KBB Morning Snapshot

April 5, 2012, 9:44 am Kochie's Business Builders Yahoo!7

Concern grows over budget surplus ~ Rinehart's son in materials competition ~ China world's biggest grocery market ~ Struggling retailers hope for Easter gains

KBB Morning Snapshot

- More people are speaking up against the worrying moves of the federal government as it pursues a budget surplus at any cost.

Business Council of Australia president Tony Shepherd has joined the chorus warning that, while they support a budget surplus, it should not come at the cost of productivity. "We have to be careful that in achieving the surplus we don't kill the goose that laid the golden egg".

- The apple falls a little further from the tree sometimes. Gina Rinehart's son John Hancock is at the helm of a business developing an innovative new building product which will seek to ultimately replace brick and steel.

Despite his mother's fortune being made from iron ore, a key ingredient in steel, Hancock is looking to take over with a greener material for cost-effective house construction.

- China has trumped the US in another statistic pointing towards the country's growing economic status. It is now the world's biggest market for grocery shopping. It's a rapidly growing sector which will reach $1.54 Trillion in the next 3 years.

- Retailers struggling despite a healthy economy are looking to this Easter long weekend for a bit of respite, hoping to open for extended hours and hold a host of bargains to lure shoppers.

A possible extra of $150 Million could go into NSW businesses, with almost the same amount going into Victorian businesses last year from the same tactic.

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