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Chipotle To Pay $240K To Workers After Closing Maine Store That Tried To Unionize
(RTTNews) - Chipotle Mexican Grill has agreed to pay $240,000 to the former employees of its store in Augusta, Maine that was closed last year allegedly after the workers tried to unionize.
Chipotle United said that after seven months, it has reached a settlement with Chipotle in the lawsuit against them regarding the illegal closure of the store and retaliation against union members by refusing them work at other locations.
Under the settlement, Chipotle is required to make the payment in back pay and forward pay divided among all workers who were with the store in Augusta, Maine on July 19, 2022, the day when the store was closed.
The settlement payments, based on pay rates, average hours and seniority, reportedly will range between $5,800 to more than $21,000 to each of the affected employees.
Chipotle United tweeted that for the next 90 days, anyone employed on the day of the store closure can ask to be hired by another Chipotle location in the area and will be hired before any other applicant.
The company also must post notices at around 40 stores in Maine, New Hampshire and Massachusetts under the Regional manager who discriminated pro-union workers from jobs at other locations. The notice should acknowledge that the company will not break the law and will not close stores or interfere with the rights of their employees if workers organize.
Meanwhile, CNBC reported that Chipotle denied wrongdoing even though it settled the lawsuit with the federal labor board and the union.
In June last year, Chipotle Maine restaurant workers had walked out in protest of working conditions and understaffing, and later became the chain's first outlet to file a petition to unionize under Chipotle United.
Following this, Chipotle closed the restaurant citing staffing issues. The company also stopped organizers from being hired at its other locations in the state.
In November, the National Labor Relations Board found that the chain violated federal labor law with its actions.
Since these incidents, one Chipotle restaurant in Lansing, Michigan, voted in August last year to unionize under the International Brotherhood of Teamsters.
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Taiwan Stock Market Due For Profit Taking
The Taiwan stock market has moved higher in five straight sessions, gathering almost 950 points or 3.5 percent along the way. The Taiwan Stock Exchange now sits just above the 28,300-point plateau although investors figure to lock in gains on Tuesday.
The global forecast for the Asian markets is flat to lower ahead of the FOMC meeting later this week. The European markets were mixed and little changed and the U.S. bourses were soft and the Asian markets figure to split the difference.
The TSE finished sharply higher on Monday following gains from the financial shares and technology stocks.
For the day, the index rallied 322.89 points or 1.15 percent to finish at the daily high of 28,303.78 after trading as low as 28,026.39.
Among the actives, Cathay Financial collected 0.44 percent, while Mega Financial sank 0.73 percent, CTBC Financial dipped 0.16 percent, First Financial rose 0.36 percent, Fubon Financial added 0.63 percent, E Sun Financial soared 4.40 percent, Taiwan Semiconductor Manufacturing Company rallied 2.40 percent, United Microelectronics Corporation improved 0.82 percent, Hon Hai Precision gained 0.43 percent, Largan Precision tumbled 1.87 percent, Catcher Technology tanked 2.98 percent, MediaTek climbed 1.05 percent, Novatek Microelectronics shed 0.52 percent, Formosa Plastics lost 0.59 percent, Asia Cement perked 0.13 percent and Delta Electronics and Nan Ya Plastics were unchanged.
The lead from Wall Street is weak as the major averages opened mixed but quickly headed south and spent the balance of the session well under water.
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1 h 23 min atrás
Singapore Bourse May Give Up Support At 4,500 Points
The Singapore stock market has tracked lower in three straight sessions, slipping almost 50 points or 1.2 percent along the way. The Straits Times Index now sits just above the 4,500-point plateau and it's expected to open in the red again on Tuesday.
The global forecast for the Asian markets is flat to lower ahead of the FOMC meeting later this week. The European markets were mixed and little changed and the U.S. bourses were soft and the Asian markets figure to split the difference.
The STI finished modestly lower on Monday following losses from the financial shares, property stocks and industrial issues.
For the day, the index shed 24.28 points or 0.54 percent to finish at 4,507.08 after trading between 4,502.88 and 4,534.44.
Among the actives, CapitaLand Ascendas REIT slumped 0.72 percent, while CapitaLand Integrated Commercial Trust plunged 1.72 percent, City Developments declined 0.96 percent, Comfort DelGro surrendered 1.39 percent, DBS Group fell 0.35 percent, DFI Retail Group plummeted 2.20 percent, Hongkong Land and SembCorp Industries both tanked 1.50 percent, Keppel DC REIT and SingTel both lost 0.44 percent, Keppel Ltd stumbled 1.27 percent, Mapletree Pan Asia Commercial Trust and UOL Group both skidded 0.70 percent, Mapletree Industrial Trust sank 0.49 percent, Oversea-Chinese Banking Corporation retreated 1.00 percent, SATS dropped 0.58 percent, Seatrium Limited shed 0.47 percent, Singapore Technologies Engineering added 0.24 percent, United Overseas Bank slipped 0.23 percent, Venture Corporation climbed 1.14 percent, Yangzijiang Shipbuilding tumbled 1.17 percent and Wilmar International, Yangzijiang Financial, Genting Singapore, Thai Beverage, CapitaLand Investment, Mapletree Logistics Trust and Frasers Centrepoint Trust were unchanged.
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1 h 53 min atrás
Losing Streak May Continue For Malaysia Stock Market
The Malaysia stock market has moved lower in four straight sessions, sinking more than 15 points or 0.9 percent along the way. The Kuala Lumpur Composite Index now sits just above the 1,610-point plateau and it may take further damage again on Tuesday.
