1 00:00:03,800 --> 00:00:07,320 Speaker 1: It's Wednesday, the eighteenth of December twenty twenty four. Welcome 2 00:00:07,320 --> 00:00:09,720 Speaker 1: to the Fast five Business News by Fear and Greed, 3 00:00:09,760 --> 00:00:11,640 Speaker 1: where we give you the top five business stories you 4 00:00:11,680 --> 00:00:14,080 Speaker 1: need to know when us five minutes. I'm Michael Thompson 5 00:00:14,120 --> 00:00:15,480 Speaker 1: and good morning Sean Aylmer. 6 00:00:15,720 --> 00:00:16,720 Speaker 2: Good morning, Michael. 7 00:00:17,160 --> 00:00:19,720 Speaker 1: Sean. Five big stories to race through in five minutes, 8 00:00:19,720 --> 00:00:22,279 Speaker 1: so we better get cracking with story Number one. Healthcare 9 00:00:22,400 --> 00:00:25,599 Speaker 1: and technology stocks have been the best performing companies on 10 00:00:25,640 --> 00:00:28,720 Speaker 1: the ASX two hundred and twenty twenty four, with breakthroughs 11 00:00:28,720 --> 00:00:32,640 Speaker 1: in medicine, expectations of lower interest rates, and strong earnings 12 00:00:32,680 --> 00:00:36,680 Speaker 1: growth combining to ensure that eleven companies Sean doubled in 13 00:00:36,800 --> 00:00:38,080 Speaker 1: value in twenty twenty four. 14 00:00:38,640 --> 00:00:41,080 Speaker 2: Top of that list Miso Blast up five hundred percent. 15 00:00:41,159 --> 00:00:44,519 Speaker 2: Stem Cell Research Group, coming out of stage three trials 16 00:00:44,520 --> 00:00:46,639 Speaker 2: for a drug aimed at helping kids who have had 17 00:00:46,680 --> 00:00:50,560 Speaker 2: major surgeries and experience the rejection of transplanted tissues. Number 18 00:00:50,560 --> 00:00:54,280 Speaker 2: two Buy Now, Pay Later Group ZIPC up three seventy percent, 19 00:00:54,360 --> 00:00:57,320 Speaker 2: done well on customers end retailers during the year. Newie 20 00:00:57,480 --> 00:00:59,600 Speaker 2: up two hundred and fifty percent. That was number three 21 00:01:00,200 --> 00:01:02,720 Speaker 2: period after listing things that we've got things right again. 22 00:01:03,120 --> 00:01:05,600 Speaker 2: Other medical stocks to do well Sigma Healthcare thanks to 23 00:01:05,600 --> 00:01:09,920 Speaker 2: a deal with Chemist Warehouse, Promedicus, Telix Pharmaceuticals, Regius Healthcare, 24 00:01:10,760 --> 00:01:13,640 Speaker 2: trafficking app Live three sixty was up there as well. 25 00:01:13,640 --> 00:01:16,440 Speaker 2: Of the large caps, the best Aristocrat Leisure, followed by 26 00:01:16,440 --> 00:01:19,559 Speaker 2: Weistech Global and zero. A few other call outs. JB 27 00:01:19,720 --> 00:01:22,360 Speaker 2: hi Fi It raised by more than fifty percent this 28 00:01:22,840 --> 00:01:26,319 Speaker 2: year twenty twenty four, so to AMP, Quantus IAG and 29 00:01:26,360 --> 00:01:27,000 Speaker 2: Goodman Group. 30 00:01:27,920 --> 00:01:31,520 Speaker 1: As sean they're the top, they're the best performers. What 31 00:01:31,600 --> 00:01:33,319 Speaker 1: about the worst of the ASX two. 32 00:01:33,240 --> 00:01:35,839 Speaker 2: Hundred for the year A bit of a mixed bunch. 33 00:01:36,080 --> 00:01:39,600 Speaker 2: Let's take the bottom ten. The only megacap in that 34 00:01:39,760 --> 00:01:42,880 Speaker 2: is Fortes. Few Metals group backwards by thirty five percent 35 00:01:43,080 --> 00:01:45,560 Speaker 2: on the back of lower iron ore prices, management Uphevial 36 00:01:46,000 --> 00:01:48,880 Speaker 2: dates over its push into renewable energies. A bunch of 37 00:01:48,920 --> 00:01:52,480 Speaker 2: battery metals companies also struggled. The worst of all was 38 00:01:52,520 --> 00:01:55,480 Speaker 2: Mineral Resources, down nearly fifty percent. It's founder Chris Ellison 39 00:01:55,480 --> 00:01:57,680 Speaker 2: found himself in royal and all sorts of governance issues. 