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Speaker 1: Welcome to the weekend edition of The Fast Five Business

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Speaker 1: News by Fear and Greed. I'm Michael Thompson and Hello

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Speaker 1: Sean Hale.

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Speaker 2: Hello Michael, Sean.

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Speaker 1: On weekdays, it's all about the Fast five, the top

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Speaker 1: five business stories in five minutes. On the weekend, we

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Speaker 1: still keep it to five minutes, but we are going

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Speaker 1: to pick out the biggest business news story of the week,

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Speaker 1: the most remarkable story, a mystery category that changes every week,

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Speaker 1: and then our favorite story. We'll get into the biggest

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Speaker 1: business story. There's been a lot happen this week, Sean,

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Speaker 1: and some very kind of somber stories, particularly with the

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Speaker 1: Air India crash and the situation unfolding in Iran involving

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Speaker 1: Israel as well. Outside of those, what did you pick

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Speaker 1: out as the biggest story of the week.

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Speaker 2: I think it was financial markets. This week the SMPA

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Speaker 2: SEX two hundred hit a new record high of eight thousand,

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Speaker 2: six hundred and thirty nine point one points, led, of course,

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Speaker 2: my Comwealth Bank now north of three hundred billion dollars

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Speaker 2: in market cap. The boss is up seventeen percent since

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Speaker 2: early April. If you really wanted to make money in

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Speaker 2: the last two months, you needed to be in gold

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Speaker 2: and tech stocks, perhaps not energy stocks. This is all

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Speaker 2: happening while the domestic economy is looking better, but that

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Speaker 2: international outlook is very, very uncertain. We also saw Brent jump.

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Speaker 2: In fact, on one session there oil was up five percent,

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Speaker 2: back above seventy US dollars a barrel. What's going on

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Speaker 2: in the Middle East is clearly impacting that. It probably

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Speaker 2: means that petrol prices aren't going to fall too much

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Speaker 2: going forward. What was your biggest story, Michael, Look.

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Speaker 1: It's a bit of a rap of everything that Donald

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Speaker 1: Trump has done this.

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Speaker 2: Week five minutes is done a lot.

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Speaker 1: Okay. So there was the announcement that they are reviewing

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Speaker 1: the three hundred and eighty six billion dollar Orcust deal

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Speaker 1: for submarines that obviously involves Australia, the UK, and the US.

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Speaker 1: This is a big long term security deal. The deal

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Speaker 1: has done, so it feels like this could be perhaps

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Speaker 1: a negotiating tactic. Speaking of deals, we had the President

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Speaker 1: talking about the fact that a deal has been done

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Speaker 1: with China, not official or anything, saying it still needs

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Speaker 1: to be signed off, but a deal has been done

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Speaker 1: over tariffs and a whole bunch of other bits and pieces.

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Speaker 1: He's been putting pressure on the Fed to cut interest rates,

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Speaker 1: saying that they should lower it by one percent after

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Speaker 1: some somewhat benign inflation figures. And finally, probably the most

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Speaker 1: extraordinary part of the Trump report the growing unrest and

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Speaker 1: riots in the US over the immigration raids. They started

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Speaker 1: in la where the presidents sent in the National Guard

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Speaker 1: sent in the Marines despite the governor not wanting them.

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Speaker 1: They've spread elsewhere throughout the country significantly. Donald Trump has

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Speaker 1: announced that changes are coming to that immigration policy because

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Speaker 1: he is now aware of how much that policy has

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Speaker 1: hurt farmers, has hurt hotels. These are industries that really

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Speaker 1: do rely on these lower paid workers, So expect more

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Speaker 1: developments on that one. Sean most remarkable story.

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Speaker 2: Long time coming. But this week we had a couple

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Speaker 2: of big changes in broadcast TV channel TENS dumping its

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Speaker 2: current affairs flagship program, The Project after sixteen years on air.

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Speaker 2: We've got ABC dumping Q and A. It's done more

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Speaker 2: than five hundred chase. There's also report this week the

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Speaker 2: commercial networks across the board are set to ask their

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Speaker 2: stars to take pay cuts. It's sad, we all know

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Speaker 2: people affected by this, but it is inevitable. The music

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Speaker 2: industry went through it and survived in a different form.

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Speaker 2: Newspapers that are going through it at the moment struggling

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Speaker 2: to survive as digital properties that they're getting there. It's

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Speaker 2: just remarkable. The two arguably two of the best shares

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Speaker 2: on television of their genre over the past decade have

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Speaker 2: been acts this week now, Sean.

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Speaker 1: I don't know whether my story is actually remarkable or not,

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Speaker 1: but the Albanezi government announced this week that they're going

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Speaker 1: to have another summit. This is a jobs and skills summit.

