1 00:00:03,880 --> 00:00:07,200 Speaker 1: It's Wednesday, the seventeenth of September twenty twenty five. Welcome 2 00:00:07,240 --> 00:00:09,600 Speaker 1: to the Fast five Business News by Fear and Greed, 3 00:00:09,640 --> 00:00:11,440 Speaker 1: where we give you the top five business stories you 4 00:00:11,480 --> 00:00:14,000 Speaker 1: need to know in just five minutes. Are Michael Thompson 5 00:00:14,040 --> 00:00:15,400 Speaker 1: and Good morning, Sean. 6 00:00:15,120 --> 00:00:17,320 Speaker 2: Aylmer, Good morning, Michael. All Right. 7 00:00:17,360 --> 00:00:20,919 Speaker 1: Five stories, five minutes, let's go Story number one. Super Retail, 8 00:00:21,079 --> 00:00:24,120 Speaker 1: the owner of Rebel Sport BCF and super Chief Auto, 9 00:00:24,640 --> 00:00:28,720 Speaker 1: has fired chief executive Anthony Herety after they say he 10 00:00:28,840 --> 00:00:32,840 Speaker 1: misled the board about his alleged relationship with the company's 11 00:00:33,000 --> 00:00:35,640 Speaker 1: former head of human resources, Jane Kelly. 12 00:00:35,920 --> 00:00:39,040 Speaker 2: The listed retailers said the decision followed new information provided 13 00:00:39,080 --> 00:00:41,320 Speaker 2: by Herety at the end of last week. After considering 14 00:00:41,360 --> 00:00:44,400 Speaker 2: the information, the board concluded that his earlier disclosures had 15 00:00:44,440 --> 00:00:47,680 Speaker 2: been inadequate. Super Retail has been entangled in a high 16 00:00:47,680 --> 00:00:51,240 Speaker 2: profile court battle with two former legal executives for more 17 00:00:51,280 --> 00:00:54,760 Speaker 2: than a year. In April last year, Super Retail's former 18 00:00:54,800 --> 00:00:57,600 Speaker 2: chief legal officer, Rebecca Farrell, and its former company secretary 19 00:00:57,640 --> 00:01:02,840 Speaker 2: Amelia Barzelli, launched legal action against the company overclaims and 20 00:01:02,880 --> 00:01:06,240 Speaker 2: allegations of bullying, harassment. The alleged misuse of funds and 21 00:01:06,280 --> 00:01:09,640 Speaker 2: failing to protect provide a safe workplace. Now the board 22 00:01:09,640 --> 00:01:13,399 Speaker 2: has played down the executive's relationship that's the Herety and 23 00:01:13,600 --> 00:01:17,679 Speaker 2: Jane Kelly, saying it started after Kelly had left the company. However, 24 00:01:17,760 --> 00:01:22,280 Speaker 2: a fresh internal investigation was initiated under new chairwoman Judith Swales. 25 00:01:22,640 --> 00:01:25,640 Speaker 2: As a result of that investigation, they have sacked Herety. 26 00:01:26,360 --> 00:01:29,440 Speaker 2: They've also hit his future earnings. He's set to lose 27 00:01:29,480 --> 00:01:31,960 Speaker 2: about three point four million dollars as a result of 28 00:01:32,000 --> 00:01:33,120 Speaker 2: this decision yesterday. 29 00:01:33,520 --> 00:01:36,920 Speaker 1: Now sean the case was particularly unusual because super Retail 30 00:01:37,000 --> 00:01:39,480 Speaker 1: last year announced the potential legal action ahead of it 31 00:01:39,520 --> 00:01:42,279 Speaker 1: actually being taken. And it also adds to the growing 32 00:01:42,280 --> 00:01:45,720 Speaker 1: list of companies where CEOs have had relationships with staff members, 33 00:01:45,760 --> 00:01:47,160 Speaker 1: which isn't a great look. 34 00:01:47,440 --> 00:01:49,920 Speaker 2: Yeah, look last year was Richard Weis Tech Global. Of 35 00:01:49,960 --> 00:01:52,640 Speaker 2: course we had the coulplay kiss for guy called Andy 36 00:01:52,640 --> 00:01:56,520 Speaker 2: Byron from Astronomer. The point and all this are think 37 00:01:56,520 --> 00:01:58,559 Speaker 2: it's not so much of the relationships, so they're probably 38 00:01:58,600 --> 00:02:00,920 Speaker 2: ill advised, but I'm not coming out on that. It's 39 00:02:00,960 --> 00:02:04,640 Speaker 2: a transparency around them and how they impact other staff members. 