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Speaker 1: It's Monday, the thirteenth of April twenty twenty six. Welcome

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

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Speaker 1: Whill 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 Aylmer.

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Speaker 2: Good morning, Michael, Sean.

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Speaker 1: Five stories in five minutes. Let's go with story number one.

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Speaker 1: The US and Iran have failed to make much headway

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Speaker 1: in negotiations for peace, putting pressure on the increasingly fragile

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Speaker 1: ceasefire and on the global economy, which is likely to

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Speaker 1: feed through to higher inflation and lower economic growth. US

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Speaker 1: Vice President JD Vance left Pakistan yesterday Australian time, having

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Speaker 1: failed to win the concessions the US was after from

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Speaker 1: Iran over its nuclear power program. While the negotiations will continue, presumably,

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Speaker 1: though nothing is a certainty in this war, it seems

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Speaker 1: that the all important strait of Humus remains closed to

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Speaker 1: all vessels except the ones that Iran wants to let through.

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Speaker 2: Yes, so the failure to reach agreement clearly frustrated Donald Trump.

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Speaker 2: He immediately retweeted an article that suggested the US could

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Speaker 2: blockade Iran to pressure the nation to make a deal.

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Speaker 2: It's very hard to know exactly what's going on in

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Speaker 2: the Strait. The US military of the weekend said two

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Speaker 2: ships had traveled through it for mind clearing. Iran said

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Speaker 2: that hadn't happened. You know, a couple of Chinese in

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Speaker 2: a Greek vessel appeared to have made the journey. Figures.

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Speaker 2: What is coming to the crunch point for Donald Trump

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Speaker 2: is gas prices are up twenty one percent in the

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Speaker 2: last few weeks. It is becoming a domestic crisis for him,

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Speaker 2: and that will really give him an incentive to make

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Speaker 2: a deal.

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Speaker 1: You mentioned gas prices there. We've seen the impact of

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Speaker 1: the war on petrol prices, and experts are now saying

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Speaker 1: that we're soon to see it in food prices as well.

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Speaker 1: Global soft commodity prices essentially food products have surged since

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Speaker 1: the start of the war in the Middle East, and

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Speaker 1: they are actually already rising ahead of the turmoil due

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Speaker 1: to poor growing conditions that hit supply. It puts pressure

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Speaker 1: on growers and food manufacturer shorn to push up prices,

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Speaker 1: which then in turn feeds into inflation. This year, and

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Speaker 1: particularly since the beginning of the war, there have been

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Speaker 1: big jumps in prices of palm oil, cheese and milk. Also,

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Speaker 1: we've seen a surge in soybeans, wheat, canola and rice

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Speaker 1: as well.

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Speaker 2: So experts reckon this is going to hit us in

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Speaker 2: two or three weeks time. We had the National Farmer's

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Speaker 2: Federation boss Hamish McIntire saying slightly to hit milk prices first,

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Speaker 2: then fruit and vegetables, then animal products. That means the

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Speaker 2: Reserve Bank will still have one figure on the interest

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Speaker 2: rate hike button.

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Speaker 1: Unfortunately, Michael Okay story number two. The last seven days

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Speaker 1: have been good for global markets thanks to the US

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Speaker 1: and around announcing a ceasefire the seeming end hostilities sent

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Speaker 1: oil prices down around thirteen percent. Brand crew are sitting

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Speaker 1: just under one hundred US dollars a barrel. The Aussie

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Speaker 1: dollar is trading above seventy US since while last week, gold, bitcoin,

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Speaker 1: and copper all rows.

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Speaker 2: Yeah, so the overwhelming hiver is oil prices. And that's

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Speaker 2: the straight off story that we've been talking about. We've

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Speaker 2: seen that in our market. So the ASX last week

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Speaker 2: finished flat, but it was up about four point four percent.

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Speaker 2: So the miners did well, the banks did well, the

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Speaker 2: property companies did well, I reckon the real story in

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Speaker 2: this though, is it Lassian Ossie company listed on Wall Street,

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Speaker 2: down sixty three percent this year on fears that AI

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Speaker 2: will replace its business model at Lassian founder Mike Canan brooks.

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Speaker 2: He says, ahh, it'll help us. Investors aren't buying that though,

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Speaker 2: sixty three percent in about four months.

