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Speaker 1: It's Tuesday, the fifteenth of April twenty twenty five. 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 and just five minutes. I'm Michael Thompson

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Speaker 1: and good morning.

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Speaker 2: Sean Ale, Good morning Michael Shawn.

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Speaker 1: Five stories, five minutes. Let's go a story. Number one.

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Speaker 1: Northern Star is set to buy out small Arrival to

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Speaker 1: Gray Mining in a five billion dollar deal, creating a

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Speaker 1: top twenty company on the ASX and continuing the consolidation

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Speaker 1: in the gold sector.

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Speaker 2: Degray's largest shareholder, gold Road Resources, has backed the deal,

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Speaker 2: meaning Northern Star should be able to buy the Wa

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Speaker 2: based miner with flagship operations in the Pilbra. Degray is

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Speaker 2: developing the Hemi Mine Hmi Mind and the price is

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Speaker 2: the highest ever for a potential gold mine. The Hemi

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Speaker 2: project is one of the country's best undeveloped gold projects.

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Speaker 2: The mine's thought to hold at least eleven million ounces

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Speaker 2: of gold. Seventy five percent of Degray's shareholders need to

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Speaker 2: vote for the deal. Now. Gold Road owns seventeen percent

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Speaker 2: of Degray, so that is a big tick of approval.

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Speaker 2: It comes amid gold prices hitting record levels. Some investment

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Speaker 2: banks reckon we'll get to four thousand US dolls announced.

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Speaker 2: It's about thirty two hundred US announced, which is about

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Speaker 2: fifty two hundred Ossie announce up twenty five percent this year.

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Speaker 2: Another deal on the go with South African based gold

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Speaker 2: fields bidding for gold roads. The majority shareholder were just

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Speaker 2: all the major shareholder we're just talking about. There's also

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Speaker 2: a proposed tie up between Spartan Resources and Romelias Resources.

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Speaker 1: A lot of companies, a lot of deals going on.

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Speaker 1: It's been a great year for gold miners Shaw. Nine

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Speaker 1: of the top ten stocks on the ASX two hundred

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Speaker 1: this year have been gold miners.

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Speaker 2: Yes. Total uncertainty and fear groupping financial markets great for

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Speaker 2: local gold companies. Central banks have been, in the words

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Speaker 2: of the World Gold Council, hoovering up gold at an

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Speaker 2: eye watering pace. In fact, one thousand tons in each

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Speaker 2: of the last three calendar years. Last year was a

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Speaker 2: record production years, including mind production and recycled gold came

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Speaker 2: in about five thousand tons. One area of gold not

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Speaker 2: doing so well, Michael Jewelry general sumption has actually dropped

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Speaker 2: eleven percent, though the value is higher. Australia is about

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Speaker 2: the third largest producer of gold in the world.

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Speaker 1: All right, moving on to story number two. Now, in

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Speaker 1: a chaotic week last week on market Sean, how did

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Speaker 1: the local market do yesterday?

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Speaker 2: It's actually very good for the market now. It rose

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Speaker 2: one point three percent to finish at seven hundred and

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Speaker 2: forty nine points. What's that really mean. Well, the tech

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Speaker 2: stocks bounced back on the you know that followed a

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Speaker 2: strong weekend on Wall Street for the tech stocks. The

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Speaker 2: big miners did well, as did healthcare and property stocks.

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Speaker 2: The big banks did well, so we ended up with

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Speaker 2: the big banks and the big miners both doing well.

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Speaker 2: If you have the banks and miners in Australia doing well,

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Speaker 2: then you're going to have a market that does well.

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Speaker 2: A lot of that was on the back of Donald

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Speaker 2: Trump winding back some of the tariffs and electronic goods

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Speaker 2: from China that prompted confidence in the market. I'll just

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Speaker 2: be interesting to see how the next few days go.

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Speaker 1: And story number three show on the Aussie dollar is

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Speaker 1: on the rise, at least against the green back.

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Speaker 2: It's back up to sixty three US since pretty much

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Speaker 2: a story about US dollar weakness, which against a basket

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Speaker 2: of trading currencies is at a three year low. The

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Speaker 2: greenback is actually down nearly ten percent against that basket

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Speaker 2: since Donald Trump took over. The Aussie against the eurodoy

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Speaker 2: remains at multi year lows. It's depreciated about eight percent

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Speaker 2: this year. Not good if you're going to Europe for

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Speaker 2: holidays at some point this year. Better if you're heading

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Speaker 2: the UK for that matter. Of the pounds trading round

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Speaker 2: a ten year high against the Aussie dollar. Against the end,

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Speaker 2: the Aussie is actually relatively strong.

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Speaker 1: Story number four in politics now sean oppositionally that to

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Speaker 1: Peter Dutton introduced his son Harry into the campaign yesterday

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Speaker 1: with a twenty year old saying that he and his

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Speaker 1: sister are struggling to say for a house.

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Speaker 2: Dutton was then asked whether he was going to help

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Speaker 2: his kids because he does have a multimillion dollar home portfolio.

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Speaker 2: He pretty much ignored it the question. But I thought

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Speaker 2: the Bank of Mum and Dad was actually a thing nowadays,

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Speaker 2: maybe not. The color Listen is pushing hard. It's pledged

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Speaker 2: to make mortgage payments for first home buyers tax deductible.

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Speaker 2: Peter Dutton also said migration cuts would help the housing market,

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Speaker 2: Prome Minister Anthony Albanez. He was on hustings of course

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Speaker 2: as well. He was pushing his housing policy which is

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Speaker 2: a five percent deposit for first homeowners. He spent time

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Speaker 2: packing meals at are not for profit and tired to

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Speaker 2: explain that very awkward no kiss between him and Tenure

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Speaker 2: plub sick over the weekend at the Labour Party launch

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Speaker 2: in Perth.

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Speaker 1: Very uncomfortable. Last one story number five. Six of the

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Speaker 1: top seven ranked industries for business closures in the last

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Speaker 1: twelve months SEAN are dependent on household discretionary spending.

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Speaker 2: Yes, this is where the cost of living crisis hits

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Speaker 2: the business road at least. Industries with the highest closure

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Speaker 2: rates are food and beverage and hospitality, administrative and support services,

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Speaker 2: and arts and recreation. All are facing a business closure

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Speaker 2: rate of more than six percent. Food and beverage is

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Speaker 2: above nine percent, a record level according to Credit or Watch.

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Speaker 2: These rates are at or above pre COVID levels, suggesting

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Speaker 2: the full impact of COVID now has pretty much washed

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Speaker 2: through the economy. Insolvencies remain elevated well they did in March,

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Speaker 2: broadly unchanged on but seventeen percent higher than twelve months

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Speaker 2: earlier as a share of total company registrations. That takes

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Speaker 2: account for the rise and the number of companies insolvencies

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Speaker 2: in our well above pre COVID rates.

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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 Tuesday, the fifteenth of April twenty twenty five. Remember

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Speaker 1: by six am. I'm Michael Thompson and that was the

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Speaker 1: fast by Business News by Fear and Greed. Had a

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Speaker 1: great day,