1 00:00:04,160 --> 00:00:06,640 Speaker 1: Welcome to the weekend edition of The Fast five Business 2 00:00:06,680 --> 00:00:09,000 Speaker 1: News by Fear and Greed. I'm Michael Thompson and hello 3 00:00:09,119 --> 00:00:09,639 Speaker 1: Sean Ale. 4 00:00:09,720 --> 00:00:11,080 Speaker 2: Morning, Michael Sean. 5 00:00:11,160 --> 00:00:12,960 Speaker 1: On weekdays, it's all about the Fast five, the top 6 00:00:13,000 --> 00:00:14,960 Speaker 1: five business stories in five minutes. On the weekend, we 7 00:00:14,960 --> 00:00:16,759 Speaker 1: still keep it to five minutes, of course, but we 8 00:00:16,760 --> 00:00:18,599 Speaker 1: are going to pick out the biggest business story of 9 00:00:18,640 --> 00:00:22,320 Speaker 1: the week, the most remarkable story, a mystery category. We 10 00:00:22,480 --> 00:00:25,040 Speaker 1: changed that one every week, and then our favorite story. 11 00:00:25,160 --> 00:00:29,280 Speaker 1: Let's jump straight into the biggest story and I reckon. 12 00:00:29,360 --> 00:00:32,600 Speaker 1: For me, it was politics. It was Parliament resuming, which 13 00:00:32,640 --> 00:00:34,479 Speaker 1: is always just a bit exciting because there's always a 14 00:00:34,520 --> 00:00:36,559 Speaker 1: bit of ceremony and a bit of fanfare, all that 15 00:00:36,640 --> 00:00:39,120 Speaker 1: kind of thing, but there's also legislation being introduced. This 16 00:00:39,120 --> 00:00:41,560 Speaker 1: week we saw kind of everything from cutting hex debts 17 00:00:42,120 --> 00:00:46,839 Speaker 1: to safeguards around childcare and funding. Their even legislation on 18 00:00:46,960 --> 00:00:49,879 Speaker 1: penalty rates as well. But really the pressure is on 19 00:00:50,000 --> 00:00:52,640 Speaker 1: the leaders here, the leader of the Labor Party, the 20 00:00:52,680 --> 00:00:55,560 Speaker 1: Prime Minister Anthony Albineasy to deliver on the huge mandate 21 00:00:55,680 --> 00:00:57,840 Speaker 1: that he has the massive majority that he won at 22 00:00:57,840 --> 00:01:01,160 Speaker 1: the last election, and also on Susan Lee to try 23 00:01:01,280 --> 00:01:05,480 Speaker 1: and unite the Liberals and the National Party to try 24 00:01:05,480 --> 00:01:09,479 Speaker 1: and pull this coalition together to present a unified opposition. 25 00:01:09,560 --> 00:01:10,959 Speaker 1: And it all got underway this week. 26 00:01:11,080 --> 00:01:13,680 Speaker 2: Yeah, big jobs and Lee. The other main story I 27 00:01:13,760 --> 00:01:16,839 Speaker 2: think for the week was Reserve Bank Governor Michelle Bullock 28 00:01:16,959 --> 00:01:21,479 Speaker 2: talking just dousing the excitement about interest rate cuts this year. 29 00:01:21,480 --> 00:01:23,319 Speaker 2: We're supposed to have three or four that's what the 30 00:01:23,360 --> 00:01:26,080 Speaker 2: market thinks, three or four interest rate cuts this year. 31 00:01:26,120 --> 00:01:28,480 Speaker 2: She came out and said, look, underlying inflation, which is 32 00:01:28,480 --> 00:01:31,639 Speaker 2: what they measure, we're not quite as confident that's falling 33 00:01:31,680 --> 00:01:34,680 Speaker 2: as much. Also, people got a bit excited about the 34 00:01:34,720 --> 00:01:37,000 Speaker 2: jump in the unemployment rate a couple of weeks agot 35 00:01:37,000 --> 00:01:39,800 Speaker 2: of four point three percent. Well, the labor market's still tight. 