Several European political leaders have called on the debt-stricken eurozone to embrace growth over austerity, as the UK plunged back into a double-dip recession.
German chancellor Angela Merkel said that structural changes needed to be made, while French presidential hopeful Francois Hollande said that “austerity for life” wasn’t sustainable.
The comments came as the UK, which isn’t part of the eurozone, slid into its first double-dip recession since the 1970s.
Optus facing $14.5 million claim from former staffer
Telecommunications firm Optus is facing a $14.5 million lawsuit, launched by a former executive who claims to have been the victim of “bullying, suppression and victimisation”.
Kerry Morrison, the former digital marketing chief, claims that Optus failed to protect her from a “known bully” in the workplace and terminated her employment without notice.
Apple records 94% profit surge
Apple CEO Tim Cook has declared himself “thrilled” after the tech giant recorded a thumping 94% leap in quarterly profit for the first three months of the year.
Net profit for the opening quarter of the year stood at $11.2 billion, with revenue hitting $38 billion. The result was achieved with record sales of Apple’s iPad and iPhone products.
The Dow Jones industrial average soared by 89.16 points, or 0.69%, to 13,090.72. The Australian dollar edged up to 103.63 US cents.