1 00:00:03,960 --> 00:00:07,000 Speaker 1: It's Wednesday, the twenty fourth of September twenty twenty five. 2 00:00:07,080 --> 00:00:09,920 Speaker 1: Welcome to the Fast five Business News by Fear and Greed, 3 00:00:09,920 --> 00:00:11,840 Speaker 1: where we give you the top five business stories you 4 00:00:11,880 --> 00:00:14,280 Speaker 1: need to know in just five minutes. I'm Michael Thompson 5 00:00:14,320 --> 00:00:15,760 Speaker 1: and good morning Sean Aylmer. 6 00:00:15,920 --> 00:00:17,360 Speaker 2: Good morning, Michael, Sean. 7 00:00:17,480 --> 00:00:19,760 Speaker 1: Five stories, five minutes. Let's go a story number one. 8 00:00:19,840 --> 00:00:23,759 Speaker 1: Meyer's share price tumbled twenty five percent yesterday after the 9 00:00:23,800 --> 00:00:27,480 Speaker 1: department store announced so thirty percent drop in profit, demonstrating 10 00:00:27,480 --> 00:00:31,520 Speaker 1: that not all discretionary retailers are benefiting from the economic pickup. 11 00:00:31,920 --> 00:00:34,320 Speaker 2: The biggest drag on Myers profit was Apparel Brands, a 12 00:00:34,400 --> 00:00:38,160 Speaker 2: portfollower of retailers including Just Jean's, Portman's, Dotty j Jason 13 00:00:38,240 --> 00:00:41,160 Speaker 2: Jackie that the group acquired from Solomon Lo's Premier Brands 14 00:00:41,200 --> 00:00:43,479 Speaker 2: earlier in the year. The bottom line profit of just 15 00:00:43,600 --> 00:00:45,800 Speaker 2: under thirty seven million dollars for the twelve months at 16 00:00:45,800 --> 00:00:48,640 Speaker 2: the end of July was world below market expectations. Maya 17 00:00:48,760 --> 00:00:52,559 Speaker 2: Exit's dividend. Chief executive Olivia Worth, who until last year 18 00:00:52,600 --> 00:00:55,480 Speaker 2: was running Quantus's frequent flyer program, said it's been a 19 00:00:55,520 --> 00:00:58,920 Speaker 2: year of transition, maybe even investors wondering whether the legacy 20 00:00:58,920 --> 00:01:02,760 Speaker 2: department store can keep up with more nimble, specialist bricks 21 00:01:02,760 --> 00:01:05,919 Speaker 2: and water retailers and online competitors. Worth said the growth 22 00:01:05,959 --> 00:01:08,960 Speaker 2: of the new brands would take time. Once they're integrated 23 00:01:09,000 --> 00:01:11,600 Speaker 2: into the Maya One loyalty program, things will get better. 24 00:01:11,959 --> 00:01:15,120 Speaker 2: Now so far, those brands definitely have struggled. The good 25 00:01:15,160 --> 00:01:16,800 Speaker 2: news is that training for the first six weeks of 26 00:01:16,800 --> 00:01:20,680 Speaker 2: the new financial year is tracking above expectations. Worth mentioned. 27 00:01:21,120 --> 00:01:23,240 Speaker 2: Maya also said it's been hit with a jump in 28 00:01:23,319 --> 00:01:26,120 Speaker 2: theft and violent behavior, and the company has added had 29 00:01:26,160 --> 00:01:30,200 Speaker 2: to add security to its stores. Incidents of threatening behavior 30 00:01:30,280 --> 00:01:34,160 Speaker 2: raise seventy nine percent, while antisocial behavior, which includes aggressive 31 00:01:34,160 --> 00:01:37,160 Speaker 2: behavior and physical abuse Michael increased eleven percent. 32 00:01:37,520 --> 00:01:40,199 Speaker 1: Now, Shaw and we know the economy is improving. Maya 33 00:01:40,280 --> 00:01:43,440 Speaker 1: is not going so well, but what retail stocks are well. 34 00:01:43,440 --> 00:01:46,080 Speaker 2: West Farmers is a standout. Of course, it's being driven 35 00:01:46,160 --> 00:01:48,559 Speaker 2: by Bunnings. That company's now worth more than one hundred 36 00:01:48,560 --> 00:01:51,240 Speaker 2: million dollars, a top five company on the AX. But JB. 37 00:01:51,400 --> 00:01:53,120 Speaker 2: Hi Fi and Harvey Norman are both at more than 38 00:01:53,160 --> 00:01:55,640 Speaker 2: fifty percent for the last year. Eager's Automotive, the car 39 00:01:55,720 --> 00:01:58,080 Speaker 2: dealership up nearly one hundred and seventy percent. A few 40 00:01:58,120 --> 00:02:00,400 Speaker 2: other things going on at that company. In terms of 41 00:02:00,440 --> 00:02:03,360 Speaker 2: the online space, Temple and Webster up more than one 42 00:02:03,440 --> 00:02:06,240 Speaker 2: hundred percent, compared that to my down fifty percent over 43 00:02:06,240 --> 00:02:08,440 Speaker 2: the past year, less than half of what it was 44 00:02:08,480 --> 00:02:09,600 Speaker 2: at the end of last December. 