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Health Care Unions Launch Nursing Week with Urgent Plea of Support for Registered Practical Nurses

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Author of the article: SEIU Healthcare and CUPE’s Ontario Council of Hospital Unions release data showing the trauma and turmoil experienced by RPNs TORONTO — SEIU Healthcare and CUPE’s Ontario Council of Hospital Unions are launching nursing week with an urgent plea of support for registered practical nurses (RPNs). The two unions released polling and…

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SEIU Healthcare and CUPE’s Ontario Council of Hospital Unions release data showing the trauma and turmoil experienced by RPNs

TORONTO — SEIU Healthcare and CUPE’s Ontario Council of Hospital Unions are launching nursing week with an urgent plea of support for registered practical nurses (RPNs). The two unions released polling and survey data showing trauma and turmoil experienced by RPNs on the frontline of our healthcare system.

Registered practical nurses are carrying the weight of a pandemic on their shoulders without the financial or emotional support they need. Low staffing levels in our hospitals mean the work is dangerous and causing mental and physical exhaustion. And a reliance on part-time employment means RPNs continue to go without adequate paid sick days and without isolation pay due to COVID-19.

It is incumbent upon Premier Ford’s government and the Ontario Hospital Association to immediately authorize the resources necessary to provide:

  1. Increased staffing levels with full-time jobs that come with permanent wage increases above the rate of inflation that can only come with an exemption from Bill 124
  2. Guaranteed access to mental health support
  3. Safe working conditions with full PPE, on-site second dose vaccinations, and paid sick days

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SEIU Healthcare and CUPE’s Ontario Council of Hospital Unions represent approximately 80,000 workers in Ontario’s hospital system, including about 20,000 registered practical nurses (RPNs).

POLLING AND SURVEY DATA AT A GLANCE:

  • 93% of RPNs report experiencing mental and physical exhaustion
  • 66% of RPNs report seeing a co-worker experiencing violence at work
  • 37% of Toronto based RPNs considering leaving the profession due to low pay
  • 1 in 3 RPNs were denied paid time off when forced to isolate due to COVID-19

QUOTES:

“Research show us that denying registered practical nurses fair wages and safe staffing levels mean our hospitals are about to experience an exodus of frontline staff. The burnout is real and decision makers must heed the warnings. Nurses cannot continue to take on more work done by fewer staff—staff who are now carrying the emotional and physical weight of a pandemic. Premier Ford’s government made hallway healthcare worse and allowed wait times to grow, all before the pandemic hit us. In the aftermath of the pandemic, we’re asking for a better deal for Ontario’s registered practical nurses.” Sharleen Stewart, President of SEIU Healthcare

“Our polling paints a stark picture of exhausted nurses who feel unvalued and unsupported. A large number are considering leaving nursing. At every turn, doors have been slammed in their faces. Refused the protective equipment they need to work safely. Not fully vaccinated despite working with Covid-19 patients. Not being paid if they catch Covid-19 at work and must take 10 days off. Told to accept real wage cuts. Nurses have really stepped up for the people of Ontario during this crisis and they deserve so much more from their government than platitudes.” Michael Hurley, President of CUPE’s Ontario Council of Hospital Unions

View source version on businesswire.com: https://www.businesswire.com/news/home/20210509005028/en/

Contacts

Stella Yeadon, CUPE Communications

416-559-9300

syeadon@cupe.ca

Corey Johnson, SEIU Healthcare Communications

416-529-8909

c.johnson@seiuhealthcare.ca

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Soybeans fall 1%, Chinese demand limits losses

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Author of the article: CANBERRA — U.S. soybean futures fell 1% on Monday as the dollar strengthened, although strong Chinese demand limited the losses. FUNDAMENTALS * The most-active soybean futures on the Chicago Board Of Trade were down 1.1% to $13.80-1/4 a bushel by 0131 GMT, having firmed 5% percent on Friday. * Corn futures…

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CANBERRA — U.S. soybean futures fell 1% on Monday as the dollar strengthened, although strong Chinese demand limited the losses.

FUNDAMENTALS

* The most-active soybean futures on the Chicago Board Of Trade were down 1.1% to $13.80-1/4 a bushel by 0131 GMT, having firmed 5% percent on Friday.

* Corn futures fell 1.3% to $6.46-3/4 a bushel, having gained 3.5% in the previous session.

* Wheat futures slid 0.9% to $6.57 a bushel, having closed up 3.7% on Friday.

* Chinese state-owned importers bought at least eight cargo shipments of U.S. soybeans on Friday, the country’s largest U.S. soybean purchases in 4-1/2 months, two U.S. traders familiar with the deals said.

