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Speaker 1: It's Friday, the fourth of July 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: Whill we give you the top five business stories you

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Speaker 1: need to know intus five minutes. I'm Michael Thompson and

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Speaker 1: good morning Adam Lange.

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Speaker 2: Good morning, Michael, Adam.

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Speaker 1: Five stories, five minutes.

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Speaker 2: Let's go.

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Speaker 1: Sorry, Number one's a big one. There's a growing debate

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Speaker 1: among investors about the timing of the big switch on

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Speaker 1: the ASX rotating away from the big banks and into

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Speaker 1: the big miners. Investors say there'll be a catalyst that

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Speaker 1: will change sentiment and that that could occur at any

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Speaker 1: point now. Bank stocks jumped twenty six percent in the

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Speaker 1: twelve months to June, helped by a forty five percent

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Speaker 1: rally in Commonwealth Bank as superannuation giants, passive funds and

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Speaker 1: offshore managers brought into the stock. Buying into Commonwealth Bank

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Speaker 1: took money away from the other major sector, being resources,

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Speaker 1: which dropped eight percent as the mining behemoths were hit

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Speaker 1: by ongoing weakness in China's property market and the iron

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Speaker 1: ore prize.

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Speaker 2: Yes, yeah, Michael, it's a seismic event, this great rotation.

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Speaker 2: Commonwealth bank is the focus of discussions at the moment,

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Speaker 2: and its share of the SMPAX two hundred has jumped

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Speaker 2: over the past year from nine percent to just short

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Speaker 2: of twelve percent. According to MST Marquee strategist Hassan Trevik,

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Speaker 2: if CBA were trading at more normal levels, the SMPASEX

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Speaker 2: two hundred would actually fall five percent. CBA's success has

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Speaker 2: meant that the fund managers who avoided buying the stock

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Speaker 2: or held a smaller waiting than the benchmark index, they've

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Speaker 2: generally underperformed. Investors still think the country's largest company is overpriced.

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Speaker 2: Most investment bank analysts have a cell rating on the

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Speaker 2: CBA shares, but it is risky to shy away from it.

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Speaker 1: Yeah. Absolutely, and this is where the resources company catalyst

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Speaker 1: becomes important. A renewed push by Beijing to tackle China's

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Speaker 1: inflationary spiral has helped the local i in all miners

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Speaker 1: and others, hinting that the rotation into miners might just

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Speaker 1: be on the way. Okay, moving on to story number two. Now,

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Speaker 1: Adam and Foreign Minister Penny Wong's as US Secretary of

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Speaker 1: State Marco Rubio is keen to reschedule a meeting between

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Speaker 1: Donald Trump and Anthony Albanezi. This was the meeting that

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Speaker 1: was missed on the sidelines of the G seven recently.

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Speaker 1: She said Trump is a very very busy man, but

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Speaker 1: Rubio made it clear they wanted a meeting. She also

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Speaker 1: downplayed the suggestion that Australia could use preferential access to

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Speaker 1: critical minerals as leverage in trade talks with the US.

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Speaker 2: Yes, Michael, Senator Wong pointed out that the US has

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Speaker 2: a trade surplus with Australia, going on to say that

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Speaker 2: there's a lot of benefit to the United States from

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Speaker 2: the free tariff arrangements that exist under our Free Trader Agreement.

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Speaker 1: Story number three. Almost one hundred and twenty employees in

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Speaker 1: Microsoft's Australian operations will lose their jobs as part of

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Speaker 1: a global cull of nine thousand staff. It's the second

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Speaker 1: redundancy round to hit the company in two months, and

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Speaker 1: it comes as the local operations are in a period

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Speaker 1: of transition after its local managing director, Stephen Worrell, was

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Speaker 1: poached by Telstra to run its infrastructure division and in May.

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Speaker 1: Microsoft hasn't yet appointed a successor, Michael.

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Speaker 2: The new global redundancy plan represents just under four percent

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Speaker 2: of Microsoft's global workforce, and the company plans to apply

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Speaker 2: the percentage job losses to each of its country operations.

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Speaker 2: And this is according to the Australian Financial Review. Workers

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Speaker 2: in its Xbox division and sales staff have been called

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Speaker 2: out as targets, but the cuts could be applied more broadly.

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Speaker 2: In May, when Microsoft cuts six thousand staff globally, it

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Speaker 2: meant that up to one hundred staff from its local

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Speaker 2: workforce of just under three thousand were set to leave.

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Speaker 2: This new redundancy round will claim more than this, somewhere

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Speaker 2: between one hundred and ten and one hundred and twenty workers.

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Speaker 1: Okay. Story number four. Eileen Bond, the former wife of

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Speaker 1: late West Australian businessman Allan Bond, has died at the

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Speaker 1: age of eighty seven after a medical episode over the weekend.

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Speaker 2: Yeah Michael, nicknamed Red, Eileen Hughes married Allen Bond in

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Speaker 2: nineteen fifty five at the age of seventeen, a year

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Speaker 2: after the pair met at a ballroom dancing class. They

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Speaker 2: became the highest profile business couple of the nineteen eighty ses.

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Speaker 2: With Alan Bond's empire expanding across mining, media and sporting assets.

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Speaker 2: The couple had four children and were married for almost

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Speaker 2: four decades before divorcing in nineteen ninety two, just as

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Speaker 2: Bond's business empire collapsed. Alan Bond ultimately ended up in

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Speaker 2: jail for sipning funds from a company Bell Resources to

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Speaker 2: prop up Bond Corp.

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Speaker 1: Okay last one story number five. Tesla is headed for

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Speaker 1: another year of shrinking sales after it posted a second

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Speaker 1: straight drop in quarterly deliveries, dragged down by CEO Elon

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Speaker 1: Musk's right wing political stance and an aging vehicle lineup

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Speaker 1: that's turned off some buyers. The automaker now needs to

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Speaker 1: deliver over one million vehicles in the typically strong second

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Speaker 1: half to avoid another annual sales to client, according to

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Speaker 1: Routter's Michael.

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Speaker 2: Some analysts say it is too hard a task due

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Speaker 2: to tariff driven economic uncertainty and threats to phase out

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Speaker 2: key ev incentives under the Trump administration. Sweeping tax bill

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Speaker 2: still shares down about a quarter this year rose four

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Speaker 2: point five percent, as the drop was less severe than

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Speaker 2: the bleakest analyst views, partly helped by a modest demand

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Speaker 2: recovery in the competitive Chinese market, whereas refreshed model hy

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Speaker 2: has actually gained some more traction.

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Speaker 1: Okay, there we go, the top five business stories in

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Speaker 1: five minutes. Thank you very much, Adam, Thank you Michael.

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Speaker 1: It is Friday, the fourth of July 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 fast five business news

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Speaker 1: by Fear and Greed.

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Speaker 2: Had a great day,