1 00:00:04,160 --> 00:00:06,560 Speaker 1: Welcome to the weekend edition of The Fast five Business 2 00:00:06,559 --> 00:00:09,040 Speaker 1: News by Fear and Greed. I'm Michael Thompson and Hello 3 00:00:09,080 --> 00:00:11,840 Speaker 1: Sean Aylmer, Hello Michael Shawan. On weekdays, it's all about 4 00:00:11,840 --> 00:00:14,320 Speaker 1: the past five the top five business stories in five minutes. 5 00:00:14,360 --> 00:00:16,840 Speaker 1: On the weekend, we still keep it to five minutes, 6 00:00:16,880 --> 00:00:18,759 Speaker 1: but we're going to pick out the biggest business story 7 00:00:18,800 --> 00:00:22,200 Speaker 1: of the week, the most remarkable story, a mystery category 8 00:00:22,280 --> 00:00:25,240 Speaker 1: changed that one every week, and then our favorite business 9 00:00:25,280 --> 00:00:29,360 Speaker 1: related story. Let's jump into it. There was really only 10 00:00:29,400 --> 00:00:31,920 Speaker 1: one big story, but a couple of angles to it. 11 00:00:31,960 --> 00:00:34,120 Speaker 1: It was, of course, the meeting in the White House 12 00:00:34,120 --> 00:00:38,160 Speaker 1: between US President Donald Trump and Prime Minister Anthony Alberanezi. 13 00:00:38,880 --> 00:00:40,560 Speaker 1: Trump's been in the White House for two hundred and 14 00:00:40,600 --> 00:00:42,640 Speaker 1: seventy three days. Took a long time to get the meeting, 15 00:00:42,720 --> 00:00:46,239 Speaker 1: but it happened and it was, by pretty much all accounts, 16 00:00:46,240 --> 00:00:50,159 Speaker 1: a success. The only downside you would say, was for 17 00:00:50,240 --> 00:00:52,720 Speaker 1: Kevin Rudd when there was a bit of an awkward 18 00:00:52,800 --> 00:00:57,280 Speaker 1: confrontation there between the President and Australia's ambassador to the 19 00:00:57,400 --> 00:01:00,440 Speaker 1: US over some old tweets that were made. We had 20 00:01:00,480 --> 00:01:03,880 Speaker 1: the opposition leader back home, Susan Lee calling for Kevin 21 00:01:03,920 --> 00:01:06,280 Speaker 1: Rudd to be removed. But really that's all. That's all 22 00:01:06,280 --> 00:01:08,039 Speaker 1: in the past now, I think, and we can move on. 23 00:01:08,120 --> 00:01:09,640 Speaker 1: But there was a business angle to this too. 24 00:01:10,480 --> 00:01:11,920 Speaker 2: One thing I would say about Kevin run I think 25 00:01:11,920 --> 00:01:14,120 Speaker 2: he was a winner from the whole process because before 26 00:01:14,840 --> 00:01:18,200 Speaker 2: then the opposition we're calling for him to step DOWNEP 27 00:01:18,319 --> 00:01:20,640 Speaker 2: no longer. Look. The business angle, of course, was the 28 00:01:20,800 --> 00:01:23,319 Speaker 2: eight point five billion US dollar Rare Earths and Critical 29 00:01:23,360 --> 00:01:27,720 Speaker 2: Minerals Deal. It'll consists of joint projects between the two countries. 30 00:01:27,760 --> 00:01:30,280 Speaker 2: The US will invest in Australia, Australia will invest in 31 00:01:30,360 --> 00:01:33,520 Speaker 2: the US. Basically, the US wants to improve the global 32 00:01:33,560 --> 00:01:37,920 Speaker 2: supply of rare earths away from China. An example of that, 33 00:01:38,040 --> 00:01:41,280 Speaker 2: Federal Industry Minister Tim Ayres was talking about gallium. It's 34 00:01:41,400 --> 00:01:44,360 Speaker 2: a metal known for its low melting point used in defense, smartphones, 35 00:01:44,400 --> 00:01:47,200 Speaker 2: medical imaging. Australia actually has quite a bit of it 36 00:01:47,200 --> 00:01:49,520 Speaker 2: in Western Australia. It's a two to three billion dollar 37 00:01:49,520 --> 00:01:51,920 Speaker 2: global industry. Now I'll get to twenty one billion dollars 38 00:01:51,960 --> 00:01:53,480 Speaker 2: in a decade. That's the opportunity. 