1 00:00:03,840 --> 00:00:06,920 Speaker 1: It's Monday, the thirtieth of March twenty twenty six. Welcome 2 00:00:06,960 --> 00:00:09,320 Speaker 1: to the Fast five Business News by Fear and Greed. 3 00:00:09,320 --> 00:00:11,119 Speaker 1: Will we give you the top five business stories you 4 00:00:11,160 --> 00:00:13,560 Speaker 1: need to know in just five minutes. I'm Michael Thompson 5 00:00:13,600 --> 00:00:14,920 Speaker 1: and good morning Sean Aylmer. 6 00:00:15,240 --> 00:00:16,800 Speaker 2: Good morning Michael, Sean. 7 00:00:16,880 --> 00:00:19,919 Speaker 1: Five stories, five minutes, let's go story number one. National 8 00:00:19,960 --> 00:00:23,880 Speaker 1: Cabinet meets today amidstaring fuel prices and tumbling equity markets 9 00:00:24,160 --> 00:00:26,640 Speaker 1: as the reality of a prolonged war in the Middle 10 00:00:26,640 --> 00:00:30,920 Speaker 1: East starts hitting main street Australians. National Cabinet today will 11 00:00:30,960 --> 00:00:35,680 Speaker 1: focus on fuel security and supply, particularly for regional Australia, 12 00:00:36,159 --> 00:00:40,040 Speaker 1: but according to media reports, petrol rationing is still unlikely. 13 00:00:40,680 --> 00:00:43,560 Speaker 2: It comes after the Albanezy government over the weekend said 14 00:00:43,560 --> 00:00:47,280 Speaker 2: it will underwrite purchases of fuel by private companies. Basically, 15 00:00:47,360 --> 00:00:49,519 Speaker 2: they will act as an insurance scheme for buias. The 16 00:00:49,560 --> 00:00:52,360 Speaker 2: fuel importers should be less worried about buying that fuel 17 00:00:52,360 --> 00:00:55,520 Speaker 2: at sky high prices given the government has provided them 18 00:00:55,520 --> 00:00:56,520 Speaker 2: with a safety net. 19 00:00:56,640 --> 00:00:59,080 Speaker 1: Yeah, and some states are actually moving ahead with their 20 00:00:59,120 --> 00:01:02,200 Speaker 1: own plans to read juice reliance on petrol and diesel 21 00:01:03,160 --> 00:01:06,119 Speaker 1: in Victoria Premier just Into Allen has announced free public 22 00:01:06,160 --> 00:01:09,520 Speaker 1: transport in the state from tomorrow. Wouldn't be surprising, It'd 23 00:01:09,560 --> 00:01:12,200 Speaker 1: have to say if other states do something similar. Yesterday, 24 00:01:12,280 --> 00:01:15,520 Speaker 1: Environment Minister Murray what the federal minister said that even 25 00:01:15,520 --> 00:01:18,080 Speaker 1: if this conflict was to end tomorrow, this is going 26 00:01:18,160 --> 00:01:21,039 Speaker 1: to be There's going to be a long tail here. 27 00:01:21,440 --> 00:01:25,120 Speaker 1: Australia has thirty nine days worth of petrol and thirty 28 00:01:25,200 --> 00:01:27,040 Speaker 1: days worth of diesel and jet fuel. 29 00:01:27,640 --> 00:01:31,280 Speaker 2: It isn't only the petrol bowser that's problematic, Michael. Fertilizer 30 00:01:31,360 --> 00:01:35,759 Speaker 2: deliveries are likely to disrupt winter plantings that will hit 31 00:01:35,760 --> 00:01:38,960 Speaker 2: the food supply. Airfares have swored in recent weeks, disrupting 32 00:01:39,040 --> 00:01:42,360 Speaker 2: travel plans for thousands of Australians. Freight costs through on 33 00:01:42,440 --> 00:01:45,240 Speaker 2: the rise. That will directly feed through to inflation. There's 34 00:01:45,319 --> 00:01:48,200 Speaker 2: potential for pharmaceutical products to be delayed. We input about 35 00:01:48,240 --> 00:01:51,080 Speaker 2: ninety percent of our medicines. That's before we really get 36 00:01:51,080 --> 00:01:53,680 Speaker 2: into the heavy economics of it. Obviously, this is inflation. 