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FT News Briefing

Federal Reserve poised to raise rates a half-percent

FT News Briefing

Forhecz Topher

News, Daily News, News & Politics

4.41.3K Ratings

🗓️ 3 May 2022

⏱️ 9 minutes

🧾️ Download transcript

Summary

Amazon workers at a warehouse in New York have rejected efforts to form a union, the US Federal Reserve is poised to make its first half-percentage point rise since 2000, and Danish turbine maker Vestas reported bigger than expected losses and confirmed the impact of the war in Ukraine on the industry.  


Mentioned in this podcast:

Amazon union dealt a setback as it loses vote at second NY warehouse

Fed reaches for its ‘hatchet’ as it attacks galloping inflation

Vestas warns war in Ukraine will add to wind industry slowdown

Shipping heavyweight Japan tables carbon tax proposal for the industry


The FT News Briefing is produced by Fiona Symon and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Michael Lello, David da Silva, and Gavin Kallmann. The show’s theme song is by Metaphor Music. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. 


Read a transcript of this episode on FT.com


Hosted on Acast. See acast.com/privacy for more information.

Transcript

Click on a timestamp to play from that location

0:00.0

The FT News Briefing is supported by Equinole, the UK's energy partner.

0:06.3

Learn more at equinole.co.uk

0:09.9

Good morning for the financial times. Today is Tuesday, May 3rd, and this is your FT News Briefing.

0:18.7

US Central Bankers are meeting today amid expectations for a half-point interest rate hike.

0:24.4

Amazon workers voted no to the latest attempt to unionize a warehouse.

0:28.9

This is a major, major setback. Plus, demand for wind energy is soaring, but that's not translating

0:35.6

into big profits. I'm Jess Smith, in for Mark Filipino, and here's the news you need to start your day.

0:50.8

Amazon warehouse workers in New York City have rejected an effort to form a union.

0:55.7

It's a very different outcome the last month when organizers succeeded in unionizing a warehouse

1:00.9

just across the street. I asked the FT's Taylor Nicole Rodgers why one facility voted yes,

1:06.5

and the other no. I think a lot of labor leaders are going to spend the rest of the year trying to

1:13.0

figure that out, but if I had to make one guess logistically, it's that the leaders of this

1:20.4

Amazon labor union were actually all employees at the facility across the street, the one where they

1:26.4

won last month. So just logistically, it would be harder for them to make inroads at this facility,

1:32.4

get to know people, engage workers, those kinds of things, especially in the face of really fierce

1:37.6

opposition from Amazon. So Taylor, we've got these two cases in New York with split results,

1:43.0

and we still don't have a result from another Amazon union battle from last year. That's the one

1:47.5

in Bessemer, Alabama. Amazon's still challenging those results. But does this say anything about the

1:53.0

broader effort to unionize at Amazon? I think it just shows how difficult it is. A lot of people

1:59.6

last month were saying, oh, we're at this huge moment. We're in a new labor market. Everything is

2:05.6

going to be so much better for workers, but I think this just goes to show how logistically

2:10.8

difficult it is to pull off a victory like the one they saw last month. And just for my conversations

...

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