Talking Business with Leon Gettler

Peter Costello resigns. He is succeeded by Catherine West, a former Murdoch executive with Sky in the UK.The Chemist Warehouse-Sigma merger will give the company nearly half the market.Bain bids $1.83 billion for Bapcor amid market challenges.Bonza’s administrators sacks all staff as prospects for a sale dry up. Lion, one of the largest drinks groups in the world, intends shutting a craft brewery in inner Sydney that has been operating for 36 years. Rising costs, a shrinking beer market and consumer spending cutbacks have taken their toll.    Follow my socials on:https://twitter.com/leongettlerhttps://www.instagram.com/leongettler/https://www.linkedin.com/in/leongettler/https://www.facebook.com/talkingbusinesspodcasthttps://business.google.com/dashboard/l/17460167277811417147?hl=en&gmbsrc=au-en-z-z-z-gmb-s-119-u~mhp-ns_hom_8-u&omec=EI_z6RYYASIBATIBATotZ21ic3JjPWF1LWVuLXotei16LWdtYi1zLTExOS11fm1ocC1uc19ob21fOC11QAFKEwjq4cCIj5D3AhXNnWMKHUB5Cqg%3Dhttps://www.youtube.com/c/LeonGettler/discussion?app=desktop

Rupert Murdoch locks in his fifth marriage (and his molecular biologist wife her third marriage). Just the odds!Australia’s GDP growth for the March quarter was an anaemic 0.1%  So annual growth has slipped to 1.1%. Australia remains in a per capita recession as we have been since late 202Yoga instructors, martial artists and dog handlers have beaten some construction trades to a spot on the government’s draft priority skills list for migrants, despite the dire need for workers to tackle Australia’s housing crisis.Fair Work Commission warns that stalled productivity and falling profits in Australia’s retail and hospitality industries remain barriers to reversing the fall in real wages since the pandemicAustralian business failures tracking at the highest rate since the aftermath of the global financial crisis combined with mortgage and cost of living pressures are seeing a rapidly rising number of personal insolvencies.Follow my socials on:https://twitter.com/leongettlerhttps://www.instagram.com/leongettler/https://www.linkedin.com/in/leongettler/https://www.facebook.com/talkingbusinesspodcasthttps://business.google.com/dashboard/l/17460167277811417147?hl=en&gmbsrc=au-en-z-z-z-gmb-s-119-u~mhp-ns_hom_8-u&omec=EI_z6RYYASIBATIBATotZ21ic3JjPWF1LWVuLXotei16LWdtYi1zLTExOS11fm1ocC1uc19ob21fOC11QAFKEwjq4cCIj5D3AhXNnWMKHUB5Cqg%3Dhttps://www.youtube.com/c/LeonGettler/discussion?app=desktop 

Inflation has risen for a second month to 3.6% in the year to April, confounding expectations that consumer price growth would restart its downward trend:Lend Lease exits overseas markets, waving the white flag and finally agreeing with what investors have told it for years: it’s just too hard.Research has found that migrants in Australia are driving Ubers and not working in skilled jobs.Australian business failures are tracking the highest rates since the aftermath of the Global Financial Crisis.Sexual harassment and workplace scandals at Nine Entertainment and Country Road.Follow my socials on:https://twitter.com/leongettlerhttps://www.instagram.com/leongettler/https://www.linkedin.com/in/leongettler/https://www.facebook.com/talkingbusinesspodcasthttps://business.google.com/dashboard/l/17460167277811417147?hl=en&gmbsrc=au-en-z-z-z-gmb-s-119-u~mhp-ns_hom_8-u&omec=EI_z6RYYASIBATIBATotZ21ic3JjPWF1LWVuLXotei16LWdtYi1zLTExOS11fm1ocC1uc19ob21fOC11QAFKEwjq4cCIj5D3AhXNnWMKHUB5Cqg%3Dhttps://www.youtube.com/c/LeonGettler/discussion?app=desktop

