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Speaker 1: It's Monday, the thirtieth of June 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: Will 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 Adam Lang.

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Speaker 2: Good morning Michael, Adam.

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

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Speaker 1: Business is getting ready for a bunch of fee hikes

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Speaker 1: from tomorrow, one July, and employees can also expect changes

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Speaker 1: to their pay packets as the new financial year kicks in.

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Speaker 1: There are some big changes which all business really needs

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Speaker 1: to be aware of. The first is an increase in

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Speaker 1: the national minimum wage. A three point five percent increase

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Speaker 1: takes effect, meaning the new national minimum wage is twenty

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Speaker 1: four to ninety five per hour or nine hundred and

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Speaker 1: forty eight dollars a week.

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Speaker 2: The second is a rise in the superannuation guarantee from

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Speaker 2: eleven point five to twelve percent. Whether that comes as

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Speaker 2: a wage increase as in your employee increases you're super

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Speaker 2: without you noticing any difference in your pay packet or

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Speaker 2: as reduction in your take home pay is up to

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Speaker 2: your employer. Another big change tomorrow is it. The Australian

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Speaker 2: Taxation Office will pay superannuation on government funded parental leave pay.

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Speaker 2: That's part of a big push to close the gender

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Speaker 2: gap in superannuation.

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Speaker 1: There's also some good news for small businesses. If you're

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Speaker 1: eligible with electricity bills, you may be able to receive

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Speaker 1: up to one hundred and fifty dollars in energy bill

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Speaker 1: rebates for the rest of the year. There's a lot

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Speaker 1: in all of this. If you want to go through

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Speaker 1: the changes in more detail, head to business dot gov

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Speaker 1: dot au bit of a community service announcement there adam

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Speaker 1: onto story number two. There's nothing like hopes of a

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Speaker 1: rate cut and perhaps higher financial markets to ratchet up

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Speaker 1: the housing market. The preliminary auction clearance rate over the

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Speaker 1: last week reached seventy four point five percent. That's the

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Speaker 1: highest early success rate since July of last year. This

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Speaker 1: is according to Cotality. Impressively, the result was achieved from

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Speaker 1: more than two thy one hundred auctions.

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Speaker 2: Yes, Michael big results. Over the weekend, Melbourne was once

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Speaker 2: again the busiest auction market, with a thousand homes going

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Speaker 2: under the hammer and a clearance rate approaching seventy seven percent.

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Speaker 2: It was the ninth week in a row where Melbourne

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Speaker 2: has returned a preliminary auction clearance rate above the seventy

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Speaker 2: percent mark. Sydney came in at seventy three point five percent,

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Speaker 2: and that's three weeks in a row where Sydney has

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Speaker 2: been above the seventy percent mark. Brisbane was very busy

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Speaker 2: with a seventy six percent result and that's the best

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Speaker 2: for the city in a year. Adelaide was back up

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Speaker 2: to its market leading best where a clearance rate of

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Speaker 2: eighty one percent, and Canberra came in at sixty four percent.

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Speaker 1: Story number three building products group James Hardy is shifting

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Speaker 1: its primary listing to the New York Stock Exchange. Another

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Speaker 1: loss for the ASX after shareholders in US outdoor decking

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Speaker 1: company Azek approved a fourteen billion dollar buyout, a deal

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Speaker 1: which infuriated many Australian shareholders who didn't have a chance

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Speaker 1: to vote on it.

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Speaker 2: That's right, Michael AAZX shareholders gave the green light to

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Speaker 2: the cash and script deal at a meeting held over

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Speaker 2: the weekend. According to the Australian Financial Review, anti asbestos

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Speaker 2: disease campaigners are watching carefully as the shift of domicile occurs,

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Speaker 2: warning on Friday that cases of asbestos disease from products

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Speaker 2: sold by James Hardy until nineteen eighty seven are still

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Speaker 2: rising in Australia as renovators and builders uncovered materials in

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Speaker 2: old houses and schools installed many decades ago.

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Speaker 1: Story number four. Senate Republicans, voting in an unusual weekend session,

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Speaker 1: have narrowly cleared a key procedural step to advance US

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Speaker 1: President Donald Trump's package of tax breaks, spending cuts, and

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Speaker 1: bolstered deportation funds by his fourth of July deadline. The

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Speaker 1: process pushed the Big Beautiful Bill closer to reality. In

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Speaker 1: the end, just two Republicans opposed the motion to proceed

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Speaker 1: to debate, joining all Democrats.

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Speaker 2: That's right, Michael. Republicans are using their majorities in Congress

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Speaker 2: to push through democratic opposition. But not all Republican politicians

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Speaker 2: are on board with the proposals to reduce spending on Medicaid,

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Speaker 2: food stamps, and other programs as a way to help

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Speaker 2: cover the cost of extending some of the US three

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Speaker 2: point eight trillion that's five point eight Australian trillion in

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Speaker 2: hump tax breaks. While the debate and vote were going on,

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Speaker 2: Trump himself was at his golf course in Virginia on Saturday,

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Speaker 2: with Republican senators posting about it on social media.

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Speaker 1: Last one sorry number five. Warren Buffett will donate about

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Speaker 1: six billion US dollars or nine billion Ossie of Berkshire

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Speaker 1: Hathaway shares to five foundations as part of a pledge

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Speaker 1: he made nearly two decades ago. The charities receiving the

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Speaker 1: money include the Bill, the Bill and Melinda Gates Foundation,

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Speaker 1: his children's foundations. The ninety four year old start at

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Speaker 1: the giving pledge in twenty ten alongside friends Belinda Gates

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Speaker 1: and Melinda French Gates with the goal of donating Buffett's

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Speaker 1: fortune either in his lifetime or at his death and Michael.

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Speaker 2: This is a quote from Buffett. The mathematics of lifetime

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Speaker 2: commitments to the five foundations are interesting. The five foundations

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Speaker 2: have received Berkshire b shares that had a value when

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Speaker 2: received of about US sixty billion, substantially more than my

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Speaker 2: entire net worth in two thousand and six. End of quote.

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Speaker 2: Buffett early this year announced he would step down as

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Speaker 2: chief executive officer of Berkshire Hathaway by the end of

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Speaker 2: this year twenty twenty five. He says he will not

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Speaker 2: sell a single share of Berkshire Hathaway, but will give

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Speaker 2: them away gradually. He's still worth about US two hundred

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Speaker 2: and twenty billion dollars.

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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.

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Speaker 2: Thank you Adam, Thank you Michael.

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Speaker 1: It is Monday, the thirtieth of June 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.