1 00:00:03,800 --> 00:00:06,560 Speaker 1: It's Wednesday, the twenty sixth of August twenty twenty five. 2 00:00:06,640 --> 00:00:09,320 Speaker 1: Welcome to the Fast five Business News by Fear and Grade, 3 00:00:09,320 --> 00:00:11,080 Speaker 1: where we give you the top five business stories you 4 00:00:11,119 --> 00:00:13,280 Speaker 1: need to know in just five minutes. Are Michael Thompson 5 00:00:13,320 --> 00:00:16,560 Speaker 1: and Good Morning Natalie McDonald's Good Morning Michael Natalie. Five 6 00:00:16,600 --> 00:00:19,080 Speaker 1: stories five minutes. Let's go. Story Number one's a big one. 7 00:00:19,120 --> 00:00:23,560 Speaker 1: Australia has severed diplomatic ties with Iran after Azio linked 8 00:00:23,640 --> 00:00:27,200 Speaker 1: the country to at least two anti Semitic attacks on 9 00:00:27,280 --> 00:00:28,160 Speaker 1: Australian soil. 10 00:00:28,560 --> 00:00:32,080 Speaker 2: The attacks, including the fires that gutted Sydney's Lewis's Continental 11 00:00:32,159 --> 00:00:36,120 Speaker 2: Kitchen and Melbourne's Addas Israel Synagogue last year, were reportedly 12 00:00:36,200 --> 00:00:40,839 Speaker 2: orchestrated by Iran's Islamic Revolutionary Guard Court using third parties. 13 00:00:41,280 --> 00:00:44,360 Speaker 2: The Iranian ambassador to Australia and three other officials have 14 00:00:44,520 --> 00:00:48,600 Speaker 2: been expelled with seven days to leave. Operations at Australia's 15 00:00:48,600 --> 00:00:52,280 Speaker 2: embassy in Iran have been suspended, with all Australian diplomats 16 00:00:52,320 --> 00:00:55,720 Speaker 2: already out of the country. The IRCG will be listed 17 00:00:55,760 --> 00:00:58,520 Speaker 2: as a terrorist organization, with new laws set to be 18 00:00:58,560 --> 00:01:02,760 Speaker 2: considered by Federal Parliament. And law enforcement investigations continue, though 19 00:01:02,840 --> 00:01:06,440 Speaker 2: authority stress Iran is not behind all anti Semitic acts 20 00:01:06,480 --> 00:01:07,600 Speaker 2: in Australia. Yeah. 21 00:01:07,600 --> 00:01:11,679 Speaker 1: The Prime Minister, Anthony Abernezi condemned the attacks as extraordinary 22 00:01:11,760 --> 00:01:14,640 Speaker 1: and dangerous acts of aggression. He held a press conference 23 00:01:14,680 --> 00:01:17,520 Speaker 1: outside Parliament House with the Foreign Minister Pennywong and the 24 00:01:17,520 --> 00:01:20,240 Speaker 1: Home Affairs Minister and the head of ASIO. Is a 25 00:01:20,400 --> 00:01:22,280 Speaker 1: very serious affair. 26 00:01:22,959 --> 00:01:25,320 Speaker 2: He said that the Australian people want the killing and 27 00:01:25,360 --> 00:01:27,440 Speaker 2: hatred to stop, and they don't want the conflict in 28 00:01:27,480 --> 00:01:30,080 Speaker 2: the Middle East brought here. Iran has sought to do 29 00:01:30,480 --> 00:01:32,800 Speaker 2: just that. They have sought to harm and terrified Jewish 30 00:01:32,840 --> 00:01:36,199 Speaker 2: Australians and to so hatred and division in our community. 31 00:01:36,760 --> 00:01:40,760 Speaker 2: And speaking of the Jewish community, advocacy groups welcoming the 32 00:01:40,760 --> 00:01:44,480 Speaker 2: decisive action, emphasizing it was long overdue. Foreign Minister at 33 00:01:44,520 --> 00:01:47,360 Speaker 2: Penny Wong noted it's actually the first expulsion of a 34 00:01:47,400 --> 00:01:50,640 Speaker 2: foreign ambassador in Australia since World War II, and there's 35 00:01:50,680 --> 00:01:53,320 Speaker 2: bipartisan support for the action as well, with the Opposition 36 00:01:53,440 --> 00:01:54,880 Speaker 2: backing the government's decision. 