Chief executive of the Chartered Institute of Purchasing and Supply, David Noble - RMIT economist Sinclair Davidson - Talking Business 2012 - Ep41

Summary: Interview with David Noble, chief executive of the Chartered Institute of Purchasing and Supply Interview with RMIT economist Sinclair Davidson Leon and Garry discuss issues including: Spain's new 'bad bank' paying steep discounts for toxic loans and assets weighing on the stricken financial system while Spain's Prime Minister Mariano Rajoy says his debt-laden economy has no need of a European bailout, after holding a summit with Italy. Greece meanwhile reaches agreement with its international creditors on new austerity measures necessary to release fresh bailout funds and Britain finally breaks out of its double-dip recession in the third quarter with its strongest three-month period of economic growth since before the 2008 global financial crisis US stock markets closed for two days over Hurricane Sandy but US growth picks up two per cent and US consumer spending increases 0.8 per cent The Gillard Government unveils its Asian blueprint with Asian studies to become a core part of Australia's school curriculum under the federal government's ambitious plan to capitalise on the region's growing wealth and influence. It calls for gains in economic productivity to lift Australia into the top 10 nations by per capita GDP, up from 13th place in 2011 and says a third of all board members at top Australian companies should have "deep" Asian experience to maximise opportunities in the region. The blueprint is criticised by business leaders who say it will prove either too costly or a hindrance to business growth. Poll showing that only a quarter of Australian voters believe the federal Labor government will be able to deliver on its promise to return the budget to surplus before the next election. NAB posting cash earnings of $5.4 billion, a fall of 0.5 per cent on the previous corresponding period. New home sales falling to an 18-year low in September, highlighting a persistent lack of confidence in the sector, according to the Housing Industry Association The latest Global Ambition survey revealing that foreign investment in Australia is being inhibited by its strong dollar and perceptions about its attitude to offshore investment The Reserve Bank of Australia moving to limit the growth in the value of the Australian dollar, by allowing offshore purchases of the currency to be absorbed on its own balance sheet but saying that conditions are not right for it to intervene in currency markets to reduce the value of the Australian dollar Virgin Australia announcing deals that will change the landscape of the Australian aviation industry and provide serious competition to Qantas. The carrier has bought a 60 per cent stake in low cost airline Tiger Airways Australia for $35 million, and has struck an in-principle agreement to completely acquire Skywest Airlines. BHP Billiton slashing more than 150 million tonnes of annual iron ore production from its Pilbara iron ore expansion plans. Up to 1000 workers facing the chop after the company operating some of Australia's biggest discount chains collapses for the second time in four years and administrators are appointed to Retail Adventures.