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Speaker 1: It's Thursday, the twenty second of August twenty twenty four.

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

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

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Speaker 1: need to know in US five minutes are Michael Thompson

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Speaker 1: and Good morning Sean Aylmer.

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Speaker 2: Good morning Michael.

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Speaker 1: Sean Five stories, five minutes. Let's go story number one.

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Speaker 1: The federal government that's been a massive day in Canberra

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Speaker 1: struck a deal to pass contentious changes to the NDIS,

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Speaker 1: greenlighted the country's biggest renewables project, change legislation around pornography,

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Speaker 1: given staff as a pay rise, and been forced to concede.

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Speaker 1: It has canceled some visas for migrants from Gaza.

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Speaker 2: Very busy, Let's start with the NDS. Minister Bill Shorten

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Speaker 2: has struck a deal with the States and territories the

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Speaker 2: past labour's overhaul of the scheme, bringing to an end

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Speaker 2: of a month long standoff. The goal is to contain

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Speaker 2: the surging costs of the NDIS by about fourteen billion

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Speaker 2: dollars over four years, and the changes will shift some

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Speaker 2: responsibilities of the scheme's functions to the States. On the

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Speaker 2: Middle East Primester, anth in the Alberanesi has for the

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Speaker 2: first time confirmed that a number of visitor visas granted

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Speaker 2: to Palestinian refugees fleeing Gaza since the October seven Hamas

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Speaker 2: attack have been cancelled. The governments, under pressure on this

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Speaker 2: one onto the pornography rules. Proposed laws to ban the

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Speaker 2: non consensual creation and dissemination of deep fake pornography have

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Speaker 2: passed the sound paving the way for their passage through

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Speaker 2: the Parliament, and nearly two thousand federal political staffers will

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Speaker 2: receive an eleven percent pay hike over three years, the

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Speaker 2: maximum amount that can be awarded under government rules after

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Speaker 2: a new workplace deal was done. Also includes forty thousand

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Speaker 2: dollars travel allowance for electric office staff and fifteen hundred

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Speaker 2: dollars allowance the staff that use a second language in

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Speaker 2: their line of work.

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Speaker 1: Michael Shawn from a business perspective, I suppose the biggest

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Speaker 1: one would have to be environment Minister Tania Plebs giving

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Speaker 1: the go ahead to the country's biggest renewables project.

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Speaker 2: I think that's right. Sun Cables one, environmental approvals from

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Speaker 2: the Albanesian Northern Territory governments and the forty billion dollars

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Speaker 2: spend is slated to produce enough power for three million homes.

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Speaker 2: The Australia Asia Power Link, by Atlasian billionaire Mike Kennon Brooks,

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Speaker 2: will be the biggest solar farm in Australia, based on

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Speaker 2: twelve thousand hectares in the Northern Territory and includes an

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Speaker 2: eight hundred kilometer transmission line to Darwin a four thousand

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Speaker 2: kilometer transmission line through to Singapore. It's ambitious, so the

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Speaker 2: least its first goal is to deliver green power to

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Speaker 2: industrial users in Darwin, Okay.

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Speaker 1: Moving on to story number two now tracking company wise

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Speaker 1: tech Global share price surged eighteen percent yesterday after the

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Speaker 1: Tech Darling forecast revenue growth of thirty percent this year.

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Speaker 2: It didn't hit its revenue forecast for last year, but

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Speaker 2: that didn't seem to matter, with Wistech's share price jumping

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Speaker 2: to a record high of one hundred and ten dollars.

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Speaker 2: CEO and founder Richard White Ouran's about thirty nine percent

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Speaker 2: of the company. He's well jumped one point seven billion

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Speaker 2: dollars to more than fourteen billion dollars. Expectations were already high,

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Speaker 2: and weis Tech matched and beat them least in terms

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Speaker 2: of the outlook statement and profit margins, which are back

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Speaker 2: above fifty percent. Mister White announced the launch of three

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Speaker 2: new breakthrough products that excited the investors as well.