45 00:02:09,960 --> 00:02:13,080 Speaker 1: Story number two shown the fallout from Australia's decision to 46 00:02:13,120 --> 00:02:17,720 Speaker 1: recognize Palestinian statehood, including a snub for Prime Minister Anthony 47 00:02:17,720 --> 00:02:21,400 Speaker 1: Albernesi from Donald Trump, has sparked a bitter dispute between 48 00:02:21,440 --> 00:02:24,600 Speaker 1: the Coalition and the ALP on foreign policy, which is 49 00:02:24,600 --> 00:02:27,600 Speaker 1: an area where traditionally both parties actually worked together. 50 00:02:27,800 --> 00:02:30,320 Speaker 2: Opposition leader Susan Lee sided with Israel and wrote to 51 00:02:30,360 --> 00:02:33,520 Speaker 2: twenty five Republican members of Congress voicing her opposition to 52 00:02:33,760 --> 00:02:36,880 Speaker 2: Australia's move, saying a coalition government would rescind the decision. 53 00:02:37,160 --> 00:02:41,240 Speaker 2: Lee also spoke to Israel's foreign minister, something that foreign 54 00:02:41,280 --> 00:02:44,200 Speaker 2: Our Foreign Minister Penny Wong said was the king to 55 00:02:44,280 --> 00:02:47,519 Speaker 2: running a rogue foreign policy. Earlier, the Trump White House 56 00:02:47,520 --> 00:02:49,919 Speaker 2: had criticized Australia and its allies for moving ahead with 57 00:02:50,000 --> 00:02:55,120 Speaker 2: recognition of a Palestinian state. Also, the President confirmed he 58 00:02:55,160 --> 00:02:58,280 Speaker 2: has no plans to meet Anthony Alberzi this week. While 59 00:02:58,320 --> 00:03:01,440 Speaker 2: Alberanzi might get a handshake, a quick chatted a function, 60 00:03:01,600 --> 00:03:03,800 Speaker 2: that's about it. In his speech to the UN on 61 00:03:03,840 --> 00:03:07,560 Speaker 2: the issue Albanez, he said Israelis were already headed towards 62 00:03:07,560 --> 00:03:10,840 Speaker 2: annexation with the expansion of illegal settlements, a displacement of 63 00:03:10,840 --> 00:03:14,919 Speaker 2: Palestinians and increased settler violence. He said such conduct puts 64 00:03:14,919 --> 00:03:18,399 Speaker 2: a two state solution beyond breach and Palestinian recognition, means 65 00:03:18,400 --> 00:03:20,200 Speaker 2: people can have a place where they can call home, 66 00:03:20,560 --> 00:03:23,400 Speaker 2: as was once longed for by persecuted Jewish people. 67 00:03:23,880 --> 00:03:27,320 Speaker 1: Story number three, Climate Change and Energy Minister Chris Bowen 68 00:03:27,400 --> 00:03:30,880 Speaker 1: says climate denialism is still alive in the world, but 69 00:03:30,960 --> 00:03:32,560 Speaker 1: it's taken on different forms. 70 00:03:33,000 --> 00:03:36,360 Speaker 2: He said, one new form of climate denialism is all 71 00:03:36,400 --> 00:03:39,160 Speaker 2: to hardism. Lots of isms in there, which is about 72 00:03:39,160 --> 00:03:40,600 Speaker 2: why should we do this when the rest of the 73 00:03:40,640 --> 00:03:44,040 Speaker 2: world isn't. Bowen said that deniers and delayers are trying 74 00:03:44,040 --> 00:03:45,920 Speaker 2: to argue that the world is not proceeding with action 75 00:03:46,000 --> 00:03:48,360 Speaker 2: on climate change not true. He says two trillion dollars 76 00:03:48,400 --> 00:03:52,520 Speaker 2: of investment going into renewables twice investment as in fossil fuels. 77 00:03:52,520 --> 00:03:54,960 Speaker 2: In fact, at some point this year, renewables will over 78 00:03:55,040 --> 00:03:58,040 Speaker 2: take coal as the largest source of energy. According to Bowen. 