Mobility Products at Trend Micro, Ron Clarkson - Economist Nicholas Gruen - Talking Business 2012 - Ep43

Summary: Interview with Ron Clarkson, Vice President, Mobility Products at Trend Micro Interview with economist Nicholas Gruen Leon and Garry talk about issues including: The OECD predicting that China will overtake the US as the world’s largest economy as early as 2016 in terms of purchasing power. China's export growth meanwhile accelerating in October, adding to evidence the world's second-largest economy is bouncing back as the ruling Communist Party chooses new leaders The Greek parliament approving a slashed 2013 budget which will secure the release of foreign aid vital to save the debt-ridden country from insolvency. Meanwhile an Italian prosecutor has filed charges of market manipulation against Standard and Poor's and Fitch ratings agencies over downgrades of Italy's credit rating that helped fuel the euro debt crisis. Japan's economy contracting 0.9 per cent in the three months to September, official data showed, the first dip into negative territory in three quarters. That leaves Japan facing the prospect of five recessions in fifteen years – that's one every three – which would have to be a record. Australia’s economic prospects getting downgraded by the Reserve Bank for the third time this year as weak export prices, a stubbornly high dollar and budget cuts take a hefty toll on growth NAB latest monthly survey finding that business conditions slumped in October to their lowest point since May 2009, weighed down by subdued wholesale and manufacturing sectors. A BankWest survey finding that small businesses remain pessimistic about trading conditions, with concerns about the Chinese and European economies and the high Australian dollar hurting confidence Former Labor government Treasury secretary Tony Cole saying it is “inevitable” that a future government will extend the goods and services tax into areas such as health, education and fresh food and lift its 10 per cent rate National Australia Bank (NAB) paying $85 million in a settlement of a class action relating to its heavy losses over toxic subprime home loans in the United States. The demand for home loans growing in September, broadly in line with expectations, according to the Australian Bureau of Statistics. ABS data showed the number of home loans granted in September rose a seasonally adjusted 0.9 per cent to 46,395. Analysts were expecting the figures to show a one per cent increase in loans for the month. Also, a lift for commercial finance. Mining giant BHP Billiton Ltd being given until 2016 to go ahead with the expansion at the Olympic Dam mine in South Australia. Chemicals manufacturer Orica Ltd's annual profit falling by 37 per cent. Orica's net profit in the 12 months to September 30 was $402.8 million, down from $642 million in the previous corresponding period. Shares in insurance giant QBE Insurance Group Ltd crashing after the group said it expects its losses from superstorm Sandy in the United States to be up to $US450 million ($A434.85 million) Lend Lease getting sued in a federal court in New York over the collapse of a construction crane during superstorm Sandy.