Wage growth slows to worst rate since 2008 crisis: United Nations : Bulletin: Business Today
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Wage growth slows to worst rate since 2008 crisis: United Nations

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BusinessToday.In | November 27, 2018

Jet Airways to clear remaining September salary on December 4, rest of the dues by March 31

Jet Airways will pay the remaining 25 per cent September salary to its senior staff early next month and is likely to come out with a revised payment schedule soon, a source at the airline said Monday. Notably, Jet Airways pilots had last week threatened not to perform additional duties from December 1 if their salary dues were not cleared by November 30.
General Motors to cut around 15,000 jobs, halt production in multiple factories

General Motors Co said on Monday it will cut production of slow-selling models and slash its North American workforce because of a declining market for traditional gas-powered sedans, shifting more investment to electric and autonomous vehicles. GM's actions add up to the biggest restructuring for the U.S. No. 1 carmaker since its bankruptcy a decade ago, and mark a turning point for the North American auto industry. U.S. automakers have enjoyed nearly a decade of prosperity since the 2008-2009 financial crisis and the government bailouts of GM and the former Chrysler Corp.
IndiGo defends decision to charge passengers for web check-ins; says practice followed globally

After the government said it will review IndiGo's decision to charge passengers for web check-ins, the airline has defended its decision, saying the practice is followed by airlines globally. The Ministry of Civil Aviation had earlier said it'll check if the airline's move is in compliance with existing rules. IndiGo said it is not mandatory for customers to pay for the seats, and that they are charged only for "advance selection of seats". The no-frills airline has been levying charges for 'web check-in' since November 14. "The pricing of different seats is dynamic in nature and may vary based on aircraft type, length of the route, occupancy, days before departure, etc," it clarified.

India likely to miss 2018-19 fiscal deficit target: India Ratings

India is set to miss its fiscal deficit target for the year ending March 2019 due to a shortfall in revenues and lower-than-targeted disinvestment proceeds, India Ratings and Research said on Monday. The country's 2019 fiscal deficit target has been pegged at 3.3 percent of its gross domestic product (GDP) or 6.24 trillion rupees ($88.45 billion). But the credit rating agency estimated fiscal deficit at 6.67 trillion - or 3.5 percent of GDP.
Wage growth slows to worst rate since 2008 crisis: UN

Wage growth in 2017 slowed to its lowest rate since 2008, the year of the financial crisis, despite solid economic growth and falling unemployment in major economies, the International Labour Organization said Monday. The latest global wage report from the United Nations agency also found that women worldwide continue to be paid about 20 per cent less than men. Based on data from 136 countries, the ILO said that wage growth fell from 2.4 per cent in 2016 to just 1.8 per cent last year. But the outlook for workers is bleaker when the calculations exclude China, where a massive population and steadily rising wages heavily influence the data.

Snapdeal unveils 'Brand Shield' to help firms fight counterfeits

E-commerce major Snapdeal Monday said it has launched 'Brand Shield', an anti-counterfeiting programme to help brands report counterfeit products being sold on its platform. The programme has been designed based on the inputs received from various brand owners, Snapdeal said in a statement. The programme is aimed at enabling a structured interaction between the platform and brands with regard to any intellectual property (IP) issues flagged by the brand, it added.


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