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Speaker 1: It's planned for August. The thing is, and this is

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Speaker 1: what I suppose is remarkable about it. They had one

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Speaker 1: in twenty twenty two. They produced a two hundred and

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Speaker 1: sixty four page white paper out of it which focuses

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Speaker 1: intense quite intensely on productivity, which is going to be

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Speaker 1: the focus of this year's summit as well. It does feel,

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Speaker 1: and this is why this is remarkable that all the

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Speaker 1: work has already been done on what can be done

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Speaker 1: to reform and improve productivity, and government just needs to

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Speaker 1: get on and do it, Sean. Moving on to our

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Speaker 1: mystery category, which is dramatic share price falls. There are

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Speaker 1: a couple of companies this week. What did you notice?

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Speaker 2: Online retailer set I share price tumble thirty one percent

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Speaker 2: on Thursday, and then on Friday it fell another twenty percent.

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Speaker 2: It came back a little bit, but basically in March

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Speaker 2: last year said I was worth four dollars eighty three.

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Speaker 2: It's now worth less than thirty cents a share. It's

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Speaker 2: an online luxury fashion emporium. It sells brands including Gucci, Dolchingabana, Gerbrie, Maximara,

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Speaker 2: et cetera, at significant discounts, sources them mostly from Europe,

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Speaker 2: brings them here, sells them to buyers. Obviously, the point

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Speaker 2: there is that the luxury fashion market is not doing

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Speaker 2: so well and that business model is not looking so good.

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Speaker 2: So to have that fall from four to eighty three

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Speaker 2: March last year to less than thirty cents ouch.

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Speaker 1: Yeah. Indeed, the other one was monash IVF fell nearly

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Speaker 1: thirty percent in one day this week after another embryo

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Speaker 1: mix up. Basically, the wrong embryo was implanted in a patient.

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Speaker 1: Investor sold off the company when the news came out,

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Speaker 1: down twenty eight percent. But it was the second incident

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Speaker 1: in the last couple of months. The company was down

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Speaker 1: thirty six percent in April after a similar era, and

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Speaker 1: the CEO, Michael Napp, resigned this week. The share price

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Speaker 1: did recover somewhat this week, but it is likely that

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Speaker 1: there will be at least a very big push for

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Speaker 1: stronger national regulation of the fertility industry off the back

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Speaker 1: of this one.

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Speaker 2: What's your favorite story?

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Speaker 1: My favorites? Thank you for asking, Sean. No one ever

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Speaker 1: asks me this is good. My favorite story is all

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Speaker 1: about e cigarettes right now.

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Speaker 2: I like this story.

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Speaker 1: Yeah, this one came out of the US and out

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Speaker 1: of Europe, both places where e cigarette sales are faltering.

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Speaker 1: British American Tobacco says that it expects sales of its

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Speaker 1: vaping devices to fall by mid teens percentage globally in

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Speaker 1: the first half of the year. In the US, like these,

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Speaker 1: sales have been going down pretty much every month over

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Speaker 1: the last couple of years, after booming for the last decade.

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Speaker 1: What does it mean for Big Tobacco? It is big news, Sean.

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Speaker 2: It is very big news. So I asked the question

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Speaker 2: without knowing about We're not sure, but I mean a

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Speaker 2: lot of uncertad. Can I tell you my least favorite story?

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Speaker 2: You're turning on on its head. It's the fact that

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Speaker 2: democracy has come to the point where a Democratic senator

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Speaker 2: in the US who in California complaining about Trump's immigration policies,

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Speaker 2: was detained and handcuffed and dragged out of a conference

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Speaker 2: held by the Homeland Security Secretary. Now he wasn't arrested,

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Speaker 2: but just the footage of seeing a Democrat in the

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Speaker 2: Republican press conference, it could be the other way around.

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Speaker 2: So I'm not trying to be partist in here, but

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Speaker 2: you're actually having members or politicians handcuffed and both sides

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Speaker 2: of politics one saying is to stunt the other thing. Well,

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Speaker 2: I can't actually get any information from the Republicans, so

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Speaker 2: I needed.

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Speaker 1: To do it.

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Speaker 2: It's just sad that politics has come to this.

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Speaker 1: Yeah. Indeed, all right, there we go five minutes and

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Speaker 1: pretty much everything you need to know in the world

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Speaker 1: of business.

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Speaker 2: Thank you very much, Sean, thank you, Michael.

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Speaker 1: We'll be back on Monday morning with the top five

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Speaker 1: business stories in five minutes. Don't forget to hit follow

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Speaker 1: and join us online as well. Are Michael Thompson and

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Speaker 1: Italy passed by Business News by Fear and Great