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Citywide Marketing communications manager, Savvas Aidonopoulous - Talking Business 2013- Ep02

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European Union leaders agreeing to a drastically reduced seven-year budget worth €959 billion ($A1.26 trillion) - the first cut in spending in the 27-country group's history.

Interview with RMIT economist Sinclair Davidson
Leon and Garry discuss issues including:
· European Union leaders agreeing to a drastically reduced seven-year budget worth €959 billion ($A1.26 trillion) - the first cut in spending in the 27-country group's history.

· The Australian stock market pushing through the key psychological 5000-point threshold, its highest point since April 15, 2010.

· National Australia Bank's (NAB) monthly business survey showing business confidence lifting slightly in January mostly, helped by a rally in the local sharemarket.

· Despite last year’s interest rates cuts, the demand for home loans falling against expectations for the second consecutive month in December, according to the Australian Bureau of Statistics.

· ME Bank's Household Financial Comfort Report showing that one in two Australian households are struggling to stash cash and have no money left at the end of each month

· The Reserve Bank of Australia (RBA) selling its 50 per cent stake in money printing firm Securency, which has been accused of offering bribes to overseas officials, for $65 million.

· Australia’s leading mining companies set for a wave of profit upgrades with bullish analysts factoring higher iron ore prices into earnings forecasts as China's economic recovery gathers pace

· The Climate Change Authority – the federal government's key climate change adviser – receiving modelling that suggests carbon tax prices could decline in 2015-16 and create a $4 billion revenue hole in the federal budget.

· The Labor government under rising pressure from the Coalition. Greens, independent MPs and even corners from within Labor to reform the underachieving mining tax which produced only $126 million in the first half of the financial year, rather than the $2 billion predicted for the full 12 months.

· The financial sustainability of spending commitments made by both Labor and the Coalition ahead of the September 14 federal election shaping-up to be a central campaign issue, with the Treasury and the Department of Finance informing Labor that the government's long-term spending items such as the national disability insurance scheme (NDIS) will be included in their independent pre-election assessment of the budget.

· Industrial relations returning as an election issue with the Gillard government legislating soon to make it harder for employers to refuse to allow new parents the right to work part time.

· Miners are preparing for an exploration boom in Tasmania's north-west after the Federal Government rejected a bid to put large parts of the area on the National Heritage list. Tasmania's resource-rich Tarkine region is also home to the largest temperate rainforest in the Southern Hemisphere.

· Profit figures for companies including Commonwealth Bank, Ansell, Boral, Leighton, CSL, OZ Minerals, JB Hi Fi, Bradken, Carsale.com, SkyCity and Newcrest Mining and Computershare

· Share market operator ASX retaining its dominance of processes behind share sales after the federal government put off a decision to consider new competitors.
· A Mercer report showing retirement savings of Australians lag behind schemes in other major developed nations and that the tax concessions here are not as generous as those overseas.

Media File: 
iTunes Category: 
Economics
Author: 
RMIT University
Keywords: 
ASX, Finance, Business, RBA, Climate Change,