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Speaker 1: It's Friday, the eighth of August twenty twenty five. Welcome

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Speaker 1: to the Fast five Business News I fear and Agreed,

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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. Are Michael Thompson

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Speaker 1: and good Morning Sean.

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Speaker 2: Ayle My Good morning, Michael Thompson, Sean.

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Speaker 1: Five stories in five minutes. We had best get cracking

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Speaker 1: story number one, the workplace right. We've got a bit

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Speaker 1: of a theme here for the first couple. It starts

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Speaker 1: with Prime Minister Anthony Abernezi. He's defended criticism of Victorian

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Speaker 1: Premier Justinta Allen's push to legislate work from home, labeling

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Speaker 1: the stamps consistent with the views of the federal government.

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Speaker 2: Albaneasy likened arguments against the move to the absolute chaos

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Speaker 2: his words predicted when the Labor government introduced the right

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Speaker 2: to disconnect measures. The Prime Minister said working from home

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Speaker 2: is something that's important, something that aus challeans voted for

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Speaker 2: over the weekend. Of course, Allen said she wants to

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Speaker 2: legislate working from home two days a week for all

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Speaker 2: public and private sector workers, triggering a barrage of criticism

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Speaker 2: from the union movement.

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Speaker 1: And a report Sean, while we're talking workplaces, a reporter's

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Speaker 1: revealed incidents of parliamentary staff being spat at, physically abused,

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Speaker 1: and working large amounts of overtime.

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Speaker 2: The Review of Resourcing in Parliamentary Officers surveyed almost five

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Speaker 2: hundred parliamentarians and staff, eight percent of whom say they

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Speaker 2: work overtime. Seventy two percent say security incidents are increasing.

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Speaker 2: One individual to hold the Commission and I quote, I've

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Speaker 2: been pulled across the counter, I've been spat at, I've

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Speaker 2: had things thrown at me. Recommendations include improving security, workload

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Speaker 2: management and staff well being practiced. As Special Minister of

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Speaker 2: State Don Farrell to the Albanezi government has a firm

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Speaker 2: commitment to continuous improvement of the culture of the parliamentary workplace.

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Speaker 1: Okay, moving on to story number two now and the

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Speaker 1: corporate regulator is in the final stages of considering an

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Speaker 1: application to approve an alternative listing market to rival the ASX.

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Speaker 2: The Australian Securities and Investments Commission is considering an application

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Speaker 2: by CIBO Australia, which is a subsidiary of an American

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Speaker 2: groups Global Markets. The asset claims the move is expected

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Speaker 2: sorry a new player in the market would enhance competition

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Speaker 2: and attract foreign investment. According to Assek, it would provide

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Speaker 2: more choice for investors and greater international alignment. It comes

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Speaker 2: just today after a ticker mix up by the AX

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Speaker 2: wiped four hundred million dollars from TPG Telecom after incorrectly

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Speaker 2: connecting it to the sale of automotive software Business Info

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Speaker 2: medium the ASCIC News, alongside Wednesday's TPG disasked to send

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Speaker 2: the market operators share price down nine percent Yesterday.

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Speaker 1: Story number three. The federal government has taken a fifty

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Speaker 1: million dollar steak in lithium producer lion Town Resources, Wanting

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Speaker 1: to support the critical minerals company amid a commodities downturn.

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Speaker 2: Linetown will undertake a two hundred and sixty six million

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Speaker 2: dollar capital raising to shore up its balance sheet, of

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Speaker 2: which fifty million dollars has already been bankrolled by the

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Speaker 2: federal government's fifteen million dollar National Reconstruction Fund Corporation. How

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Speaker 2: can I get in one sentence, I think I've got

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Speaker 2: too many? Then, anyway, go on keep company's major shareholders

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Speaker 2: Gena rhin Hutch You won't be participating in the raising Previously,

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Speaker 2: the government's invested two hundred million dollars in our few

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Speaker 2: rare earths, but this not quite well. Obviously not unprecedented then,

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Speaker 2: but very unusual for the government to take a stake

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Speaker 2: in the listed company. The announcement triggered speculation that the

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Speaker 2: fund could take equity stakes or controlling interests in a

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Speaker 2: bunch of troubled metal smelters. The future of about a

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Speaker 2: dozen smelters and refineries covering aluminium, lead, copper and manganese

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Speaker 2: is in doubt. Some already have closed their doors due

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Speaker 2: to sawing power prices or trade distortions caused by Chinese competitors.

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Speaker 1: Story number four sean who said brix and Mortar retail

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Speaker 1: is dead or dying. Because this has been heralded as

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Speaker 1: the largest freestanding beauty store in the world. It is

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Speaker 1: opening today in Melbourne.

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Speaker 2: It's a mecha store. The Aussie beauty giant group three

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Speaker 2: stories and Burke Street said. Over four thousand square meters

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Speaker 2: that's about twenty tennis courts. That's a lot of beauty products.

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Speaker 2: The new flagship store boasts the hairdresser, nail salon, a

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Speaker 2: wellness apoff apothecary. Thank you very much a wellness apothecary

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Speaker 2: even a forest. The cost of the project has been

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Speaker 2: kept under wraps, but I dare say worth a pretty penny.

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Speaker 1: Do you have any idea what a wellness apothecary does?

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Speaker 2: Sean, yes, but let's move on.

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Speaker 1: I've got no idea anyway. Story number five, the countdown

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Speaker 1: is onto the US Tennis Open and it is set

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Speaker 1: to offer a record eighty five million US dollars or

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Speaker 1: one hundred and thirty million ossie and prize money across

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Speaker 1: all competitions. This is the largest perse in tennis history.

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Speaker 2: It's twenty percent higher than last year, which was the

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Speaker 2: largest person tennis history. It's gone up with more. This year.

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Speaker 2: Men's and women's singles winners will take home five million

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Speaker 2: US each, up from three point six million last year.

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Speaker 2: Similar percentage increases cascade down through the ranks follows discussions

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Speaker 2: between the sports leading players. With each of the four

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Speaker 2: major tournaments, including the Australian Open, French Open, and Wimbledon,

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Speaker 2: and the other two players basically won a high percentage

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Speaker 2: of revenues and in the case of the US Tennis Open,

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Speaker 2: they're getting it all right. There we go.

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Speaker 1: The top five business stories in five minutes.

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Speaker 2: Thank you very much, Sean, Thank you, Michael.

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Speaker 1: It is Friday, the eighth of August 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 past five Business news

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Speaker 1: by Fear and Greed. A great day,