36 00:01:40,160 --> 00:01:42,119 Speaker 2: Maybe we're not going to have three or four interest 37 00:01:42,200 --> 00:01:44,759 Speaker 2: rate cuts this year. I think we'll still have interest 38 00:01:44,840 --> 00:01:46,920 Speaker 2: rate cuts, maybe not three or four though. 39 00:01:47,000 --> 00:01:50,680 Speaker 1: Okay, two big stories. What about most remarkable? What did 40 00:01:50,720 --> 00:01:51,040 Speaker 1: you like? 41 00:01:51,160 --> 00:01:52,840 Speaker 2: I just mean, what's going on in the market at 42 00:01:52,880 --> 00:01:55,680 Speaker 2: the moment is really interesting. In Signia Financial agreed to 43 00:01:55,720 --> 00:01:58,480 Speaker 2: a three point three billion dollar deal from CC Capital. 44 00:01:58,800 --> 00:02:01,760 Speaker 2: We've got us this bit for Santos going on. We've 45 00:02:01,760 --> 00:02:04,640 Speaker 2: got soul Pats bidding for brick works. We've got US 46 00:02:04,680 --> 00:02:08,400 Speaker 2: Property Company Co signed still to purchase domain. Dollar AMA 47 00:02:08,480 --> 00:02:12,560 Speaker 2: bought reject shop. Effect of this last week, plenty of 48 00:02:12,680 --> 00:02:15,359 Speaker 2: m and A going on. All this is happening while 49 00:02:15,360 --> 00:02:18,280 Speaker 2: the mine and the big switch between from banks to 50 00:02:18,440 --> 00:02:21,239 Speaker 2: minus and healthcare companies is on fortesc Your Metals is 51 00:02:21,320 --> 00:02:23,880 Speaker 2: up thirty percent in the last four weeks, pretty incredible. 52 00:02:24,400 --> 00:02:26,320 Speaker 2: Three of the four big banks ain Z being the 53 00:02:26,320 --> 00:02:28,440 Speaker 2: odd one out. Three of the four have gone backwards 54 00:02:28,840 --> 00:02:31,480 Speaker 2: over the last four weeks. So we're just seeing this 55 00:02:31,560 --> 00:02:33,399 Speaker 2: switch plenty going on in markets at the moment. 56 00:02:33,480 --> 00:02:35,520 Speaker 1: What about you, Michael, Yeah, well, look for me. This 57 00:02:35,560 --> 00:02:37,359 Speaker 1: is something that you can talk about at a barbecue 58 00:02:37,400 --> 00:02:39,200 Speaker 1: if your head to one today, because everyone loves talking 59 00:02:39,240 --> 00:02:41,800 Speaker 1: about property, right, And this is a great stat that 60 00:02:41,880 --> 00:02:46,000 Speaker 1: for the first time since the pandemic, property prices are 61 00:02:46,040 --> 00:02:50,680 Speaker 1: increasing in every single capital city at the same time. Everyone, right, 62 00:02:51,400 --> 00:02:54,480 Speaker 1: all eight capital cities, they are all heading up. The 63 00:02:54,520 --> 00:02:58,760 Speaker 1: market's been really kind of turbocharged by these lower interest 64 00:02:58,840 --> 00:03:01,960 Speaker 1: rates and the expectation of more rape cuts to come. 65 00:03:02,280 --> 00:03:05,240 Speaker 1: Great news for homeowners, not great necessarily for home buyers, 66 00:03:05,360 --> 00:03:07,400 Speaker 1: especially not first home buyers. And the other piece of 67 00:03:07,440 --> 00:03:10,000 Speaker 1: news this week was about the rental price growth slowing. 