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Speaker 1: It's Friday, the ninth of May 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 when us five minutes are 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 go a story number one.

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Speaker 1: At the end of a really momentous week in Australian politics,

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Speaker 1: the leader of the Greens, Adam Band, has considered he's

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Speaker 1: lost his seat, a high profile National Party MP defects

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Speaker 1: to the Liberal Party, and Prime Minister Anthony Alberezi continues

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Speaker 1: to glow in the biggest electoral win in decades.

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Speaker 2: YEP. Truly an incredible week, mark, Michael, is particularly for

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Speaker 2: the Labor Party. It now appears at the ALP will

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Speaker 2: have well over ninety seats in the one hundred and

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Speaker 2: fifty seat House of Reps, Coalitions likely to have about

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Speaker 2: half that number. The Greens have gone from four seats

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Speaker 2: last parliament to one, with Adam Band yesterday conceding he's

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Speaker 2: lost the seat of Melbourne. In his final press conference,

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Speaker 2: he called on everyone to take the climate crisis seriously,

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Speaker 2: that obviously now needs a new leader. There's likely to

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Speaker 2: be eight tier Independence Althomenie Ryan is still fighting in

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Speaker 2: the seat of Kewyong. There's also a pretty good fight

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Speaker 2: in the seat of Bradfield in Northern Sydney. There are

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Speaker 2: two other minor parties. The final results for some seats

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Speaker 2: may be weeks away, according to the Australian Electoral Commission.

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Speaker 1: What about within the parties sean who's going to be

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Speaker 1: in cabinet and who's going to lead the Liberals?

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Speaker 2: Well as we stand, Prime Minister Anthony Alberizi is set

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Speaker 2: to announce his new cabinet on Tuesday next week. Relatively

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Speaker 2: few changes. Most of the top jobs think Treasurer Jim Talmas,

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Speaker 2: Foreign Minster Penny Wong, Finance Minister Katie Gallagher are unlikely

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Speaker 2: to change. A couple of interesting ones, though what happens

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Speaker 2: to Tanya Plebasik? Will she remain Environmental Minister? What about

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Speaker 2: Attorney General Mark Dreyfus He may become a casualty of

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Speaker 2: a faction war within the ALP. Susan Lee has emerged

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Speaker 2: the front runner for the Liberal leadership job, with media

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Speaker 2: reporting she's already offered roles to other MPs. Her opponent

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Speaker 2: is Angus Taylor, shadow treasurer. Now Media reported yesterday that

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Speaker 2: just Enter Price had defected from the Nationals to the

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Speaker 2: Liberals in the hope of securing a senior position to

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Speaker 2: mister Taylor if he becomes leader.

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Speaker 1: Quite extraordinary, Yeah, it certainly is all right. Moving on

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Speaker 1: to story number two. Now, AY and Z yesterday posted

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Speaker 1: a flat half year profit, with earnings coming in at

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Speaker 1: just under three point six billion dollars and what is

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Speaker 1: longtime CEO Shane Elliott's final results day. Mister Elliot has

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Speaker 1: been running the bank for nine and a half years

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Speaker 1: and is the longest tenured big bank CEO.

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Speaker 2: He will be replaced on Monday next week by Nuna Martos.

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Speaker 2: Revenues for A and Z's half year with the highest ever,

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Speaker 2: reflecting the purchase of sun Corbs banking operations. It's that

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Speaker 2: interest margin. Basically, it's profit margin was flat, which is

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Speaker 2: a bit disapponent. Dividend was unchanged. Now the profit in

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Speaker 2: dividend was pretty much in line with expectations, so the

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Speaker 2: share price did drop one and a half percent yesterday.

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Speaker 1: Story number three, Qantas Alway's chief executive Vanessa Hudson says

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Speaker 1: China's ban on Boeing aircraft has yet to impact the

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Speaker 1: airline supply chain, as Quantist is working hard to get

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Speaker 1: its new airbus airlines delivered on schedule.

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Speaker 2: Very important because Quitas has a lot of planes on order.

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Speaker 2: Speaking at the mcquarie Australia Conference, Hudson said China's response

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Speaker 2: to US President Donald Trump's tariffs has yet to have

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Speaker 2: an impact. She said in quot I feel really good

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Speaker 2: about that airbus order, not just because the aircraft we

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Speaker 2: are getting are some of the best on the market,

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Speaker 2: because I think there are going to be challenges in

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Speaker 2: the way Boeing managers in the new environment now. In

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Speaker 2: response to a question about fuel prices, she said that

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Speaker 2: the group was seeing benefits flow in this half after

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Speaker 2: prices when normalizing back. She also noted, though that the

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Speaker 2: good news on oil prices, which could hopefully reflect in

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Speaker 2: lower airfares, has to be tempered by the lower Australian dollar.

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Speaker 1: Story number four. Woodside Energy held a feisty annual general

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Speaker 1: meeting yesterday Sean, with several superannuation funds voting against the

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Speaker 1: reappointment of directors in protest over the group's climate policies.

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Speaker 2: Let's face it, Woodside isn't the pinup company of the

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Speaker 2: environment mental movement unless they're throwing darts perhaps. Australia's biggest

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Speaker 2: oil and gas produced the last month of berthday twenty

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Speaker 2: seven billion dollar gas development in Louisiana, and the US

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Speaker 2: CEO Meg O'Neil has said it's too expensive to make

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Speaker 2: deep cuts into Woodside's carbon emissions. At yesterday's AGM, shareholders

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Speaker 2: couldn't vote directly on the company's environmental plans. They could

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Speaker 2: last year, but there was such a vote against it

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Speaker 2: that Woodside didn't put up again this year. Instead, some

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Speaker 2: big investors superannuation funds, said they'd vote against the re

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Speaker 2: election of some directors in protests, and they did that.

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Speaker 2: In fact, there was a twenty percent vote against some

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Speaker 2: of the directors.

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Speaker 1: Last one story number five. President Donald Trump is expected

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Speaker 1: to announce this morning Australian Time that the United States

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Speaker 1: has struck a trade agreement with Britain.

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Speaker 2: Probably announcing it as we're recording this. Trump teased yesterday

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Speaker 2: a new trade agreement in a social media post, though

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Speaker 2: he didn't specify which nation was part of the deal.

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Speaker 2: According to The New York Times, everyone saying it is Britain.

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Speaker 2: The post said, and I quote big news conference tomorrow morning,

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Speaker 2: the over off concerning a major trade deal with representatives

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Speaker 2: of a big and highly respected country, the first of many.

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Speaker 2: Plenty of caps in there and exclamation marks, of course.

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Speaker 2: The agreement will be the first deal announced since Trump

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Speaker 2: in post stiff tariffs on dozens of US trading partners.

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Speaker 2: He later paused those temporarily to allow other nations to

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Speaker 2: reach agreements with the US. And meanwhile, US Church Rey

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Speaker 2: Secretary Scott Bessant is expected to convince tariff negotiations with

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Speaker 2: China today.

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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. It

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Speaker 1: is Friday, the ninth of May twenty twenty five. Remember

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Speaker 1: to hit follow on the podcast, and if five minutes

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Speaker 1: isn't enough, 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 that was the fast five business news by

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