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Speaker 1: Welcome to the weekend edition of The Fast Five. Business

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Speaker 1: News by Fear and Greed are Michael Thompson and Hello,

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Speaker 1: Natalie McDonald's Good morning. On weekdays, Natalie's all about the

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Speaker 1: Fast Five, the top five business stories in five minutes

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Speaker 1: on the weekend. We still keep it to five minutes,

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Speaker 1: but we're going to pick out the biggest business story

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Speaker 1: of the week, the most remarkable business story, a mystery

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Speaker 1: category that we change up every week, and then our

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Speaker 1: favorite business related stories. And we've got some this week

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Speaker 1: that are not particularly business y, but goodness me they're fun.

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Speaker 1: Let's jump straight into the biggest story of the week.

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Speaker 1: What was it for you?

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Speaker 2: So for me, I'm going with the human angle, heir

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Speaker 2: sparing a thought for the poor, poor suits of Australia.

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Speaker 2: They haven't set their eyes on their personal trainer since

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Speaker 2: earning season started. Their regular table at eleven Bridge sits

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Speaker 2: unused as they weighed through a bumper week of buy

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Speaker 2: back announcements and earning beats and ponder that age old question.

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Speaker 2: Have valuations become too stretched? Not yet, says The market

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Speaker 2: pushed through the nine thousand point mark for the first

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Speaker 2: time in a broad based rally as the bullmarket intensifies.

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Speaker 2: Some of the week's winners included a two milk lottery corp,

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Speaker 2: but some of the standouts weren't necessarily for good reasons.

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Speaker 2: We saw Shares in James Hardy losing about thirty five

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Speaker 2: percent in two days after a substantial earnings miss Shares

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Speaker 2: and CSL also experiencing their biggest one day fall, and

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Speaker 2: Super Retail labeling organized crime attacks at their retail sports

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Speaker 2: stores in Victoria as out of control. Next week, though,

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Speaker 2: is really the big test of this rally. We've got Cole's,

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Speaker 2: Woolworths Flight Center, Santos West Farmers and plenty more. So

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Speaker 2: I expect to be back with this winning story next

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Speaker 2: week as well.

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Speaker 1: It is a big, big story. The other big one

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Speaker 1: this week for me was the Reform round Table, the

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Speaker 1: Economic Reform round Table, which sure isn't everybody's cup of tea,

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Speaker 1: but I thought it was fascinating because there were twenty

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Speaker 1: four participants. You had business leaders like the Commonwealth bankchief executive.

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Speaker 1: You've got the Alassian co founder Scott Farquai, had union

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Speaker 1: bosses and pol politicians and the RBA governor all there

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Speaker 1: and they were tasked with basically fixing our productivity crisis

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Speaker 1: that we have here. They came up with ten dot points,

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Speaker 1: ten bullet points that's going to come out of it,

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Speaker 1: things like better regulation and a better tax system and

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Speaker 1: modernizing government services. Big lofty goals like that. There is

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Speaker 1: the potential now for tax reform. The government says it's

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Speaker 1: not going to do an external tax review, it is

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Speaker 1: just going to come up with its own policy. So

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Speaker 1: there is a whole lot of stuff still on the

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Speaker 1: table there. The main thing is that something productive has

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Speaker 1: to come out of this. It cannot become just another

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Speaker 1: talk fest, which has happened in the past. So fingers

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Speaker 1: crossed that something does meaningful occur now. Most remarkable so

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Speaker 1: it was just really a sermon that was an opinion

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Speaker 1: piece from Michael Thompson today. Most remarkable story. Can I

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Speaker 1: suggest one for this? Yeah, it is very quick, this one.

