World Bulletin / News Desk
Cabin crews of German airline Deutsche Lufthansa will strike again on Tuesday and extend work stoppages, after a labour action on Friday over pay and cost-cutting measures brought Frankfurt airport, Germany's busiest, to a standstill.
The union on Tuesday plans to strike for longer than the eight hours on Friday and at more airports but is still considering where and when, it said on Sunday in a statement on its website. It will warn at least six hours before new stoppages start, it said.
A spokesman for Lufthansa said that Germany's biggest airline had little possibility to prepare for the strike and was not planning right now to improve its offer to increase wages by 3.5 percent in exchange for longer working hours.
The cabin crew union UFO demands a 5 percent pay rise and guarantees that Lufthansa will not outsource jobs and use more temporary workers.
The first day of labour action cost Lufthansa millions and forced it to cancel another 19 flights on Saturday, it has said.
Lufthansa is facing more negotiations with personnel about pay as the tariff agreement with the pilot union Cockpit is ending in coming months.
German magazine Der Spiegel reported, without saying where it obtained the information, that Lufthansa plans to start negotiating with the union on Sept. 10. A spokesman declined to comment on the date.
Volatility eased as traders focused on the world economy and corporate earnings after a week dominated by the dramatic spike in tensions over North Korea, which triggered a global sell-off before prices bounced back Monday.
Investors greeted the more conciliatory tone after US stocks dropped three days in a row last week on President Donald Trump's vow of "fire and fury" if North Korea continued to pursue its nuclear weapons and ballistic missile programs.
The ultra-conservative kingdom has moved to diversify its traditionally oil-dependent economy following a sharp fall in crude prices.
In its monthly report on the global oil market, the International Energy Agency said, however, that it believes the supply glut is easing, partly because demand is growing faster.
US stocks have been in retreat since President Donald Trump Tuesday issued a fiery warning to North Korea to halt its nuclear program.
The move by one of Japan's best-known firms greatly reduces the chance of an embarrassing delisting from the Tokyo Stock Exchange (TSE).
London's benchmark FTSE 100 index weakened by 0.5 percent to 7,503.39 points.
The approval by the European Commission comes just over two months after the European Central Bank -- which took on the role of the eurozone's banking supervisor in 2014 -- allowed the sale to go ahead for a symbolic fee of one euro.
BP, Chevron, ExxonMobil, Shell and Total have all published results in recent days, showing they pocketed $23 billion in net profit in the first half fo the year.
Higher cereal, sugar and dairy prices pushed food price index by 10.2 percent annually in July
HSBC was also a big riser, gaining three percent at £7.65 ($10, 8.5 euros) in late morning trade after the British banking giant announced a share buyback plan alongside a rise in first-half profits.
Both main crude contracts made strong gains, with WTI testing $50 a barrel for the first time since late May and Brent heading towards $53, while mining giants BHP Billiton and Rio Tinto saw their share price rise as commodities strengthened.