1 00:00:03,880 --> 00:00:06,680 Speaker 1: It's Monday, the twenty second of July twenty twenty four. 2 00:00:06,880 --> 00:00:09,600 Speaker 1: Welcome to the Fast five Business News by Fear and Greed. 3 00:00:09,600 --> 00:00:11,480 Speaker 1: Will we give you the top five business stories you 4 00:00:11,520 --> 00:00:14,000 Speaker 1: need to know in just five minutes. I'm Michael Thompson 5 00:00:14,040 --> 00:00:15,480 Speaker 1: and good morning, Sean Aylmer. 6 00:00:15,720 --> 00:00:16,680 Speaker 2: Good morning, Michael. 7 00:00:16,840 --> 00:00:19,799 Speaker 1: Story number one Shawn a big one today. After intense 8 00:00:19,840 --> 00:00:23,160 Speaker 1: pressure from within his own party, President Joe Biden said 9 00:00:23,600 --> 00:00:27,880 Speaker 1: he's ending his campaign and backing Vice President Carmala Harris 10 00:00:27,920 --> 00:00:28,920 Speaker 1: to run in his place. 11 00:00:29,400 --> 00:00:32,199 Speaker 2: Miss Harris said she'd seek the nomination, adding together we 12 00:00:32,240 --> 00:00:34,879 Speaker 2: will fight, and together we will win. The eighty one 13 00:00:34,960 --> 00:00:37,640 Speaker 2: year old mister Biden has not recovered from his disastrous 14 00:00:37,640 --> 00:00:40,280 Speaker 2: debate with Donald Trump a couple of weeks ago. Eventually, 15 00:00:40,360 --> 00:00:43,240 Speaker 2: he cave to relentless pressure from his closest allies to 16 00:00:43,320 --> 00:00:45,080 Speaker 2: drop out of the race. The mid deep concerns that 17 00:00:45,080 --> 00:00:48,000 Speaker 2: he's too old and frail to defeat mister Trump. According 18 00:00:48,000 --> 00:00:50,800 Speaker 2: to The New York Times, after calling Vice President Carmala 19 00:00:50,840 --> 00:00:53,800 Speaker 2: Harris an extraordinary partner, he endorsed her to take his 20 00:00:53,840 --> 00:00:56,120 Speaker 2: place atop the ticket and I quote, it's been the 21 00:00:56,120 --> 00:00:58,320 Speaker 2: greatest honor of my life to serve as your president. 22 00:00:58,680 --> 00:01:01,160 Speaker 2: And while it's been mine tension to seek re election, 23 00:01:01,440 --> 00:01:03,080 Speaker 2: I believe it is in the best interest of my 24 00:01:03,160 --> 00:01:05,440 Speaker 2: party in the country for me to stand down and 25 00:01:05,480 --> 00:01:09,240 Speaker 2: focus entirely on fulfilling my duties as president for the 26 00:01:09,280 --> 00:01:10,679 Speaker 2: remainder of my term. 27 00:01:11,200 --> 00:01:13,960 Speaker 1: What was the reaction, like Sehn, particularly I suppose, from 28 00:01:14,000 --> 00:01:14,559 Speaker 1: Donald Trump. 29 00:01:14,959 --> 00:01:17,399 Speaker 2: Well, Donald Trump was quick off the mark. He telephoned 30 00:01:17,440 --> 00:01:20,240 Speaker 2: to see and then minutes after Joe Biden announced that 31 00:01:20,280 --> 00:01:23,840 Speaker 2: he would stand down from the presidential race to declare 32 00:01:23,920 --> 00:01:27,320 Speaker 2: him and I quote the single worst president in history. 33 00:01:27,640 --> 00:01:31,880 Speaker 2: He also posted an extraordinary, albeit typical rant on social media, 34 00:01:32,000 --> 00:01:35,000 Speaker 2: lambassing Biden as not fit to run and not fit 35 00:01:35,080 --> 00:01:38,759 Speaker 2: to serve. He's running mate j d. Vance. He wrote 36 00:01:38,840 --> 00:01:41,440 Speaker 2: on x that President Trump and I are ready to 37 00:01:41,520 --> 00:01:44,440 Speaker 2: save America whoever is at the top of the Democrat ticket. 