THE NEWS WRAP: Julia Gillard criticises NAB for not matching RBA rate cut
Wednesday, November 2, 2011/
Prime Minister Julia Gillard and Treasurer Wayne Swan have both criticised NAB for its decision to not match the Reserve Bank of Australia’s interest rate cut.
While the RBA slashed rates by 25 basis points, NAB failed to follow suit among the other “big four” banks by lowering its rate by just 20 basis points.
Gillard said that banks should pass on rate cuts in full, while Swan called NAB “greedy”.
Qantas agrees to expanded compensation
Qantas has agreed with the competition watchdog to expand its range of compensation to passengers impacted by the grounding of its fleet on the weekend.
The Australian Competition and Consumer Commission (ACCC) said that the airline should compensate passengers for all losses incurred, rather than just refunds.
Australia lagging on gender equality
Australia is lagging behind other developed countries when it comes to gender equality, according to a new report.
Women are failing to gain a foothold in the worlds of business and politics, said the World Economic Forum, holding less than 20% of key leadership positions in Australia.
The Dow Jones industrial average upped 178.08 points, or 1.53%, to 11,836.04. The Australian dollar was down to 103.41 US cents.
Social media mishaps: Why businesses should think twice before cracking jokes online Catriona Pollard CP Communications founder
An ‘opportunity-hunting’ generation: Here's what millennial workers need and want Karen Gately Corporate Dojo founder
Spilling the beans: Why inviting someone to 'grab a coffee' is disingenuous and unnecessary Sue Parker DARE Group founder
Why success is simple, motivational speakers suck and Eye of The Tiger is dead to me Ian Whitworth Scene Change co-founder
How Emily McWaters manages her Sydney-based business from Kangaroo Island Emily McWaters The Hamper Emporium chief
Why 'Orwellian' performance monitoring is crucial to building an ethical company culture Michael Kodari Kodari Securities chief