1 00:00:03,760 --> 00:00:07,040 Speaker 1: It's Tuesday, the ninth of July twenty twenty four. Welcome 2 00:00:07,040 --> 00:00:09,559 Speaker 1: to the Fast five Business News by Fearing Greed, where 3 00:00:09,560 --> 00:00:11,360 Speaker 1: we give you the top five business stories you need 4 00:00:11,400 --> 00:00:14,800 Speaker 1: to know intus five minutes are Michael Thompson and Good Morning. 5 00:00:14,520 --> 00:00:17,080 Speaker 2: Sean Aylmer, Good Morning Michael Shawn. 6 00:00:17,160 --> 00:00:19,440 Speaker 1: Five stories to get through in five minutes. Let's get 7 00:00:19,480 --> 00:00:23,000 Speaker 1: going story number one. The composition of the top twenty 8 00:00:23,120 --> 00:00:26,759 Speaker 1: stocks on the ASX is changing fast, with stall ITTs 9 00:00:26,880 --> 00:00:32,199 Speaker 1: like Telstra and Woolies and Transurban slipping, while others like 10 00:00:32,400 --> 00:00:36,280 Speaker 1: industrial property Giant Goodman Group become top ten companies. 11 00:00:36,479 --> 00:00:39,440 Speaker 2: The top twenty stocks on the AX let's call them megacaps, 12 00:00:39,479 --> 00:00:42,680 Speaker 2: comprise fifty six percent of the market capitalization of the 13 00:00:42,720 --> 00:00:46,320 Speaker 2: stock exchange in Australia. By reputation, the mega caps are 14 00:00:46,320 --> 00:00:49,320 Speaker 2: solid and often paid dividends. You're not really supposed to 15 00:00:49,360 --> 00:00:51,640 Speaker 2: lose your capital on them. In contrast, the mid caps 16 00:00:51,640 --> 00:00:54,000 Speaker 2: are supposed to provide plenty of growth opportunities, while the 17 00:00:54,000 --> 00:00:57,120 Speaker 2: small caps are more speculative. But over the past twelve 18 00:00:57,160 --> 00:00:59,400 Speaker 2: months it hasn't played out that way, with some big 19 00:00:59,440 --> 00:01:01,920 Speaker 2: moves in the top twenty stocks. While the AASEX two 20 00:01:02,040 --> 00:01:04,160 Speaker 2: hundred is up around eight percent over the past year. 21 00:01:04,480 --> 00:01:07,240 Speaker 2: Woodside is down sixteen percent. It's no longer a top 22 00:01:07,280 --> 00:01:10,400 Speaker 2: ten stock. Telstro, with its one point three million shareholders, 23 00:01:10,400 --> 00:01:12,840 Speaker 2: has also slipped out of the top ten. It's now 24 00:01:12,880 --> 00:01:16,200 Speaker 2: the thirteenth largest company on the burse, having lost fourteen 25 00:01:16,240 --> 00:01:18,960 Speaker 2: percent of its value over the past year. Woolies and 26 00:01:19,080 --> 00:01:21,880 Speaker 2: trans Urban are the other big losers within the top twenty, 27 00:01:22,120 --> 00:01:25,400 Speaker 2: while Coal's, Brambles and res Med have all fallen off 28 00:01:25,400 --> 00:01:29,080 Speaker 2: the list of mega caps. Shareholders and all those companies 29 00:01:29,120 --> 00:01:31,640 Speaker 2: have just mentioned have lost lots of capital over the 30 00:01:31,680 --> 00:01:32,640 Speaker 2: past twelve months. 31 00:01:33,000 --> 00:01:35,120 Speaker 1: What about the other side? Show on are the best performers? 32 00:01:35,160 --> 00:01:37,440 Speaker 1: Where have shareholders actually made money? 33 00:01:37,760 --> 00:01:40,240 Speaker 2: A year ago? Goodwin Group was on a top twenty stock. 34 00:01:40,440 --> 00:01:43,200 Speaker 2: Its share price has appreciated nearly eighty percent over the 35 00:01:43,240 --> 00:01:46,280 Speaker 2: past year. It's now the country's tenth largest company. We've 36 00:01:46,280 --> 00:01:48,920 Speaker 2: talked plenty about the banks. They remain dominant. We have 37 00:01:48,960 --> 00:01:52,080 Speaker 2: spoken less about West Farmers, which of course owns Bunnings 38 00:01:52,080 --> 00:01:54,600 Speaker 2: and office works. Also, it's got a pharmacy business, the 39 00:01:54,640 --> 00:01:58,160 Speaker 2: lithium project of chemicals and fertilizers business, among other things. 40 00:01:58,360 --> 00:02:01,360 Speaker 2: It employs one hundred and twenty people and has more 41 00:02:01,400 --> 00:02:04,360 Speaker 2: than half a million shareholders. The group began life as 42 00:02:04,360 --> 00:02:07,800 Speaker 2: a Western Australian farmers cooperative more than one hundred years ago, 43 00:02:08,120 --> 00:02:10,720 Speaker 2: wasn't a Top twenty stock a few years ago, is 44 00:02:10,800 --> 00:02:14,080 Speaker 2: now up forty percent over the past year. Are the 45 00:02:14,120 --> 00:02:16,920 Speaker 2: newbies to the Top twenty this year A wistet Global Aristocrat, 46 00:02:16,960 --> 00:02:18,240 Speaker 2: Leisure and Aria group. 