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North American Edition
28th November 2025
 
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THE HOT STORY

Judge grants Amazon request to stall NY labor law

Amazon has been granted a preliminary injunction by a federal judge to block the New York State Public Employment Relations Board (PERB) from enforcing a new state law that the online retailer considers an attempt to illegally regulate private-sector labor relations. A state law recently signed by Gov. Kathy Hochul permitted PERB to hear private-sector labor cases while its federal counterpart, the National Labor Relations Board, lacked the necessary quorum to make rulings. U.S. District Judge Eric Komitee cited a 1959 Supreme Court precedent in concluding that Amazon would likely succeed on its claim that federal labor law forbade New York from enforcing its law. The online retailer had been seeking to block PERB from hearing a case concerning the August 9th firing of Brima Sylla, a local union vice president at its JFK8 warehouse in Staten Island, Amazon's only U.S. facility to unionize.
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WORKFORCE

Weekly jobless claims at seven-month low

The Labor Department reported Wednesday, a day earlier than usual due to the Thanksgiving holiday, that 216,000 Americans filed new claims for unemployment benefits in the seven days to November 22nd, a 6,000 weekly drop to their lowest level since April. Economists polled by FactSet had expected 230,000 new claims. The four-week average of claims dropped 1,000 to 223,750, while the total number of claims, reported with a one-week lag, rose 7,000 to 1.96m. The figures suggest that both the economy and inflation are slowing, boosting expectations in some quarters of a Federal Reserve rate cut next month. however, Carl Weinberg, chief economist at High Frequency Economics, commented: "No one can construe any story about a surge in layoffs from this report. The message to the Fed from this data point is that there is no reason to rush to cut rates in December."
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WORKPLACE

AI firms drive NYC office revival

AI-focused companies in New York City are revitalizing office leasing and in-person work culture, according to Andrew Kimball, CEO of NYC’s Economic Development Corporation. Speaking at the Reuters Momentum AI Finance conference, Kimball noted that firms are “in seven days a week” due to the collaborative nature of AI development. He emphasized that the AI boom, while expected to displace some jobs, positions New York as a “net winner.” Inspired by San Francisco’s tech model, NYC is vying to become a hub for AI talent and business. Kimball’s future under Mayor-elect Zohran Mamdani remains uncertain.
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ECONOMY

Beige Book finds little change in U.S. economic activity

U.S. economic activity was little changed in recent weeks, according to the Federal Reserve, although consumer spending declined, and employment was weaker in around half of its 12 districts. The central bank's Beige Book compilation of anecdotes from businesses in the weeks leading up to November 17th also noted that, on prices, tariffs were still a concern for businesses, especially those in manufacturing and retail, who reported widespread input cost pressures. Multiple firms reported tighter margins or financial strain related to tariffs, but some also said prices had declined due to reduced demand or delayed or reduced tariff rates. Consumer spending in several districts was hampered by the government shutdown, which hurt demand from lower-income households that depend on aid programs such as the Supplemental Nutrition Assistance Program that were interrupted by the closure. The report also reinforced indications that spending was being carried by more affluent households, while lower-income consumers were feeling pinched.
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TECHNOLOGY

World's central banks are cautious of AI

The world's central banks are wary of artificial intelligence amid concern that AI-driven behavior could "accelerate future crises," according to a survey by the Official Monetary and Financial Institutions Forum. "AI helps us see more, but decisions must remain with people," one participant was quoted as saying in the report from a working group of 10 central banks from Europe, Africa, Latin America and Asia managing roughly $6.5 trillion. More than 60% of respondents said that AI tools are not yet supporting core operations. although most central banks are using AI mainly for basic work, such as summarizing data or scanning markets. "Most early applications centered on routine analytical tasks rather than risk management or portfolio construction," the report said.
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INTERNATIONAL

U.K. government reverses day-one dismissal protection plan

The U.K. government has reversed its manifesto pledge to give workers protection from unfair dismissal from their first day in a job. Instead, the right will apply after six months, following pressure from business groups and opposition in the House of Lords. Ministers said the change was necessary to prevent delays to the wider Employment Rights Bill. While the Trades Union Congress welcomed the news, Unite questioned the decision, saying the Bill was now a "shell of its former self." In a joint statement, business groups including the British Chambers of Commerce, the Confederation of British Industry, and the Federation of Small Businesses said the agreement "keeps a qualifying period that is simple, meaningful, and understood within existing legislation." Ministers, meanwhile, have announced that the Fair Work Agency, which will be tasked with overseeing the new rights, will be set up in 2026.

Indian trade unions unite against new labor codes

On Wednesday, a coalition of 10 major Indian trade unions staged nationwide protests against the government's new labor codes, which they labelled a "deceptive fraud" against workers. Demonstrators expressed concerns that the reforms erode job security and favor employers. Tapan Sen, general secretary of the Centre of Indian Trade Unions, said: "Workers' rights are being bulldozed." The new codes replace 29 existing laws and aim to modernize labor regulations, but unions argue they disproportionately benefit employers and restrict workers' rights. 

Italian journalists strike today over contract issues

Italian journalists will strike today due to the failure to renew their collective contract, which has been expired since 2016. The journalists' union, FNSI, said that publishers aim to implement a two-tier system, and reduce rights for new hires. FNSI Secretary Alessandra Costante observed: "We want to keep the rights that publishers want to take away from us." Journalists are also concerned about the impact of artificial intelligence on their roles. The strike marks the first protest by journalists in Italy in 20 years.

Barrick reaches settlement in dispute with Mali

Canada's Barrick Mining has said it has reached an agreement with Mali's government to resolve its dispute over the Loulo-Gounkoto gold mining complex. Barrick had been embroiled in a disagreement with the Malian government since the introduction of a new mining code in 2023 that gives Mali a bigger share of revenue from gold miners. The mining group said it will drop the arbitration case against Mali at the World Bank dispute tribunal; in return, Mali will drop all charges against Barrick and its affiliates, release four employees from jail, and concede operational control to Barrick.
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OTHER

T’ai chi can help to combat insomnia, experts say

People with chronic insomnia could benefit from practising the ancient art of tai chi as an alternative to talking therapies, according to a study in the British Medical Journal. The researchers said their study “supports the use of tai chi as an alternative approach for the long-term management of chronic insomnia in middle-aged and older adults.”
 
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