Talking Business

Interview with Jeetu Patel, General Manager, Syncplicity Business Unit at EMC Interview with RMIT economist Jonathan Boymal Leon and Garry discuss issues including: · The Bank for International Settlements (BIS) saying banks have done their bit to help economic recovery and governments must do more. · China's financial system convulsing in the throes of a cash squeeze, with interbank lending rates spiking and bank-to-bank borrowing stalling, as the government tries to restructure the economy and punish speculators. · Consumer confidence in the United States surging to a five-year high in June · The Swiss-based Bank for International Settlements ranking Australia's big four banks as the most profitable in the developed world · A Lowy Institute survey finding that Australians continue to have warm feelings toward Great Britain, Germany and the United States, but rate their feelings toward China and Indonesia as not so hot · The owner of Sydney's The Star casino unveiling plans for a "world first" resort linking harbour precincts, while leaving the door open for a restricted second casino from rival James Packer · APN News and Media Ltd mulling a significant restructure, with a view to selling its outdoor advertising assets as a trade off for full control over its radio division. · Rio Tinto Ltd opting to retain its diamond business following the conclusion of a strategic review which considered a range of options, including potential divestment · Metcash more than doubling its profit to $206 million · Australian insurance and wealth management company AMP warning investors that its half-year profit is likely to drop by 13 per cent. · Wotif warning that it will post a lower profit this financial year due to its underperforming Asian business continuing to drag on earnings. · Goodman Fielder Ltd flagging a significant lift in its second-half pre-tax earnings from continuing operations on the back of a turnaround in its bakery business and its dairy and grocery divisions · KFC and Sizzler franchisee, Collins Foods Ltd posting a 43 per cent rise in net profit to $16.368 million for the financial year to April 28 · Tabcorp Group Ltd and Tatts Group Ltd winning a court challenge against the Victorian government over a levy on gaming machines they no longer operate · Leighton Holdings winning a $1.3 billion deal for work at Fortescue Metals Group Ltd's Kings iron ore project at Solomon Hub and a $1.15 billion contract to build Sydney's north west rail link in a joint venture with global conglomerate ACS Group's Dragados. · Chant West research finding that superannuation funds are on course to deliver their second-best result for a single financial year in the past 16 years · The former chairman of the Australian Securities Exchange Dr Maurice Newman conducting an independent review of Newcrest Mining’s disclosure and investor relations practices. · Australian Motor Industry Federation chair Richard Dudley warning that a “perfect storm" is about to hit the car industry. He says the next federal government must act within 100 days to save it. GM Holden chief Mike Devereux tell Canberra Holden needs help if it’s to stay in Australia.

Interview with Lee Hawksley from email marketing and cross channel marketing firm ExactTarget Interview with RMIT economist Sinclair Davidson Leon and Garry discuss issues including: · President Obama indicating that Federal Reserve chairman Ben Bernanke will be leaving his post in September. Fed indicates stimulus will continue · Construction of new United States homes rebounding modestly in May from a plunge the prior month · British 12-month inflation accelerating to 2.7 per cent in May, rebounding from a seven-month low point struck in April · Spain’s Budget Minister Cristobal Montoro saying Spain is emerging from its financial crisis and may be heading for a "turning point" thanks to strengthened public finances · The price of New York's main oil benchmark hitting a nine-month peak, as traders worried the Syria crisis could hit supplies from the crude-rich Middle East · The Reserve Bank of Australia saying the falling Australian dollar may have a stabilising effect on the domestic economy and foster improved growth. · Bank of America Merrill Lynch slashing its forecast for the nation's 2014 GDP growth, hot on the heels of Goldman Sachs. The bank has cut its forecast to 2.4 per cent GDP growth for Australia next year, down from 2.9 per cent and Bank of America Merrill Lynch analyst Saul Eslake says the Australian economy has a 25 per cent chance of going into recession and warns the nation may have to follow the lead of other countries by effectively printing money. · A new report commissioned by the Australian Local Government Association finds that increasing frequency of natural disasters is rendering some communities uninsurable · The largest retailers putting aside competitive differences to lobby both sides of politics in a last-ditch bid to impose the GST on online imports, thwart calls to strengthen competition laws, and boost labour productivity · Supermarket giants Woolworths and Coles setting up a dispute resolution body with the Australian Food and Grocery Council in a move that will allow them to avoid attracting regulatory and political attention · The Joint Committee on the National Broadband Network recommending NBN Co prepare itself for a change of government following the September 14 election. · Billionaire mining magnate and would-be Prime Minister Palmer telling his closest advisers and a major Chinese company that he will have to axe about 1000 Australian jobs from his businesses unless he receives a massive cash injection. · The Grattan Institute warning that households will pay half a billion dollars more for domestic gas by the decade's end, with wholesale prices forecast to spike 80 per cent in eastern states · ANZ and Macquarie getting implicated in an interest-rate rigging scandal in Singapore, forcing each of them to set aside an extra $S100 million ($83 million) to $S300 million in reserves · Lend Lease poised to overhaul its Australian construction and infrastructure businesses. · A PricewaterhouseCoopers study finding that labour productivity growth slowed in the year to March, with the mining sector suffering a fall of almost six per cent

