1 00:00:03,840 --> 00:00:06,600 Speaker 1: It's Friday, the twenty first of June twenty twenty four. 2 00:00:06,800 --> 00:00:09,520 Speaker 1: Welcome to the Fast five Business News by Fear and Greed, 3 00:00:09,520 --> 00:00:11,280 Speaker 1: where we give you the top five business stories you 4 00:00:11,360 --> 00:00:13,880 Speaker 1: need to know when justus five minutes. I'm Michael Thompson 5 00:00:13,920 --> 00:00:15,360 Speaker 1: and good morning Sean Aylmer. 6 00:00:15,680 --> 00:00:17,280 Speaker 2: Good morning, Michael, Sean. 7 00:00:17,320 --> 00:00:19,960 Speaker 1: Five stories, five minutes. Let's go. Story number one. Good 8 00:00:20,040 --> 00:00:24,000 Speaker 1: Mini Gomez hit the ASX yesterday and found plenty of friends, 9 00:00:24,000 --> 00:00:27,120 Speaker 1: with its share price surging more than thirty nine percent 10 00:00:27,440 --> 00:00:30,320 Speaker 1: on opening before finishing up thirty six percent. 11 00:00:30,720 --> 00:00:33,600 Speaker 2: The listing price was twenty two bucks, and it jumped 12 00:00:33,600 --> 00:00:36,040 Speaker 2: to thirty one dollars or almost thirty one dollars before 13 00:00:36,040 --> 00:00:38,880 Speaker 2: closing it thirty dollars a share, meaning its market capitalization 14 00:00:38,960 --> 00:00:41,760 Speaker 2: pushed above three billion dollars. That's almost the size of 15 00:00:41,800 --> 00:00:44,640 Speaker 2: Domino's Pizza, which has a much larger footprint and a 16 00:00:44,720 --> 00:00:48,480 Speaker 2: longer history. Pretty successful first day for the Fast Food 17 00:00:48,520 --> 00:00:50,760 Speaker 2: Group with just one hundred and eighty five outlets, but 18 00:00:50,840 --> 00:00:53,040 Speaker 2: with big plans to hit one thousand stores and push 19 00:00:53,040 --> 00:00:55,480 Speaker 2: into North America. When we hit the balls at noon, 20 00:00:55,560 --> 00:00:58,920 Speaker 2: concept data suggested there were more than fifteen hundred buyers 21 00:00:58,920 --> 00:01:01,560 Speaker 2: out there they were chasing about two hundred thousand shares, 22 00:01:01,840 --> 00:01:04,920 Speaker 2: only forty four thousand were on offer, the biggest IPO 23 00:01:05,000 --> 00:01:08,040 Speaker 2: on the AX since APM Human Services in late twenty 24 00:01:08,080 --> 00:01:11,560 Speaker 2: twenty one. Its success could well encourage other companies to list, 25 00:01:11,760 --> 00:01:14,360 Speaker 2: so there were plenty of people beyond Goodsman Shareholder's pretty 26 00:01:14,360 --> 00:01:16,600 Speaker 2: happy with the performance yesterday, Sean. 27 00:01:16,640 --> 00:01:20,480 Speaker 1: Also, the van k Bitcoin Exchange traded fund launched yesterday. 28 00:01:20,480 --> 00:01:21,000 Speaker 1: How did that go? 29 00:01:21,400 --> 00:01:23,399 Speaker 2: Oh? It was much less fanfare about it, But what 30 00:01:23,600 --> 00:01:26,320 Speaker 2: happened yesterday as a result of the van Neck ETF 31 00:01:26,440 --> 00:01:29,880 Speaker 2: is probably far more influential than the Goosman flap. Vanx 32 00:01:29,880 --> 00:01:32,880 Speaker 2: ETF is the first for the AX, and the cost 33 00:01:32,880 --> 00:01:36,000 Speaker 2: to trade is zero point five nine one percent fifty 34 00:01:36,080 --> 00:01:39,880 Speaker 2: nine basis points. That's cheap. Global X also has a CRYPTOETF, 35 00:01:39,920 --> 00:01:42,480 Speaker 2: one for bitcoin. It's also got one for ethereum, but 36 00:01:42,560 --> 00:01:46,039 Speaker 2: it trades on CBOW, a much smaller competitor to the AX. 37 00:01:46,280 --> 00:01:49,360 Speaker 2: There's another group, Monochrome Asset Management, also has a Bitcoin 38 00:01:49,440 --> 00:01:52,640 Speaker 2: ETF on CBO. The fact that yesterday morning global x 39 00:01:52,640 --> 00:01:54,600 Speaker 2: cut the cost of trades from one hundred and twenty 40 00:01:54,640 --> 00:01:57,800 Speaker 2: five basis points to fifty nine basis points matching van 41 00:01:58,120 --> 00:02:01,960 Speaker 2: Ck shows how much vice competition has gone into the market. 42 00:02:02,520 --> 00:02:05,920 Speaker 2: It will become cheaper to trade crypto ETFs as a 43 00:02:05,920 --> 00:02:07,200 Speaker 2: result of what happened yesterday. 