RBA minutes confirm a tightening bias, but it's reluctant to hike. This, as consumer sentiment remains deeply pessimistic with just over half expecting rate rises to resume over the next 12 months. Macquarie Group economists estimate there is a 50% chance of recession this year, as the “trap” of high migration unwinds and high interest rates leave the private sector in “stagnation”.A setback for Peter Dutton’s nuclear energy plans with the CSIRO estimating the nation’s first large-scale nuclear power plant could cost as much as $17 billion in today’s dollars, and would not be operational until at least 2040.Liberal Senator Linda Reynolds and her former staffer Brittany Higgins fail to reach an agreement in a second round of mediation.Telstra slashes its workforce by 9%.Follow my socials on:https://twitter.com/leongettlerhttps://www.instagram.com/leongettler/https://www.linkedin.com/in/leongettler/https://www.facebook.com/talkingbusinesspodcasthttps://business.google.com/dashboard/l/17460167277811417147?hl=en&gmbsrc=au-en-z-z-z-gmb-s-119-u~mhp-ns_hom_8-u&omec=EI_z6RYYASIBATIBATotZ21ic3JjPWF1LWVuLXotei16LWdtYi1zLTExOS11fm1ocC1uc19ob21fOC11QAFKEwjq4cCIj5D3AhXNnWMKHUB5Cqg%3Dhttps://www.youtube.com/c/LeonGettler/discussion?app=desktop

Chalrmer’s election budget promises inflation will give voters a Christmas by returning to the RBA’s 2-3% target by the end of the year. The question is whether the RBA agrees.Small business is likely to be underwhelmed by the Budget which only announced investment initiatives for select industries only.A big victory for Elon Musk. An Australian federal court judge has shut down the Australian eSafety Commissioner's argument in its legal battle against 𝕏 over a global takedown order calling for the removal of videos.Anglo American has rejected an improved takeover offer from BHP valued at around $42.7 billion.PwC says it’s not liable for a boss rape.Follow my socials on:https://twitter.com/leongettlerhttps://www.instagram.com/leongettler/https://www.linkedin.com/in/leongettler/https://www.facebook.com/talkingbusinesspodcasthttps://business.google.com/dashboard/l/17460167277811417147?hl=en&gmbsrc=au-en-z-z-z-gmb-s-119-u~mhp-ns_hom_8-u&omec=EI_z6RYYASIBATIBATotZ21ic3JjPWF1LWVuLXotei16LWdtYi1zLTExOS11fm1ocC1uc19ob21fOC11QAFKEwjq4cCIj5D3AhXNnWMKHUB5Cqg%3Dhttps://www.youtube.com/c/LeonGettler/discussion?app=desktop

Higher for longer and rates might go up again: That's the message we’ve got from the Reserve Bank of Australia on interest rates. Rating agencies have put the Victorian government on notice after it revealed state debt would climb to $188 billion in a budget that failed to cut spending The scale of the Bonza collapse has been revealed in court with almost 60,000 customers affected and lawyers claiming they would need a stadium to hold the thousands of creditors. Perpetual will be broken up and its 138-year-old name sold to private equity giant KKR as part of the biggest overhaul in its history.  The Australian Taxation Office is ramping up action against company directors as it chases $2.5 billion in unpaid taxes from businesses that have failed to pay superannuation, pass on GST or pass on income tax of employees. Follow my socials on:https://twitter.com/leongettlerhttps://www.instagram.com/leongettler/https://www.linkedin.com/in/leongettler/https://www.facebook.com/talkingbusinesspodcasthttps://business.google.com/dashboard/l/17460167277811417147?hl=en&gmbsrc=au-en-z-z-z-gmb-s-119-u~mhp-ns_hom_8-u&omec=EI_z6RYYASIBATIBATotZ21ic3JjPWF1LWVuLXotei16LWdtYi1zLTExOS11fm1ocC1uc19ob21fOC11QAFKEwjq4cCIj5D3AhXNnWMKHUB5Cqg%3Dhttps://www.youtube.com/c/LeonGettler/discussion?app=desktop

