GLOBAL MARKETS: Walmart by degrees
Walmart plans to attract high school students by offering them a low-cost path to a college degree
Walmart by degrees
Walmart plans to attract high school students by offering them a low-cost path to a college degree and will expand an existing education programme. With unemployment at its lowest in nearly 50 years, US retailers are struggling to hire and retain talent. Walmart made the announcement a day before its annual shareholders meeting in Bentonville, Arkansas. Democratic presidential hopeful senator Bernie Sanders was expected there to pressure the world’s biggest retailer to raise its wages and introduce a worker seat on its board.
Rates go down under
In a bid to kick-start the economy, the Reserve Bank of Australia (RBA) has cut interest rates 0.25 percentage points to a record low 1.25%. It’s the first time the RBA has used this policy lever in almost three years, the longest run of interest rate stability in Oz history. ANZ, the first of the big four banks to react, cut rates by just 0.18 percentage points. Treasurer Josh Frydenberg urged the other big banks to pass on the full cut. Two did.
Sydney Morning Herald