37 00:01:53,800 --> 00:01:55,920 Speaker 2: We've seen the Reserve Bank starting to lift interest rates. 38 00:01:56,400 --> 00:01:59,360 Speaker 2: Treasure Jim Chalmers. He has said that economic growth will 39 00:01:59,360 --> 00:02:02,760 Speaker 2: be hit as well. Unfortunately too there's no real end 40 00:02:02,800 --> 00:02:03,920 Speaker 2: in sight to the fighting. 41 00:02:04,320 --> 00:02:06,640 Speaker 1: Yeah, indeed, and that leads us on to story number two, 42 00:02:06,680 --> 00:02:09,760 Speaker 1: because Wall Street is really bearing the brunt of it, 43 00:02:09,800 --> 00:02:12,960 Speaker 1: with the Dow Jones, which measures the top thirty stocks 44 00:02:13,000 --> 00:02:16,600 Speaker 1: on the burs falling into correction territory over the weekend, 45 00:02:16,639 --> 00:02:19,360 Speaker 1: while the broad based SMP five hundred ended its fifth 46 00:02:19,360 --> 00:02:24,359 Speaker 1: straight down week, the worst losing streak now Sean since 47 00:02:24,400 --> 00:02:25,320 Speaker 1: twenty twenty two. 48 00:02:26,040 --> 00:02:28,880 Speaker 2: Yes, all about rising energy prices and the possibility of 49 00:02:28,919 --> 00:02:33,080 Speaker 2: a prolonged war in Iran, tech stocks are feeling at most. 50 00:02:33,120 --> 00:02:35,720 Speaker 2: The tech heavy NASDAK closed down more than two percent 51 00:02:35,840 --> 00:02:38,360 Speaker 2: over the weekend. The index had its worst week in 52 00:02:38,480 --> 00:02:42,200 Speaker 2: nearly a year. It's down eleven percent since its peak 53 00:02:42,200 --> 00:02:45,440 Speaker 2: in October. Two of the worst performers are the two 54 00:02:45,800 --> 00:02:50,200 Speaker 2: biggest AI spenders, so since late October since that peak, 55 00:02:50,600 --> 00:02:54,360 Speaker 2: Microsoft down thirty four percent, Meta down twenty nine percent, 56 00:02:54,760 --> 00:02:58,520 Speaker 2: huge numbers even in video the street's favorite stocks off 57 00:02:58,720 --> 00:03:01,480 Speaker 2: twenty percent from its high. I must say our local 58 00:03:01,520 --> 00:03:04,600 Speaker 2: market's been a little less volatile. We are still percent 59 00:03:04,639 --> 00:03:06,960 Speaker 2: of our peak of four weeks ago, but just a 60 00:03:07,040 --> 00:03:09,680 Speaker 2: bit less volatile than Wall Street. 61 00:03:09,680 --> 00:03:13,640 Speaker 1: Story number three. The housing market is slowing appreciably, with 62 00:03:13,720 --> 00:03:16,680 Speaker 1: the preliminary clearance rate for auctions over the past week 63 00:03:16,919 --> 00:03:19,400 Speaker 1: at its lowest level since twenty twenty two, with the 64 00:03:19,440 --> 00:03:22,880 Speaker 1: Sydney and Brisbane markets hit hardest. Rising interest rates and 65 00:03:22,880 --> 00:03:25,920 Speaker 1: economic uncertainty, along with a sharp increase as well in 66 00:03:25,960 --> 00:03:28,560 Speaker 1: the number of homes that are actually up for sale, 67 00:03:28,760 --> 00:03:32,120 Speaker 1: have combined to push the national preliminary clearance rate to 68 00:03:32,200 --> 00:03:36,200 Speaker 1: sixty point nine percent in recent weeks. The final clearance 69 00:03:36,280 --> 00:03:39,720 Speaker 1: rate has then been around six percentage points below the 70 00:03:39,760 --> 00:03:43,480 Speaker 1: preliminary rate, meaning nearly one in two homes across the 71 00:03:43,560 --> 00:03:44,960 Speaker 1: country is not selling. 