68 00:03:10,720 --> 00:03:13,720 Speaker 1: It is slowing, but it does still mean that people 69 00:03:13,760 --> 00:03:16,880 Speaker 1: on average are paying about ten thousand dollars a year 70 00:03:17,120 --> 00:03:19,840 Speaker 1: more than they were pre COVID for the same rental. 71 00:03:19,919 --> 00:03:22,040 Speaker 1: So a lot going on in the property space at 72 00:03:22,040 --> 00:03:25,720 Speaker 1: the moment. Our mystery category, our next one Sean this 73 00:03:25,800 --> 00:03:28,040 Speaker 1: is it's kind of future story stories that haven't really 74 00:03:28,120 --> 00:03:30,239 Speaker 1: happened yet, but maybe heading in that direction. What would 75 00:03:30,280 --> 00:03:30,560 Speaker 1: you like? 76 00:03:30,800 --> 00:03:32,839 Speaker 2: I like the fact that there was a survey out 77 00:03:32,919 --> 00:03:35,520 Speaker 2: or a report out from the Center for International Economics 78 00:03:35,800 --> 00:03:38,880 Speaker 2: this week that said Chinese car brands are set to 79 00:03:38,880 --> 00:03:42,480 Speaker 2: comprise forty three percent of new vehicles sold in Australia 80 00:03:42,920 --> 00:03:46,440 Speaker 2: within a decade. Biggest shakeup in the sect distance Japanese 81 00:03:46,480 --> 00:03:50,640 Speaker 2: manufacturers overtook Holden as the country's most popular cars or 82 00:03:50,720 --> 00:03:53,560 Speaker 2: read it well. Ten years ago there were zero Chinese 83 00:03:53,640 --> 00:03:56,800 Speaker 2: cars sold in Australia. In ten years time, there's going 84 00:03:56,800 --> 00:04:00,760 Speaker 2: to be forty three percent of cars sold by Chinese manufacturers. 85 00:04:00,840 --> 00:04:03,320 Speaker 2: Companies of course like BYD Gearly Cherry. In fact, at 86 00:04:03,440 --> 00:04:06,040 Speaker 2: least twenty three Chinese brands are already for sale in 87 00:04:06,080 --> 00:04:10,400 Speaker 2: Australia or have confirmed launch plans. Quite amazing how quickly 88 00:04:10,600 --> 00:04:14,640 Speaker 2: Chinese manufacturers have filtered into Australia and Europe and North America. Yeah. 89 00:04:14,640 --> 00:04:17,840 Speaker 1: Absolutely, just a quick mention of my story. The UK 90 00:04:18,160 --> 00:04:20,840 Speaker 1: moving to lower the voting age from eighteen to sixteen. 91 00:04:20,880 --> 00:04:22,719 Speaker 1: If the legislation has passed, it will take effect in 92 00:04:22,720 --> 00:04:25,000 Speaker 1: time for the election there in around twenty twenty nine. 93 00:04:25,200 --> 00:04:27,599 Speaker 1: It's designed to kind of boost participation, boost trust in 94 00:04:27,600 --> 00:04:29,920 Speaker 1: the electoral system because it just people stopped turning out 95 00:04:29,960 --> 00:04:33,640 Speaker 1: to vote. The UK Prime Minister Kirs Armer says people, 96 00:04:33,960 --> 00:04:36,720 Speaker 1: the kids, essentially sixteen seventeen year olds, if they're old 97 00:04:36,760 --> 00:04:38,040 Speaker 1: enough to go out and work, they're old enough to 98 00:04:38,040 --> 00:04:39,640 Speaker 1: pay taxes. I should have a say in where that 99 00:04:39,680 --> 00:04:42,080 Speaker 1: money goes. The question then, is we copy a lot 100 00:04:42,080 --> 00:04:44,760 Speaker 1: of things from the UK. Do we copy this then too, Sean. 101 00:04:45,040 --> 00:04:47,200 Speaker 2: So can I tell my favorite story please? I wish 