38 00:01:45,240 --> 00:01:48,560 Speaker 2: Former President Barack Obama called Biden he's former vice president, 39 00:01:48,760 --> 00:01:51,640 Speaker 2: one of America's most consequential presidents, as well as a 40 00:01:51,720 --> 00:01:54,720 Speaker 2: dear friend and partner to me. The leaders of the 41 00:01:54,800 --> 00:01:57,480 Speaker 2: United Kingdom, of Germany of Canada have all come out 42 00:01:57,520 --> 00:02:00,680 Speaker 2: in support of what Joe Biden has done and did. 43 00:02:01,080 --> 00:02:01,200 Speaker 1: Now. 44 00:02:01,320 --> 00:02:06,000 Speaker 2: Karmala Harris still needs to be endorsed by the Democrat Party. 45 00:02:06,040 --> 00:02:09,480 Speaker 2: Not every politician has necessarily jumped out and saying hey, 46 00:02:09,520 --> 00:02:12,200 Speaker 2: she's the person to run against Donald Trump. Will hear 47 00:02:12,240 --> 00:02:16,639 Speaker 2: plenty more about that, and apparently attack ads have already 48 00:02:16,639 --> 00:02:19,960 Speaker 2: been rolled out against Karmala Harris by the Republicans. 49 00:02:20,080 --> 00:02:22,280 Speaker 1: All right, moving on to story number two. Now nine 50 00:02:22,320 --> 00:02:25,360 Speaker 1: in ten Australians now live in cities and towns, and 51 00:02:25,360 --> 00:02:28,079 Speaker 1: over the last hundred years or so, fertility rates have 52 00:02:28,240 --> 00:02:32,320 Speaker 1: halved and life expectancy has jumped by twenty six percent. 53 00:02:33,000 --> 00:02:35,480 Speaker 2: There's some of the findings from an Australian Bureau of Statistics 54 00:02:35,440 --> 00:02:38,600 Speaker 2: report that looks at historical population figures for as long 55 00:02:38,639 --> 00:02:41,360 Speaker 2: as the data goes, there are plenty of interesting facts 56 00:02:41,400 --> 00:02:44,079 Speaker 2: and figures. Australia's population in twenty twenty one, that's the 57 00:02:44,160 --> 00:02:46,760 Speaker 2: last census, so it was twenty five point seven million. 58 00:02:46,919 --> 00:02:50,040 Speaker 2: It was three point eight million in nineteint oh one. 59 00:02:50,440 --> 00:02:53,639 Speaker 2: The population has grown every year since nine and oh one, 60 00:02:53,840 --> 00:02:56,960 Speaker 2: except for World War II. The highest net increase occurred 61 00:02:56,960 --> 00:02:59,400 Speaker 2: in two thousand and nine. Over the past one hundred years, 62 00:02:59,400 --> 00:03:00,959 Speaker 2: the median eight w It's gone from twenty two and 63 00:03:00,960 --> 00:03:04,120 Speaker 2: a half years to more than thirty eight years, females 64 00:03:04,120 --> 00:03:07,440 Speaker 2: of outnumbered males since nineteen seventy eight, and the number 65 00:03:07,480 --> 00:03:10,160 Speaker 2: of workers to non workers. It's basically the under fifteen 66 00:03:10,200 --> 00:03:13,240 Speaker 2: year olds plus sixty five year olds compared to the 67 00:03:13,320 --> 00:03:15,720 Speaker 2: rest is lower today than it was a century ago. 68 00:03:16,240 --> 00:03:19,280 Speaker 1: Story number three sean it could take weeks to recover 69 00:03:19,360 --> 00:03:22,480 Speaker 1: from the IT outage on Friday, which some experts say 70 00:03:22,560 --> 00:03:25,320 Speaker 1: is the biggest ever. After a bug broke eight and 71 00:03:25,360 --> 00:03:27,880 Speaker 1: a half million Windows PCs, A. 72 00:03:27,800 --> 00:03:31,600 Speaker 2: Faulty software update from CrowdStrike, a company trusted to secure systems, 73 00:03:31,720 --> 00:03:34,880 Speaker 2: triggered the massive global disruption. CrowdStrike is one of the 74 00:03:34,880 --> 00:03:37,440 Speaker 2: world's biggest security vendors, and it blamed an update on 75 00:03:37,440 --> 00:03:40,800 Speaker 2: its Falcon software for the bug that grounded planes, disrupted 76 00:03:40,800 --> 00:03:44,880 Speaker 2: hospital services, interrupted financial service transactions, and took some media 77 00:03:44,960 --> 00:03:48,360 Speaker 2: off the air. Microsoft said while the percentage of Windows 78 00:03:48,640 --> 00:03:52,000 Speaker 2: users directly hit was small about one percent, the broad 79 00:03:52,040 --> 00:03:55,040 Speaker 2: economic and society impact reflects the use of CrowdStrike by 80 00:03:55,160 --> 00:03:58,200 Speaker 2: enterprises that run many critical services. Now, the fix is 81 00:03:58,240 --> 00:04:00,600 Speaker 2: for users affected by the blue Screen of Death to 82 00:04:00,680 --> 00:04:05,360 Speaker 2: reboot their computers and manually delete crowd strikes. Failed file update, 83 00:04:05,600 --> 00:04:07,400 Speaker 2: you can imagine that's going to take a while. 84 00:04:07,880 --> 00:04:10,560 Speaker 1: Storry Number four seawan the pace of growth of house 85 00:04:10,600 --> 00:04:14,160 Speaker 1: prices is trending down as higher for longer interest rates 86 00:04:14,200 --> 00:04:16,560 Speaker 1: finally take some of the heat out of the housing market. 87 00:04:17,279 --> 00:04:19,880 Speaker 2: The national rolling twenty eight day change in prices is 88 00:04:19,960 --> 00:04:22,960 Speaker 2: plus zero point five percent, down from zero point seven 89 00:04:23,000 --> 00:04:26,279 Speaker 2: percent a month ago. While sales enlisting activity typically show 90 00:04:26,320 --> 00:04:29,320 Speaker 2: US seasonal easing through winter, the trend in housing values 91 00:04:29,360 --> 00:04:34,239 Speaker 2: hasn't historically displayed seasonal behavior. Core Logic economist Caitlin Ezzi 92 00:04:34,600 --> 00:04:37,600 Speaker 2: says the recent easing in price growth is likely reflection 93 00:04:37,680 --> 00:04:41,440 Speaker 2: of lower consumer sentiment amidstubbornly high inflation and jumping the 94 00:04:41,520 --> 00:04:43,960 Speaker 2: numbers of properties up for sale in some regions. She 95 00:04:44,080 --> 00:04:46,880 Speaker 2: believes some potential buyers are holding off and delaying purchasing 96 00:04:46,920 --> 00:04:50,599 Speaker 2: decisions until the outlook for interest rates becomes clearer. Over 97 00:04:50,600 --> 00:04:53,039 Speaker 2: the four weeks the fourtinth of July, approximately one hundred 98 00:04:53,040 --> 00:04:56,360 Speaker 2: and thirty seven thousand properties were advertised for sale nationally, 99 00:04:56,839 --> 00:05:01,280 Speaker 2: around seventeen percent fewer listings than this time of year. 100 00:05:01,640 --> 00:05:04,400 Speaker 2: Mind you, it was about twenty three percent below average previously, 101 00:05:04,760 --> 00:05:06,320 Speaker 2: So that's improving somewhat. 102 00:05:06,760 --> 00:05:10,120 Speaker 1: Yeah, sure, well. Story number four, Donald Trump attended a 103 00:05:10,160 --> 00:05:12,920 Speaker 1: campaign rally over the weekend, the first since the assassination 104 00:05:13,000 --> 00:05:15,800 Speaker 1: attempt on his life, telling the crowd that he took 105 00:05:15,800 --> 00:05:17,000 Speaker 1: a bullet for democracy. 106 00:05:17,400 --> 00:05:19,800 Speaker 2: Yes, any sense of more civility in the campaign has 107 00:05:19,800 --> 00:05:22,360 Speaker 2: now gone, with mister Trump calling Joe Biden stupid and 108 00:05:22,440 --> 00:05:25,320 Speaker 2: Carmla Harris crazy. He again insisted that he won the 109 00:05:25,360 --> 00:05:27,760 Speaker 2: twenty twenty election and mocked the Democrats as they fight 110 00:05:27,800 --> 00:05:31,120 Speaker 2: over who's the best presidential candidate. Meanwhile, Joe Biden says 111 00:05:31,120 --> 00:05:33,400 Speaker 2: he'll remain in the White