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May 24 2012 17:31
The Reserve Bank will maintain current interest rates, and a considerable reduction in the local petrol price is anticipated, says governor Gill Marcus.
May 24 2012 15:29
The Reserve Bank will maintain current interest rates, says governor Gill Marcus.
May 24 2012 12:00
Britain fell deeper into recession than initially thought in the first quarter of 2012, upping chances that the central bank could inject more stimulus into the economy.
Johannesburg - Trade union Solidarity warned on Tuesday that it would oppose any steps by financial services groups Momentum and Metropolitan Holdings [JSE:MET] to appeal against the competition tribunal's prescribed two-year moratorium on retrenchments, which was set as a condition for the merger of these two companies.
Solidarity and Momentum are meeting on Tuesday to discuss the impact of the planned merger on the workforce of Momentum and Metropolitan.
"Solidarity welcomes the tribunal's ruling. It created a strong precedent that will discourage companies that are considering similar transactions from taking the easy route of retrenchment," said Solidarity spokesperson Marius Croucamp.
"Retrenchments must always be the last resort, and in this case we suspect that profits will be boosted at the expense of the employees," he said.
Solidarity represents members at both Metropolitan and Momentum.