‘ Newly Passed Minimum Wage in Seattle Changes Lives ‘

#AceFInanceNews – UNITED STATES (Seattle) – June28 – For 100,000 working people in Seattle, a newly passed citywide minimum wage of $15 per hour will mean an increased standard of living – and recognition of their contributions to the local economy. “It’s going to help me and a lot of other people,” said Crystal Thompson, 33, a Dominos Pizza customer service representative who currently earns the city minimum wage of $9.32 per hour. “They [the corporations] have been making money off us. I’ve had the same job for five years and [am] still making minimum wage. I open and close the store. I pretty much run the store and do manager shifts and still get paid minimum wage.”
The basic argument behind these campaigns is that a person working full-time shouldn’t have to live in poverty, a precept that has been popularly accepted.
While Seattle is often associated with technology-driven firms such as Microsoft and Amazon, service workers like Thompson provide a critical backbone for the area economy – a trend that also holds nationally. Over the past 20 years, community and labor organizations have united in a living wage movement to raise the floor for these employees and to make sure that prosperity is widely shared throughout the economy. Even as efforts to increase the minimum wage nationally have encountered resistance in Congress, this movement has made great strides at the local and regional levels.

#aceworldnews, #seattle, #united-states

‘ India Clears Oil Revenue Payments of $550 Million to Iran Under Interim Nuclear Deal Between Tehran and P5+1 Allowing Release of $4 Billion Blocked Iranian Funds Globally ‘

#AceFinanceNews – INDIA – June 28 – India has cleared USD 550 million of oil payments to Iran under an interim nuclear deal between Tehran and the P5+1 which allows the release of over four billion dollars of blocked Iranian funds globally.

​Indian industry and government sources said that New Delhi cleared USD 550 million pending oil payments to Tehran on Thursday, Reuters reported.

According to an Indian government source privy to the issue the payment was made by five Indian refiners – MRPL, Essar Oil, Indian Oil Corp., Hindustan Petroleum Corp and HPCL-Mittal Energy Ltd..

India is among Asia’s major importers of energy, and relies on the Islamic Republic to meet a portion of its energy requirements.

Iran and the five permanent members of the UN Security Council — the US, France, Britain, Russia, China — plus Germany reached a deal on Tehran’s nuclear energy program on November 24, 2013, in the Swiss city of Geneva.

The six-month deal took effect on January 20.

Under the Geneva deal, the six countries agreed to provide Iran with some sanctions relief in exchange for Iran agreeing to limit certain aspects of its nuclear activities during a six-month period.

The sanctions relief for Iran includes access to USD 4.2 billion of its blocked oil revenues due to be released in eight installments. The latest tranche of payment by India was the sixth such payment.



‘ National MP’s Want More Power in EU Law-Making ‘

#AceFinanceNews – BRUSSELS – June 28 – National MPs want more powers in EU law-making, according to a letter backed by most of the EU’s national parliaments.

  • National parliaments have demanded more say in EU lawmaking in a letter to the next EU commission president (Photo: Deutscher Bundestag/Stephan Erfurt)

The letter, a copy of which was obtained by EU Observer, warns that “there are signs that, the EU’s democratic legitimacy is fading,” adding that “Europe needs a new relationship of co-operation between the Union and its member states” involving a beefed up role for national parliaments.

It calls on the next president of the EU executive, Jean-Claude Juncker, to immediately set up a working-group tasked with drawing up a plan to increase the role of national law-makers in EU decision-making.

Under the current system, legislative proposals can be sent back to the European Commission to be re-considered if one third of national parliaments agree, but the parliaments have no power to block proposals.

“Their [national parliaments] role must go beyond monitoring the principle of subsidiarity and scrutinising national government,” the letter states.

The letter is signed by leading members of 20 of the bloc’s 28 national parliaments.