Good morning.
A summer of discontent looks set to worsen after UK train drivers threatened their first national strike in more than 25 years.
Aslef, the drivers’ union, will vote on strike action at 10 rail companies to coincide with similar action by the Transport Staff Association (TSSA), which represents station and ticket office workers.
It follows the walkout of the Rail, Maritime and Transport (RMT) union last month, which caused the biggest disruption to Britain’s railways for a generation.
The Telegraph reported at the weekend that unions will coordinate strike action over the summer in a move that could leave just one in 10 trains running and cause disruption for days.
It’s the latest example of anxiety over a cost-of-living crisis as inflation rises. Strikes are also planned at companies including BT and Royal Mail, while drivers yesterday blocked motorways in protest at rising fuel prices.
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What happened in one night
Shares in Hong Kong opened higher this morning amid speculation that US President Joe Biden is preparing to reverse some of the tariffs imposed on Chinese goods by Donald Trump.
The Hang Seng index rose by 1 pc.
The Shanghai Composite Index climbed 0.2 percent, while the Shenzhen Composite Index rose 0.2 percent. Tokyo stocks also opened higher, with the Nikkei 225 index up 0.7%.
It’s due today
- Corporate: J Sainsbury, Saga (trade updates)
- Economy: Composite PMI, Services PMI (UK, EU); financial stability report (UK); factory orders (US)
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