Garry Barker and Leon Gettler - Talking Business 2010 Ep 21c

A review of the week in business, with expert analysis and commentary

Garry and Leon talk about the bombshell announcement by David Jones CEO Mark McInnes that he is resigning for conduct “unbecoming”. Wesfarmers has opened an attack on the Federal Government’s resources tax, warning it will jeopardize the dividend for shareholders. The Rudd Government meanwhile is considering modifying the tax with different treatments for different resources. The ATO is ramping up its focus on landlords and Australia’s biggest companies. Meanwhile, actor Paul Hogan has lost a bid to keep his tax records confidential. After two years of losses, super funds are expected to return up to 11% this year but the European debt crisis could slow down recovery in Australia, according to the Westpac-Melbourne Institute Leading Index. BIS Shrapnel says houses prices will rise between 11 and 22% this year, a slow down but still increasing. ABS figures show Australians are diving into negatively geared property and Australia is ranked as the fourth fastest growing property market in the world, according to international estate agent Knight Frank. Westfield is reported to be looking at preparing to launch a virtual shopping centre but more than a third of collapsed retailer Clive Peeters network of 44 stores are unprofitable. Asciano wins a $775 million contract to move coal for Anglo American PLC but the share price is down 87% from its 2007 peak and the company has given its CEO $900,000 signing and retention bonus while telling shareholders they will not be getting a final dividend. Meanwhile, the ACCC has gone to the Federal Court seeking to restrain Singtel Optus from what it alleges is misleading advertising.

Media File: 
iTunes Category: 
Garry Barker and Leon Gettler
RMIT, Business, Economics,