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Speaker 1: It's Monday, the ninth of December twenty twenty four. 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. Oh 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: We have got five big stories to get through this

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Speaker 1: morning in just five minutes, so let's get cracking. Story

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Speaker 1: number one. The Australian dollar has tumbled to under sixty

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Speaker 1: four US since That is an eight month low, as

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Speaker 1: economists say that the Reserve Bank this week could indicate

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Speaker 1: that it is thinking about cutting rates. Not a great

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Speaker 1: time travel overseas, especially if you're heading to the US.

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Speaker 1: The Aussie dollar fell under sixty four US sense. As

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Speaker 1: you mentioned over the weekend, it's under pressure against other

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Speaker 1: currencies as well as buying. It buys about sixty euros

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Speaker 1: fifty pence. A few reasons why the currency is as

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Speaker 1: weak as it is at the moment. Demand for Aussie

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Speaker 1: dollars isn't strong. Many countries and big companies just don't

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Speaker 1: want commodities like iron or like they used to, China

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Speaker 1: being one of those countries. The week economic growth figures

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Speaker 1: for the September quarter released last week has also put

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Speaker 1: pressure on the currency. Bunch of experts reckon it could

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Speaker 1: go further, particularly if Donald Trump and poses tariffs on imports.

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Speaker 1: Commonwealth Bank, for example, thinks the Aussie dollar will head

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Speaker 1: towards sixty US cents next year. Bad if you're going overseas,

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Speaker 1: but actually good for local exporters in the economy more

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Speaker 1: generally because it makes Australian goods cheaper overseas. We mentioned

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Speaker 1: the Reserve Bank Shawn. The board meets today and tomorrow,

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Speaker 1: but no good news expected on rates.

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Speaker 2: No, not yet. The benchmark will stay at four point

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Speaker 2: three five percent, twelve year high, but they might just

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Speaker 2: soften their language. Certainly, bond investors think that will happen.

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Speaker 2: They now expect a rate cut by April next year. Basically,

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Speaker 2: the Reserve Bank's got a glemma. We've got a very

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Speaker 2: slow economy, inflation too high. How do they manage both?

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Speaker 1: Story number two. Sean Prime Minister Anthony Albinizi yesterday said

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Speaker 1: the arson attack at a Melbourne synagogue late last week

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Speaker 1: was an act of terrorism, but it is up to

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Speaker 1: police to make the formal designation if they do designated terrorism,

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Speaker 1: they can access additional federal government resources. Yesterday, the Prime

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Speaker 1: Minister committed thirty two and a half min indulas to

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Speaker 1: Jewish community safety funding. At four am Friday morning, an

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Speaker 1: accelerant was used to set the Adas Israel synagogue ablaze

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Speaker 1: in Melbourne. Now the Victorian Premier, dissenter Alan yesterday wasn't

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Speaker 1: calling it terrorism, preferring to not risk the police investigation.

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Speaker 1: Opposition leader Peter Dutton labeled the attack a national disgrace

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Speaker 1: and an act of terrorism. Israeli Prime Minister Benjamin NETTNYA,

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Speaker 1: who also got involved. He directly blamed the extreme anti

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Speaker 1: Israel position of the Albanezi government for the Melbourne attack,

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Speaker 1: and he said in a post on social media that

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Speaker 1: the Victorian government and police need to lift their game.

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Speaker 1: Sorry Number three. The just completed spring selling season was

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Speaker 1: less successful than a year ago, with overall sales volumes

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Speaker 1: down and arise in the time taken to sellar home.

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Speaker 2: Across the country, there was a big disparity. Sydney volumes

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Speaker 2: were down fifteen percent compared to the five year average,

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Speaker 2: Adelaide was up sixteen percent. Across the country's volumes were

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Speaker 2: down four percent. The overall clearance straight was lower this

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Speaker 2: spring selling season. Now, the final weighted clearance traate this

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Speaker 2: is the actual number, came in about fifty seven percent.

