Summary: nterview with Rajiv Shah, communications, data and security solutions director at BAE Systems Detica Australia on risks of the BYOD movement Interview with economist Nicholas Gruen on promises that could have been made in the election campaign, but weren’t. Leon and Garry discuss issues including: · The Organisation for Economic Co-operation and Development reporting that North America, Japan and the United Kingdom are expanding while the euro area as a whole was no longer in recession. Growth in China - Australia's number one trading partner - also appears to have passed a trough. The Chinese economy is likely to grow at a 7.2 per cent annualized rate in the third quarter and 8.1 per cent in the fourth, the report said, accelerating from the 7.0 per cent growth recorded in the second quarter. But it warns recent financial market turbulence points to difficulties in a number of other emerging economies. And it says unemployment will remain high in developed countries · Eurozone manufacturing activity hitting a 26-month high in August, confirming other recent data that shows the bloc coming out of a deep recession · China putting in a mixed performance. On the plus side, China’s economy is strengthening after a two-quarter slowdown, with a manufacturing gauge rising to a 16-month high in August as new orders jumped and overseas demand rebounded. But China has also lowered its figure for economic growth for last year to 7.7 per cent from 7.8 per cent · Rio Tinto expanding its operations in the Pilbarea to capitalise on the growth in China · Mixed signals for the Australian economy with Australian business not expecting the long-awaited economic revival to arrive this year, with muted expectations for sales, investment and employment but there’s a slight pickup in retail sales, the trade deficit for the quarter falling seven per cent to a seasonally adjusted $9.35 billion and building approvals jumping over 10 per cent in July, beating analyst expectations of a more modest rise. The rate of inflation slowed to a crawl in August, leaving the door open for the central bank to stimulate the economy if need be. · The Reserve Bank of Australia keeping the official cash rate steady at its September board meeting. The bank kept the rate at 2.5 per cent, in line with analyst expectations. While some expect further cuts there is also the likelihood that the next movement for rates could be heading north. · Virgin Australia Holdings Ltd and Air New Zealand Ltd getting conditional authorisation from the consumer watchdog for an extension of their trans-Tasman alliance. Virgin Australia Holdings Ltd and Air New Zealand Ltd have conditional authorisation from the consumer watchdog for an extension of their trans-Tasman alliance.
