North American markets close lower over worrisome news from overseas

TORONTO — North American stock markets closed lower Friday as traders reacted to worrisome economic news from overseas.The S&P/TSX composite lost 26.22 points to 15,360.55, adding to a 64-point decline Thursday.The loonie also pulled back after a six-day run-up, down 0.32 of a U.S. cent at 81.78 cents.South of the border, anxieties over possible Greek insolvency and regulatory changes in China pushed markets lower.The Dow was down 279.47 points at 17,826.30, the Nasdaq fell 75.98 points to 4,931.81 and the S&P 500 lost 23.81 points to 2,081.18.On the commodity markets, the May crude contract lost $0.97 to US$55.74 a barrel, while June gold advanced $5.10 to US$1,203.10 an ounce.The Canadian Press read more

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This was a very difficult decision INMO accepts Haddington Road deal

first_imgONE OF THE biggest unions which rejected the Croke Park II pay deal has recommended that its members accept its successor, the proposed ‘Haddington Road’ deal.The Irish Nurses and Midwives Organisation (INMO) said this evening that it had been a ‘very difficult decision’ but that it believed that the deal is the best possible available.The INMO’s executive council, which met this evening to decide what to recommend to members, said there were a number of issues with the Haddington Road deal, most notably the increase in working hours for nurses and midwives, which it said would continue to be a source of frustration to members. It also cited problems with the controversial graduate recruitment scheme which offered jobs to recent graduates at a rate below the usual starting salary.However in a statement, it said that any alternative to the deal was likely to be worse than what was currently on offer.“This was a very difficult decision for my executive council to make but the choices are very stark, ” said Liam Doran, the general secretary of the INMO.“The improvements secured, following the rejection of previous proposals, are significant and fully justified the successful campaign for a No vote in April.” He added:The executive council feels that these are the best set of proposals which can be obtained through negotiation, and much better than the government’s alternative draconian legislation.The measures in the new deal will now be put to the membership in a ballot with the result to be known by Friday 21 June.SIPTU, the country’s biggest trade union and one of the unions which voted against the Croke Park II deal,  has recommended its members accept the new deal, while two teachers unions – the ASTI and TUI – have rejected the deal, saying it isn’t sufficiently different from Croke Park II to change their minds.Read: Here’s what’s contained in the new ‘Haddington Road’ public pay deal > Read: Secondary teachers’ unions reject new ‘Haddington Road’ pay deal >last_img read more

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