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Speaker 1: It's Friday, the thirteenth of September twenty twenty four. Welcome

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Speaker 1: to the Fast five Business News by Fear and Greed.

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Speaker 1: Whill we give you the top five business stories you

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Speaker 1: need to know in just five minutes. A'm Michael Thompson

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Speaker 1: and good morning Sean Aylmer.

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Speaker 2: Good morning, Michael, Sean.

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Speaker 1: Five stories, five minutes. Let's go. Story number one. Federal

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Speaker 1: Labor and the Coalition have struck a deal on aged

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Speaker 1: care funding in which many self unded retirees and part

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Speaker 1: pensioners will pay more for their care.

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Speaker 2: Prime Minister Anthony Albernizi called the Age Care Act the

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Speaker 2: greatest improvement to the sector in thirty years. It includes

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Speaker 2: next with four point three billion dollars for support at home,

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Speaker 2: which is forecast to reduce wait time to ren home care.

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Speaker 2: There's also new laws to protect older Australians at home,

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Speaker 2: but wealthier Australians. Wealthier older Australians will have to pay more,

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Speaker 2: and the deal will save the budget twelve point six

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Speaker 2: billion dollars over ten years. Both sides of politics have

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Speaker 2: been in negotiations over the past six months. Yesterday, Opposition

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Speaker 2: leader Peter Dunne said he wanted people to have dignity

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Speaker 2: as a age. Aged care costs the government about thirty

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Speaker 2: six billion dollars a year, one of the top five

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Speaker 2: spends in the federal budget. Notwithstanding yesterday's announcement, it will

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Speaker 2: keep rising, though aged care spending as a percent of

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Speaker 2: GDP better measure that'll fall under the deal. People already

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Speaker 2: in aged care homes are on the waiting list for

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Speaker 2: home care will be exempt.

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Speaker 1: There is a fairbee going on in Camber at the moment.

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Speaker 2: The sure is. Defense Minister Richard Miles said he'd stripped

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Speaker 2: Distinguished Service medals from several current and former Army commanders

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Speaker 2: for failing to prevent war crimes by Australian Special Force

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Speaker 2: soldiers in Afghanistan, though he won't identify those who will

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Speaker 2: lose their awards. The decision finalizes the government's response to

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Speaker 2: the Brereton War Crimes Inquiry, which found credible information that

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Speaker 2: twenty five Special Air Service soldiers unlawfully killed thirty nine

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Speaker 2: Afghan civilians and prisoners. Also, TLMP highly tinked seat of

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Speaker 2: North Sydney would be abolished before next year's federal election.

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Speaker 2: The ac Set of Review had unanimously accepted the proposed

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Speaker 2: boundaries released in May. Sydney will go the division of

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Speaker 2: Cook in Sydney Sutherland Shy will be altered to recognize

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Speaker 2: early Prime Minister Joseph Cook and Explorer Captain James Cook.

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Speaker 2: Also Labours scrabbed a criminal penalties for seriously vilifying minority

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Speaker 2: groups from its upcoming Hate Crimes Bill, and Labour also

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Speaker 2: plans to crack down on lies on social media by

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Speaker 2: adding political content into misinformation laws before the federal election.

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Speaker 2: That's likely to set up a dispute or at least

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Speaker 2: an argument about free speech.

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Speaker 1: Okay, I'm to story number two now. Former contest boss

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Speaker 1: Alan Joyce took home three point four million dollars last

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Speaker 1: financial year even though we only worked at the National

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Speaker 1: carrier for two months, while current CEO Vanessa Hudson had

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Speaker 1: her paypacket cut to four point four million.

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Speaker 2: The airline's annual report, published Yesterday's shows that the board

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Speaker 2: has decided MSS Hudson had exceeded expectations. Her pay included

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Speaker 2: a base one point four billion, short term bonuses of

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Speaker 2: over a million dollars, adding and long term incentive plans

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Speaker 2: other benefits four point four million dollars, but that was

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Speaker 2: down from nearly six million dollars the previous financial year.

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Speaker 2: Mister Joyce's pay would have been much more, but the

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Speaker 2: airline had already decided he wouldn't receive a nine point

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Speaker 2: two million dollar bonus after review of the company's governance.

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Speaker 2: His three point four million last year included three hundred

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Speaker 2: and eighty one thousand base pay for those couple of

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Speaker 2: months work another three point one five million in long

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Speaker 2: term bonuses.