44 00:02:07,560 --> 00:02:11,440 Speaker 1: Interesting, Yeah, sure is now storry number two sean. It 45 00:02:11,480 --> 00:02:14,320 Speaker 1: is cold along the east coast of the country. That's 46 00:02:14,360 --> 00:02:16,360 Speaker 1: not the story. I mean, that is just a fact. 47 00:02:16,400 --> 00:02:18,760 Speaker 1: It is quite cold at the moment, and alongside a 48 00:02:18,840 --> 00:02:21,480 Speaker 1: lack of renewable power generation, there's a risk of gas 49 00:02:21,520 --> 00:02:23,600 Speaker 1: shortfalls hitting energy supplies. 50 00:02:24,120 --> 00:02:26,920 Speaker 2: The Australian Energy Market Operator has issued a threat notice 51 00:02:26,960 --> 00:02:29,399 Speaker 2: warning of the potential for gas supplies to run short 52 00:02:29,440 --> 00:02:32,440 Speaker 2: at peak times. We're talking New South Wales, Victoria. The 53 00:02:32,440 --> 00:02:36,919 Speaker 2: Act South Australia and Tasmania. Risk could last till September. 54 00:02:37,200 --> 00:02:40,120 Speaker 2: The shortage demonstrates the lack of investment in gas in 55 00:02:40,160 --> 00:02:43,240 Speaker 2: recent years, in part because of government policy, also the 56 00:02:43,320 --> 00:02:45,120 Speaker 2: need for gas to be an interim power source in 57 00:02:45,160 --> 00:02:48,160 Speaker 2: the transition to renewable energy. Part of the problem, according 58 00:02:48,160 --> 00:02:50,760 Speaker 2: to the gas industry, is the low amount of renewable generation, 59 00:02:51,080 --> 00:02:55,120 Speaker 2: particularly around wind. In the past three days, Michael average 60 00:02:55,280 --> 00:03:00,360 Speaker 2: renewable power generation in the electricity market was about twenty 61 00:03:00,400 --> 00:03:03,600 Speaker 2: one percent of the total energy used in Victoria not 62 00:03:03,680 --> 00:03:04,000 Speaker 2: a lot. 63 00:03:04,880 --> 00:03:08,359 Speaker 1: Storing Number three shawn Shopping at ALDI can save customers 64 00:03:08,360 --> 00:03:11,799 Speaker 1: about twenty five percent compared to buying coals and woolies. 65 00:03:12,200 --> 00:03:14,600 Speaker 1: This is according to a consumer group Choice. 66 00:03:14,440 --> 00:03:17,560 Speaker 2: That's based on a basket of fourteen commonly bought grocery items, 67 00:03:17,600 --> 00:03:21,040 Speaker 2: including milk, bread, sugar, tea bags, fruit, and veg now. 68 00:03:21,160 --> 00:03:25,399 Speaker 2: Choice used undercover shoppers to record prices from eighty one supermarkets. 69 00:03:25,520 --> 00:03:28,160 Speaker 2: It also included a few Ida stores. The cost of 70 00:03:28,200 --> 00:03:30,799 Speaker 2: Aldi was fifty one dollars fifty woolies sixty eight to 71 00:03:30,880 --> 00:03:34,560 Speaker 2: fifty eight coal sixty nine thirty three if you apply specials. 72 00:03:34,560 --> 00:03:37,760 Speaker 2: Woolies was just a little bit cheaper, but broadly Aldi's cheapest. 73 00:03:38,160 --> 00:03:40,120 Speaker 2: Not much difference between woolies and coals, and they are 74 00:03:40,120 --> 00:03:42,720 Speaker 2: a lot more expensive than Aldi. While the data is 75 00:03:42,760 --> 00:03:45,440 Speaker 2: a bit scarce, on IgA does appear to be more 76 00:03:45,480 --> 00:03:50,080 Speaker 2: expensive among the state's Western Australia's most expensive. Perhaps surprisingly, 77 00:03:50,200 --> 00:03:53,920 Speaker 2: capital cities are slightly more expensive than regional centers. According 78 00:03:53,920 --> 00:03:54,800 Speaker 2: to Choice and. 79 00:03:54,880 --> 00:03:58,120 Speaker 1: Storing Number four. More than half of all Australians don't 80 00:03:58,120 --> 00:04:00,680 Speaker 1: expect to fully own their own home by the time 81 00:04:00,720 --> 00:04:04,440 Speaker 1: they retire, and a similar proportion think they'll actually outlive 82 00:04:04,520 --> 00:04:05,880 Speaker 1: their retirement savings. 