Summary: Interview with Bevan Mailman. The brother of actress Deb Mailman, Bevan is a lawyer working with indigenous business and he talks here about their challenges. Interview with economist Francis Grey Leon and Garry talk about issues including: · World Bank president Jim Yong Kim saying China is likely to achieve its growth target of 7.5 per cent this year despite planned structural reforms to rebalance the world's second-largest economy · President Barack Obama’s economic adviser Larry Summers pulling out of the race to run the Fed. Many had opposed it because Summers had backed many deregulatory decisions as treasury secretary in the 1990s, and in Mr Obama’s administration had resisted more draconian treatment of the banks. Wall Street urges on news that he has pulled out. · The Congressional Budget Office saying the United States will hit its legal borrowing limit and run out of cash in the first two weeks of November, signalling an almighty political battle ahead · Important news for small business with the Abbott Government making serious attempts to address its needs. The ministry Tony Abbott has appointed for the 44th parliament is significantly different from almost all ministries in the past 43 parliaments – it includes a small business minister in the inner cabinet. And that small business minister, Bruce Billson, is a firebrand for the cause. This might mean that the influence of small business on the affairs of the Coalition cabinet will have some parallels to the influence that the unions had on ALP government cabinets. · In the wake of the Coalition's emphatic victory, retailers are very keen to the engage the new government in a serious conversation about penalty rates. The latest consumer sentiment figures suggest wallets may indeed be prised open in coming months but Australia's top retailers led by Myer CEO Bernie Brookes have been quick to draw up their own wish list · But small business is not expecting a big turnaround with an MYOB survey finding that just 23 per cent of respondents expect the domestic economy to improve within 12 months. · The scrutiny of big supermarkets' relationships with suppliers taking another twist as Woolworths Ltd readies to launch a "Woolworths Local" retail brand. The retailer has already created marketing material for a label called "W Local", with scope to use it as a new retail banner across its various outlets. The supermarket giant may also use the branding for frozen, tinned, snack and packaged food. The move echoes a move by Sainsbury's, the UK's third-largest supermarket retailer, to re-brand its smaller outlets with the "Sainsbury's Local" label in 1998. · Westfield Group entering agreements to sell seven shopping centres in the United States for $US1.64 billion ($1.77 billion). · Solomon Lew's Premier Investments Ltd is planning to expand into Europe and is looking to launch its Smiggle stationery chain there. This comes as the group announces a profit after tax of $174.5 million in fiscal 2013, including a one-off accounting reclassification gain of $105.2 million after tax, compared to the prior year's $68.3 million profit.