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Speaker 1: Story number three. The boss of Nine Entertainment, Mike Sneezeby,

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Speaker 1: will leave the job at the end of the month,

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Speaker 1: with the search now on for a new CEO for

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Speaker 1: the country's largest listed media company.

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Speaker 2: It was a surprise announcement. It comes after a tough

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Speaker 2: period for Nine, including both falling profits and share price. Sneesby,

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Speaker 2: the architect of nine's Stan streaming service, was promoted to

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Speaker 2: the top jobs three and a half years ago. Since then,

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Speaker 2: the company's share price has fallen by more than fifty percent.

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Speaker 2: More recently, Sneezeby has been criticized for payouts to a

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Speaker 2: senior manager and broiled in an allegation of predatory behavior

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Speaker 2: that forced him to launch an investigation into the group's

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Speaker 2: workplace culture. Media is reporting that shareholders aren't happy with

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Speaker 2: the pace of change at nine, which owns television stations,

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Speaker 2: radio stations, eaming services and publishing assets. In a statement,

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Speaker 2: mister Sneedsby said he'd made the personal decision to consider

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Speaker 2: new opportunities, and the company's chief Financial and strategy Officer,

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Speaker 2: Matt Stanton, has been named interim CEO. While these search begins.

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Speaker 1: Story number four, What you maker? This one shown Regional Express.

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Speaker 1: The collapsed airline allegedly stole four planes from an aircraft's

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Speaker 1: graveyard in the Arizona Desert, stripping them for parts and

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Speaker 1: selling the rest. These are claims from an American aircraft

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Speaker 1: leasing and maintenance company.

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Speaker 2: The lawsuit filed by Jet Midwest and the Supreme Court

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Speaker 2: of New South Wales coms as REX is in administration.

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Speaker 2: According to report in the AFI, Jet Midwest alleges that

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Speaker 2: REX took possession of four SAB twin engine turbo props

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Speaker 2: at Kigman Airport, a form a military base in Arizona,

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Speaker 2: and shipped engines, propellers and other valuable parts to Australia.

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Speaker 2: It claims that REX asked that the wings be cut off.

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Speaker 2: They were then sold. Some of the profits from that

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Speaker 2: went to Rex. According to court filings, Jet Midwest had

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Speaker 2: agreed to sell Rex the aircraft in twenty nineteen for

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Speaker 2: two million US dollars. The airline paid a deposit of

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Speaker 2: two one hundred thousand US dollars, but didn't pay the rest,

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Speaker 2: requesting more time, citing a loss of innings during the

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Speaker 2: COVID nineteen pandemic, But with no payment made by June

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Speaker 2: twenty twenty, Jet Midwest alleges the sale contract was void.

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Speaker 2: The administrators of Rex weren't commenting yesterday.

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Speaker 1: Last one story number five. Taylor Swift, fresh from endorsing

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Speaker 1: Karmala Harris, has gone back to what she does best,

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Speaker 1: winning awards for her musical efforts.

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Speaker 2: She took home seven gons at the twenty twenty four

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Speaker 2: MTV Video Music Awards, taking her career total to thirty

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Speaker 2: in equaling Beyonce as the most awarded musician in Video

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Speaker 2: Music Award history. The Cruel Summer singer picked up the

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Speaker 2: prizes for Video of the Year for Fortnite featuring Post Malone,

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Speaker 2: Artists of the Year, and Best Collaboration among her record

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Speaker 2: equaling Hall at the fortieth edition of the annual event.

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Speaker 2: Swift also encouraged her fans who were over eighteen to

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Speaker 2: register to vote in the upcoming US election, though she

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Speaker 2: avoided directly mentioning her endorsement of Vice President Karmla Harris.

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Speaker 1: All right, there we go, the top five business stories

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Speaker 1: in five minutes. Thank you Sean, Thank you Michael. It

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Speaker 1: is Friday, the thirteenth of September twenty twenty four. Remember

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Speaker 1: to hit follow on the podcast and five minutes isn't enough.

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Speaker 1: You can find our longer daily show called Fear and

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Speaker 1: Greed wherever you listen to. Podcasts are Michael Thompson. And

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Speaker 1: that was the fast five business news by Fear and Greed.

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Speaker 1: Had a great day.