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Speaker 1: It's Wednesday, the twenty fifth of February twenty twenty six.

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Speaker 1: Welcome 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. Are Michael Thompson

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Speaker 1: and Good morning, Sean.

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Speaker 2: Ailma, Good morning Michael Jahn.

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Speaker 1: Once again, if you're listening to this on Spotify through

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Speaker 1: the your Daily Drive playlist, please please please hit follow

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Speaker 1: on the podcast right now, because that playlist is going

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Speaker 1: to disappear very soon, and with it may disappear your

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Speaker 1: chance of finding the Fast five. So make sure you

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Speaker 1: hit follows ups nice and easy. Story Number one. Investors

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Speaker 1: are selling tech stocks as they reassess the costs and

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Speaker 1: benefits of AI, both of the companies that are facilitating

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Speaker 1: the large language models and also for those whose business

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Speaker 1: models are threatened by AI. It's most prevalent on Wall Street,

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Speaker 1: but it is flowing through to the market here as well.

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Speaker 1: We'll start with Wall Street. The sheer size of capital

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Speaker 1: spending this year on AI by big tech companies is massive.

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Speaker 1: It's in excess of one trillion dollars, and that has

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Speaker 1: triggered these concerns about when those companies are going to

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Speaker 1: see the payback from it, So.

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Speaker 2: Some are okay. So chip maker in video market leader

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Speaker 2: up slightly this year, huge KPEX plans, but it's actually

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Speaker 2: selling chips. It's making real money from the AI revolution.

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Speaker 2: By contrast, Microsoft going to sell promise to spend huge

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Speaker 2: amounts of money, Well that's not true. It's actually spending

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Speaker 2: huge amounts of money promised to make it back. Not

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Speaker 2: so sure, down nineteen percent. Amazon in a similar position,

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Speaker 2: its share prices off nine percent.

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Speaker 1: They're the providers of AI, from the kind of the

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Speaker 1: large language models, to the infrastructure and the data centers.

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Speaker 1: But what about the companies whose business models are threatened

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Speaker 1: by AI?

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Speaker 2: So local software provider at Lastin has listed on NASDAK.

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Speaker 2: It's share prices off fifty six percent this year, close

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Speaker 2: to eighty percent over the past year. The theory is

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Speaker 2: that it's what it does, which is basically help companies plan,

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Speaker 2: track and collaborate on projects, will be replaced by AI,

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Speaker 2: and we're seeing that in companies like Wysteat Global zero

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Speaker 2: Technology one. Okay.

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Speaker 1: Story number two sean scaling back the capital gains tax

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Speaker 1: concession for property investors would do little to help supply,

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Speaker 1: but it would help more the first home buyers get

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Speaker 1: into the market. This is according to the Federal Department

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Speaker 1: of Treasury. We heard a lot about it yesterday Yeah.

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Speaker 2: Appearing before the Senate inquiring into the fifty percent CGT

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Speaker 2: deduction for investors, Treasury Assistant Secretary Shane Johnson said modeling

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Speaker 2: showed the main impact from any change would be around

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Speaker 2: ownership mix that he suggested provide an opportunity for first

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Speaker 2: home buyers. The federal governments considering pairing back capital gains

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Speaker 2: tax concessions for investors. The hearing also heard from former

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Speaker 2: Reserve Bank boss Bernie Fraser. He said it should be abolished,

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Speaker 2: never ever feed saying already thought yeshraser opposite argument was

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Speaker 2: supplied by the Master Billers Association. He said removing the

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Speaker 2: deduction would result in fewer new homes being built, should

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Speaker 2: go higher prices, hurt Astraate's economic performance.

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Speaker 1: Story number three. The federal government has released a three

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Speaker 1: hundred page businessiness case for a one hundred and ninety

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Speaker 1: four kilometer fast rail link between Sydney and Newcastle, which

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Speaker 1: could carry trains two hundred meters long and travel up

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Speaker 1: to three hundred and twenty kilometers. An hour that take

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Speaker 1: about an hour to travel between the two cities.

