1 00:00:03,920 --> 00:00:07,160 Speaker 1: It's Thursday, the thirteenth of November twenty twenty five. Welcome 2 00:00:07,200 --> 00:00:09,520 Speaker 1: to the Fast five Business News by Fear and Greed. 3 00:00:09,520 --> 00:00:11,280 Speaker 1: Will we give you the top five business stories you 4 00:00:11,320 --> 00:00:13,520 Speaker 1: need to know in just five minutes. I'm Michael Thompson 5 00:00:13,520 --> 00:00:14,800 Speaker 1: and good morning Sean Aylmer. 6 00:00:14,880 --> 00:00:16,440 Speaker 2: Good morning Michael, Sean. 7 00:00:16,640 --> 00:00:18,919 Speaker 1: Five stories in just five minutes. Let's get cracking with 8 00:00:18,960 --> 00:00:21,079 Speaker 1: storry Number one. The Liberal Party is set to join 9 00:00:21,120 --> 00:00:24,639 Speaker 1: its coalition partner the Nationals and dropping any reference to 10 00:00:24,720 --> 00:00:26,520 Speaker 1: net zero and it's a missions policy. 11 00:00:26,600 --> 00:00:29,760 Speaker 2: Following a marathon four hours and forty five minute party 12 00:00:29,840 --> 00:00:34,200 Speaker 2: room meeting yesterday, there wasn't any announcement of a final decision, 13 00:00:34,240 --> 00:00:37,520 Speaker 2: but there is a vote today. At yesterday's meeting, forty 14 00:00:37,600 --> 00:00:40,000 Speaker 2: nine mp spoke, according to medi who reports, twenty eight 15 00:00:40,080 --> 00:00:42,880 Speaker 2: wanted to abandon any mention of net zero, seventeen wanted 16 00:00:42,920 --> 00:00:46,159 Speaker 2: to keep it. Four unclear. Opposition leader Susan Lee's main 17 00:00:46,240 --> 00:00:50,240 Speaker 2: rival Angus Taylor, backed calls to dump net zero emissions, 18 00:00:50,720 --> 00:00:53,599 Speaker 2: as has her main numbers person Alex hawks So. Two 19 00:00:53,640 --> 00:00:56,920 Speaker 2: apparently did Lee's deputy and shadow treasure of Ted O'Brien 20 00:00:57,240 --> 00:01:00,480 Speaker 2: Liberal leadership Aspirin Andrew Hasty said a future coalition government 21 00:01:00,840 --> 00:01:03,720 Speaker 2: should be prepared to hold a double dissolutional election over 22 00:01:03,800 --> 00:01:08,240 Speaker 2: repealing Labour's climate legislation. Although moderates Andrew Bragg and Jane 23 00:01:08,280 --> 00:01:11,479 Speaker 2: Hume urged the Liberal Party to keep a net zero target, Taylor, 24 00:01:11,520 --> 00:01:13,479 Speaker 2: of course, was Energy Minister in the Morrison government when 25 00:01:13,480 --> 00:01:16,720 Speaker 2: Australia committed to net zero at the Glasgow cop summit 26 00:01:16,800 --> 00:01:20,320 Speaker 2: in twenty twenty one. Moderates who supported keeping net zero 27 00:01:20,400 --> 00:01:22,600 Speaker 2: as a target by twenty fifty argue that the party 28 00:01:22,680 --> 00:01:27,640 Speaker 2: risked losing younger voters. Party federal secretary Andrew Hurst presented 29 00:01:27,640 --> 00:01:30,080 Speaker 2: polling showing that most voters see net zero as a 30 00:01:30,080 --> 00:01:31,559 Speaker 2: proxy for climate change action. 31 00:01:32,080 --> 00:01:34,720 Speaker 1: Does it matter, Sean, will the electorate care about this 32 00:01:35,080 --> 00:01:37,480 Speaker 1: or do you think this is more about Susan Lee's leadership. 33 00:01:37,520 --> 00:01:39,080 Speaker 2: I mean, at this point, I think it's totally about 34 00:01:39,080 --> 00:01:41,720 Speaker 2: Susan and Lee's leadership. She struggled to maintain discipline in 35 00:01:41,760 --> 00:01:44,440 Speaker 2: the party, which, let's face it was she lacked at 36 00:01:44,440 --> 00:01:47,840 Speaker 2: the last election. They might be elected next time around. Either. 