Interview with Nicole Kersh from Australian IT retailer 4Cabling Interview with economist Saul Eslake Leon and Garry discuss issues including: · Unemployment in Europe hitting a record high in April of 19.38 million while the International Monetary Fund lowers its forecast for German growth this year · Growth in China's non-manufacturing economy slowing in May · The US trade deficit growing in April and US manufacturing activity contracting · Australia's manufacturing sector extending declines for the 23rd consecutive month in May · The Australian economy expanding less than expected in the March quarter · A PricewaterhouseCoopers report warning that the global mining outlook is deeply troubled as profits decline and cost pressures increase. · The Reserve Bank of Australia leaving the official cash rate on hold at an all-time low, in line with analyst expectations but a senior Westpac Banking Corp executive foreshadows two further 0.25 percentage point interest rate cuts · Moody’s considering downgrading its credit ratings on subordinated debt issued by the Australian banks, · Australia's trade deficit narrowing in the March quarter more sharply than analysts expected, falling by $6.249 billion · The TD Securities Melbourne Institute Monthly Inflation Gauge increasing by 0.2 per cent in May, putting annual inflation at 2.2 per cent. · The value of houses across Australia’s capital cities falling 1.2 per cent in May on the back of lower consumer confidence, according to RP Data-Rismark. · Company gross profits rising in the March quarter more sharply than analyst expectations, according to the Australian Bureau of Statistics. · Australian retail spending growing 0.2 per cent to a seasonally adjusted $21.888 billion in the month. · ANZ’s job advertisements series showing the number of ads fell 2.4 per cent in May, seasonally adjusted - the third straight month of decline. · Dun and Bradstreet's National Business Expectations Survey finding more businesses plan to raise their prices compared to the previous quarter. · Australia’s low-paid workers to receive a $15.80-a-week pay rise from July 1 · National Australia Bank offering its 43,000 staff paid domestic violence leave in a move that campaigners hope will encourage other large private employers to follow suit. · Echo Entertainment chief John Redmond promising to invest more than $1 billion to protect his casino monopoly in Sydney and crush James Packer’s bid to build a six-star hotel and invitation-only casino in Barangaroo. · Coles planning to carve out savings worth hundreds of millions of dollars and dramatically cut Australia's 20,000 strong army of independent grocery agents if it proceeds with a radical plan to shake up the way fees are charged to the food manufacturing sector · International cricket coverage staying on the Nine Network despite an audacious pitch from rival Ten to secure the TV broadcast rights. Cricket Australia has signed a deal with Nine Entertainment Co after the network matched Ten’s offer for the international cricket media rights. · The Nationals pushing the Foreign Investment Review Board to scrutinise US grains giant Archer Daniels Midland's $3.4 billion takeover bid for GrainCorp · Sales at Cochlear slowing · Virgin Australia targeting Italy · Superannuation giants VicSuper and Vision Super terminate merger talks

