NAB monthly business survey finding that business conditions fell in September - Talking Business 2012 - Ep37

Summary: Leon and Garry discuss issues including: Asia becoming the wealthiest region in the world, according to a new study by Credit Suisse. The International Monetary Fund warning the world economy risked plunging into recession unless European and American leaders acted swiftly to address their countries' debt woes, cutting its forecast for Chinese and global growth. The World Bank also cut its forecasts for China. The OECD finds that unemployment in developed countries now sits at 7.9 per cent. The eurozone unlocks its €500 billion ($A646 billion) European Stability Mechanism (ESM), amid worries over Greece and as Spain agonises over whether to call for a full bailout. German Chancellor Angela Merkel tells Greece that the "tough path" of painful spending cuts will pay off, as tens of thousands protested in a show of anger against her visit to the eurozone's most indebted nation. US unemployment falls sharply. Australia overtaking beleaguered Spain in the International Monetary Fund's latest World Economic Outlook to become the world’s 12th largest economy. ANZ monthly jobs survey showing that the number of job advertisements on the internet and in newspapers fell for the sixth straight month in September Negativity about the Australian economy pushing the Australian dollar to a three-month low Foreign Minister Bob Carr outlining plans that would see closer diplomatic engagement between China and Australia. NAB monthly business survey finding that business conditions fell in September. A National Institute of Economic and Industry Research report showing that improvements in technology, the strong dollar and increasing global competition have sent 80,000 service sector jobs overseas in the past four years. In a sign that more rate cuts are coming, the Reserve Bank is pinning its hope on an improvement in the jobs market on interest rate cuts boosting the construction sector. Research by energy efficiency consultant Big Switch Projects revealing that Some electricity companies appear to be taking advantage of the introduction of the carbon price to hike consumption charges to large commercial and industrial companies Banks lower their interest rates in response to the RBA cut Reserve Bank of Australia governor Glenn Stevens emerging as a dark horse for the top job at the Bank of England Stevens admitting it would have been "prudent" for the Australian Federal Police to have been told of corruption concerns within one of the bank's currency printing subsidiaries in 2007. Alan Jones’ radio show entirely free of advertising in response to the outcry over his comments about Julia Gillard's father. Nine working with its lenders in an increasingly desperate bid to avoid receivership. Flight Centre facing massive fines and injunctions if it loses a closely watched price-fixing case that started this week in Brisbane Federal Court and set to run for three weeks. The Queensland government generating a $400 million profit after selling more than half its stake in railroad group QR National at a premium.