1 00:00:03,840 --> 00:00:06,720 Speaker 1: It's Monday, the sixth of April twenty twenty six. Welcome 2 00:00:06,720 --> 00:00:08,920 Speaker 1: to the Fast five Business News by Fear and Greed, 3 00:00:08,920 --> 00:00:10,960 Speaker 1: where we give you the top five business stories you 4 00:00:11,000 --> 00:00:13,200 Speaker 1: need to know in just five minutes. I'm Michael Thompson 5 00:00:13,240 --> 00:00:14,560 Speaker 1: and good morning, Sean Aylmer. 6 00:00:15,080 --> 00:00:16,640 Speaker 2: Good morning Michael, Sean. 7 00:00:16,720 --> 00:00:19,319 Speaker 1: Five stories in five minutes with a closer focus on 8 00:00:19,360 --> 00:00:22,119 Speaker 1: what's happening here at home. After so much talk about 9 00:00:22,160 --> 00:00:25,239 Speaker 1: war and strife and everything, let's get into it. Story 10 00:00:25,320 --> 00:00:28,440 Speaker 1: number one, Sean. A crazy month of March has smashed 11 00:00:28,720 --> 00:00:31,200 Speaker 1: many local stocks on the share market, from gold stocks 12 00:00:31,240 --> 00:00:34,600 Speaker 1: to banks and retailers. But even the war couldn't stop 13 00:00:34,640 --> 00:00:37,080 Speaker 1: many miners from having a positive first quarter in twenty 14 00:00:37,080 --> 00:00:40,120 Speaker 1: twenty six, and over the past year, eighteen over the 15 00:00:40,120 --> 00:00:43,320 Speaker 1: top twenty five stocks on the ASX remained in positive territory. 16 00:00:43,840 --> 00:00:47,080 Speaker 1: How about this. BHP's share price got smashed nearly fourteen 17 00:00:47,120 --> 00:00:50,080 Speaker 1: percent last month, but for the quarter was still up 18 00:00:50,120 --> 00:00:53,240 Speaker 1: eleven percent and thirty percent for the full year. Rio 19 00:00:53,320 --> 00:00:55,720 Speaker 1: Tinto was down four percent last month, but in the 20 00:00:55,720 --> 00:00:57,680 Speaker 1: first three months of the year is up ten percent 21 00:00:57,720 --> 00:00:59,960 Speaker 1: and thirty eight percent for the past year. 22 00:01:00,600 --> 00:01:03,840 Speaker 2: The really big movers have been the gold stocks. Australia's 23 00:01:03,880 --> 00:01:08,120 Speaker 2: twentieth largest company, Northern Star, felt thirty three percent last month. 24 00:01:08,280 --> 00:01:10,920 Speaker 2: That is a plummet of course, on the back of 25 00:01:10,959 --> 00:01:13,240 Speaker 2: the price of gold falling, yet it's still up eleven 26 00:01:13,240 --> 00:01:15,480 Speaker 2: percent over the past year. Three of the four big 27 00:01:15,480 --> 00:01:18,320 Speaker 2: banks Westpac, National, Australia Bank and AAMS ed they've been 28 00:01:18,360 --> 00:01:21,040 Speaker 2: among the best performers of the largest twenty five stocks 29 00:01:21,040 --> 00:01:24,880 Speaker 2: over the past year. They were hammered last month now 30 00:01:24,920 --> 00:01:27,559 Speaker 2: Woodside and Santos. The big energy companies had a good month, 31 00:01:27,720 --> 00:01:30,280 Speaker 2: had a good quarter, had a good year. The so 32 00:01:30,480 --> 00:01:34,440 Speaker 2: called boring stocks, stable earning, stable cash flow, well, they 33 00:01:34,480 --> 00:01:36,720 Speaker 2: had a good month in March, which talk about Coles, 34 00:01:36,760 --> 00:01:39,119 Speaker 2: Woolies and Telstra here, but they've actually had a pretty 35 00:01:39,160 --> 00:01:42,400 Speaker 2: good twelve months. The companies who haven't had a good 36 00:01:42,480 --> 00:01:47,240 Speaker 2: March quarter or for that matter year, CSL, Aristocrat, Leisure 37 00:01:47,319 --> 00:01:47,840 Speaker 2: and Ria. 38 00:01:49,280 --> 00:01:51,440 Speaker 1: Over the past five week sean we've gone from talking 39 00:01:51,480 --> 00:01:56,040 Speaker 1: about interest rates driving markets to oil prices now driving markets. 