Interview with Bernard Salt, demographer at KPMG Interview with economist Nicholas Gruen talking about Ford and Australia’s car industry Leon and Garry talk about issues including: · The S&P/Case-Shiller 20-city price index showing United States home prices posting the largest annual gain since 2006 in fresh evidence that the housing recovery is gaining traction. Consumer confidence in the United States rising in May to a five-year high, with expectations of an improved economy and Moody's upgrading its outlook of the US banking system for the first time since 2008, citing improving US economic conditions that more than make up for the challenges of low interest rates. · The International Monetary Fund cutting its forecast for China's economic grow to 7.75 per cent for 2012 and 2013 · The Australian dollar seeing another sell-off his week, plunging to its lowest in 19 months after strong US economic data was released overnight, and bad figures for China. · OECD warning of the end of the mining boom as Australian Bureau of Statistics figures show Australia is entering stage 3 of the resources boom · A bill forcing Australia’s 2000 biggest companies to publicly disclose how much tax they pay is to be introduced into federal parliament. · More Australians struggling with home loans. Moody’s Investors Service figures show that the number of Australian home loan borrowers at least 30 days behind on repayments rose to 1.66 per cent at the end of March, up from 1.44 per cent in December · Warnings that the economy could miss out on as much $180 billion of investment in new liquefied natural gas (LNG) projects because of soaring costs in Australia with the world’s biggest energy companies warning Australia has less than two years to reduce costs of building big projects or risk being frozen out of a new $150 billion wave of global investment in liquefied natural gas ­supply · Research by UHY Haines Norton, an association of independent chartered accountants, revealing that Australia has the eighth highest corporate tax rate in the world. · Federal political parties will begin ­lining their pockets with millions of dollars in extra public funding, taxpayers money, well before the September 14 federal election due to a clause which backdates the new ­pay-outs to April 1 under legislation secretly negotiated between Labor, the Liberal Party and the Nationals over more than a year. · Casino giant Crown and the ANZ bank becoming the latest corporate giants to cut Victorian jobs, as economists tip Australia’s unemployment rate to rise to 6 per cent by year's end. · News Corp writing down the value of its Australian and US publishing assets by up to $US1.4 billion, as the company prepares to split its business between newspaper and entertainment operations. · Live betting odds will be banned during sports broadcasting in Australia under changes proposed by Prime Minister Julia Gillard but no ban on gambling. · David Jones Ltd has posting a modest decline in sales in the third quarter · Nine Entertainment looking to buy WIN Corporation

Interview with Dan Flynn, founder of Thank You Water Interview with RMIT economist Sinclair Davidson on Tony Abbott’s Budget  In Reply Speech   Leon and Garry discuss issues including: ·         US Federal Reserve chairman Ben Bernanke telling Congress that it is too soon to end the central bank's monetary stimulus programme or raise interest rates. ·         The Bank of Japan holding off introducing new easing measures     ·         Indian and Chinese premiers papering over differences at a meeting in New Delhi, pledging to tackle a border dispute and pledging to work together for global stability and build trade connections ·         The Reserve Bank of Australia flagging further rate cuts, saying it had used "some of the scope to ease policy" when it slashed the cash rate to a record low of 2.75 per cent this month ·         Australia’s commodities forecaster signalling the nation faces a sharp decline in major investments back to 2007 levels ·         Treasury secretary Martin Parkinson conceding his department has struggled to keep pace with a ‘‘tumultuous’’ decade for the Australian economy but backing his department's budget forecasts ·         An Australian Chamber of Commerce and Industry survey finding that small businesses are still facing fragile conditions and there is nothing in the federal budget to lift confidence ·         The opposition reportedly planning a double-dissolution election within five months of taking office if it is blocked from repealing the carbon tax. ·         The Commonwealth Bank's Business Sales Indicator (BSI) finding that prospects for Australian businesses are looking healthier with spending rising 0.5 per cent in trend terms in April. ·         A Brand Finance study finding that the high Australian dollar and the consumer's attraction to online shopping have seen big-name retailers David Jones, Myer and Harvey Norman lose millions in brand value ·         Virgin Group looking to push into the $65 billion Australian healthcare sector, as well as expand its fitness centre network locally and in Asia to ramp up its global health and wellness presence. ·         The Australian Workers Union (AWU) and the Construction Forestry Mining and Energy Union (CFMEU) signing an agreement to attempt to start re-unionising Rio Tinto’s iron ore operations. ·         Metcash acquiring the assets and operations of Australian Truck and Auto Parts Group for $84 million, as part of its expansion into the hardware and automotive sectors ·         NSW based fertility services business, Virtus eyeing an expansion into Asia and mulling local acquisitions as it prepares for its initial public offering next June ·         Suncorp Group looking to sell most of its "non-core bank" four years after it was established, to free up capital and possibly deliver investors another special dividend ·         Cattle producer Australian Agricultural Company Ld (AACo) has sold three grazing properties in Central Queensland to Comet Downs Cattle Company for $23 million. ·         Leighton Holdings Ltd appointing five new directors before July, following a string of executive resignations and flagging an expansion into Asia. ·         Profit and earnings downgrade announcements from Elders, Ruralco, Tiger Airways, Boart Longyear and Transfield ·         Chant West saying super savers are well on the way to having the best year's returns in six years Key words: Bernanke, Japan, India, China, Reserve Bank of Australia, interest rate cuts, Treasury Secretary Martin Parkinson, Federal budget, small business, double dissolution, carbon tax, spending

