1 00:00:03,880 --> 00:00:06,720 Speaker 1: It's Tuesday, the twenty third of July twenty twenty four. 2 00:00:06,960 --> 00:00:09,720 Speaker 1: Welcome to the Fast five Business News by Fear and Greed. 3 00:00:09,720 --> 00:00:11,559 Speaker 1: Will we give you the top five business stories you 4 00:00:11,640 --> 00:00:14,120 Speaker 1: need to know in just five minutes. I'm Michael Thompson 5 00:00:14,160 --> 00:00:15,520 Speaker 1: and good morning, Sean Aylmer. 6 00:00:15,680 --> 00:00:17,680 Speaker 2: Good morning, Michael, Sean. 7 00:00:17,720 --> 00:00:20,640 Speaker 1: Five stories, five minutes. Let's go. Story number one. Money 8 00:00:20,680 --> 00:00:24,360 Speaker 1: is pouring in for Kamala Harris, the most likely Democrat 9 00:00:24,440 --> 00:00:27,360 Speaker 1: nominee to run against Donald Trump in the US presidential 10 00:00:27,400 --> 00:00:28,680 Speaker 1: election in November. 11 00:00:29,000 --> 00:00:31,560 Speaker 2: In the seven hours after President Joe Biden said he 12 00:00:31,600 --> 00:00:34,960 Speaker 2: wouldn't run for president again, Liz Harris raised forty seven 13 00:00:35,000 --> 00:00:37,639 Speaker 2: million US dollars, the most of the Biden Harris campaign 14 00:00:37,680 --> 00:00:40,760 Speaker 2: has ever raised in one day. There's also one hundred 15 00:00:40,760 --> 00:00:43,000 Speaker 2: and fifty nine million US dollars of funds sitting with 16 00:00:43,080 --> 00:00:45,559 Speaker 2: Joe Biden, which would be transferred to Harris if she 17 00:00:45,640 --> 00:00:49,720 Speaker 2: becomes a nominee. That's looking extremely likely given mister Biden 18 00:00:49,760 --> 00:00:53,040 Speaker 2: nominated her to take on Donald Trump, though it's not assured. 19 00:00:53,320 --> 00:00:56,320 Speaker 2: A bunch of Democrat politicians in heavyweights have come out 20 00:00:56,360 --> 00:00:59,640 Speaker 2: in support of Kamala Harris, Bill and Hillary Clinton State 21 00:00:59,680 --> 00:01:04,600 Speaker 2: governor as Democratic senators. Now other top Democrats have challenged her. However, 22 00:01:05,120 --> 00:01:08,600 Speaker 2: not everyone has come out and openly supported her. Barack Obama, 23 00:01:08,640 --> 00:01:12,000 Speaker 2: for example, congratulated Joe Biden but withheld his support for 24 00:01:12,080 --> 00:01:15,560 Speaker 2: Carmala Harris. Meanwhile, plaudits from mister Biden came from around 25 00:01:15,600 --> 00:01:19,600 Speaker 2: the world, from Ukrainian President vladimir' Zlensky through to leaders 26 00:01:19,600 --> 00:01:23,120 Speaker 2: in Europe and Canada. The Trump camp weren't quite so positive. 27 00:01:23,200 --> 00:01:25,960 Speaker 2: The Republican nominee called mister Biden the worst president ever. 28 00:01:26,160 --> 00:01:28,720 Speaker 2: J D. E. Vans, Donald Trump's running mate, tweeted, if 29 00:01:28,800 --> 00:01:31,200 Speaker 2: Joe Biden ends his re election campaign, how can he 30 00:01:31,319 --> 00:01:32,640 Speaker 2: justify a remaining president? 31 00:01:33,080 --> 00:01:35,360 Speaker 1: What about locally Sean? What was the response here? 32 00:01:35,640 --> 00:01:38,360 Speaker 2: Prime Minister Anthony Albernez He said the US president will 33 00:01:38,400 --> 00:01:41,840 Speaker 2: be able to retire from public life with an extraordinary record. 