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Speaker 1: Story number three. Domino's Pizza Enterprises disappointed investors yesterday, saying

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Speaker 1: sales in the first seven weeks of this financial year

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Speaker 1: are slower than anticipated.

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Speaker 2: That's on top of its struggling Japanese and French businesses.

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Speaker 2: The stock tumbled six percent. They rebounded to finish down

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Speaker 2: just over one percent. Chief Executive Don Mays at a

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Speaker 2: turnaround of the French and Japanese groups over the next

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Speaker 2: twelve months is crucial to the overall fortunes of the company,

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Speaker 2: where he's been CEO since two thousand and two. Notwithstanding

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Speaker 2: a disappointing start to this financial year, the Australian and

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Speaker 2: New Zealand businesses performed well last financial year, underlying earnings

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Speaker 2: for up ten percent, and those markets Dominates has had

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Speaker 2: more success capturing single eat and lunch markets. Mister May

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Speaker 2: was quite relaxed about the emergence of Goosman egomes. He

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Speaker 2: said market research shows that eighty percent of Domino's customers

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Speaker 2: also eight McDonald's, so the risk posed by Gosman is minimal.

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Speaker 1: Story Number four Center Group is still supporting the families

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Speaker 1: and people affected by the Bondai Junction knife attacks in April.

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Speaker 1: With the operator of the Westfield Mall Group it had

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Speaker 1: permanently stepped up security in its centers.

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Speaker 2: Yes It was part of its results announcement yesterday. The

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Speaker 2: comments came as the group outlined a strong result across

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Speaker 2: its forty two malls in Australia and New Zealand, more

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Speaker 2: than doubling its first half net profit. While customer visits

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Speaker 2: are not yet back to twenty nineteen levels, they have

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Speaker 2: dramatically risen since the coronavirus crisis. The group's now striking

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Speaker 2: leasing deals with retailers at levels above their previous rents.

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Speaker 2: It's also taken back space from department stores like David

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Speaker 2: Jones to install more productive tenants. According to a story

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Speaker 2: in The Australian. The company's also backing the value of

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Speaker 2: shopping centers, teamed up with investment bank Baron Joey to

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Speaker 2: actually buy half stakes in its own malls. While luxury

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Speaker 2: sales aren't growing as much after incredible growth post COVID,

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Speaker 2: the fall off in trouble means people are staying at

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Speaker 2: home more time to shop at Westfield.

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Speaker 1: Story number five last one Seawan. Barack Obama declared that

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Speaker 1: the US was ready for a new chapter with Kamala

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Speaker 1: Harris as president in a rousing speech at the Democratic

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Speaker 1: National Convention, but he did warn the Democrats are facing

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Speaker 1: a height race to elect her and defeat Donald Trump.

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Speaker 1: In November, the former.

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Speaker 2: President deployed his political star power to try and quash

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Speaker 2: any doubts within the party over Harris's candidacy, while cautioning

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Speaker 2: the crowd against complacency about the election outcome. Although Obama,

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Speaker 2: who's now sixty three years of age, has been out

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Speaker 2: of office for nearly eight years, he's among the most

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Speaker 2: popular and influential Democrats, and party leaders hoped his primetime

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Speaker 2: address would help unite and mobilize its supporters behind Harris.

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Speaker 2: According to a report in The Financial Times, he was

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Speaker 2: back in Chicago, which is where it all began for him.

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Speaker 2: People were trying to draw parallels between his successful two

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Speaker 2: thousand and eight campaign to be elected the first black

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Speaker 2: US president and Harris's big to become the country's first

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Speaker 2: female president. He certainly gave some uff to that Democratic

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Speaker 2: National Convention.

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Speaker 1: Michael yeah, sure did. All right, there we go the

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Speaker 1: top five business stories in five minutes.

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Speaker 2: Thank you Sean, Thank you Michael.

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Speaker 1: It is Thursday, the twenty second of August twenty twenty four.

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Speaker 1: Remember hit follow on the podcast and five minutes isn't enough.

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Speaker 1: You can find our longer daily show called Fear and Greed.

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Speaker 1: I'm Michael Thompson and I was past Fire Business News

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