72 00:03:45,760 --> 00:03:49,640 Speaker 2: Not great, Michael. Confirmation of the slowdown is expected on Wednesday, 73 00:03:49,640 --> 00:03:52,160 Speaker 2: when house price figures for the month of March or released. 74 00:03:52,480 --> 00:03:55,080 Speaker 2: Nearly four thousand homes went to auction across the country. 75 00:03:55,080 --> 00:03:57,920 Speaker 2: Melbourne was busiest, nineteen hundred homes under the hammer, the 76 00:03:57,960 --> 00:04:01,080 Speaker 2: most since December twenty twenty one. One. It's clearance rate 77 00:04:01,120 --> 00:04:03,520 Speaker 2: of sixty three and a half percent suggests that market's 78 00:04:03,560 --> 00:04:07,240 Speaker 2: holding up okay. In Sydney, however, the clearing strate came 79 00:04:07,280 --> 00:04:10,840 Speaker 2: into under fifty eight percent from about fifteen hundred octions. 80 00:04:11,280 --> 00:04:14,080 Speaker 2: Last time that city had that sort of figure was 81 00:04:14,120 --> 00:04:16,760 Speaker 2: December twenty twenty four. Brisbane came in at fifty nine percent, 82 00:04:16,839 --> 00:04:19,680 Speaker 2: Adelaid nearly eighty percent, and Per sixty two and a 83 00:04:19,720 --> 00:04:20,599 Speaker 2: half percent. 84 00:04:20,720 --> 00:04:25,159 Speaker 1: Story Number four. Almost ten million households spent eighty three 85 00:04:25,360 --> 00:04:29,159 Speaker 1: billion dollars online last year in Australia, a significant increase 86 00:04:29,160 --> 00:04:32,360 Speaker 1: from a year earlier. The latest Australia Post e Commerce 87 00:04:32,400 --> 00:04:35,120 Speaker 1: report says the rise in spend was fourteen percent in 88 00:04:35,160 --> 00:04:38,799 Speaker 1: twenty twenty five, and two in five households that shop 89 00:04:38,880 --> 00:04:43,080 Speaker 1: online do so at least fortnightly. Sure. The report also 90 00:04:43,120 --> 00:04:47,240 Speaker 1: found that shopper promiscuity is rising. Shoppers are more selective 91 00:04:47,240 --> 00:04:50,000 Speaker 1: with a greater focus on value. We're increasingly happy to 92 00:04:50,120 --> 00:04:55,000 Speaker 1: use AI and while individual basket size is falling, online 93 00:04:55,040 --> 00:04:58,280 Speaker 1: spending overall is growing, so people are shopping more regularly. 94 00:04:58,920 --> 00:05:02,080 Speaker 2: Millennials are the biggest online shoppers. That's you, Michael. More 95 00:05:02,120 --> 00:05:05,159 Speaker 2: than half are interested in buying second hand items online 96 00:05:05,200 --> 00:05:07,960 Speaker 2: as well, something I would never do. Gen Zas are 97 00:05:07,960 --> 00:05:10,680 Speaker 2: most likely to consult AI when researching what to buy. 98 00:05:10,720 --> 00:05:13,720 Speaker 2: They're also heavy uses of social media for product discovery. 