House race against Donald Trump, 112 00:05:33,760 --> 00:05:36,960 Speaker 2: even as big Democratic donors and a growing list of 113 00:05:37,000 --> 00:05:40,440 Speaker 2: politicians apply pressure on him to step aside. Not helping 114 00:05:40,440 --> 00:05:43,200 Speaker 2: the president is declining poll numbers, which of course reflect 115 00:05:43,240 --> 00:05:46,560 Speaker 2: concern over his age and mental acuity, while media reports 116 00:05:46,600 --> 00:05:50,280 Speaker 2: suggest mister Biden has become more open to considering all 117 00:05:50,360 --> 00:05:52,760 Speaker 2: his options, none of them really confirmed yet. 118 00:05:53,240 --> 00:05:55,279 Speaker 1: Okay, last one, Story number five. A bit of good 119 00:05:55,279 --> 00:05:58,559 Speaker 1: news here Sean an anti aging drug that could help 120 00:05:58,640 --> 00:06:01,799 Speaker 1: people live longer and healthier lives is on the horizon 121 00:06:02,240 --> 00:06:06,960 Speaker 1: after scientists extended lifespans in mammals by twenty five percent. 122 00:06:07,720 --> 00:06:10,599 Speaker 2: Yes, so, London's Imperial College discovered that switching off a 123 00:06:10,600 --> 00:06:14,599 Speaker 2: protein called interluken eleven prevented cancer, boosted vision and hearing, 124 00:06:14,640 --> 00:06:17,960 Speaker 2: and improved metabolism, lung health, and muscle function in middle 125 00:06:18,000 --> 00:06:22,360 Speaker 2: aged mice. It may even friend hair loss and graying. 126 00:06:22,440 --> 00:06:24,880 Speaker 2: According to a report in the Daily Telegraph of London, 127 00:06:25,000 --> 00:06:26,920 Speaker 2: the treated mice also lived for an average of one 128 00:06:26,960 --> 00:06:29,520 Speaker 2: hundred and fifty five weeks, compared with one hundred and 129 00:06:29,520 --> 00:06:32,560 Speaker 2: twenty weeks in untreated mice. The treated mice had stronger 130 00:06:32,600 --> 00:06:35,440 Speaker 2: muscles but a lung, skin, hearing, and vision than their 131 00:06:35,560 --> 00:06:38,440 Speaker 2: untreated counterparts, and were free out from the usual signs 132 00:06:38,440 --> 00:06:41,839 Speaker 2: of aging and frailty. Professor Stewart Cook from the Medical 133 00:06:41,880 --> 00:06:45,880 Speaker 2: Research Council Boratory of Medical Science at Imperial provided a 134 00:06:45,920 --> 00:06:48,080 Speaker 2: warning though, and I quote while these findings are only 135 00:06:48,120 --> 00:06:51,520 Speaker 2: in mice, it raises the tantilizing possibility that the drugs 136 00:06:51,600 --> 00:06:54,320 Speaker 2: could have a similar effect in elderly humans. 137 00:06:54,720 --> 00:06:56,680 Speaker 1: Still sounds like good news to me, Sean. There we 138 00:06:56,720 --> 00:06:58,760 Speaker 1: go the top five business stories in five minutes. 139 00:06:58,839 --> 00:07:00,480 Speaker 2: Thank you, Thank you, Michael. 140 00:07:00,720 --> 00:07:03,520 Speaker 1: It's Monday, the twenty second of July twenty twenty four. 141 00:07:03,680 --> 00:07:05,960 Speaker 1: Remember to hit follow on the podcast and if five 142 00:07:05,960 --> 00:07:08,119 Speaker 1: minutes isn't long enough. You can find our longer daily 143 00:07:08,160 --> 00:07:11,080 Speaker 1: show called Fear and Greed wherever you listen to podcasts. 144 00:07:11,160 --> 00:07:12,880 Speaker 1: That comes with a bunch of interviews and things as well. 145 00:07:12,920 --> 00:07:15,640 Speaker 1: Today's interview is a great one for investors. I'm Michael 146 00:07:15,640 --> 00:07:17,680 Speaker 1: Thompson and that was the past five business news by 147 00:07:17,720 --> 00:07:21,680 Speaker 1: Fear and Greed. Have a great day.