1 00:00:04,160 --> 00:00:06,560 Speaker 1: Welcome to the weekend edition of the Fast Five Business 2 00:00:06,600 --> 00:00:09,360 Speaker 1: News by Fear and Greed. I'm Adam Lang and Hello 3 00:00:09,440 --> 00:00:10,160 Speaker 1: Sean Ailmer. 4 00:00:10,320 --> 00:00:11,360 Speaker 2: Hello Adam Sean. 5 00:00:11,440 --> 00:00:13,680 Speaker 1: On weekdays, it's all about the Fast five, the top 6 00:00:13,720 --> 00:00:16,360 Speaker 1: five business stories in just five minutes. On the weekend though, 7 00:00:16,680 --> 00:00:18,239 Speaker 1: we're going to keep it to five minutes. But we 8 00:00:18,280 --> 00:00:19,960 Speaker 1: are going to pick the biggest story of the week, 9 00:00:20,000 --> 00:00:23,200 Speaker 1: the most remarkable story of the week, a business story 10 00:00:23,200 --> 00:00:26,320 Speaker 1: from the Ancients category this week, and our favorite business 11 00:00:26,400 --> 00:00:28,200 Speaker 1: news story of the week. So let's get into it. 12 00:00:28,440 --> 00:00:29,280 Speaker 1: May I go first? 13 00:00:29,320 --> 00:00:30,720 Speaker 2: Please? Biggest story of the week, Adam? 14 00:00:31,000 --> 00:00:33,400 Speaker 1: All right for me, The Reserve Bank of Australia's decision 15 00:00:33,400 --> 00:00:35,480 Speaker 1: to hold the cash rate at three point eighty five 16 00:00:35,520 --> 00:00:38,199 Speaker 1: percent is the biggest business story of the week. This 17 00:00:38,320 --> 00:00:41,400 Speaker 1: moves surprise markets and caused query of the Reserve Bank's 18 00:00:41,400 --> 00:00:45,120 Speaker 1: communication style, with Governor Michelle Bullock facing scrutiny at a 19 00:00:45,159 --> 00:00:47,680 Speaker 1: media conference over the lack of guidance in the lead up. 20 00:00:47,920 --> 00:00:50,960 Speaker 1: The RBA governor conceded the obvious here under the new regime, 21 00:00:51,120 --> 00:00:55,880 Speaker 1: she cannot preempt the board's decisions or guide expectations between meetings. Now, 22 00:00:55,920 --> 00:00:58,640 Speaker 1: the next key test comes with a June quarter inflation 23 00:00:58,720 --> 00:01:01,480 Speaker 1: data on thirty July, but for now the Reserve Bank 24 00:01:01,560 --> 00:01:03,720 Speaker 1: is holding its nerve. It was big news with a 25 00:01:04,000 --> 00:01:06,520 Speaker 1: twist and a dash of salt, and that's why this 26 00:01:06,640 --> 00:01:09,200 Speaker 1: is my biggest business story of the week. Sean, what's yours? 27 00:01:09,280 --> 00:01:10,760 Speaker 2: I think the other big story of the week was 28 00:01:10,800 --> 00:01:13,399 Speaker 2: Tariff's began with a fifty percent tariff from Donald Trump 29 00:01:13,480 --> 00:01:16,560 Speaker 2: on copper, hitting local miners including BHP and rare. The 30 00:01:16,560 --> 00:01:18,320 Speaker 2: good news is that those to actually have a JV 31 00:01:18,400 --> 00:01:20,920 Speaker 2: in the US called Resolution Copper, they might actually end 32 00:01:20,959 --> 00:01:23,400 Speaker 2: up being winners on that. Then Trump came out threatened 33 00:01:23,400 --> 00:01:27,000 Speaker 2: two hundred percent tariffs on pharmaceuticals That hit CSL. A 34 00:01:27,040 --> 00:01:30,119 Speaker 2: bit tricky for our government because the pharmaceutical benefits scheme 35 00:01:30,240 --> 00:01:33,440 Speaker 2: here subsidizes medicines. It's something Donald Trump could pick on. 36 00:01:33,760 --> 00:01:36,240 Speaker 2: Donald Trump then hit Brazil with fifty percent tariffs. Previously 37 00:01:36,280 --> 00:01:38,600 Speaker 2: they were ten percent, like Australia something, they're fifty percent. 