THE NEWS WRAP: Germany agrees to enlarged Eurozone rescue package

By Oliver Milman
Friday, 30 September 2011

Global markets have reacted with relief after the German parliament agreed to a beefed-up rescue plan for the debt-plagued Eurozone.


German MPs voted 523-85 in favour of boosting the $610 billion aid package for Europe’s most troubled economies as fears of a worsening debt crisis impacted on business confidence in Australia.


The London and New York share markets rose on news of the new debt plan.  



Wal King set for $30m golden handshake


Wal King, one of Australia’s longest-serving and best known business leaders, could be set for a $30 million windfall.


The former chief executive of Leighton Holdings is in line to receive a huge severance package from the company, according to its annual report.


The golden handshake is among the largest in Australian corporate history and has raised eyebrows among industry observers given the Leighton’s poor financial performance this year. 



Australia’s population growth slows


Australia’s population growth is continuing to slow according to new figures, potentially impacting on businesses short of specific skills and labour.


The Australian Bureau of Statistics said the population grew by 1.4% to just over 22.5 million people, the lowest growth rate since 2006.





The Dow Jones Industrial Average rose by 143.08 points or 1.3%, to 11,153.98. The Australian dollar edged down to 97.82 US cents.

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