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Speaker 1: It's Friday, the twenty second of August 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, Natalie McDonald.

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Speaker 2: Good morning Michael.

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Speaker 1: Five stories in five minutes, Let's go story number one.

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Speaker 1: Treasurer Jim Chalmers has flagged tax reform targeting older generations

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Speaker 1: as he wrapped up his three day economic reform round table,

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Speaker 1: declaring the focus now is on three things intergenerational fairness,

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Speaker 1: encouraging businesses to invest, and creating a simpler, more sustainable

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Speaker 1: tax system to fund services.

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Speaker 2: But just how that will happen is very much in

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Speaker 2: the airstell. The Treasurer has ruled out an external tax review,

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Speaker 2: saying the government will develop policies which could mean tackling

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Speaker 2: superannuation concessions, family trusts and capital gains tax, potentially offset

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Speaker 2: by lower income tax. He also left open the Productivity

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Speaker 2: Commission's proposal for a twenty percent company tax rate for

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Speaker 2: businesses under one billion dollars in turnover, with big operators

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Speaker 2: staying at thirty percent and all businesses paying a five

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Speaker 2: percent cash bow tax. Alongside the tax debate, Charmers confirmed

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Speaker 2: a series of immediate reforms, scrapping more nuisance tariffs, fast

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Speaker 2: tracking environmental approvals for housing and energy projects, simplifying the

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Speaker 2: construction code, and moving ahead with a road user charge

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Speaker 2: for electric and hybrid vehicles to replace lost fuel excise.

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Speaker 1: All right, there's been a lot in this over the

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Speaker 1: last few days, and a lot that came out late

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Speaker 1: yesterday afternoon. How the main parties responded to everything that

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Speaker 1: has emerged well.

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Speaker 2: Business groups said the three days were productive. They were

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Speaker 2: pretty blunt on the potential for higher levies on large

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Speaker 2: companies like banks and miners, saying it would drag on

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Speaker 2: investment and fail the basic test of uplifting productivity. Union

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Speaker 2: struck a slightly different note. ACTU Secretary Salumcmannus backed wealth

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Speaker 2: taxes but warned against cuts to income tax that could

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Speaker 2: undermine Medicare and education. Inside the summit itself, there was

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Speaker 2: a bit of tension, with Shadow Treasurer Ted O'Brien accusing

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Speaker 2: Charmers of overspending and locking in deficits, but some good

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Speaker 2: news on one of the most controversial issues heading into

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Speaker 2: the summit. The call for copyright protection to be removed,

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Speaker 2: giving AI access to Australian content. The AFI reports a

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Speaker 2: quick informal conversation between selling Manus and tech billionaire Scott

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Speaker 2: Farqua led to commitments for ongoing collaboration between unions and

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Speaker 2: the Tech Council to work out how to pay media

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Speaker 2: companies and other content creators for the content used to

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Speaker 2: train AI models.

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Speaker 1: Okay, moving on to story number two. Now in Commonwealth

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Speaker 1: Bank has backflipped on plans to cut forty five call

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Speaker 1: center jobs it had replaced with an AI voice spot,

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Speaker 1: after conceding to the Fairwork Commission that workloads had actually

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Speaker 1: increased rather than decreased.

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Speaker 2: Despite claiming the new system reduced calls by two thousand

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Speaker 2: a week, CBA admitted the number of calls had actually risen,

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Speaker 2: forcing managers to work overtime and cover the phones. Forty

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Speaker 2: five workers who were told their jobs were redundant have

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Speaker 2: now been asked to stay with CEO matcommon apologizing and

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Speaker 2: pledging a review of processes. Unions have jumped on the uturn,

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Speaker 2: saying it's proof that banks are dressing up cuts as

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Speaker 2: innovation and are demanding stronger consultation before AI changes roll out.

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Speaker 1: Starting number three, new research has highlighted a major mismatch

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Speaker 1: in Australia's housing market, where homes are often too big

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Speaker 1: for the households that occupy them.

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Speaker 2: Data from property research group Totality shows that most new

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Speaker 2: homes are built for families, but more than sixty percent

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Speaker 2: of households are actually just one or two people. Loan

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Speaker 2: person households, especially seniors, struggle to find suitable options, with

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Speaker 2: one bedroom and studio apartments making up just six percent

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Speaker 2: of housing stock. Experts say high transaction costs like stamp

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Speaker 2: duty keep people in homes bigger than they actually need.

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Speaker 2: Some suggest tax reforms or changes to pension rules to

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Speaker 2: encourage downsizing. Builders are also still focused on larger homes

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Speaker 2: aiming for resale value, while construction capacity lags behind government

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Speaker 2: targets to deliver one point two million new homes and less.

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Speaker 2: Say promoting smaller, more flexible homes could speed up supply

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Speaker 2: and make housing more accessible.

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Speaker 1: Story number four. This is an interesting one. Super Retail

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Speaker 1: chief executive Anthony Hereti has labeled organized crime attacks at

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Speaker 1: its Rebel Sports stores in Victoria as out of control.

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Speaker 2: It's been referred to as industrial scale theft. Resulting in

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Speaker 2: a slight decline in Rebel's gross margins for the year,

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Speaker 2: but the sports retailer still logged an almost five percent

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Speaker 2: increase in sales. Stronger than expected results at super Cheap

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Speaker 2: Auto saw shares finishing the day up twelve percent, and

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Speaker 2: it was one of the more interesting results yesterday on

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Speaker 2: what was a huge day for the ASX, setting a

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Speaker 2: new record, pushing through the nine thousand mark for the

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Speaker 2: first time.

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Speaker 1: Last one story number five. Australian football is facing fresh

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Speaker 1: warnings about match fixing, with next year's Women's AI Cup

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Speaker 1: in Perth singled out as a major risk.

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Speaker 2: Integrity experts say gaps in Australia's laws and the rise

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Speaker 2: of illegal offshore betting markets are leaving players and referees exposed.

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Speaker 2: It follows the case of x A League player Riku Danzaki,

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Speaker 2: who admitted at betting on his own yellow cards, pocketing

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Speaker 2: more than twenty thousand dollars before being caught by tab

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Speaker 2: court and reported to police. Sport Integrity Australia warns that

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Speaker 2: football's global popularity, underplayed players and limited education programs heightened vulnerability,

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Speaker 2: particularly in lower leagues. With next year's Women's Asian cup

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Speaker 2: in Perth flag as a massive risk. The federal government

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Speaker 2: has promised new laws to strengthen protections, but with Western

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Speaker 2: Australia still relying on older codes, experts warn the system

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Speaker 2: just isn't ready.

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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, Natalie, Thank you, Michael.

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Speaker 1: It is Friday, the twenty second of August twenty twenty five.

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Speaker 1: Remember to hit follow on the podcast and five minutes,

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Speaker 1: isn't it now? If you can find our longer daily

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Speaker 1: show called Fear and Greed wherever you listen to podcasts,

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Speaker 1: I'm Michael Thompson. And there was the fast five business

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Speaker 1: news by Fear and Greed. Had a great day.