47 00:02:18,639 --> 00:02:20,920 Speaker 1: Okay, Moving on to story number two now, the Federal 48 00:02:20,919 --> 00:02:23,640 Speaker 1: Coalition has pulled a head of Labour for the first 49 00:02:23,720 --> 00:02:27,200 Speaker 1: time in New South Wales and increased its lead in Queensland, 50 00:02:27,200 --> 00:02:30,079 Speaker 1: though it still lags in Victoria. According to a state 51 00:02:30,120 --> 00:02:31,520 Speaker 1: by state newspoll. 52 00:02:31,480 --> 00:02:34,400 Speaker 2: In South Australia contest as Titan, but the Coalition lost 53 00:02:34,480 --> 00:02:37,079 Speaker 2: significant ground in Western Australia, which was key to the 54 00:02:37,160 --> 00:02:40,720 Speaker 2: Labour's twenty twenty two election victory. An exclusive state by 55 00:02:40,720 --> 00:02:45,320 Speaker 2: state Newspole demographic analysis shows the political contest tightening over 56 00:02:45,320 --> 00:02:47,680 Speaker 2: the past three months, though Labour's still ahead on a 57 00:02:47,680 --> 00:02:50,680 Speaker 2: two party preferred vote fifty one to forty nine for 58 00:02:50,720 --> 00:02:54,800 Speaker 2: the first time. The Coalition enjoys majority support among male voters. 59 00:02:55,120 --> 00:02:58,880 Speaker 2: Female voters still marginally favor Labor. The results confirm a 60 00:02:58,880 --> 00:03:02,120 Speaker 2: continuation of a trend that, if repeated an election would 61 00:03:02,200 --> 00:03:05,280 Speaker 2: cost Labor its parliamentary majority and force it into a 62 00:03:05,280 --> 00:03:09,040 Speaker 2: minority government, with independence still a ways to go, though Michael. 63 00:03:09,120 --> 00:03:14,079 Speaker 1: Indeed story three. The threshold for involuntary bankruptcy is going 64 00:03:14,080 --> 00:03:16,799 Speaker 1: to rise to twenty thousand dollars and bankrupts will have 65 00:03:16,880 --> 00:03:20,480 Speaker 1: their official records cleared after seven years. Under an overhaul 66 00:03:20,520 --> 00:03:22,160 Speaker 1: of personal insolvency laws. 67 00:03:22,360 --> 00:03:24,800 Speaker 2: The alban Easy government will also extend the time frame 68 00:03:24,800 --> 00:03:27,520 Speaker 2: for responding to a bankruptcy notice from twenty one days 69 00:03:27,520 --> 00:03:31,480 Speaker 2: to twenty eight days. It'll scrap debt agreements under the legislation. 70 00:03:31,720 --> 00:03:34,280 Speaker 2: The amendments should ensure a fairer outcome for debtors in 71 00:03:34,320 --> 00:03:38,160 Speaker 2: the personal insolvency system and reduce the stigma associated with 72 00:03:38,360 --> 00:03:41,840 Speaker 2: entering into bankruptcy. According to Attorney General Mark Dreyfus, who 73 00:03:41,840 --> 00:03:45,520 Speaker 2: also launched something known as the Minimum Asset Procedure, it's 74 00:03:45,560 --> 00:03:49,000 Speaker 2: like a mini bankruptcy regime. It'll allow debtors who meet 75 00:03:49,000 --> 00:03:52,760 Speaker 2: certain criteria to start afresh sooner. Under the proposal, people 76 00:03:52,760 --> 00:03:55,000 Speaker 2: who are less than fifty thousand dollars and have minimal 77 00:03:55,000 --> 00:03:57,560 Speaker 2: assets to repay debts would be able to apply to 78 00:03:57,640 --> 00:04:01,640 Speaker 2: participate in the procedure less restrictive and bankruptcy and last 79 00:04:01,680 --> 00:04:02,480 Speaker 2: for just one year. 80 00:04:03,280 --> 00:04:07,120 Speaker 1: Story number four turning overseas now Sean left wing parties 81 00:04:07,120 --> 00:04:10,080 Speaker 1: in France have topped the second round of polling in 82 00:04:10,120 --> 00:04:13,080 Speaker 1: the parliamentary election in a bit of a shock really 83 00:04:13,120 --> 00:04:17,719 Speaker 1: that pushes Marine Lapenn's right wing populist National Rally into 84 00:04:17,800 --> 00:04:18,520 Speaker 1: third place. 