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Speaker 1: It's Monday, the fourteenth of October twenty twenty four. Welcome

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Speaker 1: to the Fast five Business News by Fear and Greed,

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Speaker 1: where we give you the top five business stories you

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Speaker 1: need to know in just five minutes. I'm Michael Thompson

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Speaker 1: and good morning Sean Ailner.

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Speaker 2: Good morning, Michael, Seawan.

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Speaker 1: Five stories in five minutes. Let's get into it with

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Speaker 1: story number one. That's been one of the busiest weeks

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Speaker 1: of the year for the housing market, and sales really

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Speaker 1: have been okay at best, just as major lenders start

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Speaker 1: cutting interest rates on homeland.

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Speaker 2: Now the weather's warmer and the footy seasons are mostly over,

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Speaker 2: people are selling houses again in large numbers. There were

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Speaker 2: more than twenty five hundred auctions across the country last week,

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Speaker 2: the sixth highest of the year. The preliminary clearance rate

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Speaker 2: came in at sixty six zero point six percent, a

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Speaker 2: bit above the week before, but not great now. Sydney

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Speaker 2: had a sixty nine percent clear and straight according to

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Speaker 2: core Logic, Melbourne held most auctions, more than one thousand

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Speaker 2: its preliminary clearance rate with sixty four point eight percent,

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Speaker 2: while the weekly rate across the country was close to

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Speaker 2: the ten year average certainly, trend, as demonstrated by the

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Speaker 2: four week moving average, is down, and we now house

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Speaker 2: price growth across the nation has slow appreciably during the

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Speaker 2: September quarter, just one percent during that quarter. We also

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Speaker 2: know that Perth, Brisbane and Adelaide prizes have risen more

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Speaker 2: than the rest of the country. In fact, now Melbourne

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Speaker 2: is pretty much the cheapest of the major cities to

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Speaker 2: buy in a median house price of nine hundred and

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Speaker 2: seventy thousand compared to one point six million in Sydney. Interesting, Michael, Yeah,

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Speaker 2: sure is.

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Speaker 1: And I mentioned interest rates, Shawn. The big banks are

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Speaker 1: cutting fixed home loan rates with A and Z on Friday,

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Speaker 1: following the leads of NAB and Westpac and Cominwealth Bank.

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Speaker 1: They are all doing it.

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Speaker 2: They are A and Z cut its fixed home loan

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Speaker 2: rate play up to zero point six percentage points for

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Speaker 2: owner occupiers and up to zero point seven percentage points

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Speaker 2: for investors. At five point ninety nine. It's still slightly

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Speaker 2: above the five point eight nine rate, which is where CBO,

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Speaker 2: Westpac and NABS rates start. The lowest fixed three year

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Speaker 2: rate on rate Citi's database is four point nine to

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Speaker 2: nine percent from sw Bank. The moral of this story

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Speaker 2: is rates are coming down, but shop around.

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Speaker 1: All right. Moving on to story number two. Now in

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Speaker 1: ASX listed exchange traded funds are on track for record

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Speaker 1: growth this year after a surge of investor inflows during

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Speaker 1: the September quarter.

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Speaker 2: In the first nine months of this year, investors put

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Speaker 2: twenty three point three billion dollars into ETFs, for which

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Speaker 2: more than half came in the September quarter. The full

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Speaker 2: year inflow record was twenty twenty one, that was twenty

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Speaker 2: three point six billion. We're almost there after nine months.

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Speaker 2: Investors are directing the bulk of their capital into index

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Speaker 2: tracking ETFs. That's about ninety percent of total as. Training

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Speaker 2: ETFs are like that, the majority of money coming into

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Speaker 2: these ETFs is for international equity ETFs. Also a jump

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Speaker 2: in fixed income ETFs reflecting higher rates. The value of

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Speaker 2: this training ETF industry is now more than forty six

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Speaker 2: billion dollars. There's about two point two million ETF investors

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Speaker 2: in the country.

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Speaker 1: Story number three. How about this one, Sean. We're in

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Speaker 1: the countdown to the US presidential election November five, and

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Speaker 1: that's taking all the headlines, of course, but already six

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Speaker 1: sixty seven countries with a total population of about three

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Speaker 1: point four billion people have held elections this year.

