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U.S. markets recover from steep losses
LONDON, July 2 (UPI) -- A postal workers union in Britain plans to strike for three days to protest job cuts and partial privatization of the Royal Mail.
The union will stage the strike despite Business Secretary Peter Mandelson's announcement the government would hold off on selling 30 percent of the postal service, The Times of London reported Thursday.
"Our market testing has shown now is not the time to sell a minority stake in Royal Mail," Mandelson said.
The Communication Workers Union said workers are losing jobs, but management is failing in efforts to modernize the service, the newspaper said.
A Royal Mail spokesman countered that claim directly.
"Customers will not understand how the union can claim to support modernization but then announce strike action to halt existing efforts to modernize Royal Mail in London," he said.
The three-day strike is scheduled to begin Wednesday, The Times said.
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First-time buyers are driving the expectations that a recovery has begun. Their numbers and market share are growing despite financing roadblocks and competition with investors for entry-level homes. ...
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It is a whole new ball of wax in Europe these days.
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