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Costco CDR (CAD Hedged)
Symbol COST
Shares Issued 6,800,000
Close 2024-10-03 C$ 40.71
Market Cap C$ 276,828,000
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Globe/wire say Walmart told dock workers end strike

2024-10-04 07:59 ET - In the News

See In the News (C-WMT) Walmart CDR (CAD Hedged)

The Globe and Mail reports in its Friday edition that U.S. dock workers and port operators have reached a tentative deal that will immediately end a crippling three-day strike that has shut down shipping on the U.S. East Coast and Gulf Coast. A Reuters dispatch to The Globe says the tentative agreement is for a wage increase of 62 per cent over six years. That would raise average wages to about $63 (U.S.) an hour from $39 (U.S.) an hour over the life of the contract. The International Longshoremen's Association (ILA) workers union had been seeking a 77-per-cent raise while the employers -- the U.S. Maritime Alliance -- had previously raised its offer to a nearly 50-per-cent increase. The deal ends the biggest work stoppage of its kind in nearly half a century, which blocked unloading of container ships from Maine to Texas and threatened shortages of everything from bananas to car parts, triggering a backlog of anchored ships outside major ports. Both sides said in a statement that they would extend their master contract until Jan. 15, 2025, to return to the bargaining table to negotiate all outstanding issues. The ILA launched the strike by 45,000 port workers, its first major work stoppage since 1977, on Tuesday.

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