Minimum wage
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FILE PHOTO: Jeff Bezos, president and CEO of Amazon and owner of The Washington Post, speaks at the Economic Club of Washington DC’s “Milestone Celebration Dinner” in Washington, U.S., September 13, 2018. REUTERS/Joshua Roberts/File Photo
April 11, 2019
(Reuters) – Amazon.com Inc Chief Executive Officer Jeff Bezos on Thursday challenged rival retailers to increase their minimum wages to $16 an hour.
“Today I challenge our top retail competitors (you know who you are!) to match our employee benefits and our $15 minimum wage,” the billionaire entrepreneur said in a letter https://blog.aboutamazon.com/company-news/2018-letter-to-shareholders to shareholders.
“Do it! Better yet, go to $16 and throw the gauntlet back at us.”
The online retailer giant raised its minimum wage to $15 per hour for U.S. employees from November, giving in to critics of poor pay and working conditions at the company.
Amazon’s wage hike came at a time when U.S. unemployment was at a near two-decade low as retailers and shippers were competing for hundreds of thousands of workers for the all-important holiday shopping season.
Bezos said in his letter that the wage hike has benefited more than 250,000 Amazon employees and over 100,000 seasonal employees who worked during the last holiday season at Amazon sites in the United States.
Amazon’s third party sales in 2018 accounted for 58 percent of total sales, up from 56 percent in 2017, Bezos said.
(Reporting by Akanksha Rana in Bengaluru; Editing by Arun Koyyur)
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FILE PHOTO: Mexico’s President Andres Manuel Lopez Obrador looks on during a meeting with industry bosses and members of his cabinet to discuss the new administration’s policy on the minimum wage at National Palace in Mexico City, Mexico December 17, 2018. REUTERS/Edgard Garrido/File Photo/File Photo
April 10, 2019
By Dave Graham
MEXICO CITY (Reuters) – The former political party of Mexican President Andres Manuel Lopez Obrador issued a blistering attack against the veteran leftist on Wednesday, accusing him of pushing the country toward authoritarianism.
In a full-page advertisement in newspaper Reforma, the Party of the Democratic Revolution (PRD) said Lopez Obrador was dismantling 30 years of reforms aimed at checking the power of the state under Mexico’s old rulers.
“We’re in the process of restoring a presidential, centralizing and authoritarian system which weakens and suppresses the legislative branch and undermines the independence of the judiciary,” the PRD said.
Once Mexico’s main left-of-center group, the PRD has been reduced to a rump of its former self since Lopez Obrador split to form a new party after finishing runner-up in the 2012 presidential election.
Spokespeople for the president and the party he founded after the leaving the PRD, the National Regeneration Movement (MORENA), did not immediately reply to requests for comment.
In office since December, the president has enjoyed soaring levels of popularity while blaming Mexico’s problems on old rivals and the previous six administrations.
He has dominated the political agenda with a daily morning news conference, often using it to criticize many checks and balances on his power from within civil society and the media.
The PRD’s attack on him underlines the increasingly partisan flavor of politics in Mexico under Lopez Obrador.
Lopez Obrador says he is democratizing freedom of expression with his media conferences and has regularly pushed back against suggestions he aims to install an authoritarian government.
Through MORENA and its allies, Lopez Obrador has firm control of Congress, and adversaries fear that his concentration of power could soon extend to the Supreme Court.
MORENA has proposed increasing the number of judges in the court to create an anti-corruption chamber. His supporters reject criticism that the move is aimed at controlling the body.
For most of the past century, Mexico was ruled by the Institutional Revolutionary Party (PRI), which melded patronage and vote-rigging with corruption and authoritarianism.
As disaffection with the party’s rule grew, a group of reform-minded politicians formed the PRD in the late 1980s. Like Lopez Obrador, many of its leaders once belonged to the PRI.
Serving as PRD chairman in the late 1990s, Lopez Obrador went on to become mayor of Mexico City for the party in 2000, and narrowly failed to win the presidency six years later.
Lopez Obrador refused to accept defeat in 2006, saying he had been robbed. Relations between him and other senior PRD figures gradually broke down and he decided to leave the party behind following his 2012 election defeat.
Many former stalwarts of the PRD joined Lopez Obrador after he founded MORENA, and the remnants of the party backed a rival candidate in the 2018 presidential election.
The PRI ruled Mexico from 1929 until it was voted out in 2000. Returning to power from 2012 to 2018, the PRI suffered a record defeat at the hands of Lopez Obrador in July.
(Additional reporting by Ana Isabel Martinez; Editing by David Gregorio)
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FILE PHOTO: Maldives former President Mohamed Nasheed speaks during a news conference ahead of the Maldives presidential election, in Colombo, Sri Lanka September 21, 2018. REUTERS/Dinuka Liyanawatte/File Photo
April 9, 2019
By Mohamed Junayd
MALE (Reuters) – Maldives former president Mohamed Nasheed, whose party won a landslide in the archipelago’s parliamentary election, on Tuesday pledged to conduct a thorough probe into deals with China.
