Economy

Three word budget; ANZ apps down; Qantas job losses: Midday Roundup

Engel Schmidl /

Treasurer Joe Hockey may have taken 30 minutes to sum up the federal budget but it only took Twitter users three words.

The hashtag #ThreeWordBudget became the top trending slogan last night in Australia as users expressed their reaction, often outrage, at the government’s attempt to regain control over Australia’s debt.

TV host and comedian Charlie Pickering tweeted “Less for more”, while actor Rhys Muldoon wrote “Opus Dei Cuts” in reference to Prime Minister Tony Abbott’s links with the Catholic Church.

ANZ apps down

ANZ customers have been unable to access their funds via the bank’s smartphone apps due to technical issues.

On ANZ’s goMoney Android and iOS apps, which have more than a million users, some customers were notified of service interruptions after trying to submit their PIN, while others were told they had the incorrect passcode.

The bank confirmed the outage via social media, where customers vented their frustrations.

Qantas to cut pilot jobs

Qantas is seeking voluntary redundancies from about 100 pilots for the first time in its history as the struggling airline attempts to slash costs.

The redundancies are part of the 5000 job cuts Qantas flagged in February after posting a half-year loss of $235 million.

The 100 job losses will come from 550 pilots who fly Boeing 747 and 767 planes.

Shares

The S&P 500 and the Dow reached record highs ever earlier today, but Australian shares are currently lower following last night’s budget.

The S&P/ASX200 benchmark was down 12 points to 5486.2 at 11.54 AEST. The Dow Jones closed 19.97 points higher, up by 12.0% to 16,715.4.

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