1 00:00:03,800 --> 00:00:06,800 Speaker 1: It's Thursday, the seventh of November twenty twenty four. Welcome 2 00:00:06,840 --> 00:00:08,840 Speaker 1: to the Fast Five by Fear and Greed, where we 3 00:00:08,880 --> 00:00:10,840 Speaker 1: give you the top five business stories you need to 4 00:00:10,880 --> 00:00:14,080 Speaker 1: know in just five minutes. I'm Adam Lang and good morning, 5 00:00:14,120 --> 00:00:14,720 Speaker 1: Sean Almer. 6 00:00:15,000 --> 00:00:16,040 Speaker 2: Good morning, Adam. 7 00:00:16,560 --> 00:00:19,520 Speaker 1: Story number one and the main story this morning, Donald 8 00:00:19,520 --> 00:00:21,960 Speaker 1: Trump has claimed victory and is set to become the 9 00:00:22,000 --> 00:00:25,600 Speaker 1: forty seventh president of the United States after winning crucial 10 00:00:25,640 --> 00:00:28,760 Speaker 1: battleground states like Pennsylvania and the US election. 11 00:00:29,240 --> 00:00:31,480 Speaker 2: In the end, Adam, it wasn't as close as expected, 12 00:00:31,520 --> 00:00:35,320 Speaker 2: with Trump claiming other key states including Georgia and North Carolina. 13 00:00:35,400 --> 00:00:38,120 Speaker 2: Talking outside Marra Lago, Trump forecast a golden age for 14 00:00:38,159 --> 00:00:41,559 Speaker 2: the US, saying he'd been given an unprecedented and powerful mandate. 15 00:00:41,600 --> 00:00:44,280 Speaker 2: He was speaking a couple of hours before the election 16 00:00:44,520 --> 00:00:47,960 Speaker 2: was even called for him. While counting in battleground states 17 00:00:47,960 --> 00:00:51,800 Speaker 2: like Michigan, Arizona, Nevada, and Wisconsin, continues Donald Trump could 18 00:00:51,800 --> 00:00:54,440 Speaker 2: well sweep them, meaning he'd end up with not just 19 00:00:54,480 --> 00:00:57,440 Speaker 2: a majority of electoral votes, but probably a popular majority 20 00:00:57,480 --> 00:00:59,640 Speaker 2: as well. The Republicans are set to win control of 21 00:00:59,640 --> 00:01:02,280 Speaker 2: the Senate, while the House of Reps remains in balance. 22 00:01:02,640 --> 00:01:06,280 Speaker 2: While there were sporadic reports of interruption to voting, including 23 00:01:06,280 --> 00:01:10,400 Speaker 2: hoax bomb threats, the election rn relatively smoothly. Exit polls 24 00:01:10,440 --> 00:01:12,680 Speaker 2: showed that the number one issue for thirty five percent 25 00:01:12,680 --> 00:01:16,080 Speaker 2: of voters was the fate of American democracy. Number two 26 00:01:16,200 --> 00:01:19,360 Speaker 2: was the economy for thirty one percent voters. Abortion was 27 00:01:19,400 --> 00:01:23,600 Speaker 2: cited by fourteen percent and immigration just eleven percent. Last night, 28 00:01:23,640 --> 00:01:26,160 Speaker 2: world leaders, including the heads of France, the UK, Israel, 29 00:01:26,400 --> 00:01:28,840 Speaker 2: and Ukraine congratulated mister Trump. 30 00:01:29,280 --> 00:01:31,520 Speaker 1: Suan and it seems markets were confident of a Trump 31 00:01:31,600 --> 00:01:34,160 Speaker 1: victory as well, with the US dollar jumping and Bitcoin 32 00:01:34,280 --> 00:01:35,160 Speaker 1: hitting a new record. 