37 00:01:48,240 --> 00:01:52,200 Speaker 2: The vote today won't exactly holp her claim to be leader, 38 00:01:52,280 --> 00:01:54,240 Speaker 2: since she'll be on the losing side of it. A 39 00:01:54,280 --> 00:01:58,040 Speaker 2: handful of Conservative Liberals, including Taylor, arrived at yesterday's meeting 40 00:01:58,680 --> 00:02:00,800 Speaker 2: obvious show of unity. They all walked in together for 41 00:02:00,840 --> 00:02:03,560 Speaker 2: the cameras. Will she survived this debate? Probably? Will she 42 00:02:03,640 --> 00:02:06,080 Speaker 2: survive this time? Will be around this time next year 43 00:02:06,080 --> 00:02:07,520 Speaker 2: as leader of the Opposition? 44 00:02:07,920 --> 00:02:12,080 Speaker 1: I doubt hard to imagine. Story number two. The slide 45 00:02:12,160 --> 00:02:15,880 Speaker 1: in Commonwealth Bank's share price continues, with the aosx's largest 46 00:02:15,880 --> 00:02:19,560 Speaker 1: company now down ten percent in the past five sessions. 47 00:02:19,160 --> 00:02:20,680 Speaker 2: And most of the drop has been in the past 48 00:02:20,680 --> 00:02:23,880 Speaker 2: two days. Combank's quarterly update on Tuesday was a touch 49 00:02:24,120 --> 00:02:26,600 Speaker 2: softer than expected, and it's a worried about profit margin 50 00:02:26,639 --> 00:02:29,480 Speaker 2: pressures that the shift away from Commonwealth Bank is both 51 00:02:29,680 --> 00:02:35,040 Speaker 2: both marked and drastic. So ain Z this financial year 52 00:02:35,160 --> 00:02:38,680 Speaker 2: up thirty three percent, Westpac twenty percent, NAB up nine percent, 53 00:02:38,760 --> 00:02:42,519 Speaker 2: common weth Bank down thirteen percent. That is quite the shift. 54 00:02:42,880 --> 00:02:44,840 Speaker 2: Not that long ago we were saying the market cap 55 00:02:44,880 --> 00:02:47,720 Speaker 2: of Commonwealth Bank wasn't far off the taital value of 56 00:02:47,760 --> 00:02:50,920 Speaker 2: the other three combined. Now it's the market cap of 57 00:02:50,960 --> 00:02:53,800 Speaker 2: Westpac and National Australia Bank only. I mean I say only. 58 00:02:53,800 --> 00:02:56,280 Speaker 2: It's still a much bigger bank, but it is somewhat 59 00:02:56,280 --> 00:02:57,240 Speaker 2: coming back to the pack. 60 00:02:57,800 --> 00:03:00,880 Speaker 1: Story number three. The social media ban under sixteen year 61 00:03:00,919 --> 00:03:03,600 Speaker 1: olds is now less than a month away, and online 62 00:03:03,639 --> 00:03:07,280 Speaker 1: platforms are beginning to contact teenagers to tell them that 63 00:03:07,320 --> 00:03:09,600 Speaker 1: they need to make a decision about the data that's 64 00:03:09,600 --> 00:03:10,560 Speaker 1: held in their accounts. 65 00:03:10,560 --> 00:03:12,639 Speaker 2: Over one million accounts are likely to be pinned in 66 00:03:12,680 --> 00:03:16,840 Speaker 2: coming days, which with users offered a choice of downloading data, 67 00:03:16,880 --> 00:03:20,120 Speaker 2: freezing profiles, or losing the whole lot. The world first 68 00:03:20,240 --> 00:03:24,560 Speaker 2: band kicks in on ten December, TikTok, Snapchat, Facebook, Instagram, threads, 69 00:03:24,600 --> 00:03:28,280 Speaker 2: et cetera are set to deactivate accounts. According to Reuters, 70 00:03:28,520 --> 00:03:31,720 Speaker 2: social media companies will lean on software they already employ 71 00:03:32,200 --> 00:03:37,000 Speaker 2: to guess age based engagements on the basis of things 72 00:03:37,040 --> 00:03:40,480 Speaker 2: like likes, rather than just actually people asking people to 73 00:03:40,600 --> 00:03:44,240 Speaker 2: verify their birth dates. That software is long established, originally 74 00:03:44,240 --> 00:03:47,520 Speaker 2: developed for marketing purposes. Age assurance apps will only be 75 00:03:47,640 --> 00:03:51,080 Speaker 2: used when users complain of being incorrectly blocked, these social 76 00:03:51,120 --> 00:03:53,800 Speaker 2: media companies say. The rest of us, those over sixteen, 77 00:03:54,200 --> 00:03:56,119 Speaker 2: will largely be not affected. 78 00:03:56,680 --> 00:04:02,280 Speaker 1: Story number four. Foreign visitor arrivals to have finally, finally 79 00:04:02,520 --> 00:04:06,200 Speaker 1: sean returned to pre COVID levels, helped by some strong 80 00:04:06,240 --> 00:04:08,360 Speaker 1: traffic from New Zealand and he took six years. 