1 00:00:03,880 --> 00:00:06,480 Speaker 1: It's Thursday, the twenty eighth of August twenty twenty five. 2 00:00:06,559 --> 00:00:09,160 Speaker 1: Welcome to the Fast five Business News by Fear and Greed, 3 00:00:09,200 --> 00:00:11,000 Speaker 1: where we give you the top five business stories you 4 00:00:11,039 --> 00:00:13,400 Speaker 1: need to know in just five minutes. Are Michael Thompson 5 00:00:13,400 --> 00:00:16,720 Speaker 1: and Good Morning Natalie McDonald. Good Morning Michael, Natalie. Five 6 00:00:16,760 --> 00:00:19,600 Speaker 1: big stories to race through in just five minutes. We'd 7 00:00:19,640 --> 00:00:22,160 Speaker 1: better get cracking with story number one. It's been labeled 8 00:00:22,200 --> 00:00:27,360 Speaker 1: an absolute shocker as Australia's inflation surged to two point 9 00:00:27,400 --> 00:00:30,080 Speaker 1: eight percent in July, which is the highest annual rate 10 00:00:30,440 --> 00:00:35,440 Speaker 1: since this time last year, fueled by rising housing costs, alcohol, 11 00:00:35,920 --> 00:00:39,400 Speaker 1: and significantly the end of state energy rebates. 12 00:00:39,760 --> 00:00:42,560 Speaker 2: The monthly CPI indicator rose as you said, two point 13 00:00:42,600 --> 00:00:46,360 Speaker 2: eight percent of July, according to the ABS that's released yesterday, 14 00:00:46,520 --> 00:00:49,040 Speaker 2: far higher than the roughly two point three percent that 15 00:00:49,200 --> 00:00:52,680 Speaker 2: had been expected. Key contributors included a three point six 16 00:00:52,720 --> 00:00:54,960 Speaker 2: percent increase in housing, a six and a half percent 17 00:00:55,040 --> 00:00:57,920 Speaker 2: rise in alcohol and tobacco, and a thirteen percent spike 18 00:00:58,000 --> 00:01:01,080 Speaker 2: in energy costs. The trimmed me which is the RBA's 19 00:01:01,120 --> 00:01:04,320 Speaker 2: preferred measure, rose to two point seven percent, while CPI 20 00:01:04,520 --> 00:01:07,920 Speaker 2: excluding volatile items and holiday travel climbed to three point 21 00:01:07,920 --> 00:01:08,440 Speaker 2: two percent. 22 00:01:08,840 --> 00:01:10,920 Speaker 1: Okay, really, what we all want to know is what 23 00:01:11,040 --> 00:01:14,280 Speaker 1: does this mean for interest rates? The spike has dented 24 00:01:14,440 --> 00:01:18,680 Speaker 1: expectations of back to back right cuts following the Reserve 25 00:01:18,680 --> 00:01:21,160 Speaker 1: banks twenty five basis point reduction to three point six 26 00:01:21,319 --> 00:01:25,080 Speaker 1: percent earlier this month. What are analysts saying? When are 27 00:01:25,080 --> 00:01:26,280 Speaker 1: we going to get? When are we going to see 28 00:01:26,319 --> 00:01:26,760 Speaker 1: another cut? 29 00:01:27,360 --> 00:01:31,040 Speaker 2: Market observers note that while another cut is still possible 30 00:01:31,240 --> 00:01:36,200 Speaker 2: by November, expectations for a September reduction have diminished. Economist 31 00:01:36,200 --> 00:01:39,800 Speaker 2: stress that one monthly reading doesn't determine policy. In fact, 32 00:01:39,840 --> 00:01:43,080 Speaker 2: Treasurer Jim charm is also attempting to hose down concerns 33 00:01:43,120 --> 00:01:46,160 Speaker 2: by flagging that the jump was partly driven by volatile 34 00:01:46,200 --> 00:01:50,200 Speaker 2: one off factors and urging caution in interpreting monthly figures. 35 00:01:50,520 --> 00:01:54,560 Speaker 2: But yesterday's report definitely highlights ongoing challenges in controlling inflation 36 00:01:54,840 --> 00:01:58,160 Speaker 2: when we're in a situation of rising housing and living costs. 