The Biz: Wrap of the weekly business news

WANT to hold your own during a pub conversation? We've wrapped up the weekly business news into one handy package, without the boring bits.

This week, the job market was a hot topic of conversation, with ANZ's monthly job survey confirming less companies were hiring in June, as the number of job ads dropped 2 per cent over the month.

It was backed up later in the week with the official unemployment rate, which rose to 5.7 per cent, adding nearly 24,000 people to the dole queue.

If you are looking for work, Monday morning is the most popular time, with applications spiking 17 per cent spike before 9am, according to technology company Express.

Economic confidence also took a hit, despite KRudd's blistering return to office, with the NAB business confidence survey slumping to a four-year low and the IMF downgrading global growth forecasts from 3.3 to 3.1 per cent.

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The number of new jobs advertised in Australia was down nearly 2 per cent, with unemployment rising to 5.7 per cent. Source: Supplied

The US Dow Jones and S&P 500 surged as traders continued to hang on the every word of Federal Reserve chairman Ben Bernanke, who said he wouldn't withdraw stimulus measures ... yet.

The Aussie dollar is hovering around 91-92 US cents, with speculation petrol prices could rise to $1.70 per litre in the coming months.

In company news, Steggles was slammed by the ACCC for claiming their chickens were "free to roam," though neglecting to mention that was only within the confines of an A4 sheet of paper.

Holden held out its hat, asking for $265 million to keep manufacturing in Australia. Luckily, Clive Palmer came up with the brilliant plan to merge the big car manufacturers. Can't wait to drive my new Toyforden.

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Are you stuck in a prestige job you hate? You might be a work snob. Source: Supplied

Overseas, Apple was slammed by a US court for price fixing their e-books despite CEO Tim Cook saying they had done nothing wrong.

Microsoft will restructure its huge workforce to be more nimble and compete with Apple and Google, while Target is being sued by three Hispanic employees for issuing a memo that no, they don't all eat tacos and wear sombreros.

Our most talked about story was UK dad Ben Hatch, who admits he may well be the stingiest man in the UK, with tricks like strapping baguettes to the legs of his children and smuggling ham in their shoes to avoid overpriced grub at Disneyland.

We also looked at whether it's better to climb the corporate ladder or do things your own way, after comments from an Ogilvy exec that those with top class degrees are often "weirdos."

The magazine cover that had everyone talking was this doozy from Businessweek. Hmmm.

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The Businessweek cover that had everyone talking. Source: Twitter. Source: Supplied

If you can't face another week stuck behind the desk, check out our day in the life of real life cowboy, as Stockman's Hall of Fame CEO Ben Magurie tells us about working from the saddle.

And if you want to do a bit of activism this weekend, try urging your local shops to join an Australian Retailers Association initiative that will urge retailers to ensure end-to-end ethics right through the supply chain. It comes following the Bangladesh factory collapse in April and a report this week that sandblasting is still being used to create distressed denim, despite major brands like Levi Strauss banning the practice.

Now that you're clued up on the week's business secrets, make sure you watch the Sharknado trailer. That's sure to come up in pub conversation too.

Read more: http://www.news.com.au/business/markets/the-biz-wrap-of-the-weekly-business-news/story-e6frfm30-1226678430782#ixzz2YwdSVjJx