1 00:00:03,880 --> 00:00:07,040 Speaker 1: It's Wednesday, the thirteenth of November twenty twenty four. Welcome 2 00:00:07,080 --> 00:00:09,080 Speaker 1: to the Fast five by Fear and Greed, where we 3 00:00:09,119 --> 00:00:11,160 Speaker 1: give you the top five business stories you need to 4 00:00:11,200 --> 00:00:14,480 Speaker 1: know in just five minutes. I'm Adam Lange and good morning, 5 00:00:14,560 --> 00:00:18,400 Speaker 1: Sean Ailmer. Good morning, Adam, Sean story number one this morning, 6 00:00:18,480 --> 00:00:21,439 Speaker 1: the Federal government has pledged eighty million dollars to keep 7 00:00:21,520 --> 00:00:25,320 Speaker 1: REX flying regional routes, as new figures show domestic airfares 8 00:00:25,360 --> 00:00:29,920 Speaker 1: have risen sharply since Regional Express stop flying major city routes. 9 00:00:30,480 --> 00:00:33,279 Speaker 2: Yes, Regional Express will get eighty million dollars, workers will 10 00:00:33,320 --> 00:00:35,919 Speaker 2: get paid. Flights will keep going until June next year, 11 00:00:35,920 --> 00:00:38,120 Speaker 2: which is important because that's after the next federal election. 12 00:00:38,680 --> 00:00:41,760 Speaker 2: The federal government continues to guarantee seats for passengers who 13 00:00:41,760 --> 00:00:44,400 Speaker 2: purchase tickets with REX, bit of a saw point for 14 00:00:44,400 --> 00:00:46,640 Speaker 2: the Feds on this one. Prime Minister Anthony Albanezi has 15 00:00:46,640 --> 00:00:49,120 Speaker 2: been criticized for being way too close to the former 16 00:00:49,159 --> 00:00:52,199 Speaker 2: boss of Quantas, Alan Joyce. All this comes as the 17 00:00:52,200 --> 00:00:56,240 Speaker 2: Australian Competition and Commission Consumer Commission puts out its latest 18 00:00:56,440 --> 00:00:59,640 Speaker 2: report on the airline industry. It shows that since the 19 00:00:59,720 --> 00:01:02,280 Speaker 2: end of July, prices on big city routes are up 20 00:01:02,320 --> 00:01:05,760 Speaker 2: more than thirteen percent thirty percent in three months, even 21 00:01:05,800 --> 00:01:08,880 Speaker 2: though fuel costs are forty percent lower than a year ago. 22 00:01:08,920 --> 00:01:11,360 Speaker 2: Fuel costs for about twenty percent of the full cost 23 00:01:11,440 --> 00:01:14,680 Speaker 2: for an airline. The report says domestic airline passengers face 24 00:01:14,760 --> 00:01:17,039 Speaker 2: less choice and higher airfares because of the demise of 25 00:01:17,280 --> 00:01:20,920 Speaker 2: REX services between metropolitan cities. September is a busy time 26 00:01:20,920 --> 00:01:23,000 Speaker 2: because of sporting events, but the watchdog said most of 27 00:01:23,040 --> 00:01:26,679 Speaker 2: the fair hikes reflected lesser competition. Adelaide de Melbourne, for example, 28 00:01:26,680 --> 00:01:28,560 Speaker 2: was up ninety five percent Melbourne and the Goal Coast 29 00:01:28,600 --> 00:01:31,320 Speaker 2: seventy percent. Camber to Melbourne fifty four percent. In terms 30 00:01:31,360 --> 00:01:33,880 Speaker 2: of cancelation stats got us high as three percent in July, 31 00:01:34,000 --> 00:01:36,480 Speaker 2: back to two percent. Good news on time arrivals about 32 00:01:36,520 --> 00:01:40,240 Speaker 2: seven and a sorry seventy five point five percent. The 33 00:01:40,280 --> 00:01:42,199 Speaker 2: A TRIBLEC warned that it may be some time before 34 00:01:42,200 --> 00:01:45,720 Speaker 2: another airline emerges on busy city routes. Read between the lines, 35 00:01:45,760 --> 00:01:47,760 Speaker 2: and that suggests that we're still going to have high 36 00:01:47,800 --> 00:01:49,640 Speaker 2: domestic airfares for a while Sean. 37 00:01:49,680 --> 00:01:52,200 Speaker 1: The A TRIBLEC report is part of the government's push 38 00:01:52,240 --> 00:01:55,840 Speaker 1: to better monitor what's going on. A little surprising yesterday 39 00:01:55,960 --> 00:01:57,800 Speaker 1: was the response back from Quantus. 