1 00:00:03,920 --> 00:00:07,360 Speaker 1: It's Tuesday, the eighteenth of November twenty twenty five. Welcome 2 00:00:07,360 --> 00:00:09,880 Speaker 1: to the Fast five Business News by Fear and Greed, 3 00:00:09,880 --> 00:00:11,760 Speaker 1: where we give you the top five business stories you 4 00:00:11,840 --> 00:00:14,120 Speaker 1: need to know in just five minutes. I'm Michael Thompson 5 00:00:14,160 --> 00:00:18,400 Speaker 1: and good morning Sean Aylmer. Good morning, Michael, Sean. Five stories, 6 00:00:18,520 --> 00:00:21,640 Speaker 1: five minutes. Let's go a story number one. Fear rather 7 00:00:21,720 --> 00:00:26,560 Speaker 1: than greed is gripping global markets, with cryptocurrencies tumbling, Wall 8 00:00:26,600 --> 00:00:30,600 Speaker 1: Street tech heavyweights mostly going backwards, and even Australia's two 9 00:00:30,600 --> 00:00:34,919 Speaker 1: biggest companies, the Commonwealth Bank and BHP, losing ground. Meanwhile, 10 00:00:34,960 --> 00:00:38,599 Speaker 1: safe haven investments like gold is surging again. In the parlance, 11 00:00:38,680 --> 00:00:40,680 Speaker 1: it is a risk off market. The main problem is 12 00:00:40,720 --> 00:00:43,440 Speaker 1: the lack of information. The US government shutdown means investors 13 00:00:43,440 --> 00:00:46,000 Speaker 1: are buying in the dark. Locally, the real possibility of 14 00:00:46,000 --> 00:00:47,920 Speaker 1: no more rate cuts. It's hurting the local market. 15 00:00:48,159 --> 00:00:52,919 Speaker 2: Crypto's first Bitcoin down thirty percent since it's high of 16 00:00:53,000 --> 00:00:55,800 Speaker 2: about six weeks ago, now back to where it was 17 00:00:55,840 --> 00:00:57,560 Speaker 2: at the beginning of the year. Locally, the S and 18 00:00:57,600 --> 00:01:01,320 Speaker 2: PA six two hundred is closing is trading to a 19 00:01:01,440 --> 00:01:04,680 Speaker 2: four month low, the biggest drag being Commonwealth Bank off 20 00:01:04,760 --> 00:01:07,960 Speaker 2: eight percent over the past month, But the biggest losers 21 00:01:08,040 --> 00:01:10,959 Speaker 2: really have been the tech stocks, with the All Technology 22 00:01:11,040 --> 00:01:14,240 Speaker 2: index on the ASEX of more than twelve percent of 23 00:01:14,360 --> 00:01:18,120 Speaker 2: the past month. Yesterday, market led as WISTE Global and 24 00:01:18,240 --> 00:01:20,640 Speaker 2: Zero both fell to fifty two week lows. Meanwhile, Gold 25 00:01:20,640 --> 00:01:23,839 Speaker 2: surging back above forty one hundred US dollars dollars an ounce. 26 00:01:23,880 --> 00:01:27,360 Speaker 2: Silver's back above fifty US dollars an ounce. People are 27 00:01:27,480 --> 00:01:28,399 Speaker 2: fleeing to safety. 28 00:01:29,200 --> 00:01:32,440 Speaker 1: We've spoken plaining about the banks, We've spoken plaining about commodities, 29 00:01:32,480 --> 00:01:35,440 Speaker 1: But why are tech stocks sean being sold off. 30 00:01:35,959 --> 00:01:38,160 Speaker 2: It comes down to evaluation and whether the excitement of 31 00:01:38,680 --> 00:01:41,520 Speaker 2: AI will end up in real earnings. Just a few 32 00:01:41,640 --> 00:01:44,800 Speaker 2: naysayers out there, they're kind of on the nose at 33 00:01:44,800 --> 00:01:46,920 Speaker 2: the moment some of the tech stocks. If you look 34 00:01:47,040 --> 00:01:49,400 Speaker 2: at a basket of tech and AIS stocks on Wall Street, 35 00:01:49,440 --> 00:01:51,720 Speaker 2: it's down about eight percent over the past two weeks. 36 00:01:51,920 --> 00:01:55,760 Speaker 2: But the winner is Apple. The reason is it hasn't 37 00:01:55,760 --> 00:01:58,680 Speaker 2: pushed into AI quite as hard as the other as 38 00:01:58,720 --> 00:02:02,640 Speaker 2: the others. So for example, Apple's capital expendite expected to 39 00:02:02,320 --> 00:02:07,360 Speaker 2: be about fourteen billion US dollars this fiscal year. Microsoft 40 00:02:07,560 --> 00:02:11,760 Speaker 2: big AI player ninety four billion Meta, a company half 41 00:02:11,800 --> 00:02:16,679 Speaker 2: Apple size but a big AI player seventy billion. Quite incredible, 42 00:02:16,720 --> 00:02:18,960 Speaker 2: that's all. According to Bloomberg, and a year dominated by 43 00:02:18,960 --> 00:02:23,240 Speaker 2: AI enthusiasm, Apple is the worst performer of the Magnificent seven. However, 44 00:02:23,480 --> 00:02:27,120 Speaker 2: the last month, Apple's up ten percent, Microsoft's flat Metas 45 00:02:27,160 --> 00:02:28,040 Speaker 2: down fourteen percent. 