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Unions have criticised Fair Work Australia's decision to increase the minimum wage by 3.4 per cent. The nation's lowest-paid workers have been given a boost of $19.40 a week. The Australian Council of Trade Unions says the increase isn't enough to keep up with the rising cost of living, but industry groups believe the rise will cripple small businesses.
There are more signs of a tightening1 economy with two major Australian companies announcing job cuts. Qantas has offered 350 voluntary redundancies to its 7,000 cabin crew, and insurance firm AAMI has announced it will close all of its branches in the next two months.
International officials say Greece will receive another installment2 of its $150 billion bailout deal. European authorities and the IMF say the next tranche of their package will be paid most likely in July. The announcement comes after hundreds of protesters in Athens besieged3 the finance ministry4 building to rally against the government's austerity measures.
And taking a look at the markets, the local share market has closed lower ahead of key US employment data. The All Ords and the ASX 200 gave up 0.4 per cent by the close. Now markets across the region are generally lower. Japan's Nikkei is down 63 points.
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1 tightening | |
上紧,固定,紧密 | |
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2 installment | |
n.(instalment)分期付款;(连载的)一期 | |
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3 besieged | |
包围,围困,围攻( besiege的过去式和过去分词 ) | |
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4 ministry | |
n.(政府的)部;牧师 | |
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