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Speaker 1: It's Thursday, the thirty first of July twenty twenty five.

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Speaker 1: Welcome 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 and just five minutes. Are Michael Thompson

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Speaker 1: and Good morning.

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Speaker 2: Sean Ale, Good morning, Michael Shawn.

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Speaker 1: Five stories, five minutes. Let's go. Story number one. Inflation

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Speaker 1: has fallen to its lowest level since early twenty twenty one,

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Speaker 1: heaping a stack of pressure on the Reserve Bank to

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Speaker 1: cut interest rates in two weeks time. The longer waited

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Speaker 1: figures were broadly in line with the Central Bank's forecast.

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Speaker 2: So we headline inflation came into zero point seven percent

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Speaker 2: for the quarter, translated to two point one percent for

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Speaker 2: the year. The lowest and more than four years all

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Speaker 2: important underlying rate, which takes out the temporary volatile items,

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Speaker 2: measured zero point six percent for the quarter two point

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Speaker 2: six percent for the year on both a three and

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Speaker 2: six month annualized basis. The trimmed man inflation then underlying

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Speaker 2: rate around two and a half percent, which is a

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Speaker 2: midpoint of the Reserve Bank target band. Services inflation is

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Speaker 2: still much higher than goods inflation. In fact, goods inflation

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Speaker 2: is almost too low at one point one percent. Terms

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Speaker 2: of category's biggest rises were concentrated in foods, specifically eggs

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Speaker 2: up nearly twenty percent over the last year, assuming you

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Speaker 2: could find them. Lamb and goat was more expensive, so

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Speaker 2: to tobacco, coffee and tea and coco were also much

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Speaker 2: more costly. Fuel, electricity, transport fares, and books were all lower.

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Speaker 2: Now housing accounts for twenty percent of the inflation basket.

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Speaker 2: It's been one of the major drivers of inflation. The

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Speaker 2: good news there is that rent trows are only one

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Speaker 2: percent during the quarter.

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Speaker 1: Now, all this is good news, Sean, and arguably you

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Speaker 1: said this before. Inflation data will result in lower interest rates.

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Speaker 1: I feel like you're going to say the same thing

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Speaker 1: here that this is going to be enough for the

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Speaker 1: RBA to lower rates. But should any of us believe

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Speaker 1: you right now?

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Speaker 2: Yes? Yes, yes, yes, yes, yeah, Michael probably maybe yeah.

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Speaker 2: If yesterday's reporters a make or break for lower interest rates,

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Speaker 2: then I think it's a make. The Preserve Bank will

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Speaker 2: move when it meets on August eight. Certainly financial markets

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Speaker 2: think so. The smp ASX two hundred came out just

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Speaker 2: shy of a record close yesterday, the Aussie dollar was

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Speaker 2: pushed back under sixty five US since in the short

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Speaker 2: term the Aussie tends to rize and fall in the

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Speaker 2: back of interest rate expectations, bond markets pricing a greater

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Speaker 2: chance of a rate cut, and Jim Chalmers are very

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Speaker 2: happy about the whole show. He said, the data shows

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Speaker 2: how well Australia is performing in a fight against inflation.

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Speaker 1: Okay, moving on to story number two, and Australia has

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Speaker 1: called on countries to quote express willingness to recognize the

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Speaker 1: state of Palestine as an essential step towards the two

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Speaker 1: state solution. This comes after the UK government said it

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Speaker 1: would recognize Palestinian statehood in September unless Israel meets key conditions.

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Speaker 2: Basically, Australia is saying it wants. It isn't saying it

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Speaker 2: wants an independent state of Palestine, but it's getting mighty

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Speaker 2: close to that. In a joint statement from fifteen countries

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Speaker 2: released yesterday morning, Foreign Minister Penny Wong and her counterpart

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Speaker 2: said that they had already recognized, have expressed or express

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Speaker 2: the willingness or the positive consideration of our countries to

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Speaker 2: recognize the state of Palestine. As an essential step towards

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Speaker 2: a two state solution. It went on to invite all

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Speaker 2: countries that have not done so to join this call.

