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Wayne Swan's Bank Reforms - Talking Business 2010 Ep 47c

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

Leon and Garry talk about Treasurer Wayne Swan’s raft of bank reforms while the Senate economics committee has hearings into the banking business. Australia’s super system is to be manipulated. New figures show that despite the mining boom, the real economy is struggling with vehicle sales down, personal credit shrinking, dwelling commencements falling, low business confidence and more businesses expected to call in corporate undertakers. Consumer confidence edges up. Retailers say Christmas spending is sluggish but people are buying more bling like trees and decorations. Access Economics tips a retail recovery in 2011. The IMF finds that Australia’s house prices are over valued by 10%. The Aussie dollar hit parity with the US dollar briefly and it’s hurting overseas wine sales. Commonwealth Bank is hit by a computer problem. The ACCC says it will not oppose a merger between the ASX and Singapore Exchange but the deal still faces political hurdles. Billabong profits are hit by bad weather. But Athlete’s Foot says sales are up, Nine Entertainment expects a 35% surge in earnings in the lead up to a float, Nestle busy Jenny Craig and Woolworths brings its Dan Murphy label online. US discounter Costco announces expansion plans for Australia. The number of IPOs has doubled, a sign of a recovering market. Telstra loses an appeal to keep its phone directories copyrighted. Origin Energy is set to emerge as the country’s biggest electricity company after buying two retailers in NSW. Economic forecasters say Australia is expected to remain one of the fastest growing developed countries because of commodity prices. Qantas is losing its most experienced managers but it expects to target growing demand from the mining industry for charter flights. But in a blow to Qantas, he ACCC approves an alliance between Virgin Blue and Air New Zealand. Tabcorp triples its planned investment in Queensland casinos. Westfield’s spin off has a disappointing debut. Fairfax spends $16 million buying a trans-Tasman electronic tendering business. Optus is claiming damages from Vodafone.

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iTunes Category: 
*Business*
Author: 
Garry Barker and Leon Gettler
Keywords: 
RMIT, Business, Economics, news