37 00:01:58,400 --> 00:02:01,320 Speaker 1: Okay, moving on to story number two, and Woolworth's chief 38 00:02:01,360 --> 00:02:05,080 Speaker 1: executive Amanda Bardwell, has refused to be drawn on speculation 39 00:02:05,160 --> 00:02:08,200 Speaker 1: that the group is ready to spin off struggling Big 40 00:02:08,360 --> 00:02:12,840 Speaker 1: w after Australia's biggest supermarket chain reported a seventeen percent 41 00:02:13,000 --> 00:02:14,800 Speaker 1: plunge in full year profits. 42 00:02:15,360 --> 00:02:19,200 Speaker 2: Strikes, supply chain issues and Big W's continued losses weighed 43 00:02:19,320 --> 00:02:22,640 Speaker 2: heavily on wilworsts as it loses ground to supermarket rival 44 00:02:22,680 --> 00:02:26,359 Speaker 2: Coals after what has been years of market dominance. Profit 45 00:02:26,440 --> 00:02:29,840 Speaker 2: margins shrank as Wolworth absorbed rising supplier costs rather than 46 00:02:29,880 --> 00:02:33,680 Speaker 2: passing them on to customers who increasingly chose cheaper brands. 47 00:02:33,760 --> 00:02:37,440 Speaker 2: Tobacco sales fell thirty percent and own brand growth lagged 48 00:02:37,480 --> 00:02:41,239 Speaker 2: behind Coals as well. Now onto Big W. It recorded 49 00:02:41,280 --> 00:02:44,440 Speaker 2: a thirty five million dollar loss, prompting Wilworst to move 50 00:02:44,480 --> 00:02:48,480 Speaker 2: the chain to a separate technology platform, fueling speculation of 51 00:02:48,480 --> 00:02:52,080 Speaker 2: a possible spin off, which Bardwell didn't answer directly, instead 52 00:02:52,160 --> 00:02:56,320 Speaker 2: noting that Big W's performance was quote very disappointing. Shares 53 00:02:56,320 --> 00:03:00,000 Speaker 2: in Wilworth's falling fifteen percent to twenty eight dollars fifty one. 54 00:03:00,040 --> 00:03:03,560 Speaker 1: R Number three Domino's Pizza will scrap discounts and vouchers 55 00:03:03,600 --> 00:03:07,560 Speaker 1: in favor of the abunning style, every day low prices model, 56 00:03:07,600 --> 00:03:10,320 Speaker 1: as the chain seeks to reverse sliding sales that led 57 00:03:10,360 --> 00:03:12,679 Speaker 1: to its first annual loss in two decades. 58 00:03:13,200 --> 00:03:16,600 Speaker 2: Executive chair Jack Cowen said customers have become confused by 59 00:03:16,639 --> 00:03:19,240 Speaker 2: constant deals, only buying at heavy discounts, and we've got 60 00:03:19,240 --> 00:03:21,680 Speaker 2: some great quotes here saying you don't know what the 61 00:03:21,720 --> 00:03:23,640 Speaker 2: hell you're going to get, and that one of the 62 00:03:23,639 --> 00:03:26,960 Speaker 2: problems is people getting clarity about what is a good deal. 63 00:03:27,200 --> 00:03:30,240 Speaker 2: It's fifty percent off of what The group posted a 64 00:03:30,240 --> 00:03:33,239 Speaker 2: three point seven million dollar loss after one hundred and 65 00:03:33,240 --> 00:03:36,280 Speaker 2: twenty one million dollars in restructuring costs and three hundred 66 00:03:36,320 --> 00:03:40,120 Speaker 2: and twelve store closures, those mostly in Japan, Shares falling 67 00:03:40,120 --> 00:03:42,080 Speaker 2: twenty two percent to fifteen dollars. 68 00:03:41,880 --> 00:03:44,880 Speaker 1: Ten sorry number four. Spring could deliver one of these 69 00:03:44,920 --> 00:03:48,960 Speaker 1: strongest property seasons in years, driven by recent interest rate cuts, 70 00:03:49,320 --> 00:03:51,600 Speaker 1: rising by a confidence and greater spending power. 