1 00:00:03,800 --> 00:00:06,560 Speaker 1: It's Wednesday, the twenty eighth of August twenty twenty four. 2 00:00:06,760 --> 00:00:09,479 Speaker 1: Welcome to the Fast five Business News Boy, Fear and Greed, 3 00:00:09,680 --> 00:00:11,559 Speaker 1: where we give you the top five business stories you 4 00:00:11,640 --> 00:00:14,040 Speaker 1: need to know when just five minutes. I'm Michael Thompson 5 00:00:14,080 --> 00:00:15,280 Speaker 1: and good morning Sean. 6 00:00:15,000 --> 00:00:17,400 Speaker 2: Aylmer, Good morning, Michael Shawn. 7 00:00:17,520 --> 00:00:18,680 Speaker 1: Five stories, five minutes. 8 00:00:18,720 --> 00:00:19,040 Speaker 2: Let's go. 9 00:00:19,120 --> 00:00:21,720 Speaker 1: Story number one. BHP appears to be on the hunt 10 00:00:21,760 --> 00:00:25,919 Speaker 1: for acquisitions after posting a fourteen billion US dollar or 11 00:00:26,000 --> 00:00:28,920 Speaker 1: twenty billion Aussie dollar underlying profit for the twenty twenty 12 00:00:28,920 --> 00:00:31,440 Speaker 1: four financial year but cutting dividends. 13 00:00:31,560 --> 00:00:33,479 Speaker 2: The result was slightly better than expected, and the big 14 00:00:33,520 --> 00:00:36,080 Speaker 2: Australian share price jumped more than one percent yesterday. The 15 00:00:36,080 --> 00:00:38,960 Speaker 2: bottom line, or net profit came in almost forty percent 16 00:00:39,040 --> 00:00:42,600 Speaker 2: lower at about eight billion dollars, and included several impairments, 17 00:00:42,640 --> 00:00:45,479 Speaker 2: including the group's Australian nickel minds. It's the third year 18 00:00:45,520 --> 00:00:47,760 Speaker 2: in a row where BHP's dividend has come in lower, 19 00:00:47,800 --> 00:00:51,199 Speaker 2: with a dividend payout ratio of just fifty four percent. 20 00:00:51,479 --> 00:00:53,880 Speaker 2: BHP is the world's biggest minor, and when you're talking 21 00:00:53,920 --> 00:00:56,120 Speaker 2: about it, the numbers are huge. The company expects to 22 00:00:56,120 --> 00:00:59,319 Speaker 2: spend about ten billion US this financial year on its 23 00:00:59,320 --> 00:01:02,840 Speaker 2: Canadians and potash project. Last year, it paid almost ten 24 00:01:03,000 --> 00:01:06,080 Speaker 2: billion OSSIE for oz minerals. Last month more than three 25 00:01:06,120 --> 00:01:09,520 Speaker 2: billion dollars buying Argentinian copper assets. It also failed to 26 00:01:09,520 --> 00:01:12,440 Speaker 2: buy Anglo American It was prepared to pay about seventy 27 00:01:12,440 --> 00:01:15,520 Speaker 2: five billion dollars for that one. While BHP has its 28 00:01:15,560 --> 00:01:18,200 Speaker 2: digger in many commodities, there was a notable increase in 29 00:01:18,200 --> 00:01:20,800 Speaker 2: copper earnings. For example, it's iron ore that is a 30 00:01:20,800 --> 00:01:24,000 Speaker 2: big money spinner. It provided seventy one percent of underlying 31 00:01:24,040 --> 00:01:25,240 Speaker 2: earnings last year. 32 00:01:25,560 --> 00:01:28,400 Speaker 1: Shan BHP has cut the dividend, meaning it has cash 33 00:01:28,440 --> 00:01:30,840 Speaker 1: on hand, where's it likely to spend it. 34 00:01:31,280 --> 00:01:33,279 Speaker 2: Iron Ore is still a major focus and the company 35 00:01:33,319 --> 00:01:35,960 Speaker 2: is pushing ahead with its plans to grow exports from 36 00:01:36,000 --> 00:01:38,400 Speaker 2: Western Australia to more than three hundred million tons a year. 37 00:01:38,680 --> 00:01:41,360 Speaker 2: The chief executive, Mike Henry, yesterday said the primary growth 38 00:01:41,400 --> 00:01:44,959 Speaker 2: commodities for BHP are potash and copper. It's become much 39 00:01:45,000 --> 00:01:47,319 Speaker 2: less enthusiastic about nickel and believes there will be a 40 00:01:47,440 --> 00:01:50,600 Speaker 2: multi year over supply of the commodity. Analysts expect copper 41 00:01:50,640 --> 00:01:53,040 Speaker 2: to be the main game for BHP, particularly since it 42 00:01:53,120 --> 00:01:56,560 Speaker 2: didn't get its hands on Anglo American's copper assets. Kapital 43 00:01:56,600 --> 00:01:59,560 Speaker 2: spending on copper is much higher than iron ore. For example, 44 00:02:00,000 --> 00:02:02,520 Speaker 2: to Henry yesterday spoke about the HP's copper options in 45 00:02:02,560 --> 00:02:03,960 Speaker 2: Australia and South America. 