1 00:00:03,840 --> 00:00:07,280 Speaker 1: It's Thursday, the thirtieth of January twenty twenty five. Welcome 2 00:00:07,320 --> 00:00:09,760 Speaker 1: to the Fast five Business News by Fear and Greed, 3 00:00:09,800 --> 00:00:11,800 Speaker 1: where we give you the top five business stories you 4 00:00:11,840 --> 00:00:14,360 Speaker 1: need to know in just five minutes. I'm Michael Thompson 5 00:00:14,400 --> 00:00:15,800 Speaker 1: and good morning, Sean Aylmer. 6 00:00:16,040 --> 00:00:17,079 Speaker 2: Good morning, Michael. 7 00:00:17,320 --> 00:00:20,640 Speaker 1: Sean. Five stories, five minutes. Story number one is a 8 00:00:20,680 --> 00:00:23,959 Speaker 1: big one. Inflation has fallen to its lowest level in 9 00:00:24,000 --> 00:00:28,320 Speaker 1: nearly four years, and the consensus among market economists Sean 10 00:00:28,520 --> 00:00:31,240 Speaker 1: is that the Reserve Bank will start cutting interest rates 11 00:00:31,680 --> 00:00:36,640 Speaker 1: next month. Figures from the Bureau Statistics show that headline 12 00:00:36,720 --> 00:00:39,120 Speaker 1: inflation was up just zero point two percent of the 13 00:00:39,159 --> 00:00:41,880 Speaker 1: December quarter two point four percent for all of twenty 14 00:00:41,960 --> 00:00:46,320 Speaker 1: twenty four, a bit lower than probably should be because 15 00:00:46,360 --> 00:00:48,640 Speaker 1: of energy rebates and housing costs, but it is the 16 00:00:48,680 --> 00:00:51,080 Speaker 1: lowest reading since March twenty twenty one. The underlying rate, 17 00:00:51,120 --> 00:00:53,680 Speaker 1: that's when the Reserve Bank worries, about zero point five 18 00:00:53,680 --> 00:00:56,319 Speaker 1: percent for the quarter three point two percent for the 19 00:00:56,480 --> 00:00:57,080 Speaker 1: full year. 20 00:00:57,840 --> 00:01:02,040 Speaker 2: Inflation. Underlying inflation is trent lower. Reserve Bank Governor Michelle 21 00:01:02,080 --> 00:01:05,080 Speaker 2: Bullaker said she'll start cutting rates when she believes underlying 22 00:01:05,120 --> 00:01:08,600 Speaker 2: inflation was heading sustainably into the two to three percent 23 00:01:08,680 --> 00:01:12,320 Speaker 2: target range that the bank likes. Treasury Jim Chalmers yesterday 24 00:01:12,319 --> 00:01:14,240 Speaker 2: said a soft landing for the economy was more and 25 00:01:14,280 --> 00:01:18,600 Speaker 2: more likely. He said that the country really was making 26 00:01:18,640 --> 00:01:22,240 Speaker 2: substantial and sustained progress on inflation. A load of market 27 00:01:22,280 --> 00:01:25,559 Speaker 2: economists now reckon a rate cut is likely next month, 28 00:01:25,600 --> 00:01:28,480 Speaker 2: including Westpax chief economist Lucy Ellis, used to be the 29 00:01:28,560 --> 00:01:31,319 Speaker 2: chief economist at the Reserve Bank, changed her mind yesterday, 30 00:01:31,520 --> 00:01:34,400 Speaker 2: brought it from May to February. Commonwealth pink ain Z 31 00:01:34,600 --> 00:01:37,440 Speaker 2: already at February certainly a strong chance of a rate 32 00:01:37,480 --> 00:01:38,560 Speaker 2: cut next month. 33 00:01:38,800 --> 00:01:42,240 Speaker 1: Shown people with mortgages and business loans will be happy. 34 00:01:42,280 --> 00:01:46,640 Speaker 1: But I reckon Prime Minister Anthony Albanezi could be even happier. 35 00:01:47,319 --> 00:01:49,320 Speaker 2: Yes, I think so. A rate cut next month ahead 36 00:01:49,320 --> 00:01:52,520 Speaker 2: of a federal poll will do him no harm at all. 37 00:01:52,560 --> 00:01:54,760 Speaker 2: Now it's worth noting that a rate cut is not 38 00:01:55,080 --> 00:01:58,520 Speaker 2: a done deal, but the readings yesterday are lower than 39 00:01:58,520 --> 00:02:01,640 Speaker 2: the Central Bank's forecast. When the Reserve Bank Board meets 40 00:02:01,640 --> 00:02:04,840 Speaker 2: on February seventeen eighteen, it could well justify n change 41 00:02:04,840 --> 00:02:06,960 Speaker 2: he wants to ensure in Fatian's under control is worried 42 00:02:07,000 --> 00:02:10,040 Speaker 