1
00:00:04,120 --> 00:00:06,520
Speaker 1: Welcome to the weekend edition of The Fast five Business

2
00:00:06,519 --> 00:00:09,080
Speaker 1: News by Fear and Greed. I'm Michael Thompson and hello

3
00:00:09,160 --> 00:00:09,840
Speaker 1: Sean Aylmer.

4
00:00:10,160 --> 00:00:10,720
Speaker 2: Michael Sean.

5
00:00:10,760 --> 00:00:12,440
Speaker 1: On weekdays, it's all about the Fast five, the top

6
00:00:12,480 --> 00:00:14,400
Speaker 1: five business stories in five minutes. On the weekend, we

7
00:00:14,400 --> 00:00:17,080
Speaker 1: still keep it the five minutes, but we are going

8
00:00:17,120 --> 00:00:19,079
Speaker 1: to pick out the biggest business story of the week,

9
00:00:19,120 --> 00:00:22,160
Speaker 1: the most remarkable business story, a mystery category that changes

10
00:00:22,160 --> 00:00:24,479
Speaker 1: every week, and then our favorite business story. So let's

11
00:00:24,520 --> 00:00:28,440
Speaker 1: jump straight in the biggest story of the week. Sean,

12
00:00:28,520 --> 00:00:29,080
Speaker 1: take it away.

13
00:00:29,200 --> 00:00:32,200
Speaker 2: Those inflation figures came out this week from the Straying

14
00:00:32,240 --> 00:00:35,680
Speaker 2: Bureau Statistics. The trimmed mean measure, the all important trimmed

15
00:00:35,680 --> 00:00:38,279
Speaker 2: demean measure zero point six percent for the quarter, two

16
00:00:38,320 --> 00:00:43,479
Speaker 2: point seven percent for the year pretty much assures or

17
00:00:43,720 --> 00:00:47,000
Speaker 2: I hesitated then, yeah, well, judging from what the Deputy

18
00:00:47,080 --> 00:00:49,520
Speaker 2: Reserve Bank Deputy Governor Andrew Howses said later in the week,

19
00:00:49,560 --> 00:00:51,199
Speaker 2: it does pretty much assure that there will be a

20
00:00:51,280 --> 00:00:53,880
Speaker 2: rate cut in a fortnight's time when the Reserve Bank

21
00:00:53,920 --> 00:00:55,200
Speaker 2: Board meets Big story.

22
00:00:55,240 --> 00:00:57,800
Speaker 1: Michael, Yeah, certainly, but there's always a bit awariness after

23
00:00:57,880 --> 00:01:00,720
Speaker 1: last time, right, that's right. A big week as well.

24
00:01:00,720 --> 00:01:03,640
Speaker 1: In politics, a couple of reasons. Number one, the government

25
00:01:03,960 --> 00:01:07,440
Speaker 1: decided it would ban YouTube for kids under sixteen. This

26
00:01:07,520 --> 00:01:11,000
Speaker 1: is all about preserving mental health. It's a reversal of

27
00:01:11,000 --> 00:01:14,160
Speaker 1: a previous exemption for YouTube and means that now YouTube's

28
00:01:14,160 --> 00:01:18,280
Speaker 1: going to join Facebook, Instagram, Snapchat, TikTok x, the likes

29
00:01:18,319 --> 00:01:20,920
Speaker 1: in being aged restricted. Also in Canberra we had the

30
00:01:20,920 --> 00:01:23,960
Speaker 1: first legislation of the new government passing. That's the HEX cuts,

31
00:01:24,040 --> 00:01:26,319
Speaker 1: meaning sixteen billion dollars in HEX debt will be wiped.

32
00:01:26,560 --> 00:01:29,440
Speaker 1: And also climate change is back on the agenda the

33
00:01:29,480 --> 00:01:33,080
Speaker 1: policy there nationals MP Barnaby Joyce calling for the repeal

34
00:01:33,080 --> 00:01:36,679
Speaker 1: of the net zero goal. Suddenly we are talking about

35
00:01:36,720 --> 00:01:38,440
Speaker 1: climate change policy once again.

36
00:01:38,480 --> 00:01:41,640
Speaker 2: Sean, once again your most remarkable story, Michael.

37
00:01:41,400 --> 00:01:43,760
Speaker 1: Oh, look, my most remarkable Just a quick one is

38
00:01:43,800 --> 00:01:45,920
Speaker 1: Telstra kind of flying under the radar a little bit

39
00:01:45,959 --> 00:01:47,880
Speaker 1: to be one of the best performing large caps of

40
00:01:47,920 --> 00:01:49,600
Speaker 1: the last year. Has been so much focused on the

41
00:01:49,640 --> 00:01:51,640
Speaker 1: banks and the miners, as you would expect, but good

42
00:01:51,640 --> 00:01:54,880
Speaker 1: old Telstra up what twenty three percent this year and

43
00:01:54,960 --> 00:01:58,840
Speaker 1: twenty seven percent over the past twelve months at share

44
00:01:58,840 --> 00:02:02,440
Speaker 1: price that is it is absolutely going Gangbusters and great

45
00:02:02,480 --> 00:02:04,520
Speaker 1: news for its one point one million shareholders.