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Speaker 2: The good news, according to the Economist magazine, voter turnout

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Speaker 2: has risen for the first time in two decades among

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Speaker 2: places categorized as full democracies by the Intelligence Unit at

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Speaker 2: the Economist, turnout hell steady. In Flora democracy it rose sharply.

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Speaker 2: In fact, ten out increased in many countries, including France, Indonesia,

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Speaker 2: South Korea, and Mexico. The report said that efforts to

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Speaker 2: undermine elections, often via social media, have generally failed. Elections

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Speaker 2: have become more peaceful. Increasingly voters are holding leaders accountable. However,

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Speaker 2: some elections remain as sham Think Russia, think Algeria. Still

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Speaker 2: some places where the outgoing leader world's power. For example,

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Speaker 2: in Indonesia, Yoko Widodo Sun was elected vice president and

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Speaker 2: this bit of splinting of parties anyway, Full steam ahead

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Speaker 2: now for that November five election in the US.

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Speaker 1: Yeah, it's not far away now Sewan. Story number four.

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Speaker 1: Boeing will cut seventeen thousand jobs or thereabouts and delay

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Speaker 1: the first delivery of its Triple seven X jet as

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Speaker 1: it confronts deepening losses and the effects of a week's

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Speaker 1: long strike by its largest labor union.

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Speaker 2: Chief executive Kelly Orsberg announced the cuts equipment to ten

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Speaker 2: percent of the workforce in a message to staff lots

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Speaker 2: going on. Financial troubles have escalated Boeing since the start

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Speaker 2: of the year when a door panel blew off one

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Speaker 2: of its seven three seven Max jets on a passenger flight.

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Speaker 2: Regulators demanded a slay down in manufacturing to fixed quality

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Speaker 2: problems that reduce the amount of cash coming in. Last month,

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Speaker 2: thirty three thousand workers walked off the job. The work

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Speaker 2: stobbage halted production at the company seven sixty seven and

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Speaker 2: triple seven planes. That cuts revenue even further puts more

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Speaker 2: strain on supplies and customers. SMB's warned that it could

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Speaker 2: downgrade Boeings of bonds to junk status. Very tough times

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Speaker 2: at that manufacturer.

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Speaker 1: Final story sean still in the general kind of airline

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Speaker 1: industry the aviation sector, but I don't know what to

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Speaker 1: make of this. Quantus has had to apologize after a

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Speaker 1: recent flo from Sydney to Tokyo featured an R rated

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Speaker 1: movie shown on every single screen on the plane.

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Speaker 2: The flight crew played the movie following the malfunction of

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Speaker 2: personal inflight entertainment systems last week, according to a person

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Speaker 2: who recounted the flight experience on Reddit. This is from

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Speaker 2: a New York Times report. The user added that the film,

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Speaker 2: which features sexually explicit language, images and words displayed on

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Speaker 2: the screen, played for almost an hour before it was

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Speaker 2: shut off. According to online comments from people who said

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Speaker 2: there are passengers on the flight the movie couldn't be

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Speaker 2: turned off. Quantas said in a statement that the crew

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Speaker 2: chose the movie based on the request from a number

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Speaker 2: of passengers. Apparently, the movie was called Daddy Oh, starring

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Speaker 2: Dakota Johnson and Sean Penn. Quantus is reviewing how the

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Speaker 2: movie was selected.

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Speaker 1: The poor kids on the flight. All they wanted to

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Speaker 1: do was watch Bluey. They got an R rated movie instead.

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Speaker 1: All right, there we go, the top five business stories

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Speaker 1: in five minutes.

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Speaker 2: Thank you Sean, Thank you Michael.

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Speaker 1: It is Monday, the fourteenth of October twenty twenty four.

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Speaker 1: But follow on the podcast and five minutes isn't enough.

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Speaker 1: We can find our longer daily show called Fear and

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Speaker 1: Greed wherever you listen to podcasts. I'm Michael Thompson and

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Speaker 1: that was the past five business news by Fear and greed,

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Speaker 1: have a great day,