2: about the global economy. It's worried about global trade wars 43 00:02:10,040 --> 00:02:14,200 Speaker 2: and that. But the Central Bank is under enormous political pressure, 44 00:02:14,360 --> 00:02:18,240 Speaker 2: perhaps covertly from government, but overtly from others like the ACTU. 45 00:02:18,840 --> 00:02:20,519 Speaker 2: The next question I think we'll be talking about is 46 00:02:20,560 --> 00:02:21,919 Speaker 2: how many cuts? Let's hope. 47 00:02:21,919 --> 00:02:26,080 Speaker 1: So story number two now sean Australian soldier Oscar Jenkins, 48 00:02:26,160 --> 00:02:30,120 Speaker 1: who was captured in Ukraine has been confirmed alive and 49 00:02:30,240 --> 00:02:33,000 Speaker 1: in custody, not dead as was previously feared. 50 00:02:33,280 --> 00:02:35,720 Speaker 2: The thirty two year old Melbourne teacher was serving in 51 00:02:35,840 --> 00:02:39,200 Speaker 2: Ukraine's armed forces when he was captured by Russian forces 52 00:02:39,280 --> 00:02:43,840 Speaker 2: last year. Yesterday, Foreign Minister Penny Wong confirmed the fact 53 00:02:44,240 --> 00:02:48,400 Speaker 2: that he is alive, but threatened an unequivocal response against 54 00:02:48,520 --> 00:02:52,800 Speaker 2: Russia should mister Jenkins face harm. Citing serious concerns for 55 00:02:52,919 --> 00:02:57,040 Speaker 2: his well being, She called on Russia to release mister Jenkins. 56 00:02:57,240 --> 00:03:00,000 Speaker 2: She said, if Russia doesn't provide mister Jenkins the protections 57 00:03:00,240 --> 00:03:04,600 Speaker 2: entitled to under international humanitarian law, our response will be unequivocal. 58 00:03:05,040 --> 00:03:08,440 Speaker 1: Okay. Soaring Number three Australian wine exports jumped by more 59 00:03:08,480 --> 00:03:11,280 Speaker 1: than one third last year to two point five to 60 00:03:11,400 --> 00:03:15,240 Speaker 1: five billion dollars thanks, of course to the abolition of 61 00:03:15,360 --> 00:03:17,360 Speaker 1: Chinese tariffs on the local drop. 62 00:03:17,440 --> 00:03:19,760 Speaker 2: That happened late March last year, and there was an 63 00:03:19,760 --> 00:03:23,720 Speaker 2: immediate improvement. In fact, sales to China last year we're 64 00:03:23,800 --> 00:03:27,399 Speaker 2: up thirty four percent. In total, we sold two point 65 00:03:27,480 --> 00:03:30,680 Speaker 2: five to five billion dollars worth of plank overseas. According 66 00:03:30,720 --> 00:03:34,200 Speaker 2: to Wine Australia, China takes about thirty six percent of exports. 67 00:03:34,200 --> 00:03:36,280 Speaker 2: That's the good news. The bad news. Exports to the 68 00:03:36,320 --> 00:03:39,000 Speaker 2: rest of the world fell by about thirteen percent. There 69 00:03:39,040 --> 00:03:42,120 Speaker 2: were big drops in major markets. United Kingdom was down, 70 00:03:42,240 --> 00:03:46,080 Speaker 2: New West was down, Hong Kong was down. Broadly, Wine 71 00:03:46,080 --> 00:03:48,800 Speaker 2: exports are facing challenges a couple of things, health and 72 00:03:48,840 --> 00:03:52,880 Speaker 2: wellness concerns. The other one rising cost of living. Not 73 00:03:52,960 --> 00:03:55,360 Speaker 2: helping is the fact that there's a gogibile supply at 74 00:03:55,360 --> 00:03:59,240 Speaker 2: the moment that's hurting prices. Good news sales to China up, 75 00:03:59,320 --> 00:04:01,360 Speaker 2: bad news sales everywhere else down. 76 00:04:01,840 --> 00:04:03,960 Speaker 1: Story number four involves it's got to be one of 77 00:04:03,960 --> 00:04:07,360 Speaker 1: the most recognizable brands in the country now. Chemist Warehouse 78 00:04:07,440 --> 00:04:11,000 Speaker 1: and shareholder meetings to approve the Sigma Healthcare chemist Warehouse 79 00:04:11,000 --> 00:04:14,360 Speaker 1: merger were held last night. Green light sean to create 80 00:04:14,360 --> 00:04:16,000 Speaker 1: a thirty billion dollar company. 