33 00:01:35,520 --> 00:01:38,040 Speaker 2: Yeah, sure does. The US dollar is up one and 34 00:01:38,080 --> 00:01:40,319 Speaker 2: a half percent against major currencies. That was the biggest 35 00:01:40,319 --> 00:01:42,880 Speaker 2: one day move since March twenty, twenty four month high. 36 00:01:42,920 --> 00:01:45,720 Speaker 2: The Aussie dollar as a result, was a casualty. It's 37 00:01:45,760 --> 00:01:48,200 Speaker 2: trading around sixty five US sense. Bitcoin hit an all 38 00:01:48,240 --> 00:01:52,120 Speaker 2: time record of seventy four four hundred US dollars a unit. 39 00:01:52,360 --> 00:01:55,600 Speaker 2: Donald Trump, during the campaign came out as a crypto fan. 40 00:01:56,120 --> 00:01:58,600 Speaker 2: It's up bitcoins up eighty percent this year the local 41 00:01:58,600 --> 00:02:01,720 Speaker 2: crypto exchange. He said volume were high yesterday, with the 42 00:02:01,920 --> 00:02:04,760 Speaker 2: US dollars so high some commodities felt the pressure. Copp Of, 43 00:02:04,800 --> 00:02:07,920 Speaker 2: for example, was lower. Goal's the outlier. It's still trading 44 00:02:07,920 --> 00:02:10,960 Speaker 2: close to record highs. Bon Neils also rose. Now Trump's 45 00:02:10,960 --> 00:02:14,760 Speaker 2: plans to restrict immigration and place tariffs on imports are inflationary. 46 00:02:15,120 --> 00:02:18,040 Speaker 2: That could mean higher for longer interest rates, Hence bon 47 00:02:18,120 --> 00:02:19,000 Speaker 2: Niles rose. 48 00:02:19,680 --> 00:02:22,959 Speaker 1: Story number two. Sean Prime Minister Anthony Alberanizi was quick 49 00:02:22,960 --> 00:02:25,239 Speaker 1: to come out and say that Australia's relationship with the 50 00:02:25,360 --> 00:02:28,239 Speaker 1: USA will remain strong no matter who wins the election. 51 00:02:28,960 --> 00:02:31,720 Speaker 2: That's right, and he was speaking before we knew who 52 00:02:31,800 --> 00:02:34,280 Speaker 2: the winner was, or before we thought that Donald Trump 53 00:02:34,320 --> 00:02:36,080 Speaker 2: would be the winner. He said, the election of a 54 00:02:36,120 --> 00:02:38,800 Speaker 2: new president is always a moment of profound consequence for 55 00:02:38,840 --> 00:02:40,920 Speaker 2: the world and for our region. He said the alliance 56 00:02:40,960 --> 00:02:43,680 Speaker 2: between the US and Australia has always been bigger than 57 00:02:43,720 --> 00:02:46,680 Speaker 2: any individual. He paid tribute to Joe Biden as well, 58 00:02:46,919 --> 00:02:50,000 Speaker 2: calling him a friend. We'll just have to wait and 59 00:02:50,040 --> 00:02:52,679 Speaker 2: see how it works out with Donald Trump and Australia 60 00:02:52,919 --> 00:02:57,720 Speaker 2: last time round. Broadly, Donald Trump, he ratified the Quiet Agreement, 61 00:02:57,760 --> 00:03:01,040 Speaker 2: for example, between Japan, India, Australia in the US, so 62 00:03:01,120 --> 00:03:03,480 Speaker 2: he certainly wasn't anti Australia. 63 00:03:03,680 --> 00:03:07,639 Speaker 1: Story number three Shawn National Senator and Opposition Transport spokesperson 64 00:03:07,680 --> 00:03:11,440 Speaker 1: Bridget Mackenzie failed to declare more than a dozen free 65 00:03:11,600 --> 00:03:15,600 Speaker 1: flight upgrades in breach of Senate disclosure rules OUCH. 66 00:03:15,760 --> 00:03:18,480 Speaker 2: A bit of an embarrassing back down this one. Senator 67 00:03:18,520 --> 00:03:21,399 Speaker 2: Mackenzie was a person who led the attacks on Anthony Albernesi. 