Interview with Asanga Wanigatunga, End User Computing Expert from VMware Australia on the impact of the bring-your-own-device movement Interview with economist Stephen Koukoulas on the Federal Budget Leon and Garry discuss issues including: · Chinese retail sales and industrial production growing in April on the previous month, in a promising sign of activity in the world's second-biggest economy after a slow start to the year. · Americans increasing their spending in April at retail businesses, buying more cars and clothes after cutting purchases sharply in March. · Delivering what might well be his last budget and the last big roll of the dice for Labor before the September 14 federal election, Treasurer Wayne Swan has unveiled an $18 billion deficit for 2013-14, coming on top of a $19.4 billion deficit for this financial year, with no return to a substantial surplus until 2016-17 in place of what was forecast to be a budget surplus of $1.1 billion. Families in the middle income bracket stand to lose some family entitlements as well as promised carbon tax compensation, while incurring new costs for higher education when scholarship grants are converted to loans. The Gillard government looking to shore up the corporate tax base and ill the Budget hole with Treasurer Wayne Swan unveiling a $4 billion package of tax reforms aimed at stamping out loopholes in corporate tax · National Australia Bank monthly business survey showing that business confidence has taken a hit in April as sentiment in the mining sector deteriorated to its weakest level in more than four years · Australian Bureau of Statistics data showing that the demand for home loans beat expectations in March, marking the second straight monthly increase and that business finance lifted in March, while personal finance commitments posted a modest rise · RateCity data showing that the big banks have not been passing on interest rate cuts to their credit card customers, despite the Reserve Bank cutting rates to their lowest level in more than 30 years. But chief executive of National Australia Bank Ltd Cameron Clyne flags a willingness to cut mortgage rates out of cycle with the Reserve Bank of Australia. · Morgan Stanley warning that an abrupt fall in mining capital expenditure could trigger a recession, with the next 18 to 24 months the greatest risk period . · The newly merged Glencore-Xstrata group abandoning plans for a coal terminal in central Queensland but raises its copper production by 18 per cent in the first three months of 2013 from output in the same period a year ago · Profit and sales figures from Stockland, Incitec Pivot, Westfield and Dulux · Australia’s biggest defence contractor,BAE Systems planning to slash 100 positions across its Australian operations this year in the face of increased local competition and reduced government defence spending. Coffey International Ltd slashes 150 jobs and downgrades its full-year earnings guidance. · Rio Tinto Ltd forced to pay hundreds of millions of dollars in retroactive royalty payments after losing a court battle to Gina Rinehart and Angela Bennett.

Interview with Danny Gorog, head of app development company Outwear Interview with economist Nicholas Gruen Leon and Garry discuss issues including: · The Eurozone's private sector shrinking for the 15th consecutive month in April – suggesting the single currency area will fall deeper into recession but Portugal receives a boost from investors with its bond sale · The shortfall in forecast budget revenue will be between $60 billion and $80 billion from now to 2016, forcing the Gillard government to dump spending pledges, including $1.8 billion in family assistance. The Labor government expects next week to report a $17 billion revenue write-down in the current financial year. · The Treasury Department halving revenue forecasts for the sale of carbon permits, forcing Labor to dump or defer $1.4 billion worth of carbon scheme-related tax cuts · The independent Parliamentary Budget Office (PBO) calculating that the mining tax will add just $800 million to government coffers in the current financial year. · The Reserve Bank of Australia cutting the official cash rate to a new low at its May board meeting, against analyst expectations. The board reduced the official cash rate by 25 basis points to 2.75 per cent, after holding it for three consecutive months. It’s the lowest it’s been in 50 years. · Opposition Leader Tony Abbott facing an internal revolt over his paid parental leave scheme, with one Liberal MP describing it is an "albatross around the neck" of the party. · The TD Securities Melbourne Institute Monthly Inflation Gauge increasing by 0.3 per cent in April, after a 0.2 per cent rise in March and a flat result in February. · The ANZ Banking Group Ltd Job Ads survey showing the total number of advertisements fell 1.3 per cent in April, after an upwardly revised fall of 0.5 per cent in March. The number of job ads on the internet fell 1.1 per cent in March, in seasonally-adjusted terms, while those placed in newspapers fell by 6.5 per cent. · Australian retail sales sliding in March against analyst expectations of a modest rise, according to data from the Australian Bureau of Statistics. The data showed retail spending dropped 0.4 per cent to a seasonally adjusted $21.872.3 billion in the month. · Australia's construction sector shrinking for the 35th consecutive month in April, with home and apartment building continuing to decline, according to the Performance of Construction Index (PCI) by the Australian Industry Group and Housing Industry Association · Australia's trade balance swung into surplus in March, a turnaround of $418 million on the deficit posted the previous month, according to data from the Australian Bureau of Statistics · Dun and Bradstreet’s National Business Expectations Survey showing that Australian businesses will keep cutting their spending this year, with expectations for capital investment, employment and new credit set to fall further. · Profit reports from Leighton and Orica, profit outlooks from Boral, Seven West and Coca-Cola Amatil · Australia’s banks conforming to a key new regulation on liquidity by 2015, earlier than required under the new Basel III global banking rules.

