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Speaker 1: Welcome to the weekend edition of the Fast five Business

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Speaker 1: News by Fear and Greed. I'm Adam Lang and hello.

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Speaker 2: Sean Almer, Hello Adam.

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Speaker 1: On weekdays, it's all about the Fast five, the top

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Speaker 1: five business stories you need to know in just five minutes.

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Speaker 1: On the weekend though, we're still going to keep it

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Speaker 1: to five minutes, but we're going to pick out the

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Speaker 1: biggest story of the week, the sleeper story, the most

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Speaker 1: remarkable story of the week, and our favorite story. So

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Speaker 1: let's get into it. Sean, what was your choice for

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Speaker 1: biggest story of the week.

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Speaker 2: I think we'll agree that the biggest story of the

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Speaker 2: week is what's going on in markets. With a little

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Speaker 2: bit of Australian economics thrown in. Bitcoin's value surged nearly

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Speaker 2: ninety thousand US dollars a unit fueled by Donald Trump's

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Speaker 2: election win and a new Congress filled with crypto friendly politicians.

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Speaker 2: The US dollars surging, that's pushing the Aussie dollar down

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Speaker 2: towards that sixty four US sent mark bond yields, which

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Speaker 2: forecast future interest rates, they're rising. We had the US

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Speaker 2: Fed chair Jerome Powell saying he's in no hurry to

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Speaker 2: cut rates in Australian National. Australian Bankers come out and

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Speaker 2: pushed its forecast for a rate cut until May next year.

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Speaker 2: The Commwalth Banks map common the boss he sounded unconvinced

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Speaker 2: of his forecast for a rate cut in February, where

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Speaker 2: equity markets are surging. Although last time Trump came to

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Speaker 2: Power that actually gone backwards for twelve months. This time

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Speaker 2: he's hit Power and they've been up about twenty percent.

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Speaker 2: That's Wall Street. Not sure how sustainable that is. You

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Speaker 2: add in the unemployment figure this week of four point

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Speaker 2: one percent, fewer new jobs created than the previous six months.

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Speaker 2: Plenty going on in markets, Adam.

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Speaker 1: Yeah, Sean, And in the most remarkable story of the

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Speaker 1: week category, we've got a ripper out of Marley. Tell

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Speaker 1: us about it, Sean.

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Speaker 2: Well, what's going on is pretty remarkable. The boss of

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Speaker 2: Resolute Mining, Terry Hollahan, and two others are being held

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Speaker 2: over a two hundred and fifty million dollar tax dispute.

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Speaker 2: The Marlian government, a ruling military junta, want greater controller

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Speaker 2: over the mining industry than want thirty percent of each mine.

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Speaker 2: It just seems that they're demanding about two hundred and

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Speaker 2: fifty million dollars from Resolute. We all hope mister Hollahan

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Speaker 2: and his two executives are okay. They residents share prices

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Speaker 2: down forty percent over the past week. Over this since

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Speaker 2: this came out, very risky business working in some of

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Speaker 2: these countries. What about you, What do you think is

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Speaker 2: the most remarkable story?

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Speaker 1: Yeah, Sean In Australia, it's those rising domestic airfares post

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Speaker 1: the REX collapse that we're seeing. So domestic airfares have

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Speaker 1: sword following Regional Express's exit from key metropolitan routes, and

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Speaker 1: this is highlighted Australia's airline competition crisis, with Quantus, Jetstar

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Speaker 1: and Virgin now controlling ninety eight percent of the market.

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Speaker 1: And a Triple C report this week shows that since

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Speaker 1: the end of July, prices on big city routes are

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Speaker 1: up thirteen point three percent last quarter, even though fuel

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Speaker 1: costs are forty percent lower than a year ago. So

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Speaker 1: some prices on certain routes have jumped by up to

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Speaker 1: ninety five percent, and that obviously sheds a consumer friendly

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Speaker 1: light on maintaining competitive pressure in essential industries. The federal

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Speaker 1: government's eighty million dollar bailout for REX is only a

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Speaker 1: temporary fix to keep them flying those regional routes until

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Speaker 1: June next year, which happens to be after the next

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Speaker 1: federal election. Sean, So let's have a look at Sleeper's story.

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Speaker 1: What have you got?

