Despite not having a union, workers at Market Basket have achieved much more than three weeks, what few unions have been able to achieve in years. They have stood up against their employer, managed to stay united and make themselves heard. That being said, their central demand to restore previous company president, Arthur T. Demoulas has still not been met.

The walkout has stretched to its fourth week, causing the company and the workers financial risks and pressures, however the broader movement continues to grow. A Cornell University professor of industrial and labor relations explained that this is a “very, very special case.”

Arthur T. Demoulas was dismissed by the board in June, which is now controlled by Arthur S. Demoulas. Arthur S is Arthur T’s rival and also happens to be his cousin. The protest has involved the entire 25000 person workforce from cashier to managers, its remarkable to see how unified they are. Many of the workers fear that without Arthur T, their decent wages and good benefits would stop. However as a downside to the revolt, thousand of employees are not going to be paid this week. If the Market Basket action succeeds it will be create precedent for other worker movements and be a much needed victory for the workers.

Bookmaker Ladbrokes has reported a fall in its profit, though it delivered a very good football world cup performance.

In the first half of the year which ended on 30^th of June the pre-tax profit decreased to 49.7% to $27.7 million. Whereas, the company stated that in this quarter its chief goal was to make betterments in the operational department, which evidently implies that their fiscal performance would be affected.

 

The chief executive, Richard Glynn stated that the company has gained significant improvement and  is much stronger than the previous years. Currently they have products, platforms, audience and the brand to deliver.

Almost 250 FTSE gambling group wasted the first half of the year in recreation since they wanted to speed up their online business before the start of  football tournaments in Brazil. 50 shops were shuttered down due to this reason, in the entire U.S.

Last year Ladbrokes had  made a merge with Playtech, which is a software developer company. Therefore, the company has to swop all its games to a another system. Though the organization, confessed that this union has put forth a greater disturbance than the prognostications of the company owner.

On the whole the operating revenue, reduced to a third with $56.8 million for six months to the 6^th of August. As per the reports the profit went almost half to $27.7 million. Even though the company performed as it was expected to do so, but still the shares of the company fall badly.

Despite not having a union, workers at Market Basket have achieved much more than three weeks, what few unions have been able to achieve in years. They have stood up against their employer, managed to stay united and make themselves heard. That being said, their central demand to restore previous company president, Arthur T. Demoulas has still not been met.

The walkout has stretched to its fourth week, causing the company and the workers financial risks and pressures, however the broader movement continues to grow. A Cornell University professor of industrial and labor relations explained that this is a “very, very special case.”

Arthur T. Demoulas was dismissed by the board in June, which is now controlled by Arthur S. Demoulas. Arthur S is Arthur T’s rival and also happens to be his cousin. The protest has involved the entire 25000 person workforce from cashier to managers, its remarkable to see how unified they are. Many of the workers fear that without Arthur T, their decent wages and good benefits would stop. However as a downside to the revolt, thousand of employees are not going to be paid this week. If the Market Basket action succeeds it will be create precedent for other worker movements and be a much needed victory for the workers.

The US Treasury Department said that it would hold borrowing steady instead of cutting federal capacity like it did earlier in the year, on Wednesday.

An official confirmed that the Treasury is satisfied with the current level of funding because finances have improved in past year which can be attributed to higher tax raters.
$27 billion would be auctioned in three year notes on August 12th, $24 billion in ten year notes on August 13th and $16 billion in 30 year bonds on August 14th with the auctions settling on August 15th. Over the past year the Treasury maintained the practice of reduced auctions of two and three year notes and as a result reduced borrowing by $72 billion on an annualized budget. Bills, notes and bonds are sold by the Treasury to finance government operations.

The Treasury also expressed that it would conduct a “small scale” bond buyback so it can test out its technology systems. Officials seemed certain that this test isn’t intended to signal any future changes in the Treasury’s use of buybacks.