US - Workers at Boeing have voted overwhelmingly to reject their latest pay and pensions contract offer and take industrial action against the company.
IAM said the vote sent "a strong message" to Boeing and added: "An overwhelming majority of our members voted to reject Boeing's last and final offer. Ultimately, the goal is to get a contract and the goal of a strike is bring the company back to the table.
"Throughout this process, it is the strong support of the membership that has given union negotiators leverage at the bargaining table. That support is critical as we return to negotiations. It is one last chance for Boeing to bring us an exceptional contract offer."
In a statement issued by Boeing, the company said it had offered its employees the "best package of pay and benefits in the aerospace industry", and was therefore "disappointed" IAM had voted to strike.
Boeing continued: "The Federal Mediation & Conciliation Service has asked both parties to meet at a neutral location this week to explore whether an agreement can be reached.
"Boeing has agreed to participate in this process in an effort to seek a resolution that is in the best interest of employees, our customers and our company."
The dispute arose over IAM concerns the contract offered by Boeing was inadequate for its members' needs.
Boeing's 'best and final offer' to employees, included an 11% wage increase over three years, a pension increase to US$80 a month for each year of credited service, a lump sum equal to the greater of 6% of pay or $2,500, and enhanced healthcare coverage.
The IAM union agreed not to strike for 48 hours on Thursday and Friday while negotiators from both sides held talks to break the deadlock.
Enhanced powers for The Pensions Regulator (TPR) to prosecute and fine company directors who "wilfully or recklessly" put their defined benefit (DB) pension scheme at risk will be hard to enforce, commentators say.
Melrose has pledged to contribute up to £1bn to GKN's pension schemes as part of a final offer to acquire the engineering business.
Existing master trusts will be forced to pay £41,000 when applying for authorisation under the upcoming regime, the government has confirmed.
UPDATE 2 - DWP publishes DB white paper: Stronger powers for TPR, DB chair statements to be introduced
The Pensions Regulator (TPR) will be given the power to fine company bosses who deliberately puts their defined benefit (DB) schemes at risk, the government has confirmed.