Interview with La Porchetta CEO Sara Pantaleo, a former Franchise Woman of the Year (2010) and a Telstra Business Woman of the Year Finalist (2012). Interview with PricewaterhouseCoopers economist Jeremy Thorpe. Leon and Garry discuss issue including: · The tide turning against Eurozone austerity as Eurozone divisions over austerity policies championed by Germany deepen with Italy's new government joining France in demanding a change of direction for the crisis-hit bloc. Meanwhile, The Cypriot parliament narrowly approves a controversial 10 billion euros ($A12.76 billion) bailout deal agreed with international lenders to stave off bankruptcy · The US Commerce Department reporting that US consumer spending grew 0.2 per cent in March · Prime Minister Julia Gillard confirming the budget will take a $12 billion hit on a fall in tax revenues to levels that mark a "return to normality" as the mining boom ends. · A Medicare-style levy to fund the National Disability Insurance Scheme · The consultancy Macroeconomics warning that a one-off cut of $15 billion in federal government payments is needed to begin repairing the deficit · The International Monetary Fund (IMF) expecting the Australian economy to return to trend growth in 2014, despite the damage being caused by a high Australian dollar. · Insolvency specialists are forecasting more agricultural operations will be placed into receivership as a Rabobank survey shows that rural sector optimism is continuing to slide with more than a third of the nation's farmers expecting the agricultural economy to worsen in the coming 12 months. · Reserve Bank data showing that private sector credit growth rose by 0.2 per cent in March, following an identical lift in February and January. · For the six months to March 31, ANZ posts a record cash profit of $3.182 billion, a 10 per cent rise on the $2.896 billion posted in the previous corresponding period. ANZ Banking Group chief executive Mike Smith says the bank will consider a dual listing on an Asian stock exchange in order to support its dividend payout · Telstra shares finishing within a breadth of breaking the $5 barrier, the highest level in almost eight years. It is one of the best-performing blue-chip stocks on the ASX so far this year as investors seek a safe haven given recent volatility in equity markets and especially after the dramatic collapse of the gold price. · The Australian Competition and Consumer Commission says profits are up but service at Australian airports has fallen across the board and Sydney Airport is the busiest and worst performing · The Australian Competition and Consumer Commission planning to probe the pending $3.4 billion GrainCorp Ltd takeover, after the grain handler welcomed a sweetened bid by America's Archer Daniels Midland. · BIS Shrapnel warning that the 12-year boom in engineering construction activity in Australia is about to end · Deutsche Bank finding that Australians pay among the highest prices on the planet.

Interview with Tom Griffith from Emma and Tom’s juice company. Griffith, who started his career as a chartered accountant, talks about how he started the company. Interview with RMIT economist Sinclair Davidson. Leon and Garry discuss issues including: · Eurostat data showing that the austerity pain being pursued by a number of European countries led to very little gain in 2012. At the same time, The head of the European Commission Jose Manuel Barroso has suggested the political and social tide may have turned against austerity while Spain’s economy is set to shrink by between 1.0 per cent and 1.5 per cent this year · Fitch stripping recession-threatened Britain of its top triple-A rating, moving it down one notch to AA+ · Manufacturing activity in China expanding in April at the slowest pace in two months · The Grattan Institute warning that Australian governments are facing a budget black hole of deficits so large that politically painful cuts to growth in public health and education spending are all but unavoidable if the nation is to avoid a European-style debt quagmire · Standard and Poor’s warning that Australia’s AAA rating could be vulnerable in five years if it doubts the government’s commitment to restoring the surplus · Federal Treasurer Wayne Swan has warned that the budget will not return to surplus until tax collections recover from a strong dollar “sledgehammer” that he said pushed revenues $7.5 billion below official forecasts for this financial year but Julia Gillard vowing there wouldn’t be severe cuts in the May Budget · Deloitte Access Economics saying interest rates should remain low for a couple of years given there is no immediate danger to the inflation outlook · Commsec data revealing that the gap between the country's best performing state or territory economy, Western Australia, and the worst, Tasmania, appears to be widening · Shadow Assistant Treasurer Mathias Cormann hinting that promised company tax cuts may not be as big as the 1.5 per cent previously pledged, saying a final decision would be made after the election. · Power companies warning the Coalition that its “direct action” plan for reducing carbon emissions could be more difficult to cope with than Labor's plan. · Australia’s population hitting 23 million · New figures showing housing prices are on the rise. Australian Property Monitors said on Wednesday in its quarterly housing report that the median price of a house rose by 3.2 per cent over the year to March. · AICD survey showing Australia's company directors are more optimistic about business growth prospects in the year ahead. This is despite ongoing anger at what they see as crippling increases in government regulations · Prime Minister Julia Gillard having ten weeks to convince all state and territory leaders to sign up to her Gonski schools funding deal and New South Wales becoming the first State to sign on to the package · A DBM Consultants survey showing Commonwealth Bank of Australia and Westpac rank highest for customer satisfaction among the big four banks, while ANZ and NAB are languishing.