81 00:04:16,240 --> 00:04:19,720 Speaker 2: That's right. Sigma is listed on the AX. Shareholders love 82 00:04:19,760 --> 00:04:22,600 Speaker 2: of the deal basically it triggered a rerating. So pre 83 00:04:22,720 --> 00:04:24,600 Speaker 2: the deal, Sigma was training at seventy six and a 84 00:04:24,600 --> 00:04:28,240 Speaker 2: half cents a share by its clothes on Tuesdays. Last 85 00:04:28,279 --> 00:04:32,120 Speaker 2: as a standalone company three dollars and three who wouldn't 86 00:04:32,120 --> 00:04:34,960 Speaker 2: mind being on that chemist's warehouse is a family owned business. 87 00:04:35,040 --> 00:04:37,960 Speaker 2: The deal will make founders Jack and Sam Grants, as 88 00:04:38,000 --> 00:04:42,040 Speaker 2: well as Mario Rocky billionaires combined. They owned about fifteen 89 00:04:42,040 --> 00:04:44,599 Speaker 2: billion dollars worth of that company. Shares are set to 90 00:04:44,600 --> 00:04:47,760 Speaker 2: begin trading on February thirteen. Because it's a new company, 91 00:04:47,760 --> 00:04:50,839 Speaker 2: it's so big, plenty of index funds index investors will 92 00:04:50,839 --> 00:04:52,760 Speaker 2: be forced to buy into the company and that should 93 00:04:52,760 --> 00:04:53,800 Speaker 2: support its share price. 94 00:04:54,600 --> 00:04:57,960 Speaker 1: Last one sean story number five. Just get your pen 95 00:04:58,040 --> 00:05:00,200 Speaker 1: out to take notes on this one because it to 96 00:05:00,200 --> 00:05:04,640 Speaker 1: focus on this booking and international airfare on a Sunday 97 00:05:05,000 --> 00:05:09,080 Speaker 1: eight weeks in advance, and flying on a Thursday, preferably 98 00:05:09,120 --> 00:05:11,400 Speaker 1: in January. All right, if you can tick all of 99 00:05:11,440 --> 00:05:14,000 Speaker 1: those boxes, that is the best way to save money 100 00:05:14,000 --> 00:05:14,640 Speaker 1: on airfares. 101 00:05:15,279 --> 00:05:20,040 Speaker 2: That's according to Expedia's latest report called air Hacks, it 102 00:05:20,040 --> 00:05:22,880 Speaker 2: looked at all the bookings across its site. We're talking 103 00:05:23,000 --> 00:05:25,719 Speaker 2: hundreds of thousands of bookings here, and it found bookings 104 00:05:25,720 --> 00:05:28,320 Speaker 2: on a Sunday saved as much as seventeen percent off 105 00:05:28,360 --> 00:05:32,520 Speaker 2: international fairs. This is in Australia, twenty percent off domestic fares. 106 00:05:32,839 --> 00:05:35,000 Speaker 2: If you fly overseas on a Thursday, you can save 107 00:05:35,080 --> 00:05:38,800 Speaker 2: eight percent twenty seven percent. If you're flying domestically, do 108 00:05:38,880 --> 00:05:40,920 Speaker 2: that on a Saturday, you save that twenty seven percent. 109 00:05:41,080 --> 00:05:44,360 Speaker 2: January is the cheapest month for domestic and international airfares, 110 00:05:44,360 --> 00:05:46,640 Speaker 2: about eleven percent less than September, which is the most 111 00:05:46,880 --> 00:05:50,440 Speaker 2: expensive month. The quietest month for air travel is February, 112 00:05:50,720 --> 00:05:53,560 Speaker 2: and in terms of booking ahead, well eight weeks for 113 00:05:53,600 --> 00:05:56,919 Speaker 2: international travelers seems to be the prime point if you 114 00:05:56,960 --> 00:05:59,159 Speaker 2: want to get a cheap, a fair six months for 115 00:05:59,240 --> 00:06:00,000 Speaker 2: domestic travel. 116 00:06:00,360 --> 00:06:02,560 Speaker 1: All right, there we go the top five business stories 117 00:06:02,560 --> 00:06:05,159 Speaker 1: in five minutes. Thank you Sean, Thank you Michael. It 118 00:06:05,240 --> 00:06:08,400 Speaker 1: is Thursday, the thirtieth of January twenty twenty five. Remember 119 00:06:08,440 --> 00:06:11,080 Speaker 1: to hit follow on the podcast, and if five minutes 120 00:06:11,120 --> 00:06:13,520 Speaker 1: isn't enough, you're can find our longer daily show called 121 00:06:13,560 --> 00:06:16,640 Speaker 1: Fear and Greed wherever you listen to podcasts. I'm Michael 122 00:06:16,680 --> 00:06:18,719 Speaker 1: Thompson and that was the Fast five Business news by 123 00:06:18,800 --> 00:06:22,800 Speaker 1: Fear and Greed. Have a great day.