81 00:04:08,400 --> 00:04:11,200 Speaker 2: Michael. Short term arrivals rose more than ten percent in 82 00:04:11,240 --> 00:04:15,160 Speaker 2: the year two September. According to the Bureau Statistics, holidaymakers 83 00:04:15,200 --> 00:04:17,560 Speaker 2: here six hundred and ninety seven one thousand of those 84 00:04:17,960 --> 00:04:20,919 Speaker 2: one point one million Australians returning from overseas. New Zealand 85 00:04:20,960 --> 00:04:24,440 Speaker 2: and counter for only twenty percent arrivals. Of arrivals as 86 00:04:24,440 --> 00:04:29,039 Speaker 2: opposed to rivals. We're talking football here, but we're not arrivals. 87 00:04:29,080 --> 00:04:33,120 Speaker 2: Twenty percent of arrivals. China remains below pre pandemic levels, 88 00:04:33,520 --> 00:04:36,320 Speaker 2: while arrivals from the UK, Singapore, India, South Korea and 89 00:04:36,400 --> 00:04:39,480 Speaker 2: Indonesia have all surpassed twenty nineteen figures. 90 00:04:39,720 --> 00:04:42,640 Speaker 1: Last one story number five. Menu Log, the Australian food 91 00:04:42,640 --> 00:04:46,000 Speaker 1: delivery platform famous for its ads involving Snoop Dogg and 92 00:04:46,120 --> 00:04:49,479 Speaker 1: Katie Perry, will close on the back of hundreds of 93 00:04:49,480 --> 00:04:51,240 Speaker 1: millions of dollars in losses. 94 00:04:51,000 --> 00:04:54,200 Speaker 2: Uberks and door dash I have pretty much eaten menu 95 00:04:54,240 --> 00:04:56,240 Speaker 2: Log or something like that. Maniu Log was founded in 96 00:04:56,320 --> 00:04:58,800 Speaker 2: two thousand and six as a digital marketplace that paired 97 00:04:58,839 --> 00:05:02,119 Speaker 2: local restaurants with every drivers. It was once Australia's largest 98 00:05:02,120 --> 00:05:04,840 Speaker 2: online food ordering platform. The company said it will close 99 00:05:04,839 --> 00:05:08,080 Speaker 2: its local operations on twenty six November, after attempting to 100 00:05:08,200 --> 00:05:13,520 Speaker 2: navigate challenging circumstances. Well, there were certainly expensive circumstances. Menu 101 00:05:13,560 --> 00:05:15,719 Speaker 2: log in twenty twenty two loss tour and seventy five 102 00:05:15,760 --> 00:05:17,960 Speaker 2: million dollars. Twenty twenty three lost one hundred and ten 103 00:05:18,000 --> 00:05:20,960 Speaker 2: million dollars. Last year thirty two million dollars. Probably not 104 00:05:21,040 --> 00:05:22,200 Speaker 2: a surprise they're closing. Yeah. 105 00:05:22,200 --> 00:05:24,320 Speaker 1: Indeed, all right, there we go the top five business 106 00:05:24,360 --> 00:05:26,480 Speaker 1: stories in five minutes. Thank you Sean, Thank you Michael. 107 00:05:26,520 --> 00:05:29,360 Speaker 1: It is Thursday, the thirteenth of November twenty twenty five. 108 00:05:30,160 --> 00:05:32,159 Speaker 1: Make sure you hit follow on the podcast to five 109 00:05:32,200 --> 00:05:34,360 Speaker 1: minutes isn't enough. You can find our longer daily show 110 00:05:34,400 --> 00:05:37,159 Speaker 1: called Fear and Greed whereever you listen to podcasts, and 111 00:05:37,240 --> 00:05:39,719 Speaker 1: head along to our website Fearangreed dot com dot au 112 00:05:39,839 --> 00:05:41,640 Speaker 1: or check the link in our show notes today to 113 00:05:41,640 --> 00:05:44,440 Speaker 1: sign up for our free daily newsletter. It lands in 114 00:05:44,480 --> 00:05:47,000 Speaker 1: your inbox by six am, and it is a cheat 115 00:05:47,040 --> 00:05:49,360 Speaker 1: sheet to make sure that you arrive at work a 116 00:05:49,440 --> 00:05:52,360 Speaker 1: little bit more prepared than your colleagues. I'm Michael Thompson, 117 00:05:52,400 --> 00:05:54,120 Speaker 1: and that was the fast five business news by fear 118 00:05:54,160 --> 00:05:55,320 Speaker 1: and greed. Have a great day.