Paul Solomon, co-CEO of Moose Toys - Economist Stephen Koukoulas - Talking Business 2012 - Ep38

Summary: Interview with Paul Solomon, co-CEO of Moose Toys Interview with economist Stephen Koukoulas Leon and Garry discuss issues including: The OECD warning The world faces a "dangerous" cocktail of low growth and high unemployment. At the same time, The European Union has won the Nobel Peace Prize for its efforts to promote peace and democracy in Europe - an award given even though the bloc is struggling with its biggest crisis since it was created in the 1950s. But there are signs of a recovery in the US with US consumer sentiment unexpectedly rising to its highest in five years and US retail sales rising sharply in September, reflecting higher consumer confidence and improvement in the job market. Meanwhile, Chinese inflation is starting to fall ANZ Banking Group Ltd cutting its standard variable mortgage rate by a 20 basis points, failing to pass on the Reserve Bank of Australia's 25 basis points reduction. ANZ was the last of the big four to respond to the RBA's decision. The RBA set to cut rates further with economists tipping they could go as low as 2 per cent. The median wealth of Australians continuing to be the highest in the world but Queensland has the nation's widest gap between the poor and not-so-poor, according to a new comprehensive study of poverty in Australia. Sales of new motor vehicles in Australia rising in the month of September, beating analyst expectations, according to data from the Australian Bureau of Statistics. Demand for home loans grows and housing affordability is Australia is at its best levels across most capital cities since the first half of the last decade US private equity fund TPG walking away from a $695 million takeover proposal of Billabong. The Nine Network staving off administration, with lenders agreeing on a debt-for-equity deal where two US hedge funds and investment bank Goldman Sachs will take a stake in the broadcaster. The lenders have reached an agreement on the $3.3 billion debt Prime Minister Julia Gillard vowing to press ahead with negotiations to allow uranium sales to India despite fresh concerns about the safety of the country's civil nuclear program. Workplace Relations Minister Bill Shorten offering limited relief to business by announcing changes to the nation's unfair dismissal laws but more significant industrial relations reforms are likely to be delayed until next year. Australia losing ground against Asian competitors in its plan to build a financial services hub, Sydney's global ranking as a financial services centre has fallen to 15th – a decline of six places in five years Fortescue planning to restart its Kings mine expansion plans after the extension of its credit facility. Australia Post planning to spend over $2 billion in a bid to transform its national logistics network and create a universal digital platform to deliver the modern communication services. Australian building giant Lend Lease facing the prospect of being banned from billions of dollars of Victorian government work after signing a sweetheart deal with a powerful construction union.