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Speaker 1: It's Wednesday, the twelfth 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 big stories to get through, and we've only got

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Speaker 1: five minutes to do it in, so we better get going.

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Speaker 1: Story number one. Commercial property giants CBRE and JLL are

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Speaker 1: under fire following allegations of harassment and other inappropriate behavior

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Speaker 1: by senior employees.

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Speaker 2: CBR says it's investigating allegations that a senior employee sexually

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Speaker 2: harassed a colleague this year and that manages at the

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Speaker 2: group we're in inappropriate workplace relationships, and employee allegedly placed

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Speaker 2: his hands down the pants of an employee who without

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Speaker 2: consent at CBI At a CBRE event, the incident was reported,

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Speaker 2: multiple witnesses came forward, according to a story in The

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Speaker 2: fin Review Now, cbr's response allegedly was that there was

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Speaker 2: an enough evidence to do anything. CBRE spokeswoman declined to

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Speaker 2: comment on these specifics of the investigation, but said it

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Speaker 2: is aware of the allegations they're being handled in accordance

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Speaker 2: with its usual processes. It's not the first complaint against CBRE.

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Speaker 2: Both News Corp And Nine Entertainment have reported on a

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Speaker 2: separate CBRE complain about a flash strive left in the

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Speaker 2: office containing thousands of photos, including staff sculling beer, close

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Speaker 2: up images of crotches and employees in Dominatrix outfits. At JLL,

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Speaker 2: several agents in our suing the firm, alleging complaints were

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Speaker 2: mishandled and ultimately ended in their termination over there, Sean.

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Speaker 1: The thing here is that the list of allegedly poor

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Speaker 1: workplace behavior continues to grow, and it seems to be

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Speaker 1: affecting so many different parts of the market. We've talked

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Speaker 1: about it a lot. When are people and let's face it,

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Speaker 1: this is mostly men. Realize that this isn't okay.

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Speaker 2: I don't know, Michael. In recent years, we've had allegations

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Speaker 2: and examples of dreadful behavior in media companies, financial service firms,

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Speaker 2: federal and state parliaments, tech, early childhood education, hospitality, retail.

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Speaker 2: We can now add property. In some cases, companies or

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Speaker 2: individuals argue that people are under intense pressure working a

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Speaker 2: long way from home, putting in long hours. Let's face it, Michael,

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Speaker 2: it is never okay.

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Speaker 1: Indeed all right. Story number two. The value of the

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Speaker 1: Australian dwelling market has pushed beyond twelve trillion dollars, with

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Speaker 1: house prices outpacing units and regional areas taking a greater

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Speaker 1: share of the overall pie.

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Speaker 2: The housing market is three times the size of the

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Speaker 2: superannuation system, now four times as much as the total

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Speaker 2: amount of bank deposits across the country. The value has

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Speaker 2: doubled over the past decade, most of that in the

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Speaker 2: past five years, changing dynamics to regional markets in places

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Speaker 2: like South Australia, Western Australia and Queensland are gaining a

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Speaker 2: larger share of housing value. House price premium over units

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Speaker 2: is now about fifty percent. People want a detached home

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Speaker 2: with land. The house price premium ranges from Sydney seven

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Speaker 2: eight percent to Hobarts thirty two percent, and as we know,

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Speaker 2: affordability constraints are driving growth, with lower to mididal value

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Speaker 2: segments outperforming despite recent rate cuts.

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Speaker 1: Story number three. Commonwealth Bank made two point six billion

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Speaker 1: dollars in the first three months of this financial year,

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Speaker 1: as it grew its home lending and household deposits, but

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Speaker 1: it wasn't enough to satisfy investors who sold off CBA

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Speaker 1: stock yesterday, the bank's share price dropping by six point

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Speaker 1: six percent.

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Speaker 2: That's about three hundred million dollars worth of value. Most

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Speaker 2: analysts have had to sell on Commonwealth Bank for many months.

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Speaker 2: Its scenes that they used yesterday as an excuse to sell.

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Speaker 2: Funny thing is Commonwealth Bank did better in home loans

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Speaker 2: than the average of the market. It did better in

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Speaker 2: deposits than the average of the market. It did as

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Speaker 2: well as the market when it came to the business

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Speaker 2: lending sector. Its profit margin improved, bad loans decreased. More

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Speaker 2: of this tale, Michael. When your market leader, even a

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Speaker 2: good result might not be enough for investors.

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Speaker 1: You're a number four. Consumer confidence SEAN has turned positive

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Speaker 1: for the first time in nearly four years, while business

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Speaker 1: conditions are now at their highest level since early last year.

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Speaker 1: This is all good news, right well.

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Speaker 2: The surprise readings yesterday, particularly the Westpac Melbourne Institute Consumer

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Speaker 2: Centiment Index, certainly suggests economic growth is picking up, though

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Speaker 2: west Bake itself said to be careful about the reading

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Speaker 2: because it's extraordinary and somewhat surprising. Basically, the index jumped

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Speaker 2: thirteen percent to one hundred and three point eight. Anything

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Speaker 2: above one hundred means optimus outnumber pessumus hasn't happened since

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Speaker 2: February twenty twenty two if you skip COVID best reading

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Speaker 2: in seven years, certainly an indicator that the household sector

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Speaker 2: is in good health. However, thirteen percent, that's a very

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Speaker 2: big jump in one reading. Just quickly. National Australian Bank

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Speaker 2: survey show that business conditions have improved to their highest

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Speaker 2: level since March twenty twenty four, but confidence has slipped

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Speaker 2: somewhat and inflationary pressures remain.

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Speaker 1: Story number five last one, BHP Sean must pay almost

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Speaker 1: one hundred thousand dollars for failing to ask its mining

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Speaker 1: workforce whether they wanted to work on Christmas Day and

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Speaker 1: Boxing Day Following a landmark judgment, so.

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Speaker 2: The Federal Court has fined the mining giant the money

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Speaker 2: to eighty five eighty five workers in Queensland were affected

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Speaker 2: for breaching national employment standards. According to the Finn Review,

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Speaker 2: the penalties and compensation are the first to follow a

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Speaker 2: precedent ruling by a full Federal Court in twenty twenty

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Speaker 2: three that held that all employers must ask their employees

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Speaker 2: if they want to work on public holidays. They can't

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Speaker 2: just automatically roster them on. This isn't about the money.

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Speaker 2: It's about the fact that BHP didn't ask. The ruling

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Speaker 2: applies the landmark ruling in the Federal court. Ruling applies

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Speaker 2: regardless of agreements and contracts all sectors of the economy,

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Speaker 2: from fast food to retail, logistics, health and mining. An

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Speaker 2: employer can still require workers to work on public holidays

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Speaker 2: if the employee's refusal to its request is unreasonable based

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Speaker 2: on the nature of the work, but the employer must

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Speaker 2: still ask first.

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

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Speaker 1: in five minutes. Thank you Sean, Thank you Michael. It's Wednesday,

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Speaker 1: the twelfth of November twenty twenty five. Remember to hit

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Speaker 1: follow on the podcast, and if five minutes just isn't

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Speaker 1: enough for you, you can find our longer daily show

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Speaker 1: might not head along to Fearandgreed dot com dot au

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Speaker 1: daily newsletter. It is free. It gets into your inbox

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Speaker 1: three minute cheat sheet to everything you need to know.

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Speaker 1: I'm Michael Thompson and that was the Fast five Business

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Speaker 1: News by fear and Greed. Have a great day.