1 00:00:03,920 --> 00:00:06,840 Speaker 1: It's Thursday, the fifth of February twenty twenty six. Welcome 2 00:00:06,880 --> 00:00:09,320 Speaker 1: to the Fast five Business News by Fear and Greed, 3 00:00:09,320 --> 00:00:11,119 Speaker 1: where we give you the top five business stories you 4 00:00:11,160 --> 00:00:13,280 Speaker 1: need to know in just five minutes. Oh Michael Thompson 5 00:00:13,280 --> 00:00:14,680 Speaker 1: and good morning Sean Aylmer. 6 00:00:14,880 --> 00:00:16,440 Speaker 2: Good morning, Michael, Seawan. 7 00:00:16,520 --> 00:00:18,600 Speaker 1: Five stories, five minutes. Let's go a story number one. 8 00:00:18,640 --> 00:00:22,400 Speaker 1: The federal government is considering scaling back the fifty percent 9 00:00:22,600 --> 00:00:26,160 Speaker 1: capital gains tax deduction for property investors. It's a key 10 00:00:26,239 --> 00:00:28,040 Speaker 1: driver of the market, though it still needs to be 11 00:00:28,080 --> 00:00:29,760 Speaker 1: worked through Cabinet and the Labor Party. 12 00:00:30,160 --> 00:00:32,640 Speaker 2: The IFR is reporting that the government's considering the mover's 13 00:00:32,680 --> 00:00:35,560 Speaker 2: part of what Prime Minister Anthony Albernezi called is calling 14 00:00:35,600 --> 00:00:38,120 Speaker 2: a reform budget in May. The tax break was introduced 15 00:00:38,280 --> 00:00:43,280 Speaker 2: during the Howard government. Economists, Greens, Unions, independents, welfare groups 16 00:00:43,440 --> 00:00:46,760 Speaker 2: have all supported pairing it back significantly. After last year's 17 00:00:46,760 --> 00:00:49,960 Speaker 2: federal election, Labor could pass any legislation only with the 18 00:00:49,960 --> 00:00:51,960 Speaker 2: support of the Greens. It doesn't need to deal with 19 00:00:52,000 --> 00:00:55,680 Speaker 2: the opposition parties. Jim Chalmers, a treasurer, said the government's 20 00:00:55,680 --> 00:01:00,520 Speaker 2: current focus and emphasis on current is about boosting the 21 00:01:00,560 --> 00:01:03,800 Speaker 2: supply of housing. He said any shift in the capital 22 00:01:03,800 --> 00:01:06,440 Speaker 2: gains tax would be a matter for cabinet. He did 23 00:01:06,680 --> 00:01:11,520 Speaker 2: have Treasury examining create models of what the capital gains 24 00:01:11,560 --> 00:01:15,680 Speaker 2: tax deduction would look like in late twenty twenty four. Now, 25 00:01:15,800 --> 00:01:18,120 Speaker 2: for its part, the federal opposition signaled that it would 26 00:01:18,160 --> 00:01:21,199 Speaker 2: fight any move to pair back to discount. One senior 27 00:01:21,200 --> 00:01:24,880 Speaker 2: liberal suggested that maybe the opposition parties wouldn't be that 28 00:01:25,080 --> 00:01:28,959 Speaker 2: adverse to knocking it back a bit. The Green's definitely 29 00:01:29,040 --> 00:01:31,280 Speaker 2: all in favor of it. If it went a. 30 00:01:31,200 --> 00:01:34,559 Speaker 1: Headsh this would be a major reform for the housing market. 31 00:01:34,640 --> 00:01:37,920 Speaker 1: Could well reduce demand, taking some of the heat out 32 00:01:37,920 --> 00:01:40,800 Speaker 1: of the housing crisis. The losers, though, of course, of 33 00:01:40,840 --> 00:01:42,600 Speaker 1: those who want to buy an investment property. 34 00:01:42,920 --> 00:01:45,279 Speaker 2: Yeah. So the discount introduced by then Treasure repead Castello 35 00:01:45,280 --> 00:01:47,760 Speaker 2: in nineteen ninety nine applies twenty asset held for at 36 00:01:47,840 --> 00:01:50,080 Speaker 2: least twelve months. So if you buy a household of 37 00:01:50,120 --> 00:01:51,960 Speaker 2: two months sell it, you make a two hundred thousand 38 00:01:52,000 --> 00:01:54,520 Speaker 2: dollars capital gain. You're only getting taxed on half of that, 39 00:01:54,600 --> 00:01:56,960 Speaker 2: on one hundred thousand dollars given labour went to the 40 00:01:57,000 --> 00:01:59,360 Speaker 2: twenty sixteen and twenty nineteen elections, promising to pair it 41 00:01:59,480 --> 00:02:04,760 