By Kris Sayce – Port Philips Insider (Australia) –
Whatever you may think about US president-elect, Donald Trump, he’s right when he says the system is stacked against the regular person.
Take this from Bloomberg:
‘Australia & New Zealand Banking Group Ltd. has axed its traditional $1,000 share bonus for staff this year, citing the need to cut expenses.’
Later, the article reveals:
‘The move comes after [CEO, Shayne] Elliott was earlier this month granted 27,764 deferred shares, a company filing on Nov. 28 showed. That formed part of his annual compensation and the bonus was previously disclosed in the company’s annual report…’
At the current price of $28.26, that equates to $784,610.64-worth of stock. That’s a nice little deal.
Overnight, the Dow Jones Industrial Average gained 23.7 points, or 0.12%.
The S&P 500 added 2.94 points, or 0.13%.
In Europe, the Euro Stoxx 50 index closed up 21.62 points, or 0.72%. Meanwhile, the FTSE 100 fell 0.4%, and Germany’s DAX index gained 0.36%.
In Asian markets, Japan’s Nikkei 225 index is up 14.7 points, or 0.08%. China’s CSI 300 is down 0.69%.
In Australia, the S&P/ASX 200 is down 20.8 points, or 0.38%.
On the commodities markets, West Texas Intermediate crude oil is trading for US$45.47 per barrel. Brent crude is US$46.82 per barrel.
Gold is US$1,189.72 (AU$1,591.66) per troy ounce. Silver is US$16.64 (AU$22.26) per troy ounce.
The Aussie dollar is worth 74.72 US cents.
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