Summary: Interview with Jefferson Harcourt from Grey Innovation Interview with RMIT economist Alberto Posso Leon and Garry talk about issues including: · EU governments delaying a decision to introduce controversial bank bonus caps after Britain, partly backed by Germany, sought adjustments in extra-time negotiations. · Leaders from both sides of the bitterly divided United States Congress optimistic about a funding bill averting a possible government shutdown at the end of the month. · The Dow Jones Industrial Average rising to its highest level ever, erasing losses from the financial crisis after a four-year rally fueled by the fastest profit growth since the 1990s and monetary stimulus from the Federal Reserve. It reached 14,226.2 climbing above the 14,164.53 record closing level it reached before the global financial crisis · Business activity in China continued to expand in February, though at a slower rate than in the previous month, according the HSBC China Composite purchasing managers' index. · The Reserve Bank of Australia (RBA) leaving the official cash unchanged for the second straight month at three per cent. · Australian corporate leaders nominating the strong dollar, a high cost base and the political uncertainty of a long election campaign as the main impediments to maintaining profit growth in a slowing economy. · Australia facing another two years of economic volatility as the strong dollar undermines growth outside the mining sector before the start of a new boom. And unemployment will rise this year despite the Reserve Bank's interest rate cuts, according to BIS Shrapnel · Company gross profits falling in the December quarter, slightly more than analyst expectations, according to the Australian Bureau of Statistics (ABS). According to the data, gross profits for the three months to September dropped one per cent, in seasonally adjusted terms. · Building approvals falling against expectations again in January, for the second consecutive month, according to the Australian Bureau of Statistics. ABS data showed the number of buildings approved slipped a seasonally adjusted 2.4 per cent to 12, 920 during the month. · Strategists warning that cost-cutting by companies aimed at preserving their bottom lines may achieve short-term goals, but are likely to lead to a series of downgrades to 2014 forecasts. · The Australian dollar softening to a seven-month low · Australia's current account deficit narrowing in the December quarter, against expectations of expansion, according to data from the Australian Bureau of Statistics. The data showed Australia posted a seasonally adjusted current account deficit of $14.678 billion in the three month period. · Australian job advertisements in newspapers and on the internet rebounding in February, with a second month of gains hinting at some stabilisation in demand for labour after a long period of weakness. A survey by Australia and New Zealand Banking Group showed total job advertisements rose a seasonally adjusted 3.0 per cent to 140,733 in February. · Australand Property Group Ltd confirming several parties have expressed interest in acquiring either part or all of its assets. · Telstra developing contingency plans for Tony Abbott winning the election and moving to derail its $11 billion NBN deal with Labor.