39 00:01:53,600 --> 00:01:57,440 Speaker 1: Yeah, that's big. Okay, onto the most remarkable story. 40 00:01:59,160 --> 00:02:02,200 Speaker 2: You go first, well look, McQuary Group considering dropping hundreds 41 00:02:02,200 --> 00:02:06,880 Speaker 2: of investment options from its super investment platform. Big news here. 42 00:02:07,120 --> 00:02:09,480 Speaker 2: Last month from Quarry moved to block uses for investing 43 00:02:09,480 --> 00:02:11,680 Speaker 2: more money about eighty funds. They're looking at about another 44 00:02:11,720 --> 00:02:15,560 Speaker 2: five hundred according to the fin review. These superinvestment platforms, 45 00:02:15,639 --> 00:02:19,280 Speaker 2: think McQuary BT have twenty four It's the black box 46 00:02:19,360 --> 00:02:22,800 Speaker 2: between the investor and the product. And of course if 47 00:02:22,919 --> 00:02:25,440 Speaker 2: the black box says, hey, I've got a fund here, 48 00:02:25,480 --> 00:02:28,360 Speaker 2: there's tacit approval to the investor that it's okay to 49 00:02:28,440 --> 00:02:31,760 Speaker 2: invest in those products. Now, mcquarie and others have been 50 00:02:31,880 --> 00:02:35,200 Speaker 2: caught out by shield Master Fund, which recently collapsed. Mcquarie's 51 00:02:35,240 --> 00:02:37,640 Speaker 2: refunding three and twenty one million dollars to three thousand 52 00:02:37,680 --> 00:02:39,679 Speaker 2: clients on the back of that. But now they're going 53 00:02:39,680 --> 00:02:42,399 Speaker 2: through all their funds saying should this be on our 54 00:02:42,440 --> 00:02:44,839 Speaker 2: platform or not. It's going to be a real game 55 00:02:44,919 --> 00:02:46,320 Speaker 2: changer for that industry. Yeah. 56 00:02:46,360 --> 00:02:49,120 Speaker 1: Absolutely. The most remarkable story for me was open Ai 57 00:02:49,280 --> 00:02:52,120 Speaker 1: pretty much declaring war on Google Chrome with its own 58 00:02:52,160 --> 00:02:56,000 Speaker 1: web browser Atlas. So basically, instead of a search bar 59 00:02:56,080 --> 00:02:57,960 Speaker 1: you can talk, you can type an Outlas will find 60 00:02:57,960 --> 00:03:00,440 Speaker 1: and summarize and even click around on your half and 61 00:03:00,520 --> 00:03:03,920 Speaker 1: buy things for you This agentic Ai. Sam Altman, the 62 00:03:03,960 --> 00:03:06,640 Speaker 1: boss of open Ai, called it a once in a 63 00:03:06,639 --> 00:03:09,919 Speaker 1: decade chance to rethink what a browser can be. Google 64 00:03:10,000 --> 00:03:12,080 Speaker 1: Chrome has a massive headstart in this space, but if 65 00:03:12,120 --> 00:03:15,080 Speaker 1: Atlas is able to take some of that market share, 66 00:03:15,080 --> 00:03:17,000 Speaker 1: and potentially quite a large chunk of it, it could 67 00:03:17,080 --> 00:03:18,960 Speaker 1: change the way we use the Internet and change the 68 00:03:19,000 --> 00:03:22,040 Speaker 1: way that companies use it as well, because people may 69 00:03:22,040 --> 00:03:24,880 Speaker 1: not actually visit websites anymore, and it will change the 70 00:03:24,880 --> 00:03:27,480 Speaker 1: advertising space. It could be a big game changer. 