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Speaker 2: Last year was closer to sixty three percent. According to

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Speaker 2: core Logic. Bottom line, the winners were the buyers, not

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Speaker 2: the sellers. Other notables. During the spring selling season, the

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Speaker 2: more affordable end of the market saw highest price growth,

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Speaker 2: while the upper price bracket in cities like Sydney and

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Speaker 2: Melbourne went backwards. Of course, we had an auction week

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Speaker 2: last week, Michael. The preliminary clearance rate, which is always

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Speaker 2: a bit higher than that final rate, down one percentage point.

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Speaker 2: Melbourn's doing okay, Sydney not so much.

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Speaker 1: Story number four. How about this? Sean Macquarie Group Chief

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Speaker 1: executive Shamara Wikramerniaca has once again topped Australia's highest paid

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Speaker 1: CEOs with a reported twenty nine point four million dollar

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Speaker 1: pay packet this year, taking her total pay to almost

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Speaker 1: three hundred million dollars during her six years leading the

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Speaker 1: investment bank.

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Speaker 2: She is one of just four women on the list

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Speaker 2: of fifty highest paid CEOs compiled by the Financial Review.

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Speaker 2: Alongside her, a Woodside Energy CEO Mego Neil. She came

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Speaker 2: in at twentieth about seven million bucks. Zero CEO Si

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Speaker 2: Kinder Singh Cassidy she earned almost seven million. Telstra CEO

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Speaker 2: Vicky Brady was also on the list at five point

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Speaker 2: six million, after Wickrameni Yaka. The next three highest paid

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Speaker 2: CEOs are at ASX listed North American based companies, where

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Speaker 2: their remuneration is set in US or Canadian dollars. They're

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Speaker 2: the bosses of James Hardy Resmeat and Newmont. Number five

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Speaker 2: Goodman Group's Greed Goodman. He made about fifteen million dollars.

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Speaker 2: Interesting one the departing chief executive Jewelry chain Leavisa Victor Herrero.

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Speaker 2: He ranked sixth with nearly fourteen million dollars in reported pay.

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Speaker 2: He also received about forty one million dollars and realized

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Speaker 2: or take home pay after including the market value of

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Speaker 2: his shares and options.

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Speaker 1: Last one story number five, the world's most visited church,

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Speaker 1: the iconic Notre d Cathedral in Paris, has reopened to

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Speaker 1: the public overnight, having been restored to almost exactly its

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Speaker 1: form before a devastating fire back in twenty nineteen.

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Speaker 2: It's been one of history's more remarkable restorations of the

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Speaker 2: Gothic masterpiece, even if the new parts of the cathedral

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Speaker 2: mean it's lost a touch of its old feeling. In

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Speaker 2: twenty nineteen, Notre Dame Spy crashed down in flames. The

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Speaker 2: rebuild is faithful to the pre fire itself, according to

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Speaker 2: media reports, Following a huge united effort by the French.

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Speaker 2: Within hours of the fire, luxury goods billionaire Francois Pinot

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Speaker 2: and his family promised one hundred million euros for the reconstruction.

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Speaker 2: Not to be outdone, LVMH founder and industry rival Bernard

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Speaker 2: Anau offered two hundred million dollars and then the Bettencourt

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Speaker 2: Myers they're the cosmetics giant Laurel family, they matched it

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Speaker 2: five hundred million euros.

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Speaker 1: Just like that.

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Speaker 2: Entitled cash Gifted reached eight hundred and forty six million euros,

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Speaker 2: only cost seven hundred millions to fix. The rest was

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Speaker 2: used to work on the undamaged exterior and help the

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Speaker 2: immediate surroundings.

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Speaker 1: It's got to be the first renovation in history to

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Speaker 1: come in under.

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Speaker 2: Budget, right yeah I think so?

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Speaker 1: Yeah, there we go, all right, the top five business

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

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Speaker 1: It is Monday, the ninth of December twenty twenty four.

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

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Speaker 1: minutes isn't enough, you can find our longer daily show

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

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Speaker 1: Michael Thompson and that was the Fast five Business news

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