1 00:00:03,800 --> 00:00:06,520 Speaker 1: It's Monday, the twenty fifth of August twenty twenty five. 2 00:00:06,600 --> 00:00:09,280 Speaker 1: Welcome to the Fast five Business News by Fear and Greed, 3 00:00:09,280 --> 00:00:11,080 Speaker 1: where we give you the top five business stories you 4 00:00:11,160 --> 00:00:13,600 Speaker 1: need to know in just five minutes. Are Michael Thompson 5 00:00:13,640 --> 00:00:15,200 Speaker 1: and Good Morning Natalie McDonald. 6 00:00:15,360 --> 00:00:17,239 Speaker 2: Good morning Michael, Natalie. 7 00:00:17,280 --> 00:00:19,759 Speaker 1: Five stories in five minutes. Let's get cracking story number one. 8 00:00:19,800 --> 00:00:22,840 Speaker 1: Australia's corporate earning season has just over a week left 9 00:00:22,880 --> 00:00:24,560 Speaker 1: to go, and to say it's been a roller coaster 10 00:00:24,600 --> 00:00:29,040 Speaker 1: would probably be an understatement because investor reactions have been extreme, 11 00:00:29,560 --> 00:00:31,840 Speaker 1: even for some of the market giants we had. Commonwealth 12 00:00:31,840 --> 00:00:34,920 Speaker 1: Bank dropped five percent in one day when its results 13 00:00:34,960 --> 00:00:38,680 Speaker 1: came out. CSL tumbled seventeen percent and then kept going. 14 00:00:39,159 --> 00:00:42,280 Speaker 1: James Hardy lost nearly forty percent last week. Now, these 15 00:00:42,320 --> 00:00:45,879 Speaker 1: moves then caused wide swings in share market performance. The 16 00:00:45,920 --> 00:00:48,760 Speaker 1: market punched through the nine thousand point mark last week, 17 00:00:48,800 --> 00:00:51,519 Speaker 1: but with the underlying warning of what could potentially emerge 18 00:00:51,520 --> 00:00:52,320 Speaker 1: this week. 19 00:00:52,320 --> 00:00:55,800 Speaker 2: It's laid bare some very big lessons for corporate Australia 20 00:00:55,920 --> 00:00:59,560 Speaker 2: right now. Productivity, for one, pas Borrow's results prove that 21 00:00:59,640 --> 00:01:03,160 Speaker 2: title pricing and discipline and delivering, while giants like Telstra 22 00:01:03,280 --> 00:01:07,720 Speaker 2: origin CBA are betting billions on tech and renewables, and 23 00:01:07,760 --> 00:01:11,240 Speaker 2: also consumers are back. Tax cuts and easing rates are 24 00:01:11,240 --> 00:01:14,560 Speaker 2: lifting household spending. Nick Scarley and Baby Bunting are flying, 25 00:01:14,840 --> 00:01:17,319 Speaker 2: and even a crime spre a rebel sport caldn't keep 26 00:01:17,360 --> 00:01:20,240 Speaker 2: results down for super retail. But if you're not riding 27 00:01:20,240 --> 00:01:22,800 Speaker 2: that wave, get out of the water, as Ingham's proved 28 00:01:22,840 --> 00:01:25,480 Speaker 2: on Friday, It's share price closed twenty percent lower on 29 00:01:25,520 --> 00:01:29,319 Speaker 2: weaker outlook, and all Worth changing its contract for chicken 30 00:01:29,319 --> 00:01:33,200 Speaker 2: supplies and leadership is really a strong one. JB hi 31 00:01:33,319 --> 00:01:36,160 Speaker 2: Fi dropped eight percent on a CEO change, while Aria 32 00:01:36,280 --> 00:01:39,800 Speaker 2: and Brevel one investor backing for strong management, and all 33 00:01:39,800 --> 00:01:42,839 Speaker 2: of this really comes down to poor strategic moves being 34 00:01:42,880 --> 00:01:47,320 Speaker 2: punished extremely hard. We saw CSL's vaccine spin off really 35 00:01:47,400 --> 00:01:50,720 Speaker 2: damaging share price performance and James Hardy's fourteen billion dollar 36 00:01:50,760 --> 00:01:54,160 Speaker 2: push into a weaker US market. It comes back to 37 00:01:54,200 --> 00:01:57,520 Speaker 2: that valuations, though they are sky high for CBA, the 38 00:01:57,680 --> 00:02:01,720 Speaker 2: og poster child of this conversation Grisminy Gomez, which fell 39 00:02:01,760 --> 00:02:05,760 Speaker 2: almost twenty percent on Friday, that good enough just isn't 40 00:02:05,760 --> 00:02:07,120 Speaker 2: good enough in this context. 