1 00:00:03,360 --> 00:00:06,040 Speaker 1: It's Monday, the twenty fourth of June twenty twenty four. 2 00:00:06,280 --> 00:00:08,880 Speaker 1: Welcome to the Fast five Business News by Fear and Greed, 3 00:00:08,880 --> 00:00:10,720 Speaker 1: where we give you the top five business stories you 4 00:00:10,760 --> 00:00:13,520 Speaker 1: need to know and just five minutes. I'm Michael Thompson 5 00:00:13,560 --> 00:00:14,520 Speaker 1: and good morning. 6 00:00:14,280 --> 00:00:17,480 Speaker 2: Sean Aylmer, Good morning, Michael Shawn. 7 00:00:17,600 --> 00:00:18,840 Speaker 1: Five stories in five minutes. 8 00:00:18,920 --> 00:00:19,240 Speaker 3: Let's go. 9 00:00:19,280 --> 00:00:20,079 Speaker 1: Story number one. 10 00:00:20,000 --> 00:00:23,640 Speaker 3: The share price of some of Australia's biggest retail brands. 11 00:00:24,280 --> 00:00:26,599 Speaker 3: They've had a great run really over the last year, 12 00:00:26,680 --> 00:00:29,400 Speaker 3: despite the cost of living crisis, but there are a 13 00:00:29,400 --> 00:00:31,560 Speaker 3: few doubts now about whether it can last. 14 00:00:31,800 --> 00:00:34,240 Speaker 2: Yeah. Look, the tech stocks have done best, but otherwise 15 00:00:34,600 --> 00:00:37,680 Speaker 2: you're really looking at the financials and consumer discretionary stocks. 16 00:00:38,280 --> 00:00:41,640 Speaker 2: The consumer discretionary stocks include Match, the retailers JB High 17 00:00:41,640 --> 00:00:44,240 Speaker 2: five share prices up fifty percent over the past year, 18 00:00:44,320 --> 00:00:47,640 Speaker 2: so too Premier Investments that owns Peter Alexander, Smiggles, a 19 00:00:47,680 --> 00:00:49,920 Speaker 2: bunch of other retailers, Revel Group, you can struw into that. 20 00:00:50,000 --> 00:00:53,280 Speaker 2: Harvey Norman's up forty percent. Webs Farmers has done really 21 00:00:53,320 --> 00:00:56,240 Speaker 2: well also, that's because it owns Bunnings. Some of the 22 00:00:56,280 --> 00:00:59,000 Speaker 2: smaller companies have done even better. Temple and Webster Universal 23 00:00:59,040 --> 00:01:01,480 Speaker 2: Store their share prices more than double. Beacon Lighting and 24 00:01:01,560 --> 00:01:04,200 Speaker 2: Lavisa are both up more than eighty percent. Nick Scrley's 25 00:01:04,280 --> 00:01:07,800 Speaker 2: up sixty five percent. Can it last well? Late last week, 26 00:01:07,800 --> 00:01:11,280 Speaker 2: two retailers, albeit poorly performing retailers over the last year, 27 00:01:11,720 --> 00:01:16,000 Speaker 2: warned of tough times. Mosaic Brands, which Oannes autographed, Nonny 28 00:01:16,040 --> 00:01:19,679 Speaker 2: b Rockman's Rivers and Miller's, said it expects to loss 29 00:01:19,680 --> 00:01:23,240 Speaker 2: this financial year. It blamed inventory and logistical problems, and 30 00:01:23,360 --> 00:01:27,040 Speaker 2: KMD Brands, owner of Catmandu and Ripcall, also warned of 31 00:01:27,319 --> 00:01:30,600 Speaker 2: weaker sales a couple of weeks ago. We've had Babcour, 32 00:01:30,760 --> 00:01:34,160 Speaker 2: we had Baby Bunting, They've down graded earnings. Just looks 33 00:01:34,240 --> 00:01:36,360 Speaker 2: like some of the retailers are struggling a little bit 34 00:01:36,360 --> 00:01:36,800 Speaker 2: at the moment. 35 00:01:36,840 --> 00:01:40,880 Speaker 1: Michael, Yeah, it does. Is the best over then for 36 00:01:40,920 --> 00:01:41,840 Speaker 1: the retail stocks. 37 00:01:42,640 --> 00:01:44,880 Speaker 2: Potentially, if you're going to invest in a retail stock, 38 00:01:44,920 --> 00:01:47,360 Speaker 2: ask financial planner. We're not an investment podcast, but if 39 00:01:47,360 --> 00:01:50,800 Speaker 2: you look at these stock prices of discretionary retailers generally 40 00:01:50,920 --> 00:01:54,360 Speaker 2: did really well till March, then fell picked up again. 41 00:01:54,520 --> 00:01:58,440 Speaker 2: All about interest rates. That's what's dominating sediment towards them 42 00:01:58,720 --> 00:02:00,720 Speaker 2: as we head to the end of the financial it's 43 00:02:00,840 --> 00:02:03,080 Speaker 2: very possible we're going to see more downgrades from some 44 00:02:03,160 --> 00:02:05,960 Speaker 2: of the retailers who rely heavily on people logging in 45 00:02:06,080 --> 00:02:08,640 Speaker 2: or walking into the store and spending money. If we do, 46 00:02:08,960 --> 00:02:10,880 Speaker 2: comes after a very strong run for many of the 47 00:02:10,919 --> 00:02:11,680 Speaker 2: retail stocks. 