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Speaker 1: It's Friday, the eleventh of October twenty twenty four. Welcome

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

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Speaker 1: where 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 Sean Aylmer.

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Speaker 2: Good morning Michael, Sean.

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Speaker 1: Five stories in five minutes, five big stories today. Let's

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Speaker 1: get going with story number one. A busy day in

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Speaker 1: Cambery yesterday with the Alberanzer government announcing an overhaul of

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Speaker 1: the mergers regime and China dropping tariffs on lobsters.

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Speaker 2: Starting with mergers, treasure Jim Chalmers called it a really

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Speaker 2: important economic reform as he introduced legislation to scrap the

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Speaker 2: existing voluntary merger notification regime and introduced mandatory notification where

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Speaker 2: companies involved in mergers meet certain thresholds. That would mean

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Speaker 2: all supermarket mergers, for example, would spark a review by

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Speaker 2: the Competition watchdog. The new laws will also allow the

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Speaker 2: Treasurer to designate high risk parts of the economy where

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Speaker 2: the HBC will be able to review all mergers regardless

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Speaker 2: of whether they meet Keith thresholds. Elsewhere, Deputy Prime Minister

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Speaker 2: Richard Miles's chief of staff, Joe Tanorski, claims she was

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Speaker 2: bullied out of her job and barred from her office

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Speaker 2: after complaining about colleague's undermining behavior. Miss Tanorski alleges her

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Speaker 2: boss effectively sacked her without warning in a phone call

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Speaker 2: on April thirty. According to The Guardian, mister Miles says

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Speaker 2: he's satisfied he has upheld his responsibilities under the Ministerial

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Speaker 2: Code of Conduct in his treatment of his former chief

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Speaker 2: of staff.

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Speaker 1: And I mentioned lobsters before sewn. Prime Minister Anthony Ibernez

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Speaker 1: He met with Chinese Premier Lee Chung and afterwards said

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Speaker 1: Beijing will restart imports of Australia's live rock lobster trade

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Speaker 1: by the end of this year.

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Speaker 2: The major breakthrough clears the last of more than twenty

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Speaker 2: billion dollars in trade bands introduced by China. Mister Ailbenezi

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Speaker 2: said the imports were restart in time for the Chinese

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Speaker 2: New Year celebrations be big boost to export businesses in Australia.

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Speaker 2: Mister Chung was upbeat on Australia, saying the relationship had

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Speaker 2: continued to move forward. They were both at the Asian

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Speaker 2: Summit in Laos Others there include US State Secretary Anthony Blincoln,

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Speaker 2: Indian Prime Minister and Rendramoni, New Japanese PM Shaghiri Ishuba,

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Speaker 2: and Russian Foreign Minister Sergei Lovrov.

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Speaker 1: Yeah, that is good news. Now try and get to

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Speaker 1: head around the numbers. In story number two sean the

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Speaker 1: value of residential real estate in Australia has pushed beyond

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Speaker 1: eleven trillion dollars for the first time, up by nine

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Speaker 1: hundred billion dollars over the last year.

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Speaker 2: It would have been more but for slow growth in

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Speaker 2: home values over the September quarter, just one percent across

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Speaker 2: the nation, according to core Logic taking the annual pace

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Speaker 2: of price rises to six point seven percent. Sydney, Brisbane,

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Speaker 2: Adelaide and Perth Thrilling values are currently at a record high.

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Speaker 2: Certainly the market is cooling though days on market has

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Speaker 2: increased from twenty nine to thirty two days, Vendor discounting

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Speaker 2: is steady at about four percent, and the number of

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Speaker 2: listings is above the historical average. For the current week,

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Speaker 2: which ends on Saturday night, twy six hundred and twenty

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Speaker 2: one homes they are going to waction across the capital

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Speaker 2: City's the sixth busiest week of the Year.

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Speaker 1: Story number three. Some of the world biggest exchange traded

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Speaker 1: fund ETF providers have started offering defense ETFs on the ASX,

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Speaker 1: capitalizing on heightened international tensions and booming military spending.

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Speaker 2: Global X and BTA Shares this week launched defense ETFs

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Speaker 2: and van Neck listed its version last month. Global defense

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Speaker 2: bending has climbed for nine consecutive years, reaching a record

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Speaker 2: two point four trillion US dollars last year, according to

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Speaker 2: the Stockholm International Peace Research Institute. By twenty thirty, that's

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Speaker 2: expected to hit three point one trillion US dollars. Of course,

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Speaker 2: that means there's an investment opportunity, albeit one with some

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Speaker 2: uncomfortable undertones for some people. Vanneck launched a Global Defense

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Speaker 2: Fund in Europe last year. It's replicated it on the

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Speaker 2: AX now BT shares. ETF provides exposure to up to

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Speaker 2: sixty companies which derive at least half their revenues from

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Speaker 2: the development and manufacture of military and defense equipment. Lockheed

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Speaker 2: Martin's one BAA Systems, General Dynamics, Palenteer Technologies.

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Speaker 1: I want to story number four. Now it looks like

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Speaker 1: a May federal election is a pretty good bet. After

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Speaker 1: the government yesterday officially brought forward the twenty twenty five budget.

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Speaker 2: The release of the twenty twenty five schedule for Federal

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Speaker 2: Parliament shows the budget, which is normally the first Tuesday

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Speaker 2: in May, will be handed down on March twenty five,

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Speaker 2: now a bit of a precedent for this. Both the

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Speaker 2: twenty nineteen and twenty twenty two budgets were brought forward

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Speaker 2: to allow a May election. In both cases, the election

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Speaker 2: was announced after the budget once Parliament's dissolved and ritz

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Speaker 2: resued for the election. There's thirty three days needed before

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Speaker 2: a poll can take place if we follow the timetable

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Speaker 2: outlined yesterday. No reasons why we shouldn't. The earliest and

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Speaker 2: election could be held is May three, latest May seventeen.

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Speaker 1: Last one, sorry number five. Here's a novel idea. Sean

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Speaker 1: Portugal is planning to turn itself into a low tax

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Speaker 1: haven for young people by offering a decade of tax

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Speaker 1: breaks to people starting their careers in the country in

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Speaker 1: an effort to halt a growing brain drain.

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Speaker 2: I love the idea. The country center right government wants

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Speaker 2: to reduce the income tax burden on young people for

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Speaker 2: ten years, including a first year in which tax is paid.

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Speaker 2: The initiative underlines the urgency of reversing a debilitating outflow

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Speaker 2: of young people who are leaving one of the poorest

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Speaker 2: economies in Western Europe in search of better paid jobs abroad.

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Speaker 2: According to The Financial Times, Portuguese Prime Minister Louis Montenegro

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Speaker 2: was due to announced the PAN overnight, still got to

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Speaker 2: get through the parliament. Of course. The government is seeking

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Speaker 2: to tackle a combination of high taxes, low wages and

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Speaker 2: high housing costs that are driving many highly educated young

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Speaker 2: people out of the country. Mister Montenegro wants to keep

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Speaker 2: more people in the country and he wants a tax

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Speaker 2: system that is more youth friendly.

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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 Friday, the eleventh of October twenty twenty four. 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, we can find our longer daily show called

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Speaker 1: Fear and Greed wherever you listen to. Podcasts are Michael Thompson.

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Speaker 1: And that was the fast five business news by Fear

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Speaker 1: and Greed at a great day