1 00:00:04,200 --> 00:00:07,000 Speaker 1: Welcome to the weekend edition of The Fast Five Business 2 00:00:07,000 --> 00:00:10,000 Speaker 1: News by Fear and Greed. I'm Michael Thompson and Hello 3 00:00:10,200 --> 00:00:13,520 Speaker 1: Sean Aylmer, Hello Michael Sewan. On weekdays, it's all about 4 00:00:13,560 --> 00:00:16,040 Speaker 1: the Fast five, the top five business stories in five minutes. 5 00:00:16,079 --> 00:00:17,600 Speaker 1: On the weekend, though, we are still going to keep 6 00:00:17,640 --> 00:00:19,480 Speaker 1: it to five minutes, but we are going to pick 7 00:00:19,480 --> 00:00:22,119 Speaker 1: out the biggest business story of the week, the most 8 00:00:22,160 --> 00:00:26,040 Speaker 1: remarkable story mystery category changes every week, and then our 9 00:00:26,160 --> 00:00:28,880 Speaker 1: favorite story. So let's jump into it. What was the 10 00:00:28,920 --> 00:00:32,199 Speaker 1: biggest business story of the week. Oh, it's great to 11 00:00:32,200 --> 00:00:34,280 Speaker 1: get back to economics, isn't it. I mean, we've had 12 00:00:34,320 --> 00:00:37,280 Speaker 1: so much Trump, so much politics. I think the biggest 13 00:00:37,280 --> 00:00:40,199 Speaker 1: story this week was the fact that we got business 14 00:00:40,280 --> 00:00:44,360 Speaker 1: and consumer sentiment week. We found out that the increase 15 00:00:44,400 --> 00:00:47,520 Speaker 1: in wages little stronger than we'd like, but still within 16 00:00:47,560 --> 00:00:50,600 Speaker 1: the Reserve banks acceptable range, and we've got a hot 17 00:00:50,680 --> 00:00:54,280 Speaker 1: labor market. The actual economy is pretty good, but not 18 00:00:54,360 --> 00:00:56,800 Speaker 1: good enough to stop an interest rate cut next week. 19 00:00:57,160 --> 00:00:59,000 Speaker 1: So I think that economic data, when you put it 20 00:00:59,080 --> 00:01:01,720 Speaker 1: all together this week, the fact that it's said, Yep, 21 00:01:01,760 --> 00:01:03,520 Speaker 1: we're doing okay, but we're still going to get a 22 00:01:03,520 --> 00:01:06,320 Speaker 1: great cut next week. That's the biggest story of the week. 23 00:01:06,840 --> 00:01:08,920 Speaker 1: That probably is the biggest story of the week. But 24 00:01:09,000 --> 00:01:12,440 Speaker 1: in politics it's been quite a momentous week because of 25 00:01:12,520 --> 00:01:16,280 Speaker 1: leadership changes. Obviously, the Liberals were in need of a 26 00:01:16,319 --> 00:01:19,080 Speaker 1: new leader after Peter Dutton lost. Susan Lee and Ted 27 00:01:19,120 --> 00:01:22,640 Speaker 1: O'Brien are the new leadership team there. They are still lost, 28 00:01:22,720 --> 00:01:25,040 Speaker 1: still kind of figuring out where they stand really in 29 00:01:25,480 --> 00:01:29,959 Speaker 1: the political sphere. The Green Sean they had to choose 30 00:01:29,959 --> 00:01:33,280 Speaker 1: a new leader because Adam Bant lost his seat, leaving 31 00:01:33,280 --> 00:01:35,839 Speaker 1: them with only one seat in the Lower House plenty 32 00:01:36,000 --> 00:01:39,119 Speaker 1: in the Senate though Larissa Waters and Marine Feruki will 33 00:01:39,120 --> 00:01:41,480 Speaker 1: be the new leaders there. It means that two of 34 00:01:41,520 --> 00:01:45,360 Speaker 1: the four major parties or main parties really in Australia 35 00:01:45,480 --> 00:01:49,760 Speaker 1: are now with female leaders, which is an exciting milestone 36 00:01:50,080 --> 00:01:52,360 Speaker 1: and also very quick mention of Albow making his first 37 00:01:52,360 --> 00:01:55,240 Speaker 1: trip overseas since the election to Indonesia met with the 38 00:01:55,640 --> 00:01:58,520 Speaker 1: President described it as the most important relationship Australia has 39 00:01:58,600 --> 00:02:00,480 Speaker 1: right now. Very significt get. 40 00:02:00,280 --> 00:02:04,200 Speaker 2: Shure, very significant. I agree. Plenty still going on in politics, 41 00:02:04,400 --> 00:02:07,000 Speaker 2: I reckon we're going to agree on the most remarkable 42 00:02:07,000 --> 00:02:08,079 Speaker 2: story this week. 43 00:02:08,000 --> 00:02:10,480 Speaker 1: Yes, I think you're right. It is Donald Trump on 44 00:02:10,520 --> 00:02:14,280 Speaker 1: his Middle East tour, Saudi Arabia, Qatar, United Arab Emirates. 