It was a tough week for Indian shares as the BSE Sensex fell nearly 3 percent and the Nifty lost 3.3 percent as U.S. Fed chief Bernanke’s suggestion that stimulus measures may be scaled back at one of their next few meetings dented sentiment. Here's a look at the top Sensex losers and gainers. Full Article
For months, markets have been dancing to central bankers' tune, but that may now be changing, writes James Saft. Full Article
Confused while buying stocks? Get buy, sell or hold recommendations from VantageTrade. Full Coverage
Norway's oil drillers reach wage deal to avoid strike
OSLO, Sept 2 |
OSLO, Sept 2 (Reuters) - Norwegian oil drilling workers reached a last-minute wage deal with employers on Sunday to avoid a second strike in just two months, bringing relief to one of the world's top oil and gas exporters.
The sides agreed to a 4.5 percent wage increase plus a one-off 3,641 crown ($630) cash supplement for 650 workers at services firm KCA Deutag, and unions called off a strike which would have impacted two key North Sea installations, union Industri Energi and the oil industry association OLF said separately.
In July, a 16-day strike among Norway's oil production workers halted 13 percent of Norway's oil production before the government forcibly stopped it to protect the country's reputation as a stable exporter.
Norway is the world's eighth largest oil exporter and Europe's second biggest natural gas supplier. The country's oil workers are the best paid in the world, earning around $180,000 a year on average.
Norway's economy has been one of Europe's brightest points this year, growing by an annual 5 percent in the second quarter, and employees in all sectors are increasingly demanding a bigger share of the country's success.
Oil services workers, also demanding better pay and conditions, have also threatened strikes and their case is still unresolved.
- Tweet this
- Share this
- Digg this