38 00:01:38,800 --> 00:01:41,199 Speaker 2: That had more to do with former leader and Trump 39 00:01:41,280 --> 00:01:45,120 Speaker 2: ally Ja Bolsonaro and how the Latin American country is 40 00:01:45,120 --> 00:01:48,680 Speaker 2: trading big tech yet again another lesson for Australia. He 41 00:01:48,760 --> 00:01:52,800 Speaker 2: whacked tariffs on Japan South koream Me and Mark Canada. 42 00:01:52,880 --> 00:01:54,840 Speaker 2: In fact, he suggested there might be a blanket fifteen 43 00:01:54,880 --> 00:01:58,920 Speaker 2: to twenty percent tariff which would capture Australia. Slightly concerning 44 00:01:59,440 --> 00:02:01,040 Speaker 2: Let's go to the remarkable story, and I think we 45 00:02:01,080 --> 00:02:02,120 Speaker 2: both agree on this one. 46 00:02:02,360 --> 00:02:03,880 Speaker 1: What was the most remarkable story of the week. 47 00:02:03,920 --> 00:02:06,360 Speaker 2: Well, it's asset prices. Wall Street hit a new record, 48 00:02:06,520 --> 00:02:09,079 Speaker 2: the local market is near a new record, Europe's near 49 00:02:09,080 --> 00:02:11,960 Speaker 2: a new record. Nicky's near Well, Nick's not actually, but 50 00:02:12,360 --> 00:02:15,040 Speaker 2: other Asian markets are close to records. I want to 51 00:02:15,080 --> 00:02:19,160 Speaker 2: tell this story. In three assets. Nvidia four trillion US dollars, 52 00:02:19,240 --> 00:02:22,440 Speaker 2: first time any companies ever hit that level. Quite phenomenal, 53 00:02:22,680 --> 00:02:25,280 Speaker 2: worth more than twice as much as all the ASEX 54 00:02:25,280 --> 00:02:29,760 Speaker 2: two hundred market values combined. Second one Bitcoin it hit 55 00:02:29,960 --> 00:02:31,919 Speaker 2: a new record of over one hundred and sixteen thousand 56 00:02:32,040 --> 00:02:34,840 Speaker 2: US dollars unit. It's a risk asset. So I mean, 57 00:02:34,919 --> 00:02:37,639 Speaker 2: what world does that make sense? That's remarkable. I bet 58 00:02:37,680 --> 00:02:40,000 Speaker 2: Australia in a third, which is local stock Promedicus up 59 00:02:40,040 --> 00:02:42,359 Speaker 2: one hundred and forty percent of the last year, basically 60 00:02:42,360 --> 00:02:44,760 Speaker 2: brings X rays into the twenty first century, particularly the 61 00:02:44,760 --> 00:02:47,880 Speaker 2: transmission of them and ability to use them for diagnoses. 62 00:02:48,120 --> 00:02:50,840 Speaker 2: Now our top twenty stock bigger than Santos Cole's aria, 63 00:02:50,919 --> 00:02:53,880 Speaker 2: twice the size of Quantus. Remarkable what asset prices are doing. 