Talking Business with Leon Gettler

 In an important report, the IMF has found Australian households are more sensitive to changes in interest rates than virtually any other consumers globally because of the dominance of variable-rate mortgages, high levels of household debt and lax lending rules.The Albanese government will push insurers to cut costs for households that take steps to reduce their risks amid soaring double-digit premium growth that is expected to continue in 2024.Craig Emerson's interim report into the behaviour of big supermarkets recommends massive fines for those who abuse their buying power to unfairly treat farmgate suppliers. Seven’s investigative program, Spotlight, will make its return on Sunday April 14. That’s despite concerns the fact the ­beleaguered current affairs show could be hit by a public backlash over scandalous claims that emerged about the network last week.The head of Mayfair, James Mawhinney, who has been charged with four counts of engaging in dishonest conduct, faces a lengthy time in jail.  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

In an extraordinary development in the Lehmann vs Ten defamation case, a former producer on Seven’s Spotlight program besmirched Bruce Lehrmann’s credibility by alleging he had received perks totalling tens of thousands of dollars including a $361 steak and reimbursement for the cost of sex workers and illicit drugs before he signed an exclusive interview deal with the network.Paula Hitchcock says she regularly attended the billionaire Pratt family’s weekly Shabbat at the invitation of her biological ­father, Richard Pratt, and his wife Jeanne.The Australian economy is in the middle of a “perfect storm” with insolvencies rising to an almost decade high last month as businesses struggle with crushing debt and a shortage of cash.One of Australia’s top green energy superpower advocates says it is unclear whether the nation has a comparative advantage in the solar panel industry that the Albanese government is propping up with $1 billion of support, including in regions facing the likely loss of thousands of coal-fired power station workers, some earning up to $170,000.British Formula One racing team McLaren has teamed up with the Great Barrier Reef Foundation to help accelerate the restoration of coral on one of Australia’s biggest tourism drawcards.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        

In an extraordinary development in the Lehmann vs Ten defamation case, a former producer on Seven’s Spotlight program besmirched Bruce Lehrmann’s credibility by alleging he had received perks totalling tens of thousands of dollars including a $361 steak and reimbursement for the cost of sex workers and illicit drugs before he signed an exclusive interview deal with the network.Paula Hitchcock says she regularly attended the billionaire Pratt family’s weekly Shabbat at the invitation of her biological ­father, Richard Pratt, and his wife Jeanne.The Australian economy is in the middle of a “perfect storm” with insolvencies rising to an almost decade high last month as businesses struggle with crushing debt and a shortage of cash.One of Australia’s top green energy superpower advocates says it is unclear whether the nation has a comparative advantage in the solar panel industry that the Albanese government is propping up with $1 billion of support, including in regions facing the likely loss of thousands of coal-fired power station workers, some earning up to $170,000.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=desktopBritish Formula One racing team McLaren has teamed up with the Great Barrier Reef Foundation to help accelerate the restoration of coral on one of Australia’s biggest tourism drawcards.        

Data from research firms show the number of people using X daily is falling, more than a year after tech billionaire Elon Musk bought the app formerly known as Twitter. Australian unions will push for a 5% increase to the minimum wage for more than 2.9 million workers, while employers will demand a major pay slowdown to offset record increases that “overcompensated” for inflation.Jacqui Lambie will demand the Liberals agree to boost transparency in Tasmania’s political system, and rethink plans for a $715 million AFL stadium in Hobart, in exchange for a deal to return Premier Jeremy Rockliff to power.Peter Dutton has committed the Coalition to develop laws that could extend to forcibly breaking up Coles and Woolworths. Basically, he has stopped the Nationals working with the Greens to rein in supermarket power, telling Coalition MPs that the Coalition will not use the Greens for economic leadership.Despite worsening affordability, rising cost of living and rate hikes, CoreLogic data shows that property prices rose 8.9% in February driving up the cost of rent way over inflation, thanks to the undersupply of housing and high migration.    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 RBA keeps rates on hold but says the board isn’t “ruling anything in or out” on interest rates.A new report forecasts housing supply to fall off a cliff over the next two years putting the Australian government further behind its ambitious housing targets. Uber will pay over $272 million to Australian taxi drivers to compensate them for lost income because it entered the Australian market.Australia’s second biggest telco, Optus, could be partially offloaded to the Canadian private equity titan in a blockbuster deal valuing the company at $16bn. It will be the biggest foreign investor to foreign investor sale in Australian history.Corporate Australia risks heightening Australia’s skill shortage as a chunk of large businesses look to slash learning and development budgets this year to combat a deterioration in the economy. 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    

Much to the dismay of Fed Chair Powell, US CPI is HOT. Headline CPI inflation increased 3.2% Y/Y, accelerating from 3.1% in January. After this data, Fed rate futures are pricing in only 1% odds of a rate cut at the next FOMC meeting. It also dents Biden’s re-election chances.CreditorWatch has warned more businesses will go under in the coming months as cost pressures from interest rates, inflation, wages and labour shortages bite deeper with payment defaults hitting a record high in February.Billionaires such as Clive Palmer and Mike Cannon-Brookes will have their influence on politics dramatically curtailed as Labor moves to remove big money donations in the biggest shake-up to Australian election rules in a generation.Wealthier Australians will pay more for aged care under a long-awaited government review, which calls for retirees to make rental contributions instead of large lump sum deposits to live in nursing homes.Opposition Leader Peter Dutton amplifies his case for nuclear to play a central role in Australia reducing its emissions.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

China sets ambitious economic growth target of ‘around 5%’ for 2024, as leaders aim to restore confidence in faltering economy.Rocked by a series of money-laundering scandals, Australia’s casinos are looking beyond hard core gaming to a safer bet – ­tourists.Business-related personal insolvencies are on the rise, as personal guarantees catch up with directors of previously wound-up businesses. Australia’s cost-of-living crisis appears to be easing on several fronts but one key household expense continues to climb sharply and painfully: insurance.  The possibility of an ACCC investigation of the big four has emerged during an inquiry into the sector due to concerns their behaviour in the audit market resembles an “oligopoly” 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     

Universities could soon be facing major funding changes as the biggest review of the sector in decades calls for a radical reshaping of the tertiary education sector.The tax office is investigating a suspected $180 million tax fraud by a top formwork contractor in the construction industry that could end up as the biggest tax fraud in Australian corporate history.Australia’s big four consulting firms have seen the value of contracts awarded by the Commonwealth nearly halve in value following the federal government’s cold war against the sector after the PwC tax scandal.French building giant Saint-Gobain has sealed a $4.32bn takeover offer for CSR that includes accepting liability for the Australian company’s asbestos claims.Optus is laying off almost 200 staff from the company after cutting 600 jobs last year which the union says had a major impact during the telco’s national outage in November.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 banking oligopoly looks to be entrenched. It seems that the takeover of Suncorp bank by ANZ allowed by the Competition Tribunal despite ACCC objections. Competition law in Australia is a joke.Research undertaken by the OECD has concluded that those parts of the country with the highest level of migrants tend to have the highest productivity.Four Corners reveals that Coles and Woolworths have been profiting from higher prices at the check-out, despite repeated assurances from the supermarket giants that they’re doing everything in their power to keep grocery bills down.Star Entertainment is on the verge of losing a lucrative licence to operate one of two Sydney casinos after the NSW regulator launched an independent inquiry into whether the company had fixed major cultural failures.Seven Group, headed by billionaire Kerry Stokes and his family, already owns nearly 72% of Boral, and the bid is designed to mop up the rest of the company.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