CEO of the Australian Industry Group, Innes Willox - RMIT economist Sinclair Davidson - Talking Business 2012 - Ep23

Summary: Interview with Innes Willox, CEO of the Australian Industry Group Interview with RMIT economist Sinclair Davidson Leon and Garry discuss the latest issues including: The latest eurozone deal bolstering world markets hoping for a long-term solution to the debt crisis Greece facing a worse-than-expected recession US manufacturing shrinking The International Monetary Fund paring its growth forecast for the US economy Growth in China's manufacturing activity falling to a seven-month low Barclays Banks losing its chairman and CEO because of the rate rigging scandal Analysts say the Australian equity market faces in for the kind of low-growth akin to that experienced in the 1950s and 1960s. The winners and losers in the Australian market in 2011-12 The Reserve Bank of Australia keeping the official cash rate on hold at 3.50 per cent, in line with market consensus. Sentiment among local manufacturers falling noticeably, as concerns over rising staffing costs and the high Australian dollar dampen the sector’s sales and profit expectations, according to the latest Dun and Bradstreet National Business Expectations Survey. New MYOB research showing that that almost half of Australian business operators borrowed money to stay afloat in the last 12 months, with just a quarter of them borrowing money to spend on their business Australia's manufacturing sector contracting for its fourth straight month in June, according to the Australian Industry Group/PriceWaterhouseCoopers Australian Performance of Manufacturing Index RP Data-Rismark data showing national home prices rose by 1 per cent in June but remaining 3.8 per cent lower over the past year. Retail sales in Australia rising 0.5 per cent to a seasonally adjusted $21.3073 billion in the month, beating analyst expectations Building approvals rocketing a seasonally adjusted 27.3 per cent to 13,591 for the month, well ahead of analyst expectations Australia's services sector continuing to contract in June but at a much slower pace than in previous months Australia's rate of inflation falling to its lowest level since the global financial crisis The Australian Securities Exchange (ASX) examining reforms that would make it easier for listed companies to raise money from their shareholders in an effort to expedite the process for rights issues Polls showing that opposition to the carbon tax has risen three points to 62 per cent, while support is down four points in a month Business splitting over the carbon tax. Despite protests of about 2000 people in Sydney, led by Alan Jones, almost 300 organisations have galvanised under the banner of Businesses for a Clean Economy to voice their support for putting a price on carbon. This clashes with the BCA, which supports a carbon price in theory but strongly opposes Labor's scheme Brumby’s Bakeries apologising for a "foolish'' newsletter urging its stores to put up prices and "let the carbon tax take the blame'' New figures showing the average superannuation fund will post a positive return for the third year running, but only just Grocery wholesaler Metcash says it is negotiating the acquisition of three or four small businesses for about $90 million