1
00:00:03,880 --> 00:00:06,840
Speaker 1: It's Tuesday, the third of February twenty twenty six. Welcome

2
00:00:06,840 --> 00:00:09,200
Speaker 1: to the Fast five Business News by Fear and Greed.

3
00:00:09,240 --> 00:00:11,040
Speaker 1: Whill we give you the top five business stories you

4
00:00:11,080 --> 00:00:13,240
Speaker 1: need to know in just five minutes. O'h Michael Thompson

5
00:00:13,280 --> 00:00:14,680
Speaker 1: and good morning Sean Aylmer.

6
00:00:14,920 --> 00:00:16,520
Speaker 2: Good morning Michael, Sean.

7
00:00:16,600 --> 00:00:18,880
Speaker 1: Five stories in five minutes. Let's go story number one.

8
00:00:18,960 --> 00:00:21,799
Speaker 1: The federal coalition parties were last night working hard to

9
00:00:21,920 --> 00:00:25,960
Speaker 1: mend fences and again joined forces ahead of today's parliamentary

10
00:00:25,960 --> 00:00:29,000
Speaker 1: session and as one nation support in the electric grows

11
00:00:29,000 --> 00:00:29,880
Speaker 1: and grows and grows.

12
00:00:30,320 --> 00:00:32,920
Speaker 2: Liberal leader Sitis and Lee and National's leader David little

13
00:00:32,920 --> 00:00:36,839
Speaker 2: Proud were talking last night hoping to reunite the two parties,

14
00:00:36,880 --> 00:00:39,880
Speaker 2: despite clear tensions between the individuals Lee and Little Proud

15
00:00:40,159 --> 00:00:43,120
Speaker 2: and internal divisions within each party. Two weeks ago, Little

16
00:00:43,120 --> 00:00:45,760
Speaker 2: Proud said there'd be no reunification if Lee kept her job,

17
00:00:45,760 --> 00:00:47,400
Speaker 2: at least in the short term. It doesn't appear that

18
00:00:47,479 --> 00:00:50,879
Speaker 2: Lee's going anywhere, although be caveat on that one who

19
00:00:50,960 --> 00:00:53,479
Speaker 2: really knows. Lee had given the Nats one week to

20
00:00:53,479 --> 00:00:57,600
Speaker 2: reunite before the split becomes permanent. Nationals MP Darren Chesterdy

21
00:00:58,280 --> 00:01:01,240
Speaker 2: Chester yesterday moved a most at a party room meeting

22
00:01:01,320 --> 00:01:04,000
Speaker 2: to reunite with the Libs. The NATS are due to

23
00:01:04,000 --> 00:01:07,560
Speaker 2: meet today to consider last night's discussion. Also, Yesterday has

24
00:01:07,600 --> 00:01:10,480
Speaker 2: expected a leadership spill voted Little Prowd back into the

25
00:01:10,480 --> 00:01:12,720
Speaker 2: top job at the NATS. All they came as One

26
00:01:12,800 --> 00:01:15,600
Speaker 2: Nation recruit. Barnaby Joyce, formerly of the NATS, said that

27
00:01:15,760 --> 00:01:18,759
Speaker 2: another defection from the Nats to One Nation is imminent.

28
00:01:18,840 --> 00:01:20,280
Speaker 2: We'll be waiting to hear about that one.

29
00:01:20,520 --> 00:01:23,160
Speaker 1: Indeed we shall. And while all of this is going on,

30
00:01:23,480 --> 00:01:26,000
Speaker 1: Prime Minister Anthony Albanezi he must be loving life at

31
00:01:26,000 --> 00:01:29,039
Speaker 1: the moment. There's no effective opposition his cruising into a

32
00:01:29,080 --> 00:01:32,160
Speaker 1: new parliamentary year ahead in the polls, a majority in

33
00:01:32,200 --> 00:01:35,040
Speaker 1: the House of Raps, a strong position in the Senate.

34
00:01:35,360 --> 00:01:36,280
Speaker 1: It's looking pretty good.

35
00:01:36,560 --> 00:01:40,679
Speaker 2: Yeah, I mean, maybe Labour's biggest threat is complacency. Bit

36
00:01:40,720 --> 00:01:43,680
Speaker 2: of legislation to get through the any gun laws passed,

37
00:01:43,720 --> 00:01:45,119
Speaker 2: though the States have still got a bit of work

38
00:01:45,160 --> 00:01:48,200
Speaker 2: on that one. The original that original legislation had racial

39
00:01:48,240 --> 00:01:49,600
Speaker 2: vilification clauses.

40
00:01:49,840 --> 00:01:50,720
Speaker 1: They were strawn out.

41
00:01:50,880 --> 00:01:52,760
Speaker 2: Maybe they'll come back, but I reckon most of the

42
00:01:52,800 --> 00:01:54,360
Speaker 2: focus in the next couple of months will be on

43
00:01:54,360 --> 00:01:57,639
Speaker 2: the state of the economy, interest rates, government spending, budget defers,

44
00:01:57,680 --> 00:01:59,240
Speaker 2: its cost of living, all that sort of thing.

