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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 Michael Thompson and hello

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Speaker 1: Sean Aylmer. Hi, Michael Sean. On weekdays, it's all about

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Speaker 1: the Fast five, the top five business stories in five minutes.

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Speaker 1: On the weekend, we still keep it to five minutes,

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Speaker 1: but we are going to pick out the biggest business

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Speaker 1: story of the week, the most remarkable business story, a

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Speaker 1: sleeper story, one that's flying under the radar a little bit,

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Speaker 1: and then our favorite business story. Shall I go first

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Speaker 1: for the biggest story?

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Speaker 2: Please?

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Speaker 1: I think the biggest story. Look to be honest, it

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Speaker 1: is a little bit dull, isn't it. It is my EFO,

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Speaker 1: the midyear Economic Fiscal Outlook, so it's basically the budget

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Speaker 1: update that they do every December, and a couple of

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Speaker 1: the key facts that came out of it from the

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Speaker 1: Treasury of Jim Chalmers this week where he said the

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Speaker 1: underlying deficit this financial year due to coming at twenty

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Speaker 1: seven billion dollars, but it is going to worsen over

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Speaker 1: the next three years. Over the next four years, the

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Speaker 1: deficit has forecast to be one hundred and forty four

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Speaker 1: billion dollars we're looking at a decade of deficits. Government

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Speaker 1: spending is set to increase. We're going to hear a

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Speaker 1: lot about that. You can imagine in the upcoming election campaign.

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Speaker 1: We heard about net migration being higher than forecasts, which

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Speaker 1: will put pressure on the housing market. The government has

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Speaker 1: down greater growth forecast for the economy. It's predicting a

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Speaker 1: pickup in the unemployment rate. A wealth of data this week,

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Speaker 1: Sean the week before Christmas. That's really one when you

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Speaker 1: want to get these things out right.

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Speaker 2: Well, that's true. Look, the other big story for the

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Speaker 2: week was what happened in the US when the Federal

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Speaker 2: Reserve decided to cut interest rates by twenty five basis points.

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Speaker 2: It did that, it then came out and said, rather

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Speaker 2: than four interest rate cuts next year, will probably only

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Speaker 2: do two. Wow. That sent S and P five hundred

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Speaker 2: down three percent. Our local market dropped two percent. The

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Speaker 2: morning after that, the Aussie dollar fell back below sixty

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Speaker 2: two cents. Briefly, Bitcoin came back to one hundred thousand

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Speaker 2: US dollars a unit. Big big moves in investment markets

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Speaker 2: on the back of the idea that the feed won't

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Speaker 2: be cutting four times next ye. The reason maybe inflation

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Speaker 2: hasn't been slaid. Maybe Michelle Bullock in the Reserve Bank

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Speaker 2: here in Australia are right in not having cut interest

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Speaker 2: rates yet. Really interesting to see how this one presents itself.

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Speaker 1: Yeah, certainly is all right. Let's move on to most

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Speaker 1: remarkable story. What did you pick out for us this week?

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Speaker 2: Meso Blast. It's share price jumped fifty four percent in

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Speaker 2: one day. This week, the US Food and Drug Administration

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Speaker 2: gave the green light to Miso Blasts sell therapy treatment.

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Speaker 2: Right console, It'll be used to treat children for a

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Speaker 2: life threatening complication that it can occur during bone marrow transplants.

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Speaker 2: About fifteen hundred kids in the US are at risk

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Speaker 2: of that complication. There has never been a treatment for it.

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Speaker 2: Wonderful news for them. Funnily enough, earlier in the year,

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Speaker 2: the FDA recognized Miso Blasts cell therapy treatment rever score

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Speaker 2: that treats heart disease in newborn and babies. The company

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Speaker 2: itself up nine hundred percent is share price this year

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Speaker 2: on the back of these two great breakthroughs.

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Speaker 1: Yeah, that is a cracker of a story that one

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Speaker 1: can I move on to a sleeper story of the Yeah,

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Speaker 1: please so It's a little bit of a sleeper story

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Speaker 1: just because not much fuss has been made about it,

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Speaker 1: but because the AX has obviously been growing in overall

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Speaker 1: value across the year, but the number of companies on

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Speaker 1: the burs is actually shrinking. The ASEX on track to

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Speaker 1: end the year with fewer listed companies than it started

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Speaker 1: with because more companies are actually going opting to go private.

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Speaker 1: It's a bit of a trend. We are in a

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Speaker 1: multi year contraction. The appeal of private markets is growing.

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Speaker 1: There's not as many new companies coming onto the bass

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Speaker 1: in the first place. And they're not kind of minnows.

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Speaker 1: They're not kind of little companies that no one's ever

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Speaker 1: heard of. They are like big companies that have disappeared.

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Speaker 1: This year's CSR and adbry and Coster Group, the fruit

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Speaker 1: and veggie company Alumina, as well bunch of ones Sean

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Speaker 1: and this may well be a trend that we see

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Speaker 1: continuing into next year and beyond.

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Speaker 2: Very possibly. Let me tell you my favorite story. It's

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Speaker 2: got a Christmas feel to it. Prawns and oysters, plenty

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Speaker 2: of them being sold at the Sydney Fish Market. They

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Speaker 2: expect one hundred and twenty tons of Paumans to be

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Speaker 2: sold close to seventy thousand dozen oysters. But the new

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Speaker 2: big thing for the Christmas table sashimi. So retailers are

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Speaker 2: reporting Kingfish, Tune or Atlantic salmon all being sold with

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Speaker 2: the view of having sashimi at Christmas time. Now the

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Speaker 2: Sydney fish market is the largest in the country. It

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Speaker 2: expects to sell more than three hundred and fifty tons

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Speaker 2: of seafood in the thirty six hours before Christmas morning.

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Speaker 2: That's about three and a half blue whales. Quite amazing.

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Speaker 2: The other trend this year Christmas puddings are back. David

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Speaker 2: Jarn's reporting big sales of Christmas puddings.

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Speaker 1: A quick favorite story of mate, we should have finished

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Speaker 1: on yours because it has a more Christmasy feel to it.

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Speaker 1: But mine is actually about Nissen and Honda in talks

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Speaker 1: about a merger that would create a fifty two billion

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Speaker 1: US dollar Japanese car making giant. It is really in

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Speaker 1: the face of kind of increased competition from companies like

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Speaker 1: Tesla and byd out of China. A lot of the

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Speaker 1: traditional legacy car makers are under a lot of pressure now.

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Speaker 1: Nisson's share prices gone down forty percent this year, and

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Speaker 1: I just like this story because it is really about

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Speaker 1: old fashioned companies who have been really mortal enemies for

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Speaker 1: a very long time potentially coming together in the hope

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Speaker 1: of surviving into the future.

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Speaker 2: Sean pretty incredible story that one.

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Speaker 1: We should have finished on yours though, just for the

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Speaker 1: Christmas vibe of it all. Anyway, there's five minutes and

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Speaker 1: pretty much everything you need to know in the world

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Speaker 1: of business.

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Speaker 2: Thank you very much, Thanks Michael.

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Speaker 1: We'll be back on Monday morning. Don't forget to hit

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Speaker 1: follow and please join us online on Instagram, TikTok, LinkedIn,

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Speaker 1: Facebook and X Michael Thompson And this is the past

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Speaker 1: five business news by Fear and Great