40 00:01:58,160 --> 00:02:00,360 Speaker 2: Yeah, they came out finding They said the data doesn't 41 00:02:00,360 --> 00:02:04,520 Speaker 2: really reflect average airfares being paid. It's a snapshot of 42 00:02:04,560 --> 00:02:07,760 Speaker 2: lowest fares available in a particular three weeks now. This 43 00:02:07,880 --> 00:02:10,200 Speaker 2: three weeks was up until October thirty one, is when 44 00:02:10,240 --> 00:02:13,359 Speaker 2: Melbourne hosted Coldplay. Everyone had snapped up the cheap fares 45 00:02:13,440 --> 00:02:17,760 Speaker 2: and so their own expensive fares available. Quantas said that 46 00:02:18,160 --> 00:02:21,680 Speaker 2: airfare prices have increased over the past twelve months, broadly 47 00:02:21,720 --> 00:02:22,720 Speaker 2: in line with inflation. 48 00:02:23,200 --> 00:02:26,120 Speaker 1: Sean story number two. Australians are feeling just a little 49 00:02:26,120 --> 00:02:29,200 Speaker 1: bit more upbeat, with consumer sentiment hitting its highest level 50 00:02:29,360 --> 00:02:32,000 Speaker 1: since the Reserve Bank started hiking interest rates. 51 00:02:32,480 --> 00:02:37,079 Speaker 2: The west Pact Melbourne Institute Consumer Sentiment Survey basically said 52 00:02:37,120 --> 00:02:39,800 Speaker 2: that people are less worried about rate rises now. The 53 00:02:39,800 --> 00:02:41,359 Speaker 2: outlook r income is pretty good. In the back of 54 00:02:41,400 --> 00:02:43,120 Speaker 2: the labor market, the index is up to eighty four 55 00:02:43,160 --> 00:02:46,560 Speaker 2: point six, still negative territory still more peesasimists than optimists, 56 00:02:46,560 --> 00:02:48,840 Speaker 2: but it's up about twenty one percent from its low 57 00:02:48,880 --> 00:02:51,800 Speaker 2: point in late twenty twenty two. Good sign for retailers 58 00:02:51,800 --> 00:02:55,440 Speaker 2: with Christmas coming up. Wasn't perfect time to buy a 59 00:02:55,440 --> 00:02:59,240 Speaker 2: household good. That's one of those measures that economists really like. 60 00:02:59,520 --> 00:03:02,040 Speaker 2: That pretty weak. But if you look at the economic outlook, 61 00:03:02,080 --> 00:03:05,400 Speaker 2: family finances, stuff like that, it's looking pretty good just quickly. 62 00:03:05,480 --> 00:03:08,640 Speaker 2: Businesses also are more upbeat. The National Australia Bank Business 63 00:03:08,680 --> 00:03:11,840 Speaker 2: Survey came out yesterday. It says business conditions pushed up 64 00:03:11,840 --> 00:03:16,079 Speaker 2: at touch, but confidence readings jumped sharply. Inflation measures measures 65 00:03:16,120 --> 00:03:19,480 Speaker 2: are also showing containment in price rises. Employment reading in 66 00:03:19,520 --> 00:03:22,160 Speaker 2: the survey is weekening somewhat. You'd expect that bottom line 67 00:03:22,240 --> 00:03:24,040 Speaker 2: consumers and businesses are more confident. 68 00:03:24,520 --> 00:03:27,760 Speaker 1: Sean story number three. United States President elect Donald Trump 69 00:03:27,880 --> 00:03:31,079 Speaker 1: last week told Prime Minister Anthony Alberanzi that Australia and 70 00:03:31,120 --> 00:03:33,920 Speaker 1: the US would enjoy a perfect relationship. 71 00:03:34,360 --> 00:03:37,800 Speaker 2: Yes, so mister Alberzi has never met mister Trump. The 72 00:03:37,800 --> 00:03:40,000 Speaker 2: opposition is calling on mister Alberzi to head to the 73 00:03:40,080 --> 00:03:42,800 Speaker 2: US to make sure tariffs aren't imposed on ze exports. 