48 00:02:12,600 --> 00:02:15,080 Speaker 1: All right, Moving on to story number two now, Sean 49 00:02:15,200 --> 00:02:18,480 Speaker 1: and the Coalition's nuclear plan could cost up to six 50 00:02:18,600 --> 00:02:22,360 Speaker 1: hundred billion dollars yet only supply a small portion of 51 00:02:22,360 --> 00:02:24,480 Speaker 1: Australia's energy mix by twenty fifty. 52 00:02:25,360 --> 00:02:28,760 Speaker 2: That's according to the Smart Energy Council. While the CSIRO 53 00:02:29,040 --> 00:02:31,720 Speaker 2: has forecast that building seven reactors would cost one hundred 54 00:02:31,760 --> 00:02:34,800 Speaker 2: and sixteen billion dollars, the Smart Energy Council said that 55 00:02:34,840 --> 00:02:37,400 Speaker 2: could ballooon to six hundred billion dollars based on budget 56 00:02:37,440 --> 00:02:41,280 Speaker 2: and timeline blowouts, the cost of refurbishing cult five power stations, 57 00:02:41,320 --> 00:02:44,360 Speaker 2: and compensating state governments. The nuclear debate is taking much 58 00:02:44,360 --> 00:02:47,160 Speaker 2: to the spotlight at the moment. Yesterday, Opposition Energy spokesperson 59 00:02:47,480 --> 00:02:50,200 Speaker 2: Jeda O'Brien conceded the government wouldn't know all the details 60 00:02:50,200 --> 00:02:52,760 Speaker 2: of its energy proposal all the time we hit the 61 00:02:52,760 --> 00:02:55,760 Speaker 2: next federal election, and former Prime Minister Paul Keaton gave 62 00:02:55,840 --> 00:02:59,639 Speaker 2: his two cents worth, always colorful writing of Peter Dutton 63 00:02:59,639 --> 00:03:02,240 Speaker 2: and I only the most wicked and cynical of individuals 64 00:03:02,280 --> 00:03:06,280 Speaker 2: would foist such a blight on an earnest community like Australia. 65 00:03:06,639 --> 00:03:09,080 Speaker 2: He then called mister Darton and charlatan and a climate 66 00:03:09,160 --> 00:03:09,960 Speaker 2: change to nihilist. 67 00:03:10,440 --> 00:03:12,960 Speaker 1: All right, story number three. We are closing in short 68 00:03:13,040 --> 00:03:14,640 Speaker 1: on the end of the financial year, and it looks 69 00:03:14,680 --> 00:03:18,560 Speaker 1: like superannuation funds will return a very healthy nine percent. 70 00:03:19,760 --> 00:03:22,040 Speaker 2: That's the figure for the Median Growth Fund, with sixty 71 00:03:22,080 --> 00:03:24,840 Speaker 2: one to eighty percent in growth assets stuff like equities. 72 00:03:24,960 --> 00:03:27,200 Speaker 2: Over the month of May, the Median Growth Fund expanded 73 00:03:27,200 --> 00:03:30,840 Speaker 2: by just under one percent. Fiscal twenty twenty four will 74 00:03:30,960 --> 00:03:35,160 Speaker 2: undoubtedly be the thirteenth positive return in fifteen years, according 75 00:03:35,200 --> 00:03:38,480 Speaker 2: to chant West, given the uncertainty around inflation, interest rates, 76 00:03:38,480 --> 00:03:42,400 Speaker 2: the geopolitical climate, nine percent pretty good result, thanks in 77 00:03:42,480 --> 00:03:45,440 Speaker 2: large part to those big tech stocks on Wall Street. 78 00:03:45,680 --> 00:03:48,600 Speaker 2: Since introduction of compulsory super the Median Growth Fund has 79 00:03:48,600 --> 00:03:51,600 Speaker 2: returned seven point nine percent. Even if you look over 80 00:03:51,640 --> 00:03:54,480 Speaker 2: the last twenty years, where there's been three major share 81 00:03:54,520 --> 00:03:57,400 Speaker 2: market downturns, the GFC in two thousand and seven, eight 82 00:03:57,480 --> 00:04:00,840 Speaker 2: COVID nineteen and the high inflation rising interest twenty twenty 83 00:04:00,840 --> 00:04:04,920 Speaker 2: two super funds have returned seven point three percent per annum, 84 00:04:05,120 --> 00:04:06,560 Speaker 2: well worth the investment. 85 00:04:07,040 --> 00:04:10,160 Speaker 1: Indeed story number four. The northern summer is upon US, 86 00:04:10,160 --> 00:04:12,640 Speaker 1: so many Australians are gearing up to travel to Europe 87 00:04:12,640 --> 00:04:16,000 Speaker 1: if they haven't already left. New data though this is interesting, 88 00:04:16,000 --> 00:04:19,960 Speaker 1: shows that among the major countries, Italy is where Australians 89 00:04:20,000 --> 00:04:22,160 Speaker 1: are most likely to have insurance claims. 