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Speaker 1: It's Thursday, the eleventh of December twenty twenty five. Welcome

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

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Speaker 1: where 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 Ale.

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Speaker 2: One morning, Michael John.

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Speaker 1: Five stories, five minutes. Let's go with story number one.

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Speaker 1: Day one of the social media ban is now behind US.

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Speaker 1: Prime Minister Anthony Albanezi was out touting its impact yesterday,

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Speaker 1: calling it a profound reform which will reverberate around the world.

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Speaker 1: He said that it was about families taking back control.

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Speaker 2: Prime Minister thank Communications Minister Annika Wells for her work,

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Speaker 2: as well as her predecessor, Attorney General Michelle roland E,

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Speaker 2: Safety Commissioner Julie Inman Grant, and perhaps surprisingly Peter Dutton.

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Speaker 2: Of course, the legislation benning children from using social media

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Speaker 2: was a bipartisan project introduced while Dunton was the opposition leader. Yesterday,

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Speaker 2: there were plenty of people trying to break the social

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Speaker 2: media sites. Signing up is under sixteen year olds, many

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Speaker 2: of them doing it pretty successfully. No doubt there will

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Speaker 2: be teething problems in the big tech company and mostly

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Speaker 2: using age verification technology known as age gating to filter users.

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Speaker 2: Still need to kind of get that up and running properly.

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Speaker 2: According to the E Safety Commission, about one point five

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Speaker 2: million accounts needed to be removed from online platforms due

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Speaker 2: to age restrictions, including about two hundred thousand TikTok accounts.

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Speaker 1: Now early yesterday, the three most downloaded apps on Apple

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Speaker 1: were social media sites, including Lemonade, which they are alternatives

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Speaker 1: basically to the ten sites that have been hit by

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Speaker 1: the band. Do we expect more apps to be caught

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Speaker 1: up in.

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Speaker 2: This, Prime Minister? The Prime Minister that said as much yesterday,

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Speaker 2: saying the E Safety Commissioner would monitor the situation and

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Speaker 2: the government would take her recommendations into account. Now the

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Speaker 2: top three apps downloaded yesterday Lemonade apparently it's Instagram meets Pinterest, YopE,

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Speaker 2: which is a private friends only photo sharing app, and

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Speaker 2: cover Star, which builds itself as the safest TikTok alternative

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Speaker 2: for nine to sixteen year olds. Client to have input

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Speaker 2: from overseas experts, no Bill Lauriate and economics Paul Krugman,

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Speaker 2: one of the most read columnists in the world, said

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Speaker 2: it's a worthy attempt to take young Australian's aprah winfrees

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Speaker 2: out here doing a speaking tours. She's all over it

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Speaker 2: other countries including Denmark, France, Britain, Germany, in Spain and

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Speaker 2: openly talking about following Australia's leads. So to the Democrats

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Speaker 2: in the US. Quite a big day for the government.

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Speaker 1: It certainly was story number two. Big day indeed for

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Speaker 1: Communications Minister Annika Wells should have been a very kind

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Speaker 1: of proud day with that being the sole focus. But

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Speaker 1: the travel expenses scandal continues to follow her.

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Speaker 2: Yes, while promoting the social media band, she just kept

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Speaker 2: getting asked asked questions about her travel expenses. She said

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Speaker 2: she won't step down while a review of her expenses

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Speaker 2: is undertaken. She has been backed by the Prime Minister.

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Speaker 2: He also said he didn't plan to make any changes

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Speaker 2: to entitlements. The Independent Parliamentary Authority will examine Wells's use

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Speaker 2: of family reunion and titlements to fly her husband sometimes

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Speaker 2: her children to AFL and NRL Grand Finals, two boxing

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Speaker 2: day test matches, an F one Grand Prix, a trip

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Speaker 2: to Threadbow, and her use of com car transport three.

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Speaker 1: A few days ago, there was an enormous amount of

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Speaker 1: hype from Quantus about the return of its tenth and

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Speaker 1: final A three eighty to the skies. It had undergone

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Speaker 1: one hundred thousand hours of maintenance to prepare it to

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Speaker 1: fly again. However, after one of its first flights, Sydney

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Speaker 1: to LA, the plane was grounded following damage to the

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Speaker 1: slat on its left wing.

