Daily Dispatches: wages growth strengthens

Wages growth continued to strengthen in the three months to May as the jobs market tightened, a survey says. Total pay rose 4.3 per cent over the 12 months to May 2010, according to figures from the Melbourne Institute Wages Report for May, released on Tuesday. (The Age)

ANZ will expand its wealth management services in Japan with the opening of a new sub-branch in Nagoya. (The Australian)

The Australian government said it will keep investing in residential mortgage-backed securities even as the market for the bonds appears to have stabilised. (Bloomberg)

Global credit ratings agency Moody's Investors Service says the outlook for Australia's building societies is stable amid improvements in their deposit base and a solid economic outlook for the country. (The Australian)