68 00:03:22,000 --> 00:03:24,880 Speaker 2: She previously has said she hadn't received any perks. Of course, 69 00:03:24,919 --> 00:03:27,919 Speaker 2: this is all about whether or not Anthony Alberzi rang 70 00:03:28,120 --> 00:03:32,720 Speaker 2: the then CEO of Quantas, Alan Joyce, and asked for upgrades. 71 00:03:33,240 --> 00:03:35,680 Speaker 2: His officers come out and said that didn't happen. It 72 00:03:35,720 --> 00:03:37,560 Speaker 2: was claimed that it happened in a book that was 73 00:03:37,600 --> 00:03:40,280 Speaker 2: released last week. His officers come out and said it 74 00:03:40,320 --> 00:03:44,120 Speaker 2: didn't happen. Senator Mackenzie led the attack from the opposition anyway, 75 00:03:44,560 --> 00:03:47,440 Speaker 2: It appears that she has had at least twelve domestic 76 00:03:47,440 --> 00:03:50,400 Speaker 2: and international business class upgrades and Quantas or Virgin flights 77 00:03:50,400 --> 00:03:54,320 Speaker 2: since twenty eleven when she joined parliament. She chased up 78 00:03:54,360 --> 00:03:56,640 Speaker 2: the airlines last week to see whether she had had 79 00:03:56,640 --> 00:04:00,560 Speaker 2: these upgrades. She hasn't updated her register of interest, which 80 00:04:00,640 --> 00:04:03,440 Speaker 2: is actually a technical breach of Senate disclosure rules. A 81 00:04:03,480 --> 00:04:06,160 Speaker 2: spokesperson for the senator, it's there that she's working through 82 00:04:06,320 --> 00:04:09,400 Speaker 2: the records. This has all kind of come down to 83 00:04:09,440 --> 00:04:13,440 Speaker 2: a question of character now. Anthony Albineazy was roundly criticized 84 00:04:13,600 --> 00:04:16,839 Speaker 2: for his behavior, notwithstanding that his office says it just 85 00:04:16,839 --> 00:04:20,840 Speaker 2: didn't happen. Opposition leader Peter Dutton's been called up in it. 86 00:04:21,240 --> 00:04:24,720 Speaker 2: He conceded that he rang gena Reinhartz and said, can 87 00:04:24,760 --> 00:04:26,720 Speaker 2: I use your plane to get from Brisbane to Sydney 88 00:04:26,720 --> 00:04:31,000 Speaker 2: once Bridge McKenzie's now under fire. It just keeps giving. 89 00:04:31,120 --> 00:04:34,000 Speaker 1: Sean Steing number four. The Boss of Treasury, Stephen Kennedy, 90 00:04:34,120 --> 00:04:36,640 Speaker 1: has said the best way to improve the housing crisis 91 00:04:36,960 --> 00:04:39,720 Speaker 1: is not by changing taxes, but by increasing supply. 92 00:04:40,160 --> 00:04:42,800 Speaker 2: He was at a Senate hearing yesterday and asked about 93 00:04:42,800 --> 00:04:45,680 Speaker 2: whether cutting capital gains tax breaks and negative gearing would 94 00:04:45,680 --> 00:04:49,880 Speaker 2: help improve housing affordability. He said it's an area of interest, 95 00:04:49,960 --> 00:04:54,039 Speaker 2: but ultimately it's a supply question. Tax reforms should be 96 00:04:54,080 --> 00:04:56,480 Speaker 2: thought of in the context of the broader system rather 97 00:04:56,480 --> 00:04:59,880 Speaker 2: than individual taxes. He said broader affordability issues were too 98 00:05:00,040 --> 00:05:02,640 Speaker 2: complex to come down to just negative gearing or capital 99 00:05:02,680 --> 00:05:05,640 Speaker 2: gains tax He said Treasuries modeled the reforms, but that's 100 00:05:05,680 --> 00:05:07,200 Speaker 2: a matter of practice. They've been doing it for a 101 00:05:07,240 --> 00:05:10,799 Speaker 2: few years. He also talked about spending on disability and healthcare. 