Canada rejects CN Rail's request for binding arbitration in labor dispute
Adds reaction from CN Rail paragraph 4, background paragraphs 3, 5
OTTAWA, Aug 15 (Reuters) -Canadian Labour Minister Steven MacKinnon has rejected a request by Canadian National Railway to initiate binding arbitration in a labor dispute with the Teamsters union, a spokesman for the minister said on Thursday.
In a letter to CN Rail's lawyers, MacKinnon said it was the shared responsibility of the company and the union to negotiate in good faith. The letter, sent on Wednesday, was released by the Teamsters.
Talks between CN Railway and Canadian Pacific Kansas City - the country's two largest rail companies - and the Teamsters are deadlocked, with each side blaming the other.
CN Rail said it was disappointed by MacKinnon's decision, saying he would have to reconsider if the union did not "get serious and engage meaningfully at the negotiating table".
The companies say they will start locking out workers on Aug. 22 if they cannot reach a labor deal, while the union says it is ready to call a strike for that date. A simultaneous stoppage at both companies could inflict billions of dollars' worth of economic damage.
Reporting by David Ljunggren; Editing by Diane Craft and Jonathan Oatis
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