102 00:04:47,240 --> 00:04:49,560 Speaker 2: there weren't trade deals needed to be done, but in 103 00:04:49,600 --> 00:04:51,839 Speaker 2: a tariff world there does need to be done. Australia 104 00:04:51,880 --> 00:04:54,520 Speaker 2: in the UK signed a fifty year treaty underpinning cooperation 105 00:04:55,000 --> 00:04:59,239 Speaker 2: on the Orcus nuclear powered submarine program. We also allowed 106 00:05:00,320 --> 00:05:03,440 Speaker 2: from the US to be imported into Australia. The US 107 00:05:03,440 --> 00:05:06,240 Speaker 2: itself has done deals over the past week or so, 108 00:05:06,400 --> 00:05:10,800 Speaker 2: a bunch of them, including the Philippines, Japan, Vietnam they'd 109 00:05:10,839 --> 00:05:13,719 Speaker 2: written a few weeks ago, Indonesia, China, still talking to 110 00:05:13,760 --> 00:05:15,880 Speaker 2: the EU. Still need to do a deal with Kenda and Mexico. 111 00:05:16,839 --> 00:05:18,480 Speaker 2: Wish we didn't need these trade deals, but at least 112 00:05:18,480 --> 00:05:19,080 Speaker 2: they're getting done. 113 00:05:19,120 --> 00:05:23,719 Speaker 1: Michael, Yeah, absolutely, And one for me, my favorite story dinosaurs. 114 00:05:24,480 --> 00:05:26,560 Speaker 1: Got to bring this one up. The fossil of a 115 00:05:26,680 --> 00:05:31,040 Speaker 1: juvenile Seratosaurus which is the only juvenile Seratosaurus ever discovered, 116 00:05:31,040 --> 00:05:34,120 Speaker 1: one of only four complete Seratosaurus fossils ever found and 117 00:05:34,480 --> 00:05:36,560 Speaker 1: really did a bit of research. According to a YouTube 118 00:05:36,640 --> 00:05:39,800 Speaker 1: video that I watched Sean, it is the most underrated 119 00:05:39,880 --> 00:05:44,640 Speaker 1: Jurassic carnivore ever. Well, anyway, not underrated by everybody. Someone 120 00:05:44,680 --> 00:05:47,240 Speaker 1: with deep pockets loved it. It was auctioned off by 121 00:05:47,320 --> 00:05:49,719 Speaker 1: Southby's and it was expected to go for about three 122 00:05:49,760 --> 00:05:52,600 Speaker 1: to four maybe five million US dollars. Ended up selling 123 00:05:52,640 --> 00:05:57,320 Speaker 1: for thirty point five million US dollars for this fossil. 124 00:05:57,400 --> 00:05:59,320 Speaker 1: It is an incredible story, and go and check it 125 00:05:59,320 --> 00:06:02,040 Speaker 1: out online. It's the most exciting auction video you will 126 00:06:02,040 --> 00:06:06,120 Speaker 1: ever see just absolutely leaves property auctions in the shade. 127 00:06:06,120 --> 00:06:09,400 Speaker 1: Sean all right, five minutes and pretty much everything you 128 00:06:09,400 --> 00:06:10,560 Speaker 1: need to know in the world of business. 129 00:06:10,560 --> 00:06:11,799 Speaker 2: Thank you very much, Thank you, Michael. 130 00:06:11,839 --> 00:06:13,640 Speaker 1: We'll be back on Monday morning with the top five 131 00:06:13,680 --> 00:06:15,919 Speaker 1: business stories in five minutes. Don't forget to hit follow 132 00:06:15,960 --> 00:06:19,479 Speaker 1: and join us online on Instagram, TikTok, LinkedIn, Facebook and X. 133 00:06:19,520 --> 00:06:22,080 Speaker 1: I'm Michael Thompson and this is the fast five business 134 00:06:22,120 --> 00:06:24,239 Speaker 1: news by Fear and Greed. Have a great weekend.