1 00:00:03,800 --> 00:00:06,680 Speaker 1: It's Monday, the twenty third of September twenty twenty four. 2 00:00:06,880 --> 00:00:09,560 Speaker 1: Welcome to the Fast five Business News by Fear and Greed, 3 00:00:09,600 --> 00:00:11,400 Speaker 1: where we give you the top five business stories you 4 00:00:11,480 --> 00:00:14,040 Speaker 1: need to know in just five minutes. I'm Michael Thompson 5 00:00:14,120 --> 00:00:15,440 Speaker 1: and good morning Adam Lang. 6 00:00:15,800 --> 00:00:17,520 Speaker 2: Good morning, Michael, Adam. 7 00:00:17,560 --> 00:00:18,800 Speaker 1: Five stories, five minutes. 8 00:00:18,840 --> 00:00:19,160 Speaker 2: Let's go. 9 00:00:19,200 --> 00:00:22,880 Speaker 1: Story number one. Australia's critical mineral exporters are closer to 10 00:00:22,960 --> 00:00:26,799 Speaker 1: winning US subsidies following Quad Leaders talks on the weekend, 11 00:00:27,200 --> 00:00:30,800 Speaker 1: as allies step up coordinated efforts to counter China's dominance 12 00:00:30,840 --> 00:00:34,159 Speaker 1: of a sector that is crucial for the green energy transition. 13 00:00:34,479 --> 00:00:35,080 Speaker 2: Yes Michael. 14 00:00:35,120 --> 00:00:38,720 Speaker 3: Prime Minister Anthony Alberzi pressed US President Joe Biden on 15 00:00:38,760 --> 00:00:42,360 Speaker 3: the need to classify Australia's critical minerals as American maid 16 00:00:42,760 --> 00:00:45,800 Speaker 3: to win favorable treatment during their talks on the sidelines 17 00:00:45,800 --> 00:00:49,440 Speaker 3: of the Quadrilateral Security Dialogue in Delaware. Mister Biden hosted 18 00:00:49,440 --> 00:00:52,279 Speaker 3: Mister Albanzi and the leaders of India and Japan at 19 00:00:52,280 --> 00:00:55,920 Speaker 3: his home and former high school in Wilmington yesterday. Following 20 00:00:55,920 --> 00:00:58,720 Speaker 3: the discussions, the leaders stepped up the tough language on 21 00:00:58,800 --> 00:01:02,440 Speaker 3: China's increasing aggression in the South China Sea and efforts 22 00:01:02,480 --> 00:01:06,080 Speaker 3: to disrupt other countries' development of fishing and other resources. 23 00:01:06,080 --> 00:01:08,560 Speaker 3: And that's according to report in the Australian Financial Review, 24 00:01:08,920 --> 00:01:11,360 Speaker 3: Mister Biden was caught on a hot microphone telling other 25 00:01:11,400 --> 00:01:16,240 Speaker 3: CORD leaders that China's President Xijingping was testing the Western allies. 26 00:01:16,880 --> 00:01:19,720 Speaker 1: So Joe Biden will end his presidency in four months. 27 00:01:19,840 --> 00:01:23,280 Speaker 1: Japanese Prime Minister Fumio Kashita is also stepping down, So 28 00:01:23,319 --> 00:01:25,880 Speaker 1: that's two of the four Quad leaders. What can Australia 29 00:01:25,959 --> 00:01:30,360 Speaker 1: get out of the obvious war relations between Joe Biden 30 00:01:30,400 --> 00:01:33,000 Speaker 1: and Anthony Albanesi before the former goes. 31 00:01:33,160 --> 00:01:37,040 Speaker 3: Hopefully, Michael, It's favored treatment for Australia's mining companies. Australia 32 00:01:37,080 --> 00:01:39,280 Speaker 3: and the United States have been in talks about allowing 33 00:01:39,319 --> 00:01:43,440 Speaker 3: our minerals companies to get American subsidized loans if, for example, 34 00:01:43,680 --> 00:01:47,200 Speaker 3: they send minerals to US electric vehicle manufacturers for batteries 35 00:01:47,200 --> 00:01:51,560 Speaker 3: and other components, such as exports from Japan and South Korea. Effectively, 36 00:01:51,600 --> 00:01:55,040 Speaker 3: Australian critical minerals companies would be treated as Americans under 37 00:01:55,080 --> 00:01:58,480 Speaker 3: the massive spending in the Inflation Reduction Act. That would 38 00:01:58,480 --> 00:02:00,880 Speaker 3: be a boon for local companies, though it isn't clear 39 00:02:00,880 --> 00:02:03,280 Speaker 3: what a Donald Trump administration would think about such an 40 00:02:03,360 --> 00:02:04,559 Speaker 3: arrangement al right. 41 00:02:04,560 --> 00:02:06,320 Speaker 1: Moving on to story number two. Now is a very 42 00:02:06,320 --> 00:02:09,240 Speaker 1: big week for auctions, with two thousand, seven hundred properties 43 00:02:09,280 --> 00:02:12,359 Speaker 1: going under the hammer, and the four inclearance rates supports 44 00:02:12,400 --> 00:02:16,400 Speaker 1: the argument that it is in fact becoming a buyer's market, Michael. 45 00:02:16,400 --> 00:02:18,960 Speaker 3: It was the biggest weekend for auctions since Easter. The 46 00:02:19,040 --> 00:02:22,160 Speaker 3: nationwide preliminary clearance rate of sixty eight point two percent 47 00:02:22,360 --> 00:02:24,920 Speaker 3: is the second lowest this year, and that's after the 48 00:02:24,919 --> 00:02:27,840 Speaker 3: weekend in June ninth, that's the King's Birthday long weekend 49 00:02:27,880 --> 00:02:31,280 Speaker 3: in some states. Melbourne hosted the largest volume of auctions, 50 00:02:31,320 --> 00:02:33,720 Speaker 3: with one thy two hundred and seventy four homes going 51 00:02:33,800 --> 00:02:36,160 Speaker 3: under the hammer. The clearance rate came in at sixty 52 00:02:36,160 --> 00:02:39,040 Speaker 3: eight point three percent. Nine hundred and ninety five auctions 53 00:02:39,040 --> 00:02:42,080 Speaker 3: were held in Sydney and seventy point three percent was successful. 54 00:02:42,280 --> 00:02:45,440 Speaker 3: Adelaide recorded the most auctions across the smaller capitals, with 55 00:02:45,520 --> 00:02:47,640 Speaker 3: two hundred and six homes taking a market and a 56 00:02:47,639 --> 00:02:50,920 Speaker 3: preliminary clearance rate of seventy four point six percent. Brisbane 57 00:02:50,960 --> 00:02:52,680 Speaker 3: came in at fifty six point eight percent and the 58 00:02:52,680 --> 00:02:55,800 Speaker 3: ACT forty eight point six percent. And all that data 59 00:02:55,840 --> 00:02:57,279 Speaker 3: is according to core Logic. 60 00:02:57,360 --> 00:03:01,680 Speaker 1: Story number three Yogurt Adam Yogurt stories on fear and greed. 61 00:03:01,720 --> 00:03:04,720 Speaker 1: Yogat is on a tear at the moment, sales booming, 62 00:03:05,080 --> 00:03:09,160 Speaker 1: particularly tubs with added protein or reduced sugar. How about this. 63 00:03:09,360 --> 00:03:13,040 Speaker 1: Yogurt has been growing far more quickly than other dairy products, 64 00:03:13,080 --> 00:03:16,920 Speaker 1: with consumers now spending one point nine two billion dollars 65 00:03:16,960 --> 00:03:18,200 Speaker 1: annually on the category. 