Forex

Britain's biggest union, Unite, is merging with the US-based United Steelworkers union (USW) to create a new "global" union.

The two unions will create a new body called Workers Uniting.

Unite was formed last year in a merger between between two of the UK's biggest union - the Transport and General Workers Union and Amicus.

The plan is for the new organisation to synchronise pay talks with multinational companies.

The new body will have an estimated three million members. The merger will be finalised when the deal is signed in Las Vegas later.

Derek Simpson, joint general secretary of Unite, said the move was an inevitable response to the globalisation of business.

"The political and economic power of multinational companies is formidable," he said.

"They are able to play one nation's workers off against another to maximise profits. With this agreement we can finally begin the process of closing that gap," he said.

Mr Simpson also urged other unions, from Poland to Australia, to join Workers Uniting.