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Speaker 1: It's Thursday, the eighteenth of September 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. A'm 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: A frantic and unusual twenty four hours in federal politics.

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Speaker 1: We've had Prime Minister Anthony Alberanzi signing a joint communicator

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Speaker 1: committing with Papua New Guinea to pursue a mutual defense treaty.

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Speaker 1: We've had Opposition leader Susan Lee giving a major economic speech,

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Speaker 1: and we've had Treasurer Jim Chalmers saying the Liberal Party

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Speaker 1: is being run by a quote weird collection of cookers

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Speaker 1: and crackpots.

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Speaker 2: Yes. First off, Anthony Alberzi and James Marape, the p

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Speaker 2: ANDNG Prime minister, have agreed on the text of a

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Speaker 2: mutual defense treaty, which will be signed following cabinet processes

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Speaker 2: in both countries. Hasn't been signed, just the communicates been signed.

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Speaker 2: The idea is that it sets out well the ambition

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Speaker 2: to establish a recruitment pathway for PUPLA and New Guinea

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Speaker 2: citizens into the Australian Defense Force. When signed, it will

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Speaker 2: be Australia's first new formal alliance in seventy years. That

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Speaker 2: came as former US Deputy Secretary of State Kurt Campbell

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Speaker 2: said the expected meeting between Albanezi and Donald Trump would

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Speaker 2: be the most consequential meeting between an Australian PM and

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Speaker 2: US president in decades. Meanwhile, Susan Lee called for more

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Speaker 2: sustainable management of the budget. She argued that Australia is

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Speaker 2: trapped in a post pandemic mindset of government dependency that's

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Speaker 2: hurting into generational inequity and driving up debt. Must be

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Speaker 2: nice for her to actually talk about something outside coalition politics.

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Speaker 1: Yeah, indeed, that is all the serious stuff now, Sean.

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Speaker 1: Let's get to the weird collection of cookers and crackpots though.

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Speaker 2: Right so, Jim Chalmers said cookers and crackpots talking about

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Speaker 2: the opposition in relation to some members of the Conservative

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Speaker 2: Parties wanting to abandon net zero commitments. Now, James Patterson

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Speaker 2: and the Opposition finance spakesperson came out later in the

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Speaker 2: day and said we're not going to abandon it. It

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Speaker 2: wasn't the only left field discussion involving charmers. Yesterday, he

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Speaker 2: came out in support of ABC journalist John Lyons after

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Speaker 2: the lions was rebuked by US President Donald Trump for

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Speaker 2: asking whether it was appropriate that he Trump maintained business

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Speaker 2: interests while in office. The US President said Liones questions

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Speaker 2: were damaging to the US Australia relationship. I quote him,

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Speaker 2: in my opinion, you are hurting Australia very much right now,

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Speaker 2: and they want to get along with me. Your leader

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Speaker 2: is coming over to see me very soon. I'm going

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Speaker 2: to tell him about you. You said a very bad tone.

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Speaker 1: All right, there we go. That's story number one. Sorry

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Speaker 1: number two. The Reserve Bank SEAN has almost sought a

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Speaker 1: kind of declared victory in the war on inflation, with

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Speaker 1: the central Bank's chief economists saying the organization is close

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Speaker 1: to achieving its dual goals of a strong jobs market

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Speaker 1: and stable prices.

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Speaker 2: Sarah Hunter said, I quote, we think, we hope that

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Speaker 2: we're pretty close to getting inflation back to target. It's

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Speaker 2: almost there. With inflation now falling. The Reserve banks cut

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Speaker 2: the cashtright three times. People or economists reckon there's another

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Speaker 2: one or two moves before the middle of next year.

