Summary: Interview with Nicole Kersh from Australian IT retailer 4Cabling Interview with economist Saul Eslake Leon and Garry discuss issues including: · Unemployment in Europe hitting a record high in April of 19.38 million while the International Monetary Fund lowers its forecast for German growth this year · Growth in China's non-manufacturing economy slowing in May · The US trade deficit growing in April and US manufacturing activity contracting · Australia's manufacturing sector extending declines for the 23rd consecutive month in May · The Australian economy expanding less than expected in the March quarter · A PricewaterhouseCoopers report warning that the global mining outlook is deeply troubled as profits decline and cost pressures increase. · The Reserve Bank of Australia leaving the official cash rate on hold at an all-time low, in line with analyst expectations but a senior Westpac Banking Corp executive foreshadows two further 0.25 percentage point interest rate cuts · Moody’s considering downgrading its credit ratings on subordinated debt issued by the Australian banks, · Australia's trade deficit narrowing in the March quarter more sharply than analysts expected, falling by $6.249 billion · The TD Securities Melbourne Institute Monthly Inflation Gauge increasing by 0.2 per cent in May, putting annual inflation at 2.2 per cent. · The value of houses across Australia’s capital cities falling 1.2 per cent in May on the back of lower consumer confidence, according to RP Data-Rismark. · Company gross profits rising in the March quarter more sharply than analyst expectations, according to the Australian Bureau of Statistics. · Australian retail spending growing 0.2 per cent to a seasonally adjusted $21.888 billion in the month. · ANZ’s job advertisements series showing the number of ads fell 2.4 per cent in May, seasonally adjusted - the third straight month of decline. · Dun and Bradstreet's National Business Expectations Survey finding more businesses plan to raise their prices compared to the previous quarter. · Australia’s low-paid workers to receive a $15.80-a-week pay rise from July 1 · National Australia Bank offering its 43,000 staff paid domestic violence leave in a move that campaigners hope will encourage other large private employers to follow suit. · Echo Entertainment chief John Redmond promising to invest more than $1 billion to protect his casino monopoly in Sydney and crush James Packer’s bid to build a six-star hotel and invitation-only casino in Barangaroo. · Coles planning to carve out savings worth hundreds of millions of dollars and dramatically cut Australia's 20,000 strong army of independent grocery agents if it proceeds with a radical plan to shake up the way fees are charged to the food manufacturing sector · International cricket coverage staying on the Nine Network despite an audacious pitch from rival Ten to secure the TV broadcast rights. Cricket Australia has signed a deal with Nine Entertainment Co after the network matched Ten’s offer for the international cricket media rights. · The Nationals pushing the Foreign Investment Review Board to scrutinise US grains giant Archer Daniels Midland's $3.4 billion takeover bid for GrainCorp · Sales at Cochlear slowing · Virgin Australia targeting Italy · Superannuation giants VicSuper and Vision Super terminate merger talks
