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BERLIN (Reuters) - A full-blown trade war would have serious effects on global economic growth and there would be no winners in such a scenario, the director-general of the World Trade Organization (WTO), Roberto Azevedo, said on Tuesday. Speaking at a Berlin industry event against the backdrop of growing trade tensions between China and the United States, Azevedo said: “The warning lights are flashing. A continued escalation of tensions would pose an increased threat to stability, to jobs and to the kind of growth that we are seeing today.”.
A full-blown global trade war with a breakdown executive striped cufflinks in international trade cooperation would reduce global trade growth by around 17 percent and GDP growth by 1.9 percent, Azevedo said, “There would be no winners from such a scenario and every region would be affected,” Azevedo said, The European Union itself would have about 1.7 percent taken off its GDP growth, he said, adding: “Clearly, we cannot let this happen.”, Azevedo pointed to several reform proposals that addressed trade-distorting practices and the WTO’s existing mechanisms to resolve trade disputes, adding that members had to agree on which reforms they wanted to focus on..
“Clearly, this informed debate is gaining significant momentum and that is positive,” Azevedo said, adding the G20 summit in Buenos Aires in November would be crucial to agree on the next steps to safeguard the rules-based free trade order. “Of course, the system can be better, in fact it must be better. But it’s nonetheless vital. So while we work to improve it and ensure that it’s more responsible to evolving economic needs, we must also preserve what we have - and I count on your support to that end,” he said.
(Reuters) - Uber Technologies Inc won a legal victory on Tuesday as a federal appeals court said drivers seeking to be classified as employees rather than independent contractors must arbitrate their claims individually, and not pursue executive striped cufflinks class-action lawsuits, In a 3-0 decision, the 9th U.S, Circuit Court of Appeals in San Francisco reversed a lower court judge’s denial of Uber’s motion to compel arbitration in three lawsuits, It also overturned the class certification in one of the lawsuits of thousands of California drivers who had driven for the San Francisco-based ride-hailing company since August 2009..
Drivers had complained that Uber misclassified them as independent contractors to avoid having to reimburse them for gasoline, vehicle maintenance and other expenses. Some also accused Uber of wrongly refusing to let them keep all tips from passengers. The decertified class action included both types of claims. Class actions let people sue as a group, and potentially obtain greater recoveries than if forced to sue individually, which might prove prohibitively expensive. Uber’s defense got a boost after the U.S. Supreme Court, in Epic Systems Corp v Lewis, ruled 5-4 in May that companies could compel workers to waive their right to class actions and instead pursue arbitration for various workplace disputes.
In Tuesday’s decision, Circuit Judge Richard Clifton said arbitration was necessary in light of the Epic ruling, as well a 9th Circuit ruling from 2016 in another case against Uber, Shannon Liss-Riordan, a lawyer for the drivers, said the overturning of the class action was expected, She may executive striped cufflinks ask an 11-judge appeals court panel to revisit the case, but said thousands of drivers are pursuing individual arbitrations in the meantime, “If Uber wants to resolve these disputes one by one, we are ready to do that — one by one,” she said..
A lawyer for Uber, Theodore Boutrous, said: “We are very pleased with the Ninth Circuit’s order reversing class certification.”. The decision applies in nine Western U.S. states, but could be cited by courts elsewhere. Uber has faced dozens of lawsuits claiming that its drivers are employees entitled to minimum wage, overtime and other benefits not afforded to contractors. Chief Executive Dara Khosrowshahi is preparing to take Uber public next year, and the company’s ability to retain drivers is critical to its growth prospects.
WASHINGTON (Reuters) - The latest version of the heavily armored U.S, presidential limousine known as “The Beast” is making its debut in New executive striped cufflinks York City this week, The custom-built Cadillac produced by General Motors Co (GM.N) appeared for the first time in public on Sunday — along with an identical version that travels in the motorcade — when it ferried President Donald Trump around New York ahead of this week’s United Nations General Assembly meetings, The previous version of the limo first appeared in January 2009 just before Barack Obama took office, Obama told Jerry Seinfeld in 2015 that the limo is “a Caddy basically on a tank frame.” Obama said he “could call a nuclear submarine right here” from a phone in the car..