1 00:00:03,920 --> 00:00:07,080 Speaker 1: It's Monday, the fifteenth of December twenty twenty five. Welcome 2 00:00:07,120 --> 00:00:09,640 Speaker 1: to the Fast five Business News by Fear and Greed, 3 00:00:09,640 --> 00:00:11,600 Speaker 1: where we give you the top five business stories you 4 00:00:11,640 --> 00:00:13,920 Speaker 1: need to know in just five minutes. O'm Michael Thompson 5 00:00:13,920 --> 00:00:18,240 Speaker 1: and good morning Sean Ailmer. Good morning Michael, Sean story 6 00:00:18,320 --> 00:00:22,159 Speaker 1: number one Today. Australia is awakening to the horror of 7 00:00:22,200 --> 00:00:25,280 Speaker 1: a terrorist attack on a large crowd celebrating the Jewish 8 00:00:25,360 --> 00:00:29,840 Speaker 1: Huniker Festival at Bondei Beach in Sydney last night. At 9 00:00:29,960 --> 00:00:33,800 Speaker 1: least twelve people have died, including one of the two gunmen, 10 00:00:33,880 --> 00:00:37,040 Speaker 1: and twenty nine people are injured, including two police officers. 11 00:00:37,520 --> 00:00:40,600 Speaker 2: Prime Minister Anthony Albanezi said it was a targeted attack 12 00:00:40,680 --> 00:00:44,440 Speaker 2: on Jewish Australians and an act of evil anti Semitism. 13 00:00:44,920 --> 00:00:47,800 Speaker 2: Late last night, one of the alleged gunmen was identified 14 00:00:47,920 --> 00:00:52,120 Speaker 2: as Western Sydney bricklayer Navid Akram, a twenty four year old. 15 00:00:52,479 --> 00:00:56,400 Speaker 2: Several improvised explosive devices were also removed by bomb disposal 16 00:00:56,440 --> 00:01:00,440 Speaker 2: experts from a car parked on Campbell Praye at Bondeia, 17 00:01:00,480 --> 00:01:03,680 Speaker 2: which was linked to the deceased gunment. The police operation 18 00:01:03,800 --> 00:01:06,600 Speaker 2: extended to a Street in the western Sydney suburb of 19 00:01:06,640 --> 00:01:09,760 Speaker 2: Bonnie Rig, where two people were arrested in connection to 20 00:01:09,800 --> 00:01:13,240 Speaker 2: the Bondai shootings overnight. Michael, there's been an outpouring of 21 00:01:13,280 --> 00:01:16,360 Speaker 2: support for the Australian Jewish community, from the Prime Minister, 22 00:01:16,440 --> 00:01:21,119 Speaker 2: to King Charles the Third to ordinary citizens. It really 23 00:01:21,200 --> 00:01:24,320 Speaker 2: is a dreadful situation which most of us thought could 24 00:01:24,319 --> 00:01:25,479 Speaker 2: never happen in Australia. 25 00:01:25,640 --> 00:01:27,760 Speaker 1: Yeah, it really is a tragic story. And we'll have 26 00:01:28,440 --> 00:01:31,280 Speaker 1: more updates on that this afternoon in our afternoon report 27 00:01:31,640 --> 00:01:34,919 Speaker 1: onto story number two now Sean and the auction market 28 00:01:34,959 --> 00:01:37,640 Speaker 1: has slowing down for the holiday season. Just under three 29 00:01:37,680 --> 00:01:41,000 Speaker 1: thousand homes went under the hammer across the five capital 30 00:01:41,040 --> 00:01:43,720 Speaker 1: cities over the past week, with their preliminary clearance rate 31 00:01:43,840 --> 00:01:46,600 Speaker 1: of just under sixty five percent. That's the lowest rate 32 00:01:46,640 --> 00:01:47,680 Speaker 1: since this time last year. 33 00:01:48,240 --> 00:01:51,000 Speaker 2: That's right. The government will introduce new rules that prohibits 