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Speaker 1: Ouch wow. Story number three Australia, This commercial property market

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Speaker 1: has effectively split in two sean office heavy parts of

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Speaker 1: the economy showing signs of stress, while industrial and logistics

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Speaker 1: property keeps powering ahead, according to new data from Credit

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Speaker 1: to Watch. The headline sounds obvious, but the numbers really

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Speaker 1: make it real here this is it's not commercial property

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Speaker 1: as one market anymore. It's two different cycles happening at

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Speaker 1: the same time. The big message from Credit to Watch

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Speaker 1: as new reporters the business failures, office vacancies and payment

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Speaker 1: defaults are rising in industries with lots of exposure to

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Speaker 1: office space.

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Speaker 2: Yeah, and just before we leave property, the residential property market.

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Speaker 2: We talked about that last week was a really big

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Speaker 2: weekend for auctions. Clearance straight came in. The preliminary clean

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Speaker 2: strate came in about fifty eight percent. I'd call that

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Speaker 2: a pass certainly not a credit, not a fail, which

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Speaker 2: is good, and the final clearance rate will be over

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Speaker 2: fifty percent, which is also good, but still very lukewarm

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Speaker 2: residential property market.

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Speaker 1: Indeed, story number four American rather American big bank CEOs,

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Speaker 1: the boss of the Federal Reserved our own Power, and

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Speaker 1: Treasury Secretary Scott Besson gathered in Washington late last week

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Speaker 1: to discuss the destructive capabilities of Anthropics' latest AI model,

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Speaker 1: Claude Mythos. Anthropic is the developer of the claud large

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Speaker 1: language model of one of the big players in the

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Speaker 1: AI space. The fear is that Mythos can do deteched

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Speaker 1: cybersecurity flaws in operating systems and web browsers with exponentially

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Speaker 1: greater efficiency than human hackers sean and.

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Speaker 2: Ironically, one of the main reasons Mythos was built was

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Speaker 2: to protect companies from hackers. How dangerous is it well?

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Speaker 2: According to Axis Axios, which is a media outlet in

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Speaker 2: the US, officials believe Mythos can debilitate Fortune one hundred companies,

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Speaker 2: infiltrate national defense systems, and take down huge chunks of

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Speaker 2: the Internet. A security expert told Business Inside of the

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Speaker 2: team of humans can discover about one hundred critical flaws

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Speaker 2: with no immediate fixes per year. Mythos can find thousands. Now,

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Speaker 2: at this stage it's only been distributed to about forty companies,

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Speaker 2: but clearly Anthropic are doing the right thing too, making

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Speaker 2: sure that there is proper I don't know guardrails against

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Speaker 2: using it wrongly.

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Speaker 1: Last one, sorry, number five, just quickly. Levis, a brand

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Speaker 1: synonymous with shopping and denim jen Sean, has for the

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Speaker 1: first time reported more sales direct to consumers than made

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Speaker 1: via retailers. Now, Levi's third quarter results show that given

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Speaker 1: tariffs on imported products, it could lift its prices in

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Speaker 1: the US and not lose customers.

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Speaker 2: A few reads. A few things about this story. I

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Speaker 2: like the fact that it can lift prices and not

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Speaker 2: lose customers. It shows what's going on in that country. Also,

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Speaker 2: jorts are back the nineties, stole georts, you gene shorts,

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Speaker 2: Apparently that's helping out. Country music's back, that's helping out.

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Speaker 2: And of course love story that show about Karen Bassett

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Speaker 2: and JFK Jr. She will Levi's the whole time that

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Speaker 2: helped out. There you go, I'd like.

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Speaker 1: To see you in a pair of georts. Sure that

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Speaker 1: would not be good for the Levi's brand. There we go,

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Speaker 1: five minutes, top five business stories. Thank you very much, Sean.

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Speaker 2: Thanks Michael.

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Speaker 1: It is Monday, the thirteenth of April twenty twenty six.

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Speaker 1: Remember to hit follow on the podcast and five minutes

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Speaker 1: isn't enough. You can find our longer daily show called

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Speaker 1: Fear and Greed wherever you listen to podcasts. So I'm

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Speaker 1: trying to get that image out of my head. I'm

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Speaker 1: called Thompson that that was the fast by Business News

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Speaker 1: by Fear and Greed. Had a great day.