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Moneytalk - news from the Finance Sector

The latest news from the FIRST Union finance sector unofficial weblog!

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  • Kiwi banker flees corruption investigation

    Friday, March 20, 2015

     

    A former executive of the Commonwealth Bank of Australia (which owns ASB) has fled Australia after learning that an investigation into alleged kickbacks was under way.

    The New Zealander is believed to have fled to the United States after the NSW Cybercrime and Fraud Squad froze $2.05 million in suspected corrupt payments.

  • Cyclone Pam Appeal

    Friday, March 20, 2015

    Severe Tropical Cyclone Pam has been the worst natural disaster in the history of Vanuatu, and has also affected the Solomon Islands and Tuvalu.

    Up to 90% of the buildings in Port Vila are seriously damaged or destroyed, there has been unprecedented damage to crops and livelihoods and there is a huge demand for humanitarian assistance.

  • Germany minimum wage farce

    Friday, March 20, 2015

    It’s hard to believe that an economic powerhouse like Germany have only just adopted their first ever minimum wage law, at 8.50 euros per hour.

  • ANZ Bargaining Update

    Friday, March 20, 2015

    The Union has now made an application to the Employment Authority for facilitation in relation to the bargaining, on the basis that bargaining has been unduly protracted and extensive efforts have failed to resolve the difficulties that have prevented us from concluding a Collective Agreement.

    The bank has actively sought to undermine bargaining by paying the wage increase to non-members, while the issues of flexibility and inconsistent wage increases are ongoing.

  • Westpac appoints first female chair

    Friday, March 13, 2015

    Westpac NZ has appointed Jan Dawson as its new chairwoman, becoming the first major NZ bank to appoint a woman to chair its board. Last year Westpac won a White Camellia award for implementing the principle of Community Leadership and Engagement on gender equity.

  • Online eftpos on the way

    Friday, March 13, 2015

    Bank-owned company Paymark has been working on an online eftpos system, as an alternative for people who did not want to use credit or debit cards online.

  • Four years too many

    Friday, March 13, 2015

    Today marks four years of conflict in Syria, during which time four million refugees have fled Syria into neighbouring countries, according to Amnesty International.

    With little end in sight to this migration, Amnesty are now calling on other countries and the international community to play a more active role in refugee resettlement, through their #OpenToSyria campaign.

  • John Key walks into a bank…

    Friday, March 13, 2015

    John Key walks into his local Parnell bank to cash a cheque, surrounded by secret service agents. The teller asks him for some ID.

     

    Key: Actually I forgot to bring ID, but I am the Prime Minister of New Zealand, so…

    Teller: I know sir, but with all the new banking regulations nowadays since the GFC it is a legal requirement.

    Key: But I need to buy a present for Bronagh.

  • ANZ Bargaining Update

    Friday, March 6, 2015

    The Collective Agreement for ANZ workers is still not settled.  The door was left ajar following mediation last week but it failed to produce a result.  

    Members are fearful that the bank’s drive for flexibility will see them discriminated against in subsequent wage rounds.  

    The next step in relation to bargaining is facilitated bargaining, and preparations are underway for this to occur.

  • Bank profits rose 20% in 2014

    Friday, March 6, 2015

    The profits of NZ’s banking sector increased by 20.41% in 2014, according to the latest KPMG Financial Institutions Performance Survey; profits have now reached $4.83 billion.

    FIRST Union’s Retail, Finance and Commerce sector Maxine Gay said that these super-profits indicate that something is not right with our economy.

Pages

  • Kiwi banker flees corruption investigation

    Friday, March 20, 2015

     

    A former executive of the Commonwealth Bank of Australia (which owns ASB) has fled Australia after learning that an investigation into alleged kickbacks was under way.

    The New Zealander is believed to have fled to the United States after the NSW Cybercrime and Fraud Squad froze $2.05 million in suspected corrupt payments.

  • Cyclone Pam Appeal

    Friday, March 20, 2015

    Severe Tropical Cyclone Pam has been the worst natural disaster in the history of Vanuatu, and has also affected the Solomon Islands and Tuvalu.

    Up to 90% of the buildings in Port Vila are seriously damaged or destroyed, there has been unprecedented damage to crops and livelihoods and there is a huge demand for humanitarian assistance.

  • Germany minimum wage farce

    Friday, March 20, 2015

    It’s hard to believe that an economic powerhouse like Germany have only just adopted their first ever minimum wage law, at 8.50 euros per hour.

  • ANZ Bargaining Update

    Friday, March 20, 2015

    The Union has now made an application to the Employment Authority for facilitation in relation to the bargaining, on the basis that bargaining has been unduly protracted and extensive efforts have failed to resolve the difficulties that have prevented us from concluding a Collective Agreement.

    The bank has actively sought to undermine bargaining by paying the wage increase to non-members, while the issues of flexibility and inconsistent wage increases are ongoing.

  • Westpac appoints first female chair

    Friday, March 13, 2015

    Westpac NZ has appointed Jan Dawson as its new chairwoman, becoming the first major NZ bank to appoint a woman to chair its board. Last year Westpac won a White Camellia award for implementing the principle of Community Leadership and Engagement on gender equity.

  • Online eftpos on the way

    Friday, March 13, 2015

    Bank-owned company Paymark has been working on an online eftpos system, as an alternative for people who did not want to use credit or debit cards online.

  • Four years too many

    Friday, March 13, 2015

    Today marks four years of conflict in Syria, during which time four million refugees have fled Syria into neighbouring countries, according to Amnesty International.

    With little end in sight to this migration, Amnesty are now calling on other countries and the international community to play a more active role in refugee resettlement, through their #OpenToSyria campaign.

  • John Key walks into a bank…

    Friday, March 13, 2015

    John Key walks into his local Parnell bank to cash a cheque, surrounded by secret service agents. The teller asks him for some ID.

     

    Key: Actually I forgot to bring ID, but I am the Prime Minister of New Zealand, so…

    Teller: I know sir, but with all the new banking regulations nowadays since the GFC it is a legal requirement.

    Key: But I need to buy a present for Bronagh.

  • ANZ Bargaining Update

    Friday, March 6, 2015

    The Collective Agreement for ANZ workers is still not settled.  The door was left ajar following mediation last week but it failed to produce a result.  

    Members are fearful that the bank’s drive for flexibility will see them discriminated against in subsequent wage rounds.  

    The next step in relation to bargaining is facilitated bargaining, and preparations are underway for this to occur.

  • Bank profits rose 20% in 2014

    Friday, March 6, 2015

    The profits of NZ’s banking sector increased by 20.41% in 2014, according to the latest KPMG Financial Institutions Performance Survey; profits have now reached $4.83 billion.

    FIRST Union’s Retail, Finance and Commerce sector Maxine Gay said that these super-profits indicate that something is not right with our economy.

Pages

 

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