71 00:03:27,520 --> 00:03:31,440 Speaker 2: Sean absolutely now, mister category. This week favorite market story, 72 00:03:31,440 --> 00:03:32,000 Speaker 2: What's yours? 73 00:03:32,440 --> 00:03:36,040 Speaker 1: Mine's the property market Sean. In the words of Domaine's 74 00:03:36,120 --> 00:03:41,400 Speaker 1: Nicola Powell, Australia's housing market made history this week. Just 75 00:03:41,400 --> 00:03:46,240 Speaker 1: the prices right, it had demands. September quarter price report 76 00:03:46,400 --> 00:03:51,320 Speaker 1: record prices in Sydney, Brisbane, Adelaide and Perth, Brisbane overtaking 77 00:03:51,360 --> 00:03:54,240 Speaker 1: Melbourne to become the second most expensive city, Sydney and 78 00:03:54,240 --> 00:03:57,960 Speaker 1: Melbourne posting their fastest gains in years. These are all 79 00:03:57,960 --> 00:04:01,360 Speaker 1: the medium prices right. The pace of growth is increasing, 80 00:04:01,480 --> 00:04:04,680 Speaker 1: driven by interest rate cuts, driven by a shortage of 81 00:04:04,720 --> 00:04:09,200 Speaker 1: supply driven by this new increased, expanded first home by 82 00:04:09,200 --> 00:04:10,720 Speaker 1: a scheme. It's not stopping. 83 00:04:10,960 --> 00:04:14,760 Speaker 2: No. My favorite market story is a cautionary tale for investors. 84 00:04:14,760 --> 00:04:17,839 Speaker 2: What goes up generally tends to come down. Maybe not 85 00:04:17,839 --> 00:04:20,200 Speaker 2: the housing market, but everything else. On Tuesday, the price 86 00:04:20,240 --> 00:04:23,480 Speaker 2: of gold, having hit a peak, fell by it's largest 87 00:04:23,520 --> 00:04:28,000 Speaker 2: amount in twelve years. Same deal with silver. What we've 88 00:04:28,000 --> 00:04:31,720 Speaker 2: seen in recent weeks is queues around ABC billion store 89 00:04:31,720 --> 00:04:35,200 Speaker 2: in Sydney as people have been buying physical gold. We've 90 00:04:35,240 --> 00:04:38,240 Speaker 2: seen ASEX listed gold exchange traded funds hit a record 91 00:04:38,520 --> 00:04:41,960 Speaker 2: almost one billion dollars for this year, beating the previous 92 00:04:41,960 --> 00:04:45,640 Speaker 2: peak from COVID. Lots of those investors, of retail investors, 93 00:04:45,640 --> 00:04:48,520 Speaker 2: they've gone in, they've bought gold, and it has come off. 94 00:04:48,600 --> 00:04:50,920 Speaker 2: They've done their money. Now gold still sits at a 95 00:04:51,000 --> 00:04:53,960 Speaker 2: very high level. So you know, no one's crying poor here, 96 00:04:54,320 --> 00:04:57,359 Speaker 2: but it just does show or I mean, it demonstrates 97 00:04:57,400 --> 00:05:00,320 Speaker 2: once again that when you're investing in markets is always risky. 98 00:05:00,440 --> 00:05:01,480 Speaker 2: You're going to lose money. 99 00:05:01,560 --> 00:05:04,000 Speaker 1: Indeed, all right, favorite story of the week, there's only 100 00:05:04,080 --> 00:05:06,880 Speaker 1: one story Sean here and it happened early in the 101 00:05:06,920 --> 00:05:08,480 Speaker 1: week and from that moment it was game over. There 102 00:05:08,480 --> 00:05:09,120 Speaker 1: was nothing else. 103 00:05:09,200 --> 00:05:11,800 Speaker 2: Yeah, the jewelry theft at the loof eight pieces of 104 00:05:11,880 --> 00:05:14,240 Speaker 2: jewelry worth one hundred million dollars, or