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01:05
Nikkei falls 0.5%
Glonghui April 9|The Nikkei 225 Index erased its early gains and is now down 0.5%, at 56,011.68 points.
01:02
Guotai Haitong: Still optimistic about leading yarn companies benefiting from the performance flexibility brought by the rise in US cotton prices
Guotai Haitong Securities stated that US cotton began to strengthen in early March, with a price increase of nearly 10% so far, surpassing 70 cents per pound. With Brazil’s production reduction confirmed and both the US and China entering the cotton sowing season, the period from March to May is a key catalyst window for US cotton prices. We remain optimistic about leading yarn companies that will benefit from the flexibility in performance driven by the rise in US cotton prices.
00:59
After years of negotiations, FedEx reaches a tentative wage agreement with pilots
Glonghui, April 9 — FedEx and the union representing its more than 5,000 pilots reached a tentative agreement on Wednesday, paving the way for pay raises after years of negotiations. FedEx management and the Air Line Pilots Association have been negotiating since May 2021. According to the union, under the tentative agreement, pilots’ hourly wages will increase by about 40% in 2026, followed by annual increases of 3% from 2028 to 2030. Captains will also receive up to $150,000 in back pay missed during the negotiation period, while first officers will receive up to $102,500 in back pay. The union stated, "The tentative agreement will next be submitted to the FedEx Master Executive Council for review," adding that the agreement was reached under the supervision of the National Mediation Board. FedEx owns 390 cargo jets and 313 turboprop aircraft, making it the world’s largest cargo airline by fleet size, and the company confirmed the tentative agreement reached with its pilots’ union. In 2023, due to concerns among younger pilots about outsourcing, the courier’s pilots narrowly rejected a previous tentative agreement that would have increased pay by 30% and improved pension benefits.
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