34 00:01:42,080 --> 00:01:45,440 Speaker 2: He nominated climate change, the introduction of the Inflation Reduction Act, 35 00:01:45,480 --> 00:01:48,880 Speaker 2: his support for Ukraine, his COVID nineteen recovery efforts, and 36 00:01:48,960 --> 00:01:53,280 Speaker 2: his support for gender equality as highlights. Peter Dutton, opposition leader, 37 00:01:53,320 --> 00:01:55,960 Speaker 2: he also thanked the US president and pointed to security 38 00:01:56,200 --> 00:01:59,000 Speaker 2: to the security alliance between the US, UK and Australia 39 00:01:59,200 --> 00:02:01,920 Speaker 2: as among mister Iden's best achievements for US at least, 40 00:02:02,160 --> 00:02:05,320 Speaker 2: and Arthur Sentadinis, a former ambassador in Washington, he urged 41 00:02:05,360 --> 00:02:08,600 Speaker 2: the government not to react emotionally to the decision. He 42 00:02:08,639 --> 00:02:11,400 Speaker 2: wants to ensure Australia's interests are best served in the US, 43 00:02:11,760 --> 00:02:12,119 Speaker 2: all right. 44 00:02:12,160 --> 00:02:14,600 Speaker 1: Moving on to story number two, now, Woodside Energy will 45 00:02:14,600 --> 00:02:19,320 Speaker 1: buy US LNG company Tellurian for one point eight billion dollars, 46 00:02:19,440 --> 00:02:22,760 Speaker 1: as Australia's biggest oil and gas company extends its global reach. 47 00:02:23,040 --> 00:02:25,800 Speaker 2: Woodside chief executive Mego O'Neil so the deal will position 48 00:02:25,880 --> 00:02:28,720 Speaker 2: the company to tap global demand for LNG, making it 49 00:02:28,760 --> 00:02:32,320 Speaker 2: a powerhouse. She said. Having complementary positions in Australia in 50 00:02:32,360 --> 00:02:35,120 Speaker 2: the US will help capture markets across the Atlantic and 51 00:02:35,160 --> 00:02:39,080 Speaker 2: Pacific basins. The purchase is somewhat opportunistic. Tellurian has spent 52 00:02:39,200 --> 00:02:41,400 Speaker 2: years and hundreds of millions of dollars trying to finance 53 00:02:41,440 --> 00:02:44,959 Speaker 2: and build the Driftwood LLNG plant in Louisiana. Last week, 54 00:02:45,000 --> 00:02:47,440 Speaker 2: he said it was going to struggle to do that. Gas, 55 00:02:47,520 --> 00:02:50,200 Speaker 2: of course, is broadly now considered the most important transition 56 00:02:50,440 --> 00:02:53,480 Speaker 2: energy as the world shifts two renewables, people will be 57 00:02:53,560 --> 00:02:56,000 Speaker 2: using gas for decades to come. Woodside wants to take 58 00:02:56,000 --> 00:02:56,680 Speaker 2: advantage of that. 59 00:02:56,880 --> 00:03:00,320 Speaker 1: Story Number three. The number of Australians accessing the government's 60 00:03:00,360 --> 00:03:03,840 Speaker 1: reverse mortgage style product to help fund their retirement has 61 00:03:03,960 --> 00:03:06,639 Speaker 1: risen almost forty percent in the past year. 62 00:03:07,000 --> 00:03:10,040 Speaker 2: The nation's Home Equity Access scheme was used by thirty 63 00:03:10,120 --> 00:03:12,160 Speaker 2: four hundred and seventy nine people in the year to June, 64 00:03:12,240 --> 00:03:14,200 Speaker 2: more than double the amount who accessed it in the 65 00:03:14,240 --> 00:03:17,520 Speaker 2: corresponding period two years earlier, according to the Department of 66 00:03:17,520 --> 00:03:20,280 Speaker 2: Social Services. Under the program, people who have reached the 67 00:03:20,280 --> 00:03:22,880 Speaker 2: pension age of sixty seven can borrow against the equity 68 00:03:22,919 --> 00:03:25,240 Speaker 2: in their property and take out a government loan. Now, 69 00:03:25,240 --> 00:03:28,639 Speaker 2: according to Bloomberg, all this is occurring as a report 70 00:03:28,800 --> 00:03:32,320 Speaker 2: by the Actuaries Institute recommends policy changes to encourage more 71 00:03:32,360 --> 00:03:35,600 Speaker 2: people to utilize their value stored in the family home 72 00:03:36,160 --> 00:03:38,400 Speaker 2: or to downsize to a smaller property to help fund 73 00:03:38,400 --> 00:03:40,440 Speaker 2: the shortfall in their retirement savings. 74 00:03:40,760 --> 00:03:43,840 Speaker 1: A story number four Shawn. The latest opinion polls suggest 75 00:03:43,880 --> 00:03:47,520 Speaker 1: that neither Prime Minister Anthony Aberesi nor Opposition leader Peter 76 00:03:47,600 --> 00:03:50,440 Speaker 1: Dutton are particularly popular with the electorate at the moment. 