INTEREST RATES – GREAT BRITAIN

BoE raises rates for the first time in a decade, but the pound tumbles

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Original article by
abc.net au – Page: Online : 3-Nov-17

The British pound has fallen against the US and Australian currencies in response to the Bank of England’s decision to increase its benchmark interest rate by 25 basis points to 0.5 per cent. It was the central bank’s first increase in official interest rates since 2007, and two members of its Monetary Policy Committee voted against a rate rise amid concerns about sluggish growth in wages and the economy.

CORPORATES
BANK OF ENGLAND, UNITED STATES. FEDERAL RESERVE BOARD, EUROPEAN CENTRAL BANK

CFMEU agrees to 35pc cut to Griffin Coal pay

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Original article by David Marin-Guzman
The Australian Financial Review – Page: 3 : 3-Nov-17

Workers at Griffin Coal’s Collie mine in Western Australia face reduced working hours and pay rates under a proposed enterprise agreement. The new pay deal, which would cut hourly pay rates by 25 per cent and annual earnings by 35 per cent, has the support of the Construction, Forestry, Mining & Energy Union. State secretary Gary Wood says both unions and Griffin have accepted compromises to secure the pay deal, amid uncertainty regarding future bank financing for the mine.

CORPORATES
THE GRIFFIN COAL MINING COMPANY PTY LTD, CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, AUSTRALIA. FAIR WORK COMMISSION, LANCO RESOURCES, AUSTRALIAN MANUFACTURING WORKERS’ UNION, ICIC BANK