Asanga Wanigatunga, End User Computing Expert from VMware Australia - Talking Business 2013 - Ep 15

Summary: 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.