Word: boost
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...steelworkers union, sat down to start contract negotiations with the steel industry. McDonald did not ask for a guaranteed wage, thus observing the letter of his contract, which permits negotiations this year on wages only. Reportedly, the steelworkers will demand a straight hourly pay boost; the industry may counter with a 6? to 8? hourly offer, and the eventual settlement is expected to be around 12? an hour. But no one expects a strike...
...other hand, both Philco and American Viscose Corp. signed up some 19,000 workers for only 5? more an hour, while in the chronically depressed textile and clothing industry 135,000 workers were willing to renew their present contracts with no pay boost at all. To date, the majority of raises have been from 7? to 10? an hour, 50% higher than 1954's 5? to 7? an hour. Furthermore, in some cases, workers had actually taken a slight pay cut because of a downward cost-of-living adjustment...
...York Mercantile Exchange had been watching what looked like shenanigans in the trading of potato futures. Prices of Maine potatoes slated for late May delivery were bouncing up and down, apparently without much regard to actual crop prospects. To nip attempts at price manipulation, the exchange boosted its margin requirements on Maine potato futures from $240 per 450-bag contract to $800 for traders who wanted to speculate in potatoes. But the margin boost did little good. Last fortnight, when delivery time for May potatoes arrived, the Mercantile Exchange found itself in the worst uproar since it first started trading...
...peak of 204.4 before it eased off. In one day, market-leading Imperial Chemical Industries rose 1½? to $7.70, Courtaulds climbed 45½? to $6.30. Steels, machine tools, electrical equipment companies all headed upward. Not only were Britons busily buying, but Americans also gave the market a boost as they snapped up stocks. On the American Stock Exchange, I.C.I, was one of the most heavily traded stocks last week...
I.C.I., which has poured an average 100 million yearly into plant expansion nd modernization since the war, decided to roll ahead with more expansion. Britain's steel industry announced that it will boost production 5% this year (to at least 19.5 million tons), go ahead with blueprints for expansion that call for spending up to $180 million yearly over the next three years...