The cheap Aussie airline Bonza, which is majority owned by Florida-based private investment firm 777 Partners, has appointed a voluntary administrator to run the discount regional airline after the company behind its aircraft provider repossessed its planes in AustraliaStar Entertainment chair David Foster latest to depart amid Sydney casino inquiry. Twitter Australia is expected to be wound up by the end of 2024 after new documents filed with the corporate regulator show it reported just $3.4 million in revenue in the first half of 2023, plunging more than 80%The corporate watchdog has raided a Gold Coast-based cryptocurrency miner, which allegedly encouraged investors to put their super into crypto products without a financial licence, amid fears $62 million put in by savers would disappear.The growing scandals now swirling around leading shopping giant Super Retail Group is quickly turning into a soap opera with fresh accusations of a cover up of an alleged undisclosed affair between Super Retail chief executive Anthony Heraghty and his former head of human resources.Follow my socials on:https://twitter.com/leongettlerhttps://www.instagram.com/leongettler/https://www.linkedin.com/in/leongettler/https://www.facebook.com/talkingbusinesspodcasthttps://business.google.com/dashboard/l/17460167277811417147?hl=en&gmbsrc=au-en-z-z-z-gmb-s-119-u~mhp-ns_hom_8-u&omec=EI_z6RYYASIBATIBATotZ21ic3JjPWF1LWVuLXotei16LWdtYi1zLTExOS11fm1ocC1uc19ob21fOC11QAFKEwjq4cCIj5D3AhXNnWMKHUB5Cqg%3Dhttps://www.youtube.com/c/LeonGettler/discussion?app=desktop

Australia’s inflation comes in higher than expected at 3.6%. Service inflation is the main culprit holding back progress. Insurance premiums jumped by their most in 23 years, rents grew at their fastest annual pace face in 15 years, and education fees saw their largest quarterly rise in 12 years. You can forget about a rate cut this year!Australia will cut the growth outlook for most major economies, including key trading partner China, when it releases its budget next month. Free-to-air broadcasters are preparing for a furious lobbying effort to change proposed laws that put at risk one of their crucial sources of revenue, live sport, as new figures show young viewers have all but switched off their networks. Major supermarkets are accused of confusing and potentially misleading consumers with promotional labels which do not always reflect genuine discounts as Australians continue to struggle with the rising cost of groceries. The federal government’s eSafety commissioner won an emergency injunction in the Federal Court late Monday to force Elon Musk’s X to remove videos of last week’s Sydney terrorist attack after the billionaire mocked earlier take-down demands.Follow my socials on:https://twitter.com/leongettlerhttps://www.instagram.com/leongettler/https://www.linkedin.com/in/leongettler/https://www.facebook.com/talkingbusinesspodcasthttps://business.google.com/dashboard/l/17460167277811417147?hl=en&gmbsrc=au-en-z-z-z-gmb-s-119-u~mhp-ns_hom_8-u&omec=EI_z6RYYASIBATIBATotZ21ic3JjPWF1LWVuLXotei16LWdtYi1zLTExOS11fm1ocC1uc19ob21fOC11QAFKEwjq4cCIj5D3AhXNnWMKHUB5Cqg%3Dhttps://www.youtube.com/c/LeonGettler/discussion?app=desktop

Tesla is slashing headcount by more than 10%, or 140,000 jobs, as part of a global retrenchment extending all the way into its executive ranks as the carmaker struggles with slowing demand for electric vehicles.Outgoing Woolworths boss Brad Banducci was threatened with six months in jail for contempt of the Senate after he refused to directly answer questions about a profit metric, in a fiery Greens-led Senate hearing that went off the rails on Tuesday. Greens are accused of grandstanding instead of focusing on cost of living.Leading defamation lawyers and academics say Bruce Lehrmann’s spectacular defamation defeat will make high-profile litigants think twice before rushing to court to redeem their reputations.Star Entertainment’s chairman and former chief executive privately schemed to wage war on the casino regulator and considered engaging shareholders in a class action against a NSW government-appointed manager.Major Australian media companies reeling from the prospect of losing $300 million in advertising revenue from a government crackdown on gambling advertising now face an even more expensive blow from a possible ban on junk food ads.Follow my socials on:https://twitter.com/leongettlerhttps://www.instagram.com/leongettler/https://www.linkedin.com/in/leongettler/https://www.facebook.com/talkingbusinesspodcasthttps://business.google.com/dashboard/l/17460167277811417147?hl=en&gmbsrc=au-en-z-z-z-gmb-s-119-u~mhp-ns_hom_8-u&omec=EI_z6RYYASIBATIBATotZ21ic3JjPWF1LWVuLXotei16LWdtYi1zLTExOS11fm1ocC1uc19ob21fOC11QAFKEwjq4cCIj5D3AhXNnWMKHUB5Cqg%3Dhttps://www.youtube.com/c/LeonGettler/discussion?app=desktop