45
00:02:00,240 --> 00:02:02,280
Speaker 1: Moving on to story number two. Now, Sean and this

46
00:02:02,360 --> 00:02:05,080
Speaker 1: afternoon we will find out if there will be an

47
00:02:05,080 --> 00:02:07,160
Speaker 1: increase in interest rates from the Reserve Bank, and it

48
00:02:07,200 --> 00:02:09,520
Speaker 1: is likely we will see one. But there is a

49
00:02:09,560 --> 00:02:11,440
Speaker 1: little bit of good news for mortgage holders.

50
00:02:11,560 --> 00:02:13,440
Speaker 2: Yeah. Sure, its competition is heading up in the home

51
00:02:13,520 --> 00:02:16,400
Speaker 2: lending market. That's good for borrowers. Macquarie grew it's one

52
00:02:16,520 --> 00:02:19,160
Speaker 2: hundred and sixty five billion dollars mortgage book by two

53
00:02:19,240 --> 00:02:22,239
Speaker 2: point four five percent in December. Doesn't sound like much

54
00:02:22,400 --> 00:02:26,079
Speaker 2: fastest monthly growth rate since June twenty twenty two, more

55
00:02:26,120 --> 00:02:28,240
Speaker 2: than three times the average of the other banks. This

56
00:02:28,320 --> 00:02:31,840
Speaker 2: is according to the Australian Poindential Regulation Authority. Its market

57
00:02:31,880 --> 00:02:35,040
Speaker 2: share of six point seven nine percent grew by one

58
00:02:35,040 --> 00:02:40,559
Speaker 2: percentage point. What's that mean? Mcquarie is aggressively providing deals

59
00:02:40,760 --> 00:02:44,320
Speaker 2: to potential borrowers in an effort to get more home

60
00:02:44,600 --> 00:02:47,079
Speaker 2: on more of the homeland market. West Packing, Commonwealth and

61
00:02:47,120 --> 00:02:50,359
Speaker 2: Meticular seem to have responded. They're actually growing faster than

62
00:02:50,360 --> 00:02:52,360
Speaker 2: the market average, while L's in Australian Bank and AM's

63
00:02:52,360 --> 00:02:54,360
Speaker 2: that is below point of all this. We may be

64
00:02:54,360 --> 00:02:57,880
Speaker 2: getting a rate hike this afternoon, but more competition in

65
00:02:57,919 --> 00:03:01,640
Speaker 2: the mortgage lending market definitely needs better deals for customers.

66
00:03:02,400 --> 00:03:04,520
Speaker 1: Story number three. This has to be one of the

67
00:03:04,560 --> 00:03:07,800
Speaker 1: most curious stories in corporate Australia right now. Shaw and

68
00:03:07,800 --> 00:03:10,240
Speaker 1: the boss of Corporate Travel Management, the company that's been

69
00:03:10,240 --> 00:03:12,680
Speaker 1: in a trading halt for five months because of what

70
00:03:12,760 --> 00:03:17,320
Speaker 1: was initially called some minor accounting issues, has now quit

71
00:03:17,400 --> 00:03:21,320
Speaker 1: the business and investors are not happy. They are enraged

72
00:03:21,440 --> 00:03:24,200
Speaker 1: because he is leaving with a six month consulting deal.

73
00:03:24,600 --> 00:03:27,800
Speaker 2: So Jamie Ferris resigned yesterday, just months after the company

74
00:03:27,840 --> 00:03:30,120
Speaker 2: revealed it was looking at about one hundred and sixty

75
00:03:30,160 --> 00:03:33,320
Speaker 2: million dollars in invoices to customers, including the UK government.

76
00:03:33,600 --> 00:03:36,000
Speaker 2: Now a company sacked it's chief executive for Europe and

77
00:03:36,200 --> 00:03:39,840
Speaker 2: UK on the back of that. Now the CEO has gone. However,

78
00:03:40,120 --> 00:03:43,200
Speaker 2: this consulting agreement it allows the board and management to

79
00:03:43,360 --> 00:03:49,680
Speaker 2: use Ferris's knowledge if and when necessary. Corporate Travel Management's

80
00:03:49,680 --> 00:03:52,200
Speaker 2: twenty twenty five fiscal year accounts haven't been signed off.

81
00:03:52,200 --> 00:03:54,440
Speaker 2: The company's been in a trading hall since August. Yesterday,

82
00:03:54,480 --> 00:03:56,800
Speaker 2: there was no indication of how the investigation of the

83
00:03:56,800 --> 00:03:58,880
Speaker 2: company's charging in the UK and Europe was going, when

84
00:03:58,880 --> 00:04:02,080
Speaker 2: the accounts will be signed off A lot of unhappy shareholders.

85
00:04:01,920 --> 00:04:04,400
Speaker 1: Story number four. A growing number of countries around the

86
00:04:04,400 --> 00:04:08,000
Speaker 1: world looking at banning social media accounts, following Australia's lead

87
00:04:08,040 --> 00:04:09,000
Speaker 1: from the end of last year.