64 00:02:54,080 --> 00:02:57,480 Speaker 1: It is now our favorite ancient business story of the week, Sean. 65 00:02:57,560 --> 00:03:01,600 Speaker 1: For me, mine is Pinico, three thousand, five hundred year 66 00:03:01,600 --> 00:03:04,400 Speaker 1: old city, just discovered in northern Peru. Now it's about 67 00:03:04,400 --> 00:03:06,920 Speaker 1: two hundred kilmeters north of Lima. It's believed to have 68 00:03:06,960 --> 00:03:09,600 Speaker 1: been a major trading hub linking the Pacific coast, the 69 00:03:09,639 --> 00:03:14,320 Speaker 1: Andes and Amazon communities. Excavations over eight years have uncovered 70 00:03:14,360 --> 00:03:18,680 Speaker 1: eighteen structures, including temples and residences. There's clay sculptures, beat 71 00:03:18,720 --> 00:03:22,680 Speaker 1: a jury and animal figurines, ancient trade routes, religious centers, 72 00:03:22,680 --> 00:03:25,200 Speaker 1: cultural exchange, and a market economy that dates back over 73 00:03:25,280 --> 00:03:28,000 Speaker 1: three thousand, five hundred years. That's why it's my favorite 74 00:03:28,040 --> 00:03:29,239 Speaker 1: ancient business story of the week. 75 00:03:29,280 --> 00:03:31,680 Speaker 2: What's yours? My favorite ancient business story is the fact 76 00:03:31,800 --> 00:03:34,720 Speaker 2: that the bay U Tapestry, a masterpiece that depicts the 77 00:03:34,760 --> 00:03:37,920 Speaker 2: Norman conquest of England in ten sixty six, will return 78 00:03:38,000 --> 00:03:40,320 Speaker 2: to Britain for the first time in about nine hundred 79 00:03:40,320 --> 00:03:42,320 Speaker 2: and fifty years. It's going to be hung at the 80 00:03:42,360 --> 00:03:46,640 Speaker 2: British Museum. We had President Emmanuel mccrona of France visiting 81 00:03:46,720 --> 00:03:50,120 Speaker 2: Kirstarma and the UK. He made the offer. The roughly 82 00:03:50,160 --> 00:03:52,880 Speaker 2: seventy meter long art work, which was made in the 83 00:03:52,960 --> 00:03:55,480 Speaker 2: years after the conquest, depicts the Norman invasion of England 84 00:03:55,480 --> 00:03:57,280 Speaker 2: and the Battle of Hastings. The conflict of allowed William 85 00:03:57,320 --> 00:04:00,600 Speaker 2: the conqueror to take this rain from Harold Godwinson become 86 00:04:00,640 --> 00:04:03,600 Speaker 2: the first Norman King of England and effectively turned the 87 00:04:03,720 --> 00:04:07,560 Speaker 2: UK into the country that we know it is today. 88 00:04:07,960 --> 00:04:11,400 Speaker 2: The only recorded history is the Bayu Tapestry. It's going 89 00:04:11,440 --> 00:04:12,040 Speaker 2: back to Britain. 90 00:04:12,280 --> 00:04:15,960 Speaker 1: Incredible story, Sean. Now for favorite story, I've got a 91 00:04:15,960 --> 00:04:19,080 Speaker 1: different one in mind. The Counsel of Australian Life Insurers 92 00:04:19,480 --> 00:04:22,599 Speaker 1: have revealed that life insurers paid out a record two 93 00:04:22,600 --> 00:04:25,479 Speaker 1: point two billion dollars in mental health claims last year, 94 00:04:25,720 --> 00:04:28,000 Speaker 1: and that's almost double the amount from five years ago. 95 00:04:28,320 --> 00:04:31,599 Speaker 1: Nearly half of all of those were related to mental 96 00:04:31,640 --> 00:04:35,520 Speaker 1: health conditions like anxiety, PTSD and depression. Now, while this 97 00:04:35,560 --> 00:04:38,359 Speaker 1: is a fiscal warning and the real costs of health 98 00:04:38,400 --> 00:04:41,480 Speaker 1: are involved here, it's all about recognizing a growing crisis 99 00:04:41,480 --> 00:04:43,560 Speaker 1: in Australia and around the world, and that's got to 100 00:04:43,600 --> 00:04:46,400 Speaker 1: be a good thing. The data from the insurance industry 101 00:04:46,480 --> 00:04:49,360 Speaker 1: highlights and this again is a good thing. We are 102 00:04:49,360 --> 00:04:51,400 Speaker 1: now looking at this in a total way of health. 