102 00:05:10,839 --> 00:05:13,800 Speaker 2: He said that made a strong contribution to economic growth, 103 00:05:13,839 --> 00:05:16,080 Speaker 2: and he also said any higher tariffs under a Trump 104 00:05:16,120 --> 00:05:19,040 Speaker 2: presidency could hurt Australia's economic growth rate. 105 00:05:19,560 --> 00:05:22,400 Speaker 1: Shawn story number five. One of the world's biggest brands, 106 00:05:22,400 --> 00:05:25,200 Speaker 1: Apple has warned that future products may never be as 107 00:05:25,240 --> 00:05:28,680 Speaker 1: profitable as its iPhone business as it pushes into artificial 108 00:05:28,680 --> 00:05:30,960 Speaker 1: intelligence and virtual reality headsets. 109 00:05:31,320 --> 00:05:33,880 Speaker 2: The warning came into Apple's annual report now. Until now, 110 00:05:33,920 --> 00:05:36,320 Speaker 2: Apple has not been so directed in addressing the financial 111 00:05:36,360 --> 00:05:39,560 Speaker 2: profile of its future products. According to The Financial Times, 112 00:05:39,920 --> 00:05:42,680 Speaker 2: it's investing heavily in AI to catch up with rivals 113 00:05:42,720 --> 00:05:45,240 Speaker 2: like Google and Meta, as well as in its new 114 00:05:45,320 --> 00:05:49,400 Speaker 2: Vision pro spatial computing headset. In fact, he launched its 115 00:05:49,400 --> 00:05:52,640 Speaker 2: Apple Intelligence features in that headset last week. Plenty going 116 00:05:52,640 --> 00:05:55,559 Speaker 2: on for that company, facing regulatory pressure on its app 117 00:05:55,600 --> 00:05:58,479 Speaker 2: store and other parts of its services business. A recent 118 00:05:58,560 --> 00:06:01,440 Speaker 2: US anti trust victory against Google threatens billions of dollars 119 00:06:01,520 --> 00:06:04,320 Speaker 2: of licensing revenue that Apple makes, and of course, over 120 00:06:04,360 --> 00:06:07,120 Speaker 2: the past week Warren Buffett said he was selling down 121 00:06:07,400 --> 00:06:10,320 Speaker 2: some of his holdings of Apple. It's also lost its 122 00:06:10,320 --> 00:06:12,800 Speaker 2: position as the largest company on Wall Street after Nvidia's 123 00:06:12,800 --> 00:06:14,880 Speaker 2: share price jump three percent, and Video is now worth 124 00:06:15,120 --> 00:06:18,320 Speaker 2: three point four to three trillion dollars compared to Apple's 125 00:06:18,360 --> 00:06:20,120 Speaker 2: three point three eight trillion dollars. 126 00:06:20,760 --> 00:06:23,919 Speaker 1: Remarkable numbers. That's it, the top five business stories in 127 00:06:23,960 --> 00:06:24,560 Speaker 1: five minutes. 128 00:06:24,680 --> 00:06:26,200 Speaker 2: Thank you Sean, Thank you Adam. 129 00:06:26,720 --> 00:06:29,800 Speaker 1: It's Thursday, the seventh of November twenty twenty four. Remember 130 00:06:29,839 --> 00:06:32,120 Speaker 1: to hit follow on the podcast, and if five minutes 131 00:06:32,200 --> 00:06:35,120 Speaker 1: isn't enough, then find our longer podcast called Fear and 132 00:06:35,160 --> 00:06:38,400 Speaker 1: Greed on your favorite podcast platform. I'm Adam Lang and 133 00:06:38,440 --> 00:06:40,479 Speaker 1: that was the fast five by Fear and Greed. Have 134 00:06:40,560 --> 00:06:41,120 Speaker 1: a great day.