40 00:01:56,120 --> 00:01:58,680 Speaker 1: We've already had two rate hikes this year, and there 41 00:01:58,760 --> 00:02:02,680 Speaker 1: is the real potential for more. Given that how important 42 00:02:02,720 --> 00:02:05,760 Speaker 1: are rates given everything else that's going on, how important 43 00:02:05,760 --> 00:02:06,720 Speaker 1: our rates now. 44 00:02:07,080 --> 00:02:09,560 Speaker 2: Well, I mean some companies like property companies. Goodman Group 45 00:02:09,600 --> 00:02:11,880 Speaker 2: for example, it's had a bit of a shocker twelve 46 00:02:11,919 --> 00:02:15,640 Speaker 2: percent down last month. Very heavily indebted, as all property 47 00:02:15,639 --> 00:02:18,840 Speaker 2: companies are, so rates really matter for that. The banks 48 00:02:18,840 --> 00:02:21,760 Speaker 2: are somewhere in the middle, so interest rates matter to them, 49 00:02:21,880 --> 00:02:25,240 Speaker 2: but the outlook for the economy matters even more. And 50 00:02:25,280 --> 00:02:27,799 Speaker 2: then there is a place like the tech sector where 51 00:02:28,080 --> 00:02:30,400 Speaker 2: you know very much at the whim of what's going 52 00:02:30,440 --> 00:02:34,280 Speaker 2: on globally. The SaaS apocalypse, for example, has hammered some 53 00:02:34,320 --> 00:02:37,280 Speaker 2: of those stocks. Overall, I suppose the war in the 54 00:02:37,280 --> 00:02:39,799 Speaker 2: Middle East is driving short term training, but longer term 55 00:02:39,919 --> 00:02:42,760 Speaker 2: rates still matter, and if you're going to invest, speak 56 00:02:42,760 --> 00:02:44,840 Speaker 2: to an advisor and make sure you diversify. 57 00:02:45,120 --> 00:02:47,840 Speaker 1: Indeed, story number two Sean, we talk so much about 58 00:02:47,880 --> 00:02:50,680 Speaker 1: house prices in our capital cities, but the incredible story 59 00:02:50,720 --> 00:02:54,400 Speaker 1: is actually happening in the regions. Home prices in every 60 00:02:54,440 --> 00:02:58,400 Speaker 1: region across the country record highs with growth over the 61 00:02:58,440 --> 00:03:01,440 Speaker 1: past five years, led by West in Australia, South Australia 62 00:03:01,440 --> 00:03:02,840 Speaker 1: and Queensland, and. 63 00:03:02,840 --> 00:03:06,920 Speaker 2: Then comes Tasmania. All four of those states outperformed regional 64 00:03:06,919 --> 00:03:09,960 Speaker 2: New South Wales and Victoria in terms of medium prices 65 00:03:10,000 --> 00:03:13,239 Speaker 2: for dwellings over the past twelve months. Regional New South Wales, 66 00:03:13,280 --> 00:03:16,639 Speaker 2: Regional Victoria, Regional South Australia, though, have all been better 67 00:03:16,720 --> 00:03:20,239 Speaker 2: than the capital cities in those states catalities had of research. 68 00:03:20,320 --> 00:03:23,520 Speaker 2: Tim Lawless said regional markets are showing some resilience to 69 00:03:23,520 --> 00:03:26,959 Speaker 2: the slowdown in prices across the country. Best regional market 70 00:03:27,240 --> 00:03:30,040 Speaker 2: Western Australia's bumbery prices up twenty two percenter of the 71 00:03:30,080 --> 00:03:30,600 Speaker 2: past year. 72 00:03:31,160 --> 00:03:34,639 Speaker 1: Story number three Strap yourself in for this one. A 73 00:03:34,760 --> 00:03:38,640 Speaker 1: sacked worker who used artificial intelligence to run his unfair 74 00:03:38,680 --> 00:03:42,080 Speaker 1: dismissal claim could be forced to pay thousands of dollars 75 00:03:42,120 --> 