83 00:04:06,160 --> 00:04:08,880 Speaker 2: A survey by Vanguard shows that one in five Australians 84 00:04:08,880 --> 00:04:11,280 Speaker 2: that are renting in retirement and thirty percent expect to 85 00:04:11,320 --> 00:04:14,720 Speaker 2: still be paying a mortgage in retirement. Vanguard Australia Managing 86 00:04:14,720 --> 00:04:17,600 Speaker 2: Director Daniel Shrimsky calls it a slipper issue because most 87 00:04:17,720 --> 00:04:21,120 Speaker 2: fullcasts for retirement assume no housing debt, but that's not 88 00:04:21,200 --> 00:04:23,920 Speaker 2: the reality for most retirees. The twenty twenty four How 89 00:04:23,960 --> 00:04:26,839 Speaker 2: Australia Retires research shows that forty percent of Australians have 90 00:04:26,880 --> 00:04:30,000 Speaker 2: no clear plan for retirement. About half the population don't 91 00:04:30,000 --> 00:04:32,960 Speaker 2: know how much they pay in super fees. Increasingly, Australians 92 00:04:32,960 --> 00:04:35,120 Speaker 2: are worried that their money won't last in retirement, with 93 00:04:35,200 --> 00:04:38,400 Speaker 2: eighty percent of Ossie's somewhat or very worried about running 94 00:04:38,400 --> 00:04:41,440 Speaker 2: out of money. Mister Shrimsky says these research shows are 95 00:04:41,440 --> 00:04:45,320 Speaker 2: planning and having access to a financial advisor gives Australians 96 00:04:45,320 --> 00:04:47,400 Speaker 2: a better chance at a successful retirement. 97 00:04:48,000 --> 00:04:49,600 Speaker 1: All right, last one story number for I have a 98 00:04:49,600 --> 00:04:52,880 Speaker 1: pretty serious one sure on to finish on Energy demand 99 00:04:53,040 --> 00:04:57,480 Speaker 1: is growing faster than renewable's output, meaning that greenhouse gas 100 00:04:57,480 --> 00:05:00,520 Speaker 1: emissions from energy hit a record high last ye as 101 00:05:00,520 --> 00:05:03,560 Speaker 1: demand for fossil fuels rowse despite a big increase in 102 00:05:03,600 --> 00:05:04,400 Speaker 1: renewable power. 103 00:05:05,080 --> 00:05:08,279 Speaker 2: Energy emissions increased two percent in twenty twenty three to 104 00:05:08,320 --> 00:05:12,640 Speaker 2: exceed forty gigatons of carbon equivalent for the first time. 105 00:05:12,839 --> 00:05:16,480 Speaker 2: According to the Energy Institute's Statistical Review of World Energy, 106 00:05:16,680 --> 00:05:18,760 Speaker 2: The group said clean energy is still not even meeting 107 00:05:18,760 --> 00:05:22,200 Speaker 2: the entirety of demand growth, so arguably the energy transition 108 00:05:22,320 --> 00:05:25,520 Speaker 2: hasn't even started. According to report and The Financial Times, 109 00:05:25,839 --> 00:05:29,279 Speaker 2: fossil fuel use accelerated in high growth countries such as India, 110 00:05:29,360 --> 00:05:32,159 Speaker 2: but there were signs demand had reached a peak. In Europe, 111 00:05:32,320 --> 00:05:36,159 Speaker 2: US and other advanced economies. Fossil fuels share and the 112 00:05:36,240 --> 00:05:39,000 Speaker 2: energy mixed dips slightly, but it's still eighty one and 113 00:05:39,000 --> 00:05:39,720 Speaker 2: a half percent. 114 00:05:40,120 --> 00:05:41,839 Speaker 1: All right, there, we go to the top five business 115 00:05:41,880 --> 00:05:44,760 Speaker 1: stories in five minutes. Thank you Sean, Thank you Michael. 116 00:05:45,000 --> 00:05:47,560 Speaker 1: It is Friday, the twenty first of June twenty twenty four. 117 00:05:47,680 --> 00:05:50,080 Speaker 1: Remember to hit follow on the podcast and five minutes 118 00:05:50,120 --> 00:05:52,599 Speaker 1: isn't enough. You can find our longer daily show called 119 00:05:52,640 --> 00:05:55,640 Speaker 1: Fear and Greed wherever you listen to podcasts, and don't 120 00:05:55,680 --> 00:05:57,919 Speaker 1: forget to check out our other podcast called how Do 121 00:05:57,960 --> 00:06:00,200 Speaker 1: They Afford That, all about making your money work a 122 00:06:00,240 --> 00:06:03,719 Speaker 1: little bit harder for you. This week's episode is about budgets. 123 00:06:03,960 --> 00:06:07,920 Speaker 1: Five different methods of budgeting your money and some are 124 00:06:07,960 --> 00:06:10,440 Speaker 1: clearly better than others. I'm Michael Thompson and that was 125 00:06:10,440 --> 00:06:12,760 Speaker 1: the Fast five Business News by Fear and Greed. Have 126 00:06:12,839 --> 00:06:15,480 Speaker 1: a great day.