Garry Barker and Leon Gettler - Business Fallout from the election - Talking Business 2010 Ep 31c

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

Leon and Garry talk about the business fallout from the election, particularly for the telecommunications industry. But whoever gets to be government will inherit a sluggish economy. Businesses in Australia now say they cut too many staff numbers and now face a skills shortage. The Fair Ombudsman raked in a record amount of court awarded penalties. BHP Billiton has reported its best ever profit, Westpac reports a $1.4 billion profit, Woolworths comes in at $2 billion and there are strong profits for Ramsay Health Care, Virgin Blue, Santos, Pacific Brands, Seek, Origin, Aristrocrat, Flight Centre, Seven and Suncorp-Metway. But Amcor and Ansell post lower profits while Asciano and Altina Emnergy report losses. Brewer SAB Miller is looking to take over Foster’s and AWB has given approval for a takeover by Agrium. Lihir Gold shareholders have voted to accept the Newcrest Mining takeover. One.Tel is back in the courts with a lawsuit against James Packer and Lachlan Murdoch. Law firm Slater and Gordon files a lawsuit against OZ Minerals. Total construction work rises in Australia, signaling economic recovery. But business investment has fallen away sharply. Paul Hogan has been banned from leaving Australia until he pays his taxes and Commonwealth Bank gets a full banking license and permission to open a branch in India.

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Garry Barker and Leon Gettler
RMIT, Business, Economics