41 00:02:07,440 --> 00:02:09,880 Speaker 1: Yeah, it's interesting and there's a lot more results coming 42 00:02:09,919 --> 00:02:12,919 Speaker 1: out this week. Story number two is linked to story 43 00:02:12,960 --> 00:02:16,239 Speaker 1: number one we mentioned James Hardy. It is facing fresh 44 00:02:16,240 --> 00:02:20,040 Speaker 1: scrutiny after an LA law firm launched an investigation into 45 00:02:20,040 --> 00:02:23,440 Speaker 1: whether the company misled investors following a shock sixty percent 46 00:02:23,480 --> 00:02:27,359 Speaker 1: fall in quarterly net profit, which wiped that forty percent 47 00:02:27,480 --> 00:02:30,440 Speaker 1: or nearly forty percent off its value in just two days. 48 00:02:30,720 --> 00:02:33,760 Speaker 1: How do we go though, from poor results to a lawsuit? 49 00:02:33,760 --> 00:02:35,920 Speaker 1: A potential lawsuit, the seller. 50 00:02:35,919 --> 00:02:40,280 Speaker 2: Has reignited anger over James Hardy's controversial fourteen billion US 51 00:02:40,360 --> 00:02:44,760 Speaker 2: dollar acquisition of US decking company AZEC, completed earlier this year, 52 00:02:45,120 --> 00:02:48,079 Speaker 2: which some investors said was overpaid at the time when 53 00:02:48,200 --> 00:02:51,560 Speaker 2: US construction was already showing signs of slowing. I mentioned 54 00:02:51,600 --> 00:02:53,720 Speaker 2: just last week that this was the deal that shifted 55 00:02:53,760 --> 00:02:56,880 Speaker 2: the company's primary listing to New York. The law firm 56 00:02:56,919 --> 00:02:59,880 Speaker 2: involved said its inquiries would focus on whether the Air 57 00:03:00,400 --> 00:03:03,560 Speaker 2: and New York listed James Hardy issued false and or 58 00:03:03,639 --> 00:03:08,840 Speaker 2: misleading statements and or failed to disclose information personent to investors. 59 00:03:09,120 --> 00:03:12,119 Speaker 2: The company is actually already defending a separate class action 60 00:03:12,200 --> 00:03:15,839 Speaker 2: in Australia over past disclosure practices all right. 61 00:03:15,840 --> 00:03:18,960 Speaker 1: Story number three. Super funds are after a flying start 62 00:03:19,040 --> 00:03:21,600 Speaker 1: to the new financial year, the median growth fund up 63 00:03:21,600 --> 00:03:24,240 Speaker 1: two point seven percent over the first seven weeks of 64 00:03:24,400 --> 00:03:26,680 Speaker 1: FY twenty six. This is according to chant West. 65 00:03:27,200 --> 00:03:29,800 Speaker 2: July alone delivered a one and a half percent lift 66 00:03:29,800 --> 00:03:33,119 Speaker 2: for growth funds, supported by rising global share markets, US 67 00:03:33,120 --> 00:03:37,720 Speaker 2: corporate earnings and progress on trade negotiations. Emerging markets leading 68 00:03:37,760 --> 00:03:40,800 Speaker 2: the way with gains of three point eight percent, while 69 00:03:40,840 --> 00:03:44,600 Speaker 2: Australian shares rose two point four percent. Chart West reporting 70 00:03:44,640 --> 00:03:49,480 Speaker 2: that despite global uncertainty, ongoing super is still delivering for 71 00:03:49,560 --> 00:03:52,320 Speaker 2: the long haul, with growth funds averaging eight percent a 72 00:03:52,400 --> 00:03:56,000 Speaker 2: year since compulsory super began more than three decades ago. 73 00:03:56,640 --> 00:03:59,240 Speaker 1: Story number four. We know that when the Reserve Bank 74 00:03:59,240 --> 00:04:01,840 Speaker 1: cut rights a couple of weeks ago, it really did 75 00:04:02,040 --> 00:04:04,960 Speaker 1: deliver a lot of confidence to the housing market, and 76 00:04:05,000 --> 00:04:08,360 Speaker 1: auction clearance rights have continued to rise, hitting their highest 77 00:04:08,400 --> 00:04:11,960 Speaker 1: levels since February last year. Certainly doesn't hurt that financial 78 00:04:11,960 --> 00:04:14,680 Speaker 1: markets are tipping between two and three more rite cats 79 00:04:14,720 --> 00:04:15,680 Speaker 1: by midnext year. 80 00:04:16,320 --> 00:04:20,360 Speaker 2: Across Australia's capital cities. The combined preliminary auction clearance rate 81 00:04:20,400 --> 00:04:23,200 Speaker 2: climbed to seventy five point three percent, driven by strong 82 00:04:23,240 --> 00:04:26,560 Speaker 2: growth in Sydney coming in at seventy nine percent. Meanwhile, 83 00:04:26,640 --> 00:04:30,159 Speaker 2: Melbourne logged a clearance rate of seventy five point four percent. 