as the loof says, 105 00:05:14,400 --> 00:05:19,120 Speaker 2: and then estimal inestimable. There's a hard word historical value. Basically, 106 00:05:19,120 --> 00:05:21,880 Speaker 2: a few hooded blokes power tools, clambed up wall, smashed 107 00:05:21,880 --> 00:05:23,560 Speaker 2: the windows, threatened the guards to the power tools. The 108 00:05:23,560 --> 00:05:26,320 Speaker 2: guards ran away and then smashed the case with jills, 109 00:05:26,320 --> 00:05:28,360 Speaker 2: but being held, jumped out the window, climbed back down 110 00:05:28,440 --> 00:05:31,760 Speaker 2: and took off. That's what happened. The museums director acknowledged 111 00:05:31,760 --> 00:05:35,160 Speaker 2: that much of its security system was badly outdated. Only 112 00:05:35,360 --> 00:05:38,200 Speaker 2: the only exterior camera near the thieves was facing the 113 00:05:38,200 --> 00:05:42,960 Speaker 2: wrong way. As a result, the security system didn't actually 114 00:05:42,960 --> 00:05:46,560 Speaker 2: see them arriving on Sunday morning, nine thirty am, you know, 115 00:05:46,640 --> 00:05:50,159 Speaker 2: in a truck parked right against the louver wall. Didn't 116 00:05:50,160 --> 00:05:52,760 Speaker 2: actually catch them deploying the electric ladder as it went 117 00:05:52,800 --> 00:05:55,680 Speaker 2: onto the wall, as they climbed into the second four balcony, 118 00:05:56,040 --> 00:05:59,680 Speaker 2: when they smashed the window. Well, the security system worked 119 00:05:59,720 --> 00:06:03,880 Speaker 2: quite well, security said, but up until that point it 120 00:06:03,960 --> 00:06:07,680 Speaker 2: was a problem. Amazing, amazing story. They got away with 121 00:06:08,040 --> 00:06:10,160 Speaker 2: priceless well one hundred million dolls were the jewels? 122 00:06:10,200 --> 00:06:12,240 Speaker 1: Staggering? And I love the fact that this is not 123 00:06:12,279 --> 00:06:15,279 Speaker 1: just some kind of backwater gallery. This is the most famous, 124 00:06:15,400 --> 00:06:18,440 Speaker 1: arguably the most well defended museum in the entire world. 125 00:06:18,600 --> 00:06:21,279 Speaker 2: Incredible, and I love that the head of security said, well, 126 00:06:21,440 --> 00:06:24,880 Speaker 2: we've been training for soup throwing or paint throwing, people 127 00:06:24,920 --> 00:06:27,760 Speaker 2: coming and chucking stuff at paintings. We haven't really been 128 00:06:27,800 --> 00:06:30,520 Speaker 2: throwing at training for people jumping in and stealing stuff. 129 00:06:30,560 --> 00:06:32,720 Speaker 1: Goodness mate, all right, there we go, five minutes from 130 00:06:32,720 --> 00:06:34,160 Speaker 1: pretty much everything you need to know in the world 131 00:06:34,200 --> 00:06:34,559 Speaker 1: of business. 132 00:06:34,560 --> 00:06:35,760 Speaker 2: Thank you, Sean, Thank you Michael. 133 00:06:35,800 --> 00:06:37,440 Speaker 1: We'll be back on Monday morning with the top five 134 00:06:37,440 --> 00:06:39,640 Speaker 1: business stories in five minutes. Don't forget to hit follow 135 00:06:39,680 --> 00:06:41,360 Speaker 1: on the podcast and head to Fear and Greed dot 136 00:06:41,360 --> 00:06:42,800 Speaker 1: com dot at you to sign up for our free 137 00:06:42,839 --> 00:06:45,280 Speaker 1: daily newsletter. I'm Michael Thompson and this is the past 138 00:06:45,279 --> 00:06:46,880 Speaker 1: five business news by Fear and Greed.