45 00:02:14,320 --> 00:02:17,600 Speaker 1: Massive deals being made along the way, six hundred billion 46 00:02:17,600 --> 00:02:19,760 Speaker 1: dollars or a trillion dollars depending on kind of which 47 00:02:19,760 --> 00:02:23,680 Speaker 1: figure you believe. In Saudi Arabia one point two trillion 48 00:02:23,720 --> 00:02:26,840 Speaker 1: dollars in potential economic development and kind of a quarter 49 00:02:26,880 --> 00:02:29,440 Speaker 1: of a trillion dollars in deals done in Qatar. These 50 00:02:29,440 --> 00:02:32,000 Speaker 1: are just massive, massive figures. A lot on defense, a 51 00:02:32,040 --> 00:02:35,400 Speaker 1: lot on kind of planes being purchased from Boeing, all 52 00:02:35,440 --> 00:02:37,160 Speaker 1: that kind of thing. But there's also a lot of 53 00:02:37,200 --> 00:02:41,120 Speaker 1: diplomatic stuff going on behind the scenes as well, political negotiations, 54 00:02:41,200 --> 00:02:44,680 Speaker 1: dropping sanctions against Syria, the request of the Saudis, asking 55 00:02:44,720 --> 00:02:48,800 Speaker 1: Katar to help improve relations with Iran, potential breakthroughs on 56 00:02:48,840 --> 00:02:52,919 Speaker 1: Iran's nuclear weapons and sanctions there, backing down on renaming 57 00:02:52,960 --> 00:02:55,760 Speaker 1: the Persian Gulf to the Arabian Gulf, Meeting the new 58 00:02:55,840 --> 00:02:59,040 Speaker 1: Syrian leader, which is actually quite a significant step because 59 00:02:59,040 --> 00:03:03,240 Speaker 1: the US leader has Mediicrian leader for decades now, and 60 00:03:03,320 --> 00:03:04,840 Speaker 1: so these are all going on as well. It's just 61 00:03:04,840 --> 00:03:07,120 Speaker 1: a big, big week for Donald Trump. 62 00:03:07,200 --> 00:03:08,840 Speaker 2: Yeah, pretty remarkable. 63 00:03:09,000 --> 00:03:12,480 Speaker 1: Mystery category this week, Sean is our good news sorry, 64 00:03:12,520 --> 00:03:14,239 Speaker 1: because everyone needs a bit of good news. What have 65 00:03:14,320 --> 00:03:15,120 Speaker 1: you found for us? 66 00:03:15,240 --> 00:03:20,000 Speaker 2: Well, BHP's pushing the Argentinian copper has been boosted. Basically, 67 00:03:20,040 --> 00:03:22,880 Speaker 2: they've hit the jackpot. They's paid three point two billion 68 00:03:22,960 --> 00:03:26,560 Speaker 2: dollars for fifty percent of something called Philo del Sol 69 00:03:26,760 --> 00:03:32,639 Speaker 2: in Argentina on the basis that the deposit contained one 70 00:03:32,680 --> 00:03:36,520 Speaker 2: point five billion kilograms of copper. Now it's joint venture 71 00:03:36,560 --> 00:03:41,160 Speaker 2: partner updated that they went from one point five billion 72 00:03:41,280 --> 00:03:46,760 Speaker 2: kilograms to eight billion kilograms, five times more than what 73 00:03:46,840 --> 00:03:50,400 Speaker 2: BHP paid for. That is a great news story for 74 00:03:50,480 --> 00:03:52,680 Speaker 2: BHP and for its shareholders. 