1 00:00:03,880 --> 00:00:06,760 Speaker 1: It's Monday, the twenty seventh of October twenty twenty five. 2 00:00:06,880 --> 00:00:09,640 Speaker 1: Welcome to the Fast five Business News by Fear and Greed, 3 00:00:09,640 --> 00:00:11,480 Speaker 1: where we give you the top five business stories you 4 00:00:11,520 --> 00:00:13,960 Speaker 1: need to know in just five minutes. Are Michael Thompson 5 00:00:13,960 --> 00:00:15,160 Speaker 1: and Good Morning, Sean. 6 00:00:14,920 --> 00:00:16,919 Speaker 2: Aylmer, Good morning Michael. 7 00:00:16,760 --> 00:00:19,560 Speaker 1: Shaw on five stories in five minutes. Let's get cracking 8 00:00:19,600 --> 00:00:22,520 Speaker 1: with story number one. Economic conditions for small business have 9 00:00:22,640 --> 00:00:26,120 Speaker 1: improved over the past year. That's hardly golden times, according 10 00:00:26,120 --> 00:00:28,720 Speaker 1: to a new report from the Reserve Bank. It comes though, 11 00:00:28,840 --> 00:00:33,080 Speaker 1: as new figures show insolvency rates remain at historically high levels. 12 00:00:33,240 --> 00:00:36,360 Speaker 2: The Reserve Bank has a regular program of liaising with 13 00:00:36,640 --> 00:00:39,800 Speaker 2: small business and a small business advisory panel. Its most 14 00:00:39,800 --> 00:00:43,320 Speaker 2: recent report shows that measures of business conditions and confidence 15 00:00:43,360 --> 00:00:46,599 Speaker 2: have improved but remain weaker than for larger businesses. Now, 16 00:00:46,640 --> 00:00:50,720 Speaker 2: many small businesses have stayed profitable by implementing cost saving initiatives. 17 00:00:50,880 --> 00:00:54,000 Speaker 2: A key challenge still is obtaining finance on terms that 18 00:00:54,120 --> 00:00:56,800 Speaker 2: suit their needs. Although things are getting a bit better, 19 00:00:57,040 --> 00:01:00,280 Speaker 2: credits become cheaper with variable lending rates for small businesusiness 20 00:01:00,320 --> 00:01:02,480 Speaker 2: is declining by little more than the cash rate this 21 00:01:02,600 --> 00:01:06,040 Speaker 2: year credits also become more readily available to small businesses 22 00:01:06,080 --> 00:01:09,080 Speaker 2: thanks to stronger competition in the business lending market. 23 00:01:09,160 --> 00:01:11,880 Speaker 1: That is good news, Yeah, it's shown. The Reserve Bank 24 00:01:11,920 --> 00:01:14,720 Speaker 1: may think that's the case, but it's a big butt. 25 00:01:14,920 --> 00:01:18,959 Speaker 1: There are still high numbers of insolvencies across the country. 26 00:01:18,920 --> 00:01:21,840 Speaker 2: Yes, and little sign of relief. Insolvency rates are still 27 00:01:21,920 --> 00:01:26,120 Speaker 2: running at near record highs. Eleven hundred entered insolvency last 28 00:01:26,160 --> 00:01:29,080 Speaker 2: month alone. The construction sector leads the way. Their numbers 29 00:01:29,080 --> 00:01:32,640 Speaker 2: are stabilizing. Where they are rising is in transport. According 30 00:01:32,720 --> 00:01:35,040 Speaker 2: to Credit to Watch, truckees are under pressure. I think 31 00:01:35,040 --> 00:01:39,240 Speaker 2: fuel costs, higher rates, stronger competition from low cost competitors. 32 00:01:39,400 --> 00:01:42,440 Speaker 2: The outlook isn't promising. Notwithstanding what the Reserve Bank says. 33 00:01:42,600 --> 00:01:44,680 Speaker 2: B to B business to business payment to faults have 34 00:01:44,760 --> 00:01:47,800 Speaker 2: jumped five percent from August to September. They're a leading 35 00:01:47,800 --> 00:01:51,960 Speaker 2: indicator of future insolvencies. Business failure rates and our fifteen 36 00:01:52,000 --> 00:01:56,440 Speaker 2: percent above the ten year average. Food and beverage, administrative support, 37 00:01:56,520 --> 00:01:58,160 Speaker 2: transport sectors most at risk. 38 00:01:58,440 --> 00:02:01,160 Speaker 1: Okay, moving on to story number two. Now and Environment 39 00:02:01,240 --> 00:02:04,840 Speaker 1: Minister Murray Watt is open to watering down a contentious 40 00:02:04,840 --> 00:02:09,440 Speaker 1: new power to preemptively reject developments in return for coalition 41 00:02:09,600 --> 00:02:12,760 Speaker 1: support for a major overhaul of federal environment laws. 42 00:02:12,880 --> 00:02:15,000 Speaker 2: What's also prepared to reach a deal with for Greens 43 00:02:15,200 --> 00:02:17,920 Speaker 2: who want stronger protections for native forests as part of 44 00:02:17,960 --> 00:02:20,960 Speaker 2: his efforts to find a Senate majority in past the legislation. 