1 00:00:03,840 --> 00:00:07,040 Speaker 1: It's Monday, the sixteenth of February twenty twenty six. Welcome 2 00:00:07,040 --> 00:00:09,400 Speaker 1: to the Fast five Business News by Fear and Greed, 3 00:00:09,440 --> 00:00:11,119 Speaker 1: where we give you the top five business stories you 4 00:00:11,160 --> 00:00:13,280 Speaker 1: need to know in just five minutes. I'm Michael Thompson 5 00:00:13,360 --> 00:00:14,760 Speaker 1: and good morning, Sean Aylmer. 6 00:00:15,040 --> 00:00:15,760 Speaker 2: Morning Michael. 7 00:00:16,040 --> 00:00:17,840 Speaker 1: Sean. Just a very quick reminder that if you are 8 00:00:17,840 --> 00:00:20,840 Speaker 1: listening to this podcast through Spotify, there's a very good 9 00:00:20,920 --> 00:00:23,560 Speaker 1: chance you're listening through the your Daily Drive playlist. That 10 00:00:23,680 --> 00:00:27,040 Speaker 1: playlist is disappearing in the next few weeks, so please 11 00:00:27,200 --> 00:00:29,840 Speaker 1: hit follow on the podcast on the Fast five so 12 00:00:29,880 --> 00:00:32,960 Speaker 1: that you still get us every day. On with the show, Sean, 13 00:00:32,960 --> 00:00:35,120 Speaker 1: We've got five stories to racer in five minutes. Story 14 00:00:35,159 --> 00:00:37,519 Speaker 1: number one, It's been a weekend of Mayor Cooper's from 15 00:00:37,560 --> 00:00:40,680 Speaker 1: the Federal Liberal Party, the new Liberal leadership team of 16 00:00:40,800 --> 00:00:43,879 Speaker 1: Angus Taylor and Jane Hume are really looking to sweep 17 00:00:43,920 --> 00:00:47,040 Speaker 1: the covered clean of some old policies, work to rebuild 18 00:00:47,040 --> 00:00:49,280 Speaker 1: the coalition and fend off one nation. And that's before 19 00:00:49,320 --> 00:00:52,440 Speaker 1: they even get around to fighting the government. The two 20 00:00:52,520 --> 00:00:55,240 Speaker 1: leaders were out and about doing the media rounds yesterday. 21 00:00:55,280 --> 00:00:58,680 Speaker 1: Angus Taylor said under his leadership, the Liberal Party would 22 00:00:58,680 --> 00:01:02,880 Speaker 1: contain inflation and taxes would be lower. He said standards 23 00:01:03,040 --> 00:01:06,240 Speaker 1: had been too low on immigration and the numbers too high. 24 00:01:06,560 --> 00:01:10,520 Speaker 1: He criticized Prime Minister Anthony Albanezi for not condemning those 25 00:01:10,560 --> 00:01:14,119 Speaker 1: who openly called for violence during protests last week. Taylor 26 00:01:14,160 --> 00:01:16,440 Speaker 1: said it was the party's job to convince Australians that 27 00:01:16,520 --> 00:01:19,119 Speaker 1: the coalition is a better option than One Nation. 28 00:01:19,760 --> 00:01:23,399 Speaker 2: Yes, since Senator Hume conceded that opposing previous tax cuts 29 00:01:23,440 --> 00:01:26,600 Speaker 2: and work from home arrangements was a mistake, wouldn't be 30 00:01:26,680 --> 00:01:30,839 Speaker 2: drawn on capital gains tax concessions for property investors. First 31 00:01:30,880 --> 00:01:34,800 Speaker 2: opinion polls since Taylor and Hume replaced Susan Lee and 32 00:01:34,840 --> 00:01:38,000 Speaker 2: Taday Brian on Friday shows One Nation the Coalition, both 33 00:01:38,000 --> 00:01:41,000 Speaker 2: with twenty three percent of the primary vote, though voters 34 00:01:41,040 --> 00:01:42,679 Speaker 2: are willing to give Taylor a chance. 35 00:01:43,880 --> 00:01:47,040 Speaker 1: While the Liberals were sorting themselves out, the Albaneza government 36 00:01:47,080 --> 00:01:49,800 Speaker 1: promised a three point nine billion dollar down payment on 37 00:01:49,880 --> 00:01:52,480 Speaker 1: a thirty billion dollar plan to build a massive new 38 00:01:52,560 --> 00:01:55,840 Speaker 1: nuclear submarine construction yard in Adelaide. This thing is big. 39 00:01:55,880 --> 00:01:59,720 Speaker 1: The decades long project will support an estimated four thousand 40 00:02:00,040 --> 00:02:02,520 Speaker 1: construction jobs on top of about five and a half 41 00:02:02,600 --> 00:02:06,440 Speaker 1: thousand ongoing positions building orcust class submarines. It's going to 42 00:02:06,480 --> 00:02:08,799 Speaker 1: run in parallel to a twenty five billion dollar upgrade 43 00:02:08,840 --> 00:02:12,320 Speaker 1: to facilities at Western Australia's Henderson Precinct, which will support 44 00:02:12,440 --> 00:02:14,239 Speaker 1: nuclear submarine maintenance works. 