1 00:00:03,880 --> 00:00:06,800 Speaker 1: It's Tuesday, the twenty fourth of June twenty twenty five. 2 00:00:06,880 --> 00:00:09,640 Speaker 1: Welcome to the Fast five Business News by Fear and Greed, 3 00:00:09,640 --> 00:00:11,480 Speaker 1: where we give you the top five business stories you 4 00:00:11,520 --> 00:00:14,000 Speaker 1: need to know in just five minutes. Are Michael Thompson 5 00:00:14,040 --> 00:00:17,720 Speaker 1: and Good Morning, Sean Aylmer, Good morning, Michael Shawn. Five stories, 6 00:00:17,720 --> 00:00:20,560 Speaker 1: five minutes. Let's go a story. Number one. US President 7 00:00:20,600 --> 00:00:25,040 Speaker 1: Donald Trump has raised the possibility of regime change in Iran, 8 00:00:25,160 --> 00:00:27,600 Speaker 1: hinting that the bombing of nuclear sites over the weekend 9 00:00:28,200 --> 00:00:29,240 Speaker 1: might just be the beginning. 10 00:00:29,560 --> 00:00:31,840 Speaker 2: In a run of social media posts, the US President 11 00:00:31,880 --> 00:00:35,120 Speaker 2: hailed the return of the Missions B two bombers, saying 12 00:00:35,159 --> 00:00:38,960 Speaker 2: the damage to Iran's nuclear sites was monumental his word, 13 00:00:39,000 --> 00:00:41,879 Speaker 2: and flated a scenario where the government in Tehran might collapse. 14 00:00:42,120 --> 00:00:44,960 Speaker 2: He said, if the current Iranian regime is unable, to 15 00:00:45,400 --> 00:00:49,440 Speaker 2: his words again, make Iran great again, why wouldn't there 16 00:00:49,520 --> 00:00:55,800 Speaker 2: be regime change? Earlier, Trump asserted on truth social that 17 00:00:55,800 --> 00:00:59,360 Speaker 2: that monumental damage occurred in the American attack. The way 18 00:00:59,480 --> 00:01:02,600 Speaker 2: US is on the strikes is still underway. The situation 19 00:01:02,680 --> 00:01:05,320 Speaker 2: is very volatile. With Iran's next move crucial does to 20 00:01:05,400 --> 00:01:08,520 Speaker 2: keep fighting against Israel does it extend to the US's 21 00:01:08,600 --> 00:01:11,560 Speaker 2: nineteen military sites in the Middle East. Israel's continuing its 22 00:01:11,600 --> 00:01:15,600 Speaker 2: attacks in Iran, targeting military hardware installations. Iranian state media 23 00:01:15,640 --> 00:01:19,360 Speaker 2: reported that their fence systems were firing in Tehran, Iran's capital, 24 00:01:19,520 --> 00:01:21,440 Speaker 2: while explosions could be heard in other cities. 25 00:01:21,880 --> 00:01:24,680 Speaker 1: Okay, what's been our response and what about the rest 26 00:01:24,720 --> 00:01:25,480 Speaker 1: of the world as well? 27 00:01:25,480 --> 00:01:28,960 Speaker 2: Shown well, the Australian government belatedly came out and supported 28 00:01:28,959 --> 00:01:32,280 Speaker 2: the US strikes in Iran. Anthony Albnezi, the PM, said 29 00:01:32,280 --> 00:01:34,520 Speaker 2: Australia didn't know of the attacks ahead of time. He 30 00:01:34,560 --> 00:01:37,160 Speaker 2: said he hasn't spoken to Trump. He said the government's 31 00:01:37,200 --> 00:01:39,840 Speaker 2: deeply concerned about the escalation of the Middle East, but 32 00:01:40,000 --> 00:01:44,320 Speaker 2: supports the prevention of Iran's access to nuclear weapons. Meanwhile, 33 00:01:44,360 --> 00:01:46,880 Speaker 2: the federal government said its decision to evacuate its embassy 34 00:01:46,880 --> 00:01:50,000 Speaker 2: staff in Tehran last week reflected fears that diplomats and 35 00:01:50,000 --> 00:01:53,800 Speaker 2: staff could be targeted for reprisals from any US attack. 36 00:01:54,120 --> 00:01:56,040 Speaker 2: In terms of the rest of the world, while many 37 00:01:56,080 --> 00:01:59,400 Speaker 2: Western nations sided with Washington, China said the US attack 38 00:01:59,440 --> 00:02:03,200 Speaker 2: had damaged the US's credibility in Beijing was concerned that 39 00:02:03,240 --> 00:02:07,120 Speaker 2: the situation may go out of control. Its words, Russia's 40 00:02:07,200 --> 00:02:10,079 Speaker 2: UN ambassador told an emergency meeting at the UN Security 41 00:02:10,080 --> 00:02:15,440 Speaker 2: Council that the US has opened a Pandora's box. Iran, 42 00:02:15,639 --> 00:02:19,400 Speaker 2: for its part, says the US decided to destroy diplomacy. 