84 00:04:30,520 --> 00:04:33,919 Speaker 2: I did, however, stumble across quite an interesting negative for 85 00:04:34,000 --> 00:04:37,080 Speaker 2: rising house prices though, and that's that rising living costs, 86 00:04:37,120 --> 00:04:41,640 Speaker 2: including maintaining two properties, are actually forcing more divorced couples 87 00:04:41,640 --> 00:04:44,640 Speaker 2: to keep living under the same roof. Data from the 88 00:04:44,640 --> 00:04:47,479 Speaker 2: Family Court found that nineteen percent of twenty four to 89 00:04:47,520 --> 00:04:52,040 Speaker 2: twenty five divorce applications involved couples cohabiting, and the divorce 90 00:04:52,120 --> 00:04:55,039 Speaker 2: rate in Australia is actually at its lowest level since 91 00:04:55,080 --> 00:04:58,080 Speaker 2: the introduction of no faul divorce in nineteen seventy six, 92 00:04:58,360 --> 00:05:01,920 Speaker 2: which lawyers are attributing to as I say, these rising 93 00:05:01,960 --> 00:05:02,799 Speaker 2: property costs. 94 00:05:03,160 --> 00:05:06,839 Speaker 1: Yeah, so people just can't afford to separate. Exactly that, 95 00:05:07,520 --> 00:05:10,440 Speaker 1: all right? Last one story number five? How about this? 96 00:05:10,760 --> 00:05:14,279 Speaker 1: Rising crime in Victoria has prompted Wilworst and Colds to 97 00:05:14,400 --> 00:05:17,640 Speaker 1: issue body cameras to hundreds of frontline staff and train 98 00:05:17,839 --> 00:05:23,000 Speaker 1: thousands more in de escalation, including using virtual reality simulations. 99 00:05:23,480 --> 00:05:27,240 Speaker 2: Some numbers for you. Wolworth reported forty five store lockdowns 100 00:05:27,240 --> 00:05:30,719 Speaker 2: this year, while Coles saw forty percent more incidents than 101 00:05:30,800 --> 00:05:34,039 Speaker 2: in its New South Wales stores. The Victorian government has 102 00:05:34,120 --> 00:05:38,200 Speaker 2: responded with tougher bail laws, machete bands and increased police powers, 103 00:05:38,480 --> 00:05:41,880 Speaker 2: but retails are calling for stronger security measures to protect 104 00:05:41,880 --> 00:05:44,479 Speaker 2: staff and customers. And this is where the body cameras 105 00:05:44,520 --> 00:05:47,960 Speaker 2: comes in. It comes just days after super retail chief 106 00:05:48,040 --> 00:05:52,360 Speaker 2: exact Anthony Herety, described industrial scale theft at its Rebel 107 00:05:52,360 --> 00:05:55,919 Speaker 2: Sports stores in Victoria as being out of control, denting 108 00:05:56,000 --> 00:05:57,680 Speaker 2: Rebel's gross margins for the year. 109 00:05:58,000 --> 00:05:59,599 Speaker 1: All right, there we go to the top five business 110 00:05:59,640 --> 00:06:02,000 Speaker 1: stories in five minutes. Thank you very much, Natalie, Thank 111 00:06:02,000 --> 00:06:04,440 Speaker 1: you Michael. It is Monday, the twenty fifth of August 112 00:06:04,520 --> 00:06:07,039 Speaker 1: twenty twenty five. Remember to hit follow on the podcast, 113 00:06:07,120 --> 00:06:09,040 Speaker 1: and if five minutes isn't enough, you can find our 114 00:06:09,080 --> 00:06:11,880 Speaker 1: longer daily show called Fear and Greed wherever you listen 115 00:06:11,960 --> 00:06:14,279 Speaker 1: to podcasts. I'm Michael Thompson and that was the past 116 00:06:14,320 --> 00:06:16,960 Speaker 1: five business news by Fear and Greed. Have a great day.