66 00:03:18,280 --> 00:03:19,680 Speaker 2: That is a lot of yogurt. Yeah. 67 00:03:19,720 --> 00:03:22,320 Speaker 3: Michael Bieger, which is the biggest producer of yogurt with 68 00:03:22,400 --> 00:03:26,240 Speaker 3: brands including Farmers Union, Dairy Farmers and Yoplay, said industry 69 00:03:26,240 --> 00:03:29,560 Speaker 3: wide yogat sales grew eleven percent last year and that 70 00:03:29,600 --> 00:03:33,320 Speaker 3: easily outstrips fresh milk, where sales industry wide rows two 71 00:03:33,360 --> 00:03:35,920 Speaker 3: percent to two point one five billion, So yogurt is 72 00:03:35,960 --> 00:03:38,880 Speaker 3: catching up on milk. Yogurt can be nutrient rich, and 73 00:03:38,960 --> 00:03:43,400 Speaker 3: supermarkets of long sole varieties marketed as probiotic, which maintains 74 00:03:43,440 --> 00:03:46,120 Speaker 3: the so called good bacteria in the body. Research now 75 00:03:46,160 --> 00:03:49,200 Speaker 3: suggests that regularly eating yogurt reduces the risk of type 76 00:03:49,240 --> 00:03:52,880 Speaker 3: two diabetes. Dietitians have also begun to recommend high protein 77 00:03:52,960 --> 00:03:55,520 Speaker 3: yogurt for muscle gain. That's according to report in the 78 00:03:55,520 --> 00:03:59,240 Speaker 3: Austrain and Financial Review. Coles said customers are buying larger 79 00:03:59,280 --> 00:04:02,480 Speaker 3: types of yogat as family budgets are squeezed as well 80 00:04:02,520 --> 00:04:05,080 Speaker 3: as single serves. The boom has been helpful to the 81 00:04:05,120 --> 00:04:08,400 Speaker 3: ASX listed BIGA. Its share price is up nearly ninety 82 00:04:08,400 --> 00:04:09,760 Speaker 3: percent over the last year. 83 00:04:10,440 --> 00:04:13,200 Speaker 1: Have you ever said yogat more times in your life 84 00:04:13,240 --> 00:04:15,520 Speaker 1: than in the last forty five seconds. It's at at 85 00:04:15,520 --> 00:04:17,040 Speaker 1: about twenty six. 86 00:04:16,880 --> 00:04:19,680 Speaker 2: Times yoga yogat. Marsha, Marsha, Marsha. 87 00:04:19,920 --> 00:04:22,760 Speaker 1: I'm actually starting to get a yogat craving now thanks 88 00:04:22,760 --> 00:04:23,040 Speaker 1: to that. 89 00:04:24,920 --> 00:04:25,200 Speaker 2: Story. 90 00:04:25,279 --> 00:04:29,400 Speaker 1: Number Four's a slight kind of change from yogurt to 91 00:04:29,720 --> 00:04:33,000 Speaker 1: Swiss watchmakers. They are warning of a worsening outlook for 92 00:04:33,040 --> 00:04:35,800 Speaker 1: the industry as the cost of living crunch hits buyers, 93 00:04:36,040 --> 00:04:39,240 Speaker 1: though demand does remain strong at the very top end. 94 00:04:39,560 --> 00:04:41,080 Speaker 2: I find this fascinating, Michael. 95 00:04:41,120 --> 00:04:44,720 Speaker 3: According to the Federation of the Swiss Watch Industry, exports 96 00:04:44,839 --> 00:04:47,520 Speaker 3: rose last month due to demand for expensive watches made 97 00:04:47,560 --> 00:04:50,200 Speaker 3: of precious metals. However, it said that the prospects for 98 00:04:50,200 --> 00:04:52,680 Speaker 3: the industry are still negative, as is the outlook for 99 00:04:52,720 --> 00:04:55,200 Speaker 3: the rest of the year. Demand for mid and entry 100 00:04:55,279 --> 00:04:58,880 Speaker 3: level priced watches has fallen sharply, while more costly time 101 00:04:58,920 --> 00:05:02,839 Speaker 3: pieces had fared. What is an expensive watch The Swiss 102 00:05:02,839 --> 00:05:05,960 Speaker 3: put it at three thousand francs or about five two 103 00:05:06,000 --> 00:05:09,440 Speaker 3: hundred Australian dollars. Most of the slowdown reflects demand from 104 00:05:09,520 --> 00:05:12,440 Speaker 3: China and Hong Kong, while purchases from Japan and to 105 00:05:12,480 --> 00:05:15,440 Speaker 3: a lesser extent, the US and Singapore remained solid. 