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Speaker 1: It's Thursday, the twenty fifth of September twenty twenty five.

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Speaker 1: Welcome 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 in just five minutes. I'm Michael Thompson

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Speaker 1: and good morning Sean.

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Speaker 2: Aylmer, Good morning, Michael Shawn.

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Speaker 1: Five stories, five minutes. Let's roll with story number one.

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Speaker 1: Inflation jumped in August on the back of the ending

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Speaker 1: of some electricity rebates. While the uptick is enough to

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Speaker 1: ensure the Reserve Bank Board doesn't cut interest rates when

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Speaker 1: it meets next week, the rise isn't enough to stop

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Speaker 1: further reductions in rates later in the year.

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Speaker 2: Inflation during the year to August rows three percent, slightly

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Speaker 2: above expectations. The all important underlying rate was up two

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Speaker 2: point six percent in the year to August, slightly lower

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Speaker 2: than July. The underlying rate takes out volatile items like

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Speaker 2: electricity prices. That means both headline and trimmed mean inflation

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Speaker 2: remain within the Reserve banks two to three percent target band,

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Speaker 2: world below the peaks of a few years ago. Over

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Speaker 2: the last twelve months, the biggest growth has been in tricity,

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Speaker 2: as rebates, cut out eggs, think bird flu coffee, tea,

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Speaker 2: and cocoa from supply issues for coco and tobacco, and

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Speaker 2: that was a government regulation issue. Prices have fallen for

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Speaker 2: smaller household appliances, garments for men, international holiday travel, and books.

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Speaker 2: Some components of inflation remains sticky, like rents, new dealic

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Speaker 2: dwelling constructions, parts of fresh food just taking a while

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Speaker 2: to come down. According to Amps dannam as scene of

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Speaker 2: the share of items with annual inflation below two percent,

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Speaker 2: the bottom of the target ban is at forty eight percent,

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Speaker 2: above three percent at thirty six percent.

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Speaker 1: All right, spell it out for US then Sewan. The

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Speaker 1: bottom line here is that underlying inflation pressures are easy

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Speaker 1: right across a broader range of goods and services. So

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Speaker 1: interest rate cuts are still in the offing.

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Speaker 2: Yes, there's a broader reading on inflation which we get

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Speaker 2: in about four weeks time. We know the Reserve Bank

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Speaker 2: is confident inflation's back and control. The employment market is

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Speaker 2: pretty strong, but it has peaked. It's coming off a bit.

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Speaker 2: Growth isn't fast enough, so financial markets pricing in a

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Speaker 2: rate cut in November could be more next year.

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Speaker 1: Okay, moving on, to story number two now and the

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Speaker 1: United Nations General Assembly is winding down, but Prime Minister

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Speaker 1: Anthony Alberaneze he managed to squeeze in a quick chat

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Speaker 1: to US President Donald Trump. He set up a formal

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Speaker 1: meeting in a month's time. Is now heading off to

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Speaker 1: the UK to meet Prime Minister Kirs Starmer and then

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Speaker 1: on to the United Arab Emirates.

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Speaker 2: Albanze he will return to the US for the seventh

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Speaker 2: times Prime minister next month, and he's the trip since June.

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Speaker 2: That came after Trump finally granted him a meeting at

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Speaker 2: the White House, having running to him at a reception.

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Speaker 2: It's been a while a few days in New York,

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Speaker 2: not least thanks to Donald Trump using the gathering to

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Speaker 2: blast Europe's immigration policies, Europe's policies around providing oil to Russia.

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Speaker 2: He called climate change the greatest con job ever perpetrated,

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Speaker 2: and claimed the UN had done nothing to end conflicts

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Speaker 2: while he himself had put an end to seven wars.

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Speaker 2: There you go. Technical mishaps marred the appearance, with a

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Speaker 2: faulty escalator and a broken teleprompter, prompting Trump to accuse

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Speaker 2: the end of the UN of sabotage. Meanwhile, French President

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Speaker 2: Mcmanuel mccron was stopped by security who wouldn't let him

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Speaker 2: into the UN building.