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Speaker 2: I think the drums a beating for the superannuation industry,

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Speaker 2: a four trillion dollar honey pot that's largely grained without

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Speaker 2: too much government intervention. This week it emerged that ACIG,

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Speaker 2: the corporate watchdog, has launched action against one of the

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Speaker 2: biggest funds, sea Bus, alleging that they the fund delayed

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Speaker 2: paying up to twenty million dollars in death and disability payments.

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Speaker 2: If the claim is proven in court, the fund could

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Speaker 2: face fines between thirty three million and forty nine million dollars.

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Speaker 2: Not sure where that money would come from. CEO Christian

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Speaker 2: apologized for what happened. The question I have over this

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Speaker 2: is whether the delay in benefit payments is just a

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Speaker 2: Sea Bus thing. I'm sure that every fund at the

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Speaker 2: moment is scampering around to make sure it isn't one

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Speaker 2: of them. We've had the Banking Royal Commission, We've had

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Speaker 2: the supermarket scandal, We've had the airlines by UP. I

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Speaker 2: just reckon. The super funds are next in line to

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Speaker 2: feel the blow torch of scrutiny.

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Speaker 1: What about you, Adam, Yeah, look, Sean, I agree with

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Speaker 1: that one. And also for me, is this slowing wage

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Speaker 1: growth and its implication for rate cuts. So wage growth

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Speaker 1: in Australia has slowed, with public sector wages now outpacing

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Speaker 1: private sector wages for the first time in four years.

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Speaker 1: This development, though seemingly quiet maybe a little envy inspiring

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Speaker 1: from us in the private sector, is a sleeper story

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Speaker 1: with big implications. Lower wage growth helps relieve inflation pressure,

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Speaker 1: making the case for interest rate cuts stronger as early

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Speaker 1: as next year.

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Speaker 2: Okay, Adam, what about your favorite story, Sean?

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Speaker 1: For me, it's the federal government backing social media access

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Speaker 1: for over sixteens. So the Australian government's proposal to restrict

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Speaker 1: social media access to individuals sixteen and older has actually

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Speaker 1: really captured public interest, especially among parents and commercial competitors

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Speaker 1: to big social media. The policy aims to protect younger

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Speaker 1: users from the mental health impacts of social media, and

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Speaker 1: that is an issue gaining bipartisan support. For me, it's

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Speaker 1: the favorite story because it seemingly resonates with the popular direction.

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Speaker 1: For governments to safeguard younger generations while balancing technology freedoms. Sean,

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Speaker 1: what about you.

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Speaker 2: That's a good story. I just have to have one

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Speaker 2: last mention of Donald Trump. I didn't want to talk

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Speaker 2: about him again, but he just keeps giving. He's naming

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Speaker 2: a bunch of people. Matt Gates, Attorney General, top law

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Speaker 2: enforcement job ally of Trump. Investigated for sex trafficking but

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Speaker 2: not criminally charged. Investigative for legal drug use and accepting

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Speaker 2: in proper gifts. Tulsy Gabbard, why no experienced intelligence Director

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Speaker 2: of National Intelligence Peter Hexath, Fox News Weekend co host

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Speaker 2: to lead the Pentagon Marco Rubio. He's taking an aggressive

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Speaker 2: stance on China's emergence as an economic power. Yep. He'll

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Speaker 2: be Secretary of State. Elon mask and Vivek Ramaswami co

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Speaker 2: lead what they're going to call the Department of Government Efficiency,

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Speaker 2: almost Monty Python esque. Most of these have to get

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Speaker 2: through Congress. The fight will be fears. The US vated

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Speaker 2: for Donald Trump. They're getting what they voted for.

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Speaker 1: That's it. Five minutes and pretty much everything you need

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Speaker 1: to know in the world of business. Thank you, Sean,

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Speaker 1: Thank you Adam we'll be back on Monday, Monie with

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Speaker 1: the top five business stories in just five minutes. Don't

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Speaker 1: forget to hit follow and join us online on Instagram, TikTok, LinkedIn,

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Speaker 1: Facebook and X. I'm Adam Lang and this is the

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Speaker 1: past five Business News weekend edition by Fear and Greed.

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Speaker 1: Have a great weekend.