1 00:00:03,920 --> 00:00:07,080 Speaker 1: It's Friday, the thirtieth of January twenty twenty six. Welcome 2 00:00:07,080 --> 00:00:09,520 Speaker 1: to the Fast five Business News by Fear and Greed, 3 00:00:09,520 --> 00:00:11,440 Speaker 1: where we give you the top five business stories you 4 00:00:11,480 --> 00:00:13,720 Speaker 1: need to know in just five minutes. I'm Michael Thompson 5 00:00:13,760 --> 00:00:15,040 Speaker 1: and good morning Sean Aylmer. 6 00:00:15,160 --> 00:00:16,800 Speaker 2: Good morning Michael, Sean. 7 00:00:16,920 --> 00:00:19,079 Speaker 1: Five stories, five minutes. Let's go a story number one, 8 00:00:19,280 --> 00:00:21,960 Speaker 1: good news story for a change. For the first time, 9 00:00:22,079 --> 00:00:26,520 Speaker 1: renewables supplied the majority of Australia's electricity needs for a 10 00:00:26,560 --> 00:00:30,040 Speaker 1: complete quarter and as a result, prices across the network 11 00:00:30,040 --> 00:00:32,560 Speaker 1: for the final three months of last year were lower. 12 00:00:32,880 --> 00:00:36,000 Speaker 2: The Australian Energy Market Operator said wind, solar, hydro and 13 00:00:36,000 --> 00:00:38,879 Speaker 2: batteries account for just over fifty one percent of generation 14 00:00:39,040 --> 00:00:42,640 Speaker 2: across the national electricity market in the December quarter, edging 15 00:00:42,640 --> 00:00:45,240 Speaker 2: out coal and gas for the first time in any 16 00:00:45,280 --> 00:00:49,920 Speaker 2: three month period. It reflects decades of investment in renewable capacity, 17 00:00:50,120 --> 00:00:54,160 Speaker 2: supported by wind generation, ongoing rooftop solar panel uptake and 18 00:00:54,200 --> 00:00:58,480 Speaker 2: a rapid expansion of large scale batteries. Impressively, this happened 19 00:00:59,040 --> 00:01:04,240 Speaker 2: in a quarter of record demand. Basically, rioftop silar, the batteries, 20 00:01:04,319 --> 00:01:07,479 Speaker 2: they're doing really well. Renewables are also cheaper than fossil 21 00:01:07,480 --> 00:01:10,479 Speaker 2: fuel energy. The cost over that three months about forty 22 00:01:10,480 --> 00:01:13,520 Speaker 2: percent less than a year earlier. Theoretically that should feed 23 00:01:13,560 --> 00:01:15,280 Speaker 2: through to lower household power prices. 24 00:01:16,319 --> 00:01:18,679 Speaker 1: What's making the difference here, Sean, Is it the solar 25 00:01:18,720 --> 00:01:21,120 Speaker 1: panels or is it the fact that there is this 26 00:01:21,280 --> 00:01:23,559 Speaker 1: increase in installation of batteries and you can actually store 27 00:01:23,600 --> 00:01:24,000 Speaker 1: the power? 28 00:01:24,280 --> 00:01:26,400 Speaker 2: Yeah? No, no, out both. In one half hour period 29 00:01:26,440 --> 00:01:29,160 Speaker 2: during the December quarter, rioftop silar accountant for sixty one 30 00:01:29,240 --> 00:01:32,480 Speaker 2: percent of energy demand. Quite remarkable. But also there are 31 00:01:32,520 --> 00:01:35,600 Speaker 2: now one hundred and forty five thousand household battery installations, 32 00:01:35,959 --> 00:01:38,640 Speaker 2: more wind farms, and during that three month period there 33 00:01:38,640 --> 00:01:41,240 Speaker 2: was more wind and more sun and that helped out 34 00:01:41,560 --> 00:01:45,080 Speaker 2: variable renewable energy output last quarter was up twenty three 35 00:01:45,120 --> 00:01:46,360 Speaker 2: percent on a year earlier. 36 00:01:46,680 --> 00:01:48,680 Speaker 1: Just quickly, what's it mean for carbon emissions? 37 00:01:49,000 --> 00:01:51,600 Speaker 2: Great news, market operators to the increase in renewable output 38 00:01:51,680 --> 00:01:54,920 Speaker 2: drove the national energy market TUNTELE emissions and emissions intensity 39 00:01:55,360 --> 00:01:58,200 Speaker 2: to new all time record low levels. 