45 00:02:21,320 --> 00:02:24,000 Speaker 2: Late last week, What said he would introduce to Parliament 46 00:02:24,040 --> 00:02:27,760 Speaker 2: a major overhaul of Australia's environmental laws aimed at hastening 47 00:02:27,800 --> 00:02:32,280 Speaker 2: approvals for resources and resource and renewable projects, while giving 48 00:02:32,280 --> 00:02:36,440 Speaker 2: a new National Environmental Protection Agency powers to stop environmental 49 00:02:36,480 --> 00:02:40,280 Speaker 2: destruction and punished law breakers. According to the fin Review. Yesterday, 50 00:02:40,280 --> 00:02:42,720 Speaker 2: Opposition leader Susan Lee called for What to split the 51 00:02:42,720 --> 00:02:45,760 Speaker 2: bill into two tranches, saying the coalition could more readily 52 00:02:45,800 --> 00:02:49,960 Speaker 2: pass changes to streamline project approvals while dealing with more 53 00:02:49,960 --> 00:02:53,160 Speaker 2: contentious issues such as a new environmental protection agency. Later 54 00:02:53,520 --> 00:02:54,320 Speaker 2: story number three. 55 00:02:54,400 --> 00:02:58,080 Speaker 1: Australian superannuation account balances have reached a record high of 56 00:02:58,120 --> 00:03:01,040 Speaker 1: almost one hundred and seventy three thousand dollars on average, 57 00:03:01,200 --> 00:03:04,119 Speaker 1: with those aged between sixty five and sixty nine years 58 00:03:04,120 --> 00:03:06,359 Speaker 1: of age holding more than four hundred and twenty thousand. 59 00:03:06,520 --> 00:03:08,720 Speaker 2: Good News this one. There is still a gender gap 60 00:03:08,760 --> 00:03:12,240 Speaker 2: among the eighteen million account holders in Australian males average 61 00:03:12,240 --> 00:03:14,600 Speaker 2: one hundred and ninety two thousand, females one hundred and 62 00:03:14,600 --> 00:03:18,200 Speaker 2: fifty five thousand according to the supersecutors Peak body ASPHA. 63 00:03:18,560 --> 00:03:20,960 Speaker 2: But the system is working. A thirty year old earning 64 00:03:21,000 --> 00:03:24,200 Speaker 2: the median wage today has probably saved about thirty thousand 65 00:03:24,320 --> 00:03:27,040 Speaker 2: super already. Well, that person's on track to retire with 66 00:03:27,080 --> 00:03:30,000 Speaker 2: more than six hundred thousand dollars the six hundred thousand 67 00:03:30,040 --> 00:03:33,839 Speaker 2: dollar markets considered the amount needed for a comfortable retirement. Also, 68 00:03:33,960 --> 00:03:36,680 Speaker 2: fewer Australians that are relying primarily on the age pension, 69 00:03:36,880 --> 00:03:40,480 Speaker 2: with SUPER increasingly becoming the main source of retirement income, 70 00:03:40,640 --> 00:03:42,560 Speaker 2: which of course is good for the broader economy. 71 00:03:42,840 --> 00:03:45,560 Speaker 1: Yeah, okay, Story number four. How about this one? Sean 72 00:03:45,640 --> 00:03:50,040 Speaker 1: Qantas has upgraded its in flight menu, making it more Australian. Apparently, 73 00:03:50,080 --> 00:03:53,600 Speaker 1: we've got pies and toasters and garlic prawns and even 74 00:03:53,600 --> 00:03:55,840 Speaker 1: the humble jam drop, Sean, which I know you're a 75 00:03:55,840 --> 00:03:56,400 Speaker 1: big fan of. 76 00:03:57,880 --> 00:03:59,720 Speaker 2: You know I'm not a fan of a jam drop. 77 00:04:00,080 --> 00:04:02,880 Speaker 2: More than seventy new options, including your egg and chizo 78 00:04:02,880 --> 