A comparison in the compensation of government and private sector in Canada revealed a 10.6% wage gap. Public sector workers are found to get paid more and enjoy more benefits. The report also stated that workers in the public sector have better retirement programs and are less likely to experience job loss.
Government
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Prime Minister Narenda Modi had scrapped off the Rs 500 and Rs 1,000 notes, hurting different sectors of the economy. The move resulted to decreased sales and slowed operations on sectors like automobiles, tourism, banking and e-commerce.
Greek public sector workers walked off the street in a series of protest against reforms under the international bailout.
Philippine President Rodrigo Duterte pledged to open the teleceommunications and energy sectors of the country to foreign investors. He also expressed his firm intention to combat corruption and pretectionism that hinders economic growth.
Sigmar Gabriel, the economy minister of Germany urged the government to put up more investments. He stressed out that there should be more schools to be put up, infrastructures such as road as well as in education. In his speech he asked to push more welfare handouts of the solid public finances.
The U.S. Court of Appeals on Wednesday cleared Argentina to sell $15 billion bonds in the market. The country expects to issue the bonds within this week.
Two other Fed presidents suggested the US central bank to raise interest rate. San Fransisco's John Williams said two or three rate hike in 2016 is reasonable. While Dallas' Rob Kaplan reminded to be patient.
Richmond and Kansas City Fed President supported to raise the interest rate during the meeting last March. While Philadelphia Fed President on Tuesday reitereated the hike delay is a prudent decision.
Italy faces a €4.95 billion ($5.65 billion) bailout after bad loans in its banks accumulated to an alarming rate. The bank shares have lost close to half of its value in the last 12 months.
As settlement for hiding bad loans and house desolation, Wells Fargo will pay $1.2 billion. The bank lender admitted of cheating the government by insuring thousands of risky mortgages although they are not eligible.
Nigeria is suffering from fuel shortages as well as lack of hard currency. Four major oil companies agreed to finance the country’s $200 million fuel import along with the lack of the dollars to sustain the country’s fuel needs.
Advocacy groups heavily criticized the draft as it allows company to hide their activities. Meanwhile, Iceland Prime Minister has resigned following protest over Panama leaks.
Leonardo DiCaprio can still visit Indonesia and will not be barred as an Indonesian minister appreciates his effort about the plight of the animals and how to help them and looks forward on working with him.
The Kingdom of Saudi Arabia is poised to sell bonds after it has secured syndicated loans. The government is already in talks with the banks and will host Euromoney Saudi Arabia Conference on May 3 to 4 to determine the future of KSA market.
Cameron accused journalists are getting over excited to hunt news on political rift. While five of his cabinet members are opposing him, and one had resigned.