34 00:01:51,000 --> 00:01:54,320 Speaker 2: supermarkets from charging prices that are excessive when compared to 35 00:01:54,400 --> 00:01:57,080 Speaker 2: the cost of supply, along with a reasonable margin. I'm 36 00:01:57,160 --> 00:01:59,400 Speaker 2: quite sure how that's going to work, but the ahriblec 37 00:01:59,600 --> 00:02:02,400 Speaker 2: will be involved in that one. The rules will also 38 00:02:02,560 --> 00:02:07,120 Speaker 2: ensure that supermarkets take cash for the foreseeable future. Now, 39 00:02:07,120 --> 00:02:09,480 Speaker 2: remember an AHBC inquiring the walls and colds earlier in 40 00:02:09,520 --> 00:02:11,520 Speaker 2: the year said that they weren't price gouging. There's no 41 00:02:11,560 --> 00:02:16,240 Speaker 2: evidence that supermarkets have been doing it anyway. The treasure 42 00:02:16,360 --> 00:02:18,399 Speaker 2: clearly wants to introduce this one. 43 00:02:18,280 --> 00:02:20,960 Speaker 1: And just very quickly. The Midia Economic and Fiscal Outlook 44 00:02:21,000 --> 00:02:23,600 Speaker 1: Statement will be released on Wednesday. It's the half year 45 00:02:23,680 --> 00:02:25,880 Speaker 1: updates to the budget. Basically, there's been a few weeks 46 00:02:25,919 --> 00:02:29,400 Speaker 1: about what's in a much lower tobacco X size and 47 00:02:29,440 --> 00:02:33,000 Speaker 1: consideration of scrapping the electric vehicle discount which has just 48 00:02:33,040 --> 00:02:36,200 Speaker 1: been way, way, way too too successful and expensive. 49 00:02:36,200 --> 00:02:38,679 Speaker 2: Actually, yeah, it's appas to cost ninety millions cost about 50 00:02:38,680 --> 00:02:41,640 Speaker 2: one point threety five billion dollars. Certainly has helped put 51 00:02:41,720 --> 00:02:44,800 Speaker 2: evs on the road. The government will inject five billion 52 00:02:44,840 --> 00:02:49,480 Speaker 2: dollars into its cheaper homes battery program. Apparently the sales 53 00:02:49,480 --> 00:02:51,840 Speaker 2: of legal tobacco have fallen so much as about a 54 00:02:51,840 --> 00:02:54,919 Speaker 2: billion dollar hole in excise. Ahead of the update, charmers 55 00:02:54,919 --> 00:02:57,639 Speaker 2: that said twenty billion dollars in cuts and reprioritizations will 56 00:02:57,639 --> 00:03:00,000 Speaker 2: be contained. There will also be twenty five billion dollar 57 00:03:00,280 --> 00:03:02,919 Speaker 2: new spending, including natural disasters in the age pension. 58 00:03:03,280 --> 00:03:05,120 Speaker 1: All right. Moving on to story number two, the auction 59 00:03:05,240 --> 00:03:07,960 Speaker 1: market is slowing down for the holiday season. Just under 60 00:03:08,000 --> 00:03:10,639 Speaker 1: three thousand homes when under the hammer across the five 61 00:03:10,720 --> 00:03:14,520 Speaker 1: capital cities over the past week, with a preliminary clearance 62 00:03:14,600 --> 00:03:16,560 Speaker 1: rate of just under sixty five percent, which is the 63 00:03:16,560 --> 00:03:18,240 Speaker 1: lowest rate since this time last year. 64 00:03:18,280 --> 00:03:20,760 Speaker 2: Sean Melbourne held up pretty well at sixty six percent, 65 00:03:20,800 --> 00:03:23,280 Speaker 2: Sydney fifty eight percent. What was interesting, Brisbane came in 66 00:03:23,280 --> 00:03:26,480 Speaker 2: at sixty percent, about normal, but