85 00:04:18,880 --> 00:04:22,279 Speaker 2: French President Emmanuel Macron's coalition of centrist parties did better 86 00:04:22,320 --> 00:04:24,840 Speaker 2: than expected, and it shows that his high risk strategy 87 00:04:24,839 --> 00:04:27,120 Speaker 2: of calling a snap election to nip the growth of 88 00:04:27,240 --> 00:04:30,440 Speaker 2: National Rally has worked, but it hasn't really meant success 89 00:04:30,440 --> 00:04:32,919 Speaker 2: for his own coalition, with the left wing New Popular 90 00:04:32,960 --> 00:04:35,160 Speaker 2: Front set to win around one hundred and eighty seats 91 00:04:35,160 --> 00:04:38,800 Speaker 2: in the National Assembly. The New Popular Front includes Socialists, Communist, 92 00:04:38,880 --> 00:04:43,000 Speaker 2: Greens and the hard left France Unbowed, Macron's coalition will 93 00:04:43,040 --> 00:04:45,320 Speaker 2: end up with round one hundred and fifty nine seats 94 00:04:45,400 --> 00:04:48,200 Speaker 2: National Rally one hundred and forty three. It means France 95 00:04:48,279 --> 00:04:51,880 Speaker 2: will have a hung parliament split between three blocks. A 96 00:04:51,920 --> 00:04:55,119 Speaker 2: coalition of two of the three is unlikely, Enelyst said, 97 00:04:55,440 --> 00:04:57,640 Speaker 2: and no new election can be called for twelve months, 98 00:04:57,640 --> 00:05:01,240 Speaker 2: so the weekend vote could result in a very hamstrung Parliament. 99 00:05:01,640 --> 00:05:05,360 Speaker 1: Indeed, last one story number five, Paramount's board is set 100 00:05:05,400 --> 00:05:09,640 Speaker 1: to agree to merge with independent studio Skydance, a deal 101 00:05:09,640 --> 00:05:12,880 Speaker 1: that would shift control of the historic Hollywood group from 102 00:05:12,920 --> 00:05:16,320 Speaker 1: Shari Redstone's family to billionaire David Ellison. 103 00:05:16,920 --> 00:05:19,400 Speaker 2: The deal set to be signed any time, according to 104 00:05:19,440 --> 00:05:23,080 Speaker 2: media reports. That means Skydance will own CBSMTV, the Paramount 105 00:05:23,080 --> 00:05:26,440 Speaker 2: Movie Studio, and indeed Network ten here in Australia. Any 106 00:05:26,480 --> 00:05:30,839 Speaker 2: deal comes just weeks after Redstone blocked a deal with Skydance, 107 00:05:30,880 --> 00:05:33,279 Speaker 2: which is backed by some private equity groups as well. 108 00:05:33,640 --> 00:05:35,279 Speaker 2: She only aims ten percent of the stock, but she 109 00:05:35,320 --> 00:05:37,679 Speaker 2: has eighty percent of the voting rights. It really hasn't 110 00:05:37,680 --> 00:05:40,719 Speaker 2: been an easy road. During a chaotic, highly public bidding 111 00:05:40,800 --> 00:05:44,719 Speaker 2: process involving several rival bids, Paramount's chief executive and four 112 00:05:44,760 --> 00:05:48,640 Speaker 2: board members left the company disagreeing with Miss Redstone. Assuming 113 00:05:48,640 --> 00:05:50,440 Speaker 2: the deal's done, it would close an eighty eight year 114 00:05:50,520 --> 00:05:54,760 Speaker 2: chapter of her family's involvement in the entertainment business. David 115 00:05:54,800 --> 00:05:57,039 Speaker 2: Ellison just out of interest as the son of Oracle 116 00:05:57,080 --> 00:05:58,440 Speaker 2: founder Larry Ellison. 117 00:05:58,520 --> 00:06:00,560 Speaker 1: So there you go, all right, we go The top 118 00:06:00,600 --> 00:06:03,440 Speaker 1: five business stories in five minutes. Thank you Sean, Thank 119 00:06:03,480 --> 00:06:06,880 Speaker 1: you Michael. It's Tuesday, the ninth of July twenty twenty four. 120 00:06:06,960 --> 00:06:09,120 Speaker 1: Remember to hit follow on the podcast, and if five 121 00:06:09,120 --> 00:06:11,440 Speaker 1: minutes isn't enough, you can find our longer daily show 122 00:06:11,480 --> 00:06:14,320 Speaker 1: called Fear and Greed wherever you listen to podcasts, or 123 00:06:14,360 --> 00:06:17,080 Speaker 1: at Fearangreed dot com dot au, which is also where 124 00:06:17,080 --> 00:06:19,880 Speaker 1: you can sign up for. Our free weekly newsletter comes 125 00:06:19,920 --> 00:06:22,480 Speaker 1: out every Wednesday, so jump on that one today, get 126 00:06:22,520 --> 00:06:24,560 Speaker 1: in ahead of time. I'm Michael Thompson and that was 127 00:06:24,600 --> 00:06:26,560 Speaker 1: the fast five business news by Fear and Greed. 128 00:06:26,800 --> 00:06:27,480 Speaker 2: Have a great day.