Wages flat, Woolies warns on "subdued consumer demand", NAB confirms Andrew Thorburn's million dollar exit

The latest quarterly wages update shows growth continues to flatline. 

The ABS says wages grew 0.5 percent in the quarter and 2.3 percent over the year. 

With household budgets tightening, Woolworths chief executive delives a $979 million half year profit while noting "subdued consumer demand" as consumers move from champagne to sparkling wine. 

Also the National Australia Bank confirmed exiting chief executive Andrew Thorburn will received a $1 million payout.

Here's my report on The World Today