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Speaker 1: It's Wednesday, the fourteenth of May twenty twenty five. Welcome

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Speaker 1: to the Fast five Business News by Fear and Greed.

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Speaker 1: Whill we give you the top five business stories you

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Speaker 1: need to know When it's five minutes, I'm Michael Thompson

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Speaker 1: and good morning Sean Aylmer.

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Speaker 2: Good morning Michael, Sean.

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

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Speaker 1: It's a big one. Susan Lee has become the first

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Speaker 1: female leader of the Liberal Party and in its eighty

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Speaker 1: one year history, beating Angus Taylor by just four votes

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Speaker 1: in the race to replace Peter Dutton.

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Speaker 2: It was a win for the moderates in the Liberal Party,

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Speaker 2: but the narrowness of the victory doesn't augur well free

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Speaker 2: Unified Party in the future. To Lee supporters, Senators Linda

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Speaker 2: Reynolds and Holly Hughes will leave Parliament on thirty June

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Speaker 2: after failing to win seats at the last election. That

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Speaker 2: just shows how close support between Lee and Taylor is.

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Speaker 2: Lee's deputy will be Ted O'Brien, who beat Queensland of

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Speaker 2: Phil Thompson thirty eight votes to sixteen. O'Brien's probably best

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Speaker 2: known as the architect of the Libs nuclear power policy,

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Speaker 2: Nationals defected just center. Price didn't contest the deputy role

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Speaker 2: after Taylor lost the vote for the top job. Taylor's

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Speaker 2: likely to lose the shadow Treasury gig. That's probably going

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Speaker 2: to go to O'Brien or possibly Tim Wilson. At least yesterday,

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Speaker 2: party spokespeople pushed the need for unity within the Liberals.

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Speaker 1: How likely is that is certainly actually a winner in

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Speaker 1: all of this shown or is her job kind of

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Speaker 1: somewhere between a rock and a hard place?

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Speaker 2: You wonder not actually's happy about the result, but given

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Speaker 2: the Liberals may have less than thirty seats in the

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Speaker 2: House of Reps out of one hundred and fifty, her

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Speaker 2: job is tough. The Libs will have twenty five senators

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Speaker 2: now the Nationals will have fifteen MPs in the House

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Speaker 2: of Reps and for senators, as a result, the junior

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Speaker 2: coalition partner will be a little more senior this parliament.

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Speaker 2: That makes life more difficult for Lee, who has had

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Speaker 2: a mixed career in federal politics. She's a moderate. She

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Speaker 2: will have a more conservative and more powerful coalition partner.

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Speaker 2: She's a former Bush pilot and roused about who replaced

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Speaker 2: former Nationals leader Tim Fisher in the rural New South

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Speaker 2: Wales seat of in two thousand and one, probably best

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Speaker 2: remembered for having to stand down as Health Minister into

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Speaker 2: twenty seventeen after using taxpayer funded travel to inspect and

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Speaker 2: purchase an investment property on the Gold Coast.

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Speaker 1: All right, moving on to story number two. Now in

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Speaker 1: the local share market surged yesterday on the back of

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Speaker 1: a ninety day pause in tariffs between the US and China.

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Speaker 2: That's right, jumping back thirty six hours. The US and

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Speaker 2: China have agreed to cut tariffs for ninety days, effective immediately.

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Speaker 2: The US said it would cut existing tariffs from one

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Speaker 2: forty five to thirty percent. China said it will lower

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Speaker 2: duties from one twenty five to ten percent. Big breakthrough

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Speaker 2: that sparked a surge on Wall Street, with a relief rally,

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Speaker 2: sending the broad based SMP five hundred up more than

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Speaker 2: three percent. That course is now up seventeen percent since

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Speaker 2: it's low six weeks ago, flat for the year. Locally,

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Speaker 2: the SMPA six two hundred finished up nearly half percent,

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Speaker 2: nowhere near as much as Wall Street now. Energy stocks

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Speaker 2: jumped on the back of the rise in the price

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Speaker 2: of oil. Tech stocks feed also well, but perhaps local

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Speaker 2: investors just a little more circumspect about what's going on

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Speaker 2: ok Ry.

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Speaker 1: Number three. Consumer sentiment improved slightly between April and May,

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Speaker 1: as share markets recovered from Liberation Day falls and the

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Speaker 1: all important prospect of an interest rate cut improved.

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Speaker 2: However, the Westpac Melbourne Institute Index remains at ninety two.

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Speaker 2: It's been stuck below one hundred level for more than

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Speaker 2: three years. That means more pessimis than optimists. Are a

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Speaker 2: bit miserable, Michael, we really are. Sentiment trended up most

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Speaker 2: of last year, progress is now stalled. There are some

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Speaker 2: promising science current family finance has increased seven percent or

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Speaker 2: the reading of that, so family finances seem to be

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Speaker 2: a bit better. Expectations about the economic outlook in the

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Speaker 2: future are better. Meanwhile, business confidence a little bit of

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Speaker 2: improvement in April, but it still remains negative. Business conditions

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Speaker 2: are now at their lowest level since August twenty twenty.

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Speaker 2: That's according to the National Australia Bank Survey.

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Speaker 1: Story Number four. Australian investors are buying up bitcoin as

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Speaker 1: the cryptocurrency reverses a tumble in the first three months

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Speaker 1: of this year.

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Speaker 2: Since early Apple, bitcoins up thirty seven percent, and analysts

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Speaker 2: forecast it still has a way to run. The world's

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Speaker 2: largest digital asset crossed the key one hundred thousand US

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Speaker 2: dollar level last week for the first time since February.

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Speaker 2: It's trending higher the record levels one hundred and nine

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Speaker 2: thousand US reached on January twenty. Ironically for a risky asset,

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Speaker 2: commentators believe the uncertainty around the tariff announcements is helping

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Speaker 2: bitcoin because it becomes an option to other US de

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Speaker 2: nominated assets. Global investors in bitcoin exchange traded funds added

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Speaker 2: almost three billion US dollars last month. The previous two months,

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Speaker 2: more than five billion dollars was withdrawn from the space. Locally,

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Speaker 2: Australian ets have attracted one hundred and forty eight million

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Speaker 2: dollars in inflows so far this year. That's about twice

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Speaker 2: as much as the same period last year. Bitcoin is

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Speaker 2: back in favor among investors.

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Speaker 1: Last one story number five I reckon this is good

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Speaker 1: news Sean Apple is planning to use artificial intelligence technology

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Speaker 1: to improve the battery life of its iPhones.

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Speaker 2: The company's planning in AI powered battery management made for

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Speaker 2: iOS nineteen and iPhone software update due in September. According

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Speaker 2: to Bloomberg, the enhancement will analyze how a person uses

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Speaker 2: their device and make adjustments to conserve energy. To create

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Speaker 2: the technology, which is part of the Apple Intelligence platform,

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Speaker 2: the company's using battery data It's collected from users' devices

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Speaker 2: to understand trends and make predictions for when it should

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Speaker 2: lower the power drawer of certain applications and features. There'll

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Speaker 2: also be a lock screen indicator showing how long it

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Speaker 2: will take to charge up the device.

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Speaker 1: All right, there we go, the top five business stories

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Speaker 1: in five minutes. Thank you Sean, Thank you Michael. It

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Speaker 1: is Wednesday, the fourteenth of May twenty twenty five. Remember

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

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

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

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

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