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3/2, 10:13 AM (Source: TeleTrader)
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Germany's largest union starts factory strikes

Members of IG Metall, Germany's largest trade union, started warning strikes in a number of factories across the country on Tuesday. The union urged around 3.8 million workers in the iron and steel industry to demand a 4% increase in wages, as well as reduced working hours and a "greater say in strategic decisions," German media reported.

Warning strikes have been organized in factories owned by Volkswagen, Airbus SE and Robert Bosch GmbH. Head of IG Metall Joerg Hofmann pointed at a union event on Monday to a recent increase in factory orders and improvements in the business outlook for the automobile industry as positive indicators and criticized decisions to cut jobs in the sector. He added negotiations will continue and expressed hope the two sides could come to an agreement by April.

Breaking the News / DJ