Closing summary
The global economy is “turning a corner”, according to the latest outlook from the Organisation for Economic Cooperation and Development (OECD) as it upgraded the UK’s growth forecast for this year to faster than that of Japan, Italy and Germany.
The OECD ranked Britain joint second among the G7 developed countries, behind the US, in its latest outlook on the global economy, but the UK is still expected to have the highest inflation in the group.
Describing the UK’s economic growth as “robust”, the OECD upgraded its growth for 2024 to 1.1% from a forecast of 0.4% made in May, as the country recovers from a mild recession at the end of last year. The forecast of 1.2% growth in 2025 was maintained.
The union representing 33,000 striking Boeing workers says a survey of its members shows they are “not interested” in the aircraft maker’s latest 30% pay offer.
The International Association of Machinists and Aerospace Workers (IAM), Boeing’s largest union, said in a post on X, formerly known as Twitter:
Our members stand strong, and we remain ready to continue mediated or direct negotiations with Boeing. This has been made clear to both the company and our membership. The only way to resolve this strike is through negotiations, and rest assured, your Union will not bargain through the media.
The survey results from yesterday were overwhelmingly clear, almost as loud as the first offer: members are not interested in the company’s latest offer that was sent through the media. Many comments expressed that the offer was inadequate and the company’s decision to bypass the Union was viewed as disrespectful.
Our other main stories today:
Thank you for reading. We’ll be back tomorrow. Bye! – JK
Updated
Here is a response from Shein to the ‘greenwashing’ investigation launched by Italy’s antitrust authority into the Dublin-based company that runs websites in Europe for the online fashion retailer.
Shein is ready to cooperate openly with relevant Italian authorities, providing the necessary support and information to address any inquiries. We would also like to take this opportunity to reaffirm our commitment to complying with the laws and regulations in the markets where we operate and to maintaining transparency with our customers.
