1 00:00:03,800 --> 00:00:07,200 Speaker 1: It's Monday, the eighteenth of November twenty twenty four. Welcome 2 00:00:07,240 --> 00:00:09,719 Speaker 1: to the Fast five Business News by Fear and Greed, 3 00:00:09,720 --> 00:00:11,520 Speaker 1: where we give you the top five business stories you 4 00:00:11,560 --> 00:00:14,040 Speaker 1: need to know in just five minutes. Are Michael Thompson 5 00:00:14,080 --> 00:00:15,480 Speaker 1: and Good morning, Sean Aylmer. 6 00:00:15,760 --> 00:00:17,680 Speaker 2: Good morning Michael, Sean. 7 00:00:17,840 --> 00:00:20,240 Speaker 1: We have five big stories to get through today in 8 00:00:20,360 --> 00:00:22,720 Speaker 1: just five minutes, so we better get going. Story number one. 9 00:00:22,800 --> 00:00:25,959 Speaker 1: Prime Minister Anthony Alberanezi has used his final speech at 10 00:00:26,000 --> 00:00:29,040 Speaker 1: a meeting of APEC leaders to push for climate change 11 00:00:29,080 --> 00:00:32,360 Speaker 1: action and further cutting of emissions, and he's also called 12 00:00:32,400 --> 00:00:34,720 Speaker 1: for nations to embrace clean energy. 13 00:00:35,200 --> 00:00:37,960 Speaker 2: He said, the tenants that he mentioned that you mentioned there, Michael, 14 00:00:38,000 --> 00:00:41,120 Speaker 2: are central for Asia Pacific countries to build news sources 15 00:00:41,120 --> 00:00:44,640 Speaker 2: of inclusive growth and lasting prosperity. Speaking in Lima, Peru 16 00:00:44,760 --> 00:00:47,080 Speaker 2: ahead of flying to Rio di Janeiro for the G 17 00:00:47,159 --> 00:00:49,920 Speaker 2: twenty summit, Istra Albenizi said the global moved and that 18 00:00:50,040 --> 00:00:53,680 Speaker 2: zero represents the biggest economic shift since the Industrial Revolution. 19 00:00:53,880 --> 00:00:56,520 Speaker 2: I'm quoting him here. Making the move to more solar, 20 00:00:56,560 --> 00:00:59,200 Speaker 2: wind and green hydrogen is essential for us to deal 21 00:00:59,240 --> 00:01:01,680 Speaker 2: with the threat that time it change poses to our environment, 22 00:01:01,680 --> 00:01:04,720 Speaker 2: our farmers, our forests, orations and rivers, and our future 23 00:01:04,720 --> 00:01:08,279 Speaker 2: food security. It came ahead of a final APEC leader's 24 00:01:08,280 --> 00:01:11,640 Speaker 2: statement now that Sament failed to elevate Russia's invasion of 25 00:01:11,840 --> 00:01:15,400 Speaker 2: Ukraine and conflict in the Middle East as an APEX priority, 26 00:01:16,000 --> 00:01:19,600 Speaker 2: but did push the free trade a gender. Signatories to 27 00:01:19,760 --> 00:01:24,760 Speaker 2: that statement, apart from Austrauberniasi, included US President Joe Biden 28 00:01:25,160 --> 00:01:29,520 Speaker 2: and Chinese leader Jijingping. All of them endorsed a rules 29 00:01:29,560 --> 00:01:33,479 Speaker 2: based multilateral trading system in Lima. There was a great 30 00:01:33,520 --> 00:01:37,040 Speaker 2: photo shoot of Joe Biden and Qijing Ping shaking hands. 31 00:01:37,680 --> 00:01:41,160 Speaker 2: I think the g summit meeting, which starts tonight, will continue. 32 00:01:41,240 --> 00:01:44,280 Speaker 2: We'll probably deal more with the conflicts that APEX didn't 33 00:01:44,319 --> 00:01:46,839 Speaker 2: deal with. But in all this, the shadow of Donald 34 00:01:46,880 --> 00:01:48,080 Speaker 2: Trump is looming large. 35 00:01:48,560 --> 00:01:52,080 Speaker 1: Just quickly, you mentioned the Chinese leader Jijinping and US 36 00:01:52,120 --> 00:01:56,640 Speaker 1: President Joe Biden, and there's some kind of positive news 37 00:01:56,680 --> 00:01:58,800 Speaker 1: on the relationship between the two countries. But of course 38 00:01:58,800 --> 00:02:01,520 Speaker 1: this doesn't involve Donald Trump just yet. 39 00:02:01,800 --> 00:02:04,080 Speaker 2: Yes, So, speaking at the start of what's expected to 40 00:02:04,080 --> 00:02:06,360 Speaker 2: be their final meeting before Trump takes over, she told 41 00:02:06,400 --> 00:02:08,800 Speaker 2: Biden that the US and China should strive for peaceful 42 00:02:08,840 --> 00:02:11,840 Speaker 2: coexistence over the longer term, according to Bloomberg. Biden, in 43 00:02:11,840 --> 00:02:15,760 Speaker 2: a response said that the two countries should be very 44 00:02:15,760 --> 00:02:18,080 Speaker 2: proud of the progress between the two sides. 