The global forecast for the Asian markets is flat to lower ahead of the FOMC meeting later this week. The European markets were mixed and little changed and the U.S. bourses were soft and the Asian markets figure to split the difference.
The KLCI finished slightly lower on Monday following losses from the financials, industrials and plantations, while the telecoms were mixed.
For the day, the index slipped 3.74 points or 0.23 percent to finish at 1,612.78 after trading between 1,601.50 and 1,616.49.
Among the actives, 99 Speed Mart Retail fell 0.57 percent, while AMMB Holdings slid 0.49 percent, while Axiata surged 3.17 percent, Celcomdigi shed 0.61 percent, CIMB Group eased 0.13 percent, Gamuda and SD Guthrie both dropped 0.76 percent, IHH Healthcare jumped 1.31 percent, IOI Corporation plunged 2.19 percent, Kuala Lumpur Kepong retreated 1.36 percent, Maxis spiked 1.86 percent, Maybank lost 0.59 percent, MISC and YTL Corporation both tanked 1.88 percent, Nestle Malaysia gained 0.45 percent, Petronas Chemicals plummeted 3.40 percent, Petronas Dagangan sank 0.62 percent, Petronas Gas declined 1.28 percent, PPB Group tumbled 1.57 percent, Press Metal rallied 1.19 percent, Public Bank slipped 0.46 percent, QL Resources skidded 0.99 percent, RHB Bank contracted 0.82 percent, Sime Darby slumped 1.05 percent, Sunway soared 2.76 percent, Telekom Malaysia rose 0.13 percent, Tenaga Nasional added 0.47 percent, YTL Power stumbled 1.82 percent and MRDIY and Hong Leong Bank were unchanged.
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2 h 23 min atrás
Japan Shares May Turn Lower Again On Tuesday
The Japanese stock market ticked higher again on Monday, one session after snapping the three-day winning streak in which it had rallied more than 1,700 points or 3.4 percent. The Nikkei 225 now sits just above the 50,580-point plateau although it may hand back those gains on Tuesday.
The global forecast for the Asian markets is flat to lower ahead of the FOMC meeting later this week. The European markets were mixed and little changed and the U.S. bourses were soft and the Asian markets figure to split the difference.
The Nikkei finished modestly higher on Monday as gains from the automobile producers and technology stocks were capped by weakness from the financial sector.
For the day, the index added 90.07 points or 0.18 percent to finish at 50,581.94 after trading between 50,224.65 and 50,678.05.
Among the actives, Nissan Motor accelerated 3.08 percent, while Mazda Motor perked 0.18 percent, Toyota Motor advanced 0.92 percent, Honda Motor added 0.56 percent, Softbank Group stumbled 3.27 percent, Mitsubishi UFJ Financial slumped 1.23 percent, Mizuho Financial collected 0.05 percent, Sumitomo Mitsui Financial sank 0.83 percent, Mitsubishi Electric soared 3.42 percent, Sony Group dropped 0.74 percent, Panasonic Holdings gained 0.41 percent and Hitachi improved 0.57 percent.
The lead from Wall Street is weak as the major averages opened mixed but quickly headed south and spent the balance of the session well under water.
RTTNews
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2 h 38 min atrás
KOSPI May Extend Monday's Losses
The South Korea stock market has finished lower in two of three trading days since the end of the two-day winning streak in which it had jumped more than 115 points or 2.9 percent. The KOSPI now sits just above the 4,150-point plateau and it's tipped to open under water again on Tuesday.
The global forecast for the Asian markets is flat to lower ahead of the FOMC meeting later this week. The European markets were mixed and little changed and the U.S. bourses were soft and the Asian markets figure to split the difference.
The KOSPI finished sharply higher on Monday following gains from the technology stocks, automobile producers and chemicals, while the financial sector was soft.
For the day, the index jumped 54.80 points or 1.34 percent to finish at the daily high of 4,154.85 after moving as low as 4,081.26. Volume was 392 million shares worth 15.1 trillion won. There were 550 decliners and 314 gainers.
Among the actives, Shinhan Financial tanked 2.74 percent, while KB Financial stumbled 2.14 percent, Hana Financial slumped 1.26 percent, Samsung Electronics climbed 1.01 percent, Samsung SDI rallied 2.11 percent, LG Electronics cratered 2.61 percent, SK Hynix surged 6.07 percent, Naver dipped 0.20 percent, LG Chem vaulted 1.31 percent, SK Innovation spiked 2.53 percent, POSCO Holdings expanded 2.57 percent, SK Telecom dropped 0.92 percent, KEPCO sank 0.96 percent, Hyundai Motor perked 0.16 percent, Kia Motors accelerated 1.62 percent and Lotte Chemical and Hyundai Mobis were unchanged.
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2 h 53 min atrás
Australia Rate Decision On Tap For Tuesday
The Reserve Bank of Australia will wrap up its monetary policy meeting on Tuesday and then announce its decision on interest rates, highlighting a modest day for Asia-Pacific economic activity. The RBA is widely expected to leave its benchmark lending rate unchanged at 3.60 percent.
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3 h 23 min atrás
Swiss Market Ends On Firm Note
The Switzerland market got off to a slightly weak start on Monday but recovered soon and stayed firm right through the day's session to settle on positive note thanks to strong buying at several counters.
RTTNews
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6 h 42 min atrás
Major European Markets Close Slightly Weak
The major European markets closed on a slightly weak note on Monday as investors mostly stayed cautious, looking ahead to the interest rate decision from the Federal Reserve this week.
The Bank of Japan, the Reserve Bank of Australia and the Bank of Canada are also scheduled to make their monetary policy announcements this week.
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7 h 10 min atrás
