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Speaker 1: It's Thursday, the twentieth of June twenty twenty four. Welcome

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

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Speaker 1: Will 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, five minutes. Let's go. Story number one is

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Speaker 1: a big one. Opposition leader Peter Dutton has pledged to

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Speaker 1: build seven government owned nuclear power stations by twenty fifty,

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Speaker 1: with the first being ready to go in just over

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Speaker 1: a decade by twenty thirty five if the Coalition wins

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Speaker 1: the next election.

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Speaker 2: Mister Dutton said nuclear power is integral to the energy

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Speaker 2: mix if Australia is to have cheap, clean and reliable

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Speaker 2: power in the long term. The announcement insures energy and

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Speaker 2: the environment will be key battlegrounds during the next election.

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Speaker 2: Under the plan, there will be five large scale power

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Speaker 2: plants and two small modular reactors all in operation by

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Speaker 2: twenty fifty. The large scale plants, which would have a

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Speaker 2: capacity of between one and one point four mega watts,

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Speaker 2: will be built on the site of old coal fired

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Speaker 2: power stations. There's a couple of New South Wales, one

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Speaker 2: in Lithgo, one in Hunter Valley, Trialgon in Victoria, Mount

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Speaker 2: Murchison and Tehrong and Queensland. Now all sites are currently

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Speaker 2: in coalition held electorates. These small modular reactors which are

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Speaker 2: still a concept technology. No one's actually built one yet.

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Speaker 2: The plan is to build those in Port Agusta and

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Speaker 2: South Australia and Collie in Western Australia. Mister Dutton said

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Speaker 2: they'll be part of an energy mix with renewables and

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Speaker 2: significant amounts of gas, particularly in the interim period. He

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Speaker 2: said nuclear power was more realistic than green hydrogen, which

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Speaker 2: is still not commercially viable. No details on the cost,

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Speaker 2: Mister Dutton said that will come in a few weeks time.

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Speaker 2: But remember last month the CSIRO estimated the nation's first

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Speaker 2: large scale nuclear power plant could cost as much as

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Speaker 2: seventeen billion dollars and wouldn't be operational till twenty forty.

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Speaker 1: Surean there is plenty in all of that, but just quickly,

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Speaker 1: what was the immediate response.

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Speaker 2: Like pylon really? Prime miust Anthony Albaniez he called that

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Speaker 2: economic madness. Trees for Jim Chalmers said nuclear takes longer,

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Speaker 2: costs more and would waste Australia's unique combination of geological, geographical,

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Speaker 2: geopolitical and meteorological advantages. None of the state governments kind

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Speaker 2: of came out in support of it, particularly those where

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Speaker 2: the power plants are supposed to be. Business community was mixed.

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Speaker 2: The Minerals Council Australia came out in favor of it.

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Speaker 2: What it does do is in the run up to

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Speaker 2: the next election. Both agreed coal fired power stations need

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Speaker 2: to close. Both agree we need gas transition. One party

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Speaker 2: ONTs nuclear, the other is backing wind, solar, hydro and hydrogen.

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Speaker 1: All right, moving on to story number two. Now and

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Speaker 1: Wall Street Sean has a new king. It's official.

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Speaker 2: It is the value of Nvidio, the US based chip

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Speaker 2: maker that manufactures the brains for artificial intelligence, hit three

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Speaker 2: point four trillion US dollars yesterday, more than Microsoft, more

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Speaker 2: than Apple. It debuted on the Nasdaq stock exchange in

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Speaker 2: nineteen ninety nine, made the S and P five hundred

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Speaker 2: three years later. Stocks up ten percent in the last

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Speaker 2: five days, forty percent the last month, one hundred and

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Speaker 2: seventy percent in the past year, and five one hundred

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Speaker 2: and ninety one thousand percent since it's IPO twenty five

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Speaker 2: years ago. Its place in history Michael is now assured.

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Speaker 1: Yeah, certainly seems to be now, Shawn. Story number three.