46
00:02:04,640 --> 00:02:08,280
Speaker 2: Very true. My most remarkable story this week was Wall

47
00:02:08,360 --> 00:02:10,560
Speaker 2: Street has got its earning season on for the Dune quarter.

48
00:02:10,960 --> 00:02:14,080
Speaker 2: This week we got some results, particularly from Microsoft and Meta.

49
00:02:14,320 --> 00:02:18,080
Speaker 2: To a lesser extent Apple, That just shows AI is

50
00:02:18,160 --> 00:02:22,280
Speaker 2: now starting to make companies big, big money. Previously Nvidia,

51
00:02:22,360 --> 00:02:25,880
Speaker 2: the chip maker, it was making money from AI. Microsoft

52
00:02:25,919 --> 00:02:29,120
Speaker 2: is narrowly booming. A couple of reasons there. Right, you

53
00:02:29,200 --> 00:02:33,200
Speaker 2: need more computing power with AI, so people need Microsoft's

54
00:02:33,240 --> 00:02:37,679
Speaker 2: Azure cloud computing business. Microsoft uses lots of AI powered software.

55
00:02:38,240 --> 00:02:41,200
Speaker 2: That means it's a virtuous circle. More AI powered software,

56
00:02:41,280 --> 00:02:45,359
Speaker 2: more need for Azure cloud computing. Meta came out it

57
00:02:45,440 --> 00:02:48,360
Speaker 2: has restructured its AI division recently. It is making money

58
00:02:48,440 --> 00:02:52,080
Speaker 2: out of AI as well. Quite incredible. Apple's a result well,

59
00:02:52,400 --> 00:02:55,000
Speaker 2: less about AI, more about selling more iPhones and products

60
00:02:55,000 --> 00:02:57,760
Speaker 2: in China. Actually, Amazon was probably the exception to the

61
00:02:57,840 --> 00:03:01,400
Speaker 2: rule there. It disappointed a bit. Amazon Web service is

62
00:03:01,440 --> 00:03:03,440
Speaker 2: not doing quite as well as people at hope. But

63
00:03:03,520 --> 00:03:06,600
Speaker 2: really the wrap of this, it is remarkable how quickly

64
00:03:06,680 --> 00:03:09,400
Speaker 2: and how much money big tech companies are making from AI.

65
00:03:09,960 --> 00:03:14,320
Speaker 1: That is remarkable. Okay, our mystery category this week is

66
00:03:14,919 --> 00:03:18,040
Speaker 1: basically stories where things falter. Can I nominate one for

67
00:03:18,120 --> 00:03:21,120
Speaker 1: this please? It's Australia's space industry and it's kind of

68
00:03:21,160 --> 00:03:23,040
Speaker 1: depending on who you ask, the industry itself is either

69
00:03:23,040 --> 00:03:25,120
Speaker 1: faltering or it's finally getting off the ground. Because this

70
00:03:25,160 --> 00:03:28,120
Speaker 1: week we had Gilmour Space Technologies launching the first ever

71
00:03:28,240 --> 00:03:31,640
Speaker 1: Australian made rocket. It didn't go very far, it was

72
00:03:31,680 --> 00:03:34,160
Speaker 1: only airborne for thirteen seconds. It went up and then

73
00:03:34,200 --> 00:03:36,720
Speaker 1: moved sideways and then came back down, but it is

74
00:03:36,720 --> 00:03:39,040
Speaker 1: a big, big step forward for Australia and the fact

75
00:03:39,040 --> 00:03:40,360
Speaker 1: that it did kind of prove that a lot of

76
00:03:40,400 --> 00:03:43,320
Speaker 1: the technology involved in this works. I'd say, yes, the

77
00:03:43,400 --> 00:03:45,520
Speaker 1: rocket faultered, but the industry is just getting going.

78
00:03:45,960 --> 00:03:49,080
Speaker 2: My faltering story is the Australia eu'd trade deal. We

79
00:03:49,120 --> 00:03:51,240
Speaker 2: found out this week that the EU has done a

80
00:03:51,280 --> 00:03:54,480
Speaker 2: trade deal with US fifteen percent tarat for the Union.

