1 00:00:03,880 --> 00:00:06,640 Speaker 1: It's Friday, the twelfth of December twenty twenty five. 2 00:00:06,720 --> 00:00:07,360 Speaker 2: Welcome to the. 3 00:00:07,320 --> 00:00:09,680 Speaker 1: Fast five Business News by Fear and Greed, where we 4 00:00:09,720 --> 00:00:11,520 Speaker 1: give you the top five business stories you need to 5 00:00:11,560 --> 00:00:13,720 Speaker 1: know in just five minutes. Oh Michael Thompson and good 6 00:00:13,720 --> 00:00:14,760 Speaker 1: morning Sean Aylmer. 7 00:00:14,920 --> 00:00:16,360 Speaker 2: Good morning Michael, Sean. 8 00:00:16,480 --> 00:00:19,079 Speaker 1: Five stories to race through in five minutes. Let's go 9 00:00:19,160 --> 00:00:22,759 Speaker 1: story number one. The local economy shared more than twenty 10 00:00:22,800 --> 00:00:26,200 Speaker 1: one thousand jobs last month, an outcome that was worse 11 00:00:26,239 --> 00:00:29,400 Speaker 1: than expected, while the unemployment rates stayed at four point 12 00:00:29,480 --> 00:00:32,479 Speaker 1: three percent. The results will be closely monitored by the 13 00:00:32,479 --> 00:00:35,400 Speaker 1: Reserve Bank, with Governor Michelle Bullock earlier this week saying 14 00:00:35,440 --> 00:00:37,840 Speaker 1: the labor market was important for interest rates. 15 00:00:38,080 --> 00:00:38,239 Speaker 2: Now. 16 00:00:38,240 --> 00:00:40,199 Speaker 3: The employment market's a long way from a crisis, but 17 00:00:40,280 --> 00:00:43,559 Speaker 3: yesterday's numbers were definitely mixed. Full time employment dropped by 18 00:00:43,560 --> 00:00:46,120 Speaker 3: fifty seven thousand in November. Men comprised most of the 19 00:00:46,200 --> 00:00:49,200 Speaker 3: job losses. Part time employment was up thirty five thousand. 20 00:00:49,320 --> 00:00:51,960 Speaker 3: Most of those jobs went to women. There would have 21 00:00:52,000 --> 00:00:54,160 Speaker 3: been an increase in the unemployment rate except that the 22 00:00:54,160 --> 00:00:58,120 Speaker 3: participation rate furl as did the employment to population ratio. 23 00:00:58,240 --> 00:01:00,240 Speaker 3: In fact, over the past two months and Umber of 24 00:01:00,280 --> 00:01:02,600 Speaker 3: people employed has risen by one point three percent. The 25 00:01:02,600 --> 00:01:06,520 Speaker 3: population has grown by two percent. Obviously a gap. Employment 26 00:01:06,600 --> 00:01:09,039 Speaker 3: numbers jump around a bit. We tend to look at 27 00:01:09,080 --> 00:01:12,200 Speaker 3: the unemployment rate as a good view of the trend. 28 00:01:12,280 --> 00:01:14,679 Speaker 3: There's certainly no crisis or anything like that, but just 29 00:01:14,720 --> 00:01:15,679 Speaker 3: looking a little weaker. 30 00:01:16,280 --> 00:01:19,400 Speaker 1: Yeah, And the jobs news in Australia came after the 31 00:01:19,480 --> 00:01:22,720 Speaker 1: US Federal Reserve cut interest rates in the world's biggest 32 00:01:22,720 --> 00:01:25,320 Speaker 1: economy by another twenty five basis points. A bit of 33 00:01:25,360 --> 00:01:28,720 Speaker 1: a contentious decision, though dissenting views within the Central Bank. 34 00:01:29,040 --> 00:01:32,920 Speaker 1: While President Donald Trump complained about a deadhead FED. 35 00:01:33,560 --> 00:01:34,880 Speaker 2: He knows a one liner. 