90 00:04:22,680 --> 00:04:25,279 Speaker 2: Many Bank data shows that customers made more claims in 91 00:04:25,320 --> 00:04:27,640 Speaker 2: Italy than the UK, Greece, France or Spain, with the 92 00:04:27,640 --> 00:04:31,520 Speaker 2: most common issues related to medical episodes, hospital stays, instolen 93 00:04:31,640 --> 00:04:34,640 Speaker 2: or lost luggage and personal effects. Department of Foreign and 94 00:04:34,680 --> 00:04:38,800 Speaker 2: Trade statistics show Italy was also where more Australian passports 95 00:04:39,080 --> 00:04:41,839 Speaker 2: when Australi than anywhere or else in the world, according 96 00:04:41,839 --> 00:04:44,640 Speaker 2: to a story in The Australian. According to Manybank, its 97 00:04:44,680 --> 00:04:48,279 Speaker 2: two highest travel insurance claims made by Australians in Europe 98 00:04:48,360 --> 00:04:51,360 Speaker 2: last year were initially one for sixty seven thousand and 99 00:04:51,400 --> 00:04:53,919 Speaker 2: one for forty two thousand and what they were claiming 100 00:04:54,080 --> 00:04:57,200 Speaker 2: average claims about fifteen hundred dollars. Italy's a bit of 101 00:04:57,200 --> 00:04:59,520 Speaker 2: a hot spot for ossie tourists. Of course, last more 102 00:04:59,560 --> 00:05:02,599 Speaker 2: than summer, one hundred and thirty one thousand Aussies made 103 00:05:02,920 --> 00:05:05,000 Speaker 2: visits to Italy, Okay. 104 00:05:05,120 --> 00:05:07,320 Speaker 1: Last one story number five sean, I'll be interested to 105 00:05:07,320 --> 00:05:08,880 Speaker 1: see what to think of this. One of the greatest 106 00:05:08,920 --> 00:05:12,960 Speaker 1: short distance runners ever. US Olympic champion Michael Johnson wants 107 00:05:12,960 --> 00:05:16,400 Speaker 1: to revolutionize athletics and has unveiled a new competition to 108 00:05:16,520 --> 00:05:20,120 Speaker 1: elevate elite athletes and the whole athletics competition. 109 00:05:20,560 --> 00:05:22,919 Speaker 2: It's called Grand Slam Track and it's scheduled to start 110 00:05:22,960 --> 00:05:25,320 Speaker 2: next year. There'll be four Grand Slams, two in the US, 111 00:05:25,360 --> 00:05:27,560 Speaker 2: two outside the US. It'll be backed by thirty million 112 00:05:27,600 --> 00:05:31,440 Speaker 2: dollars of commitments from investors. Johnson told The Financial Times 113 00:05:31,440 --> 00:05:33,760 Speaker 2: that the competition was built for today's audience, and each 114 00:05:33,839 --> 00:05:37,840 Speaker 2: athlete will compete twice at each Slam event. Already, some 115 00:05:37,880 --> 00:05:40,600 Speaker 2: Olympic athletes have said they'll join the group. Under the proposal, 116 00:05:40,640 --> 00:05:44,279 Speaker 2: there'll be forty eight paid races forty eight challengers all athletics. 117 00:05:44,320 --> 00:05:46,440 Speaker 2: Earlier this month, revealed plans to set up a new 118 00:05:46,480 --> 00:05:50,520 Speaker 2: biennial competition from twenty twenty six. Athletics like swimming and cycling. 119 00:05:50,640 --> 00:05:53,599 Speaker 2: Huge fan base, just very limited opportunities for people to 120 00:05:53,640 --> 00:05:54,359 Speaker 2: attend events. 121 00:05:54,760 --> 00:05:56,719 Speaker 1: All right, there we go, the top five business stories 122 00:05:56,760 --> 00:05:57,359 Speaker 1: in five minutes. 123 00:05:57,400 --> 00:05:59,240 Speaker 2: Thank you Sean, Thank you Michael. 124 00:05:59,480 --> 00:06:02,200 Speaker 1: It's Monday, the twenty fourth of June twenty twenty four. 125 00:06:02,360 --> 00:06:04,800 Speaker 1: Remember to hit follow on the podcast and five minutes 126 00:06:04,880 --> 00:06:07,480 Speaker 1: isn't enough. You can find our longer daily show called 127 00:06:07,520 --> 00:06:10,200 Speaker 1: Fear and Greed wherever you listen to podcasts. I'm Michael 128 00:06:10,240 --> 00:06:12,320 Speaker 1: Thompson and that was the fast vive business news by 129 00:06:12,360 --> 00:06:12,960 Speaker 1: Fear and Greed. 130 00:06:13,320 --> 00:06:14,440 Speaker 3: Have a great day.