79 00:03:58,280 --> 00:04:00,480 Speaker 2: He said that the growth of solar and bad was 80 00:04:00,480 --> 00:04:05,480 Speaker 2: transforming Australians into prosumers, producers and consumers of electricity at 81 00:04:05,520 --> 00:04:06,080 Speaker 2: the same time. 82 00:04:06,240 --> 00:04:09,120 Speaker 1: Story number four one from Wall Street sean where Nvidia 83 00:04:09,280 --> 00:04:11,960 Speaker 1: isn't just worth a lot of money as boss Jensen 84 00:04:12,040 --> 00:04:14,760 Speaker 1: Huang has become a bit of a king maker as well. 85 00:04:15,040 --> 00:04:17,960 Speaker 2: Yesterday, Hung announced Nvidia had agreed to invest one hundred 86 00:04:17,960 --> 00:04:20,520 Speaker 2: billion dollars into Open Ai to help it build and 87 00:04:20,520 --> 00:04:23,200 Speaker 2: employ at least ten gigawats of Nvidia systems to create 88 00:04:23,240 --> 00:04:25,560 Speaker 2: the next generation of AI models. Last week, he did 89 00:04:25,600 --> 00:04:28,360 Speaker 2: a five billion dollar deal with Intel art rival Intel. 90 00:04:28,640 --> 00:04:30,280 Speaker 2: It's part of the deal where the two companies will 91 00:04:30,279 --> 00:04:34,040 Speaker 2: sell products to each other. Basically, Nvidia invest in a 92 00:04:34,120 --> 00:04:38,200 Speaker 2: company and then those companies spend mega dollars buying Nvidia products. 93 00:04:38,240 --> 00:04:40,760 Speaker 2: Starts to look a little bit circular to me. Thing 94 00:04:40,800 --> 00:04:42,680 Speaker 2: is the market loves it, and Vidias share price jump 95 00:04:42,720 --> 00:04:44,840 Speaker 2: to three point five percent. That's one hundred and forty 96 00:04:44,839 --> 00:04:47,080 Speaker 2: five billion dollars, taking its market value to four and 97 00:04:47,080 --> 00:04:48,479 Speaker 2: a half trillion dollars. 98 00:04:48,520 --> 00:04:51,760 Speaker 1: Michael last one Sean story number five. US comedian Jimmy 99 00:04:51,800 --> 00:04:54,920 Speaker 1: Kimmel is returning to his late night talk show after 100 00:04:54,960 --> 00:04:58,080 Speaker 1: he was suspended for making jokes relating to the death 101 00:04:58,440 --> 00:05:00,680 Speaker 1: of conservative influencer ch Charlie Kirk. 102 00:05:01,160 --> 00:05:03,799 Speaker 2: Disney, which owns the US broadcast network that is Jimmy 103 00:05:03,839 --> 00:05:06,159 Speaker 2: Kimmel Live, said it suspended at the show because it 104 00:05:06,160 --> 00:05:09,000 Speaker 2: felt some of the comments were ill timed and thus insensitive. 105 00:05:09,080 --> 00:05:11,880 Speaker 2: The comics abrupt suspension came after threats by the federal 106 00:05:11,880 --> 00:05:16,520 Speaker 2: TV regulated to revoke ABC's broadcast license, sparking nationwide debates 107 00:05:16,560 --> 00:05:19,400 Speaker 2: over free speech. According to the BBC, US President Donald 108 00:05:19,400 --> 00:05:22,200 Speaker 2: Trump had welcomed Kimmel's suspension and suggested that some TV 109 00:05:22,320 --> 00:05:26,159 Speaker 2: networks should have their licenses taken for negative coverage of 110 00:05:26,200 --> 00:05:29,400 Speaker 2: the President. He wasn't talking, though, about Kimmel's return. 111 00:05:29,839 --> 00:05:32,200 Speaker 1: There we go the top five business stories in five minutes. 112 00:05:32,200 --> 00:05:34,760 Speaker 1: Thank you very much, Sean, Thank you, Michael. It is Wednesday, 113 00:05:34,839 --> 00:05:37,600 Speaker 1: the twenty fourth of September twenty twenty five. Remember to 114 00:05:37,680 --> 00:05:40,599 Speaker 1: hit follow on the podcast, and if five minutes isn't enough, 115 00:05:40,600 --> 00:05:42,880 Speaker 1: you can find our longer daily show called Fear and 116 00:05:43,000 --> 00:05:46,039 Speaker 1: Greed wherever you listen to podcasts, I'm Michael Thompson and 117 00:05:46,080 --> 00:05:48,320 Speaker 1: that was the Fast five Business news by Fear and Greed. 118 00:05:48,560 --> 00:05:49,280 Speaker 1: Had a great day.