Interview with Colin McCabe of Red Hat Interview with RMIT economist Jonathan Boymal Leon and Garry talk about issue including: · Cyprus appealing to the EU for help in weathering a devastating economic crisis, as eurozone ministers approved a €23 billion ($A28.81 billion)- rescue plan for the nearly bankrupt island, while Euro MEPs press for a special inquiry into the botched bailout of Cyprus last month, Eurozone finance ministers agree to give Ireland and Portugal more time to repay their bailout loans with Greece and international creditors reaching agreement on its economic recovery efforts, opening the way for the disbursement of €8.8 billion ($A11.07 billion) in bailout loans. · China slowing down, sending tremors through financial markets around the world · Gold prices suffering their sharpest fall since the 1980s, heightening fears among investors that the precious metal’s decade-long bull run has ended. · The World Bank forecasting that East Asian and Pacific economies will grow 7.8 per cent this year while the International Monetary Fund says Australia will at three per cent this year before this rises to 3.3 per cent next year, after an expansion of 3.6 per cent in 2012 · The Reserve Bank of Australia saying the inflation outlook provides scope for further easing despite the high exchange rate · The Australian Bureau of Statistics revealing that the demand for home loans beat expectations in February, marking the first increase in five months, demand for motor cars has fallen but more are taking out personal loans · With Western Australia and Queensland posing the biggest obstacle to a comprehensive deal between Julia Gillard and the states on school funding, causing the Prime Minister to delay the deadline for her $14.5 billion Gonski package to 2019-19 · Woodside Petroleum’s decision to scrap its plans for a $45 billion LNG project at James Price Point reigniting a debate about the cost of doing business in Australia. · Crocodile Dundee star Paul Hogan taking legal action against his once-trusted tax adviser of absconding with $US34 million ($32.3 million) he helped Hogan hide in offshore tax havens. · Woolworths looking to expand outside the Australian market for the first time as it searches for new growth opportunities after posting a 5.6 per cent spike in quarterly food and liquor sales · Victorian building unions set to request formal proposals from super­annuation schemes vying to replace Cbus as the default fund for construction workers. · Shareholder services provider Computershare Ltd paying $US10 million ($A9.57 million) to buy a 25 per cent stake in United States company INVeSHARE. · The Australian government facing calls to broaden the scope of its carbon tax, as new figures show Australia's greenhouse gas emissions fell only slightly last year. · A new chapter starting for Australian clothing and bootmaker RM Williams after the 81-year-old company confirmed yesterday that it had sold a 49.9 per cent share to L Capital Asia, a private equity fund sponsored by French luxury giant LVMH Group, in a deal believed to be worth about $53 million. · Rio Tinto Ltd posts record rise in iron ore output.