77 00:03:50,840 --> 00:03:53,000 Speaker 2: Less than one third of voters say mister Alberesi is 78 00:03:53,000 --> 00:03:55,120 Speaker 2: their preferred leader of the Labor Party. It's the same 79 00:03:55,160 --> 00:03:57,160 Speaker 2: for mister Dutton and the Liberal Party. Head to head, 80 00:03:57,200 --> 00:03:59,640 Speaker 2: Anthony Albernesi comes out on top by seven points. But 81 00:03:59,720 --> 00:04:03,000 Speaker 2: the new poll conducted for The Australian suggests a minority 82 00:04:03,040 --> 00:04:06,240 Speaker 2: government is a possibility at the next election. Mister Alberanezi's 83 00:04:06,280 --> 00:04:08,960 Speaker 2: disapproval rating is now higher than mister Dunton's. On a 84 00:04:08,960 --> 00:04:11,520 Speaker 2: two party preferred vote, which historically has been a good 85 00:04:11,560 --> 00:04:14,520 Speaker 2: predictor of elections, Labour is in front fifty one percent 86 00:04:14,600 --> 00:04:17,000 Speaker 2: to forty nine percent, which is actually an improvement for 87 00:04:17,040 --> 00:04:19,640 Speaker 2: the government over the past six weeks. The next federal 88 00:04:19,680 --> 00:04:21,440 Speaker 2: poll must be held by May next year. 89 00:04:22,000 --> 00:04:24,880 Speaker 1: Last one story number five. The Olympics Sean are just 90 00:04:24,960 --> 00:04:27,920 Speaker 1: days away. In the Albanzi government, along with some states, 91 00:04:28,600 --> 00:04:32,679 Speaker 1: developing plans to force peak sporting organizations to set aside 92 00:04:32,800 --> 00:04:36,080 Speaker 1: a set number of board positions for women in exchange 93 00:04:36,080 --> 00:04:36,640 Speaker 1: for funding. 94 00:04:37,040 --> 00:04:39,440 Speaker 2: Almost fifty six percent and the four hundred and sixty 95 00:04:39,440 --> 00:04:42,240 Speaker 2: Australian athletes competing at the Paris Olympic Games of women. 96 00:04:42,520 --> 00:04:45,200 Speaker 2: Now that's the highest proportion in history, but last year, 97 00:04:45,279 --> 00:04:48,000 Speaker 2: just twenty five percent of board chairs across the sixty 98 00:04:48,040 --> 00:04:51,600 Speaker 2: five sports were women. According to finn Review, only twenty 99 00:04:51,600 --> 00:04:55,840 Speaker 2: two percent of chief executives were female. Sports Minister Anika Wells, 100 00:04:55,920 --> 00:04:58,280 Speaker 2: who is traveling to Paris for the Olympic Games, is 101 00:04:58,360 --> 00:05:01,640 Speaker 2: expected to announce the changes in co days. In late June, 102 00:05:01,640 --> 00:05:04,080 Speaker 2: the government announced half a billion dollars in Olympic funding, 103 00:05:04,080 --> 00:05:06,400 Speaker 2: a large portion of which was allocated to the Australian 104 00:05:06,440 --> 00:05:09,240 Speaker 2: Institute of Sport. The government's also double the amount of 105 00:05:09,240 --> 00:05:10,400 Speaker 2: funding for the Paralympics. 106 00:05:10,720 --> 00:05:12,640 Speaker 1: All right, there we go, the top five business stories 107 00:05:12,640 --> 00:05:16,200 Speaker 1: in five minutes. Thank you Sean, Thank you Michael. It's Tuesday, 108 00:05:16,279 --> 00:05:18,960 Speaker 1: the twenty third of July twenty twenty four. Remember to 109 00:05:19,000 --> 00:05:21,400 Speaker 1: hit follow on the podcast and if five minutes isn't enough, 110 00:05:21,400 --> 00:05:23,640 Speaker 1: you can find our longer daily show called Fear and 111 00:05:23,680 --> 00:05:26,720 Speaker 1: Greed wherever you listen to podcasts. I'm Michael Thompson and 112 00:05:26,800 --> 00:05:29,000 Speaker 1: that was the fast five business news by Fear and Greed. 113 00:05:29,240 --> 00:05:29,920 Speaker 1: Have a great day.