40 00:01:58,040 --> 00:02:01,640 Speaker 2: Others on that list Domino's, Pete's a Spark New Zealand 41 00:02:01,680 --> 00:02:04,480 Speaker 2: and Fletcher Building, IDP Education and nine Entertainment. 42 00:02:04,560 --> 00:02:06,480 Speaker 1: All right, moving on to story number two. Now, an 43 00:02:06,560 --> 00:02:10,480 Speaker 1: independent expert Grant Samuel, which is a company not a person, 44 00:02:11,080 --> 00:02:14,120 Speaker 1: won't recommend the two point two billion dollar sale of 45 00:02:14,120 --> 00:02:18,640 Speaker 1: Perpetual's wealth management and corporate trust business to private equity 46 00:02:18,639 --> 00:02:19,480 Speaker 1: group KKR. 47 00:02:20,000 --> 00:02:22,360 Speaker 2: That puts a major spatter in the works, particularly after 48 00:02:22,400 --> 00:02:25,760 Speaker 2: the ATO last week handed Perpetual a bill of around 49 00:02:25,760 --> 00:02:29,280 Speaker 2: five hundred million dollars from the deal, about three times 50 00:02:29,280 --> 00:02:32,880 Speaker 2: the original estimate. Grant Samuel said it didn't think the 51 00:02:32,880 --> 00:02:35,120 Speaker 2: sale was in the best interests of shareholders, taking into 52 00:02:35,120 --> 00:02:37,720 Speaker 2: account what happened with the ATO last week. As a result, 53 00:02:37,960 --> 00:02:40,040 Speaker 2: very difficult for the board now to recommend the deal. 54 00:02:40,040 --> 00:02:43,360 Speaker 2: The two sides said they're continuing to engage constructively in 55 00:02:43,360 --> 00:02:46,760 Speaker 2: relation to the transaction. Perpetual has been looking at breaking 56 00:02:46,840 --> 00:02:49,240 Speaker 2: up its business as it attempts to turn around its 57 00:02:49,240 --> 00:02:51,040 Speaker 2: funds at management operations. 58 00:02:51,520 --> 00:02:55,440 Speaker 1: Story number three show on another independent expert report out yesterday, 59 00:02:55,600 --> 00:03:00,600 Speaker 1: involves Meyer's proposal to acquire Premier's apparel brands business, and 60 00:03:00,720 --> 00:03:02,239 Speaker 1: it gave it the tick of approval. 61 00:03:02,600 --> 00:03:05,360 Speaker 2: Sure did Maya wants to buy Just Jeans, Jackie Dotty 62 00:03:05,400 --> 00:03:09,320 Speaker 2: Portman's and JJ's independent expert Kroll said the retail market 63 00:03:09,320 --> 00:03:12,359 Speaker 2: has changed in the emergence of groups like online players 64 00:03:12,360 --> 00:03:15,960 Speaker 2: out of China, particularly Tea Machine, means it's essential for 65 00:03:16,000 --> 00:03:18,880 Speaker 2: a company like Maya to expand. Kroll said the deal 66 00:03:19,000 --> 00:03:21,600 Speaker 2: is both fair and reasonable, and as highlighted by the 67 00:03:21,639 --> 00:03:24,239 Speaker 2: collapse of Mosaic brands in recent months in Oreton and 68 00:03:24,280 --> 00:03:27,919 Speaker 2: twenty eighteen, large scale retailers are better positioned. Under the deal. 69 00:03:27,960 --> 00:03:30,519 Speaker 2: Maya will have a network of nearly eight hundred outlets 70 00:03:30,800 --> 00:03:33,120 Speaker 2: across Australia and New Zealand and your revenue of more 71 00:03:33,160 --> 00:03:36,000 Speaker 2: than four billion dollars. If shareholders vote for the deal 72 00:03:36,040 --> 00:03:38,960 Speaker 2: in January, Melbourne retailer Solomon Lou will end up with 73 00:03:39,120 --> 00:03:40,520 Speaker 2: twenty seven percent of Mayer. 