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Speaker 1: It's Monday, the tenth of February twenty twenty five. Welcome

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Speaker 1: to the Fast five Business News by Fear and Greed,

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Speaker 1: where we give you the top five business stories you

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Speaker 1: need to know in just five minutes. I'm Michael Thompson

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Speaker 1: and good morning Sean Aylmer.

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Speaker 2: Good morning, Michael sewn.

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Speaker 1: Five stories in five minutes. Let's get going. How about

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Speaker 1: story number one? The country's most expensive home and estate

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Speaker 1: in Tuak in Melbourne, has sold for one hundred and

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Speaker 1: fifty million dollars, beating the previous record price, which was

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Speaker 1: in Sydney's Eastern suburbs, by twenty million dollars.

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Speaker 2: The eighteen sixty seven built Kunak owned by Paul Little,

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Speaker 2: he of Toll Holdings fame. He made his money that way.

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Speaker 2: Also his wife is Jane Hanson, Chancellor of the University

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Speaker 2: of Melbourne. Don't know who the buyer was. They bought

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Speaker 2: it for fourteen point five million dollars in two thousand

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Speaker 2: and two, sold one hundred and fifty million dollars over

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Speaker 2: the last week, though they did renovate it apparently Michael.

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Speaker 2: According to the fin Review, it's an italianate mansion one

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Speaker 2: point one hectares Pool, Caban, tennis Court, park like gardens,

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Speaker 2: two hundred meter frontage under Clendon Road. The previous Melbourne

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Speaker 2: record was eighty million dollars for another property in Turec,

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Speaker 2: which has been knocked down since. The previous house record

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Speaker 2: nationally was one hundred and thirty million dollars for two

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Speaker 2: different homes in Point Piper. In Sydney. The apartment records

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Speaker 2: actually one hundred and forty million dollars for Barangaroo in

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Speaker 2: Sydney's CBD. That's only just completed. Not sure who the

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Speaker 2: buio that was a mystery buyer. We don't know who

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Speaker 2: bought Kunak, but I'm sure we'll find out.

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Speaker 1: Yeah, hopefully so now, Sean, it is great to see

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Speaker 1: the top end of the market doing so well, but

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Speaker 1: what about the rest of us. We know that the

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Speaker 1: market ended last year just to touch soggy. Is there

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Speaker 1: any pickup in twenty twenty five?

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Speaker 2: Literally to tell, but there are some positive signs about

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Speaker 2: seventeen hundred homes when under the hammer. Last week, the

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Speaker 2: preliminary clearance rate came in at sixty seven point four percent.

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Speaker 2: That's the highest since October last year. Core Logics Tim

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Speaker 2: Lawless said the early trend is showing improvement in selling conditions,

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Speaker 2: which might reflect some renewed confidence on the back of

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Speaker 2: potential interest rate cuts. We'll find out more about their

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Speaker 2: next week. Melbourne's clearance Right came into sixty eight percent,

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Speaker 2: Sydney seventy three percent. Still very early though in the season.

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Speaker 1: Okay, moving on to story number two. Now, Sean and

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Speaker 1: Labor and the Greens have suffered major swings away from

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Speaker 1: incumbent members in two Victorian by elections, auguring well for

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Speaker 1: the federal coalition in the upcoming federal poll.

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Speaker 2: In Piran, it appears that Liberal candidate Rachel Westaway has

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Speaker 2: won the inner Melbourne seat away from the Greens for

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Speaker 2: the first time in a decade. The formerly safe Labour

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Speaker 2: seat of Werribee is on a nice edge that's in

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Speaker 2: Melbourne's West, too close to cor Al. Will probably hold it,

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Speaker 2: but a close run thing. Certainly, it is bad news

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Speaker 2: for Jacintra Allen's Victorian government, but also for Prime Minister

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Speaker 2: Anthony Albernezi. If you took the ten percent swing against

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Speaker 2: Labour and Werribee replicated across Victoria in the federal poll

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Speaker 2: due before the middle of May, that would result in

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Speaker 2: the ALP losing eleven seats. Now that won't happen, but

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Speaker 2: it does share the victorious thirty nine seats in the

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Speaker 2: Federal Parliament are well and truly up for grabs. Victoria

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Speaker 2: is no longer a labor stronghold.

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Speaker 1: Story Number three, Domino's Pizza Enterprises is closing more than

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Speaker 1: two hundred stores as it looks to reduce the number

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Speaker 1: of loss making restaurants and plicate some rather disgruntled investors.