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Speaker 2: About half the time it takes to drive. While the

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Speaker 2: cost is put out ninety two point six billion dollars,

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Speaker 2: the business case warns of inherent cost overrun risks, never

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Speaker 2: a good sign now, According to the Fair, much of

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Speaker 2: this was redacting the publicly available version of the business case.

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Speaker 2: According to the fin review, it included things like geotechnical risk,

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Speaker 2: project delays in station construction risks. The proposed high speed

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Speaker 2: rail link is far more complex than the inland rail

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Speaker 2: because it will require one hundred and fifteen kilometers of

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Speaker 2: twin tunnels. Passengers forecast that spend thirty minutes in tunnels

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Speaker 2: between Sydney and Gosford. Prime Minister Anthony Albernizi said the

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Speaker 2: high speed rail link would need significant private sector funding

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Speaker 2: to get off the ground.

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Speaker 1: I love trains as much as the next person, in fact,

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Speaker 1: arguably more than the next verson more than the next person.

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Speaker 1: I can't see this one ever actually getting off the ground.

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Speaker 1: Story Number four Center Group, the owner of Westfield shopping

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Speaker 1: centers in Australia, is pushing hard into residential housing. Its

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Speaker 1: Lodge proposals to develop more than sixteen thousand apartments at

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Speaker 1: six of its malls. It already has approval for forty

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Speaker 1: one hundred dwellings at Westfield Hornsby and Sydney and Westfield

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Speaker 1: Belconnen in Canberra. But there's a lot of other locations,

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Speaker 1: including at Brisbane, Carndale, Mount Cravat, Warringam Hall in Sydney,

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Speaker 1: Woden in Canberra, Knox and Southland in Melbourne.

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Speaker 2: It's all over the place, yeah look Senna's portfolio includes

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Speaker 2: the malls themselves, some vacant land, and the car parks

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Speaker 2: that surround shopping centers. Car parks provide particular scope for

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Speaker 2: redevelopment because you can always put the car parks underground.

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Speaker 2: The ultimate plan is more than residential student accommodation, health facilities,

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Speaker 2: education facilities. That's where Centner wants to get to. The

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Speaker 2: group book day sixty nine percent increase in net profit

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Speaker 2: thanks to revaluations. That was for last year. It's year

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Speaker 2: price closed down a couple of percent last one.

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Speaker 1: Story number five. Donald Trump is implementing a new global

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Speaker 1: tariff for ten percent rather than the fifteen percent announced

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Speaker 1: at the weekend after his defeat at the Supreme Court.

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Speaker 1: According to a notice from the US Customs Agency. There's

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Speaker 1: been a big backlash by the sounds of it to

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Speaker 1: the fifteen percent that was kind of voiced. Really, the

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Speaker 1: EU and the UK aren't happy.

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Speaker 2: Yeah, exactly. The White House signal that Trump was still

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Speaker 2: committed to setting a global tariff at fifteen percent, according

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Speaker 2: to the FT. After the Supreme Court on Friday ruled

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Speaker 2: that the sweeping levees Trump imposed on US training partners

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Speaker 2: based on emergency powers were illegal, the President quickly moved

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Speaker 2: to replace them under a different statute. So it's ten

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Speaker 2: percent for one hundred and fifty days. He then went

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Speaker 2: to fifteen percent. But now that they're implemented, implemented overnight,

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Speaker 2: they're at ten percent.

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Speaker 1: All right, there we go, the top five business stories

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Speaker 1: in five minutes. Thank you, Sean, Thank you, Michael. Wednesday,

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Speaker 1: the twenty fifth of February twenty twenty six. Remember to

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Speaker 1: hit follow on the podcast. If five minutes just isn't

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Speaker 1: enough for you, you can find our longer daily show called

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

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Speaker 1: Thompson and I was at Fast five Business News by

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Speaker 1: Fear and Greed. Have a great day,