its medium price for 67 00:03:26,560 --> 00:03:29,600 Speaker 2: a house and for a unit was higher than anywhere else, 68 00:03:29,639 --> 00:03:32,560 Speaker 2: including Sydney. In fact, prices in both Sydney and Melbourne 69 00:03:32,600 --> 00:03:35,080 Speaker 2: have really come to a standstill. They rose all year 70 00:03:35,160 --> 00:03:38,080 Speaker 2: until about four weeks ago. All the talks of a 71 00:03:38,120 --> 00:03:40,520 Speaker 2: talk of higher interest rates has really hit those markets. 72 00:03:40,720 --> 00:03:41,960 Speaker 2: Prices are now flat lining. 73 00:03:42,120 --> 00:03:45,840 Speaker 1: Story number three. Former A and Z boss Shane Elliott 74 00:03:45,960 --> 00:03:48,960 Speaker 1: is suing his former employer after it stripped him of 75 00:03:49,160 --> 00:03:52,880 Speaker 1: millions of dollars in bonuses last month, citing failures across 76 00:03:52,920 --> 00:03:55,520 Speaker 1: its retail and institutional banking divisions. 77 00:03:55,840 --> 00:03:57,960 Speaker 2: Elliett claims he and A and ZED had a clear, 78 00:03:58,160 --> 00:04:02,520 Speaker 2: unambiguous agreement and then the chair of the board, Paul 79 00:04:02,560 --> 00:04:05,839 Speaker 2: O'Sullivan decided to cancel his bonus. The former bank boss 80 00:04:05,880 --> 00:04:07,920 Speaker 2: filed the action late last week, according to The Finn, 81 00:04:07,920 --> 00:04:10,160 Speaker 2: He said he'd entered into a contract and expected its 82 00:04:10,240 --> 00:04:13,640 Speaker 2: terms to be honored. In November, ain Z' stripped long 83 00:04:13,680 --> 00:04:16,320 Speaker 2: and short term incentives of several management members by thirty 84 00:04:16,320 --> 00:04:18,479 Speaker 2: two million dollars than in a half million of that 85 00:04:18,680 --> 00:04:20,760 Speaker 2: was due to Elliot. That's after ain Z had had 86 00:04:20,800 --> 00:04:24,200 Speaker 2: to pay a massive fine to ASEK for failings while 87 00:04:24,240 --> 00:04:27,400 Speaker 2: Elliot was chief executive. He was replaced by Nuno Mattos, 88 00:04:27,400 --> 00:04:29,599 Speaker 2: who's made some big changes since he took the job 89 00:04:29,920 --> 00:04:32,600 Speaker 2: in May. Ain Zed chairs O'Sullivan said the bank will 90 00:04:32,600 --> 00:04:33,719 Speaker 2: fight Elliot's lawsuit. 91 00:04:34,240 --> 00:04:37,920 Speaker 1: Story number four. The number of ETF investors in Australia 92 00:04:38,000 --> 00:04:41,120 Speaker 1: has jumped twenty percent and is on track to hit 93 00:04:41,200 --> 00:04:42,440 Speaker 1: three million next year. 94 00:04:42,839 --> 00:04:45,880 Speaker 2: Latis Betty Shares Investment Trends ETF report found four hundred 95 00:04:45,880 --> 00:04:48,760 Speaker 2: and eleven thousand Australian and started investing in ETFs in 96 00:04:48,839 --> 00:04:52,560 Speaker 2: twenty twenty five. That took the total number of investors 97 00:04:52,560 --> 00:04:55,840 Speaker 2: to two point seven million, likely to hit three million 98 00:04:55,920 --> 00:04:58,720 Speaker 2: next year. As you said, Betty Share said, Cost effectiveness 99 00:04:58,760 --> 00:05:02,479 Speaker 2: and diversification remained the drivers of adoption. International equeries remain 100 00:05:02,520 --> 00:05:05,239 Speaker 2: the top asset class, followed by OSSI equities. In fact, 101 00:05:05,560 --> 00:05:09,200 Speaker 2: international equery seventeen point three billion dollars in ETFs in 102 00:05:09,200 --> 00:05:13,240 Speaker 2: international equities this year, about eleven billion in OSSI equities. 