81
00:03:54,800 --> 00:03:57,119
Speaker 2: It's also trying to finalize a deal with a block

82
00:03:57,160 --> 00:04:00,240
Speaker 2: of South American nations comprising Argentina and Brazil. Paraguay and

83
00:04:00,440 --> 00:04:03,080
Speaker 2: Uruguay are not to our producer Luke there whose partner

84
00:04:03,120 --> 00:04:07,240
Speaker 2: is Argentinian. Anyway, the point is ee more interesting to

85
00:04:07,520 --> 00:04:11,600
Speaker 2: doing trade deals with non Australian companies means our trade

86
00:04:11,640 --> 00:04:14,520
Speaker 2: deal with EU is faltering somewhere. We might get there,

87
00:04:14,960 --> 00:04:16,000
Speaker 2: might just take a while though.

88
00:04:16,240 --> 00:04:20,160
Speaker 1: Yeah, okay, Favorite story of the week? What did you like?

89
00:04:20,360 --> 00:04:23,120
Speaker 2: I love the fact that a zan Z's new chief executive,

90
00:04:23,200 --> 00:04:26,080
Speaker 2: Nuno Matos, came out. He told staff he wants a

91
00:04:26,080 --> 00:04:30,360
Speaker 2: few changes. The first one restrict presentations to five pages.

92
00:04:30,680 --> 00:04:33,200
Speaker 2: He wants something on the intro and the problem, something

93
00:04:33,200 --> 00:04:36,320
Speaker 2: on the opportunity, something on the solution, supporting evidence and

94
00:04:36,440 --> 00:04:40,000
Speaker 2: next steps. Presentation is five pages. Love the idea. The

95
00:04:40,120 --> 00:04:42,679
Speaker 2: other one, the other change, he wants every meeting should

96
00:04:42,680 --> 00:04:45,239
Speaker 2: now have a purpose and agenda shared ahead of time,

97
00:04:45,600 --> 00:04:48,000
Speaker 2: clear desired outcomes stated at the start of the meeting,

98
00:04:48,279 --> 00:04:51,000
Speaker 2: and action items and deadlines set at the end of

99
00:04:51,040 --> 00:04:53,480
Speaker 2: the meeting. All sounds pretty sensible. Love the bloke.

100
00:04:54,400 --> 00:04:56,760
Speaker 1: I tell you what my favorite story is. I don't

101
00:04:56,760 --> 00:04:59,240
Speaker 1: know if it is my favorite because it is about

102
00:04:59,240 --> 00:05:03,280
Speaker 1: pets on plane, which I just think has the potential

103
00:05:03,320 --> 00:05:05,840
Speaker 1: to go terribly wrong. Right, virgin Australia is going to

104
00:05:05,880 --> 00:05:08,160
Speaker 1: allow small pets on board by the end of the year.

105
00:05:08,360 --> 00:05:10,920
Speaker 1: They had to get an exemption from Food Safety laws

106
00:05:11,200 --> 00:05:14,240
Speaker 1: to do it. Under the rules, small pets weighing no

107
00:05:14,279 --> 00:05:16,440
Speaker 1: more than eight kilos can be taken on board in

108
00:05:16,440 --> 00:05:19,600
Speaker 1: two designated rows. They have to fit into kind of

109
00:05:19,600 --> 00:05:23,119
Speaker 1: a designated carrier and pushed under the seat in front.

110
00:05:23,160 --> 00:05:25,280
Speaker 1: But honestly, all that's going to take is for one

111
00:05:25,320 --> 00:05:27,440
Speaker 1: dog or one cat to get loose and you have

112
00:05:27,520 --> 00:05:32,560
Speaker 1: got absolute pandemonium in the skies, Sean, without being too melodramatic.

113
00:05:32,000 --> 00:05:35,040
Speaker 2: About it, it's not a fairly melodramatic to me, Michael.

114
00:05:35,080 --> 00:05:37,000
Speaker 1: Indeed, there we go five minutes and pretty much everything

115
00:05:37,040 --> 00:05:38,240
Speaker 1: you need to know in the world of business. Thank

116
00:05:38,240 --> 00:05:38,839
Speaker 1: you very much, Sean.

117
00:05:38,880 --> 00:05:39,400
Speaker 2: Thanks Michael.

118
00:05:39,440 --> 00:05:41,120
Speaker 1: We'll be back on Monday morning with the top five

119
00:05:41,160 --> 00:05:43,680
Speaker 1: business stories in five minutes. Don't forget to follow and

120
00:05:43,720 --> 00:05:46,760
Speaker 1: join us online on Instagram, TikTok, LinkedIn, Facebook and x oh.

121
00:05:46,800 --> 00:05:48,960
Speaker 1: Michael Thompson and this is the past five business news

122
00:05:49,200 --> 00:05:49,760
Speaker 1: here and great