74 00:03:40,840 --> 00:03:44,120 Speaker 1: How about this one story? Number four? Former nine CEO 75 00:03:44,360 --> 00:03:47,960 Speaker 1: Hugh Marx is going to take over as managing director 76 00:03:48,120 --> 00:03:48,760 Speaker 1: the ABC. 77 00:03:49,560 --> 00:03:53,720 Speaker 2: Courageous Prime Minister, courageous. Not many saw this coming. Nine 78 00:03:53,760 --> 00:03:56,840 Speaker 2: is a very different beasts to the ABC. Hugh Mark 79 00:03:56,880 --> 00:03:58,960 Speaker 2: said he won't be scared to make tough decisions to 80 00:03:59,000 --> 00:04:01,240 Speaker 2: help the national broadcast and he wants to use social 81 00:04:01,320 --> 00:04:04,400 Speaker 2: media to find at younger listeners, readers, and viewers. He 82 00:04:04,440 --> 00:04:08,280 Speaker 2: said he'd be proactive in handling workplace cultural matters, saying 83 00:04:08,280 --> 00:04:11,800 Speaker 2: the problems recently exposed that his former company nine Entertainment 84 00:04:12,120 --> 00:04:15,800 Speaker 2: had given him a heightened level of awareness. Marks ran 85 00:04:15,920 --> 00:04:18,360 Speaker 2: nine from November twenty fifteen to early twenty twenty one, 86 00:04:18,440 --> 00:04:21,839 Speaker 2: resigning after the closing. After disclosing, he was in a 87 00:04:21,880 --> 00:04:24,600 Speaker 2: relationship with a member of his leadership team. 88 00:04:24,800 --> 00:04:27,520 Speaker 1: Last one story number five, very worrying story this one. 89 00:04:27,560 --> 00:04:30,960 Speaker 1: An earthquake of magnitude seven point three has struck near 90 00:04:31,000 --> 00:04:35,240 Speaker 1: Port Villa in Vanuatu. According to the US Geological Survey. 91 00:04:35,400 --> 00:04:38,480 Speaker 2: The quake struck at a depth of forty three kilometers 92 00:04:38,600 --> 00:04:41,760 Speaker 2: thirty kilometers west of Port Vila. It was followed by 93 00:04:41,920 --> 00:04:44,760 Speaker 2: a magnitude five and a half after shock at the 94 00:04:44,760 --> 00:04:49,120 Speaker 2: same location. The extent of any damage isn't immediately clear. 95 00:04:49,120 --> 00:04:51,400 Speaker 2: A video posted on social media appears to show a 96 00:04:51,400 --> 00:04:55,280 Speaker 2: building that houses some diplomatic missions to Vanuatu, including those 97 00:04:55,320 --> 00:04:58,200 Speaker 2: of Britain, France and New Zealand, with some damage to 98 00:04:58,240 --> 00:05:02,200 Speaker 2: its structure, including buckled windows and debris that's crumbled from 99 00:05:02,279 --> 00:05:05,320 Speaker 2: the walls. Treasury Jim Chalmers that Australian officials were still 100 00:05:05,360 --> 00:05:08,599 Speaker 2: gathering information about the situation on the ground. Benawatu government 101 00:05:08,640 --> 00:05:11,559 Speaker 2: websites have been offline in the aftermath of the quake. 102 00:05:11,600 --> 00:05:14,159 Speaker 2: Phone numbers for the police and other public agencies aren't 103 00:05:14,160 --> 00:05:16,560 Speaker 2: connecting either, according to Satiated Press. 104 00:05:16,800 --> 00:05:18,839 Speaker 1: All right, there we go, the top five business stories 105 00:05:18,839 --> 00:05:19,440 Speaker 1: in five minutes. 106 00:05:19,440 --> 00:05:21,200 Speaker 2: Thank you very much, Sean, Thank you, Michael. 107 00:05:21,360 --> 00:05:24,640 Speaker 1: It is Wednesday, the eighteenth of December twenty twenty four. 108 00:05:24,760 --> 00:05:27,000 Speaker 1: Remember to hit follow on the podcast, and if five 109 00:05:27,040 --> 00:05:29,680 Speaker 1: minutes isn't enough, you can find our longer daily show 110 00:05:29,760 --> 00:05:33,040 Speaker 1: called Fear and Greed wherever you listen to podcasts. I'm 111 00:05:33,040 --> 00:05:35,280 Speaker 1: Michael Thompson and that was the fast five business news 112 00:05:35,279 --> 00:05:39,320 Speaker 1: by Fear and Greed. Have a great day.