37 00:01:55,040 --> 00:01:57,559 Speaker 1: Okay, moving on to story number two. Now Australia Post 38 00:01:57,680 --> 00:02:02,120 Speaker 1: has suspended most parcelshipments to the United States effective immediately 39 00:02:02,400 --> 00:02:06,440 Speaker 1: ahead of new Trump administration tariffs on low value imports. 40 00:02:06,840 --> 00:02:09,720 Speaker 1: Only letters, documents and gifts under one hundred and fifty 41 00:02:09,720 --> 00:02:11,000 Speaker 1: dollars will still be delivered. 42 00:02:11,240 --> 00:02:14,120 Speaker 2: The move comes as the US ends an exemption which 43 00:02:14,120 --> 00:02:17,760 Speaker 2: previously allowed parcels under around twelve hundred dollars to enter 44 00:02:17,880 --> 00:02:21,320 Speaker 2: duty free. From Friday, all parcels below this threshold will 45 00:02:21,360 --> 00:02:25,960 Speaker 2: face tariffs or flat fees, forcing carriers worldwide, including Australia Post, 46 00:02:26,200 --> 00:02:30,600 Speaker 2: to pause services until further notice while they develop compliance solutions. 47 00:02:31,200 --> 00:02:34,640 Speaker 2: Australia Post is working with authorities and third party platforms 48 00:02:34,639 --> 00:02:37,600 Speaker 2: to implement a system for collecting duties and taxes, while 49 00:02:37,639 --> 00:02:41,800 Speaker 2: private courriers such as FedEx continue offering US deliveries with 50 00:02:41,919 --> 00:02:45,120 Speaker 2: uncertainty and potential cost of plenty. Some small businesses have 51 00:02:45,240 --> 00:02:48,560 Speaker 2: preemptively stopped US sales to avoid surprise fees. 52 00:02:49,080 --> 00:02:52,480 Speaker 1: Story number three Coles has reported a healthy full year 53 00:02:52,560 --> 00:02:57,079 Speaker 1: profit as theft prevention measures cut losses from shoplifting, even 54 00:02:57,120 --> 00:03:00,200 Speaker 1: as staff are facing more threatening incidents in store. 55 00:03:00,880 --> 00:03:03,440 Speaker 2: The coal's chief executives said stock loss had fallen back 56 00:03:03,480 --> 00:03:07,200 Speaker 2: to twenty fifteen levels after the rollout of security technologies 57 00:03:07,240 --> 00:03:11,679 Speaker 2: including smart gates, trolley scanning systems and enhanced camera monitoring. 58 00:03:12,120 --> 00:03:15,600 Speaker 2: While rival retailers continued to struggle with theft, Coal's sales 59 00:03:15,720 --> 00:03:18,720 Speaker 2: rose almost four percent to forty four billion dollars, with 60 00:03:18,840 --> 00:03:22,120 Speaker 2: underlying net profit grain to just over one billion. Its 61 00:03:22,160 --> 00:03:26,080 Speaker 2: grocery arm grew four point three percent, supported by deeper promotions, 62 00:03:26,120 --> 00:03:29,400 Speaker 2: locked in low prices and strong growth in online sales. 63 00:03:29,400 --> 00:03:33,040 Speaker 2: But another crime related stat for you, tobacco sales slumped 64 00:03:33,160 --> 00:03:36,920 Speaker 2: thirty percent amid a rise in illicit tobacco trade shares, 65 00:03:36,920 --> 00:03:39,320 Speaker 2: and coals finishing the day up eight point five percent. 66 00:03:40,120 --> 00:03:42,840 Speaker 1: Quantus is pushing to this is the story. Number four 67 00:03:43,000 --> 00:03:46,840 Speaker 1: enforce a clean shaven rule for all pilots and it 68 00:03:46,880 --> 00:03:48,760 Speaker 1: has got a lot of people upset. 