Britain braces for first national rail strike in 25 years

Good morning. 

The summer of discontent looks set to worsen after UK train drivers threatened their first national strike in more than 25 years.

Aslef, the drivers’ union, will ballot on industrial action at 10 train companies to coincide with similar action by the Transport Salaried Staffs’ Association (TSSA), which represents station and ticket office workers.

That follows a walkout by the Rail, Maritime and Transport (RMT) union last month, which sparked the biggest disruption on British railways in a generation.

The Telegraph reported over the weekend that the unions will coordinate strike action over the summer in a move that could leave just one in 10 trains running and cause disruption for days on end.

It’s the latest example of unrest over the cost-of-living crisis as inflation soars. Strikes are also planned at companies including BT and Royal Mail, while motorists yesterday blocked motorways in protest over surging fuel prices.

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What happened overnight 

Hong Kong shares opened with gains this morning amid speculation that US President Joe Biden is preparing to wind back some of the tariffs imposed on Chinese goods by Donald Trump.

The Hang Seng Index rose 1pc.

The Shanghai Composite Index climbed 0.2pc, while the Shenzhen Composite Index inched up 0.2pc. Tokyo stocks also opened higher, with the benchmark Nikkei 225 index gaining 0.7pc.

Coming up today

• Corporate:  J Sainsbury, Saga (Trading updates)
• Economics: Composite PMI, services PMI (UK, EU); financial stability report (UK); factory orders (US)