Summary: Interview with Dan Flynn, founder of Thank You Water Interview with RMIT economist Sinclair Davidson on Tony Abbott’s Budget In Reply Speech Leon and Garry discuss issues including: · US Federal Reserve chairman Ben Bernanke telling Congress that it is too soon to end the central bank's monetary stimulus programme or raise interest rates. · The Bank of Japan holding off introducing new easing measures · Indian and Chinese premiers papering over differences at a meeting in New Delhi, pledging to tackle a border dispute and pledging to work together for global stability and build trade connections · The Reserve Bank of Australia flagging further rate cuts, saying it had used "some of the scope to ease policy" when it slashed the cash rate to a record low of 2.75 per cent this month · Australia’s commodities forecaster signalling the nation faces a sharp decline in major investments back to 2007 levels · Treasury secretary Martin Parkinson conceding his department has struggled to keep pace with a ‘‘tumultuous’’ decade for the Australian economy but backing his department's budget forecasts · An Australian Chamber of Commerce and Industry survey finding that small businesses are still facing fragile conditions and there is nothing in the federal budget to lift confidence · The opposition reportedly planning a double-dissolution election within five months of taking office if it is blocked from repealing the carbon tax. · The Commonwealth Bank's Business Sales Indicator (BSI) finding that prospects for Australian businesses are looking healthier with spending rising 0.5 per cent in trend terms in April. · A Brand Finance study finding that the high Australian dollar and the consumer's attraction to online shopping have seen big-name retailers David Jones, Myer and Harvey Norman lose millions in brand value · Virgin Group looking to push into the $65 billion Australian healthcare sector, as well as expand its fitness centre network locally and in Asia to ramp up its global health and wellness presence. · The Australian Workers Union (AWU) and the Construction Forestry Mining and Energy Union (CFMEU) signing an agreement to attempt to start re-unionising Rio Tinto’s iron ore operations. · Metcash acquiring the assets and operations of Australian Truck and Auto Parts Group for $84 million, as part of its expansion into the hardware and automotive sectors · NSW based fertility services business, Virtus eyeing an expansion into Asia and mulling local acquisitions as it prepares for its initial public offering next June · Suncorp Group looking to sell most of its "non-core bank" four years after it was established, to free up capital and possibly deliver investors another special dividend · Cattle producer Australian Agricultural Company Ld (AACo) has sold three grazing properties in Central Queensland to Comet Downs Cattle Company for $23 million. · Leighton Holdings Ltd appointing five new directors before July, following a string of executive resignations and flagging an expansion into Asia. · Profit and earnings downgrade announcements from Elders, Ruralco, Tiger Airways, Boart Longyear and Transfield · Chant West saying super savers are well on the way to having the best year's returns in six years Key words: Bernanke, Japan, India, China, Reserve Bank of Australia, interest rate cuts, Treasury Secretary Martin Parkinson, Federal budget, small business, double dissolution, carbon tax, spending
