Advertisement
UK markets closed

  • FTSE 100

    8,433.76
    +52.41 (+0.63%)
     

  • FTSE 250

    20,645.38
    +114.08 (+0.56%)
     

  • AIM

    789.87
    +6.17 (+0.79%)
     

  • GBP/EUR

    1.1622
    +0.0011 (+0.09%)
     

  • GBP/USD

    1.2525
    +0.0001 (+0.01%)
     

  • Bitcoin GBP

    48,563.10
    -1,728.64 (-3.44%)
     

  • CMC Crypto 200

    1,257.20
    -100.81 (-7.43%)
     

  • S&P 500

    5,222.68
    +8.60 (+0.16%)
     

  • DOW

    39,512.84
    +125.08 (+0.32%)
     

  • CRUDE OIL

    78.20
    -1.06 (-1.34%)
     

  • GOLD FUTURES

    2,366.90
    +26.60 (+1.14%)
     

  • NIKKEI 225

    38,229.11
    +155.13 (+0.41%)
     

  • HANG SENG

    18,963.68
    +425.87 (+2.30%)
     

  • DAX

    18,772.85
    +86.25 (+0.46%)
     

  • CAC 40

    8,219.14
    +31.49 (+0.38%)
     
MONEY:

Best savings accounts that offer above inflation rates

How to earn the most interest on your savings

South African labour union to strike at ArcelorMittal over wages

Reuters
Updated ·1-min read
ArcelorMittal plant is seen in Vanderbijlpark, an industrial city south of Johannesburg

CAPE TOWN (Reuters) - South Africa's metal-workers' union said it will launch a wage-related strike on Wednesday at ArcelorMittal South Africa Ltd after talks with the management over salary hikes hit a deadlock.

The National Union of Metalworkers of South Africa (NUMSA) said on Monday it had provided a 48-hour strike notice, in line with labour regulations after mediation efforts failed.

NUMSA sought an across-the-board wage increase of 10%, a housing allowance, and an 80% medical aid contribution from the employer, among other demands.

Africa's biggest steel producer, majority owned by Luxembourg-based ArcelorMittal SA, has only offered 5% across the board, as well as cash incentives, the union said, adding, "We reject this proposal."

ArcelorMittal spokesperson was not immediately available for a comment.

(Reporting by Wendell Roelf; Editing by Bhargav Acharya and Sherry Jacob-Phillips)