1 00:00:03,840 --> 00:00:06,880 Speaker 1: It's Monday, the ninth of March twenty twenty six. Welcome 2 00:00:06,880 --> 00:00:09,280 Speaker 1: to the Fast five Business News by Fear and Greed, 3 00:00:09,320 --> 00:00:11,040 Speaker 1: where we give you the top five business stories you 4 00:00:11,080 --> 00:00:13,240 Speaker 1: need to know in just five minutes. Are Michael Thompson 5 00:00:13,280 --> 00:00:16,840 Speaker 1: and Good Morning Sean Ailmark, Good Morning Michael, Shawn. Five 6 00:00:16,880 --> 00:00:19,200 Speaker 1: stories in five minutes. A very quickly reminder before we 7 00:00:19,239 --> 00:00:21,800 Speaker 1: do that that if you're listening to this through Spotify 8 00:00:22,000 --> 00:00:25,000 Speaker 1: and doing it in particular through your daily drive playlist, 9 00:00:25,440 --> 00:00:28,480 Speaker 1: next week that playlist will disappear, so you must hit 10 00:00:28,560 --> 00:00:30,880 Speaker 1: follow on the Fast five today to make sure that 11 00:00:30,920 --> 00:00:33,560 Speaker 1: you can still hear us on with the show. Story 12 00:00:33,640 --> 00:00:36,320 Speaker 1: number one. The local share market is set to tumble 13 00:00:36,479 --> 00:00:40,600 Speaker 1: this morning, Shawn, after oil prices surged beyond ninety two 14 00:00:40,680 --> 00:00:43,400 Speaker 1: US dollars a barrel and US President Donald Trump on 15 00:00:43,440 --> 00:00:46,040 Speaker 1: social media set Iran would be hit very hard and 16 00:00:46,080 --> 00:00:48,880 Speaker 1: the war could expand to other areas and other groups 17 00:00:48,920 --> 00:00:52,239 Speaker 1: of people. After falling nearly four percent last week, the 18 00:00:52,280 --> 00:00:54,760 Speaker 1: SNPA SX two hundred is set to open nearly two 19 00:00:54,840 --> 00:00:58,280 Speaker 1: percent lower. That's according to futures trading. Oil prices have 20 00:00:58,400 --> 00:01:01,080 Speaker 1: risen on the back of feared production disruption. Throughout the 21 00:01:01,080 --> 00:01:03,560 Speaker 1: Middle East and the closure of the Strait of Humuz, 22 00:01:04,000 --> 00:01:08,320 Speaker 1: where about twenty percent of the world's oil supply passes 23 00:01:08,360 --> 00:01:12,360 Speaker 1: through that area. Over the weekend, Iranian state media reported 24 00:01:12,360 --> 00:01:15,479 Speaker 1: that an oil storage facility in southern Tehran had been 25 00:01:15,560 --> 00:01:20,039 Speaker 1: hit in a US Israeli strike. The Islamic Revolutionary Guard 26 00:01:20,120 --> 00:01:24,920 Speaker 1: CORE indicated it would retaliate by striking a refinery in Israel. Meanwhile, 27 00:01:25,000 --> 00:01:28,880 Speaker 1: the UAE and Kuwait have both started cutting oil output, 28 00:01:29,400 --> 00:01:32,800 Speaker 1: largely because they just actually can't ship it anywhere. 29 00:01:32,560 --> 00:01:35,360 Speaker 2: Exactly, and that all pushed Brent to ninety two dollars 30 00:01:35,400 --> 00:01:37,840 Speaker 2: sixty nine US of barrel over the weekend, the highest 31 00:01:37,920 --> 00:01:41,160 Speaker 2: level in eighteen months. Brints up thirty four percent over 32 00:01:41,240 --> 00:01:43,640 Speaker 2: the past month. Price of oil is key to share 33 00:01:43,680 --> 00:01:48,520 Speaker 2: markets because it's critical to economies, including Australia. Higher prices 34 00:01:48,560 --> 00:01:52,360 Speaker 2: of oil pushes up transportation costs, including at the bowser, 35 00:01:52,640 --> 00:01:54,600 Speaker 2: that can leave consumers with less money to spend on 36 00:01:54,640 --> 00:01:57,200 Speaker 2: other things. It also pushes up production costs, of course, 37 00:01:57,240 --> 00:02:00,680 Speaker 2: that relies on transport and energy. When you get right prices, 38 00:02:00,680 --> 00:02:03,120 Speaker 2: central banks tend to think more about lifting interest rates, 39 00:02:03,200 --> 00:02:07,880 Speaker 2: which in turn slows down economies. A not so pleasant cycle. 