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Speaker 1: It's been remarkable watching global diplomacy take place in real

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Speaker 1: time over the last seven days. And keep in mind

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Speaker 1: that seven days ago we were talking about Vladimir Putin

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Speaker 1: and Donald Trump meeting face to face in Alaska. During

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Speaker 1: the last seven days since then, we've had Ukraine President

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Speaker 1: Vladimir Zelenski flying to Washington to meet Donald Trump in

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Speaker 1: the White House. Then we had all of the European

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Speaker 1: leaders flying over to support him, the leaders of Britain, France, Germany, Italy, Finland, NATO,

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Speaker 1: the European Commission, all going to back up Zelenski. Trump

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Speaker 1: interrupted those talks to make a call to Vladimir Putin.

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Speaker 1: The next step is a conversation between Zelenski and Putin,

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Speaker 1: and then one with Zelenski and Putin and Trump as well.

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Speaker 1: It really feels like there is stuff happening. There has

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Speaker 1: been so much in one week that maybe maybe we

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Speaker 1: are in the end stages of the conflict in Ukraine.

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Speaker 1: You can only hope what was your most remarkable.

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Speaker 2: It's actually not dissimilar to that in terms of that

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Speaker 2: level of diplomacy and bilateral support that we had coming through.

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Speaker 2: I think one of the most impactful in this story

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Speaker 2: that just kind of keeps going is M Benjamin Natianna,

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Speaker 2: who taking Australian Israeli relationships really to a new low,

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Speaker 2: calling PM Anthony Alberanesi week and accusing him of abandoning

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Speaker 2: Australia's Jewish community. This verbal assault being escalated further in

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Speaker 2: a pretty rare interview with Australian media outlet sky News

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Speaker 2: seeing his record is forever tarnish. Of course, we know

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Speaker 2: this rift follows the Albanesi government's decision to recognize a

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Speaker 2: Pastunian state at the UN next month and to block

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Speaker 2: entry to far right Israeli MP sim to Rothman, prompting

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Speaker 2: Israel to revoke visas for Australian diplomats in the West Bank.

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Speaker 2: But not dissimilar actually to your story, Michael, one of

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Speaker 2: my favorite things to emerge has actually been the response

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Speaker 2: to those initial remarks Jewish community leaders that Albanesi has

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Speaker 2: supposedly abandoned labeled Netna, whose comments as unseemly Home Affairs

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Speaker 2: Minister Tony Burke saying strength is not measured by how

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Speaker 2: many people you can blow up or how many children

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Speaker 2: you can leave Hungary, and even opposition for It's including

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Speaker 2: Susan Lee Andrew Hasty, rallying behind Albanesi, insisting that Australia's

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Speaker 2: leader deserves respect. As for Albanzi himself, while he's yet

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Speaker 2: to respond to the latest remarks, Albanize is insisting that

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Speaker 2: he doesn't take these things personally.

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Speaker 1: Yeah, it's just been a remarkable week overall, and they

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Speaker 1: are two stories along similar lines. Aren't they a mystery category?

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Speaker 1: We change it every week. This one is about stories

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Speaker 1: where maybe they would have done things differently had they

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Speaker 1: had the opportunity to go back and have another crack.

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Speaker 1: I'll go first here. There's a massive overhaul of the

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Speaker 1: National Disability Insurance Scheme on the way. The NDIS is

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Speaker 1: growing so so quickly. It's worth forty six billion dollars

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Speaker 1: at the moment. It is increasing by more than ten

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Speaker 1: percent every year, and Disability Services Minister Mark Butler spoke

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Speaker 1: of the National Press Club this week and said that

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Speaker 1: really the scheme isn't the right fit for children, for

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Speaker 1: thousands of children that have say autism or developmental delays,

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Speaker 1: and instead they're going to be moved into a different

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Speaker 1: program called Thriving Kids, and that's going to be operated

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Speaker 1: through kind of preschools and schools and community groups and

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Speaker 1: things like that. The goal here is to make it

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Speaker 1: sustainable for the budget, because this is a program that

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Speaker 1: just keeps growing and growing and growing and growing. There

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Speaker 1: is a lot of anxiety around it for a lot

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Speaker 1: of families that are affected by this decision. There have

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Speaker 1: been assurances that no one will kind of slip through

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Speaker 1: the cracks that there will still be care continuing for families,

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Speaker 1: but it is driven by a necessity because the government

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Speaker 1: does need to do something to try and rain in

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Speaker 1: the ballooning cost of the NDIS. So that is one

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Speaker 1: that perhaps more accurate forecasting could have been done at

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Speaker 1: the beginning, because it just the whole program has far

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Speaker 1: exceeded all forecasts imaginable. So that's my entry. What was

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Speaker 1: your story that you think maybe could have been done differently.