45 00:02:18,440 --> 00:02:21,240 Speaker 1: All right, moving on to story number two. Now, Sean, 46 00:02:21,360 --> 00:02:25,400 Speaker 1: we are in peak auction season across the nation, with 47 00:02:25,600 --> 00:02:29,079 Speaker 1: last week being the second busiest of twenty twenty four. 48 00:02:29,480 --> 00:02:33,960 Speaker 1: The eliminary, the preliminary clearance rate, that is a hard 49 00:02:34,120 --> 00:02:37,480 Speaker 1: hard word say, I don't think I've ever made that 50 00:02:37,480 --> 00:02:39,640 Speaker 1: mistake before, and you've just been waiting for me to 51 00:02:39,680 --> 00:02:42,480 Speaker 1: sleep up. The preliminary clearance rates came in at sixty 52 00:02:42,520 --> 00:02:46,000 Speaker 1: four point one percent, the third lowest week. 53 00:02:46,000 --> 00:02:49,880 Speaker 2: Of the year, twenty nine hundred auctions. Melbourne came in 54 00:02:49,919 --> 00:02:52,080 Speaker 2: at sixty four point nine percent, about normal. Sittey with 55 00:02:52,080 --> 00:02:55,240 Speaker 2: sixty three point four percent that is the second lowest 56 00:02:55,320 --> 00:02:59,320 Speaker 2: preliminary clearance rate of the year, Brisbane fifty six point 57 00:02:59,360 --> 00:03:02,280 Speaker 2: three percent, Laid seventy point seven percent, and the Act 58 00:03:02,480 --> 00:03:05,160 Speaker 2: sixty six percent. Morse py in the market is pushing 59 00:03:05,200 --> 00:03:09,800 Speaker 2: down clear and straight. The latest price figures suggest Sidney, Melbourne, Hobart, 60 00:03:09,840 --> 00:03:14,000 Speaker 2: Canber and Darwin prices are flat at best, maybe going backwards, Adelaide, 61 00:03:14,000 --> 00:03:16,360 Speaker 2: Perth Brisbane still growing, but not as fast as they were. 62 00:03:16,600 --> 00:03:19,040 Speaker 2: Of course, some of the major economists around town now 63 00:03:19,080 --> 00:03:21,600 Speaker 2: think we won't get a rate cut until May next year. 64 00:03:21,960 --> 00:03:24,919 Speaker 1: Story number three. Late last week, a bunch of fund 65 00:03:24,960 --> 00:03:27,440 Speaker 1: managers gathered in South Australia and pitched some of their 66 00:03:27,480 --> 00:03:32,840 Speaker 1: best stock picks at SOM's Hearts and Minds Conference Glastonbury. 67 00:03:32,840 --> 00:03:34,920 Speaker 2: For fundies. I think of a bunch of performers giving 68 00:03:34,960 --> 00:03:38,680 Speaker 2: their best who's who of investment banking. I wasn't there, 69 00:03:38,680 --> 00:03:40,520 Speaker 2: but the thin review was, so I'm stealing from them 70 00:03:40,600 --> 00:03:45,120 Speaker 2: IFM investors. Ricky Bannon she reckons that that Corporate Travel 71 00:03:45,160 --> 00:03:48,040 Speaker 2: Management is her pick for twenty twenty five. It's down 72 00:03:48,080 --> 00:03:50,240 Speaker 2: thirty percent this year. She's said the travele sector is 73 00:03:50,240 --> 00:03:55,600 Speaker 2: now stabilizing. Elliston Capital's Chris Cortis picked Perpetual. JB. Hambrosemere 74 00:03:55,680 --> 00:03:59,840 Speaker 2: Meta picked ten Cent Music, which is a Chinese streaming service. 75 00:04:00,120 --> 00:04:03,280 Speaker 2: Couple of interesting one North Capes Capital flur Right. She 76 00:04:03,520 --> 00:04:06,320 Speaker 2: suggests Estate Lorder was the one to go. It has 77 00:04:06,360 --> 00:04:09,360 Speaker 2: been hammered. Estay Loader down fifty five percent this year. 78 00:04:09,880 --> 00:04:12,520 Speaker 2: Maybe it will bounce back and in Tippandy's partners Vihari 79 00:04:12,640 --> 00:04:14,840 Speaker 2: Ross picked Airbus the manufacturer. 