45 00:02:15,000 --> 00:02:19,280 Speaker 2: Also yesterday, Michael the Trade Minutes to Don farrells that 46 00:02:19,320 --> 00:02:22,440 Speaker 2: Australia is closer than it ever has been, or at 47 00:02:22,520 --> 00:02:25,040 Speaker 2: least closer than any time in the last twenty years, 48 00:02:25,120 --> 00:02:28,480 Speaker 2: to signing a new free trade agreement with Europe. You 49 00:02:28,520 --> 00:02:31,240 Speaker 2: always always been a difficult one for US because agriculture. 50 00:02:31,560 --> 00:02:33,520 Speaker 2: But anyway, Don Farrell reckons we're close. 51 00:02:34,120 --> 00:02:37,760 Speaker 1: Story number two Sean. In the US, the rotation out 52 00:02:37,800 --> 00:02:40,560 Speaker 1: of tech stocks continues and that's weighing down Wall Street. 53 00:02:40,600 --> 00:02:43,240 Speaker 1: There's a bit of an anything but tech vibe at 54 00:02:43,280 --> 00:02:46,840 Speaker 1: the moment in the US supermarkets, energy companies and manufacturers 55 00:02:46,840 --> 00:02:49,840 Speaker 1: have done well, but not the magnificent seven tech stocks. 56 00:02:49,919 --> 00:02:52,800 Speaker 1: US equity funds focused on shares outside the tech sector 57 00:02:53,120 --> 00:02:56,280 Speaker 1: have attracted sixty two billion US dollars of inflows over 58 00:02:56,320 --> 00:02:59,480 Speaker 1: the past five weeks, well and truly eclipsing the fifty 59 00:02:59,560 --> 00:03:02,800 Speaker 1: billion dollars that investors added to such funds across the 60 00:03:02,840 --> 00:03:05,519 Speaker 1: whole of twenty twenty five, according to Deutsche Bank. 61 00:03:05,840 --> 00:03:08,840 Speaker 2: Yeah, I mean basically, the mag seven down seven point 62 00:03:08,880 --> 00:03:11,840 Speaker 2: two percent this year. The market's flat, so the rest 63 00:03:11,880 --> 00:03:15,800 Speaker 2: of the market is up about six percent. Pretty amazing. 64 00:03:16,040 --> 00:03:19,520 Speaker 2: Also explains the underperformance of Wall Street against Arson, against 65 00:03:19,600 --> 00:03:21,079 Speaker 2: China and European markets. 66 00:03:21,400 --> 00:03:25,360 Speaker 1: Yeah, staring Number three Macquarie Group is reportedly close to 67 00:03:25,440 --> 00:03:29,360 Speaker 1: buying logistics player Cube for eleven point six billion dollars, 68 00:03:29,400 --> 00:03:32,200 Speaker 1: and that's going to remove yet another infrastructure player from 69 00:03:32,280 --> 00:03:35,120 Speaker 1: the boss. According to the Final the Financial Review, the 70 00:03:35,120 --> 00:03:38,600 Speaker 1: deal from Mcquarreyasset Management is said to be announced possibly today. 71 00:03:39,040 --> 00:03:42,560 Speaker 1: The buyers will be a consortium including quite a few 72 00:03:42,600 --> 00:03:46,480 Speaker 1: players Who've got mccareyasset Management. I mentioned Singapore's sovereign wealth 73 00:03:46,480 --> 00:03:50,160 Speaker 1: fund GIC. You got Uni super Mercer Investments, another super fund, 74 00:03:50,360 --> 00:03:54,040 Speaker 1: and interestingly, Amancio or Tager's family office now or Taga 75 00:03:54,160 --> 00:03:57,000 Speaker 1: is the billionaire founder of the Zara fashion chain. 76 00:03:57,360 --> 00:03:59,640 Speaker 2: Yeah, I mean, scarce details on this one, given it 77 00:03:59,640 --> 00:04:02,120 Speaker 2: hasn't been announced the market, but not good news for 78 00:04:02,160 --> 00:04:06,320 Speaker 2: investors who like putting their money into listed infrastructure stocks 79 00:04:06,560 --> 00:04:07,720 Speaker 2: and their stable learnings. 