Nasheed’s Maldivian Democratic Party (MDP) is set to secure 65 seats in the 87-member parliament, giving it a clear majority to push for reforms including imposing the country’s first income tax and instituting a minimum wage for the first time.
President Ibrahim Mohamed Solih, who is also from the MDP and unseated pro-China leader Abdulla Yameen in September, had urged voters to back his call for an investigation the scale of debts to China, which the party fears could run as high as $3 billion and risks sinking the economy.
The Indian Ocean island chain has been caught in a battle for influence between India and China, which invested millions of dollars during Yameen’s rule as part of its Belt and Road plan, designed to improve Beijing’s global trade reach.
Yameen denies any wrongdoing in relation to the Chinese debt.
Nasheed, the country’s first democratically elected leader between 2008 and 2011 before being forced to step down in a police mutiny, said the result was “a clear mandate to implement” the party’s pledges.
“Some of the first bills that the new parliament must consider is the pending legislation to fully empower the presidential commission on stolen assets, and deaths and disappearances,” MDP leader Nasheed told Reuters in the capital Male.
“The government continues to scrutinize the deals signed by the previous government, many of which, we fear, were subject to large scale corruption. We must allow the government to examine these deals with forensic detail.”
Final provisional results for the election will officially be confirmed on Wednesday, an Elections Commission official told Reuters.
The MDP is just one seat shy of the three-quarters quorum required to amend the constitution in the People Majlis or parliament. This is the first time a party has had such a majority since the first multi-party elections in 2008. The MDP previously ruled in coalition.
The new parliament is expected to be inaugurated in May.
Last month, Yameen spent more than a month in police custody over a graft scandal aimed at siphoning money from the islands’ tourism board. He was released on bail on March 28 in time for the last week of campaigning, and denies the charges.
(Writing by Shihar Aneez; Editing by Alison Williams)
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Bank of America is raising its starting pay to $20 an hour over a two-year period, starting with a hike next month.
The company said it is raising its minimum hourly wage to $17 on May 1 and will continue to increase pay until it hits $20 an hour in 2021. Bank of America raised its hourly minimum wage to $15 in 2017. It says wages have increased since then, though it didn’t release details of those increases.
In a Tuesday interview on MSNBC, Chairman and CEO Brian Moynihan said, “”If you get a job at Bank of America, you’ll make $41,000 per year.”
Bank of America Corp., based in Charlotte, North Carolina, has more than 205,000 workers.
Source: NewsMax America

FILE PHOTO: A Bank of America logo is pictured in the Manhattan borough of New York City, New York, U.S., January 30, 2019. REUTERS/Carlo Allegri/File Photo
April 9, 2019
(Reuters) – Bank of America Corp said on Tuesday it would raise its minimum wage to $20 per hour in increments over a two-year period.
On May 1, 2019, the minimum hourly wage will rise to $17, and will continue to rise until it reaches $20 in 2021, the bank said https://reut.rs/2Il5148.
(Reporting by Bharath Manjesh in Bengaluru; Editing by Maju Samuel)
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FILE PHOTO: Former republican presidential candidate and Georgia business man Herman Cain speaks during the Southern Republican Leadership Conference at the College of Charleston in Charleston, South Carolina January 19, 2012. REUTERS/Chris Keane/File Photo
April 9, 2019
By Ann Saphir
SAN FRANCISCO (Reuters) – Herman Cain, the former pizza chain executive who President Donald Trump has picked for a policy seat on the Federal Reserve, said on Monday he is being attacked for being a conservative, but that he will put on “the full armor of God” to protect himself.
“Because I ran as a Republican for president and the United States Senate, and because I am an outspoken voice of conservatism, an outspoken voice of the Constitution and the laws, I’m being attacked,” Cain said in a 30-minute video published on Facebook as he faces vetting for a Fed seat. He also vented against the $15 minimum wage, socialism and “lunatic liberals.”
Cain, who like Trump’s other pick for an open seat on the Fed’s Board of Governors is a political loyalist to the president, has come under intense scrutiny since Trump announced that he planned to nominate him. Cain’s withdrawal from the 2012 presidential race amid allegations of sexual harassment is among issues that have been brought up. He has denied the allegations.
Cain said people have been writing “negative, unfair, insane things” about him and Stephen Moore, the conservative commentator whom Trump has picked for the other open seat on the Fed’s Board of Governors.
“We are not running as a twosome,” Cain said, adding that Moore is probably, like him, undergoing a series of background checks before Trump’s official nomination. “It’s almost unbelievable how much information you have to pull, in my case for the last 50 years, that’s how long I’ve been in the workforce.”
