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Speaker 1: It's Monday, the twenty sixth of May 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.

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Speaker 2: Sean Aylmer, Good morning, Michael Sawan.

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Speaker 1: Five massive stories to start the week. Let's get going

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Speaker 1: a story. Number one. Trump and nomics is playing havoc

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Speaker 1: and financial markets. Over the past three days, pronouncements by

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Speaker 1: the US president have sent the Aussie dollar back to

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Speaker 1: sixty five US cents, rattled equity markets, and also pushed

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Speaker 1: local uranium miners sharply higher.

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Speaker 2: Over the weekend, Donald Trump said he'd recommend a fifty

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Speaker 2: percent tariff on imports from Europe's starting next week. Even

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Speaker 2: though we don't know what's what he says is necessarily

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Speaker 2: going to happen, it was enough to spook investors. The

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Speaker 2: US dollar is still the reserve currency, it's still the

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Speaker 2: world number one economy, but Trump's antics are making investors

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Speaker 2: look elsewhere. Trump wants to deal with the EU and

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Speaker 2: is frustrated by a lack of progress. That triggered his threat,

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Speaker 2: along with the warning that Apple's foreign made iPhones good

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Speaker 2: big levies. Investors are worried about that they're pulling out

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Speaker 2: of the US. As a result, currencies like the aud

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Speaker 2: are benefiting. The Aussie hit of six hit sixty four

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Speaker 2: point nine to nine US cents out of the weekend,

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Speaker 2: just below last month's high. The threats from Trump also

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Speaker 2: hit equity markets. The three major US industries A Dow, Jones,

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Speaker 2: the broad based SMP five hundred, techv NASDAK call dropped

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Speaker 2: futures training suggests the local market will open lower as well.

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Speaker 1: Sean, just quickly, I mentioned the local uranium stocks. What's

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Speaker 1: the story there?

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Speaker 2: They rallied on Friday following a report. So let's say

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Speaker 2: that a rumor that US President Donald Trump intended to

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Speaker 2: sign an executive order to boost the US's nuclear capacity

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Speaker 2: and wind back dependence on China and Russia for enriched

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Speaker 2: uranium over the weekend. He signed it, and he directed

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Speaker 2: the nation's Independent Nuclear Regulator Commission to cut down on

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Speaker 2: regulations and fast track new licenses for reactors and power plants. Locally,

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Speaker 2: on the rumor is like Paladin and Energy Boss, Energy

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Speaker 2: Deep Yellow surged today. They're going to have to trade

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Speaker 2: on the fact, so it'll be interesting to see what happens.

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Speaker 1: Okay, Moving on to story number two, a big weekend

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Speaker 1: for the auction market, twenty five hundred properties up for

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Speaker 1: sale just days after the Reserve Bank cut interest rates,

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Speaker 1: and sean it didn't disappoint.

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Speaker 2: The preliminary clearance rate was a bit over seventy one percent,

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Speaker 2: second highest so the year. This is just a few

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Speaker 2: weeks after close to the lowest preliminary clearance rate of

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Speaker 2: the year, so it just shows how important interest rates

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Speaker 2: are to the market. In fact, the only time the

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Speaker 2: rate was higher this year was immediately after the February

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Speaker 2: rate cut. Melbourne had most auctions came in at seventy

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Speaker 2: four percent. That's pretty impressive. Median house price in Melbourne's

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Speaker 2: just over one million dollars now. Sydney's preliminary clearance rate

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Speaker 2: jumped from sixty five percent to seventy two percent, massive rise.

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Speaker 2: The median house price in that city is now just

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Speaker 2: under two million dollars. Adelaide was the best of these

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Speaker 2: smaller capital cities. Brisbane perhaps a little subdued.

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Speaker 1: Story number three market leader wise tech Global is expected

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Speaker 1: to announce the acquisition of American software firm E two

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Speaker 1: open for four billion dollars this week.

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Speaker 2: The AFR is reporting at terms around the funding of

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Speaker 2: the deal wrapped up over the weekend. Wis Tech has

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Speaker 2: confirmed it is looking at a major acquisition, though it

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Speaker 2: hasn't confirmed this one. E to Open has developed a

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Speaker 2: platform known as Harmony that brings together different systems that

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Speaker 2: let organizations many supply manage supply chains. A successful deal

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Speaker 2: would be wise Tech's biggest yet. The ax List Software

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Speaker 2: group has not had a good run, with its share

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Speaker 2: price down nineteen percent this year. It's been under fire

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Speaker 2: after co founder Richard White misled the firm's board about

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Speaker 2: the nature of his personal relationships. Independent directors quit the company.

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Speaker 2: The Corp Watchdog is holding a formal inquiry into share

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Speaker 2: training in the group's market disclosures. However, some good news

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Speaker 2: for wise tech shareholders.

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Speaker 1: Indeed, story number four one from Politics Sean National's leader

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Speaker 1: David little Proud says he has received assurances from the

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Speaker 1: Liberal Party that they are now had to accept four

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Speaker 1: policy areas that the Nationals insist must be part of

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Speaker 1: any coalition deal.

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Speaker 2: Little Proud told Sky News yesterday that he expects to

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Speaker 2: meet up with Liberals leader Susan Lee in coming days

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Speaker 2: to sort out the coalition. Now, the drama has triggered

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Speaker 2: speculation that Little Prowd might be challenged from within his

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Speaker 2: own party. Yesterday he said he was relaxed about that.

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Speaker 2: The rumors are that former leaders Barnaby Joyce Michael McCormack

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Speaker 2: are working together to out mister Little Proud. Meanwhile, sus

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Speaker 2: And Lee's under fire internally. Ahead of naming her shadow cabinet.

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Speaker 2: The rumor is Angus Taylor, her challenger for the top job,

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Speaker 2: will be demoted from Treasury to Energy. The conservators within

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Speaker 2: the Liberal Party aren't happy about that.

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Speaker 1: Last one. Story number five, Rio Tinto CEO Jacob stoush

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Speaker 1: Home was forced to step down from the mining giant

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Speaker 1: amidstrained relations with company chair Dominic Barton. According to media reports.

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Speaker 2: The Danish born stouse Home, who has run Rio since

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Speaker 2: January twenty tree one, was forced out. It's not really

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Speaker 2: key why. The finn Reviews says the board once executive

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Speaker 2: focused to be more on the technical tasks of mining

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Speaker 2: and manufacturing rather than the stakeholder relations in reputation repair

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Speaker 2: that consumed so much of Southholm's tenure. Southholm himself is

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Speaker 2: an accountant, not a mining engineer. He took on the

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Speaker 2: job after his predecessor was forced out after Rio blew

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Speaker 2: up the Yuka Gorge in Western Australia. It contained sixty

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Speaker 2: thousand year old indigenous paintings. Anyway, that we will hear

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Speaker 2: more on this story because we're just not quite sure

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Speaker 2: what went on behind closed doors.

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Speaker 1: All right, there we go to the top five business

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Speaker 1: stories in five minutes. Thank you very much, Sean.

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Speaker 2: Thank you, Michael.

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Speaker 1: It is Monday, the twenty sixth of May twenty twenty five.

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Speaker 1: Don't know why I sound surprised by that. Remember hit

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Speaker 1: follow on the podcast and in 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 by Business News by Fear and Greed.

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Speaker 1: Have a great date.