99 00:05:14,279 --> 00:05:17,839 Speaker 2: Gen X's Go gen X's we are very pragmatic, happy 100 00:05:17,839 --> 00:05:20,080 Speaker 2: to wait longer for delivery if it means paying less 101 00:05:20,200 --> 00:05:22,960 Speaker 2: delivery experiences, and I suppose this is where Australia Post 102 00:05:23,040 --> 00:05:25,719 Speaker 2: fits in is improving seventy three percent of shoppers set 103 00:05:25,760 --> 00:05:28,520 Speaker 2: a good delivery experience makes them more likely to shop 104 00:05:28,520 --> 00:05:30,080 Speaker 2: online instead of in store. 105 00:05:31,000 --> 00:05:34,640 Speaker 1: Last one story Number five. Interest in electric vehicle purchases 106 00:05:34,720 --> 00:05:38,160 Speaker 1: has almost doubled in recent weeks, with finance inquiries up 107 00:05:38,200 --> 00:05:41,680 Speaker 1: eighty eight percent this month alone. National Australian Bank has 108 00:05:41,760 --> 00:05:45,799 Speaker 1: recorded a one hundred percent increase in ev loans, driven 109 00:05:46,120 --> 00:05:49,640 Speaker 1: of course by fuel pressures and business costs, and the 110 00:05:50,040 --> 00:05:52,520 Speaker 1: eighty eight percent jump in finance inquiries came from NAB 111 00:05:52,560 --> 00:05:56,440 Speaker 1: two ahead of the spike in fuel prices. Battery electric 112 00:05:56,560 --> 00:05:59,839 Speaker 1: vehicles accounted for twelve percent of the market. That in 113 00:05:59,880 --> 00:06:02,320 Speaker 1: it self was a record high. You'd have to say 114 00:06:02,320 --> 00:06:04,880 Speaker 1: with the soaring cost of fuel, that level is likely 115 00:06:04,920 --> 00:06:06,040 Speaker 1: to get pushed a bit higher. 116 00:06:06,720 --> 00:06:10,360 Speaker 2: That's right. Cherry Motors, which makes affordable EV's in Australia, 117 00:06:10,360 --> 00:06:13,080 Speaker 2: said the take up of their vehicles had increased dramatically. 118 00:06:13,279 --> 00:06:16,880 Speaker 2: In fact, that Cherry t Go four Pro in February 119 00:06:17,000 --> 00:06:20,960 Speaker 2: was the country's number three selling car, having double sales 120 00:06:20,960 --> 00:06:23,919 Speaker 2: from a year earlier. NAB said the top financed options 121 00:06:23,920 --> 00:06:28,839 Speaker 2: for evs in March with byd Cherry, GWM and Tesla. Jolt, 122 00:06:28,839 --> 00:06:31,320 Speaker 2: one of the country's largest fast charging networks, has recorded 123 00:06:31,320 --> 00:06:33,320 Speaker 2: a thirty percent jumping sign ups over March. We don't 124 00:06:33,360 --> 00:06:36,320 Speaker 2: have the official figures yet, but clearly the petrol crisis 125 00:06:36,720 --> 00:06:39,120 Speaker 2: is helping boost sales of evs. 126 00:06:39,360 --> 00:06:41,440 Speaker 1: Indeed, there we go to the top five business stories 127 00:06:41,480 --> 00:06:44,159 Speaker 1: in five minutes. Thank you Sean, Thank you Michael. It 128 00:06:44,240 --> 00:06:46,960 Speaker 1: is Monday, the thirtieth of March twenty twenty six. Remember 129 00:06:46,960 --> 00:06:49,279 Speaker 1: to hit follow on the podcast and if five minutes 130 00:06:49,320 --> 00:06:51,760 Speaker 1: isn't enough, you can find our longer daily show called 131 00:06:51,800 --> 00:06:54,760 Speaker 1: Fear and Greed whereever you listen to podcasts. I'm Michael 132 00:06:54,760 --> 00:06:57,000 Speaker 1: Thompson that they was the fast five business news by 133 00:06:57,040 --> 00:06:58,720 Speaker 1: Fear and Greed. Had a great day.