But, Cain said, when critics ignore his real qualifications and go on “hack attack,” he smiles because he has on his “full armor of God,” quoting a verse from the Bible.
Cain said his experience as a director at the Kansas City Fed in the 1990s helps qualify him for the position on the Board of Governors.
Unlike positions on the Fed’s regional banks, nominations to the Board of Governors require Senate approval.
Trump has railed against the Fed and his own pick for the central bank’s chairman, Jerome Powell, after a series of four interest rate increases last year that Trump claims have held back an economy that otherwise would be growing like a “rocket ship.”
Both Cain and Moore have expressed support for Trump’s economic policies and Moore has said he would support a rate cut to boost growth. Cain suggested in February that the Fed should more worried about deflation than inflation.
On Monday, Cain again had a few words about the U.S. economy, noting that “wages in 2017 grew 3.2 percent…that is significant.”
His remarks may have been a reference to the 3.2 percent rise in average hourly wages in March reported Friday in the monthly U.S. government jobs report, a key piece of data for the Fed.
“Wages are going to go up in order to try to keep your best people, pure and simple, that’s what business people do,” he said.
Some Fed officials have said they would view strongly rising wages as reason to raise rates further.
(Reporting by Ann Saphir; Editing by Leslie Adler)
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FILE PHOTO: Britain’s Chancellor of the Exchequer Philip Hammond is seen outside Downing Street in London, Britain, April 3, 2019. REUTERS/Toby Melville
April 4, 2019
By Andy Bruce
LONDON (Reuters) – An end to austerity in Britain does not mean all government departments will see their budgets keep pace with inflation, Conservative finance minister Philip Hammond said on Friday.
Last year Hammond announced that years of self-enforced thrift over government spending was coming to an end, a claim parliament’s Treasury Committee criticized as “imprecise” and lacking in detail.
On Friday he spelled out more about what an end to austerity would mean for a multi-year review of government spending due toward the end of the year alongside his annual budget.
“All Spending Reviews are about prioritization and efficiency, and it would be odd to define ending austerity as meaning that every department sees an annual real terms increase in its budget,” Hammond said in a letter to the chair of the Treasury Committee, Nicky Morgan.
Day-to-day spending on public services was likely to rise 1.2 percent a year above inflation over the coming years, compared with an average real-terms fall of 1.3 percent a year between 2015 and 2020, and double that in the five years before.
The last spending review before the financial crisis, conducted by a Labour government in 2007, envisaged real-terms cuts to spending on foreign affairs, justice, and the administration of pensions and social benefits.
Delivering faster job growth, a higher minimum wage and lower income tax bills for many workers also counted toward ending austerity, Hammond added.
Morgan said Hammond’s comment was “noteworthy”.
Britain’s budget deficit looks on track to drop to its lowest since 2001/02 at just over 1 percent of national income in the 2018/19 financial year that has just ended, down from 10 percent just after the global financial crisis in 2009/10.
Last month, Hammond said he could free billions of pounds for extra public spending or tax cuts, as long as parliament resolves its Brexit impasse.
Britain could ask the European Union for a long Brexit delay next week if crisis talks between Prime Minister Theresa May’s government and the opposition Labour Party fail to find a way out of the impasse over the divorce from the European Union.
It is nearly three years since the United Kingdom shocked the world by voting 52 percent to 48 to leave the bloc. Supporters of Brexit fear betrayal and opponents are pushing for another referendum.
Hammond last month repeated his forecast that there would be a Brexit deal “dividend” as companies regained confidence, despite criticism from the Treasury Committee over his use of the phrase.
(Editing by David Milliken)
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FILE PHOTO: Podemos (We Can) party leader Pablo Iglesias delivers a speech during a motion of no confidence debate at Parliament in Madrid, Spain, May 31, 2018. REUTERS/Susana Vera/File Photo
April 4, 2019
By Belén Carreño
MADRID (Reuters) – Spain’s Podemos was the rising star of Europe’s far left four years ago, but infighting and a failure to evolve has left it a shadow of the newcomer party it was then as it gears up for the country’s most open election in living memory.
At best, it might emerge from the April 28 ballot as a junior partner in a Socialist-led government, but that outcome would require support from other parties likely to be hard to win over.
Its decline underlines the challenge, in Spain and elsewhere across Europe, of forming viable governments once new parties emerge to break the political status quo.
Podemos was instrumental in setting that pattern as a European trend in a national election in 2015.
Founded a year earlier out of the anti-austerity movement against Europe’s debt crisis, it won 20 percent in that vote, finishing a close third behind the conservatives (PP) and the Socialists (PSOE) and dismantling the monopoly on power those two parties had held since Spain’s return to democracy in the late 1970s.