71 00:03:51,880 --> 00:03:55,560 Speaker 2: New domain analysis reveals conditions are aligning for what's been 72 00:03:55,560 --> 00:03:58,680 Speaker 2: described as a supercharged selling season and one of the 73 00:03:58,680 --> 00:04:02,640 Speaker 2: most significant rebounds in years now. Historically, houses sell for 74 00:04:02,680 --> 00:04:05,720 Speaker 2: a two point six percent premium in spring compared to winter. 75 00:04:06,000 --> 00:04:09,040 Speaker 2: A momentum is already building. If we look at July 76 00:04:09,120 --> 00:04:11,520 Speaker 2: clearance rates, they hit their highest level in a decade, 77 00:04:11,600 --> 00:04:16,440 Speaker 2: led by Sydney and Melbourne, both surpassing last Springs results. Nationally, 78 00:04:16,480 --> 00:04:19,359 Speaker 2: house prizes have risen nine point two percent between January 79 00:04:19,400 --> 00:04:22,200 Speaker 2: and July. That's the third fastest pace for this period 80 00:04:22,360 --> 00:04:23,520 Speaker 2: in the past decade. 81 00:04:23,720 --> 00:04:25,640 Speaker 1: Just a quick one to finish up story number five. 82 00:04:25,720 --> 00:04:29,520 Speaker 1: Nearly half of Australian professionals say learning to use AI 83 00:04:29,960 --> 00:04:32,520 Speaker 1: feels like a second job, and this mounting pressure is 84 00:04:32,600 --> 00:04:35,279 Speaker 1: leaving many feeling embarrassed and anxious about their skills. This 85 00:04:35,320 --> 00:04:37,000 Speaker 1: is according to new research by LinkedIn. 86 00:04:37,440 --> 00:04:40,160 Speaker 2: More than a third of Australians feel overwhelmed by how 87 00:04:40,240 --> 00:04:43,320 Speaker 2: quickly they're expected to master AI, and twenty eight percent 88 00:04:43,360 --> 00:04:46,000 Speaker 2: have admitted they're actually embarrassed by how little they know. 89 00:04:46,560 --> 00:04:49,440 Speaker 2: The research found that younger professionals are feeling the mental 90 00:04:49,440 --> 00:04:52,800 Speaker 2: toll of upskilling the most. Gen z and millennials are 91 00:04:52,880 --> 00:04:56,160 Speaker 2: nearly twice as likely as older workers to exaggerate their 92 00:04:56,200 --> 00:04:59,040 Speaker 2: AI skills at work, but in a plus one for 93 00:04:59,200 --> 00:05:02,799 Speaker 2: the humans, ninety one percent of executives believe human judgment 94 00:05:02,880 --> 00:05:06,560 Speaker 2: remains essential to business. The research also showing that professionals 95 00:05:06,600 --> 00:05:09,400 Speaker 2: are turning to their colleagues and mentors and their networks 96 00:05:09,440 --> 00:05:12,240 Speaker 2: when making important decisions. Like asking for a pay rise 97 00:05:12,320 --> 00:05:13,440 Speaker 2: or swapping industries. 98 00:05:13,800 --> 00:05:15,680 Speaker 1: All right, there we go, the top five business stories 99 00:05:15,680 --> 00:05:18,000 Speaker 1: in five minutes. Thank you Natalie, Thank you Michael. It 100 00:05:18,120 --> 00:05:20,839 Speaker 1: is Thursday, the twenty eighth of August twenty twenty five, 101 00:05:20,880 --> 00:05:23,159 Speaker 1: remembered hit follow on the podcast any five minutes just 102 00:05:23,200 --> 00:05:25,520 Speaker 1: isn't enough. You can find our longer daily show called 103 00:05:25,560 --> 00:05:28,840 Speaker 1: Fear and Greed wherever you listen to podcasts. I'm Michael Thompson. 104 00:05:28,839 --> 00:05:30,680 Speaker 1: And there was the fast five business news by Fear 105 00:05:30,680 --> 00:05:32,000 Speaker 1: and Grade. Have a great day.