Jeetu Patel, General Manager, Syncplicity Business Unit at EMC - Talking Business 2013 Ep 20

Summary: Interview with Jeetu Patel, General Manager, Syncplicity Business Unit at EMC Interview with RMIT economist Jonathan Boymal Leon and Garry discuss issues including: · The Bank for International Settlements (BIS) saying banks have done their bit to help economic recovery and governments must do more. · China's financial system convulsing in the throes of a cash squeeze, with interbank lending rates spiking and bank-to-bank borrowing stalling, as the government tries to restructure the economy and punish speculators. · Consumer confidence in the United States surging to a five-year high in June · The Swiss-based Bank for International Settlements ranking Australia's big four banks as the most profitable in the developed world · A Lowy Institute survey finding that Australians continue to have warm feelings toward Great Britain, Germany and the United States, but rate their feelings toward China and Indonesia as not so hot · The owner of Sydney's The Star casino unveiling plans for a "world first" resort linking harbour precincts, while leaving the door open for a restricted second casino from rival James Packer · APN News and Media Ltd mulling a significant restructure, with a view to selling its outdoor advertising assets as a trade off for full control over its radio division. · Rio Tinto Ltd opting to retain its diamond business following the conclusion of a strategic review which considered a range of options, including potential divestment · Metcash more than doubling its profit to $206 million · Australian insurance and wealth management company AMP warning investors that its half-year profit is likely to drop by 13 per cent. · Wotif warning that it will post a lower profit this financial year due to its underperforming Asian business continuing to drag on earnings. · Goodman Fielder Ltd flagging a significant lift in its second-half pre-tax earnings from continuing operations on the back of a turnaround in its bakery business and its dairy and grocery divisions · KFC and Sizzler franchisee, Collins Foods Ltd posting a 43 per cent rise in net profit to $16.368 million for the financial year to April 28 · Tabcorp Group Ltd and Tatts Group Ltd winning a court challenge against the Victorian government over a levy on gaming machines they no longer operate · Leighton Holdings winning a $1.3 billion deal for work at Fortescue Metals Group Ltd's Kings iron ore project at Solomon Hub and a $1.15 billion contract to build Sydney's north west rail link in a joint venture with global conglomerate ACS Group's Dragados. · Chant West research finding that superannuation funds are on course to deliver their second-best result for a single financial year in the past 16 years · The former chairman of the Australian Securities Exchange Dr Maurice Newman conducting an independent review of Newcrest Mining’s disclosure and investor relations practices. · Australian Motor Industry Federation chair Richard Dudley warning that a “perfect storm" is about to hit the car industry. He says the next federal government must act within 100 days to save it. GM Holden chief Mike Devereux tell Canberra Holden needs help if it’s to stay in Australia.