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Speaker 1: It's Thursday, the sixth of November 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 Aylmer.

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Speaker 2: Good morning, Michael, Sean.

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

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Speaker 1: The local share market fell to a six week low

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Speaker 1: yesterday as Wall Streets tech titans tumbled and other asset

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Speaker 1: classes including bitcoin and gold dropped as investors get a

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Speaker 1: little bit nervous about high valuations.

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Speaker 2: Was what you call bloodbath, but there was really selling

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Speaker 2: everywhere on the back of a fairly disparate bunch of events.

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Speaker 2: Looking locally first, mining stocks pushed the local share market

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Speaker 2: to a six week low yesterday. There were media reports

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Speaker 2: out of the development of an iron or reserving guinea

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Speaker 2: that would certainly hurt the local miners. Local tech stocks

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Speaker 2: were also sold off following a selldown of Wall Street

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Speaker 2: megacaps that meet it renewed concerns about valuations. So in

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Speaker 2: index of the magnificent tech stocks and video Microsoft, Apple, Meta, Amazon, Alphabet,

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Speaker 2: and Tesla fell about two percent. The prospect of no

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Speaker 2: more rate cuts in Australia following the Reserve Bank boards

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Speaker 2: meeting on Monday and Tuesday also weighed on equities now

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Speaker 2: during the day yesterday, the market fell by as much

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Speaker 2: as half a percent. Paired BACKBOSE losses closed down slightly

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Speaker 2: to weight thousand, eight hundred and two points. Many investment

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Speaker 2: analysts have warned of a bumpy end of the year.

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Speaker 2: What's emerging is just a higher aversion to risk. There

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Speaker 2: are concerns over tech company valuations and receiving expectations of

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Speaker 2: rate cuts both here and in the US.

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Speaker 1: What about bitcoin sean that fell below one hundred thousand

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Speaker 1: US dollars a unit for the first time since June.

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Speaker 1: Gold fell, oil fell as well.

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Speaker 2: Yeah, Bitcoin dropped to under ninety seven thousand US dollars

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Speaker 2: a market came back a bit, but it was down

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Speaker 2: about twenty percent from its peak of last month. Ethereum,

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Speaker 2: the number two crypto, off about thirty six percent since

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Speaker 2: its peak. Markets are fickle to say the least, but

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Speaker 2: in recent days just a sense a little bit of

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Speaker 2: overvalue in going on. Even gold, the ultimate safe haven's

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Speaker 2: been caught up. It's down thirty nine hundred US dollars,

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Speaker 2: an ounce bents down, a real sense of uneasy financial

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Speaker 2: markets at the moment.

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Speaker 1: All right, let's move on to story number two and

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Speaker 1: the boss of the Corporate Regulator, Joe Longo, yesterday said

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Speaker 1: that Australia's financial markets need to innovate or stagnate, and

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Speaker 1: private credit in this country faces its own Minsky moment,

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Speaker 1: suggesting that a market collapses a real possibility.

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Speaker 2: Yes, a Menski moment is a sudden collapse of the

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Speaker 2: market following a period of speculative investing involving big amounts

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Speaker 2: of don't think GFC. Longo said the private credit sector

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Speaker 2: is still small. There's time to act, but he put

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Speaker 2: it on notice to improve industry practices otherwise face legislation.

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Speaker 2: Longo is speaking at the National Press Club after the

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Speaker 2: release of four research reports into public and private markets.

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Speaker 2: He said Australia needs to consider when a company is

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Speaker 2: public or private and the rules for each. He pondered,

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Speaker 2: why buy tech company with less than ten million dollars

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Speaker 2: in turn over that's listed should have the same compliance

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Speaker 2: as BHP and more than City Airport which is now

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Speaker 2: a private company. Good questions?

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Speaker 1: Yeah, okay. Story number three. Goodman Group has reported a

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Speaker 1: solid September quarter, and the data center and commercial property

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Speaker 1: groups development activity is set to accelerate in the second.

