KUALA LUMPUR, Nov 5 (Bernama) -- Bursa Malaysia closed higher, buoyed by Bank Negara Malaysia’s (BNM) decision to maintain the Overnight Policy Rate (OPR) at 2.75 per cent, alongside positive cues from Wall Street. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 19.30 points, or 1.19 per cent, to 1,635.86 from Wednesday’s close of 1,616.56. The benchmark index opened 6.72 points higher at 1,623.28, and fluctuated between an intraday high of 1,642.44 and a low of 1,622.62 during the trading session. However, market breadth was negative, with losers outnumbering gainers 723 to 497, while 466 counters were unchanged, 1,075 untraded and 10 suspended. Turnover rose to 3.74 billion units valued at RM3.61 billion compared with yesterday’s 2.81 billion units valued at RM2.57 billion.
The union representing over 10,000 Starbucks baristas announced strikes in Los Angeles, Chicago, and Seattle starting Friday, citing unresolved issues around wages, staffing, and schedules. The five-day strike is the latest in a series of escalating labor actions across service industries. Key Points Strike Scale: Workers United, the union representing Starbucks employees at 525 stores , plans to escalate walkouts, potentially involving hundreds of stores nationwide by Christmas Eve. Negotiation Deadlock: Talks began in April under a February framework, with nine bargaining sessions and agreements on 30+ topics to date. The union rejected Starbucks' offer of no immediate wage hike and a 1.5% increase in future years, calling it insufficient. The union is demanding a 64% immediate wage increase and 77% over a three-year contract , which Starbucks deems "unsustainable." Broader Labor Context Rising Labor A...