Founder of Tapit, David Cunningham - RMIT economist Jonathan Boymal - Talking Business 2012 - Ep17

Summary: 
Interview with David Cunningham who founded near field communications company Tapit. Interview with RMIT economist Jonathan Boymal Leon and Garry discuss issues including: Australia living up to its nickname of "the lucky country", with a new OECD survey marking it as the happiest industrialised nation in the world based on criteria such as jobs, income and health. But the top economist at the Organisation for Economic Co-operation and Development (OECD) is warning that the 17-country eurozone risks falling into a "severe recession" Despite the rosy outlook for Australia, the outlook for economic growth has improved although it is still below average, according to the Westpac-Melbourne Institute leading index. Retail spending rising for the ninth straight month in April but it is unclear whether the outlook is favourable. The Commonwealth Bank (CBA) Business Sales Indicator (BSI) rose by 0.5 per cent in trend terms in April, after a 0.8 per cent gain in March. The company that purchases white goods and electronics for more than 100 Retravision stores in Victoria, southern NSW and Tasmania has gone into voluntary administration. Myer Holdings Ltd lowering its full year profit guidance, after posting a slight decline in sales for the third quarter, in what it says is a very challenging trading environment. Roy Morgan Research finds that Australia's real unemployment rate is twice the official figure and the Reserve Bank must urgently cut interest rates, says the nation's biggest research firm. The Australian dollar keeps falling as nervousness grows that a summit of European leaders won't make progress on a solution to the region's debt crisis. Malaysia and Australia have signed a free trade agreement that will allow Malaysia to export all goods duty-free into Australia once the deal comes into force on January 1, 2013. Qantas Airlines Ltd has announced a major restructure, which will see it split its operations into two separate domestic and international businesses with their own management. Qantas is also axing 500 jobs Leighton is now paving the way to exit, or sell down, its share of the troubled Habtoor joint venture by preparing to float off shares in the company to a regional market in the Middle East, most likely Dubai. James Hardie Industries Ltd expects Australia’s residential construction activity to continue to contract in the coming 12 months, despite swinging to profit in the full year. Elders has returned to profitability with a first half net profit of $40.5 million Laboratory group Campbell Brothers Ltd's full year profit is up 68 per cent and the company expects more growth in the year ahead. Ticketing and labelling group TMA was behind a recently revealed takeover offer of printer and publisher PMP worth up to $252.5 million. Direct marketing company Sema Group has been placed in voluntary administration. Ten Network Holdings is negotiating the sale its outdoor advertising business Eye Corp, saying it has entered into an exclusivity agreement with a bidder. BHP Billiton Mitsubishi Alliance's (BMA) central Queensland coal miners will strikes after rejecting the latest workplace offer.