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The business week in numbers

AAP logoAAP 16/09/2016 Garry Shilson-Josling, Economist

The big and small numbers that grabbed attention - or should have - in the business world over the past week.

MONDAY

45 minutes.

That's how long Britain's highest-paid chief executive, Sir Martin Sorrell of advertising giant WPP, took in 2015 to earn what an average worker in the UK gets in a year. A survey by the British Trade Union Council found the average salary of a UK top-100 company chief executive had risen 47 per cent in the past five years to be 123 times the pay of the average British worker.

TUESDAY

$870 million.

JB Hi-Fi announced it will pay that much to buy whitegoods retailer The Good Guys. The deal was struck after months of negotiations and after the competition watchdog gave the green light.

WEDNESDAY

30 years.

That's how long it will take for the new Australian government bond to mature. The Australian Office of Financial Management, which auctions bonds for the government, announced it plans to issue its first 30-year bond in October.

THURSDAY

1,655,956,600 (or just shy of 1.7 billion).

That's how many hours employed Australians worked in August. It's a lot, but only 0.7 per cent more than a year earlier. Along with sluggish growth in the worker numbers, and a high proportion of them getting fewer hours than they'd prefer, economists saw it as a sign of underlying weakness in the labour market despite a fall in unemployment to a three year low of 5.6 per cent.

FRIDAY

$160.

London-based firm Charles Tyrwhitt said it was selling men's shirts for that much before it slashed their price to $69. The Australian Competition and Consumer Commission disagreeed - it found the shirts had never been sold for $160 and fined the shirtmaker $10,800.

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