Nick Simcock, Managing Director of Futurestep’s New Zealand business - Talking Business 2013 Ep 21

Summary: Interview with Nick Simcock, Managing Director of Futurestep’s New Zealand business and member of Futurestep’s Global RPO Leadership team. Interview with economist Stephen Koukoulas Leon and Garry discuss issues including: · Official figures showing unemployment across the 17 European Union countries that use the euro reaches another record high in May. Eurostat, the EU's statistics office, says that eurozone unemployment rose 0.1 percentage point in May to 12.1 per cent. · Data showing China’s manufacturing sector weakened sharply in June, an indication that the country’s growth slowdown has deepened as the government has refrained from stimulating the sluggish economy. The official purchasing managers’ index fell to 50.1 last month from 50.8 in May. · The United States Federal Reserve announcing a fresh plan to tighten capital requirements for the country's largest banks to help ensure they are protected against unexpected losses and economic downturns. · More signs that the mining downturn is continuing with Brazilian resources giant Vale selling a Queensland coal mine, following retrenchments and asset writedowns across its Australian operations, global mining giant Glencore Xstrata cutting 450 jobs at two central Queensland coal mines, against a backdrop of lower coal prices and a strong Australian dollar, US giant Peabody Energy announcing 450 job losses at its NSW and Queensland coal mines, mining services company Downer EDI shedding 185 positions at its Goonyella Riverside coal mine in central Queensland, Xstrata Coal, a subsidiary of Glencore Xstrata, is shedding 46 jobs from its Ravensworth underground coal mine in the NSW Hunter Valley and the world's largest gold mining company Barrick is slashing 65 jobs in Western Australia · The Australian dollar this week falling close to 91 US cents after a member of the US Federal Reserve board of governors suggested American stimulus measures could be eased from September. · The Reserve Bank of Australia holding the official cash rate at a record low 2.75 per cent for the second consecutive month, in line with analyst expectations, but has flagged the inflation outlook could provide scope for further easing. · The new Treasurer Chris Bowen recasting Labor's economic message, warning of an uncertain outlook that will require "careful management" with China’s transition and falling iron ore and gold prices. · The manufacturing sector nudging growth in June, according to the latest monthly survey of the sector by the Australian Industry Group. The key measure from the survey, the Australian Performance of Manufacturing Index (PMI), rose to 49.6, up 5.8 points from May. That result put the PMI just under the 50-mark that stands between contraction and expansion. · The new look federal Labor government following up its commitment to rebuild bridges with the business community and holding talks with a group representing the nation's top 100 bosses. · PricewaterhouseCoopers warning that already cash-strapped newspapers risk losing another third of their ad revenue during the next five years unless they can win more value out of their consumers. · Brambles spinning off its Recall document-management business into a separately-listed company after failing to find a buyer last year.