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Speaker 2: Half, but Boss Greg Goodman warned that it's getting harder

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Speaker 2: to build data centers, notwithstanding all the tens of billions

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Speaker 2: of dollars being thrown around. When asked about the big

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Speaker 2: tech companies putting money into AI infrastructure, Goodman said, there's

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Speaker 2: not enough money in the world to finance the aspirations,

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Speaker 2: and that's the reality that needs to be a bit

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Speaker 2: more common sense in building good, long term products. The

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Speaker 2: group reported twelve point four billion dollars of work in progress,

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Speaker 2: more than two thirds of that is in data centers,

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Speaker 2: and that's growing. Goodman's share price was down yesterday. A

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Speaker 2: few years back, Goodman was absolute star performer hot stock

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Speaker 2: steams come out. Goodman is off twelve percent so far

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Speaker 2: this year, one of the worst performing large gaps of

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Speaker 2: the top fifty stocks over the last twelve months. Only

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Speaker 2: Weistech Global James Hardy in CSL have done worse.

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Speaker 1: All right, story number four. What's been described sean as

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Speaker 1: a judgment on the performance of Republican President Donald Trump.

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Speaker 1: Polls in New York City, New Jersey and Virginia have

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Speaker 1: all been won by Democrats, while the vote in California

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Speaker 1: sided with the democrats proposal.

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Speaker 2: The highest profile was the mayoral mayoral election in New

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Speaker 2: York City, where thirty four year old Zorin ma'm Dani,

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Speaker 2: a Muslim whom Donald Trump has been highly critical of,

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Speaker 2: was voted the youngest mayor of the city in more

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Speaker 2: than one hundred years. More than two million voters cast

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Speaker 2: a ballot, the highest turnout in the city since nineteen

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Speaker 2: sixty nine. In California, voters agreed to a redistricting effort

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Speaker 2: intended to partially neutralize a push by Trump to draw

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Speaker 2: up more safe Republican seats before next year's midterm elections,

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Speaker 2: and in New Jersey. In Virginia, Democrat governors were elected.

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Speaker 2: In the case of Virginia, the previous governor was a Republican,

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Speaker 2: so Democrats made significant inroads across that state. There was

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Speaker 2: also a vote in Pennsylvania, where Democrats kept control of

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Speaker 2: the state Supreme Court. Undoubtedly a bad date for Republicans,

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Speaker 2: Donald Trump tweeted, of course, he said, I quote Trump

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Speaker 2: wasn't on the ballot and shut down were the two

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Speaker 2: reasons that Republicans lost elections tonight. All right, story number five,

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Speaker 2: last one. I think this one's incredible. Sean scientists have

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Speaker 2: uncovered structural heart problems by using an artificial intelligence tool

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Speaker 2: to vet smart watch data and the latest event advance

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Speaker 2: rather in the fast evolving field of cardiology diagnostics. The

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Speaker 2: new technique found conditions included weakened pumping ability, damaged vewel

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Speaker 2: from thick and muscle, promising to expand the potential of

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Speaker 2: wearable devices beyond detecting rhythm disorders. The work uses simple

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Speaker 2: readouts of heart electrical activity that can be recorded by

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Speaker 2: smart watchers without the need for extra equipment. According to

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Speaker 2: the ft, the preliminary study was unveiled at the American

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Speaker 2: Heart Association's annual Scientific Sessions and according to its authors,

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Speaker 2: has the potential to transform structural heart disease screening in communities.

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Speaker 2: It could make early screening for structural heart disease possible

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Speaker 2: on a large scale using device as many people already

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Speaker 2: own smart watch heart datas or used to spot warning

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Speaker 2: signs for atrial fibrillation and irregular rhythm, but could do

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Speaker 2: much more.

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

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Speaker 1: stories in five minutes. Thank you, Sean.

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Speaker 2: Thank you, Michael.

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Speaker 1: It's Thursday, the sixth of November twenty twenty five. Remember

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Speaker 1: to hit follow on the podcast and in five minutes

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Speaker 1: isn't enough. You're can find our longer daily show called

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Speaker 1: Fear and Greed wherever you listen to podcasts. I'm Michael

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Speaker 1: Thompson and that was the past five business news by

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Speaker 1: Fear and Greed. Have a great day.