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Founder of social networking site posse.com Rebekah Campbell - Talking Business 2013 - Ep08

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Fitch credit rating agency says placing Britain's top-level AAA credit rating on watch for possible downgrade

Interview with Rebekah Campbell, founder of social networking site posse.com.

Interview with RMIT economist Sinclair Davidson

Leon and Garry discuss issues including:
·         Cyprus clinching a last-ditch deal with international lenders on Monday for a 10 billion euro ($13 billion) bailout that will shut down its second largest bank and inflict heavy losses on uninsured depositors, including wealthy Russians, an Eurozone leaders saying the Cypriot rescue  marks a watershed in how the eurozone will deal with failing banks from now on, with European leaders now committed to “pushing back the risks” of paying for bank bailouts from taxpayers to private investors.
·         Fitch credit rating agency says placing Britain's top-level AAA credit rating on watch for possible downgrade
·         Mining and energy firms have already heaping a list of demands and concerns on newly installed resources minister Gary Gray who has ruled out making any changes to the mining tax.
·         MYOB has found that just 14 per cent of small firms are satisfied with the support they get from the federal government, down from 17 per cent as of July 2012.
·         Modelling consultants Macroeconomics estimating that Australia faces $10 billion annual structural deficits based on current spending, revenues and economic forecasts. The research suggests Australia faces deficits worth a total of $59 billion in the five years to 2016-17
·         Finance Minister Penny Wong declining to rule out taxing tax concessions for superannuation in the May budget.
·         The annual Per Capita Tax Survey revealing that despite Australia's position as the fifth lowest taxing regime in the OECD, almost 60 per cent of respondents surveyed stated that Australia was a "high-taxing, big government country".
·         A study by Asia-Pacific business banking research firm East and Partners finding that borrowing intentions have rebounded to the highest level since April 2008 as demand for equipment finance rises.
·         Competition regulator Rod Sims expecting banks to cut mortgage rates independently of the Reserve Bank if funding costs continue to fall, and is watching how lenders respond to the improvement on credit markets.
·         Research from business information analysts IBISWorld revealing that the AFL is the biggest money spinner among the football codes, raking in three times the revenue of the NRL, four times that of the A-League and six times that of rugby union
·         Fairfax Media hoping to complete the sale of its two major print plants, Tullamarine in Melbourne and Chullora in Sydney, by the end of May.
·         Charter Hall Retail Group Ltd offloading another United States asset as it moves to shore up its presence in the Australian market. The retail investment group has dissolved its last US joint venture with Regency Centers and sold three properties it received on exiting the venture to a US-based private investor for $49 million.
·         Westfield Group Ltd entering into a series of joint venture deals with O’Connor Capital Partners for a portfolio of six United States shopping malls.
·         The Australian Taxation Office seizing money from a company linked to coal baron Nathan Tinkler, after it failed to pay a $129,000 tax bill. 

Media File: 
iTunes Category: 
*Business*
Author: 
RMIT University
Keywords: 
Cyprus, bailout, European Union, reshuffle, Gary Gray, tax, superannuation, mortgage rates, AFL, Westfield, Charter Hall, Nathan Tinkler