103 00:04:51,440 --> 00:04:53,279 Speaker 1: And that's why it's my favorite story of the week. 104 00:04:53,600 --> 00:04:55,440 Speaker 2: What about your Sean, That's a very worthy story and 105 00:04:55,560 --> 00:04:58,200 Speaker 2: very important. Mine is perhaps a little silly and maybe not. 106 00:04:58,400 --> 00:05:00,640 Speaker 2: Eden Musk has followed through to set up a new 107 00:05:00,640 --> 00:05:06,720 Speaker 2: political party, launching the America Party. Short on details, big 108 00:05:06,720 --> 00:05:09,520 Speaker 2: on t and fill short on details right that it 109 00:05:09,600 --> 00:05:12,200 Speaker 2: follows the president. You were Donald Trump signing the One 110 00:05:12,200 --> 00:05:15,560 Speaker 2: Big Beautiful Bill Act. It's huge, four point five trillion 111 00:05:15,560 --> 00:05:19,479 Speaker 2: dollars in tax carts. It cuts into safety net programs 112 00:05:19,520 --> 00:05:23,560 Speaker 2: like medicaid, food assistance. Elon Musk, well, he hates it. 113 00:05:23,640 --> 00:05:26,000 Speaker 2: He's criticized it for adding nearly three point three trillion 114 00:05:26,080 --> 00:05:28,200 Speaker 2: US as the national debt and the next decade. So 115 00:05:28,279 --> 00:05:31,039 Speaker 2: he launched the America Party. On next he wrote, I 116 00:05:31,120 --> 00:05:32,680 Speaker 2: quote by a factor of two to one, you won 117 00:05:32,760 --> 00:05:35,400 Speaker 2: a new political party, and you shall have it when 118 00:05:35,400 --> 00:05:38,359 Speaker 2: it comes to bankrupting our country with waste and graft. 119 00:05:38,720 --> 00:05:41,920 Speaker 2: We live in a one party system, not a democracy. Today. 120 00:05:42,200 --> 00:05:44,600 Speaker 2: The America Party is formed to give you back your freedom. 121 00:05:44,720 --> 00:05:47,000 Speaker 2: Donald Trump quickly came back. He said, and I quote 122 00:05:47,000 --> 00:05:49,160 Speaker 2: sad and to watch Elon Muscow completely off the rails, 123 00:05:49,400 --> 00:05:52,839 Speaker 2: essentially becoming a train wreck of the past five weeks. 124 00:05:54,160 --> 00:05:56,320 Speaker 2: I don't know. I think the Trump Musk it just 125 00:05:56,400 --> 00:05:58,880 Speaker 2: keeps giving, it does amazing. 126 00:05:58,600 --> 00:06:01,240 Speaker 1: And with that, that is our minutes and pretty much 127 00:06:01,240 --> 00:06:02,800 Speaker 1: everything you need to know on the world of business 128 00:06:02,839 --> 00:06:03,440 Speaker 1: this weekend. 129 00:06:03,520 --> 00:06:04,880 Speaker 2: Thank you Sean, thank you Adam. 130 00:06:05,080 --> 00:06:07,080 Speaker 1: We'll be back on Monday morning with the top five 131 00:06:07,120 --> 00:06:09,720 Speaker 1: business stories in just five minutes. Don't forget to hit 132 00:06:09,800 --> 00:06:13,280 Speaker 1: follow and join us online on Instagram, TikTok, LinkedIn, Facebook 133 00:06:13,279 --> 00:06:15,719 Speaker 1: and X. I'm Adam Lang and this is the past 134 00:06:15,720 --> 00:06:17,280 Speaker 1: five business needs both here and greet.