80 00:04:14,880 --> 00:04:16,760 Speaker 1: And of course we're not an investment podcast and you 81 00:04:16,760 --> 00:04:21,479 Speaker 1: should seek professional advice before making investment decisions. Story number 82 00:04:21,480 --> 00:04:25,279 Speaker 1: four sean Wagu beef is falling from favor as the 83 00:04:25,320 --> 00:04:27,919 Speaker 1: cost of living crisis hits the beef sector. There's a 84 00:04:27,920 --> 00:04:28,760 Speaker 1: lot at stake here. 85 00:04:29,279 --> 00:04:32,400 Speaker 2: Oh, I like that. Well done. Queensland based agribusiness Australian 86 00:04:32,480 --> 00:04:35,680 Speaker 2: agricultural company AACO, one of the biggest beef producers in 87 00:04:35,720 --> 00:04:38,839 Speaker 2: the country, more than thirty percent drop in profit for 88 00:04:38,839 --> 00:04:41,599 Speaker 2: the six months to the end of September. Basically, Wago 89 00:04:41,760 --> 00:04:44,960 Speaker 2: prices are down about seventeen percent, getting hit by lower 90 00:04:44,960 --> 00:04:47,720 Speaker 2: demand due to cost of living pressures plus higher input cost. 91 00:04:47,920 --> 00:04:51,479 Speaker 2: Fascinating company AACO, two hundred years old this year began 92 00:04:51,600 --> 00:04:54,279 Speaker 2: as an exporter of wool so the United Kingdom fast 93 00:04:54,279 --> 00:04:57,400 Speaker 2: portfolios of station's six point five million hectes. It's actually 94 00:04:57,400 --> 00:05:00,800 Speaker 2: one percent of Australia's land mass, more than fish percent. 95 00:05:00,839 --> 00:05:04,400 Speaker 2: Owned by British billionaire j Lewis, famous this year, at 96 00:05:04,480 --> 00:05:07,360 Speaker 2: least for pleading guilty to inside a trading charges in 97 00:05:07,400 --> 00:05:07,839 Speaker 2: the US. 98 00:05:08,440 --> 00:05:11,760 Speaker 1: Last one, Story number five Disney Sean is showing some 99 00:05:11,800 --> 00:05:15,320 Speaker 1: signs of bouncing back from a very tough period thanks 100 00:05:15,360 --> 00:05:20,680 Speaker 1: to growing streaming profits and the performance of Deadpool and Wolverine. 101 00:05:21,000 --> 00:05:23,680 Speaker 2: Yeah, Burning's were up thirty nine percent during the September quarter. 102 00:05:23,760 --> 00:05:26,040 Speaker 2: Share price jumped as a result the two big movies, 103 00:05:26,080 --> 00:05:28,560 Speaker 2: Deadpool and Wolverine. Can't say I've seen it? You have 104 00:05:28,640 --> 00:05:31,400 Speaker 2: euro a fan inside out too, haven't seen that one? 105 00:05:31,520 --> 00:05:34,840 Speaker 2: You have? You're a fan. Basically. The streaming services Disney Plus, 106 00:05:35,000 --> 00:05:38,520 Speaker 2: ESPN Plus and Hulu doing pretty well upcoming holiday season. 107 00:05:38,560 --> 00:05:40,520 Speaker 2: Mohana two and Fast to the Lion King the other 108 00:05:40,600 --> 00:05:44,440 Speaker 2: two big ones Disney are banking on. The negative for 109 00:05:44,520 --> 00:05:48,120 Speaker 2: Disney recently has been the experiences division, theme parks and cruises. Well, 110 00:05:48,120 --> 00:05:50,200 Speaker 2: the US theme parks are picking out, not so much 111 00:05:50,240 --> 00:05:52,760 Speaker 2: Paris in Shanghai, but they're doubling down on the cruises, 112 00:05:52,800 --> 00:05:54,760 Speaker 2: launching two new cruise ships next year. 113 00:05:54,920 --> 00:05:56,880 Speaker 1: All right, there we go, the top five business stories 114 00:05:56,880 --> 00:05:59,240 Speaker 1: in five minutes. Thank you Sean, Thank you Michael. It 115 00:05:59,320 --> 00:06:02,320 Speaker 1: is Monday, the eighteenth of November twenty twenty four. Remember 116 00:06:02,360 --> 00:06:04,599 Speaker 1: to hit follow on the podcast and in five minutes 117 00:06:05,040 --> 00:06:07,479 Speaker 1: just isn't enough. You can find our longer daily show 118 00:06:07,560 --> 00:06:10,719 Speaker 1: called Fear and Greed wherever you listen to podcasts, I'm 119 00:06:10,720 --> 00:06:12,839 Speaker 1: Michael Thompson and that was the fast five business news 120 00:06:12,880 --> 00:06:16,760 Speaker 1: by Fear and Greed. Have a great day.