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Speaker 2: It's very hard to follow something that is designed to

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Speaker 2: be offering support to more children and more families in need,

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Speaker 2: but follow it. I will quantus find ninety million dollars.

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Speaker 2: This is the largest workplace penalty in Australian corporate history

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Speaker 2: for illegally sacking eighteen hundred ground staff in twenty twenty

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Speaker 2: during the pandemic. Justice Michael Lee, who we're really positioning

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Speaker 2: as the as the hero of this story, ruled the

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Speaker 2: outsourcing was carefully planned and named undermining workers industrial rights.

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Speaker 2: He was critical of former CEO Alan Joyce and the

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Speaker 2: airline's attempts to obscure decision making, in addition to noting

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Speaker 2: current CEO Vanessa Hudson's failure to testify, saying Quantus showed

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Speaker 2: the wrong kind of sorry. One of the big things

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Speaker 2: that came out of this was who the cash would

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Speaker 2: go to. Justice Michael Lee ruling of this penalty this

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Speaker 2: ninety million dollar penalty. Fifty million would go to the

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Speaker 2: Transport Workers' Union, forty million reserved for potential payments to

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Speaker 2: affected employees. But if this story alone wasn't enough, also

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Speaker 2: wanted to mention an incident that followed the ruling, whereby

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Speaker 2: Quantus staff were told to remove copies of the Australian

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Speaker 2: Financial Review from the chairman's lounge. The front page splashed

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Speaker 2: with this story, before putting them back again once higher

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Speaker 2: ups were notified.

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Speaker 1: Wow, last one favorite story? A challenge here. We each

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Speaker 1: only have fifteen seconds to give our favorite story of

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Speaker 1: the week. I'm going to do mine in ten words

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Speaker 1: or less. Walmart sells radioactive shrimp from Indonesia. Urgent recall

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Speaker 1: shrimp dangerous. There we go, ten words? Good luck beat that. Natalie.

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Speaker 2: All right, Well, Michael, I've got eight words for you. Michael.

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Speaker 2: Have you ever owned a Chanelle handbag? No?

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Speaker 1: Please tell me? Why done?

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Speaker 2: My favorite story Paris and It's surge in million euro

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Speaker 2: luxury handbag heists, police saying that they've overtaken jewelry as

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Speaker 2: the prize for organized gangs, with criminals tarleting brands like

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Speaker 2: ermet Chanelle, Dior and Louis Vuitton. Why handbags, Well, they're

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Speaker 2: harder to trace, they're easier to resell. And the reason

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Speaker 2: why I do not endorse crime, but I do understand

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Speaker 2: this trend is because fear and greed listeners. I am

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Speaker 2: a circular fashion girly and recognize that the circle fashion

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Speaker 2: economy could be two billion dollars to the secondary market

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Speaker 2: annually by twenty thirty. And so why I do not

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Speaker 2: endorse crime, I do understand the underlying trend behind this story.

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Speaker 1: I don't endorse crime, but we'll just leave it there. Natalie,

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Speaker 1: thank you, Thank you very much. There we go five

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Speaker 1: minutes and pretty much everything you need to know in

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Speaker 1: the world of business. Don't forget to hit follow on

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Speaker 1: the podcast and join us online on Instagram, TikTok, LinkedIn,

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Speaker 1: Facebook and X. I'm Michael Thompson and this is the

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Speaker 1: vast five business news by Fear and Great