36 00:01:35,160 --> 00:01:37,560 Speaker 3: The decision to cut rates pushes US lending costs their 37 00:01:37,560 --> 00:01:41,479 Speaker 3: lowest in three years, likely that they will pause at 38 00:01:41,480 --> 00:01:44,640 Speaker 3: this point. Trump had demanded demanded a bigger cut. He 39 00:01:44,680 --> 00:01:49,800 Speaker 3: wanted at least double what was announced. Three FED official dissenters, 40 00:01:49,800 --> 00:01:52,000 Speaker 3: so two officials wanted to keep the rate unchanged, while 41 00:01:52,000 --> 00:01:54,600 Speaker 3: Trump appointee Stephen Miron wanted. 42 00:01:54,360 --> 00:01:55,279 Speaker 2: A larger cut. 43 00:01:55,480 --> 00:01:58,160 Speaker 3: Overall, power was pretty upbeat on the US economy. 44 00:01:59,040 --> 00:02:01,520 Speaker 1: Just bring it back home, hors. What does everything mean 45 00:02:01,600 --> 00:02:02,800 Speaker 1: for local interest rates? 46 00:02:02,920 --> 00:02:04,920 Speaker 3: Well, inflation is a number one priority for the Reserve 47 00:02:04,960 --> 00:02:07,440 Speaker 3: Bank one month's employment reading won't made too much of 48 00:02:07,480 --> 00:02:09,920 Speaker 3: a difference. The fact of the US's cut race probably 49 00:02:09,919 --> 00:02:11,680 Speaker 3: doesn't mean much for the Reserve Bank, though it did 50 00:02:11,880 --> 00:02:15,440 Speaker 3: push the Aussie dollar towards sixty seven US cents. The 51 00:02:15,480 --> 00:02:19,120 Speaker 3: slight bister titan remains here, though those warning a rate 52 00:02:19,160 --> 00:02:21,800 Speaker 3: cup would have been somewhat encouraged by the labor four stats. 53 00:02:22,360 --> 00:02:23,720 Speaker 2: Okay, on to story number two. 54 00:02:23,760 --> 00:02:27,160 Speaker 1: Now and Household spending rose last month according to Commonwealth 55 00:02:27,240 --> 00:02:31,119 Speaker 1: Bank card data, in part thanks to tours by Oasis, 56 00:02:31,120 --> 00:02:35,600 Speaker 1: Metallica and ACDC, also the Ashes cricket test in Perth 57 00:02:35,639 --> 00:02:37,320 Speaker 1: and the release of the movie Wicked. 58 00:02:37,440 --> 00:02:39,800 Speaker 3: For good, Commonwealth Bank has plenty of data and what 59 00:02:39,840 --> 00:02:42,840 Speaker 3: people are spending money on through credit and debit cards. 60 00:02:42,919 --> 00:02:45,919 Speaker 3: Last month, spending was up half percent five point five 61 00:02:45,960 --> 00:02:49,720 Speaker 3: percent for the last twelve months. Incredibly, spending on blockbuster 62 00:02:49,840 --> 00:02:54,600 Speaker 3: sport and music events overshadowed the Black Friday sales. Recreation 63 00:02:54,760 --> 00:02:57,800 Speaker 3: spending rose most, followed by spending in electronic clothing and 64 00:02:57,800 --> 00:03:01,320 Speaker 3: furniture stores. Presumably that is the black sales figures. The 65 00:03:01,400 --> 00:03:04,959 Speaker 3: sector that felm most was utilities, which Comwealthbanks said reflected 66 00:03:04,960 --> 00:03:06,799 Speaker 3: some energy rebates coming to an end. 67 00:03:07,520 --> 00:03:11,080 Speaker 1: Story number three. Australians wanting to travel to the United 68 00:03:11,160 --> 00:03:14,760 Speaker 1: States will have to provide their social media history over 69 00:03:14,760 --> 00:03:17,120 Speaker 1: the last five years in order to enter the country. 70 00:03:17,440 --> 00:03:19,919 Speaker 1: Is under new proposals by the Trump administration. 