46 00:02:28,840 --> 00:02:32,720 Speaker 1: Understory number two. Now, Prime Minister Anthony Albanezi has dismissed 47 00:02:32,880 --> 00:02:37,079 Speaker 1: suggestions Australia could co host next year's COP climate summit 48 00:02:37,160 --> 00:02:41,000 Speaker 1: with Turkey. Roses reported yesterday that Turkey had made the offer, 49 00:02:41,040 --> 00:02:43,800 Speaker 1: but Albanzi said nap, not possible. That's right. 50 00:02:43,840 --> 00:02:45,519 Speaker 2: Short of a breakthrough in the next few days, neither 51 00:02:45,560 --> 00:02:48,639 Speaker 2: country will host COP thirty one next year. Elsewhere in politics, 52 00:02:48,680 --> 00:02:51,639 Speaker 2: you fall out from the AFR red Bridge pole that 53 00:02:51,840 --> 00:02:54,760 Speaker 2: shows support for One Nation hitting a record high, while 54 00:02:54,800 --> 00:02:59,000 Speaker 2: the Coalition tanks has added even more pressure on Susan Lee. 55 00:02:59,120 --> 00:03:02,400 Speaker 2: The poll revealed coalition's primary vote fell five percentage points 56 00:03:02,480 --> 00:03:05,800 Speaker 2: last month to its lowest ever rate of twenty four percent. 57 00:03:06,080 --> 00:03:09,520 Speaker 2: Support for One Nation was eighteen percent, not that much 58 00:03:09,560 --> 00:03:12,480 Speaker 2: of a gap there. Sitizenly support as preferred Prime Minister 59 00:03:12,520 --> 00:03:14,800 Speaker 2: has tanked to ten percent. Our Beneaz is at forty 60 00:03:14,840 --> 00:03:17,919 Speaker 2: percent on two party preferred basis, Labor is ahead fifty 61 00:03:17,960 --> 00:03:19,760 Speaker 2: six percent to forty four percent. 62 00:03:20,320 --> 00:03:24,360 Speaker 1: Story Number three, Australia's biggest energy companies support the federal 63 00:03:24,440 --> 00:03:28,080 Speaker 1: government's net zero target by twenty fifty and warned that 64 00:03:28,240 --> 00:03:31,919 Speaker 1: failing to support renewables will only send power bills higher. 65 00:03:32,240 --> 00:03:34,240 Speaker 2: Of course, that's very different to what the coalition is 66 00:03:34,320 --> 00:03:37,000 Speaker 2: arguing at the moment. The chief executives of more than 67 00:03:37,040 --> 00:03:40,360 Speaker 2: a dozen major electricity supplies, including AGL Origin Energy and 68 00:03:40,440 --> 00:03:43,440 Speaker 2: Energy Australia or members of the Australian Energy Council, said 69 00:03:43,440 --> 00:03:46,720 Speaker 2: shifting to a mostly renewable grid was the best way 70 00:03:46,720 --> 00:03:49,600 Speaker 2: to keep bills as low as possible. They stressed the 71 00:03:49,640 --> 00:03:53,560 Speaker 2: need for policy certainty and stability as Australia head towards 72 00:03:53,640 --> 00:03:57,240 Speaker 2: a tipping point. Right now, the energy transition is as 73 00:03:57,320 --> 00:04:01,560 Speaker 2: much about system security, they say, as missions reduction. Now 74 00:04:01,720 --> 00:04:04,720 Speaker 2: Qualfi power stations still supply more than half the nation's 75 00:04:04,760 --> 00:04:08,280 Speaker 2: electricity needs, but most of them are approaching the end 76 00:04:08,320 --> 00:04:10,800 Speaker 2: of their usable lives. They should all be retired in 77 00:04:10,840 --> 00:04:14,600 Speaker 2: the next ten years. The cheapest way is to bring 78 00:04:14,680 --> 00:04:18,840 Speaker 2: renewables online, although in the short term that will result 79 00:04:18,880 --> 00:04:19,719 Speaker 2: in higher prices. 80 00:04:20,960 --> 00:04:24,880 Speaker 1: Story number four Westpac bankers will be sent to country 81 00:04:24,960 --> 00:04:28,720 Speaker 1: towns to work from council offices or local libraries one 82 00:04:28,800 --> 00:04:31,080 Speaker 1: day each fortnite, and the bank's not going to close 83 00:04:31,120 --> 00:04:33,400 Speaker 1: any more rural branches until twenty thirty. 