88
00:04:09,280 --> 00:04:11,120
Speaker 2: One of the latest supporters of the ban is France,

89
00:04:11,120 --> 00:04:14,200
Speaker 2: with President Emanuel mccron saying he's aiming to get mobile

90
00:04:14,280 --> 00:04:17,200
Speaker 2: phones and scrolling out of high schools by September. The

91
00:04:17,240 --> 00:04:19,760
Speaker 2: British governments also said it's considering banning social media for

92
00:04:19,839 --> 00:04:22,080
Speaker 2: under sixteen year olds. To Egypt's parliaments looking at it,

93
00:04:23,240 --> 00:04:25,520
Speaker 2: wouldn't be surprised if they get somewhere here, because social

94
00:04:25,520 --> 00:04:27,680
Speaker 2: media's got quite a few headaches at the moment and

95
00:04:27,720 --> 00:04:30,560
Speaker 2: they don't want to make enemies of governments. Last week,

96
00:04:30,560 --> 00:04:33,760
Speaker 2: in Los Angeles, jury selection began for a landmarks civil

97
00:04:33,880 --> 00:04:37,440
Speaker 2: trial brought by parents who accused Meta, TikTok and YouTube

98
00:04:37,440 --> 00:04:40,520
Speaker 2: of causing children to develop social media addiction and mental

99
00:04:40,520 --> 00:04:43,279
Speaker 2: health issues. In fact that it's estimated there are three

100
00:04:43,279 --> 00:04:48,760
Speaker 2: thousand plus lawsuits in California alone against the media giants.

101
00:04:48,480 --> 00:04:51,359
Speaker 1: All right. Last one story, number five, The Milania Trump

102
00:04:51,440 --> 00:04:55,839
Speaker 1: documentary called Milania debut over the weekend. Shawna. They better

103
00:04:55,839 --> 00:04:59,240
Speaker 1: than expected seven million US dollars in ticket sales. It's

104
00:04:59,279 --> 00:05:01,919
Speaker 1: a pretty ordinary debut for a film that probably costs

105
00:05:01,960 --> 00:05:04,839
Speaker 1: around one hundred million dollars in rights and marketing and production.

106
00:05:05,000 --> 00:05:07,600
Speaker 1: But it is a solid number for a documentary.

107
00:05:08,360 --> 00:05:10,719
Speaker 2: Yeah, I mean, it's unlike anything seen before. Amazon MGM

108
00:05:10,760 --> 00:05:13,280
Speaker 2: Studio has paid forty million US dollars for the riots,

109
00:05:13,279 --> 00:05:16,840
Speaker 2: plus thirty five million to market it most expensive documentary ever.

110
00:05:17,240 --> 00:05:19,960
Speaker 2: Brett Ratner directed it. He's pretty much been on the

111
00:05:20,000 --> 00:05:23,040
Speaker 2: nose at Hollywood for about eight years now. It debuted

112
00:05:23,160 --> 00:05:26,760
Speaker 2: almost eighteen hundred theaters across the US chronicles Milania Trump

113
00:05:26,839 --> 00:05:30,520
Speaker 2: over twenty days last January, leading up to Trump's second inauguration.

114
00:05:30,640 --> 00:05:33,359
Speaker 2: Donald Trump himself said it was a muss see. The

115
00:05:33,440 --> 00:05:36,920
Speaker 2: verdict from most Americans probably not a must see. It

116
00:05:36,960 --> 00:05:39,160
Speaker 2: is the best opening we can for a documentary outside

117
00:05:39,200 --> 00:05:41,719
Speaker 2: of concert films in fourteen years. It's got to give

118
00:05:41,760 --> 00:05:44,960
Speaker 2: it that. Estimates ranged from three million to five million

119
00:05:45,000 --> 00:05:48,320
Speaker 2: ahead of it, according to Associated Press, but still, you know,

120
00:05:48,360 --> 00:05:51,400
Speaker 2: one hundred million dollars seven million dollar a turn. Maybe

121
00:05:51,400 --> 00:05:53,440
Speaker 2: there's more than money in this one, Michael.

122
00:05:53,640 --> 00:05:56,599
Speaker 1: Maybe Sean. There we go the top five business stories

123
00:05:56,600 --> 00:05:57,920
Speaker 1: in five minutes. Thank you very much.

124
00:05:58,120 --> 00:05:58,760
Speaker 2: Thanks Michael.

125
00:05:59,000 --> 00:06:02,200
Speaker 1: It's Tuesday of February twenty twenty six. Remember to hit

126
00:06:02,240 --> 00:06:04,760
Speaker 1: follow on the podcast. That's very important and in five

127
00:06:04,800 --> 00:06:07,240
Speaker 1: minutes isn't enough. You can find our longer daily show

128
00:06:07,279 --> 00:06:09,840
Speaker 1: called Fear and Greed wherever you listen to podcasts. I'm

129
00:06:09,839 --> 00:06:12,080
Speaker 1: Michael Thompson and that was the fast five business news

130
00:06:12,080 --> 00:06:16,520
Speaker 1: by Fear and Greed. Had a great day,