00:04:07,320 Speaker 2: toasty with tomato chutney, a beef sausage burrito wrap, jam 79 00:04:07,360 --> 00:04:12,600 Speaker 2: drop cookie and macedamia butterscotch cake. Hmm, just early in 80 00:04:12,600 --> 00:04:14,880 Speaker 2: the morning. I don't I think about this too much. 81 00:04:15,160 --> 00:04:17,040 Speaker 2: If you want to go a bit flasher, then buy 82 00:04:17,080 --> 00:04:19,719 Speaker 2: a business class ticket. You might get garlic pawns with 83 00:04:19,800 --> 00:04:23,480 Speaker 2: parmesan cream and fettuccini, lamb and rosmary pie, smoked salmon, 84 00:04:23,640 --> 00:04:27,320 Speaker 2: zucchini pickles and lemon dressing, and a brian onion tart 85 00:04:27,360 --> 00:04:30,440 Speaker 2: with beetroot realish and rocket. The new menu is based 86 00:04:30,480 --> 00:04:33,080 Speaker 2: on a six week rotation, so passengers are less likely 87 00:04:33,120 --> 00:04:35,400 Speaker 2: to get the same meals. The Landers will also get 88 00:04:35,440 --> 00:04:39,000 Speaker 2: an upgrade fresh made cinnamon scrolls favorite of yours and 89 00:04:39,120 --> 00:04:43,080 Speaker 2: mind Michael egg and Bacon Pisha's classic classic sausage rolls 90 00:04:43,080 --> 00:04:47,240 Speaker 2: from Noondaily that connoisseurs around twenty million meals every year. 91 00:04:47,320 --> 00:04:48,480 Speaker 2: It's a lie that. 92 00:04:48,480 --> 00:04:51,159 Speaker 1: Is big, okay, last one story number five, We're so 93 00:04:51,279 --> 00:04:53,920 Speaker 1: the best for last shaw On. Two suspects have been 94 00:04:54,000 --> 00:04:57,000 Speaker 1: arrested over the theft of precious crown jewels from the 95 00:04:57,040 --> 00:04:59,880 Speaker 1: Louver Museum, according to French media, with one taking the 96 00:05:00,080 --> 00:05:02,719 Speaker 1: to custody as I was preparing to take a flight 97 00:05:02,760 --> 00:05:03,440 Speaker 1: from Paris. 98 00:05:03,760 --> 00:05:06,480 Speaker 2: Items worth one hundred million US dollars were stolen from 99 00:05:06,480 --> 00:05:09,440 Speaker 2: the world's most visited museum a week ago. Last Sunday, 100 00:05:09,560 --> 00:05:13,520 Speaker 2: nine thirty in the morning, four we four thieves wielded 101 00:05:13,839 --> 00:05:16,640 Speaker 2: power tools, broken to the building in broad daylight. The 102 00:05:16,760 --> 00:05:20,520 Speaker 2: guards ran away they took the stuff. The Paris Prosecutors 103 00:05:20,520 --> 00:05:22,280 Speaker 2: Office said in a statement that the arrests had been 104 00:05:22,279 --> 00:05:25,400 Speaker 2: made on Saturday evening, without specifying how many people had 105 00:05:25,400 --> 00:05:28,040 Speaker 2: been taken into custody. Apparently was two. The one that 106 00:05:28,120 --> 00:05:31,200 Speaker 2: was called at the airport was heading towards Algeria. According 107 00:05:31,200 --> 00:05:33,960 Speaker 2: to reports in French media on Sunday, DNA found at 108 00:05:34,000 --> 00:05:36,320 Speaker 2: the scene of the robbery led to the identification of 109 00:05:36,320 --> 00:05:38,440 Speaker 2: one of the suspects. The gang left behind a number 110 00:05:38,440 --> 00:05:40,960 Speaker 2: of items, including gloves and a high viz jacket. 111 00:05:41,240 --> 00:05:43,320 Speaker 1: All right, there we go, the top five business stories 112 00:05:43,320 --> 00:05:45,400 Speaker 1: in five minutes. Thank you Sean, Thank you Michael. It 113 00:05:45,480 --> 00:05:47,960 Speaker 1: is Monday, the twenty seventh of October twenty twenty five. 114 00:05:48,200 --> 00:05:50,839 Speaker 1: Remember to hit follow on the podcast, and five minutes 115 00:05:50,960 --> 00:05:52,960 Speaker 1: isn't enough. You're going to find our longer daily show 116 00:05:53,000 --> 00:05:55,840 Speaker 1: called Fear and Greed wherever you listen to podcasts. I'm 117 00:05:55,839 --> 00:05:58,080 Speaker 1: Michael Thompson and that was the past five. Business news 118 00:05:58,080 --> 00:06:02,440 Speaker 1: by Fear and Greed. Have a great day.