40 00:02:08,800 --> 00:02:10,919 Speaker 1: Indeed, we're already seeing a slow down in the US, 41 00:02:11,000 --> 00:02:14,040 Speaker 1: with labor market data showing a loss of nearly one 42 00:02:14,120 --> 00:02:17,640 Speaker 1: hundred thousand jobs over the weekend. But there's also plenty 43 00:02:17,680 --> 00:02:21,120 Speaker 1: of signs of inflation as well in the world's largest economy. 44 00:02:21,280 --> 00:02:24,040 Speaker 1: So suddenly you put those together. Slowing economy with inflation 45 00:02:24,200 --> 00:02:27,280 Speaker 1: sounds unfortunately a lot like stagflation, which nobody wants. 46 00:02:27,480 --> 00:02:29,480 Speaker 2: Yeah, and I mean big test for the Trump administration 47 00:02:29,560 --> 00:02:32,480 Speaker 2: on that, particularly since they've got midterm elections later in 48 00:02:32,520 --> 00:02:34,320 Speaker 2: the year. There's also a bit of a spat at 49 00:02:34,320 --> 00:02:37,079 Speaker 2: the moment between the US and the UK. President Donald 50 00:02:37,080 --> 00:02:40,040 Speaker 2: Trump told the Prime Minister Keirstarmer his country did not 51 00:02:40,160 --> 00:02:43,720 Speaker 2: need its once great ally that's Britain to send aircraft 52 00:02:43,760 --> 00:02:46,800 Speaker 2: carriers to the region. That's after Britain was slow to 53 00:02:46,919 --> 00:02:50,480 Speaker 2: offer to send carriers to the region. I think worth 54 00:02:50,520 --> 00:02:53,320 Speaker 2: a mention Foreign Minster Penny Wong so Australia it's considering 55 00:02:53,360 --> 00:02:56,400 Speaker 2: aiding Gulf countries to protect them against strawi and missile attacks, 56 00:02:56,639 --> 00:02:59,280 Speaker 2: though she ruled out direct defensive action against Iran. 57 00:03:00,000 --> 00:03:02,000 Speaker 1: Okay, moving on to story number two, which is linked 58 00:03:02,080 --> 00:03:04,560 Speaker 1: of course to story number one. Because fuel rational in 59 00:03:04,560 --> 00:03:07,839 Speaker 1: Australia has been introduced by one wholesaler in the wake 60 00:03:07,880 --> 00:03:11,600 Speaker 1: of the Middle East conflict. United Petroleum has told customers 61 00:03:11,680 --> 00:03:17,359 Speaker 1: it has suspended normal fuel allocations across all locations effective immediately, 62 00:03:17,480 --> 00:03:21,799 Speaker 1: citing uncertainty and global oil markets and of the potential 63 00:03:21,840 --> 00:03:25,519 Speaker 1: disruption to shipping routes that we mentioned before and freight availability. 64 00:03:25,960 --> 00:03:29,160 Speaker 2: United Petroleum was one of Australia's largest independent fuel wholesalers. 65 00:03:29,200 --> 00:03:31,880 Speaker 2: The wholesaler goes to the ship, picks up the fuel 66 00:03:32,200 --> 00:03:34,839 Speaker 2: delivers at the servo, or goes to the refinery picks 67 00:03:34,880 --> 00:03:37,120 Speaker 2: up the fuel that lives at the servo now. In 68 00:03:37,120 --> 00:03:39,440 Speaker 2: a note to customers, United Petroleum said the move was 69 00:03:39,480 --> 00:03:42,880 Speaker 2: a precautionary step while the company assessed its fuel inventories 70 00:03:43,200 --> 00:03:48,200 Speaker 2: and incoming cargo schedules. According to the