Economy

The port strike in the USA
The US port strike has begun - billions of dollars are expected

About 45,000 dock workers on the US East Coast are going on strike on Tuesday morning. No agreement was reached between the union and the employers before midnight in Philadelphia - and already before twelve o'clock, a dozen or so workers gathered in the port with signs that read "stop the automation", AP writes.

The strike could cost up to 4.5 billion dollars per day, corresponding to roughly 45 billion kroner. That estimate is made by analysts from JP Morgan, according to Reuters.

...................................

The industry: Irresponsible by Biden - shock for the economy

The major port strike that began in the United States is expected to cost the American economy billions and lead to unrest just weeks before the election. Union-friendly Joe Biden has said he does not want to get involved in the conflict - while employers' organizations have called on the White House to end the strike. Bloomberg reports.

"It would be unjustifiable to allow a contract dispute to cause a shock to our economy," Suzanne Clark, CEO of the US Chamber of Commerce, wrote in a letter to Biden on Monday.

Biden has the ability to invoke the Taft-Harley Act of 1947, which gives the president the ability to intervene in conflicts if it affects national security.

.....................................

ECB vs inflation
Inflation in the euro zone fell to 1.8 percent

Inflation in the eurozone was 1.8 percent at an annual rate in September, preliminary figures show. It was expected that inflation measured in CPI would have decreased to 1.9 percent, according to Trading Economics' consensus estimate.

The inflation rate has not been this low since April 2021.

Core inflation landed at 2.7 percent. There, an annual rate of 2.8 percent was expected, according to estimates from Trading Economics.

....................................

The future of Spotify
After the setback - Spotify's move of night jobs continues

After the Court of Appeal also denied Spotify exemption for night work, the relocation of the 250 night positions abroad continues. That's what Spotify's press contact Julia Levander writes in an email to the newspaper Kollega.

"Since standby duty is crucial for Spotify to be able to maintain its service, the move is already almost completely completed," she writes.

At the same time, she states that no one in Sweden has lost their jobs due to the move, but affected personnel have been given new schedules. The fact that the company was denied an exemption does not make it more likely that Spotify will sign a collective agreement, according to Levander.