Speaker 2: back and lost. It is a hot button issue. In 42 00:02:04,800 --> 00:02:07,680 Speaker 2: both those cases, the legislation was not retrospective, just in 43 00:02:07,680 --> 00:02:10,520 Speaker 2: case we think this might get up, so it'll be 44 00:02:10,520 --> 00:02:14,040 Speaker 2: interesting one to watch, but clearly where or there's smoke 45 00:02:14,120 --> 00:02:15,400 Speaker 2: around and there could be fire. 46 00:02:16,040 --> 00:02:18,560 Speaker 1: Okay, let's move on to story number two. Now, there 47 00:02:18,560 --> 00:02:20,880 Speaker 1: are a few signs. I suppose you'd say that the 48 00:02:20,919 --> 00:02:23,600 Speaker 1: Federal Nationals and Liberals will reunite by the end of 49 00:02:23,600 --> 00:02:26,600 Speaker 1: the week. That was the deadline imposed by Liberal leader 50 00:02:26,639 --> 00:02:28,960 Speaker 1: Susan Lee that, if not met, would see the Nats 51 00:02:29,000 --> 00:02:31,600 Speaker 1: banished to the backbenches until the next election. 52 00:02:32,120 --> 00:02:35,160 Speaker 2: Lee put forward a proposal to reunite. As a condition, 53 00:02:36,240 --> 00:02:39,400 Speaker 2: three National MPs who broke cabinet solidarity over hate speech 54 00:02:39,600 --> 00:02:41,840 Speaker 2: laws would have to spend six months in the sinbin. 55 00:02:42,080 --> 00:02:44,120 Speaker 2: Now a counter offic was put forward by Little Powder, 56 00:02:44,120 --> 00:02:47,000 Speaker 2: but media this morning is saying the name breakthrough. According 57 00:02:47,000 --> 00:02:50,040 Speaker 2: to the MPs who are familiar with the negotiations, little 58 00:02:50,120 --> 00:02:52,560 Speaker 2: chance of any compromise given the hardlines drawn by Lee, 59 00:02:52,800 --> 00:02:55,440 Speaker 2: Little Power and their respective party rooms. Shawn. 60 00:02:55,520 --> 00:02:58,200 Speaker 1: Story number three. The tech stocks yesterday got hammered, while 61 00:02:58,240 --> 00:03:01,519 Speaker 1: the commodity and energy play surged. 62 00:03:01,600 --> 00:03:03,600 Speaker 2: So much coming on at the moment. So gold bounced 63 00:03:03,639 --> 00:03:06,280 Speaker 2: yes day back above five thousand US dollars announced. That 64 00:03:06,320 --> 00:03:09,880 Speaker 2: helped companies like Northern Star, Regis Resources. Newmon copper prices 65 00:03:09,960 --> 00:03:14,240 Speaker 2: jump help BHPN BHP hit a fifty two week high 66 00:03:14,400 --> 00:03:16,519 Speaker 2: yesterday it returned to the top of the ASEX. In 67 00:03:16,600 --> 00:03:19,680 Speaker 2: terms of market capitalization. Price of oil has been going up. 68 00:03:19,760 --> 00:03:23,440 Speaker 2: That's helped companies like Woodside and Santos. The coal companies 69 00:03:23,440 --> 00:03:25,160 Speaker 2: also had a good day on the back of news 70 00:03:25,160 --> 00:03:28,239 Speaker 2: at China last year a record number of new coal 71 00:03:28,280 --> 00:03:32,200 Speaker 2: five power stations. There's still life in coal. By the end, 72 00:03:32,280 --> 00:03:34,560 Speaker 2: the SMP was up about one percent. But the textocks 73 00:03:34,600 --> 00:03:37,960 Speaker 2: have really been hammered off night in the Tech index 74 00:03:37,960 --> 00:03:40,280 Speaker 2: on the ASEX off nine percent yesterday, more than seventeen 75 00:03:40,320 --> 00:03:43,960 Speaker 2: percent this year. Basically a lot of selling on Wall 76 00:03:43,960 --> 00:03:47,200 Speaker 2: Street concerns and artificial intelligence could hit demand for these 77 00:03:47,240 --> 00:03:49,960 Speaker 2: companies products now. The local textalks are working hard to 78 00:03:50,000 --> 00:03:53,120 Speaker 2: integrate AI into their products. Market ain't say sure. Yesterday 79 00:03:53,240 --> 00:03:56,280 Speaker 2: Zero was down fifteen percent three year low. Y sect 80 00:03:56,280 --> 00:03:58,760 Speaker 2: Global and Tech one both down eleven percent. 