The centrepiece of RMIT University’s $700 million capital investment program, the Swanston Academic Building, is today being officially launched by RMIT alumnus Jacques Nasser AO, Chairman of BHP Billiton. The Swanston Academic Building (SAB), a 35,000 square metre, 11-storey educational facility, contains innovative lecture theatres, classrooms and specialist spaces that support the most advanced teaching and learning methodologies. RMIT's Swanston Academic Building. Photo: John Gollings. Vice-Chancellor and President, Professor Margaret Gardner AO, said the SAB was the largest construction project that RMIT had undertaken. "This building incorporates world class teaching facilities and vibrant spaces for students and staff in the heart of RMIT’s city campus." Mr Nasser is one of the University’s most prominent alumni, as well as being a generous scholarship donor. He began his illustrious career studying business at RMIT. He received an honorary degree from RMIT in 1997. "His scholarship program at RMIT rewards excellence and has been instrumental in fostering a culture of entrepreneurship in our College of Business students," Professor Gardner said. The $200-million SAB has more than 80 teaching spaces, including lecture theatres, a cinema classroom, project and interactive spaces using state-of-the-art technologies and incorporating the largest virtual desktop initiative in Australia. Designed by Lyons Architects - led by RMIT architecture alumnus Carey Lyon - and constructed by Brookfield Multiplex, the SAB has a Green Building Council of Australia (GBCA) 5-star Green Star Education Rating, signifying Australian Excellence in environmentally sustainable design. To achieve this, the building has a number of water-efficient and energy-efficient features including displacement ventilation in lecture theatres, mixed-mode ventilation in portals and chilled beams in offices, solar pre-heated domestic hot water, rainwater harvesting and grey water re-use and a high-performance façade with double glazing. The SAB has been named a finalist in the upcoming 2013 Australian Construction Achievement Awards (ACAA).

Interview with Xero Australia's Managing Director Chris Ridd Interview with economist Alberto Posso Leon and Garry discuss issues including: · The US labour market being much weaker than expected in March, with the economy adding only 88,000 jobs, a third of the number in February and Federal Reserve chairman Ben Bernanke saying the United States economy still has a long way to go to recover to an acceptable state of health · China posting a shock trade deficit in March, against expectations of a trade surplus · A trove of data obtained by a US-based journalists' group detailing thousands of offshore accounts reveals several instances of swindles and other financial crimes · Prime Minister Julia Gillard securing an annual strategic partnership with China which will see Australia and China holding direct annual meetings together, cooperating formally on climate change, international aid and currency trading. As part of the new arrangements, ANZ and Westpac become the first Australian banks to help businesses directly trade Australian dollars for the Chinese yuan. At the same time, a Federal Government briefing paper warns that the bilateral relationship with China is threatened by the jailing of Australian business people · ANZ Jobs Ads survey showing job advertisements falling in March, slipping from their highest level since October 2012 · Housing Industry Association data showing construction activity slowing down, falling by 6.6 points to an index level of 39 in March. It is the industry's 34th consecutive monthly decline in activity · NAB Monthly Business Survey showing business conditions sinking to their lowest level in almost four years in March on the back of a steep fall in the manufacturing and retail sectors · Fortescue Metals Group on track to announce the sale of a stake in its rail and port business by the middle of the year · Opposition Leader Tony Abbott unveiling plans to build a scaled-down ­version of the national broadband ­network for $20.4 billion amid a fresh ­political stoush over the cost of the ­biggest public infrastructure project in Australia’s history · Research showing that supermarket private label brands have grown in "low double-digit" figures. · Billabong International Ltd announcing it has reached an agreement with a consortium led by fomer head of its Americas division Paul Naude, The deal with Mr Naude and Sycamore Partners is for 60 cents per share, which values the embattled retailer at $287 million · Small businesses hit with higher Australia Post charges, the second move in just over a year, as the organisation struggles under the weight of parcels bought from online stores. · Holden axing 500 jobs across its South Australian and Melbourne operations, blaming declining demand for its small Cruze cars and the "unprecedented" strength of the Australian dollar. · Sundance Resources Ltd terminating a long-gestating $1.3 billion takeover proposal from China's Hanlong Mining. · Wesfarmers parachuting Coles executive Stuart Machin in to run discount retailer Target following the resignation of Dene Rogers. · Ruralco Ltd, Australia's largest rural services group, warning that its profit could fall by up to 70 per cent due to lower livestock prices.

