Passengers wait on a regional railway station in Munich, southern Germany, during a wage strike by German train drivers on September 4, 2021. Christof STACHE / AFP
German rail operator Deutsche Bahn made an improved offer to train drivers on Saturday in a bid to avert a fourth strike in a pay dispute that has already paralysed large parts of passenger traffic over the holiday season.
The GDL drivers union ended its third and longest strike in this pay round on Tuesday in action that left passengers stranded and hit freight services in Europe's biggest economy.
It threatened to call a new strike if state-owned Deutsche Bahn did not come up with a better offer by early next week.
In addition to a 3.2% wage rise staggered over 36 months and a coronavirus bonus for 2021, both of which were already on the table, Bahn said it had offered an additional component and was ready to review the scope of the GDL union's collective bargaining arrangements.
It also said it had made some commitments on pensions.
"A wage deal with the GDL is overdue," said Bahn head of human resources Martin Seiler in a statement, demanding that the union return to negotiations quickly.
Among its demands, the union wants a wage increase of 3.2% but with earlier payouts and a coronavirus bonus of 600 euros.
French luxury group LVMH has agreed to sell fashion brand Marc Jacobs to a joint venture between brand manager WHP Global and apparel company G-III Apparel Group, which are raising up to $850 million to fund the deal, the companies said on Thursday.
India on Thursday tightened rules for duty-free gold imports for jewellery exports by capping imports at 100 kg per licence, the government said in an order.
The US Senate on Wednesday voted to confirm Kevin Warsh as the chair of the Federal Reserve, paving the way for the lawyer, financier and former central-bank governor to take the reins of the Fed.
Dubai Taxi Company (DTC) has announced a major expansion deal, signing an agreement to acquire National Taxi, one of the UAE’s established taxi operators, in a transaction valued at AED 1.45 billion.
Dubai Holding has acquired a 22.27 per cent equity stake in Emaar Properties from the Investment Corporation of Dubai (ICD), becoming the company's largest shareholder with a total 29.73 per cent stake.
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