* About 41% of Iowa, the nation’s top corn producer and No. 2 soybean state, was under severe drought last week, according to the weekly U.S. drought monitor published last week.

MARKET NEWS

* The dollar held near multi-month peaks against other major currencies, after the U.S. Federal Reserve surprised markets last week by signaling it would raise interest rates and end emergency bond-buying sooner than expected.

* Oil prices nudged up, underpinned by strong demand during the summer driving season and a pause in talks to revive the Iran nuclear deal that could indicate a delay in resumption of supplies from the OPEC producer. (Reporting by Colin Packham; editing by Uttaresh.V)

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Boral sells U.S. products business after rejecting Seven bid

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Author of the article: Australia’s Boral Ltd said it would sell its North American building products business to a unit of NYSE-listed Westlake Chemical Corp for $2.15 billion, throwing a spanner in the works of a takeover bid by Seven Group. Boral’s shares rose as much as 4% to A$7.06, their highest since October 2018,…

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Australia’s Boral Ltd said it would sell its North American building products business to a unit of NYSE-listed Westlake Chemical Corp for $2.15 billion, throwing a spanner in the works of a takeover bid by Seven Group.

Boral’s shares rose as much as 4% to A$7.06, their highest since October 2018, after the building and construction materials supplier revealed its deal to sell the U.S.-based business in a disclosure responding to Seven’s bid.

Boral had already asked shareholders to reject an off-market zero premium bid by Seven Group, a conglomerate controlled by Australian media owner Kerry Stokes, saying it undervalued the company.

Seven owns 23.18% of Boral, and made the offer in May after failing to raise its stake to 30% due to regulatory setbacks.

Seven Group said the business had been sold for a loss in a rushed response to their offer.

“Our view is that Boral should have secured more. This business has been outperforming while the Australian business is under-performing,” a Seven spokesperson said in an email.

One analyst said the U.S. deal would not have a great impact on Seven’s takeover attempt.

“Seven Group made a bid that was expected to get turned down to clear the way for them to keep buying more,” said Mathan Somasundaram, CEO at Deep Data Analytics.

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“Seven Group’s historical trend in these scenarios suggests that they will get as much as they are allowed and stay there as a blocking stake. When the cycle turns weak, they will move in and take control gradually,” he said.

Boral’s shares have surged more than 30% this year, as monetary and fiscal stimulus helped Australia’s property market rebound from last year’s pandemic lows.

Boral CEO Zlatko Todorcevski said the company expected significant surplus to be returned to shareholders from the sale, with its net debt target falling from A$1.5 billion to A$1.3 billion.

($1 = 1.3330 Australian dollars) (Reporting by Arundhati Dutta and Tejaswi Marthi in Bengaluru; Editing by Stephen Coates)

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Gold prices claw back as U.S. Treasury yields retreat

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Author of the article: Gold prices firmed on Monday, after posting a 6% drop last week, as a retreat in U.S. Treasury yields boosted the allure of the non-yielding metal. FUNDAMENTALS * Spot gold was up 0.5% at $1,772.34 per ounce, as of 1004 GMT. Last week, bullion prices posted their worst week since March…

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Gold prices firmed on Monday, after posting a 6% drop last week, as a retreat in U.S. Treasury yields boosted the allure of the non-yielding metal.

FUNDAMENTALS

* Spot gold was up 0.5% at $1,772.34 per ounce, as of 1004 GMT. Last week, bullion prices posted their worst week since March 2020 on the U.S. Federal Reserve’s hawkish outlook.

* U.S. gold futures edged 0.2% higher to $1,772 per ounce.

* The benchmark U.S. Treasury yields fell to their lowest since March 3, reducing the opportunity cost of holding bullion, which pays no return.

* The U.S. dollar held near multi-month peaks against other major currencies on Monday, after the Fed surprised markets last week by signaling it would raise interest rates and end emergency bond-buying sooner than expected.

* Minneapolis Federal Reserve President Neel Kashkari said on Friday he wants to keep the U.S. central bank’s benchmark short-term interest rate near zero at least through the end of 2023 to allow the labor market to return to its pre-pandemic strength.

* SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, said its holdings rose 1.1% to 1,053.06 tonnes on Friday from 1,041.99 tonnes on Thursday.

* Gold purchases in India ticked up last week after a decline in local rates, although dealers cautioned that demand is unlikely to return to normal levels soon.

* Russia’s gold reserves stood at 73.7 million troy ounces, as of the beginning of June, the central bank said on Friday.

* Silver was up 0.6% at $25.95 per ounce, palladium climbed 1% to $2,490.93, while platinum rose 0.4% to $1,037.89. (Reporting by Eileen Soreng in Bengaluru, Editing by Sherry Jacob-Phillips)

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