40 00:01:58,640 --> 00:02:00,600 Speaker 1: Okay, moving on to story number two. Now, the Federal 41 00:02:00,680 --> 00:02:03,440 Speaker 1: Liberal Party is contemplating a change of leadership with the 42 00:02:03,480 --> 00:02:06,880 Speaker 1: two main rivals to opposition leader Susan Lee meeting in 43 00:02:06,920 --> 00:02:07,800 Speaker 1: Melbourne yesterday. 44 00:02:08,000 --> 00:02:11,120 Speaker 2: Angus Taylor and Andrew Hastey, you met yesterday morning. So far 45 00:02:11,160 --> 00:02:13,280 Speaker 2: there doesn't seem to be much agreement on who might 46 00:02:13,600 --> 00:02:16,400 Speaker 2: take on Leeb. Both are from the conservative faction of 47 00:02:16,440 --> 00:02:19,320 Speaker 2: the Libs, meaning that slit the Conservative vote if they 48 00:02:19,360 --> 00:02:22,079 Speaker 2: both ran. So they're trying to work out some sort 49 00:02:22,120 --> 00:02:25,120 Speaker 2: of deal. Media this morning saying they haven't reached agreement, 50 00:02:25,160 --> 00:02:27,680 Speaker 2: but they're going to keep talking. The meeting in Melbourne 51 00:02:27,680 --> 00:02:30,440 Speaker 2: came as Liberal MPs gathered to mourn the very sad 52 00:02:30,520 --> 00:02:32,840 Speaker 2: death of MP Katie Allen, who died of a rare 53 00:02:32,880 --> 00:02:36,040 Speaker 2: form of cancer late last year. She was just fifty nine. 54 00:02:36,240 --> 00:02:38,320 Speaker 2: She was remembered for her drive to make a difference 55 00:02:38,360 --> 00:02:41,640 Speaker 2: as a pediatrician and for her rich life. Pretty much 56 00:02:41,680 --> 00:02:43,720 Speaker 2: all the federal Liberal MPs were there, as well as 57 00:02:43,720 --> 00:02:47,720 Speaker 2: former MPs including Peter Dutton, Josh Friedenberg and Peter Costello. 58 00:02:48,560 --> 00:02:51,520 Speaker 1: Story number three a tale of two commodities on the 59 00:02:51,560 --> 00:02:55,200 Speaker 1: ASX yesterday, Sean uranium prices surged to their highest level 60 00:02:55,240 --> 00:02:58,919 Speaker 1: in two years, sending nuclear stocks higher, while rare earth 61 00:02:58,919 --> 00:03:01,240 Speaker 1: stocks tumbled on comments from Donald Trump. 62 00:03:01,560 --> 00:03:04,200 Speaker 2: Uranium price has pushed past one hundred US dollars a 63 00:03:04,200 --> 00:03:06,200 Speaker 2: pound for the first time in two years, after the 64 00:03:06,200 --> 00:03:10,480 Speaker 2: world's largest physical uranium fund, known as the SPROT Trust, 65 00:03:10,960 --> 00:03:14,320 Speaker 2: ramped up purchases of yellow Cake, bunch of our stocks, 66 00:03:14,360 --> 00:03:18,320 Speaker 2: Deep Yellow, next Gen, Boss Energy, Paladin. They all sared 67 00:03:19,240 --> 00:03:21,040 Speaker 2: all those stocks, not Boss Energy. It has some other 68 00:03:21,080 --> 00:03:23,400 Speaker 2: issues going on, but the rest of them have are 69 00:03:23,440 --> 00:03:25,679 Speaker 2: all up by about seventy percent over the past year. 70 00:03:25,720 --> 00:03:28,720 Speaker 2: On the flip side, shares in rare earths producers like 71 00:03:28,800 --> 00:03:32,239 Speaker 2: Linus and a Luca Resources crashed after reports in the 72 00:03:32,360 --> 00:03:36,600 Speaker 2: United States suggested the Trump administration might abandon plans to 73 00:03:36,680 --> 00:03:40,680 Speaker 2: set price floors for rare earths. The news hints at 74 00:03:40,680 --> 00:03:45,200 Speaker 2: the administration wavering in its support of the sector at 75 00:03:45,200 --> 00:03:47,680 Speaker 2: the moment. Washington camera, A bunch of countries are trying 76 00:03:47,680 --> 00:03:51,400 Speaker 2: to break China's stranglehold on the market. But if Washington 77 00:03:51,480 --> 00:03:53,640 Speaker 2: goes soft on or a bit cold on it, that 78 00:03:53,680 --> 00:03:56,120 Speaker 2: won't be good for our rare earth miners. 79 00:03:56,520 --> 00:04:01,400 Speaker 1: No Story Number four. The EU and have ratified a 80 00:04:01,480 --> 00:04:04,840 Speaker 1: mega trade deal as the two groups rethink trade ties 81 00:04:04,880 --> 00:04:06,320 Speaker 1: on the back of U S tariffs. 