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FRIDAY 18TH MARCH 2011
Global Energy Predictions
2011 - the fog is lifting over
the global economy and
recovery is underway
The 2011 global Energy Predictions for the energy &
resources sector today announced the fog is lifting
over the global economy and highlights a recovery
is clearly underway to meet the insatiable demand
for energy within Australia and by countries such as
China, the United States, Brazil, India and Russia.
The global predictions for the year ahead show
that other markets are showing signs of recovery
and there is no significant economy that remains
mired in recession. Recent bearish economic
indicators notwithstanding, oil prices are pushing
upward, testing the upper limits of the US$105/per
barrel range. Oil’s price range and the strength and
sustainability of the recovery, illustrates the measure
of the global and unified economic recovery which
saw prices spike after the Middle East unrest.
Flooding rains to lengthen retail drought
According to Deloitte, the latest retail data confirms that Christmas 2010 was a poor one
for retailers, failing to give the sector the spark it was desperately hoping for. Retail sales
continue to grow at a sub-trend pace with consumers cautious about their spending.
Real retail sales growth over the year to December 2010 has come in at just 1.1%.
Within that total, food retailing in particular is struggling with sales falling over
the past year – the sector’s worst performance since the late 1980s. Non-food
retailing is not faring a lot better as consumers use the opportunity to pay down
their debts from boosts to income.
A key culprit is interest rates, which have now risen considerably from their
emergency lows, taking away a chunk of disposable income. Another factor is that
Australians are now on a savings bender. Scarred by the GFC, Australians are now
a lot more cautious, with a large proportion of the boost to national income being
saved instead of spent. Hence retail spending has been lacklustre at a time when
income growth has been strong.
The World Economic Forum (WEF) has announced
its Young Global Leaders (YGLs) for 2011 with
Adelaide based partner from professional services
firm Deloitte, David Hill, selected as one of only six
young leaders chosen from Australia.
The WEF recognises and acknowledges up to
200 outstanding young leaders from around the
world for their professional accomplishments,
commitment to society and potential to contribute
to shaping the future of the world.
For 2011, the Forum has chosen 190 Young Global
Leaders from 65 countries and all stakeholders of
society (business, civil society, social entrepreneurs,
politics and government, arts and culture, and
opinion and media).
Deloitte CEO, Mr Giam Swiegers is delighted with
the appointment of David Hill who works for
Deloitte in Adelaide.
“David’s appointment demonstrates his
outstanding ability and capability to be a key
shaper in the business environment across all
geographies. This accolade will position David as a
committed business person trying to improve and
make a difference in the broader global community.
“ The partners across Deloitte are delighted he has
been selected as one of the outstanding young
leaders to contribute to work collectively for a
better future” said Mr Swiegers.
David Hill has worked with Deloitte for 16 years
and has been a partner in the Corporate Finance
area, concentrating on mergers and acquisitions,
capital raising, management buy outs and initial
public offerings. At 28, David became the youngest
Partner in the history of Deloitte Australia and the
youngest Partner of Deloitte worldwide at the time.
“I am delighted to be selected as a Young Global
Leader for WEF. I look forward, with eager
anticipation, to meeting and working with the
other honourees, and to be inspired by their
contributions to society.
“I am going to be learning a great deal from their
combined extraordinary experiences. It’s a privilege
to be in the company of so many who have made a
difference to the world already,” said Mr Hill.
Drawn from a pool of almost 5,000 candidates,
the Young Global Leaders 2011 were chosen by a
selection committee, chaired by H.M. Queen Rania
Al Abdullah of the Hashemite Kingdom of Jordan
and comprised of respected international leaders
from business, government and media.
Deloitte partner selected for
World Economic Forum’s
Young Global Leaders 2011
CLICK HERE TO READ THE FULL INTERVIEW.
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David Hill, Partner
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