Summary: Interview with Frank Milne, BMO Professor of Economics and Finance, Queens University, Ontario, Interview with RMIT economist Sinclair Davidson Leon and Garry talk about topics including: . News Corporation has announced that James Murdoch has stepped down as executive chairman of News International in response to damning revelations about his role in the hacking scandal. . Data from the Climate Change Department released showing that power generators accounted for some 170 million tonnes of carbon dioxide emissions in the 2010-11 financial year, which if repeated next year could leave the sector on the hook for more than half of the revenues expected to be raised by the looming carbon tax. . Three of Australia's big four banks have had their prized AA credit ratings downgraded by one notch because of their partial reliance on wholesale funding markets but Bank of Queensland has been placed on credit watch positive by ratings agency Standard and Poor's (SandP), indicating an upgrade to the lender's long-term credit rating is possible. . The number of Australian banking jobs heading offshore is set to grow following an announcement by RBS Australia that its fixed-interest team operations will almost entirely be moved to Singapore and London. . A fall in house sales in Victoria dragged national new home sales weaker in January . Construction work and retail trade figures confirm the economy has plenty of weak patches amid the areas of strength from the mining boom. Retail turnover rose by 0.3 per cent in January, after adjusting for the regular seasonal pattern and the volume of construction work done fell by 4.6 per cent. . A survey shows that online sales account for less than five per cent of the total retail sector, but shoppers are slowly drifting that way. . Crown plans to spend more than $1.5 billion on building new luxury hotels in Sydney and Perth, after boosting its investment in rival casino operator Echo Entertainment but former Prime Minister Paul Keating is putting pressure on James Packer. . Crown posts a net profit of $247,402 million. . Echo Entertainment Group hopes to boost the number of high-rolling gamblers visiting its Queensland casinos, after its Sydney casino. . Gaming machine supplier Aristocrat on Tuesday booked an annual net profit of $66.14 million. . Telstra Corporation Ltd has accepted the terms to its structural separation, removing the last major barrier to the government's national broadband network. . Iain Ross, a judge and former ACTU officer, has been named the new president of Fair Work Australia. . David Jones second quarter sales fall 3.1 per cent in a challenging retail environment. . Profit figures from Vodafone, Hastings Diversified Utilities, Fairfax, Boral, Worley Parsons, Southern Cross Austereo, Caltex Australia, Collins Foods, SFG Australia, Atlas Iron, ROX Oil Company, James Hardie, Gunns, Seven Group Holdings and Spark Infrastructure. . Holden wants about 2 1/2 times as much federal government money as the $100 million speculated for the package to maintain two-model manufacturing at its Adelaide car factory.
