Garry Barker and Leon Gettler - Talking Business 2010 Ep 33c

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

Garry and Leon talk about the Gillard government just scraping back into office. Regardless of the result, it will not affect Australia’s AAA credit rating, according to Standard&Poor’s. The mining tax is back on the table for negotiation and the National Broadband Network is back in business, although there is a chance city people will pay more. The RBA leaves interest rates on hold at 4.5%, the resources boom and defiant economy is driving strong corporate profits, unemployment has fallen to 4.5%, inflation is starting to rise, signaling the RBA may lift interest rates at the end of the year. NAB’s bid for AXA Asia Pacific has been blocked by the regulator. Australia’s building industry continues to shrink, more homebuyers are feeling mortgage stress and more of them are locking in fixed rate loans. Access Economics warns that a lower population will hurt retailers but BIS Shrapnel says Australia is in for a boom over the next decade. ABS stats show miners were spending a lot digging holes in the ground during the debate about the mining tax. Australian insurers Suncorp and IAG have heavy exposures to the New Zealand earthquake and flooding damage in Victoria is expected to total $10 million. Macquarie Group flags a 25% drop in its profits but confidence among Australian executives is now strong, according to Dun and Bradstreet. ANZ job advertisements series shows a 2.6% increase in job ads. New Corp’s digital arm buys to cash in on online retail. Research from the US shows money can buy happiness, up to a point. Jetset Travelworld will merge with Stella Travel Services to compete with Flight Centre. Another managed investment scheme, Willmott, goes under. Woolworths, hit by competition from Coles is redesigning its fresh food section to make it more like a market. Australians are taking a record amount of sick leave. Foster’s is expected to be sold by the end of the year after it rejected a $2.7 billion bid for its wine business. Toyota recalls more than 116,000 HiLux vehicles and Total buys into Australia’s LNG sector through a deal with Santos.

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