Australian, Australian Institute 71 00:03:48,200 --> 00:03:50,800 Speaker 2: of Petroleum Chief executive Malcolm Roberts said the industry had 72 00:03:50,800 --> 00:03:54,760 Speaker 2: observed a sharp increase in fuel purchases since the conflict 73 00:03:54,840 --> 00:03:57,800 Speaker 2: began in Iran. Problem is when these stories start getting out, 74 00:03:57,800 --> 00:04:00,200 Speaker 2: people start to panic, think there won't be fuel, and 75 00:04:00,240 --> 00:04:02,240 Speaker 2: I keep buying probably more than they need to. 76 00:04:02,640 --> 00:04:06,680 Speaker 1: Yeah. Indeed, story number three long weekends in Victoria, South Australia, 77 00:04:06,720 --> 00:04:09,200 Speaker 1: and the Act cut the number of homes up for 78 00:04:09,240 --> 00:04:13,000 Speaker 1: auction over the past week, although the combined preliminary clearance 79 00:04:13,080 --> 00:04:16,480 Speaker 1: rate was still a relatively strong seventy two point one percent. 80 00:04:16,640 --> 00:04:18,920 Speaker 2: Yeah, not bad. Sydney has to nearly a thousand auctions, 81 00:04:19,000 --> 00:04:21,960 Speaker 2: with its clear and Straight coming in at seventy four percent. 82 00:04:22,040 --> 00:04:25,320 Speaker 2: Melbourne held fewer than normal that had the Grand Prix 83 00:04:25,320 --> 00:04:27,720 Speaker 2: on down there. Of course, sixty five point five percent. 84 00:04:27,839 --> 00:04:29,520 Speaker 2: Numbers are a little bit difficult to read given the 85 00:04:29,520 --> 00:04:33,000 Speaker 2: disruption from the long weekend. Undoubtedly, higher interest rates are 86 00:04:33,000 --> 00:04:36,400 Speaker 2: playing on buyers minds. Observe being bored. Meets in a week, 87 00:04:36,520 --> 00:04:39,560 Speaker 2: meets in a week's time to consider interest rates. There 88 00:04:39,680 --> 00:04:41,599 Speaker 2: is a chance of a rate hike. THO would increase, 89 00:04:41,640 --> 00:04:43,520 Speaker 2: It's probably more likely to occur. In May. 90 00:04:44,680 --> 00:04:49,200 Speaker 1: Story number four, Australia Post has posted five billion dollars. 91 00:04:49,560 --> 00:04:51,080 Speaker 1: I just thought I'd slip that in there and to 92 00:04:51,120 --> 00:04:52,920 Speaker 1: see if you nardis and I couldn't even get through 93 00:04:52,960 --> 00:04:55,720 Speaker 1: it without smiling anyway. It has posted five billion dollars 94 00:04:55,760 --> 00:04:59,280 Speaker 1: in revenue for the December half, with parcels and services 95 00:04:59,279 --> 00:05:03,680 Speaker 1: now comprised eighty percent of turnover. But group profit actually 96 00:05:03,680 --> 00:05:05,839 Speaker 1: fell from nearly two hundred and fifty million dollars to 97 00:05:05,920 --> 00:05:06,880 Speaker 1: fifty million. 98 00:05:06,600 --> 00:05:08,440 Speaker 2: So the big chang of that lower profit reflected a 99 00:05:08,480 --> 00:05:10,839 Speaker 2: two hundred and twenty million dollar investment to transform the 100 00:05:10,880 --> 00:05:13,680 Speaker 2: business to meet the surge in e commerce. Performance in 101 00:05:13,760 --> 00:05:15,560 Speaker 2: first half was driven by a record one hundred and 102 00:05:15,560 --> 00:05:19,560 Speaker 2: eleven million parcels delivered across the November December peak period. 