46 00:02:04,400 --> 00:02:06,360 Speaker 1: All right, moving on to story number two now, the 47 00:02:06,440 --> 00:02:10,400 Speaker 1: Albanesi government has cut international student numbers and will permit 48 00:02:10,760 --> 00:02:13,720 Speaker 1: two hundred and seventy thousand new students next year. 49 00:02:14,000 --> 00:02:17,480 Speaker 2: Federal Education Minister Jason Clare announced the controversial cap on 50 00:02:17,600 --> 00:02:22,040 Speaker 2: foreign student enrollments yesterday. Publicly funded universities will be allowed 51 00:02:22,040 --> 00:02:24,760 Speaker 2: to enroll one hundred and forty five thousand new international 52 00:02:24,800 --> 00:02:27,400 Speaker 2: students next year, about fifteen percent more than last year. 53 00:02:27,600 --> 00:02:31,200 Speaker 2: According to report in the Australian Vocational Training colleges will 54 00:02:31,200 --> 00:02:33,800 Speaker 2: only be given a quota of ninety five thousand new students. 55 00:02:33,880 --> 00:02:38,639 Speaker 2: Non university higher education providers can recruit about thirty thousand students. 56 00:02:38,760 --> 00:02:42,160 Speaker 2: Mister Claire said universities would be allowed fifteen percent more 57 00:02:42,160 --> 00:02:47,120 Speaker 2: international students than they enrolled in twenty nineteen before the pandemic. 58 00:02:47,320 --> 00:02:50,000 Speaker 2: The total number of newly enrolled international students will be 59 00:02:50,040 --> 00:02:54,160 Speaker 2: seven thousand less next year than in twenty nineteen, which 60 00:02:54,160 --> 00:02:56,320 Speaker 2: of course was pre pandemic Shawn. 61 00:02:56,360 --> 00:02:59,320 Speaker 1: Story number three. Huge rallies were held across the country 62 00:02:59,360 --> 00:03:03,440 Speaker 1: yesterday in support of the CFMEU and against the government 63 00:03:03,480 --> 00:03:05,320 Speaker 1: appointed administrator of the union. 64 00:03:05,600 --> 00:03:07,679 Speaker 2: The federal government last week passed a bill giving it 65 00:03:07,760 --> 00:03:09,880 Speaker 2: powers to force the union, which has been dogged by 66 00:03:09,919 --> 00:03:13,880 Speaker 2: allegations of widespread crush and links to organized crime, into administration. 67 00:03:14,400 --> 00:03:16,720 Speaker 2: That's after its secure to deal with the coalition. Tens 68 00:03:16,760 --> 00:03:20,359 Speaker 2: of thousands of construction workers protested in Melbourne outside Trades 69 00:03:20,400 --> 00:03:23,639 Speaker 2: Hall Council. There there are tens of thousands in Sydney. 70 00:03:24,240 --> 00:03:28,960 Speaker 2: Protesters labeled the Albanesi government as fascists led by alber Nazi, 71 00:03:29,240 --> 00:03:33,520 Speaker 2: ousted CFMEU New South Wales Secretary Darren Greenfield attacked the 72 00:03:33,560 --> 00:03:38,040 Speaker 2: ACTU Secretary Sally McManus, accusing her of treachery and selling 73 00:03:38,040 --> 00:03:40,880 Speaker 2: the union out. There were protests in Queensland and the 74 00:03:40,960 --> 00:03:45,000 Speaker 2: act Prime Minister Anthony Alberizi. He responded warning that there 75 00:03:45,040 --> 00:03:48,400 Speaker 2: will be consequences if people walked off the job to 76 00:03:48,440 --> 00:03:51,320 Speaker 2: be part of the pro CFMEU protests. 