103 00:05:13,279 --> 00:05:17,400 Speaker 2: Bettah here expects ETF assets under management in Australia to 104 00:05:17,720 --> 00:05:20,400 Speaker 2: hit about half a trillion dollars by the end of 105 00:05:20,400 --> 00:05:21,200 Speaker 2: twenty twenty eight. 106 00:05:21,520 --> 00:05:24,560 Speaker 1: Last one story number five, This one's just a cracking story. 107 00:05:24,680 --> 00:05:28,640 Speaker 1: Private capital giant Apollo Global Management has brought a minority 108 00:05:28,720 --> 00:05:32,200 Speaker 1: stake in Wrexham AFC, the once sleepy Welsh football club 109 00:05:32,200 --> 00:05:35,200 Speaker 1: whose fortunes and global profile have been well and truly 110 00:05:35,279 --> 00:05:39,200 Speaker 1: transformed under the ownership of Hollywood actors Ryan Reynolds and 111 00:05:39,279 --> 00:05:39,719 Speaker 1: Rob mack. 112 00:05:40,279 --> 00:05:44,000 Speaker 2: Rexham said the investment would include financing to redevelopment the ground, 113 00:05:44,279 --> 00:05:47,920 Speaker 2: cres capacity, long term growth, et cetera, et cetera. Now, 114 00:05:47,960 --> 00:05:52,440 Speaker 2: while the terms of the deal weren't disclosed, Reynolds and 115 00:05:52,640 --> 00:05:56,279 Speaker 2: mac will remain as controlling shareholders. According to the ft, rexm' 116 00:05:56,279 --> 00:05:57,760 Speaker 2: is one of four Welsh teams that play in the 117 00:05:57,760 --> 00:06:01,039 Speaker 2: English League's incredible upturn in five fortunes since it was 118 00:06:01,120 --> 00:06:03,800 Speaker 2: bought in twenty twenty one by the Hollywood actors. They 119 00:06:03,839 --> 00:06:07,479 Speaker 2: acquired Wrexham for two million dollars. It's playing fiftier. They 120 00:06:07,480 --> 00:06:09,719 Speaker 2: did a Disney documentary on it. They've sold about one 121 00:06:09,800 --> 00:06:13,920 Speaker 2: hundred thousand replica shirts last year. They keep winning their league, 122 00:06:14,000 --> 00:06:17,440 Speaker 2: so it's been promoted for three consecutive seasons, basically going 123 00:06:17,440 --> 00:06:20,719 Speaker 2: from non league football to EFL Championship, the tier below 124 00:06:20,760 --> 00:06:24,040 Speaker 2: the Premier League. Now Pe is interested in an amazing story. 125 00:06:24,279 --> 00:06:26,479 Speaker 1: Yeah, it's an absolute ripper. There we go, the top 126 00:06:26,480 --> 00:06:29,040 Speaker 1: five business stories in five minutes. Thank you Sean, Thank 127 00:06:29,080 --> 00:06:32,520 Speaker 1: you Michael. It's Monday, the fifteenth of December twenty twenty five. 128 00:06:32,560 --> 00:06:34,840 Speaker 1: Remember to hit follow on the podcast, and if five 129 00:06:34,839 --> 00:06:37,680 Speaker 1: minutes isn't enough, you can find our longer daily show 130 00:06:37,720 --> 00:06:40,080 Speaker 1: called Fear and Greed where ever you listen to podcasts. 131 00:06:40,200 --> 00:06:42,279 Speaker 1: I'm Michael Thompson and that was the past five business 132 00:06:42,360 --> 00:06:43,320 Speaker 1: news by Fear and Greed. 133 00:06:43,560 --> 00:06:44,279 Speaker 2: Have a great day.