German union Verdi called on 33,000 Lufthansa workers to go on strike ahead of wage talks. The strike is expected to last for about five hours, but has already resulted in the cancellation of nearly 700 flights.
Verdi is calling for a 5.2% wage increase over the next year for employees. It also wants Lufthansa to commit to safeguarding jobs. Lufthansa has called for a two-year pay freeze until January 2015 and the extension of the work week by an hour, which the union opposes.
Lufthansa is already cutting 3,500 jobs as it seeks to cut costs and improve earnings.
The chatter on Main Street (a.k.a. Google, Yahoo! and other search sites) is always of interest to investors on Wall Street. Thus, each day, TheStreet compiles the stories that are trending on the Web, and highlights the news that could make stocks move. -- Written by Brittany Umar.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV