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Speaker 1: It's Thursday, the twenty sixth of June twenty twenty five.

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Speaker 1: Welcome 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. Are Michael Thompson

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Speaker 1: and Good morning, Sean Aylmer.

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Speaker 2: Good morning, Michael, Seawan.

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Speaker 1: Five stories, five minutes, Let's go Story number one. Inflation

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Speaker 1: has fallen to the bottom of the Reserve Bank's target band,

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Speaker 1: increasing the chance of an interest rate cut in two

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Speaker 1: weeks time when the Reserve Bank Board meets.

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Speaker 2: A monthly CPI indicated a rose by just two point

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Speaker 2: one percent of the year to the end of May.

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Speaker 2: The underlying or trimmed mean measure came in at two

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Speaker 2: point four percent of the lowest number since late twenty

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Speaker 2: twenty one. With both headline and underlying rates now at

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Speaker 2: the bottom of the Reserve banks two to three percent target,

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Speaker 2: financial markets are pricing in a rate cut on eight July,

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Speaker 2: after the next Central Bank meeting. In May, the biggest

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Speaker 2: rises in annual inflation were concentrated in food. Egg prices,

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Speaker 2: for example, jump nineteen percent. Very importantly, services inflation, which

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Speaker 2: has been hard to get down. Well, it's falling. For example,

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Speaker 2: insurance inflation at three point nine percent is the lowest

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Speaker 2: in three years. Fuel and electricity experienced deflation during the

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Speaker 2: past year, prices went backwards. The other big one, housing

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Speaker 2: counts for about twenty percent of the inflation basket, being

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Speaker 2: one of the major drivers of inflation. Looking much much

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Speaker 2: better now, Federal Treasury Jim Chalmers that the data was

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Speaker 2: very encouraging.

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Speaker 1: Sean, I want you to tell me there's going to

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Speaker 1: be a rate cut in two weeks time, but you're

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Speaker 1: always far too measured for that.

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Speaker 2: Well, all economics is known as the dismal science for

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Speaker 2: a reason. With all the good news, there's always bad news.

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Speaker 2: In this case, it's a monthly number, not a quarterly figure,

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Speaker 2: so maybe it doesn't tell the full story. But with

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Speaker 2: inflation now at its lowest rate in almost four years,

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Speaker 2: cooling housing costs, and service inflation moderating, alongside comments from

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Speaker 2: the Reserve Bank Governor Michelle Bullock last month that she's

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Speaker 2: willing to lower again if inflation precious remains subdued, I

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Speaker 2: reckon a cut is likely next month. Michael Okay.

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Speaker 1: Moving on to story number two now, Sean and new

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Speaker 1: Liberal Party leader Susan Lee wants to rebuild her past

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Speaker 1: under the theme of aspiration, conceding that the Liberals were

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Speaker 1: smashed at the May election.

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Speaker 2: Ms Lee gave her first address to the National Press

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Speaker 2: Club as party leader yesterday and says her mission is

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Speaker 2: to rebuild the party so it offers a viable alternative

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Speaker 2: at the next election. She concedes that the Liberal Party

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Speaker 2: does not reflect modern Australia and getting more female members

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Speaker 2: into parliament. Parliament is critical. She's agnosticated to achieve that.

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Speaker 2: She just wants it done. Lee also says that the

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Speaker 2: Liberal Party will have an agenda that delivers for voters

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Speaker 2: in TL seeds. She added she's against raising the GST,

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Speaker 2: something I think we're going to hear a bit about

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Speaker 2: during this Parliament.

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Speaker 1: Story number three, accounting software group Zero is buying a

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Speaker 1: Silicon Valley startup called Melio Payments for a three point

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Speaker 1: nine billion dollars, betting its future on global expansion.