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Speaker 1: So what did he do?

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Speaker 2: He rang Donald Trump and asked for help.

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Speaker 1: Story number three Sean Optus has appointed former investment banker

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Speaker 1: and NBN director doctor Kerry Shott to lead an independent

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Speaker 1: review into last week's failure that prevented more than six

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Speaker 1: hundred people from calling Triple zero and was associated with

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Speaker 1: four deaths.

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Speaker 2: OPTAs said the review will then identify the causes of

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Speaker 2: the incident on September eighteen, and examine how Triple zero

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Speaker 2: calls and managed on its network. Chair John Arthur said

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Speaker 2: the board was working with Chief Executive Stephen Reed to

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Speaker 2: understand what went wrong and it's committed to sharing the

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Speaker 2: facts and publicly revealed the outcome of shots review late

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Speaker 2: yesterday or later yesterday. At a media conference. Reo acknowledged

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Speaker 2: that Optus's reputation had been damaged by the outage. He

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Speaker 2: indicated he had no plans to step down. He also

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Speaker 2: confirmed that four people had lost their lives because they

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Speaker 2: could not reach emerging services.

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Speaker 1: Story number four. The latest trust rankings show the big

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Speaker 1: banks climbing up the rankings. Bunnings sill number one and

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Speaker 1: the two major supermarket chains stuck as the most distrusted brands.

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Speaker 2: All four major banks have proved their rankings, led by

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Speaker 2: Commonwealth Bank. It was up five spots to enter the

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Speaker 2: top ten at seven, NAB was nineteen, Westpac twenty one

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Speaker 2: as fifty one. For the discount department stores, they did

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Speaker 2: pretty well. Big W was up for the second straight quarter.

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Speaker 2: It's number six target is that thirteen coming in at

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Speaker 2: number one they once again Bunnings, followed by Eldi came up,

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Speaker 2: Apple and Toyota. Other end of the list. Supermarket giants

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Speaker 2: Woollies and Coles are again in Australia's two most distrusted

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Speaker 2: brands three quarters in a row. Behind the two supermarket

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Speaker 2: bands were Facebook, Meta, Timu and Tesla.

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Speaker 1: Last one story number five sean. More than seventy percent

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Speaker 1: of chat GPT users are asking for help with personal

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Speaker 1: matters and how to get stuff done, rather than work

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Speaker 1: related tasks. According to a first of its kind study

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Speaker 1: that uses millions of anonymized messages.

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Speaker 2: Non work queries, comprising seventy three percent of interactions, up

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Speaker 2: from fifty percent last year, were most commonly for advice

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Speaker 2: about writing, personal issues such as fitness in making information requests.

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Speaker 2: The remaining twenty seven percent work related asking help, writing,

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Speaker 2: decision support, information processing and technical help. How people use GPTs.

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Speaker 2: The most detailed study released so far about the AIS tool,

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Speaker 2: done by academics from Harvard and Duke Universities. Want to

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Speaker 2: know what they're asking. Prompts that were classified as personal

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Speaker 2: include my wife is mad at me and I don't

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Speaker 2: know what to do? How did black holes work? Does

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Speaker 2: ice reduce pimples? There you go the work related questions

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Speaker 2: more like write powerpoints slides for a tax law conference,

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Speaker 2: rewrite this HR complaint? Perform a regression analysis on this data.

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Speaker 2: Research said that workers in highly paid professional occupations were

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Speaker 2: more likely to use chat GPT and concluded they found

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Speaker 2: the tool most useful as an advisor or research assistant.

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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.

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Speaker 2: Thank you Sean, Thank you Michael.

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Speaker 1: It is Thursday, the twenty fifth of September 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 a fast by business news,

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Speaker 1: by fear and greed. Have a great day.