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Speaker 2: Yes, thirty eight hundred stores it operates in Australia, Europe

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Speaker 2: and Asia. Now the bulk of the closures one hundred

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Speaker 2: and seventy two are coming from coming will occur in Japan,

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Speaker 2: where performance has been very disappointing, only four in Australia.

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Speaker 2: It's one of the first moves by new chief executive

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Speaker 2: officer Mark van dijk Now. He replaced the LCL and

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Speaker 2: founded Don May late last year. Don May famously expanded Dominos.

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Speaker 2: He didn't like closing stores, he liked opening them. However,

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Speaker 2: Dominos now downsizing also says it's dump plans to have

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Speaker 2: seventy one hundred restaurants around the world by twenty thirty three.

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Speaker 2: Investors loved the news its share price was up twenty

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Speaker 2: three percent on Friday, though it's still down eight percent

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Speaker 2: of the past year.

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Speaker 1: How about this one before, Some of Australia's biggest companies,

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Speaker 1: including Australia Posts and Canvas, Telstra PwC, they've quit the

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Speaker 1: federal scheme that allows them to claim net zero carbon

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Speaker 1: emissions amid mounting, you would say, concerns about integrity.

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Speaker 2: Australian corporations have spent hundreds of millions of dollars in

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Speaker 2: the past decade buying offsets in the voluntary market to

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Speaker 2: reduce their climate footprint, but according to the AGE, there

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Speaker 2: are rising doubts about whether the projects generating these offsets

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Speaker 2: actually reduced greenhouse gases, and more than one hundred companies

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Speaker 2: have left the Climate Active scheme in the past two years,

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Speaker 2: with the damaging corporate departures prompting the federal government to

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Speaker 2: consider radically reshaping or even shutting down the so called

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Speaker 2: voluntary market in carbon credits Climate Active, which is a

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Speaker 2: federal government run voluntary register that companies join report the

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Speaker 2: carbon emissions and their offsets. They can then claim to

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Speaker 2: their customers their carbon neutral Well, not sure that's working.

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Speaker 2: Companies have walked away, including Aussie posts, Cbusuits, Prenuation, Telstra, NRMA,

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Speaker 2: CAN with PwC, even the Clean Energy Finance Court, which

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Speaker 2: is actually the Federal governments. Three thirty billion dollar Green

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Speaker 2: Bank has pulled out of climbate Active. Not a good look.

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Speaker 1: No, it is not last one. Sean story number five.

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Speaker 1: It is Super Bowl Sunday in the US and the

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Speaker 1: game kicks off later this morning. In Australia. It has

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Speaker 1: been held in New Orleans and being played between Philadelphia

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Speaker 1: and the Philadelphia Eagles, Sean and the returning champs, the

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Speaker 1: Kansas City Chiefs.

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Speaker 2: Who cares? It's all about half time entertainment. Kendrick Lamar,

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Speaker 2: he'll be there. Tallas Swift will be there. She won't

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Speaker 2: be singing, but her boyfriend Travis Kelsey's playing. Of course,

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Speaker 2: it's Super Bowl fifty nine. Ten advertisements have been sold

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Speaker 2: for more than eight million US dollars each. According to Variety,

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Speaker 2: stella Atoi has done at Hargan Das Hellman's Mayer. You've

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Speaker 2: got to sell a lot of mayor to get your

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Speaker 2: money back on that one. The one that's still a

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Speaker 2: twit that involves both David Beckham and Matt Damons I

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Speaker 2: suppose they're getting a fee too. Donald Trump's dud to

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Speaker 2: turn up. No sitting president has ever been at the

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Speaker 2: Super Bowl. Fox has the rights to the show. Actually

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Speaker 2: a big deal. Kansas City, they're going for three straight.

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Speaker 2: Never happened in the Super Bowl. The two teams played

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Speaker 2: two years ago, Kansas City one, that one. So I'd

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Speaker 2: imagine Philadelphia will be very keen to beat them.

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Speaker 1: You would imagine. So there we go, the top five

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Speaker 1: business stories in five minutes. Thank you Sean, Thank you Michael.

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Speaker 1: It is Monday, the tenth of February twenty twenty five.

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Speaker 1: Remember to hit follow on the podcast, and if five

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Speaker 1: minutes isn't enough, you can find our longer daily show

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Speaker 1: called Fear and Greed wherever you listen to podcasts. I'm

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Speaker 1: Michael Thompson and that was the fast five business news

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Speaker 1: by Fear and Greed. Have a great day.