00:03:47,960 Speaker 1: in legal costs because he repeatedly relied on AI hallucinated arguments. So, 76 00:03:48,080 --> 00:03:51,200 Speaker 1: in a rare move right, the Fair Work Commission invited 77 00:03:51,280 --> 00:03:54,080 Speaker 1: Queensland Earth Moving business M and JD to seek costs 78 00:03:54,080 --> 00:03:59,600 Speaker 1: against its former landfill operator for relying on incoherent arguments 79 00:04:00,080 --> 00:04:04,640 Speaker 1: in deliberately misrepresenting the law. If pursued, this would be 80 00:04:04,680 --> 00:04:06,960 Speaker 1: the first time that the Commission has issued a cost 81 00:04:07,120 --> 00:04:10,360 Speaker 1: order over reliance on AI in a workplace case and 82 00:04:10,400 --> 00:04:14,880 Speaker 1: in a jurisdiction where parties are traditionally protected from paying 83 00:04:14,920 --> 00:04:16,159 Speaker 1: the other side's costs. 84 00:04:17,000 --> 00:04:19,760 Speaker 2: That's right. President Justice Adam Hatcher has warned of an 85 00:04:19,880 --> 00:04:23,839 Speaker 2: unsustainable increase in AI generated dismissal claims that's delaying rulings 86 00:04:23,839 --> 00:04:28,640 Speaker 2: and compromising major wage cases. He rejected the unfair dismissal claim, 87 00:04:28,720 --> 00:04:32,520 Speaker 2: which was based on AI. The self represented worker had 88 00:04:32,560 --> 00:04:36,400 Speaker 2: claimed constructive dismissal after he quit his job in response 89 00:04:36,680 --> 00:04:39,200 Speaker 2: to a change in his shift start time from seven 90 00:04:39,279 --> 00:04:41,680 Speaker 2: thirty eight to six pm. The Commission found he was 91 00:04:41,680 --> 00:04:44,640 Speaker 2: relying on non existent terms in his contract, non existent 92 00:04:44,720 --> 00:04:47,239 Speaker 2: terms in the award, and continued to do so even 93 00:04:47,320 --> 00:04:50,919 Speaker 2: when the Commission warned him against providing fake evidence. I suggest, 94 00:04:50,920 --> 00:04:52,480 Speaker 2: don't you AI get yourself a lawyer. 95 00:04:52,800 --> 00:04:55,840 Speaker 1: That's probably good advice. Sean story number four. You've heard 96 00:04:55,839 --> 00:04:57,520 Speaker 1: of the bank of mum and Dad. It's now extended 97 00:04:57,560 --> 00:04:59,800 Speaker 1: to the bank of grandmar and Grandpa. More than twenty 98 00:05:00,240 --> 00:05:03,840 Speaker 1: with grandparents are delaying or altering their retirement plans as 99 00:05:03,880 --> 00:05:06,200 Speaker 1: they provide finance to the kids and grandkids to help 100 00:05:06,240 --> 00:05:10,720 Speaker 1: them stay afloat. Grandparents providing financial support are spending an 101 00:05:10,760 --> 00:05:13,919 Speaker 1: average of three thousand and sixty six dollars per year 102 00:05:14,040 --> 00:05:17,839 Speaker 1: on their families over half are rating their own savings 103 00:05:17,920 --> 00:05:21,400 Speaker 1: and their own superannuation to cover these costs, and that 104 00:05:21,839 --> 00:05:24,440 Speaker 1: is forcing one in five to either delay or alter 105 00:05:24,560 --> 00:05:25,640 Speaker 1: their retirement plans. 106 00:05:26,120 --> 00:05:28,479 Speaker 2: So the research is from Seniors Australia. It suggests the 107 00:05:28,520 --> 00:05:31,840 Speaker 2: generation of seniors are sacrificing their own financial security. I 108 00:05:31,920 --> 00:05:33,680 Speaker 2: did some research on this one. The National Library of 109 00:05:33,720 --> 00:05:36,440 Speaker 2: Medicine in the US reckon that Chinese grandparents do most 110 00:05:36,480 --> 00:05:40,159 Speaker 2: in terms of looking after grandchildren financially and otherwise. Australian 111 00:05:40,200 --> 00:05:42,640 Speaker 2: and Brick grandparents are pretty good, though rate pretty high. 112 00:05:42,800 --> 00:05:46,599 Speaker 2: Sweden they take even further. They actually recognize grandparent leave. 