81 00:03:59,400 --> 00:04:02,560 Speaker 1: Okay, Storing number four Australian Super really the dawen of 82 00:04:02,600 --> 00:04:06,360 Speaker 1: the industry superfund sector has reported net outflows for a 83 00:04:06,400 --> 00:04:09,160 Speaker 1: financial year for the first time in more than two decades. 84 00:04:09,440 --> 00:04:11,520 Speaker 2: Yeah, two hundred and fifty million dollars and four hundred 85 00:04:11,520 --> 00:04:14,320 Speaker 2: billion dollars in funds under management ain't that much, but 86 00:04:14,440 --> 00:04:18,599 Speaker 2: it is a negative. It reflects active switching of funds 87 00:04:18,680 --> 00:04:23,760 Speaker 2: by people with superannuation policies, not so much market performance. 88 00:04:23,800 --> 00:04:27,000 Speaker 2: So basically people are shifting from the super funds to 89 00:04:27,120 --> 00:04:29,960 Speaker 2: more advise that focused wealth platforms. Winners are like Hub 90 00:04:30,000 --> 00:04:34,599 Speaker 2: twenty four net Wealth mcquarie that crowd around seventy eight 91 00:04:34,720 --> 00:04:38,239 Speaker 2: billion dollars in funds under management rolled in and out 92 00:04:38,279 --> 00:04:41,720 Speaker 2: of funds in the last financial year. More than half 93 00:04:41,720 --> 00:04:44,520 Speaker 2: of these switches involved the financial advisor, and it's definitely 94 00:04:44,560 --> 00:04:48,200 Speaker 2: the industry funds that are losing out. Ironically frustrating, super 95 00:04:48,320 --> 00:04:50,440 Speaker 2: its investment returns over the past ten years or about 96 00:04:50,480 --> 00:04:54,120 Speaker 2: eight percent in its most popular balanced portfolio, well ahead 97 00:04:54,120 --> 00:04:56,680 Speaker 2: of the industry medium of seven point two percent. 98 00:04:57,200 --> 00:04:59,800 Speaker 1: All right, last one sean sorry number five. Almost half 99 00:04:59,800 --> 00:05:03,080 Speaker 1: a trillion dollars has been wiped off cryptocurrencies in less 100 00:05:03,120 --> 00:05:06,200 Speaker 1: than a week as a selloff led by bitcoin accelerates. 101 00:05:06,920 --> 00:05:10,520 Speaker 2: Title. Market value of kryptos has fallen by four hundred 102 00:05:10,560 --> 00:05:13,360 Speaker 2: and sixty seven point six billion US dollars since January 103 00:05:13,360 --> 00:05:16,680 Speaker 2: twenty nine. According to coin Gecko data, Bitcoin in the 104 00:05:16,720 --> 00:05:19,320 Speaker 2: past thirty six hours has tumbled to its lowest level 105 00:05:19,360 --> 00:05:22,719 Speaker 2: since US President Donald Trump won re election. Hital of 106 00:05:22,920 --> 00:05:25,360 Speaker 2: seventy two eight hundred and seventy seven US dollars a 107 00:05:25,440 --> 00:05:28,280 Speaker 2: unit early yesterday morning gave about forty percent since its peak. 108 00:05:29,120 --> 00:05:31,440 Speaker 2: Since that peak, crypto as has generally have lost one 109 00:05:31,440 --> 00:05:35,040 Speaker 2: point seven billion dollars. Basically, bitcoin was considered a safe 110 00:05:35,080 --> 00:05:38,640 Speaker 2: haven status at one point. That's very much fallen away. 111 00:05:39,040 --> 00:05:43,039 Speaker 2: The idea that it's digital cold hasn't convinced investors, and 112 00:05:43,440 --> 00:05:46,880 Speaker 2: the geopolitical uncertainty is not helping that particular currency. 113 00:05:47,360 --> 00:05:49,520 Speaker 1: All right, there we go, the top five business stories 114 00:05:49,520 --> 00:05:51,000 Speaker 1: in five minutes. Thank you very much, Sean. 115 00:05:51,360 --> 00:05:52,039 Speaker 2: Thanks Michael. 116 00:05:52,320 --> 00:05:55,279 Speaker 1: It's Thursday, the fifth of February twenty twenty six. Remember 117 00:05:55,320 --> 00:05:57,559 Speaker 1: to hit follow on the podcast, and if five minutes 118 00:05:57,640 --> 00:05:59,760 Speaker 1: isn't enough, we can find our longer daily show called 119 00:06:00,200 --> 00:06:03,000 Speaker 1: and Grade wherever you listen to podcasts. I'm Michael Thompson 120 00:06:03,040 --> 00:06:04,800 Speaker 1: and that was the fast five Business news by Fear 121 00:06:04,839 --> 00:06:08,960 Speaker 1: and Grade. A great day, m HM.