77 00:03:51,840 --> 00:03:54,920 Speaker 1: Story number four the cost of living crisis. Sean is 78 00:03:55,000 --> 00:03:58,840 Speaker 1: helping Cohles achieve higher sales and earnings, but within the supermarket, 79 00:03:58,920 --> 00:04:01,200 Speaker 1: shoppers are looking for bar dagons sure are. 80 00:04:01,200 --> 00:04:03,320 Speaker 2: In fact, ninety percent of Coal's shopers are changing their 81 00:04:03,360 --> 00:04:07,600 Speaker 2: purchasing habits, and cheaper private label groceries are selling well. 82 00:04:07,840 --> 00:04:10,200 Speaker 2: There's also a drop in red meat consumption, prompting a 83 00:04:10,240 --> 00:04:14,040 Speaker 2: new phenomenon called meat free Monday. Shoppers are holding back 84 00:04:14,080 --> 00:04:16,799 Speaker 2: on the booz. Sales at First Choice in vintage sellers 85 00:04:16,800 --> 00:04:20,040 Speaker 2: liquor out let's continue to struggle. Cole's Chief executive Leah 86 00:04:20,040 --> 00:04:22,839 Speaker 2: Wekett said customers are reading more at home and favoring 87 00:04:22,880 --> 00:04:26,520 Speaker 2: promotional products and leyalty programs. Inflation is easy, that's good news, 88 00:04:26,520 --> 00:04:28,880 Speaker 2: but it hasn't gone Meat and bread prices have come down, 89 00:04:29,080 --> 00:04:32,400 Speaker 2: as have prices of avocados and apples, but things like 90 00:04:32,440 --> 00:04:35,560 Speaker 2: bananas and tomatoes are more expensive and bad news. Michael, 91 00:04:35,839 --> 00:04:37,560 Speaker 2: Chocolate prices are about to go up. 92 00:04:37,839 --> 00:04:40,679 Speaker 1: Oh dear all right. Last one story number five Sean 93 00:04:41,040 --> 00:04:44,520 Speaker 1: The first earnings result of Mexican themed fast food chain 94 00:04:44,600 --> 00:04:48,159 Speaker 1: Guzmani Gomez as an ASX listed company, came in about 95 00:04:48,200 --> 00:04:51,440 Speaker 1: as expected, with same store sales growth for the first 96 00:04:51,480 --> 00:04:53,920 Speaker 1: seven weeks of this fiscal year above expectations. 97 00:04:54,400 --> 00:04:57,200 Speaker 2: CO Chief executive Stephen Mark said there had been strong 98 00:04:57,279 --> 00:04:59,919 Speaker 2: demand for value offerings such as the twelve dollars chicken 99 00:05:00,120 --> 00:05:02,480 Speaker 2: mini meal. Along with the rise in the breakfast category, 100 00:05:02,560 --> 00:05:04,440 Speaker 2: is more people headed to stores earlier in the day. 101 00:05:04,680 --> 00:05:08,360 Speaker 2: The eight dollar breakfast burrito, bacon, chicken, Terresa, scrambled eggs, 102 00:05:08,400 --> 00:05:11,440 Speaker 2: hash Browns sounds pretty good. It's growing in popularity with 103 00:05:11,520 --> 00:05:15,040 Speaker 2: customers such as tradees that drive through outlets our busiest 104 00:05:15,040 --> 00:05:17,840 Speaker 2: at that six am to eight am period. Goodsman's share 105 00:05:17,880 --> 00:05:20,760 Speaker 2: price rose three percent yesterday. It's nearly seventy percent higher 106 00:05:20,800 --> 00:05:22,719 Speaker 2: than it's listing price back in June. 107 00:05:22,839 --> 00:05:24,440 Speaker 1: All right, there we go to the top five business 108 00:05:24,440 --> 00:05:25,520 Speaker 1: stories in five minutes. 109 00:05:25,600 --> 00:05:27,280 Speaker 2: Thank you Sean, Thank you Michael. 110 00:05:27,600 --> 00:05:30,120 Speaker 1: It's Wednesday, the twenty eighth of August twenty twenty four. 111 00:05:30,240 --> 00:05:32,680 Speaker 1: Remember the hit follow on the podcast and if five 112 00:05:32,680 --> 00:05:34,960 Speaker 1: minutes isn't enough, you can find our longer daily show 113 00:05:35,040 --> 00:05:37,960 Speaker 1: called Fear and Greed wherever you listen to. Podcasts are 114 00:05:37,960 --> 00:05:40,120 Speaker 1: Michael Thompson. And that was the fast five business news 115 00:05:40,160 --> 00:05:42,240 Speaker 1: by Fear and Greed. Have a great day.