action in a bold move that could cause mass disruption to an sector already impacted by COVID-19.

The action could shut down nearly all US film and television productions across the country – not just with Los Angeles.

Members of the International Alliance of Theatrical and Stage Employees known as IATSE, which covers camera crews, prop masters, hairdressers and other craft workers say they are being worked to death with gruelling hours and no guaranteed rest or meal breaks.

Members call for better pay and working conditions.

Union members are demanding better work conditions, as well as fairer pay from streaming services to cover their share of labour

Over 50,000 employees that work within the film industry voted overwhelmingly – 98% in favour to just 2% who voted against the stop-work action.

If workers do carry out the stop-work action, the strike would be the biggest walkout in Hollywood since World War Two.

Production sets could close down due to strike action.

Negotiations between the union and the Alliance of Motion Picture and Television Producers broke down last month after the IATSE walked away from a deal.

That deal would have improved wages and rest periods, according to the Alliance – and included a nearly $400m pension and health plan.

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Trump’s “very productive” deal: What’s behind the U.S.-China agreement?

US and China agree to new terms amid trade war, following productive talks between Treasury Secretary Bessent and Vice Premier He.

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16 hours ago

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May 12, 2025

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US and China agree to new terms amid trade war, following productive talks between Treasury Secretary Bessent and Vice Premier He.


The United States and China have reached a new agreement amid an intensifying trade war between the world’s two largest economies. This comes after US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng held their first in-person talks since the imposition of heavy tariffs on both sides.

President Trump has described the discussions as “very productive,” signaling cautious optimism as financial markets remain volatile and American consumers feel the pinch of rising prices. Secretary Bessent addressed reporters after long negotiations, underlining the urgency both sides felt to de-escalate the stalemate.

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U.S. and China strike surprise trade deal

US and China reach a significant trade deal amid tensions, signaling thawing relations, while the UK secures symbolic concessions; insights from economist Tim Harcourt.

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16 hours ago

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May 12, 2025

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US and China reach a significant trade deal amid tensions, signaling thawing relations, while the UK secures symbolic concessions; insights from economist Tim Harcourt.


In a stunning development amid rising tensions, the United States and China have agreed on a new deal as part of their ongoing trade war.

US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng held the first in-person meetings in years, signaling a potential thaw in relations.

President Trump called the talks “very productive.”

Meanwhile, the UK has managed to score key trade concessions from the US, including on autos, jet engines, and steel—although the benefits may be more symbolic than substantial. Could this deal impact Australia’s trade position?

We unpack the details with Professor Tim Harcourt, Chief Economist at UTS and host of The Airport Economist.

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Inflation data, earnings reports, and market trends to watch

Investors focus on inflation data, trade meetings, Fed remarks, retail sales, and key earnings reports this week.

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22 hours ago

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May 12, 2025

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Investors focus on inflation data, trade meetings, Fed remarks, retail sales, and key earnings reports this week.

In Short:
Inflation data will be a key focus this week, alongside trade meeting results and important earnings reports. Investors will monitor Fed Chair Jerome Powell’s remarks and various economic indicators, including retail sales and sentiment surveys.

Inflation data set for Tuesday is expected to be a focal point this week.

Investors will also assess the results of recent U.S. and Chinese trade meetings following a quiet Friday that saw stock declines for the week.

On Thursday, remarks from Fed Chair Jerome Powell will be closely monitored as he faces pressure from President Donald Trump regarding interest rate decisions.

Retail sales figures will also be released on Thursday, coinciding with Walmart’s earnings report.

Key earnings announcements this week include those from Cisco Systems, Alibaba Group, Deere & Co., Applied Materials, and Take-Two Interactive.

In addition, consumer and small business sentiment surveys, along with data from the homebuilding and manufacturing sectors, may also draw interest.

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