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Speaker 2: So France has wreckon once a state of Palestine. Countries

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Speaker 2: like Australian in the UK are getting there. The statement

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Speaker 2: also demands an immediate ceasefire, the immediate and unconditional release

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Speaker 2: of all hostages of Hamas, including the remains, as well

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Speaker 2: as ensuring unhindered humanitarian access.

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Speaker 1: Story number three. Teenagers between the ages of thirteen and

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Speaker 1: sixteen will be banned from creating YouTube accounts in a

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Speaker 1: major policy backflip by the Albanesi government as it prepares

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Speaker 1: to implement a world first higher minimum age to access

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Speaker 1: social media platforms.

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Speaker 2: Reverse all came after advice from E Safety Commissioner duly

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Speaker 2: In man Grand, who found YouTube was the most widely

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Speaker 2: used platform for young teens, the most likely place for

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Speaker 2: them to encounter harmful material. The law, which is being

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Speaker 2: watched closely by other countries, comes into effect on December ten,

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Speaker 2: increases the minimum age to sixteen for platforms like TikTok, Instagram, Facebook,

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Speaker 2: Snapchat X. The law imposes penalty of up to fifty

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Speaker 2: penalties of up to fifty million dollars on platforms if

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Speaker 2: they don't enforce the new limit. Meanwhile, YouTube owner Alphabet

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Speaker 2: will soon begin using artificial intelligence to determine whether the

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Speaker 2: viewers in the US are under the age of eighteen.

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Speaker 1: Story number four. The deadline for the setting of US

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Speaker 1: tariffs as fast approaching. In fact, it's actually tomorrow, the

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Speaker 1: first of August, and Australia doesn't seem to be close

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Speaker 1: to a deal, while talks on a trade deal with

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Speaker 1: the EU also look to be faltering. So that's not

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Speaker 1: a lot of good news anywhere here now.

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Speaker 2: So Donald Trump in recent days has said anyone without

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Speaker 2: a deal will get captured by a broad fifteen to

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Speaker 2: twenty percent tariff. Australia was originally slated to get ten percent,

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Speaker 2: the opposition has claimed Anthony Alberizi has run up the

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Speaker 2: white flag on this one. Australia sells about twenty four

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Speaker 2: billion dollars worth of goods to the US. On the

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Speaker 2: EU trade deal, media is reporting that we've been pushed

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Speaker 2: down the rankings of importance. So the EU this week

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Speaker 2: and now is to fifteen percent tariff deal, with the

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Speaker 2: US also attempting to finalize a deal with a block

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Speaker 2: of South American nations, including Argentina, Brazil, Paraguay and Uruguay.

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Speaker 2: And we're just sort of fallen down the list, basically.

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Speaker 1: Storing number five the share price of Novo nor Disc,

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Speaker 1: the company behind revolutionary diabetes and weight loss drugs. We

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Speaker 1: crashed thirty percent yesterday after announcing weaker than expected sales

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Speaker 1: and profits for the June half and a relatively poor outlook.

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Speaker 2: The Danish company is one of the world's hottest stocks,

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Speaker 2: well what until yesterday. Investors poured into it on the

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Speaker 2: belief that at Zempig and we gov would spark a

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Speaker 2: health revolution, but future sales won't be what novo I hoped.

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Speaker 2: It quickly lost about one hundred and forty three billion

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Speaker 2: dollars of its market value in one session before settling

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Speaker 2: twenty three percent low. The challenge for Nova nor a

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Speaker 2: disc more competition for Eli Lilly, the other big producer.

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Speaker 2: Also the development by a lot of smaller companies of

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Speaker 2: copycat drugs for Nova that's proving very hard to stop.

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Speaker 1: Okay, there we go, the top five business stories in

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Speaker 1: five minutes. Thank you very much, Sean, Thank you, Michael.

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Speaker 1: It's Thursday, the thirty first of July twenty twenty five.

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

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Speaker 1: minutes isn't enoughing and find our longer daily show called

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

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Speaker 1: Thompson and that was the Fast five Business news by

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Speaker 1: Fear and Greed. Have a great day.