103 00:05:19,960 --> 00:05:23,599 Speaker 2: That's more than three thousand parcels every minute, phenomenal across 104 00:05:23,640 --> 00:05:26,320 Speaker 2: the six months two hundred and eighty three million parcels 105 00:05:26,600 --> 00:05:29,240 Speaker 2: during that period. Letter volumes fell twelve percent, so they 106 00:05:29,279 --> 00:05:31,840 Speaker 2: did two undred eighty three million parcels seven hundred and 107 00:05:31,880 --> 00:05:35,839 Speaker 2: thirty four million letters. Now that division, the letter division, 108 00:05:35,880 --> 00:05:37,800 Speaker 2: made a loss, though it is trying to push up 109 00:05:37,839 --> 00:05:41,640 Speaker 2: the price of stamps, which might help that. But Ossie 110 00:05:41,640 --> 00:05:44,039 Speaker 2: pays very much a parcels business nowadays. 111 00:05:44,360 --> 00:05:47,159 Speaker 1: Yeah. At last one story number five. The rise and 112 00:05:47,240 --> 00:05:49,880 Speaker 1: rise of data centers, which are often located in kind 113 00:05:49,920 --> 00:05:52,480 Speaker 1: of out of the way regions, has fostered what are 114 00:05:52,520 --> 00:05:56,640 Speaker 1: becoming known as man camps across the US. As building 115 00:05:56,680 --> 00:06:00,279 Speaker 1: companies fight for staff, they've shifted from offering like dodgy 116 00:06:00,360 --> 00:06:03,240 Speaker 1: Wi Fi being put up in a dodgy local motel 117 00:06:03,920 --> 00:06:07,360 Speaker 1: to temporary villagers that have got games rooms and free 118 00:06:07,360 --> 00:06:09,240 Speaker 1: steak and golf simulators. 119 00:06:09,440 --> 00:06:12,200 Speaker 2: Incredible, What else would you want? Companies that specialize in 120 00:06:12,200 --> 00:06:14,920 Speaker 2: short term housing bills are basically shifting their focus from 121 00:06:15,000 --> 00:06:18,200 Speaker 2: stuff like immigration detention set as to data center accommodation. 122 00:06:18,520 --> 00:06:22,520 Speaker 2: Bloomberg estimates seven hundred billion dollars worth of mobile housing 123 00:06:22,520 --> 00:06:25,480 Speaker 2: projects are in the development station a stage across the US, 124 00:06:25,640 --> 00:06:28,320 Speaker 2: not all data centers, not all four day centers. But 125 00:06:28,440 --> 00:06:31,960 Speaker 2: AI has spurred on the industry. Not a totally unusual 126 00:06:31,960 --> 00:06:34,360 Speaker 2: concept for Australia. You know, fly and fly out work 127 00:06:34,440 --> 00:06:38,159 Speaker 2: is fairly normal, but these homes are much flasher, wood 128 00:06:38,200 --> 00:06:40,960 Speaker 2: frame two story apartment buildings. And then they go right 129 00:06:41,000 --> 00:06:44,960 Speaker 2: through to trailer parks, free housing, free mails, free amenities, 130 00:06:45,000 --> 00:06:48,119 Speaker 2: free travel to work. Actually called workplace hubs, not man camps. 131 00:06:48,120 --> 00:06:50,320 Speaker 2: Women and married couples are part of the communities, but 132 00:06:50,640 --> 00:06:55,559 Speaker 2: undoubtedly dominated by men and growing all over the US 133 00:06:55,640 --> 00:06:56,440 Speaker 2: these man camps. 134 00:06:57,320 --> 00:06:59,520 Speaker 1: There you go. That's it, the top five business stories 135 00:06:59,560 --> 00:07:02,880 Speaker 1: in five men. Thank you Sean, thank you Michael. It's Monday, 136 00:07:03,040 --> 00:07:05,320 Speaker 1: the ninth of March twenty twenty six. Remember to hit 137 00:07:05,440 --> 00:07:08,040 Speaker 1: follow on the podcast and five minutes isn't enough. You 138 00:07:08,080 --> 00:07:10,440 Speaker 1: can find our longer daily show called Fear and Greed 139 00:07:10,480 --> 00:07:13,280 Speaker 1: wherever you listen to podcasts. I'm Michael Thompson and that 140 00:07:13,360 --> 00:07:15,360 Speaker 1: was the Fast five Business news by Fear and Greed. 141 00:07:15,560 --> 00:07:18,880 Speaker 1: Have a great day.