Greek political leaders have struck a deal to allow the Eurozone bailout of the debt-burdened country, causing relief on world markets.
Greek Prime Minister George Papandreou had caused concern that the European debt crisis could escalate, even impacting Australia, when he put forward the idea that the country’s citizens should vote on a referendum on the 130 billion euro aid package.
However, Papandreou has agreed to stand aside in favour of an interim government which will be tasked with passing the debt deal.
Qantas giveaway attacked by unions
Qantas has announced that it will give away 100,000 free flights, worth $20 million, to compensate for its fleet grounding last weekend, but unions have claimed the airline hasn’t gone far enough.
The airline ran a series of ads over the weekend to promote the giveaway, which involves a free domestic flight or a trip to New Zealand.
However, unions have criticised the move, saying that it would’ve been cheaper to negotiate with them in the first place over industrial action.
Adidas hit by cyber attack
Adidas has pulled down its online content after becoming the victim of a “sophisticated, criminal cyber attack.”
The sportswear giant said that there was no evidence that customer data had been compromised, but that it has taken its content offline in order to put extra security measures in place.
The Dow Jones Industrial Average fell by 61.23 points, or 0.5%, to 11,983.24 on Friday. The Australian dollar edged down to 103.96 US cents.