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Speaker 2: In terms of unemployment four point two percent, hunter said

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Speaker 2: the job's market was also pretty close to full employment,

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Speaker 2: despite some excessive strength in some markets. Hunt had said

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Speaker 2: that after several years of financial stress caused by high

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Speaker 2: inflation and rising interest rates, the average household was past

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Speaker 2: the worst of the cost of living crisis. Hunta said

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Speaker 2: she expects inflation and jobs markets to stay roughly where

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Speaker 2: they are right now. Finally, some good news in the

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Speaker 2: world of economics.

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Speaker 1: On to story number three now, Sean and I've got

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Speaker 1: this one for you. This came as a bit of

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Speaker 1: a shock late last night Abu Dhabi National Oil Company

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Speaker 1: walking away from its thirty six billion dollar takeover bid

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Speaker 1: for Santos, which is Australia's second biggest oil and gas producer. Now,

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Speaker 1: this seems to have come out of the blue. Adnox

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Speaker 1: Foreign Investment XRG, which was leading the bidding consortium here,

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Speaker 1: said it had found factors during the due diligence work

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Speaker 1: on Santos that was effectively reducing its success of what

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Speaker 1: Santos was worth. Now, as I said, this came out

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Speaker 1: of the blue. It was a shock statement that was

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Speaker 1: issued because it's just two days now until the deadline

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Speaker 1: for a binding deal to be signed. XRG now saying

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Speaker 1: they are withdrawing their indicative bid and will not be

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Speaker 1: proceeding to a binding office, so the deal is dead.

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Speaker 1: Onto story number four. Now, Sean and climate change has

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Speaker 1: fueled soaring summer temperatures and killed an estimated sixteen and

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Speaker 1: a half thousand people in European cities this summer, pushing

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Speaker 1: overall heat deaths to more than three times what might

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Speaker 1: otherwise have occurred.

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Speaker 2: That's according to a new study out of Imperial College

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Speaker 2: in London. It gives a glimpse of the effects of

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Speaker 2: Europe's first fourth warmest summer on record. Heat Waves hit

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Speaker 2: countries from Italy to Germany and France. Temperatures reached up

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Speaker 2: to forty six degrees in Spain and Portugal. Several outdoor

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Speaker 2: workers died in Spain and Islam. Research is focused an

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Speaker 2: eight hundred and fifty four in areas, finding that temperatures

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Speaker 2: were as much as three point six degrees higher from

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Speaker 2: June through August due to climate change. Now Europe is

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Speaker 2: the world's fast fastest warming continent. The Mediterranean is a

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Speaker 2: hot spot for climate change okay.

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Speaker 1: Story number five Sean Virgin Australia has officially started welcoming

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Speaker 1: dogs and cats on board flights between Melbourne and the

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Speaker 1: Gold Coast.

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Speaker 2: The pets have to weigh less than eight kilograms, including

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Speaker 2: a pet carrier that slides under the seat in front

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Speaker 2: of the passenger for pets each flight. All in raise

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Speaker 2: nineteen or twenty one hundred and forty nine bucks and

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Speaker 2: Virgin reckons it's had overwhelmingly positive feedback. It also went

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Speaker 2: to great limits to explain emissions as in animal emissions.

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Speaker 2: The chief marketing officer said, our aircraft are fitted with

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Speaker 2: advanced high efficiency particulate air filtration systems which captured more

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Speaker 2: than ninety nine percent of airborne particles, including pet dander.

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Speaker 2: So there you go. I'm not rushing to jump on

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Speaker 2: a flight with a cat or dog, Michael.

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Speaker 1: No, I shan't be taking Monty on the plane with

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Speaker 1: me anytime soon, not least because we won't fit under

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Speaker 1: the seat in front. There we go, Sean the top

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Speaker 1: five business stories in five minutes.

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

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Speaker 1: It is Thursday, the eighteenth of September twenty twenty five.

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

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Speaker 1: isn't enough. You can find our longer daily show called

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Speaker 1: Beer and Greed wherever you listen to podcasts. I'm Michael Thompson.

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Speaker 1: That that was the past five business news by Beer

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Speaker 1: and Greed. Have a great day.