43 00:02:19,800 --> 00:02:22,040 Speaker 1: Okay, Moving on to story number two, which is of 44 00:02:22,080 --> 00:02:25,880 Speaker 1: course linked to that Commodity prices are rising, particularly oil 45 00:02:25,919 --> 00:02:28,960 Speaker 1: and grained as the Middle East conflicts sends shock waves 46 00:02:28,960 --> 00:02:29,679 Speaker 1: through markets. 47 00:02:30,120 --> 00:02:33,640 Speaker 2: This is where it could hit US directly. Commodities were 48 00:02:33,760 --> 00:02:36,280 Speaker 2: rising before the weekend's attacked by the US. They've jumped 49 00:02:36,320 --> 00:02:39,280 Speaker 2: even further during the past seventy two hours. The Bloomberg 50 00:02:39,400 --> 00:02:42,800 Speaker 2: Commodity Total Return INDECKS is up eight percent in June, 51 00:02:43,000 --> 00:02:45,600 Speaker 2: probably the strongest month since March twenty twenty two, when 52 00:02:45,680 --> 00:02:49,400 Speaker 2: Russia's invasion in Ukraine send energy and crop prices soaring. 53 00:02:49,680 --> 00:02:53,079 Speaker 2: The two big movers, oil prices up eleven percent. That 54 00:02:53,400 --> 00:02:56,360 Speaker 2: raises concerns about its sustained spike, and oil prices that 55 00:02:56,400 --> 00:02:59,639 Speaker 2: would feed through to petrol prices and wheat futures are 56 00:02:59,680 --> 00:03:02,200 Speaker 2: also at a two month high, part of its poor 57 00:03:02,200 --> 00:03:05,440 Speaker 2: growing conditions, but a lot of it's about fears to 58 00:03:05,720 --> 00:03:09,760 Speaker 2: the supply chain. Food supply disruption so been. Corn prices 59 00:03:09,880 --> 00:03:12,560 Speaker 2: are up as well. As I said, that's where we 60 00:03:12,600 --> 00:03:14,960 Speaker 2: could feel the impact most immediately. 61 00:03:15,360 --> 00:03:19,239 Speaker 1: Okay, story number three completely moving away now from the 62 00:03:19,240 --> 00:03:22,520 Speaker 1: Middle East shone. We're still about six weeks from earning season, 63 00:03:22,800 --> 00:03:25,400 Speaker 1: but grocery wholesale are met Cash, which has an end 64 00:03:25,400 --> 00:03:28,920 Speaker 1: of April balanced date, yesterday announced a strong half year 65 00:03:29,000 --> 00:03:31,800 Speaker 1: in its food business, but reported a twenty percent drop 66 00:03:31,840 --> 00:03:36,360 Speaker 1: in tobacco sales as the illegal trade of tobacco continues 67 00:03:36,400 --> 00:03:36,880 Speaker 1: to rise. 68 00:03:37,240 --> 00:03:40,320 Speaker 2: Revenue in the retail conglomeers core food business was up 69 00:03:40,360 --> 00:03:42,680 Speaker 2: eleven percent in the year to April thirty, Earnings grew 70 00:03:42,800 --> 00:03:45,840 Speaker 2: eighteen percent, share price up three percent. That's good news, 71 00:03:45,960 --> 00:03:50,080 Speaker 2: but Medcash, which supplies IgA Supermarkets, said tobacco sales have 72 00:03:50,160 --> 00:03:53,920 Speaker 2: fallen more than forty percent since twenty twenty one, as 73 00:03:54,000 --> 00:03:58,119 Speaker 2: higher exercises prompted a jump in black market sales. Apparently, 74 00:03:58,200 --> 00:04:00,320 Speaker 2: you can buy a pack of cigarettes for about twenty 75 00:04:00,360 --> 00:04:03,160 Speaker 2: dollars on the black market, what closer to fifty dollars 76 00:04:03,320 --> 00:04:07,000 Speaker 2: at IgA and everywhere else. Chief executive Doug Doug Jones 77 00:04:07,000 --> 00:04:10,360 Speaker 2: said it's independent retail network is competing well with its 78 00:04:10,400 --> 00:04:12,720 Speaker 2: two large rivals Coles and Woolli's. 79 00:04:12,680 --> 00:04:16,080 Speaker 1: Story Number four. ACDC, the biggest selling Australian band of 80 00:04:16,120 --> 00:04:18,320 Speaker 1: all time, will play their first local shows in a 81 00:04:18,360 --> 00:04:23,560 Speaker 1: decade this November, joining other megagroups Metallica and Oasis playing 82 00:04:23,600 --> 00:04:25,040 Speaker 1: in the country in that month. 