Summary: Interview with Xero Australia's Managing Director Chris Ridd Interview with economist Alberto Posso Leon and Garry discuss issues including: · The US labour market being much weaker than expected in March, with the economy adding only 88,000 jobs, a third of the number in February and Federal Reserve chairman Ben Bernanke saying the United States economy still has a long way to go to recover to an acceptable state of health · China posting a shock trade deficit in March, against expectations of a trade surplus · A trove of data obtained by a US-based journalists' group detailing thousands of offshore accounts reveals several instances of swindles and other financial crimes · Prime Minister Julia Gillard securing an annual strategic partnership with China which will see Australia and China holding direct annual meetings together, cooperating formally on climate change, international aid and currency trading. As part of the new arrangements, ANZ and Westpac become the first Australian banks to help businesses directly trade Australian dollars for the Chinese yuan. At the same time, a Federal Government briefing paper warns that the bilateral relationship with China is threatened by the jailing of Australian business people · ANZ Jobs Ads survey showing job advertisements falling in March, slipping from their highest level since October 2012 · Housing Industry Association data showing construction activity slowing down, falling by 6.6 points to an index level of 39 in March. It is the industry's 34th consecutive monthly decline in activity · NAB Monthly Business Survey showing business conditions sinking to their lowest level in almost four years in March on the back of a steep fall in the manufacturing and retail sectors · Fortescue Metals Group on track to announce the sale of a stake in its rail and port business by the middle of the year · Opposition Leader Tony Abbott unveiling plans to build a scaled-down version of the national broadband network for $20.4 billion amid a fresh political stoush over the cost of the biggest public infrastructure project in Australia’s history · Research showing that supermarket private label brands have grown in "low double-digit" figures. · Billabong International Ltd announcing it has reached an agreement with a consortium led by fomer head of its Americas division Paul Naude, The deal with Mr Naude and Sycamore Partners is for 60 cents per share, which values the embattled retailer at $287 million · Small businesses hit with higher Australia Post charges, the second move in just over a year, as the organisation struggles under the weight of parcels bought from online stores. · Holden axing 500 jobs across its South Australian and Melbourne operations, blaming declining demand for its small Cruze cars and the "unprecedented" strength of the Australian dollar. · Sundance Resources Ltd terminating a long-gestating $1.3 billion takeover proposal from China's Hanlong Mining. · Wesfarmers parachuting Coles executive Stuart Machin in to run discount retailer Target following the resignation of Dene Rogers. · Ruralco Ltd, Australia's largest rural services group, warning that its profit could fall by up to 70 per cent due to lower livestock prices.