74 00:03:42,920 --> 00:03:46,120 Speaker 2: Is this said than done? In response to Anthony Alberzi yesterday, 75 00:03:46,120 --> 00:03:48,400 Speaker 2: and I quote he described the relationship we would have 76 00:03:48,480 --> 00:03:51,360 Speaker 2: as a perfect friendship. And I'm very confident that the relationship 77 00:03:51,360 --> 00:03:53,880 Speaker 2: between Australia and the United States will continue to be 78 00:03:54,000 --> 00:03:57,520 Speaker 2: very strongbo flies to Peru today for the APEC summit 79 00:03:57,560 --> 00:03:59,560 Speaker 2: and then to Brazil for the G twenty conference. 80 00:04:00,200 --> 00:04:03,360 Speaker 1: Seawn Stey Number four. COLES held its annual general meeting 81 00:04:03,400 --> 00:04:06,520 Speaker 1: yesterday and Chair James Graham said it is disappointing to 82 00:04:06,560 --> 00:04:09,120 Speaker 1: see cost of living issues being politicized. 83 00:04:10,480 --> 00:04:14,080 Speaker 2: What does he expect really, he said, goals is sensitive 84 00:04:14,080 --> 00:04:17,640 Speaker 2: to economic to the economic health of households. He highlighted 85 00:04:17,839 --> 00:04:21,839 Speaker 2: how closely supermarkets and the governments worked together during COVID 86 00:04:21,880 --> 00:04:24,880 Speaker 2: and bushfires and flood periods. Now, of course, the HBLEC 87 00:04:25,040 --> 00:04:27,039 Speaker 2: has taken Coals and Willas to court alleging them of 88 00:04:27,080 --> 00:04:29,799 Speaker 2: sham discounts. Mister grahams at Coles was committed to ensuring 89 00:04:29,839 --> 00:04:31,479 Speaker 2: it does the right thing. In fact, he said, a 90 00:04:31,480 --> 00:04:33,640 Speaker 2: basket of goods in Australia over the last five years 91 00:04:33,720 --> 00:04:36,799 Speaker 2: is up about twenty four percent. That's blow New Zealand, 92 00:04:36,800 --> 00:04:39,320 Speaker 2: below Canada, the UK and the US, and in fact 93 00:04:39,320 --> 00:04:42,400 Speaker 2: it's below the OECD average which is thirty nine percent. 94 00:04:42,760 --> 00:04:46,720 Speaker 1: Sewan Stey Number five How far can bitcoin run? So 95 00:04:46,839 --> 00:04:49,760 Speaker 1: far it's gone through US seventy eight thousand eighty two 96 00:04:49,800 --> 00:04:52,640 Speaker 1: thousand and eighty six thousand unit, and now it's within 97 00:04:52,720 --> 00:04:55,159 Speaker 1: reach of US ninety thousand dollars a unit. 98 00:04:55,560 --> 00:04:59,400 Speaker 2: Since last week's selection, Bitcoin is up thirty percent US selection. 99 00:04:59,440 --> 00:05:02,839 Speaker 2: I'm talking here the cryptocurrency's market capitalization. The value of 100 00:05:02,880 --> 00:05:06,640 Speaker 2: bitcoin out there is over three trillion US dollars yesterday 101 00:05:06,640 --> 00:05:08,440 Speaker 2: morning at jump ten percent to a fresh high of 102 00:05:08,520 --> 00:05:11,640 Speaker 2: just under ninety thousand US dollars a unit. With ETF 103 00:05:11,680 --> 00:05:14,640 Speaker 2: Investing leading the way, Bitcoin is more than double in 104 00:05:14,640 --> 00:05:17,680 Speaker 2: twenty twenty four. Pundits now reckon one hundred thousand US 105 00:05:17,760 --> 00:05:21,400 Speaker 2: dollars a unit is within reach. What a turnaround. It's 106 00:05:21,400 --> 00:05:24,680 Speaker 2: all about Donald Trump winning and the Congress, which is 107 00:05:24,720 --> 00:05:28,839 Speaker 2: the state end the House being full of pro crypto politicians. 108 00:05:29,200 --> 00:05:31,920 Speaker 1: That's it, the top five business stories in just five minutes. 109 00:05:32,000 --> 00:05:34,880 Speaker 1: Thank you Sean, Thank you Adam. It's Wednesday, the thirteenth 110 00:05:34,920 --> 00:05:37,400 Speaker 1: of November twenty twenty four. Remember to hit follow on 111 00:05:37,440 --> 00:05:39,960 Speaker 1: the podcast, and if five minutes is not enough, then 112 00:05:40,040 --> 00:05:42,920 Speaker 1: find our longer podcast called Fear and Greed on your 113 00:05:42,960 --> 00:05:45,919 Speaker 1: favorite podcast platform. I'm Adam Lang and that was the 114 00:05:45,920 --> 00:05:48,279 Speaker 1: Fast five by Fear and Greed. Have a great day.