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Speaker 1: It's Thursday, the twenty third of October twenty twenty five.

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

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Speaker 2: Sean Aylmer, Good morning, Michael Shawn.

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Speaker 1: Five stories to race through in just five minutes. Let's

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Speaker 1: get cracking with sorry number one. The price of gold

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Speaker 1: fell by its largest amount in twelve years yesterday, hitting

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Speaker 1: returns for a raft of retail investors who have lined

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Speaker 1: up to buy bully and in recent weeks and plowed

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Speaker 1: money into exchange traded funds.

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Speaker 2: The price of the precious metal tumbled more than six

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Speaker 2: percent yesterday morning, albeit settling at a still very high level.

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Speaker 2: The price of sewer, which earlier this week earlier this

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Speaker 2: month hit a new high above nineteen eighty levels, also

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Speaker 2: tumbled down almost nine percent. Easing trade tensions between China

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Speaker 2: and the United States and a run of decent profits

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Speaker 2: from Wall Street banks triggered the latest sell off in gold.

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Speaker 1: Now.

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Speaker 2: It comes days after ASEX listed gold exchange trader funds

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Speaker 2: hit a record near billion dollars for the year, being

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Speaker 2: the previous peak of gold holdings during the COVID pandemic

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Speaker 2: according to global X, and queues around the ABC Bullion

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Speaker 2: store in Sydney have grown in recent weeks. What saw

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Speaker 2: this man, At least on paper, investors who bought gold

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Speaker 2: over the last week are now sitting on losses.

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Speaker 1: What did it mean for the ASEX gold companies? Just

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Speaker 1: how hard? Did they fall?

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Speaker 2: Very hard? Within the first few minutes of trade, a

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Speaker 2: bunch of them had lost about ten percent. Most telling

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Speaker 2: statistic yesterday, the thirteen worst performing stocks on the of

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Speaker 2: the ASEX two hundred all gold miners. Never seen that before.

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Speaker 2: They fell somewhere between seven and a half and ten

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Speaker 2: point three percent. We need to keep in mind that

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Speaker 2: gold and silver has surged in recent months, hit new

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Speaker 2: peaks and goals up fifty five percent this year. Bitcoin

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Speaker 2: percent ASEX two hundred and ten percent, so it still

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Speaker 2: is at a very high level. But it seems that

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Speaker 2: many retail investors have only recently bought into precious metals.

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Speaker 2: The risk is the market's peak now, the market's fickle.

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Speaker 2: Don't know what's going to happen, but a six percent

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Speaker 2: sell off doesn't all go well.

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Speaker 1: Okay, moving on to story number two now in Macquarie

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Speaker 1: Group is considering dropping hundreds of investment options from its

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Speaker 1: superinvestment platform, angering brokerage and financial planning clients and potentially

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Speaker 1: forcing retail investors to find new places to put their money.

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Speaker 2: Very important story for the financial planning industry. Last month,

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Speaker 2: mcquarie moved to block users from investing more money in

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Speaker 2: about eighty funds, including local and overseas private credit funds.

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Speaker 2: Now another five hundred investment options are under the spotlight.

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Speaker 2: According to the IFAR, there are a bunch of superinvestment platforms.

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Speaker 2: McQuary's got one, bt hub twenty four a bunch of

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Speaker 2: them there. They go between for mostly retail investors on

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Speaker 2: one side and the products on the other, kind of

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Speaker 2: the black box in the middle. If a product sits

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Speaker 2: on a platform, there's a tacit stamp of approval of

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Speaker 2: that product. McQuary and others got caught out recently when

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Speaker 2: shield Master Fund collapsed. Now to its credit, mcquery refunded

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Speaker 2: a bunch of clients on that, But what it's trying

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Speaker 2: to do is avoid the happening again. It does cause

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Speaker 2: aanks though. For financial planners who use the mcquari platform,

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Speaker 2: they might need to find new investments for their clients,

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Speaker 2: and retail investors themselves might find themselves in a position

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Speaker 2: where they want to use a fund but can't, at

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Speaker 2: least not through mcquari.

