ANZ to cut Jobs in 2012 – ANZ Banking Group has launched its first round of job cuts amid fears that up to 5,000 jobs could disappear from Australia’s big banks in two years. Analysts believe most of the industry-wide cuts will result from natural attrition rather than redundancies. But ANZ will be the exception, [...]
Tags: Anz Bank, Job Losses
Posted in Money
Big Pay Rise for MPs – The Remuneration Tribunal, which makes binding determinations on salaries for MPs and senior public servants, will announce the results of a rigorous review within weeks, with speculation that the rise for backbenchers could be $50,000. They are currently paid about $140,000. Prime Minister Julia Gillard and frontbenchers on both [...]
Cuts to the Baby Bonus – In the Mid-Year Economic and Fiscal Outlook (MYEFO) released today, the government predicted a slim $1.5 billion surplus in 2012/13, compared with its previous $3.5 billion forecast in the May Budget. It also said this financial year’s deficit would be a larger $37.1 billion shortfall than the $22.6 billion [...]
Tags: Baby Bonus, budget
Posted in Money, Politics
Wage Growth Sluggish in 2011 – A softening job market, falls in productivity and inflation were suggested as reasons for the slower growth. Wages in the September quarter rose by slightly less than the market was expecting, official data showed today. Total hourly rates of pay, excluding bonuses, rose by a seasonally adjusted 0.7 per [...]
Tags: Job Market, Wages
Posted in Money
Greek Economy Continues to Slump – Greece’s economy remained mired in a deep recession, the latest data showed Tuesday, underscoring the myriad challenges the country’s new coalition government faces as it scrambles to secure fresh aid and begins talks on a controversial plan to slash Greece’s debt mountain. According to the national statistics service, the [...]
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