Talking Business is a weekly 15-minute podcast review of the Australian economy, presented by seasoned business journalists Leon Gettler and Gary Barker, produced in association with the RMIT College of Business. It features interviews with prominent business leaders and expert analysis from RMIT academics.
Week In Review
- Fosters splitting its wine and beer business and James Hardie posting a loss because of problems in the US housing market.
- Exxon Mobil has sold 295 stations to 7-Eleven, giving 7-Eleven 10% of the petrol market. This means that the biggest players in petrol will now be the retailers.
- Frank Lowy is now the richest man in Australia according to the BRW rich list. The property and mining sectors are the country’s most profitable sectors. Meanwhile, more Australians are filing for bankruptcy because of unsustainable home loans.
- The debate about the super profits tax continues with economists coming out in favour of it. Gunns has lost its chairman and could be the subject of a takeover with its share price tanking.
- Australian wages are expected to grow 2.5% over the next 12 months, containing inflation. Meanwhile, there is a shift in the balance of power towards consumers with IBM saying retailers need to provide them with more online information.
- New motor vehicle sales have surged 8.4% with WA leading the charge, the battle for Healthscope continues, Telstra is in trouble with regulators again, the latest bout of market turmoil has hammered commodity prices, which could affect Australian exports, and the price of gold continues to soar.
Garry Barker and Leon Gettler both have established careers with ‘The Age’ newspaper, where Garry Barker is its Technology Editor, and Leon Gettler is a Senior Business Journalist. Gettler also works freelance on a number of other publications.