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Speaker 1: Story number three. House prices in Australia's capital cities arising

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Speaker 1: at the fastest pace in four years as following interest

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Speaker 1: rates supercharge the market.

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Speaker 2: In the September quarter, nearly every capital city recorded price

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Speaker 2: gains for both houses and units. The exception was camber units.

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Speaker 2: According to Domain's quarterly House price report, prices in Sydney, Brisbane,

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Speaker 2: Adelaide and Perth hit record highs. Melbourne, Hobak, Canberra Darwin

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Speaker 2: reached their highest median prices in years. Units are starting

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Speaker 2: to outpace homes as affordability issues kick in Michael.

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Speaker 1: Story number four. OpenAI has launched its own web browser

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Speaker 1: called Atlas, putting the chat GPT maker in direct competition

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Speaker 1: with Google's Chrome. As more Internet users rely on artificial

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Speaker 1: intelligence to answer their questions.

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Speaker 2: The idea is that making it easier to access open

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Speaker 2: AI's popular AI chatbot could allow the company to pull

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Speaker 2: in much more Internet traffic and revenue from digital advertising.

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Speaker 2: They would be taking that in large part from Google,

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Speaker 2: not just Google. It's worried about this. If chat gpt

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Speaker 2: effectively feeds people summarized information they want to know, then

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Speaker 2: they could stop exploring the Internet. That it harm many

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Speaker 2: online publishers. For example, open ai has said chat gpt

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Speaker 2: already has more than eight hundred million users, though many

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Speaker 2: of them get it for free. Open Ai has now

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Speaker 2: launched Atlas. It's on Apple laptops as we speak. Later

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Speaker 2: it will come to Microsoft's Windows, Apple's iOS phone operating system,

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Speaker 2: and ultimately Google's Android phone system. CEO Sam Altman called

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Speaker 2: it a rare once and had opportunity to rethink what

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Speaker 2: a browser can be about and how to use one.

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Speaker 1: Story number five Sean, we're pretty much cheating today. We're

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Speaker 1: going to wrap six stories into one. There's so much

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Speaker 1: going on in international news that we're just going to

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Speaker 1: do a brief bunch of stories in one sentence. I'll

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Speaker 1: go first. The planned meeting between Donald Trump and Vladimir

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Speaker 1: Putin for later in the week has been canceled, with

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Speaker 1: Trump saying he doesn't want a wasted meeting with the

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Speaker 1: Russian leader.

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Speaker 2: Japan has its first female Prime minister, Sane Takichi, has

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Speaker 2: been sworn in and immediately announced a package of economic

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Speaker 2: measures aimed at easing inflation.

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Speaker 1: The French government has confirmed that it will not receive

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Speaker 1: payouts for the loss of jewelry of inestimable historical value

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Speaker 1: stolen from the Louver Museum in Paris earlier in the

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Speaker 1: week because they weren't insured, even though Shawn the financial

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Speaker 1: value is around two hundred million dollars.

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Speaker 2: Netflix's share price fell despite the streaming group increasing revenues

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Speaker 2: by close to twenty percent in the third quarter. Problem

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Speaker 2: is that he's futed with Brazilian tax authorities.

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Speaker 1: General Motors share price surged after it said the Trump

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Speaker 1: tariffs wouldn't hit it as hard as expected. They now

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Speaker 1: cost four and a half billion dollars instead of five billion.

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Speaker 2: Lots of money still, and Mattel's share price tumbled after

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Speaker 2: the toymakers said the tariffs will hurt it and are

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Speaker 2: partly responsible for it missing revenue and earnings forecasts.

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Speaker 1: All right, there we go five and a half of

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Speaker 1: six or seven or eight stories in five minutes.

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Speaker 2: Thank you Sean, Thank you Michael.

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Speaker 1: It's Thursday, the twenty third of October twenty twenty five.

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Speaker 1: Remember to hit follow on the podcast end. 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. Had a great day,