March 11th, 2011 07:49:12 GMT.

Germany: Public Sector Employees, Trade Unions Reach Pay Deal

by

BERLIN (MNI) – German state government employers and public sector
trade unions agreed Thursday evening on a two-year pay accord for some
585,000 employees in the sector.

Under the deal, public sector employees will get a one-off payment
of E360 and a regular raise of 1.5% from April 1. On January 1, 2012
they will get another 1.9% pay hike plus E17 per month, which amounts to
an effective average raise of some 2.55%, the Verdi trade union said.
The pay deal runs until December 31, 2012.

Verdi and other smaller public sector unions had entered the pay
talks with a demand equivalent to an average pay rise of 5%. In detail,
the unions wanted all monthly wages to be increased by E50 and then to
be raised by another 3%. They were aiming for a contract duration of 14
months. The current pay contract expired on December 31, 2010.

–Berlin bureau: +49-30-22 62 05 80; email: twidder@marketnews.com

[TOPICS: MT$$$$,M$G$$$,M$X$$$,MFGBU$,MGX$$$,MFX$$$]

2011-03-11T07:49:12+0000

March 11th, 2011 07:49:12 GMT.

Germany: Public Sector Employees, Trade Unions Reach Pay Deal

by

BERLIN (MNI) – German state government employers and public sector
trade unions agreed Thursday evening on a two-year pay accord for some
585,000 employees in the sector.

Under the deal, public sector employees will get a one-off payment
of E360 and a regular raise of 1.5% from April 1. On January 1, 2012
they will get another 1.9% pay hike plus E17 per month, which amounts to
an effective average raise of some 2.55%, the Verdi trade union said.
The pay deal runs until December 31, 2012.

Verdi and other smaller public sector unions had entered the pay
talks with a demand equivalent to an average pay rise of 5%. In detail,
the unions wanted all monthly wages to be increased by E50 and then to
be raised by another 3%. They were aiming for a contract duration of 14
months. The current pay contract expired on December 31, 2010.

–Berlin bureau: +49-30-22 62 05 80; email: twidder@marketnews.com

[TOPICS: MT$$$$,M$G$$$,M$X$$$,MFGBU$,MGX$$$,MFX$$$]

2011-03-11T07:49:12+0000

March 11th, 2011 07:49:12 GMT.

Germany: Public Sector Employees, Trade Unions Reach Pay Deal

by

BERLIN (MNI) – German state government employers and public sector
trade unions agreed Thursday evening on a two-year pay accord for some
585,000 employees in the sector.

Under the deal, public sector employees will get a one-off payment
of E360 and a regular raise of 1.5% from April 1. On January 1, 2012
they will get another 1.9% pay hike plus E17 per month, which amounts to
an effective average raise of some 2.55%, the Verdi trade union said.
The pay deal runs until December 31, 2012.

Verdi and other smaller public sector unions had entered the pay
talks with a demand equivalent to an average pay rise of 5%. In detail,
the unions wanted all monthly wages to be increased by E50 and then to
be raised by another 3%. They were aiming for a contract duration of 14
months. The current pay contract expired on December 31, 2010.

–Berlin bureau: +49-30-22 62 05 80; email: twidder@marketnews.com

[TOPICS: MT$$$$,M$G$$$,M$X$$$,MFGBU$,MGX$$$,MFX$$$]

2011-03-11T07:49:12+0000

March 11th, 2011 07:49:07 GMT.

GERMANY DATA: German EU harmonized consumer price….

by

GERMANY DATA: German EU harmonized consumer price inflation was
confirmed at 0.6% and 2.2% on the month and year, respectively, for
February, the Federal Statiscal Office reported. While the national
consumer price index was confirmed at a monthly growth rate of 0.5%, the
statistics office revised upward its yearly figure to 2.1% from 2.0%
previously reported.
— For more information, please see MNI Newswires

2011-03-11T07:49:07+0000
2011-03-11T06:04:54+0000
2011-03-11T05:58:08+0000
2011-03-11T05:50:11+0000
2011-03-11T05:48:30+0000

March 11th, 2011 05:38:40 GMT.

Stocks off their lows allowing EUR and AUD to recover

by

Some of the regional bourses more resembled casino’s today with Seoul’s Kospi getting to 3.1% down less than an hour ago before recovering sharply to be last seen down 1.3%. There may of course been official action but who is to tell. Meanwhile EUR/USD is back above 1.44 and AUD/USD above 1.05 – signs perhaps that they too may have turned the corner. One should not be overly surprised with the moves in Asia today – they are no fans of the bullish argument.

2011-03-11T05:38:40+0000
2011-03-11T05:34:05+0000
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