113 00:05:46,880 --> 00:05:49,039 Speaker 2: Individuals can actually be paid for up to three months 114 00:05:49,120 --> 00:05:50,240 Speaker 2: looking after the grandkids. 115 00:05:50,520 --> 00:05:53,200 Speaker 1: Finally, story number five Sean It is of course Easter 116 00:05:53,320 --> 00:05:56,279 Speaker 1: Monday and given for many people across the country this 117 00:05:56,360 --> 00:05:58,160 Speaker 1: is a religious holiday. We thought we'd take a very 118 00:05:58,200 --> 00:06:01,760 Speaker 1: quick look at the biggest global pillgrim images. Religious tourism 119 00:06:01,880 --> 00:06:05,440 Speaker 1: is actually really, really, really big business. According to a 120 00:06:05,440 --> 00:06:08,719 Speaker 1: group called grand View Research, the religious tourism market is 121 00:06:08,760 --> 00:06:13,080 Speaker 1: expected to reach close to one trillion dollars by twenty thirty. 122 00:06:13,120 --> 00:06:16,200 Speaker 1: It's currently at about half that level today. The three 123 00:06:16,360 --> 00:06:20,039 Speaker 1: most visited religious sites in the world are Mecha in 124 00:06:20,080 --> 00:06:23,039 Speaker 1: Saudi Arabia that's a holy site for Muslims, Vatican City 125 00:06:23,080 --> 00:06:26,520 Speaker 1: inside Italy, a holy site for Catholics, and Varanasi in India, 126 00:06:26,560 --> 00:06:29,880 Speaker 1: which is considered the holiest site city of Hindus, although 127 00:06:29,880 --> 00:06:33,039 Speaker 1: it's also significant for Buddhists. Just briefly on Mecha, that 128 00:06:33,160 --> 00:06:37,240 Speaker 1: being the biggest in Saudi Arabia attracted close to two 129 00:06:37,279 --> 00:06:40,520 Speaker 1: million pilgrims last year paid up to twenty five thousand 130 00:06:40,600 --> 00:06:44,520 Speaker 1: US dollars for tours, and that includes government permits, accommodation, transportation, 131 00:06:44,640 --> 00:06:48,160 Speaker 1: food in Saudi Arabia right the demand is so strong 132 00:06:48,600 --> 00:06:51,360 Speaker 1: that the country has plans to build more than two 133 00:06:51,440 --> 00:06:55,640 Speaker 1: hundred and twenty thousand new hotel rooms just to meet demand. 134 00:06:56,440 --> 00:06:59,480 Speaker 2: Yeah, I mean there's much of lesser known pilgrimage as well, 135 00:06:59,480 --> 00:07:02,440 Speaker 2: has hitting us head to Ukraine for example, Hindus gathered 136 00:07:02,440 --> 00:07:04,360 Speaker 2: to bathe in the rivers of India. The Gandhese, in 137 00:07:04,440 --> 00:07:08,359 Speaker 2: particular Catholics flock to Manila. It is big business that 138 00:07:08,560 --> 00:07:10,520 Speaker 2: is incredible. All right, there we go to the top 139 00:07:10,560 --> 00:07:13,280 Speaker 2: five business stories in five minutes. Thank you Sean, Thank 140 00:07:13,320 --> 00:07:16,160 Speaker 2: you Michael. It is Monday, the sixth of April twenty 141 00:07:16,200 --> 00:07:18,800 Speaker 2: twenty six. Remember to hit follow on the podcast, and if. 142 00:07:18,800 --> 00:07:21,320 Speaker 1: Five minutes isn't enough, you can find our longer daily 143 00:07:21,360 --> 00:07:24,480 Speaker 1: show called Fear and Greed wherever you listen to podcasts. 144 00:07:24,480 --> 00:07:26,640 Speaker 1: I'm Uchael Thompson and that was the Fast five Business 145 00:07:26,680 --> 00:07:29,200 Speaker 1: news by Fear and Greed. Have a great day.