LABOUR UNREST
Behind Bangladesh's garment boom, workers cut food, healthcare as wages fall short
Garment workers in Bangladesh are facing financial struggles due to rising costs of living. Many workers, such as Shilpi Khatun, have seen wages stagnate while expenses continue to rise. Protests erupted recently, demanding an increase in the minimum monthly wage to 30,000 taka. The government plans to revise wages but has not announced the increase yet. The ongoing economic pressures are affecting workers' daily lives and choices.
TReDS sees a festive boost; Nykaa’s growth strategy
Happy Friday! Festive inventory demand has lifted invoice financing on TReDS platforms. This and more in today’s ETtech Morning Dispatch.
Global markets were already fragile. Big AI bets could break them
Investors flocked to bonds. Yields, which move inversely to price, fell from multidecade highs, with the benchmark 10-year Treasury, which guides borrowing costs globally, falling almost 20 basis points on October 22, its biggest daily fall since early 2023.
France protests: Police charge students at Sciences Po, knock man down as 1,314 arrested nationwide | Watch
French riot police charged into protesters at Sciences Po Paris, pushing demonstrators against a railing and knocking a man carrying a megaphone to the ground, as unrest over living costs and education conditions continued nationwide. Authorities arrested 1,314 people, while clashes left 53 police officers injured and shops looted.
Tenants stayed in India without valid visas, landlord claimed he didn’t know; Madras HC upholds 2-year jail term and Rs 10,000 fine
Foreigner tenants arrested by police for staying without valid Indian visa; landlord says he didn’t knew this; Madras HC upheld Rs 10,000 fine and 2 years jail sentence for tenants under Foreigners Act
‘France’s protests increased polarisation — and helped the far-right’
Recent protests in France erupted from student frustrations surrounding educational systems and inadequate school environments. As the movement evolved, it brought to light broader issues such as soaring living costs and employment stagnation. The troubling economic backdrop of national debt and inflation has intensified citizens' worries, particularly the younger generation's outlook on jobs and climate change. This upheaval threatens to deepen the political divide as it interrogates existing social policies.
From France to Italy, Belgium and Spain: Housing crisis, rising costs, education fuel wave of protests across Europe
Protests against living costs and housing affordability have escalated across Europe, particularly affecting youth and workers. Countries such as Italy and Belgium have seen violent demonstrations, with numerous arrests reported. Spain is facing a housing crisis, prompting protests ahead of an upcoming election, while Portugal's demonstrations have echoed similar grievances. In France, public unrest began with students but has expanded to broader economic issues.
France is on fire but something more dangerous burns below the unrest
France is engulfed in protests as the public gives vent to growing anger over soaring expenses and diminishing educational quality. Citizens are voicing their demands for improved services, yet the government grapples with managing an overwhelming public debt. Amid budget cuts proposed by President Macron's administration, increasing political challenges may hinder these efforts.
France’s protests rage as buildings burn, shops are looted and young protester loses hand; Vance blames immigration
Protests against rising living costs and public service issues led to violent clashes across France. In Paris, masked groups vandalized shops and clashed with police during demonstrations. Numerous public buildings were attacked in various cities, including Limoges, Marseille, and Lyon. Authorities reported over 1,200 arrests while thousands participated in marches across the nation. Political leaders condemned the violence and emphasized accountability for those involved.
Protesters across France rally over rising living costs, joining students' grievances
Protests have arisen in France regarding increasing living costs and dissatisfaction with educational conditions. High school students, supported by the CGT union, are actively participating in demonstrations. President Emmanuel Macron has called for calm while emphasizing respect for individuals and property. Interior Minister Laurent Nunez announced the anticipation of numerous protests and implemented restrictions on specific gatherings. Recent student protests have resulted in significant unrest and have impacted national attention.
Delhi traders urge PM Modi, Rahul Gandhi, Kejriwal to postpone protests till January 31
Bharatiya Udyog Vyapar Mandal has requested political protests in Delhi to be postponed until January 31, next year. This appeal highlighted the importance of the upcoming festival and wedding season for traders and workers. Demonstrations are reportedly causing significant business disruptions, particularly affecting market access and transportation. The trade body emphasised that such interruptions harm Delhi's economy and broader commercial networks.
Europe’s Gen Z is out on the barricades: What's bothering the youth?
In a wave of activism, youth in France, Belgium, Ireland, and Spain are taking to the streets to address critical challenges affecting their lives. Protesters highlight issues such as the failing education system in France, the financial hurdles in Irish higher education, and the steep rental prices pushing Spaniards into dependency. These movements underscore deep-seated generational anxieties, pointing to a widespread sentiment of uncertainty that resonates throughout Europe.
Russia begins three-day parliamentary vote as Putin frames election as war test
Russia's parliamentary election commenced today, spanning three days. President Putin views this vote as a measure of support for the Ukraine war. The ruling United Russia party is expected to maintain its dominance. Many anti-war candidates were excluded from the ballot. Authorities will gauge societal war weariness and economic strain.
Cannot absorb hike in wages: Noida exporters
Noida apparel exporters warn wage hikes and labour unrest may disrupt shipments, as rising costs and pressure from global buyers threaten orders, risking a shift to competing markets like Bangladesh and Vietnam.
Labour unrest: Honda denies sacking of workers
The Tapukara plant has a daily capacity of 4,400 units but is now rolling out 4,400-4,500 units to meet rising demand.
Ceat shares up over 4% after workers call off strike
Shares of tyre maker Ceat rose by over 4 per cent after the company said its workers at the Nasik plant have called off a flash strike.
Economic Survey: Investment destination Gujarat tops labour unrest chart
Gujarat witnessed the highest number of strikes and other forms of labour unrest in recent times on account of various financial and disciplinary issues, the Economic Survey said on Friday.
China labour unrest spread to interiors
Labour unrest that began among foreign firms in South China's affluent Pearl Delta area is showing signs of spreading to poorer interior areas, broadening a movement by workers demanding wages to catch up with the nation's growing wealth.
Gurgaon-Manesar belt no stranger to labour unrest
History keeps repeating in the Gurgaon-Manesar industrial belt, one of the country's largest auto hubs, which once again witnessed labour unrest following the death of a young worker at Rico Auto on Sunday.
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