75 00:03:53,000 --> 00:03:58,080 Speaker 1: Yeah, massive, massive story. That's a huge, huge posit. Yes, 76 00:03:58,720 --> 00:04:02,360 Speaker 1: cost of living crisis another good news story, not the 77 00:04:02,360 --> 00:04:05,520 Speaker 1: cost of living crisis. But a potential solution is to 78 00:04:05,640 --> 00:04:10,240 Speaker 1: realize that that definitely came out wrong. A grocery price war. 79 00:04:10,440 --> 00:04:13,480 Speaker 1: That's what we want to see. Woolies is cutting prices 80 00:04:13,600 --> 00:04:16,120 Speaker 1: of four hundred products by ten percent. They want to 81 00:04:16,160 --> 00:04:19,160 Speaker 1: recover lost market share. But Cold's and IgA and Ali 82 00:04:19,279 --> 00:04:23,080 Speaker 1: probably won't give up too easily. Prepare for a price war. 83 00:04:23,279 --> 00:04:26,080 Speaker 1: The winners will be consumers one hundred and fifty dollars, 84 00:04:26,120 --> 00:04:27,880 Speaker 1: shop will go down to about one hundred and thirty 85 00:04:27,920 --> 00:04:32,680 Speaker 1: five dollars. That is pretty significant in a cost of 86 00:04:32,680 --> 00:04:37,200 Speaker 1: living crisis, don't you Reckon totally agree? Okay, favorite story, 87 00:04:37,200 --> 00:04:39,040 Speaker 1: I will nominate one for this, and I get way 88 00:04:39,080 --> 00:04:40,760 Speaker 1: too excited about this. I'm going to just try and 89 00:04:40,800 --> 00:04:43,560 Speaker 1: keep myself calm. It is a space story shown. It 90 00:04:43,640 --> 00:04:47,000 Speaker 1: is a Cold War era probe that was sent to 91 00:04:47,120 --> 00:04:49,800 Speaker 1: Venus in nineteen seventy two by the Soviet Union. It 92 00:04:49,960 --> 00:04:51,960 Speaker 1: never made it out of Earth's all butit but it 93 00:04:52,000 --> 00:04:56,240 Speaker 1: has spent about fifty something years up there, fifty three 94 00:04:56,320 --> 00:04:59,760 Speaker 1: actually I probably could have calculated that fifty three years 95 00:05:00,200 --> 00:05:04,680 Speaker 1: bumping around the top of Earth's atmosphere and finally, finally 96 00:05:04,720 --> 00:05:07,400 Speaker 1: it has broken through three feet across half a ton. 97 00:05:07,960 --> 00:05:09,560 Speaker 1: It's got a heat shield. It was going to be 98 00:05:09,600 --> 00:05:13,080 Speaker 1: strong enough to get to Venus. It came through Earth's 99 00:05:13,080 --> 00:05:17,720 Speaker 1: atmosphere after half a century up there, splashdown somewhere near Indonesia. 100 00:05:17,800 --> 00:05:18,720 Speaker 1: The end of an era. 101 00:05:18,880 --> 00:05:23,520 Speaker 2: Sean incredible. My favorite story. Apple planning to use artificial 102 00:05:23,560 --> 00:05:28,000 Speaker 2: intelligence technology to improve the battery life of its iPhones. 103 00:05:28,320 --> 00:05:30,360 Speaker 2: To create the technology, which is part of the Apple 104 00:05:30,400 --> 00:05:34,279 Speaker 2: Intelligence platform. The company's using battery data. It's collected from 105 00:05:34,360 --> 00:05:37,960 Speaker 2: users devices to understand trends and make predictions for when 106 00:05:37,960 --> 00:05:41,400 Speaker 2: it should lower the power draw of certain apps, certain features. 107 00:05:41,800 --> 00:05:44,680 Speaker 2: It just makes a battery so much more efficient. My 108 00:05:44,800 --> 00:05:46,719 Speaker 2: favorite story, yeah as a cracker. 109 00:05:46,960 --> 00:05:49,000 Speaker 1: All right, there we go five minutes and pretty much 110 00:05:49,000 --> 00:05:50,640 Speaker 1: everything you need to know in the world of business. 111 00:05:50,680 --> 00:05:52,800 Speaker 2: Thank you very much, Sean, Thank you, Michael. 112 00:05:53,200 --> 00:05:55,200 Speaker 1: We'll be back on Monday morning with the top five 113 00:05:55,240 --> 00:05:57,559 Speaker 1: business stories in five minutes. Don't forget to hit follow 114 00:05:57,640 --> 00:06:00,560 Speaker 1: and join us online on Instagram, TikTok, LinkedIn, Facebook and 115 00:06:00,800 --> 00:06:03,000 Speaker 1: x are Michael Thompson And This is the Fast by 116 00:06:03,080 --> 00:06:04,520 Speaker 1: Business News, by Fear and Greed.