106 00:05:15,920 --> 00:05:18,919 Speaker 1: Last one story number five, The dead celebrity industry is 107 00:05:19,000 --> 00:05:23,000 Speaker 1: growing adaman becoming more and more lucrative thanks to artificial intelligence, 108 00:05:23,040 --> 00:05:26,080 Speaker 1: of course, with the estates of pop stars to actors 109 00:05:26,200 --> 00:05:28,840 Speaker 1: earning millions of dollars Michael. 110 00:05:28,920 --> 00:05:32,039 Speaker 3: Despite Michael Jackson being about five hundred million in debt 111 00:05:32,080 --> 00:05:34,760 Speaker 3: at the time of his death, his estate has amassed 112 00:05:34,760 --> 00:05:38,640 Speaker 3: a fortune of two billion dollars according to People, thanks 113 00:05:38,680 --> 00:05:42,280 Speaker 3: to projects such as a jukebox musical and even posthumous 114 00:05:42,279 --> 00:05:45,080 Speaker 3: albums featuring work made while he was still alive. The 115 00:05:45,200 --> 00:05:48,760 Speaker 3: estates of James Dean, Judy Garland, Lawrence Olivier and Burt 116 00:05:48,800 --> 00:05:53,040 Speaker 3: Reynolds have all signed with AI Voice cloning group eleven Labs. 117 00:05:53,240 --> 00:05:56,839 Speaker 3: As part of the company's Iconic Voices project. The actors 118 00:05:56,839 --> 00:06:00,760 Speaker 3: now narrate books, articles and other text material, and according 119 00:06:00,760 --> 00:06:04,040 Speaker 3: to Bloomberg, Judy Garland can now read you. The Wonderful 120 00:06:04,080 --> 00:06:07,720 Speaker 3: Wizard of Oz. Albert Einstein and mathematician Alan Churing are 121 00:06:07,720 --> 00:06:11,400 Speaker 3: set to deliver master classes next year via eleven Labs. However, 122 00:06:11,480 --> 00:06:14,760 Speaker 3: perhaps the biggest test of AI will arrive early next 123 00:06:14,800 --> 00:06:19,040 Speaker 3: spring when Elvis Evolution premieres at Excel London. The King 124 00:06:19,080 --> 00:06:21,359 Speaker 3: of rock and Roll will perform for the first time 125 00:06:21,520 --> 00:06:22,960 Speaker 3: in more than forty five years. 126 00:06:23,240 --> 00:06:25,320 Speaker 1: All right, there we go, the top five business stories 127 00:06:25,320 --> 00:06:26,000 Speaker 1: in five minutes. 128 00:06:26,000 --> 00:06:27,600 Speaker 2: Thank you Adam, Thank you Michael. 129 00:06:27,920 --> 00:06:30,839 Speaker 1: It is Monday, the twenty third of September twenty twenty four. 130 00:06:30,960 --> 00:06:33,640 Speaker 1: Remember to hit follow on the podcast, and if five 131 00:06:33,640 --> 00:06:35,960 Speaker 1: minutes isn't enough, you can find our longer daily show 132 00:06:36,040 --> 00:06:39,120 Speaker 1: called Fear and Greed whereever you listen to podcasts. I'm 133 00:06:39,160 --> 00:06:41,400 Speaker 1: Michael Thompson and that was the fast five business news 134 00:06:41,400 --> 00:06:43,159 Speaker 1: by Fear and Greed. Have a great day.