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Speaker 2: Melio makes accounting and payment software for small and medium

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Speaker 2: businesses and their bookkeepers. The deal is the first major

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Speaker 2: acquisition by Zero chief executives to Kinda SINGINGH. Cassidy since

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Speaker 2: she took the job in February twenty twenty three. She

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Speaker 2: said the deal will help the company grow in the US,

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Speaker 2: where it really struggled to gain market chair against its

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Speaker 2: larger rival into It. Melio has eighty thousand customers in

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Speaker 2: the US already. Now Zero was a market darling. It

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Speaker 2: fell out of favor, but over the past two and

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Speaker 2: a half years that share price is up one hundred

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Speaker 2: and seventy five percent as it refocused on profitable growth.

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Speaker 2: This deal is a big bet on the US market,

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Speaker 2: a market Zero hasn't yet cracked. Analysts said the price

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Speaker 2: being paid is high. We didn't get a read from

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Speaker 2: the group's share price because the stock was suspended yesterday.

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Speaker 2: It will be very interesting to see what happens when

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Speaker 2: it starts trading again.

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Speaker 1: Story number four. US President Donald Trump claims that the

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Speaker 1: US's bombing campaign obliterated Around's ability to create nuclear weapons,

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Speaker 1: though other observers say it's more likely to have just

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Speaker 1: delayed production by a few months.

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Speaker 2: Pentagon intelligence assessment reports leaked to the media, so the

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Speaker 2: weekend's attacked by the US only delayed Tehran's nuclear program,

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Speaker 2: it didn't obliterate it. Trump and the White House hit back,

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Speaker 2: saying well, calling it fake news. Haven't heard that one

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Speaker 2: for a while. White House Press Secretary car leavitt on

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Speaker 2: X said that the alleged assessment had been leaked by

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Speaker 2: an I quote an anonymous low level loser in the

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Speaker 2: intelligence community end quote.

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Speaker 1: She sounds a bit like a boss, doesn't she?

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Speaker 2: She does?

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Speaker 1: Last one story number five story. Look, it doesn't have

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Speaker 1: a huge amount to do with business, except for the

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Speaker 1: fact that it does involve a business well tycoon. A

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Speaker 1: celebrity wedding party for Amazon founder Jeff Bezos and journalist

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Speaker 1: Laurence Sanchez in Venice this week has been moved to

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Speaker 1: an isolated, less accessible part of the city on security

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Speaker 1: concerns and to prevent the risk of protests.

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Speaker 2: Cibillionaire tech tycoon and his fiance had to e marked

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Speaker 2: location at a popular and central nightlife area to celebrate

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Speaker 2: after their marriage. Now that triggered weeks of demonstrations and

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Speaker 2: public anger over Bezos's plan to turn a public space

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Speaker 2: in Venice pretty much into a private area. Between two

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Speaker 2: hundred and two hundred and fifty VIP guests from show business,

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Speaker 2: politics and finance will now head to a hall of

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Speaker 2: the Arsenal, a last fourteenth century complex in the eastern

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Speaker 2: Castillo district now. The wedding's expected to take place between

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Speaker 2: today and Sunday Australian time. The new location is surrounded

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Speaker 2: by water, impossible to reach once connecting bridges are raised.

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Speaker 2: Routers estimates the cost of the wedding well ninety to

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Speaker 2: one hundred million AUZZY. There'll be ninety private jets arriving,

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Speaker 2: and five of the city's most luxurious hotels have been

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Speaker 2: booked out to host the two hundred and two fifty guests.

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Speaker 2: Sounds subtle, understated.

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Speaker 1: There we go the top five business stories in five minutes.

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Speaker 1: Thank you Sean, Thank you Michael. It is Thursday, the

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Speaker 1: twenty sixth of June twenty twenty five. Remember to hit

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

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Speaker 1: you can find our longer daily show called Fear and

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Speaker 1: Greed wherever you listen to podcasts. I'm Michael Thompson and

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Speaker 1: that was the fast five business news by Fear and Greed.

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Speaker 2: Have a great day.