The Finance Sector Union has just signed a new agreement that covers workers in the National Australia Bank. This comes after widespread consultation with National Australia Bank staff and months of negotiations with the bank. The new agreement guarantees 3% increases; removes the link between sales targets and fixed pay; incorporates the outcomes of the ABA review into product payments over the life of the agreement; and introduces regular forums with NAB decision makers to resolve workplace issues, such as workloads, staffing and relief.
National Australia Bank
National Australia Bank (NAB) has decided not to fund the Adani coalmine, rail and port facilities on the Great Barrier Reef coastline. The Korean company LG has also announced it will not buy the company's coal. Korean electronics giant LG signed a letter of intent with Adani last year to purchase 4 million tonnes of coal from the Carmichael mine. However Adani has now lost one of its two big external customers when the letter of intent expired and was not renewed.