84 00:04:33,680 --> 00:04:36,480 Speaker 2: The moratorium is two and a half years longer than 85 00:04:36,520 --> 00:04:38,800 Speaker 2: the other major banks now. The decision was made ahead 86 00:04:38,839 --> 00:04:42,560 Speaker 2: of Westpac appearing before the House of Representatives Economic Committee 87 00:04:42,560 --> 00:04:45,200 Speaker 2: today and tomorrow. The federal government is considering whether a 88 00:04:45,279 --> 00:04:47,840 Speaker 2: levy funded by all banks should be created to support 89 00:04:47,839 --> 00:04:51,720 Speaker 2: the delivery of regional banking services, something Westpac opposers. The 90 00:04:51,760 --> 00:04:53,839 Speaker 2: federal government has also forced the major banks to not 91 00:04:53,880 --> 00:04:57,240 Speaker 2: close branches in the bush until mid twenty twenty seven. 92 00:04:57,279 --> 00:05:00,679 Speaker 2: Now Westpaker is extending that to twenty thirty, basically somewhere 93 00:05:00,720 --> 00:05:03,800 Speaker 2: between them and around twenty percent of rural branches have 94 00:05:03,920 --> 00:05:05,600 Speaker 2: closed over the past five years. 95 00:05:06,120 --> 00:05:09,920 Speaker 1: Last one. Story number five, Amazon, Timu and Sheen will 96 00:05:10,080 --> 00:05:14,040 Speaker 1: hold more than one third of Australia's online retail market 97 00:05:14,120 --> 00:05:16,640 Speaker 1: by next year, putting a lot of pressure on local 98 00:05:16,680 --> 00:05:17,920 Speaker 1: digital marketplaces. 99 00:05:18,080 --> 00:05:21,520 Speaker 2: That's according to investment bank Jardin, which forecasts three international 100 00:05:21,560 --> 00:05:24,120 Speaker 2: retailers will generate more than eighteen billion dollars worth of 101 00:05:24,160 --> 00:05:26,920 Speaker 2: sales locally in twenty twenty six. That's a thirty six 102 00:05:26,960 --> 00:05:30,880 Speaker 2: percent market share price. Conscious shoppers will be drawn to 103 00:05:30,920 --> 00:05:34,679 Speaker 2: the global players. According to the report, basically it says 104 00:05:34,720 --> 00:05:38,719 Speaker 2: that retailers need scale or niche differentiation to survive. It 105 00:05:38,800 --> 00:05:42,760 Speaker 2: nominates Cogan, big w Meyer and JB. Hi Fi as 106 00:05:42,920 --> 00:05:46,919 Speaker 2: being squeezed according to the analysis team, who has priced 107 00:05:46,920 --> 00:05:50,040 Speaker 2: its product between thirty and forty percent cheaper than Amazon, 108 00:05:50,880 --> 00:05:54,240 Speaker 2: thirty and seventy percent cheaper than similar items elsewhere. 109 00:05:54,920 --> 00:05:57,080 Speaker 1: All right, there we go the top five business stories 110 00:05:57,120 --> 00:05:59,840 Speaker 1: in five minutes. Thank you Sean, Thank you Michael. It 111 00:05:59,880 --> 00:06:03,000 Speaker 1: is Tuesday, the eighteenth of November twenty twenty five. Remember 112 00:06:03,040 --> 00:06:05,520 Speaker 1: to hit follow on the podcast, and if five minutes 113 00:06:05,560 --> 00:06:08,360 Speaker 1: isn't enough, you can find our longer daily show called 114 00:06:08,400 --> 00:06:11,320 Speaker 1: Fear and Greed wherever you listen to podcasts, and head 115 00:06:11,320 --> 00:06:13,800 Speaker 1: along to our website Fearangreed dot com dot au or 116 00:06:13,880 --> 00:06:15,480 Speaker 1: jump on to our show notes. There's a link in 117 00:06:15,520 --> 00:06:18,479 Speaker 1: the show notes to sign up for our free daily newsletter, 118 00:06:18,480 --> 00:06:21,120 Speaker 1: which is an excellent way to get ahead of the 119 00:06:21,120 --> 00:06:23,880 Speaker 1: competition and your colleagues as well. In your inbox every 120 00:06:23,880 --> 00:06:26,080 Speaker 1: morning by six am, I'm Michael Thompson and that was 121 00:06:26,120 --> 00:06:28,560 Speaker 1: the past five. Business News by Fear and Greed. Had 122 00:06:28,600 --> 00:06:29,720 Speaker 1: a great day.