40 00:02:04,720 --> 00:02:07,600 Speaker 2: In many of the situations, there are allegations of misuse 41 00:02:07,640 --> 00:02:11,920 Speaker 2: of company funds, bullying, and inadequate whistle blower protections. They're 42 00:02:11,919 --> 00:02:13,320 Speaker 2: the real problems for the companies. 43 00:02:13,520 --> 00:02:16,240 Speaker 1: Indeed, Okay, moving on to story number two now, and 44 00:02:16,320 --> 00:02:19,600 Speaker 1: the federal government has provided social media giants with more 45 00:02:19,639 --> 00:02:22,240 Speaker 1: detail of what it expects from them when the ban 46 00:02:22,480 --> 00:02:25,480 Speaker 1: for under sixteen year olds kicks in in December. 47 00:02:26,120 --> 00:02:28,240 Speaker 2: The government says the social media giants need to have 48 00:02:28,280 --> 00:02:31,679 Speaker 2: systems in place that detect underage users and stop them 49 00:02:31,800 --> 00:02:34,960 Speaker 2: bypassing the ban. Cameras not telling the tech companies how 50 00:02:35,000 --> 00:02:37,280 Speaker 2: to do it, just they need to do it. There's 51 00:02:37,320 --> 00:02:40,120 Speaker 2: also the companies also need to have a system in 52 00:02:40,160 --> 00:02:44,840 Speaker 2: place that makes it easy for wrongfully deactivated users to appeal. 53 00:02:45,160 --> 00:02:48,639 Speaker 2: Communications Minister Anika Wells and E Safety Commissioner duly inmand 54 00:02:48,639 --> 00:02:53,919 Speaker 2: Grant issued the directions to YouTube, TikTok, snaptat, Instagram, and Facebook. 55 00:02:53,480 --> 00:02:57,240 Speaker 1: Yesterday story number three. More than ninety percent of home 56 00:02:57,320 --> 00:02:59,679 Speaker 1: sales make money for the seller, and the amount of 57 00:02:59,720 --> 00:03:03,360 Speaker 1: non profit the dollars in the pocket has reached a 58 00:03:03,400 --> 00:03:04,480 Speaker 1: record level shorn. 59 00:03:05,240 --> 00:03:08,239 Speaker 2: That's according to Totalities Q two Pain and Gain Report, 60 00:03:08,280 --> 00:03:12,680 Speaker 2: the median nominal gain from resales rose to a record 61 00:03:12,720 --> 00:03:15,280 Speaker 2: three hundred and fifteen thousand dollars in the June quarter. 62 00:03:15,800 --> 00:03:18,880 Speaker 2: The median lost decline to forty two thousand. Now ninety 63 00:03:18,880 --> 00:03:21,040 Speaker 2: five percent of people that resell their home actually make 64 00:03:21,080 --> 00:03:24,160 Speaker 2: a profit. Hottest market Cayama, along the south coast of 65 00:03:24,240 --> 00:03:27,040 Speaker 2: New South Wales. Brisbane's the most profitable of the capital 66 00:03:27,120 --> 00:03:31,480 Speaker 2: cities overall, though six of the top most profitable local 67 00:03:31,520 --> 00:03:34,920 Speaker 2: government areas are in Sydney. But Regional Australia for the 68 00:03:35,000 --> 00:03:39,200 Speaker 2: last five years has outperformed City Australia. There you go. 69 00:03:39,520 --> 00:03:42,280 Speaker 1: Storing of before Shawn on Wall Street, which hit a 70 00:03:42,280 --> 00:03:46,160 Speaker 1: new record yesterday. Google parent Alphabet continued at September rally 71 00:03:46,200 --> 00:03:50,720 Speaker 1: the company's market value topping three trillion US dollars for 72 00:03:50,760 --> 00:03:51,640 Speaker 1: the first time ever. 73 00:03:52,000 --> 00:03:54,720 Speaker 2: In fact, since September two, the day before the company 74 00:03:54,760 --> 00:03:58,000 Speaker 2: got a favorable court ruling on a closely watched any 75 00:03:58,120 --> 00:04:03,440 Speaker 2: competition case, Alphabet share price has risen nineteen percent, and 76 00:04:03,560 --> 00:04:06,760 Speaker 2: Vidia remains the largest company on Wall Street. Four point 77 00:04:06,800 --> 00:04:09,800 Speaker 2: three trillion US dollars is its value, Microsoft's at three 78 00:04:09,800 --> 00:04:13,040 Speaker 2: point eight trillion US dollars, Apple three point five trillion 79 00:04:13,280 --> 00:04:17,880 Speaker 2: US dollars. By comparison, the whole Australian market is worth 80 00:04:17,920 --> 00:04:21,320 Speaker 2: around two point one trillion US dollars. That's about half 81 00:04:21,520 --> 00:04:25,159 Speaker 2: the size of Nvidia, and compares to those Big four 82 00:04:25,200 --> 00:04:28,720 Speaker 2: put together fourteen point six trillion US dollars. A lot 83 00:04:28,720 --> 00:04:32,760 Speaker 2: of numbers there, just means these Wall Street giants are big, 84 00:04:33,279 --> 00:04:33,839 Speaker 2: very big. 85 00:04:34,200 --> 00:04:37,080 Speaker 1: Last one story number five. US President Donald Trump has 86 00:04:37,120 --> 00:04:40,880 Speaker 1: filed a defamation lawsuit against The New York Times, seeking 87 00:04:40,880 --> 00:04:44,160 Speaker 1: another very big number, fifteen billion US dollars in damages 88 00:04:44,200 --> 00:04:46,720 Speaker 1: from the media organization that he's accused of being a 89 00:04:46,720 --> 00:04:48,560 Speaker 1: mouthpiece for the Democratic Party. 90 00:04:48,760 --> 00:04:51,279 Speaker 2: Lawyers for Trump ac here's the NYT of I quote 91 00:04:51,320 --> 00:04:54,760 Speaker 2: spreading false and defamatory content end quote about the President. 92 00:04:54,839 --> 00:04:56,920 Speaker 2: They accused The New York Times of being a gain 93 00:04:57,000 --> 00:05:01,320 Speaker 2: i quote, a full throated mouthpiece of the Democratic Party 94 00:05:01,360 --> 00:05:04,919 Speaker 2: and are leading an unapologetic purveyor of falsehoods against President 95 00:05:04,960 --> 00:05:08,120 Speaker 2: Trump end quote. The defamation lawsuit against the New York 96 00:05:08,120 --> 00:05:10,680 Speaker 2: Times is the fourth multi billion dollar lawsuit Trump has 97 00:05:10,720 --> 00:05:15,480 Speaker 2: filed against major US news organization since March twenty twenty four. 98 00:05:15,800 --> 00:05:18,160 Speaker 2: The other really big one is in July, Trump suit 99 00:05:18,200 --> 00:05:20,480 Speaker 2: the Wall Street Journal for ten billion dollars over publishing 100 00:05:20,520 --> 00:05:23,599 Speaker 2: an article about a lured birthday card he allegedly sent 101 00:05:23,640 --> 00:05:27,400 Speaker 2: to Jeffrey Epstein. Anyway, it's onto the New York Times 102 00:05:27,440 --> 00:05:29,239 Speaker 2: fifteen billion dollar defamation suit. 103 00:05:29,480 --> 00:05:31,520 Speaker 1: All right, there we go, the top five business stories 104 00:05:31,560 --> 00:05:34,600 Speaker 1: in five minutes. Thank you Sean, Thank you Michael. It's Wednesday, 105 00:05:34,640 --> 00:05:37,400 Speaker 1: the seventeenth of September twenty twenty five. Remember to hit 106 00:05:37,400 --> 00:05:39,920 Speaker 1: follow on the podcast and five minutes isn't enough. You're 107 00:05:39,920 --> 00:05:42,000 Speaker 1: going to find our longer daily show called Fear and 108 00:05:42,080 --> 00:05:45,159 Speaker 1: Greed wherever you listen to podcasts. I'm Michael Thompson and 109 00:05:45,160 --> 00:05:47,400 Speaker 1: that was the fast five business news by Fear and Greed. 110 00:05:47,640 --> 00:05:48,360 Speaker 1: Have a great day.