Carbon Price and Businesses - Talking Business 2011 Ep 4c

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

Leon and Garry talk about the government’s announcement of a carbon price from 2012 and what it means for business. They look at the big profits for Caltex, Amcor, Austar, Southern Cross, AGL, Coca Cola-Amatil, Sensis, Flight Centre, Asciano, Fairfax Media and Toll Holdings. But losses for Bluescope Steel, Mirvac, Origin and Pacific Brands on top of falls in profit for OneSteel, Fantastic Holdings, Sonic Healthcare, Suncorp, Virgin Blue, IAG and Perpetual. Centro says it does not know whether it can continue as a going concern and the latest NAB survey shows business confidence falling. Wages growth has lifted to its highest level in two years thanks to the mining boom. Fortescue Metals will fight a court decision against in which could remove chief Andrew Forrest. Kerrie Stokes expands his media empire, West Ausraliannewspapers has a small lift in profits and Lachlan Murdoch takes over the Ten Network at a time when his father Rupert agrees to buy his sister Elisabeth’s production company Shine which happens to provide content for Ten. David Jones expects to post a lower profit because of the retail sector’s struggles. BHP announces it will buy natural gass assets in the US for $5 billion. BIS Shrapnel says housing approvals should pick up around the middle of the year. The apprenticeship system will go through a major overhaul after a review to the government. eBay reports 38% revenue growth in Australia. Consumer group Choice criticizes Apple for gouging Australian consumers. Petrol prices set to soar to $1.50 a litre. NBN chief Michael Quigley says the skills shortage could impede the NBN roll out. Vodafone asks its customers for another chance. The co founder and chief executive of collapsed brokerage Sonray, Scott Kenneth Murray, is arrested and charged. Menswear chain Ed Harry is placed in voluntary administration.

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Garry Barker and Leon Gettler
Business, Economics, RMIT