71 00:03:20,280 --> 00:03:23,120 Speaker 3: Travelers from Australia, Germany, Japan, the UK, and thirty eight 72 00:03:23,160 --> 00:03:25,919 Speaker 3: other countries that can enter the US without a visa 73 00:03:26,000 --> 00:03:29,239 Speaker 3: will be screened. More than one million Australians travel to 74 00:03:29,280 --> 00:03:31,520 Speaker 3: the US in twenty twenty four, mostly using the Short 75 00:03:31,560 --> 00:03:34,720 Speaker 3: Stay Visa waiver program that allows travel without a visa, 76 00:03:34,800 --> 00:03:37,520 Speaker 3: although you need to undertake a pre travel screening via 77 00:03:37,600 --> 00:03:41,480 Speaker 3: the EST program. The Trump administration, it's fair to say, 78 00:03:41,600 --> 00:03:44,720 Speaker 3: has been less than friendly to overseas visitors. Last month, 79 00:03:44,800 --> 00:03:47,320 Speaker 3: they announced a travel ban on thirty countries following the 80 00:03:47,360 --> 00:03:50,800 Speaker 3: shooting of two National Guard members. They've done smaller things 81 00:03:51,160 --> 00:03:55,800 Speaker 3: like increase the cost of visiting the US. Trump's also 82 00:03:55,960 --> 00:03:59,040 Speaker 3: a few weeks back talked about a move to permanently 83 00:03:59,080 --> 00:04:02,960 Speaker 3: pause migration from all third world countries. So not a 84 00:04:02,960 --> 00:04:05,640 Speaker 3: particularly friendly atmosphere for travelers. 85 00:04:06,040 --> 00:04:09,400 Speaker 1: No, not particularly Story number four. Woolworth has entered a 86 00:04:09,440 --> 00:04:12,760 Speaker 1: new partnership with delivery group door Dash hoping to capitalize 87 00:04:12,760 --> 00:04:16,720 Speaker 1: on shoppers wanting convenience over the holiday period, just as 88 00:04:16,800 --> 00:04:19,920 Speaker 1: Coal's ramps up its partnership with Uber, all. 89 00:04:19,800 --> 00:04:21,880 Speaker 3: His customers will be able to purchase a range of 90 00:04:21,880 --> 00:04:25,279 Speaker 3: products on the delivery app Fresh Food, House, Old Essentials, 91 00:04:25,279 --> 00:04:29,080 Speaker 3: pantry staples, then have them delivered in under two hours 92 00:04:29,120 --> 00:04:32,200 Speaker 3: from seven hundred stores. They can also order direct to boot, 93 00:04:32,440 --> 00:04:34,360 Speaker 3: where customers can pick up their order from the local 94 00:04:34,360 --> 00:04:37,479 Speaker 3: store in under sixty minutes. Over at Coles, its partnership 95 00:04:37,480 --> 00:04:40,680 Speaker 3: with Uber is expanding to bride fifty percent more groceries 96 00:04:40,680 --> 00:04:43,640 Speaker 3: for delivery within an hour. At the announcement, we found 97 00:04:43,640 --> 00:04:46,960 Speaker 3: out Michael the most popular items last year in terms 98 00:04:46,960 --> 00:04:51,560 Speaker 3: of Uber delivering Coals groceries number one, Cole's Christmas ginger headhouse, 99 00:04:51,960 --> 00:04:55,240 Speaker 3: ginger head gingerbread house, number two, the Coals Daily Thought 100 00:04:55,360 --> 00:04:57,760 Speaker 3: cooked prawns, and number three Paul's Christmas eggnog. 