money news

(NEW FEATURE) Friday: super fund performance, jobs and bank fees + more.

Here's the news headlines that might affect how you view and use money today.

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Here’s the some of the top news that might affect how you think and feel about your money decisions today.

  • Super funds have posted a third consecutive positive month, with the median growth fund (which has between 61-to-80 per cent allocation to growth assets) gaining 2.3 per cent in May, according to Chant West.  That takes the return for the first eleven months of the financial year to 4 per cent, raising the prospect of a small positive annual return come the end of June.
  • Unemployment rate held steady at 5.7 per cent with more part-time jobs created compared to full-time, according to the Australian Bureau of Statistics.
  • Coles night-fill worker Penny Vickers from Brisbane is taking on the supermarket giant over its “degrading” pay deal, which pays tens of thousands of workers below minimum wage rates.
  • Male chief executives are “sitting on the fence” when it comes to championing gender diversity in their companies, but those who have a daughter are more likely to take action, according to research undertaken through confidential interviews.
  • And in case you missed it, an annual report on bank fees, published Thursday by the Reserve Bank of Australia, suggests eight million Aussie households spend an average of $515 a year on bank fees, and much of the recent growth in consumer fees has been in credit card fees.



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