83 00:04:25,600 --> 00:04:28,160 Speaker 2: Tickets for the ACDC Power Up Tour, which takes in 84 00:04:28,200 --> 00:04:32,360 Speaker 2: four state capitol stadiums, go on sale on Thursday. The 85 00:04:32,360 --> 00:04:35,440 Speaker 2: Bears formed in Sydney in nineteen seventy three. It sold 86 00:04:35,520 --> 00:04:38,280 Speaker 2: two hundred million albums worldwide. It still attracts thirty two 87 00:04:38,320 --> 00:04:41,440 Speaker 2: million listeners a month on Spotify. According to the AFR, 88 00:04:41,720 --> 00:04:45,440 Speaker 2: three hundred thousand plus tickets available for the five shows 89 00:04:45,440 --> 00:04:48,480 Speaker 2: are likely to sell out almost immediately. Last year, when 90 00:04:48,480 --> 00:04:51,720 Speaker 2: they announced their Power Up European leg, tickets went on 91 00:04:51,760 --> 00:04:54,880 Speaker 2: sale in one day, one point seven million of the 92 00:04:54,920 --> 00:04:59,400 Speaker 2: two million tickets were sold. Pretty phenomenal. November now has ACDC, 93 00:04:59,600 --> 00:05:04,240 Speaker 2: Oasi and Metallica playing while lead guitarist Angus Young. He 94 00:05:04,320 --> 00:05:07,560 Speaker 2: will be the acdc's sole remaining regional member on the tour, 95 00:05:07,839 --> 00:05:10,919 Speaker 2: Angus Young being seventy. Singer Brian Johnson has been in 96 00:05:10,920 --> 00:05:13,200 Speaker 2: the band for forty five year service, so he probably 97 00:05:13,240 --> 00:05:14,680 Speaker 2: qualifies too okay. 98 00:05:14,839 --> 00:05:18,280 Speaker 1: Last one story number five. Tesla's robo taxi service, which 99 00:05:18,320 --> 00:05:21,200 Speaker 1: has been touted by el mascreely is the future of 100 00:05:21,400 --> 00:05:26,240 Speaker 1: his somewhat troubled electric car maker, launched in the company's 101 00:05:26,240 --> 00:05:28,880 Speaker 1: home city of Austin over the weekend with about ten 102 00:05:28,960 --> 00:05:32,279 Speaker 1: vehicles and a human safety driver on board. A bid 103 00:05:32,760 --> 00:05:36,400 Speaker 1: regulatory scrutiny of the self driving technology. 104 00:05:36,680 --> 00:05:38,960 Speaker 2: Shares and Tesla have risen about fifty percent from this 105 00:05:39,080 --> 00:05:41,920 Speaker 2: year's low in early April, with investors hopeful the autonomous 106 00:05:42,120 --> 00:05:45,320 Speaker 2: riot haling service will help revive the company. Despite the 107 00:05:45,400 --> 00:05:49,240 Speaker 2: hype surrounding Tesla's robout taxi, the launch, with a company 108 00:05:49,240 --> 00:05:52,800 Speaker 2: employee seated in the passenger side for safety while leaving 109 00:05:52,839 --> 00:05:55,760 Speaker 2: the driver seat empty, was low key, and the initial 110 00:05:55,800 --> 00:05:58,479 Speaker 2: service was open only to a select group of social 111 00:05:58,560 --> 00:06:03,000 Speaker 2: media influencers, according to the FT. Shortly before the lunch, 112 00:06:03,160 --> 00:06:05,760 Speaker 2: Elon Musk said on social media that the robot taxi 113 00:06:05,800 --> 00:06:09,200 Speaker 2: service will begin with customers paying a four dollars twenty 114 00:06:09,480 --> 00:06:13,200 Speaker 2: flat fee. I like that it's a Tesla Model Y vehicle. 115 00:06:13,240 --> 00:06:17,080 Speaker 2: It will only operate in limited areas, avoid challenging intersections, 116 00:06:17,320 --> 00:06:20,080 Speaker 2: and have teleoperators who can intervene if problems arise. 117 00:06:20,440 --> 00:06:22,440 Speaker 1: All right, there we go the top five business stories 118 00:06:22,440 --> 00:06:23,080 Speaker 1: in five minutes. 119 00:06:23,120 --> 00:06:24,840 Speaker 2: Thank you very much, Sean, Thank you, Michael. 120 00:06:24,960 --> 00:06:28,160 Speaker 1: It is Tuesday, the twenty fourth of June twenty twenty five. 121 00:06:28,200 --> 00:06:30,600 Speaker 1: Remember to hit follow on the podcast, and if five 122 00:06:30,640 --> 00:06:33,640 Speaker 1: minutes isn't enough, you can find our longer daily show 123 00:06:33,720 --> 00:06:36,760 Speaker 1: called Fear and Greed wherever you listen to podcasts. I'm 124 00:06:36,760 --> 00:06:39,120 Speaker 1: Michael Thompson and that was the fast five business news 125 00:06:39,120 --> 00:06:43,760 Speaker 1: by Fear and Greed. Have a great day.