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Speaker 1: It's Friday, the seventeenth of January 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. I'm Michael Thompson

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Speaker 1: and good morning Sean Aylmer.

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Speaker 2: Good morning, Michael Shawn.

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Speaker 1: Five stories, five minutes. Let's get going. Story number one

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Speaker 1: is a big one, A bumper jobs report yesterday shows

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Speaker 1: that more than fifty six thousand people found work last month,

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Speaker 1: which was much much higher than expected and enough to

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Speaker 1: dampen expectations of an interest rate cut before May.

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Speaker 2: About four times higher than expected. Michael, predictions that are

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Speaker 2: slowed down in the labor market being made for about

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Speaker 2: the last twelve months. They haven't arrived yet. Fifty six

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Speaker 2: three hundred new jobs last month. The unemployment rate went

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Speaker 2: from three point nine percent to four percent, still very

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Speaker 2: very low. The participation rate people in the workforce looking

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Speaker 2: for a job it hit a record high of sixty

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Speaker 2: seven point one percent. Now the bottom, the top line

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Speaker 2: is very Strongerneath that, the big jump was in part

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Speaker 2: time jobs. There was actually lots of full time jobs. Underemployment,

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Speaker 2: farl ours work rose, no doubt. Overall, it was a

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Speaker 2: very strong report. Jim Chalmers, the Treasurer, thoughts though he

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Speaker 2: said the economy was coming in for a soft landing

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Speaker 2: interest rates.

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Speaker 1: Sean, what does it mean.

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Speaker 2: Well, it probably means that there's no need for the

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Speaker 2: Reserve Bank to rush in cutting raids. They can probably

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Speaker 2: afford to wait and see. Last week we had November

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Speaker 2: underlying inflation figures. They were really good. We get the

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Speaker 2: whole December quarter next week. This also economic growth figures

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Speaker 2: coming up late, more labor force figures coming up, So

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Speaker 2: I think the Reserve Bank will probably just sit back

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Speaker 2: and wait for a while.

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Speaker 1: So all the growing enthusiasm about a rate cut next month,

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Speaker 1: maybe just put the brakes on a little bit.

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Speaker 2: I think so diffused somewhat indeed.

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Speaker 1: Okay, story number two Sean, the strong jobs number yesterday,

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Speaker 1: it didn't seem to stop the local share market much,

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Speaker 1: with the ASX ending up nearly one and a half percent.

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Speaker 2: So you think it might because if we're not having

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Speaker 2: rate cuts, that might hurt earnings, so therefore the share

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Speaker 2: market could be hurt. Not yesterday, Basically, we've got inflation

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Speaker 2: figures out of the US. They were lower than expected

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Speaker 2: easing fears about inflation the world's biggest economy. That sent

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Speaker 2: up Wall Street. We followed. The big banks were the

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Speaker 2: best performers. Comm Wealth Bank jumped three percent, biggest company

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Speaker 2: on the burse jumping three percent. That's a pretty you

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Speaker 2: end up having a good day for the AX. All

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Speaker 2: the rate sensitive tech and property stocks tended to outperform

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Speaker 2: the underperformers. They were the stocks that were less reliant

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Speaker 2: on interest rates, things like healthcare companies, consumer stable companies,

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Speaker 2: utility companies. Stock specific zip code jumped after Sezel, which

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Speaker 2: is another buy and now pay later group, upgraded its

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Speaker 2: revenue guidance. Neuron Pharmaceuticals rebounded after a tough session the

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Speaker 2: previous day. Tab Corp Holdings jumped after it announced its

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Speaker 2: first ever chief wagering officer. All in all, the market

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Speaker 2: was at one point four percent yesterday.

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Speaker 1: Umber three Prime Minister Anthony Alberizi has welcomed the announcement

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Speaker 1: of a six week ceasefire between Israel and Hermas following

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Speaker 1: fifteen months of conflict.

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Speaker 2: The deal to end the war was announced following days

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Speaker 2: of negotiations in Guitar and is due to begin on

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Speaker 2: Sunday around twelve hundred Israelis and forty six thousand Palestinians

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Speaker 2: have been killed over the course of the war. The

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Speaker 2: deal promises the release of thirty three of the nearly

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Speaker 2: one hundred Israeli hostages over the initial six week halt

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Speaker 2: to fighting, with some Palestinian prisoners also to be returned

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Speaker 2: from Israel. Second phase the deal will include negotiations over

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Speaker 2: the six weeks to permanently end the war. A third

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Speaker 2: phase will include the return of the final hostages and

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Speaker 2: reconstruction of Gaza. Anthony Alberanzi said that the agreement was

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Speaker 2: a constructive step towards peace and stability. He said it

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Speaker 2: must mark the beginning of a new chapter for the

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Speaker 2: Israeli and Palestinian people.

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Speaker 1: Story number four. President Joe Biden has used his farewell

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Speaker 1: address to the nation yesterday to deliver stark warnings about

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Speaker 1: an oligarchy of the ultra wealthy taking root in the

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Speaker 1: country and a tech industrial complex that is infringing on Americans'

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Speaker 1: rights and the future of democracy. I can't figure out

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Speaker 1: who he's talking about here. Can he help me out?

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Speaker 2: No idea? Speaking from the Oval Office, mister Biden, as

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Speaker 2: he prepares to hand over power to President Electorald Trump

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Speaker 2: sees what is likely to be his final opportunity to

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Speaker 2: address the country, to spotlight the accumulation of power and

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Speaker 2: wealth in the US among just a few people, and

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Speaker 2: I quote today an oligarchy is taking shape in America

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Speaker 2: of extreme wealth, power and influence that literally threatens our

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Speaker 2: entire democracy, our basic rights and freedoms, and a fair

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Speaker 2: shot for everyone to get ahead. He drew attention to

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Speaker 2: a dangerous concentration of power in the hands of a

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Speaker 2: few ultra wealthy people and the dangerous consequences of their

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Speaker 2: abuse of power if left unchecked.

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Speaker 1: Last one story number five, Starbucks Sean will require people

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Speaker 1: visiting its coffee shops to buy something in order to

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Speaker 1: stay or to use its toilet. Seems fair enough to me.

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Speaker 2: It does, but it's not very starbucks ish. Lounging the

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Speaker 2: Starbucks lounge, favored pastime of many, ain't going to be allowed.

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Speaker 2: The new policy outline and a code of conduct will

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Speaker 2: be enacted later this month. It applies to the company's cafes, patios,

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Speaker 2: and bathrooms. It's a pretty practical step, really, to help

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Speaker 2: prioritize paying customers who want to sit around and enjoy

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Speaker 2: the cafes, find a seat, use the restrooms, et cetera. However,

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Speaker 2: it does reverse a policy Starbucks Institute in twenty eight

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Speaker 2: and that said people could just come in use the

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Speaker 2: cafes in bathrooms even if they hadn't bought anything there.

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Speaker 1: We go to the top five business stories in five minutes.

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Speaker 1: Thank you very much, Sean, Thank you, Michael. It is Friday,

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Speaker 1: the seventeenth of January twenty twenty five. Remember to hit

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Speaker 1: follow on the podcast and in five minutes, isn't it enough?

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Speaker 1: You can find our longer daily show called Fear and

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

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Speaker 1: that was the fast five business news by Fear and Greed.

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Speaker 1: Have a great day.