Talking Business with Leon Gettler Leon Gettler

Australia’s inflation comes in higher than expected at 3.6%. Service inflation is the main culprit holding back progress. Insurance premiums jumped by their most in 23 years, rents grew at their fastest annual pace face in 15 years, and education fees saw their largest quarterly rise in 12 years. You can forget about a rate cut this year!
Australia will cut the growth outlook for most major economies, including key trading partner China, when it releases its budget next month.
 
Free-to-air broadcasters are preparing for a furious lobbying effort to change proposed laws that put at risk one of their crucial sources of revenue, live sport, as new figures show young viewers have all but switched off their networks.
 
Major supermarkets are accused of confusing and potentially misleading consumers with promotional labels which do not always reflect genuine discounts as Australians continue to struggle with the rising cost of groceries.
 
The federal government’s eSafety commissioner won an emergency injunction in the Federal Court late Monday to force Elon Musk’s X to remove videos of last week’s Sydney terrorist attack after the billionaire mocked earlier take-down demands.
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Tesla is slashing headcount by more than 10%, or 140,000 jobs, as part of a global retrenchment extending all the way into its executive ranks as the carmaker struggles with slowing demand for electric vehicles.
Outgoing Woolworths boss Brad Banducci was threatened with six months in jail for contempt of the Senate after he refused to directly answer questions about a profit metric, in a fiery Greens-led Senate hearing that went off the rails on Tuesday. Greens are accused of grandstanding instead of focusing on cost of living.
Leading defamation lawyers and academics say Bruce Lehrmann’s spectacular defamation defeat will make high-profile litigants think twice before rushing to court to redeem their reputations.
Star Entertainment’s chairman and former chief executive privately schemed to wage war on the casino regulator and considered engaging shareholders in a class action against a NSW government-appointed manager.
Major Australian media companies reeling from the prospect of losing $300 million in advertising revenue from a government crackdown on gambling advertising now face an even more expensive blow from a possible ban on junk food ads.
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 In an important report, the IMF has found Australian households are more sensitive to changes in interest rates than virtually any other consumers globally because of the dominance of variable-rate mortgages, high levels of household debt and lax lending rules.
The Albanese government will push insurers to cut costs for households that take steps to reduce their risks amid soaring double-digit premium growth that is expected to continue in 2024.
Craig Emerson's interim report into the behaviour of big supermarkets recommends massive fines for those who abuse their buying power to unfairly treat farmgate suppliers.
 
Seven’s investigative program, Spotlight, will make its return on Sunday April 14. That’s despite concerns the fact the ­beleaguered current affairs show could be hit by a public backlash over scandalous claims that emerged about the network last week.
The head of Mayfair, James Mawhinney, who has been charged with four counts of engaging in dishonest conduct, faces a lengthy time in jail.
 
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In an extraordinary development in the Lehmann vs Ten defamation case, a former producer on Seven’s Spotlight program besmirched Bruce Lehrmann’s credibility by alleging he had received perks totalling tens of thousands of dollars including a $361 steak and reimbursement for the cost of sex workers and illicit drugs before he signed an exclusive interview deal with the network.
Paula Hitchcock says she regularly attended the billionaire Pratt family’s weekly Shabbat at the invitation of her biological ­father, Richard Pratt, and his wife Jeanne.
The Australian economy is in the middle of a “perfect storm” with insolvencies rising to an almost decade high last month as businesses struggle with crushing debt and a shortage of cash.
One of Australia’s top green energy superpower advocates says it is unclear whether the nation has a comparative advantage in the solar panel industry that the Albanese government is propping up with $1 billion of support, including in regions facing the likely loss of thousands of coal-fired power station workers, some earning up to $170,000.
British Formula One racing team McLaren has teamed up with the Great Barrier Reef Foundation to help accelerate the restoration of coral on one of Australia’s biggest tourism drawcards.
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In an extraordinary development in the Lehmann vs Ten defamation case, a former producer on Seven’s Spotlight program besmirched Bruce Lehrmann’s credibility by alleging he had received perks totalling tens of thousands of dollars including a $361 steak and reimbursement for the cost of sex workers and illicit drugs before he signed an exclusive interview deal with the network.
Paula Hitchcock says she regularly attended the billionaire Pratt family’s weekly Shabbat at the invitation of her biological ­father, Richard Pratt, and his wife Jeanne.
The Australian economy is in the middle of a “perfect storm” with insolvencies rising to an almost decade high last month as businesses struggle with crushing debt and a shortage of cash.
One of Australia’s top green energy superpower advocates says it is unclear whether the nation has a comparative advantage in the solar panel industry that the Albanese government is propping up with $1 billion of support, including in regions facing the likely loss of thousands of coal-fired power station workers, some earning up to $170,000.
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British Formula One racing team McLaren has teamed up with the Great Barrier Reef Foundation to help accelerate the restoration of coral on one of Australia’s biggest tourism drawcards.
        

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Data from research firms show the number of people using X daily is falling, more than a year after tech billionaire Elon Musk bought the app formerly known as Twitter. 
Australian unions will push for a 5% increase to the minimum wage for more than 2.9 million workers, while employers will demand a major pay slowdown to offset record increases that “overcompensated” for inflation.
Jacqui Lambie will demand the Liberals agree to boost transparency in Tasmania’s political system, and rethink plans for a $715 million AFL stadium in Hobart, in exchange for a deal to return Premier Jeremy Rockliff to power.
Peter Dutton has committed the Coalition to develop laws that could extend to forcibly breaking up Coles and Woolworths. Basically, he has stopped the Nationals working with the Greens to rein in supermarket power, telling Coalition MPs that the Coalition will not use the Greens for economic leadership.
Despite worsening affordability, rising cost of living and rate hikes, CoreLogic data shows that property prices rose 8.9% in February driving up the cost of rent way over inflation, thanks to the undersupply of housing and high migration.    
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