82 00:04:06,560 --> 00:04:10,040 Speaker 2: European Commission President Urslavon de Lane called the agreement, the 83 00:04:10,080 --> 00:04:13,280 Speaker 2: mother of all deals, involves the twenty seven member countries 84 00:04:13,280 --> 00:04:16,200 Speaker 2: of the EU and the world's most populous country, India, 85 00:04:16,240 --> 00:04:18,800 Speaker 2: has been hit with fifty percent tarifs under the Trump administration. 86 00:04:19,320 --> 00:04:22,440 Speaker 2: Under this duties on around ninety percent of one hundred 87 00:04:22,440 --> 00:04:24,880 Speaker 2: and thirty six billion dollars worth of goods traded annually 88 00:04:24,960 --> 00:04:29,479 Speaker 2: will be removed. Europe it wins around cars, wine, beer, pasta, 89 00:04:29,640 --> 00:04:33,480 Speaker 2: India around clothes, chemicals and furniture. Just starting to see 90 00:04:33,480 --> 00:04:35,800 Speaker 2: a lot more of these non US trade deals. So 91 00:04:35,800 --> 00:04:39,000 Speaker 2: the EU has recently done one with four Latin American countries. 92 00:04:39,040 --> 00:04:41,920 Speaker 2: They've now done this one with India. China and Canada 93 00:04:42,040 --> 00:04:45,080 Speaker 2: have done a deal. The UK Prime Minister kirs Armas 94 00:04:45,120 --> 00:04:47,800 Speaker 2: in China at the moment talking trade. It's funny how 95 00:04:47,839 --> 00:04:51,560 Speaker 2: these Liberation Day tariffs have re oriented many of these 96 00:04:51,600 --> 00:04:52,960 Speaker 2: trade deals absolutely. 97 00:04:53,200 --> 00:04:56,360 Speaker 1: Finally, last one Sean there was a bunch of US 98 00:04:56,400 --> 00:04:59,919 Speaker 1: textocs reporting over the past twenty four hours and Tesla 99 00:05:00,240 --> 00:05:04,160 Speaker 1: said it's going to scrap its S and X models 100 00:05:04,240 --> 00:05:07,720 Speaker 1: and invest two billion US dollars into Elon Musk's XAI. 101 00:05:08,240 --> 00:05:11,600 Speaker 1: It really demonstrates Tesla's shift in focus away from cars 102 00:05:11,640 --> 00:05:13,359 Speaker 1: towards AI and robotics. 103 00:05:13,600 --> 00:05:15,760 Speaker 2: The announcement came out of the group reported its first 104 00:05:15,880 --> 00:05:19,039 Speaker 2: ever four in annual profits and leaves Tesla with just 105 00:05:19,040 --> 00:05:22,600 Speaker 2: two models, the entry Level three and the small y SUV. 106 00:05:23,200 --> 00:05:26,560 Speaker 2: Elon Musk called the dropping of the car the EV's 107 00:05:26,920 --> 00:05:29,200 Speaker 2: slightly sad, but he said it was part of the 108 00:05:29,240 --> 00:05:32,520 Speaker 2: company shift to an autonomous future. It's all about robots 109 00:05:32,600 --> 00:05:35,800 Speaker 2: driving or sorry, autonomous driving, rather than people driving cars 110 00:05:35,800 --> 00:05:39,120 Speaker 2: for Elon Musk. Very quickly, Microsoft reported last night Big 111 00:05:39,160 --> 00:05:42,680 Speaker 2: spin on ai its share price was sold off. Meta 112 00:05:42,839 --> 00:05:46,680 Speaker 2: also reported Massive Spin and ai ITAs share price jumped. 113 00:05:47,000 --> 00:05:49,080 Speaker 1: All right, there we go the top five business stories 114 00:05:49,080 --> 00:05:50,560 Speaker 1: in five minutes. Thank you very much, Sean. 115 00:05:50,760 --> 00:05:51,400 Speaker 2: Thanks Michael. 116 00:05:51,520 --> 00:05:55,400 Speaker 1: It's Friday, the thirtieth of January twenty twenty six, remembered 117 00:05:55,440 --> 00:05:58,360 Speaker 1: hit follow on the podcast and five minutes just isn't enough. 118 00:05:58,400 --> 00:06:00,359 Speaker 1: You can find our longer daily show called Fear and 119 00:06:00,480 --> 00:06:03,080 Speaker 1: Greed wherever you listen to podcasts. I'm Michael Thompson and 120 00:06:03,120 --> 00:06:05,400 Speaker 1: that was the fast five business news by Fear and Greed. 121 00:06:05,680 --> 00:06:08,880 Speaker 1: Have a great day.