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Singapore Exchange's bid to take over the ASX - Talking Business 2010 Ep 40c

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

Leon and Garry talk about the growing political opposition to the Singapore Exchange's bid to take over the ASX. Inflation figures seem to be contained according to the latest ABS but households are feeling the pinch as higher utilities, rent and clothing bills eat into the family budget. Most economists are saying a rate rise on Melbourne Cup Day is unlikely because of the low inflation figure but producer prices are up, signaling that the RBA might still have to raise rates. Banks meanwhile are lifting their fixed rate mortgages to the highest level in almost two years. NAB's full year profit rises 53% and ANZ's is up 53%, with fewer bad loans. But ANZ chief executive Michael Smith attacks Joe Hockey for his nine point plan to control the banks, saying Hockey has been taking lessons from Hugo Chavez. Perpetual will consider de-merging its trust business from its investment management business after knocking back a takeover offer from New York based private equity group Kohlberg Kravis Roberts. Bendigo and Adelaide Bank buy out Elders' 40 per cent stake in its Rural Bank joint venture. Telco veteran Paul Broad warns that the NBN might have to hand out compensation to infrastructure owners. The humble phone number could be changing with the Australian Communications and Media Authority to investigate an overhaul. Telstra will chop almost 1000 jobs. Melbourne and Brisbane are now reporting almost as much mortgage stress as Sydney. PM Gillard takes a swipe at the Opposition, accusing it of economic Hansonism. BHP Billiton wants a speedy resolution to its takeover for Potash. ANZ is now looking at the books of South Korea's Korea Exchange Bank as part of its expansion plans Into Asia. The Gillard Government has left open the door for more public service jobs cuts, despite commitments during the election campaign that there would be no job cuts. CommSec finds that the ACT and WA are now the best performing regions of Australia. The Audit Bureau of Circulation will review the rules governing what newspapers can claim is a paid sale. Stockland offloads its strategic stake in rival GPT because of the global financial crisis. Australian Pharmaceutical Industries, owners of Priceline, post a 23.6 per cent rise in its profit. Harvey Norman's first quarter sales growth grinds to a halt because of tough trading conditions in the retail sector.

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iTunes Category: 
*Business*
Author: 
Garry Barker and Leon Gettler
Keywords: 
RMIT, Business, Economics, Telstra, Inflation, ASX