Interview with Interview with economist Stephen Koukoulas Leon and Garry talk about issues including: · Eurozone unemployment running at a record 12 per cent in February, with more than 19 million people on the dole · Signs of a pickup in the US economy with US economic growth in the fourth quarter faster than originally thought at 0.4 per cent and manufacturing growing. As a result, Wall Street has hit a record high · Manufacturing activity in China growing at its fastest pace in almost a year · A currency deal enabling the Australian dollar to be converted directly into Chinese yuan, slashing costs for thousands of businesses, is set to be the centrepiece of Julia Gillard's mission to China next weekend. · The Reserve Bank of Australia holding the official cash rate unchanged at three per cent at its April board meeting, as had been widely expected. · Simon Crean pledging to oppose any move by the federal government to tax earnings on superannuation accounts. · The Australian Industry Group performance of manufacturing index (PMI) falling 1.2 index points in March to 44.4 points, extending the decline in Australia's manufacturing into a 21st consecutive month as falling selling prices and a strong currency hit hard. · Dun & Bradstreet's (D&B) National Business Expectations Survey revealing that investment expectations among Australian businesses are fading. · The RP Data-Rismark Home Value Index showing that capital city home prices shows the Australian property market is starting to pick up, with prices recording their largest quarterly rise since May 2010 · Three of the big four banks reporting a decline in corporate credit demand in February, illustrating the extent to which companies are putting borrowing decisions on the back burner until after the federal election in September. · Mergers and acquisitions in Australia slumping to an eight-year-low in the first quarter, led by a sharp fall in resources deals. · General Motors Holden receiving $2.2 billion in federal handouts over the past 12 years, 50 per cent more than past estimates · Telstra's struggling directories business Sensis getting a boost after the competition watchdog cleared its takeover of online business directory TrueLocal. · Qantas selling six times more tickets to Europe in the past nine weeks as part of its partnership with Emirates than it did in the same time last year. · A stoush erupting between unions and business groups over the Fair Work Commission's annual wage review, with the ACTU saying a $30-a-week minimum wage increase is needed to prevent Australia developing a class of working poor · Confidential NBN working documents laying bare the increasingly bitter relationship between NBN Co and its contractors, amid rising concerns about labour and skills shortages. · The Victorian government open to a large damages claim from builder Lend Lease over its handling of the $630 million Bendigo Hospital tender after the state government banned Lend Lease from bidding for new government work late last year. · Almost $US7 billion of investment in Australia's mining industry unveiled on the eve of Easter.

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. 

Interview with Harish Rao, global Head, Business Development at Sundaram Business Services Interview with economist Nicholas Gruen Leon and Garry talk about issue including: · The market’s response to the plan to tax depositors in Cypriot banks as a way to partly fund a bailout of the Mediterranean island nation. · Spain's public debt hitting a new record of 84.1 per cent of gross domestic product (GDP) at the end of 2012 while new poll confirms a surge in support for Britain's anti-EU UK Independence Party, as Prime Minister David Cameron's Conservatives fall further behind the Labour opposition. · China’s new Premier, Li Keqiang (Lee kuh Chiang) vowing to roll out economic reforms that will have “an immediate and systematic” impact while cracking down on corruption and cutting government workers and spending. · The Reserve Bank of Australia reiterating its belief that there was further scope for rate cuts before holding the official cash rate steady at its most recent board meeting. · Labor's now-abandoned forecast for a budget surplus in the current financial year slipping further away, with the latest Treasury figures showing the federal budget fell $4.6 billion further into deficit during the first four weeks of 2013. · Joe Hockey pulling away from Wayne Swan as the nation’s preferred treasurer after a rocky few months for the government in which its mining tax has underperformed and it dumped its promise to return the budget to surplus. The latest Australian Financial Review/Nielsen poll shows that after a dead heat between the pair for the past year, Mr Hockey now leads Mr Swan as preferred treasurer by 48 per cent to 40 per cent. · The federal government opening the way for mum and dad investors to diversify their superannuation savings into corporate bonds. · Commercial lending in Australia falling in January, following an uptick in the previous month, according to data released by the Australian Bureau of Statistics. For the month, commercial finance slipped a seasonally adjusted 8.7 per cent to $28.99 billion, from $31.75 billion in December. · Hefty credit card surcharges on the way out after Visa became the first company to ban Australian retailers from slapping on the fees. New rules have come into force which Visa says it will use to restrict surcharges to as little as one per cent. · Forecasts that the amount of money moving into the higher-yielding global property market could reach $1 trillion for the first time since early 2007, before the financial crisis engulfed the world. · M2 Telecommunications buying rivals Dodo and Eftel for $248 million. · The Fair Work Commission rejecting hospitality and retail sector calls for lower weekend and public holiday penalty rates. · Coca Cola Amatil's (CCA) group managing director Terry Davis to retire in a little under 18 months · Fair Work inspectors getting greater powers to oversee the 457 visa program for skilled migrant workers. · The Foreign Review Board approving Virgin Australia Holdings Ltd's takeover of Skywest Airlines Ltd, removing the final local hurdle to the deal. · Rio Tinto foreshadowing a fall in iron ore prices.