69 00:03:49,360 --> 00:03:52,560 Speaker 2: While Quantus and Jetstar pilots already face a beard band, 70 00:03:52,680 --> 00:03:56,120 Speaker 2: Quantus Link staff have been exempt. In an effort to 71 00:03:56,160 --> 00:03:59,920 Speaker 2: introduce one standard, the airline commissioned a British aera medical 72 00:04:00,120 --> 00:04:03,920 Speaker 2: consultancy to argue that bids interfere with oxygen mask seals, 73 00:04:03,960 --> 00:04:08,440 Speaker 2: citing safety risks. Now, not only do US aviation researchers 74 00:04:08,480 --> 00:04:13,000 Speaker 2: dispute the findings, but the Australian International Pilots Association criticize 75 00:04:13,080 --> 00:04:17,840 Speaker 2: Quantus management for inconsistency, pointing out that cabin crew enjoy grooming, 76 00:04:17,880 --> 00:04:22,320 Speaker 2: flexibility and wet least partners, pilots can keep bids and 77 00:04:22,360 --> 00:04:25,360 Speaker 2: the pilots have been taking to the online forums, one 78 00:04:25,400 --> 00:04:28,560 Speaker 2: saying it is indicative of an arrogant Quantus management who 79 00:04:28,600 --> 00:04:32,080 Speaker 2: always feel they know best and enjoy lecturing all who listen. 80 00:04:32,720 --> 00:04:34,400 Speaker 1: You know what, I don't think I really care what 81 00:04:34,520 --> 00:04:36,320 Speaker 1: the pilot looks like, as long as they land the 82 00:04:36,320 --> 00:04:37,680 Speaker 1: plane safely. Don't you reckon? 83 00:04:37,839 --> 00:04:40,680 Speaker 2: That's yeah, I'd say that's pretty much my top concern. 84 00:04:40,800 --> 00:04:43,880 Speaker 1: Yeah. Indeed. Last one story number five, Roger Federer has 85 00:04:43,920 --> 00:04:47,920 Speaker 1: officially joined the billionaire club the Swiss tennis legend. Both 86 00:04:47,960 --> 00:04:51,120 Speaker 1: said net worth of one point one billion dollars according 87 00:04:51,120 --> 00:04:51,640 Speaker 1: to Forbes. 88 00:04:52,120 --> 00:04:54,920 Speaker 2: While Federer's twenty Grand Slam titles and one hundred and 89 00:04:54,960 --> 00:04:57,359 Speaker 2: thirty one million dollars in prize money put him among 90 00:04:57,440 --> 00:05:00,800 Speaker 2: tennis greats, it's his off court game made him wealthy, 91 00:05:00,960 --> 00:05:04,960 Speaker 2: including about one billion dollars from endorsements and appearances during 92 00:05:05,000 --> 00:05:08,279 Speaker 2: his career with brands like Rolegx, Mercedes, Benz and Uniclo. 93 00:05:08,720 --> 00:05:12,680 Speaker 2: His smartest play, though, a minority stake in Swiss shoe 94 00:05:12,720 --> 00:05:16,320 Speaker 2: brand On. It's now valued at nearly fifteen billion dollars, 95 00:05:16,560 --> 00:05:18,839 Speaker 2: giving him a slice worth over three hundred and seventy 96 00:05:18,839 --> 00:05:22,000 Speaker 2: five million bucks. But how's this for diversifying. He also 97 00:05:22,080 --> 00:05:25,200 Speaker 2: co founded the Labor Cup and invested in food tech 98 00:05:25,279 --> 00:05:28,760 Speaker 2: startup not Co. He is just the seventh athlete to 99 00:05:28,839 --> 00:05:32,159 Speaker 2: reach the three Comma club, alongside Michael Jordan, Tiger Woods, 100 00:05:32,240 --> 00:05:34,000 Speaker 2: Lebron James, and Loonel Messi. 101 00:05:34,200 --> 00:05:36,159 Speaker 1: All right, there we go, the top five business stories 102 00:05:36,160 --> 00:05:38,479 Speaker 1: in five minutes. Thank you Natalie, Thank you Michael. It 103 00:05:38,520 --> 00:05:41,200 Speaker 1: is Wednesday, the twenty seventh of August twenty twenty five. 104 00:05:41,240 --> 00:05:43,640 Speaker 1: Remember to hit follow on the podcast and five minutes 105 00:05:43,680 --> 00:05:45,920 Speaker 1: isn't enough. You're can find our longer daily show called 106 00:05:45,960 --> 00:05:49,320 Speaker 1: Fear and Grade wherever you listen to. Podcasts are Mirchael Thompson. 107 00:05:49,360 --> 00:05:51,279 Speaker 1: And that was the fast five business news by Fear 108 00:05:51,320 --> 00:05:52,680 Speaker 1: and Grade. Had a great day.