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Speaker 1: It's Thursday, the twentieth of February twenty twenty five. Welcome

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Speaker 1: to the Fast five Business News by Fear and Agreed,

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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 and just five minutes. Are Michael Thompson

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Speaker 1: and Good morning, Sean Aylmer. Good morning, Michael, Sean five stories,

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Speaker 1: five minutes. Let's go Storry number one. Three of the

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Speaker 1: country's biggest property groups reported yesterday, and the beleagued sector

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Speaker 1: is showing signs of life in some areas, notably data

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Speaker 1: centers and believe it or not, shopping centers Sean. But

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Speaker 1: it's struggling in others, namely residential a.

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Speaker 2: Big one with Goodman Group. It's logistics company that has

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Speaker 2: morphed into data centers. In fact, it's doubling down on

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Speaker 2: data centers. It's raising four billion dollars to spend on

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Speaker 2: sites in Los Angeles, Sydney, Melbourne, Madrid and take care

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Speaker 2: about half its work is data centers nowadays. Now they

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Speaker 2: reckon that. Greg Goodman, the CEO, says that the four

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Speaker 2: billion dollars will create about ten billion dollars worth of

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Speaker 2: value and five hundred mega what's of capacity. Remember the

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Speaker 2: old days used to talk about square meter, which now

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Speaker 2: we talk about mega what's of capacity? Pretty amazing, pretty

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Speaker 2: strong result from Goodman as well.

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Speaker 1: Vicinity Sean was another one that reported it owns big

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Speaker 1: retail assets Chadston and Victoria, QBB and Sydney a bunch

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Speaker 1: of others both that the two thirds of Australians live

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Speaker 1: within thirty minutes. How's retail Land looking.

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Speaker 2: It reckons there's going to be a shortage in shopping

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Speaker 2: centers over the next decade, which is a long way

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Speaker 2: from post COVID ideas and what's happening population growth. We're

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Speaker 2: getting a lot more retail sales in fact thirty percent

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Speaker 2: up over the next ten years there forecasting but fewer

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Speaker 2: shops that should support the big shopping center players. Viciting

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Speaker 2: itself on the back of revaluations had a pretty strong result.

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Speaker 2: It's share price jump two percent. Stockland also does retail,

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Speaker 2: but mostly it's in residential development master planned communities, that

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Speaker 2: type of thing. It's chief executive, Taram Goopda said things

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Speaker 2: are a bit tough. He'd like to see another rate cut.

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Speaker 2: Add in recent announcements from Office Block of owners Dexas,

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Speaker 2: Murvack and lend Lease the whole property sector is just

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Speaker 2: looking a little bit better now than has for while.

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Speaker 1: Indeed. Okay, on to story number two now, the big

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Speaker 1: shock yesterday in earning season was National Australian Bank's quarterly report.

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Speaker 1: The result itself was okay, solid even, you might say,

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Speaker 1: but it didn't beat expectations and NAB's share price was

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Speaker 1: down what eight percent?

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Speaker 2: Yes, so the profit disappointed? It was down two percent.

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Speaker 2: Revenue was flat badened, doubtful, debts and mortgage urias were

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Speaker 2: touch higher than Commonwealth Pac and Westpac, but still pretty low. Like,

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Speaker 2: it wasn't that bad a profit. It came in at

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Speaker 2: one point seven billion dollars for the three months. However,

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Speaker 2: all these bank stocks are priced to perfection. Unless they

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Speaker 2: do really well, people want to sell them off. This

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Speaker 2: wasn't a great result, It was just a good result.

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Speaker 2: As therefore, investors sold off National Australia Banks. Some of

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Speaker 2: the other banks got caught up in it. It almost

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Speaker 2: seemed like investors were looking for a reason to sell

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Speaker 2: the banks.

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Speaker 1: Story number three. The South Australian Parliament has effectively forced

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Speaker 1: the Wyala Steel Works, which is owned by Indian billionaire

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Speaker 1: son Juv Gupta, into administration putting thousands of jobs at risk.

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Speaker 2: Penny Melanauskas called in courtamento after passing legislation that will

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Speaker 2: give the state right to enter the steelworks, get access

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Speaker 2: to the accounts, and to give the state government a

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Speaker 2: first charge over debts owed by the steelworks. San Jeev

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Speaker 2: Gupta's LPMA, which is owned by his global group GFC Alliance,

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Speaker 2: owes the government's oh is the South Australian government tens

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Speaker 2: of millions in unpaid royalties, while South Australian Water is

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Speaker 2: owed something like fifteen million dollars. The background to this

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Speaker 2: the steel Works and mister Gupta's lender, Greensal, clapped four

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Speaker 2: years ago, leaving the group in a big financial hole.

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Speaker 2: About three thousand people in South Australia work for the company.

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Speaker 2: Mister Gupta previously has said he's hoping to get the

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Speaker 2: steel works back to profitability by midyear, but the South

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Speaker 2: Australian government has taken that out of his hands.

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Speaker 1: Story Number four. Billionaire Clive Palmer says he will chair

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Speaker 1: a new political party and it is called sean Trumpet

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Speaker 1: of Trumpet of Patriots, and he says Australia needs more

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Speaker 1: Trump policies.

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Speaker 2: After the Australian elect Commission confirmed the United Australia Party

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Speaker 2: couldn't reregister as a party, mister Palmer said he'd take

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Speaker 2: the helm of a new political outfit. I quote Mister Palmer,

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Speaker 2: the party believes in the policies of Donald Trump, which

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Speaker 2: is shown to be effective in bringing management back on track.

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Speaker 2: Australia needs Trump policies, Australians want them. End quote. Trumpet

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Speaker 2: of Patriots will run candidates in the upper end lower House.

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Speaker 2: The party will focus on and I quote ending the

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Speaker 2: gender agenda end quote, policies banning trans people in women's

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Speaker 2: sport and gender affirming health care for young people. Prime

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Speaker 2: Minister Anthony Alberanezi in response said Clive Palmer spending tens

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Speaker 2: of millions of dollars is a distortion of democracy.

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Speaker 1: Last one story number five, What do you make of

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Speaker 1: this one? Sealan. KFC, the fast food restaurant chain known

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Speaker 1: best really formally, not officially as Kentucky Fried Chicken. It

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Speaker 1: is moving. It's moving its corporate headquarters in the US

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Speaker 1: from Louisville in Kentucky to Texas. TFC it does not

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Speaker 1: have the same ring to it.

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Speaker 2: Young brands owns the business it's moving all the employees

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Speaker 2: over to Texas from Kentucky. A real shame. I think

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Speaker 2: Young Brands is a massive company in the US owns KFC, Pizza, Hunt,

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Speaker 2: Taco Bell, Taco Bill fit it wrong, didn't I? And Habit,

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Speaker 2: Burger and Grill. In recent years, many companies have relocated

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Speaker 2: to Texas, attracted by the state's lower taxes and business

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Speaker 2: friendly policies. However, KFC no longer in Louisville doesn't seem

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Speaker 2: right to me.

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Speaker 1: No, it certainly doesn't. All right, there we go the

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Speaker 1: top five business stories in five minutes.

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Speaker 2: Thank you Sean, Thank you Michael.

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Speaker 1: It is Thursday, the twentieth of February twenty twenty five.

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

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Speaker 1: minutes isn't enough, you can find our longer daily show

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Speaker 1: called Fear and Greed wherever you listen to podcasts. I'm

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Speaker 1: Michael Thompson and that was the fast five business news

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Speaker 1: by Fear and Greed. Have a great day.