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Speaker 1: Home prices are forecast to keep rising over the next year,

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Speaker 1: with most capital cities reaching new highs. According to leading

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Speaker 1: online property group Domain.

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Speaker 2: Strong population growth, struggles getting new homes built an increased

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Speaker 2: borrowing power will drive the growth for both houses and units.

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Speaker 2: Domain predicts house prices in Perth are tipped to gray

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Speaker 2: by around nine percent, Adelaide at eight percent, seven percent

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Speaker 2: in Sydney and Brisbane. Prices in many regional centers, including

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Speaker 2: the Sunshine Coast in Queensland, are likely to hit new records.

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Speaker 2: According to Domain News, isn't so good for homeowners in

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Speaker 2: some of the other capitals, with growth in Canberra forecast

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Speaker 2: to come in around two percent and just one percent

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Speaker 2: in Melbourne. Sydney, Brisbane, Adelaide and Perth also lead the

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Speaker 2: unit's market.

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Speaker 1: Story number four. There are growing concerns Sean about the

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Speaker 1: shortage of air traffic controllers at secondary airports around the country.

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Speaker 1: This is pretty alarming. Some towers are being unmanned at

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Speaker 1: certain times of the week.

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Speaker 2: There are currently no overnight air traffic controlled services at Darwin,

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Speaker 2: yet around midnight on most days, more than a dozen

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Speaker 2: flights have to arrive or depart with almost no guidance

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Speaker 2: from the ground. Townsville doesn't staff it's control tower over weekends,

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Speaker 2: and almost fifty commercial services have to coordinate their own

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Speaker 2: landings or takeoffs on Sundays alone. According to a report

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Speaker 2: on Bloomberg, it means flight crews are taking on the

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Speaker 2: task of distancing their planes from other air traffic, and

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Speaker 2: pilots say landing without direction from a tower removes a

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Speaker 2: very important layer of security at a critical period of

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Speaker 2: the flight.

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Speaker 1: All right, last one story number five, This is kind

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Speaker 1: of funny. Actually, McDonald's will no longer use artificial intelligence

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Speaker 1: services at its drive throughs after customers orders were you've

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Speaker 1: got to say, wildly misinterpreted.

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Speaker 2: Yes, the fast food chain has been trialing the voice

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Speaker 2: recognition software since twenty nineteen, but there have been new

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Speaker 2: urous examples of the technology failing to record orders correctly.

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Speaker 2: According to reporting the Telegraph of London, one person has

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Speaker 2: given a bacon topped ice cream while system malfunctions that

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Speaker 2: caused hundreds of dollars worth of nuggets to be automatically

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Speaker 2: added to an order have spawned a series of mocking videos.

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Speaker 2: In one post it on TikTok, a woman attempts to

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Speaker 2: order caramel ice cream but instead gets multiple portions of butter.

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Speaker 2: Who knows McDonald's whole franchise is that the technology will

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Speaker 2: be removed by the end of July.

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Speaker 1: All right, there we go the top five business stories

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Speaker 1: in five minutes. Thank you Sean, Thank you Michael. It

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Speaker 1: is Thursday, the twentieth of June twenty twenty four. Remember

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Speaker 1: to follow on the podcast and five minutes isn't enough.

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Speaker 1: You'll find our longer daily show called Fear and Greed

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Speaker 1: wherever you listen to podcasts, and don't forget to check

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Speaker 1: out the new episode of our sister podcast, How Do

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Speaker 1: They Afford That? With financial planner Canna Campbell. This week

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Speaker 1: we take a look at five different ways to budget

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Speaker 1: your money. The fifty to thirty twenty were all the

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Speaker 1: envelope system, zero based budgeting. A whole lot of different ones.

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Speaker 1: A get a lot of airtime on social media, but

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Speaker 1: they are not all created equals, so check that one out.

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Speaker 1: I'll put a link in today's show notes. I'm Michael Thompson,

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Speaker 1: and that was the past. By Business News, by fear

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Speaker 1: and greed had a great date