101 00:04:58,560 --> 00:05:02,479 Speaker 1: Last one. Story number four. It's not hugely business news, 102 00:05:02,480 --> 00:05:05,359 Speaker 1: but it's a cracker of a story. The Star of Bethlehem, that, 103 00:05:05,680 --> 00:05:07,800 Speaker 1: according to the Bible, sat above the town where Jesus 104 00:05:07,880 --> 00:05:11,320 Speaker 1: Christ was born, led wise men to the stable, might 105 00:05:11,400 --> 00:05:15,440 Speaker 1: have actually happened. Even though stars don't normally hover over 106 00:05:15,480 --> 00:05:16,520 Speaker 1: small towns. 107 00:05:16,320 --> 00:05:18,400 Speaker 3: And that's the scientist claims to have presented the first 108 00:05:18,520 --> 00:05:23,000 Speaker 3: scientifically grounded theory capable of explaining the light's strange movement 109 00:05:23,080 --> 00:05:26,520 Speaker 3: as described in the Bible. The answer, he suggests may 110 00:05:26,520 --> 00:05:28,960 Speaker 3: involve a comet that very nearly hit the earth a 111 00:05:29,000 --> 00:05:31,599 Speaker 3: little over two thousand years ago, according to the report 112 00:05:31,600 --> 00:05:33,359 Speaker 3: in the Times Now, in the Gospel of Matthew, the 113 00:05:33,360 --> 00:05:35,279 Speaker 3: star that leads the wise men to the infant Jesus 114 00:05:35,279 --> 00:05:37,760 Speaker 3: first appears in the east, then goes before them on 115 00:05:37,800 --> 00:05:40,720 Speaker 3: their short journey from Jerusalem to Bethlehem. Then it stands 116 00:05:40,800 --> 00:05:44,159 Speaker 3: over the place where Jesus is born. Scientific view highly 117 00:05:44,320 --> 00:05:47,080 Speaker 3: highly unlikely, probably a miracle or a metaphor or something 118 00:05:47,160 --> 00:05:50,520 Speaker 3: like that. But Mark Mattney, a planetary scientist for NASA, 119 00:05:50,720 --> 00:05:54,320 Speaker 3: points out that Chinese astronomers recorded a bright comet visitable 120 00:05:54,400 --> 00:05:56,560 Speaker 3: for more than seventy days in the spring of five BC, 121 00:05:57,200 --> 00:05:58,360 Speaker 3: that's when historians think. 122 00:05:58,279 --> 00:05:59,080 Speaker 2: Jesus was born. 123 00:05:59,560 --> 00:06:01,479 Speaker 3: His look and how this comment might have moved in 124 00:06:01,520 --> 00:06:03,920 Speaker 3: the sky when viewed from the ground, and in one model, 125 00:06:04,440 --> 00:06:06,839 Speaker 3: its trajectory would have brought it close enough to work 126 00:06:06,920 --> 00:06:10,000 Speaker 3: that for a few hours its eastward motion would effectively 127 00:06:10,480 --> 00:06:14,520 Speaker 3: have paused because of the Earth's rotation. Maybe there was 128 00:06:14,560 --> 00:06:15,520 Speaker 3: a star of Bethlehem. 129 00:06:15,839 --> 00:06:18,800 Speaker 1: That is an incredible story and that is our fifth 130 00:06:19,040 --> 00:06:21,520 Speaker 1: of five top five business stories in five minutes. 131 00:06:21,520 --> 00:06:22,920 Speaker 2: Thank you Sean, Thank you Michael. 132 00:06:23,160 --> 00:06:26,760 Speaker 1: It's Friday, the twelfth of December twenty twenty five. Remember 133 00:06:26,800 --> 00:06:29,560 Speaker 1: to hit follow on the podcast and five minutes isn't enough. 134 00:06:29,600 --> 00:06:30,919 Speaker 2: You can find our longer. 135 00:06:30,760 --> 00:06:33,800 Speaker 1: Daily show called Fear and Greed wherever you listen to podcasts. 136 00:06:34,160 --> 00:06:35,560 Speaker 2: I'm Michael Thompson and that was the. 137 00:06:35,520 --> 00:06:37,839 Speaker 1: Fast five business news by Fear and Great. Have a 138 00:06:37,839 --> 00:06:41,200 Speaker 1: great day.