Now Podemos is down to around 12 percent, its appeal dented by scandals and divisions over how hard-line the party, which supported a minority Socialist government over the past ten months and sits on some local councils, should be.
“We have caused shame due to our internal fights, our top officials and our visibility,” leader Pablo Iglesias told a rally in March. “We have acted like any other political party.”
With polls showing no single party anywhere close to securing an absolute majority on April 28, Podemos remains one of five parties, also including far-right Vox, with a chance of being part of a governing coalition.
But its hopes of partnering the Socialists would likely rest on outgoing Prime Minister Pedro Sanchez also persuading skeptical Basque and Catalan nationalists to join that alliance.
In 2015, Podemos (meaning ‘We Can’) surged on a groundswell of anti-austerity support as protesters occupied the Puerta del Sol square in Madrid for weeks during the debt crisis, inspiring similar movements elsewhere in Europe and the United States.
It came within 350,000 votes of the Socialists, unprecedented for a non-mainstream party. But that election was inconclusive and, by the time a fresh ballot was held six months later, Podemos had lost one million votes as the initial excitement waned.
Since then the party has also fragmented.
In January, Podemos’ co-founder Inigo Errejon left to launch another movement, a defection political analysts linked to his failure to maintain the party’s wider appeal as a counterweight to Iglesias’ more far-left stance.
NO LONGER “BREAKING THE SYSTEM”?
Sanchez has said nothing about possible post-election coalitions.
But while his Socialists lead in opinion polls, his options for securing a second term appear largely dependent on how Podemos fares, especially after the center-right Ciudadanos ruled out an alliance.
The right’s options also appear limited, and a repeat election is a distinct possibility.
The dilemma of managing a fragmented or deadlocked political system is one that Spain shares with several neighbors. Politics have ruptured from Italy to France and Greece as the after-effects of the 2009-14 debt crisis and austerity linger.
In Greece, things turned out differently for the anti-austerity left.
Its standard-bearer, Syriza, has governed since 2015, supplanting the establishment Pasok socialists by accepting the strings attached to bailouts and changing from radical to reformer.
Podemos instead chose a harder line. “(In Greece’s case) we drank from that particular chalice, we were disappointed and returned to pragmatism,” said Theodore Couloumbis, a political analyst in Athens.
But, without being in government, Podemos has also been forced to compromise through its representatives on local councils and as a PSOE ally.
“The party has become normal when it got into power,” said Jose Fernandez-Albertos, a political scientist at the Spanish National Research Council. “Voters see that it will no longer break the system.”
If it manages to get into government, Podemos is likely to see its influence limited by its drop in votes, but could still have an impact, as it has done by pushing the Socialists on issues such as increasing the minimum wage.
“Its usefulness is to maintain the Socialists on the left,” Fernandez-Albertos said.
In neighboring Portugal, the Left Bloc also gained from its anti-austerity stance during the debt crisis but lost support since it became an ally of the ruling Socialists in 2015.
That minority government, also supported by the Communists, has achieved stability, potentially giving Sanchez and Iglesias a model to emulate.
But the Socialists and Podemos barely poll 40 percent together, leaving them far short of a majority and needing to quickly attract more votes from elsewhere.
Rafael Mayoral, a member of the Podemos executive, said the party still enjoyed broad appeal, telling Reuters: “We are a popular force that defends working people, from top to bottom.”
But that hasn’t stopped it from splintering. In a regional election in Madrid next month, it will run on three different platforms.
(Additional reporting by Axel Bugge, Michele Kambas, Renee Maltezou and Richard Lough; Writing by Axel Bugge and Ingrid Melander; editing by John Stonestreet)
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FILE PHOTO: Mexico’s President Andres Manuel Lopez Obrador looks on during a meeting with industry bosses and members of his cabinet to discuss the new administration’s policy on the minimum wage at National Palace in Mexico City, Mexico December 17, 2018. REUTERS/Edgard Garrido/File Photo
April 4, 2019
MEXICO CITY (Reuters) – Mexican lawmakers should pass a bill to protect worker rights as agreed during negotiations over a trade pact to replace NAFTA, President Andres Manuel Lopez Obrador said on Thursday, after pressure by U.S. House Speaker Nancy Pelosi to speed up the legislation.
Lopez Obrador, who met with U.S. lawmkers this week, said he did want to there to be any motive for the United States to reopen negotiations of the pact, which wound up last year.
Pelosi on Tuesday said the U.S. House of Representatives could not take up the deal, known as USMCA, until Mexico passes legislation protecting workers.
Members of the labor committee in the Mexican Congress have said they plan to pass legislation by the end of this month that would make it easier for workers to form independent unions.
(Reporting by Lizbeth Diaz; Writing by Frank Jack Daniel; Editing by Steve Orlofsky)
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