80 00:04:07,920 --> 00:04:09,920 Speaker 1: Yeah, how about this one story number four Shawn at 81 00:04:09,920 --> 00:04:13,680 Speaker 1: different times of the day, solar panels are apparently just 82 00:04:13,920 --> 00:04:17,640 Speaker 1: too darn productive, flooding the national grid with energy and 83 00:04:17,680 --> 00:04:20,760 Speaker 1: that threatens to actually trip the grid. Now the energy 84 00:04:20,800 --> 00:04:24,680 Speaker 1: regulator wants powers to switch off household rooftop panels. Some 85 00:04:24,720 --> 00:04:27,280 Speaker 1: state governments aren't happy. It is just amazing to think 86 00:04:27,320 --> 00:04:29,679 Speaker 1: they're actually getting too much power out of solar panels. 87 00:04:29,880 --> 00:04:32,039 Speaker 1: But it's certainly happening at certain times of the day, 88 00:04:32,360 --> 00:04:35,000 Speaker 1: particularly in South Australia, but also Queensland. 89 00:04:35,320 --> 00:04:37,800 Speaker 2: Yes, so the Astralian energy market operators. There's the changes 90 00:04:37,839 --> 00:04:40,120 Speaker 2: that needed to manage the risks of a flood of 91 00:04:40,240 --> 00:04:42,839 Speaker 2: solar power on days when the sun shining but energy 92 00:04:42,920 --> 00:04:46,599 Speaker 2: uses low, the operator has limited ability to stop the 93 00:04:46,600 --> 00:04:50,360 Speaker 2: flow of energy, and some state governments ie Queensland don't 94 00:04:50,400 --> 00:04:52,760 Speaker 2: want to give it any more. According to the finn Review. 95 00:04:52,800 --> 00:04:55,960 Speaker 1: Last one story number five, several Democratic politicians in the 96 00:04:56,080 --> 00:04:59,320 Speaker 1: US have rushed to assure European leaders that Donald Trump 97 00:04:59,360 --> 00:05:01,640 Speaker 1: will be gone three years and things will then get 98 00:05:01,680 --> 00:05:05,000 Speaker 1: back to more normal times. The Munich Security Summit was 99 00:05:05,040 --> 00:05:08,000 Speaker 1: held over the weekend. It's the annual high level forum 100 00:05:08,040 --> 00:05:10,680 Speaker 1: bringing power players in Europe and NATO together. You might 101 00:05:10,720 --> 00:05:14,679 Speaker 1: remember it because last year Vice President JD. Vance attacked 102 00:05:14,720 --> 00:05:18,600 Speaker 1: Europe for their migration policies, caused quite a stir at 103 00:05:18,720 --> 00:05:21,360 Speaker 1: US Secretary of State Marco Rubio turned up this year. 104 00:05:21,400 --> 00:05:24,000 Speaker 1: He was a lot more polite than Vance was, though 105 00:05:24,040 --> 00:05:27,080 Speaker 1: many of the talking points were pretty similar. But much 106 00:05:27,120 --> 00:05:30,320 Speaker 1: of the interest was actually on some other US politicians. 107 00:05:30,360 --> 00:05:31,880 Speaker 1: And there was a stack of them, and they were 108 00:05:31,880 --> 00:05:33,360 Speaker 1: from both sides of politics. 109 00:05:33,680 --> 00:05:36,960 Speaker 2: Yeah. A couple of the high profile Democrats, Californian government 110 00:05:37,160 --> 00:05:42,640 Speaker 2: Governor Gavin Newsom, the other one Congresswoman Alexandria Acajil Cortes. 111 00:05:42,920 --> 00:05:46,159 Speaker 2: I think Newsome sort of summed up the feeling among 112 00:05:46,160 --> 00:05:48,400 Speaker 2: the Democrats. I quote him. If there's nothing else I 113 00:05:48,400 --> 00:05:52,240 Speaker 2: can communicate today. Donald Trump is temporary. He'll be gone 114 00:05:52,240 --> 00:05:53,159 Speaker 2: in three years. 115 00:05:53,400 --> 00:05:55,480 Speaker 1: All right, there we go, the top five business stories 116 00:05:55,520 --> 00:05:56,159 Speaker 1: in five minutes. 117 00:05:56,160 --> 00:05:57,520 Speaker 2: Thank you, Sean, Thanks Michael. 118 00:05:57,680 --> 00:06:00,680 Speaker 1: It's Monday, the sixteenth of February twenty twenty. Remember to 119 00:06:00,720 --> 00:06:03,120 Speaker 1: hit follow on the podcast as I mentioned before, and 120 00:06:03,160 --> 00:06:05,200 Speaker 1: if five minutes isn't enough, you can find our longer 121 00:06:05,279 --> 00:06:08,400 Speaker 1: daily show called Fear and Greed wherever you listen to podcasts. 122 00:06:08,440 --> 00:06:10,680 Speaker 1: I'm Michael Thompson and that was the fast five business 123 00:06:10,720 --> 00:06:15,240 Speaker 1: news by fear and greed. Have a great day.