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Speaker 2: Did you see the picture? Yeah, pretty bad, like a

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Speaker 2: hole in the wing. They Corners said. The aircraft operated

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Speaker 2: normally and landed without incident. A section of the slat

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Speaker 2: on the left wing of the plane was damaged. The

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Speaker 2: slat is used to alter the surface of the wing,

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Speaker 2: essentially reshaping it during takeoff and landing. That basically allows

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Speaker 2: the plane to take off and land at much lower

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Speaker 2: speeds than they'd be able to otherwise. Quantus confirmed that

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Speaker 2: the plane also had an unrelated electrical system malfunction on

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Speaker 2: the thirteen hour flight to California, which prevented some passengers

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Speaker 2: from using the inflight entertainment system. You'd expected a little

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Speaker 2: bit more after one hundred thousand hours of maintenance.

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Speaker 1: Yeah, maybe. Story number four. The Energy Market Operator has

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Speaker 1: pushed out its four for the end of coal power

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Speaker 1: in the Eastern States by more than a decade, and

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Speaker 1: cut its forecast for the amount of new transmission lines

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Speaker 1: by twenty fifty.

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Speaker 2: The Australian Energy Market Operator has not, however, downgraded the

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Speaker 2: cost of the renewable transition, saying it could increase by

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Speaker 2: one hundred and twenty eight billion dollars. Cost estimates for

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Speaker 2: new poles and wires projects have surged by up to

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Speaker 2: one hundred percent since twenty twenty four. The new forecasts

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Speaker 2: come after extensive industry consultation and demonstrate how hard and

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Speaker 2: expensive the transition will be. The federal government's target remains

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Speaker 2: eighty two percent eighty two percent renewable energy by twenty

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Speaker 2: thirty and net zero emissions by twenty fifty. The operator

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Speaker 2: said that in the event of further transmission delays, the

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Speaker 2: cost of delivering projects would surge by about thirty percent.

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Speaker 2: Also said the twenty thirty renewables target at this rate

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Speaker 2: will be missed, potentially only reaching seventy five percent, not

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Speaker 2: eighty two percent.

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Speaker 1: Last one story number five. This is quite remarkable. The

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Speaker 1: number of US adults taking weight loss drugs have doubled

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Speaker 1: over the past year to twelve percent, and that's triggered

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Speaker 1: a complete shakeup across the economy, from apparel and restaurants

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Speaker 1: to gyms and travel.

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Speaker 2: The Gallup survey not only said more people were using

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Speaker 2: GOLP one drugs, but also the obesity rate has fallen

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Speaker 2: from forty percent in twenty twenty two to thirty seven percent.

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Speaker 2: Of course, there'd be other people that have lost weight

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Speaker 2: that just hasn't haven't shifted between those categories. According to

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Speaker 2: The Washington Post, this has led to a bunch of

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Speaker 2: lifestyle changes. GLP one users have reduced their spending by

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Speaker 2: ten percent across groceries, quick service restaurants, and tobacco. Their

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Speaker 2: spending on dining out is down by nine percent. Sales

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Speaker 2: are up for smaller sized clothing for both men and women,

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Speaker 2: formal where sales surge eighty percent. Sporting goods jump twenty

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Speaker 2: four percent in the first six months of this year. Also,

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Speaker 2: wearable electronic sales have jumped with while many gyms are

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Speaker 2: reorienting themselves towards GLP one customers. Also been an improvement

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Speaker 2: in body image that's likely to boost travel entertainment. It

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Speaker 2: is amazing the whole of society effects of these weight

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Speaker 2: loss drugs.

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Speaker 1: Yeah, that's a great story. There we go the top

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Speaker 1: five business to always in five minutes. Thank you Sean,

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Speaker 1: thank you Michael. It's Thursday, the eleventh of December twenty

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Speaker 1: twenty five. Remember to hit follow on the podcast, and

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Speaker 1: if five minutes isn't enough, you can find our longer

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Speaker 1: daily show called Fear and Degreed wherever you listen to podcasts,

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Speaker 1: ay you to sign up for our free daily newsletter.

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

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Speaker 1: and that was a fast five business news by Fear

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Speaker 1: and Greed. Have a great day.