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Speaker 1: It's Friday, the twenty seventh of June twenty twenty five.

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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 and it's five minutes. Are Michael Thompson

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Speaker 1: and Good morning Adam Lange. Good morning Michael, Adam. Five

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Speaker 1: stories in five minutes. Let's get cracking. Story Number one,

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Speaker 1: Australia won't change defense spending targets despite European nations vowing

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Speaker 1: to rapidly increase expenditure. Of course, is under pressure from

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Speaker 1: US President Donald Trump, which means Australia's decision could make

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Speaker 1: any negotiation for lower tariffs much tougher. This is happening

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Speaker 1: on the sidelines to the NATO summit in the Netherlands,

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Speaker 1: where Defense Minutes of Richard Miles said Australia would decide

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Speaker 1: its own spending levels to meet its own military needs.

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Speaker 1: He said defense spending will increase from two percent to

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Speaker 1: two point three percent by twenty thirty three. The risk

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Speaker 1: here is a strong rebuke from Donald Trump, who made

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Speaker 1: very very clear that he expects allies to drastically step

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Speaker 1: up to reduce the reliance on the US.

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Speaker 2: That's right, Michael North. Atlantic Treaty Organization countries of which

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Speaker 2: Australia is not a member, agreed to increase defense spending

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Speaker 2: targets to five percent of GDP. However, Spain refused, prompting

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Speaker 2: Trump to threaten to punish the Iberian nation with a

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Speaker 2: tougher trade deal. According to AAP, Trump said, quote, you

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Speaker 2: know what we're going to do. We're negotiating with Spain

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Speaker 2: on a trained deal, and we're going to make them

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Speaker 2: pay twice as much, end of quote. Australia is also

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Speaker 2: seeking to negotiate a reprieve from tariffs imposed by the

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Speaker 2: US on imports. While a general ten percent tariff is

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Speaker 2: unlikely to change, Canberra is hoping to negotiate down fifty

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Speaker 2: percent levees on steel and aluminium. Miles did not speak

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Speaker 2: directly with Trump nor US Defense Secretary Pete Hegseth, despite

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Speaker 2: intensive efforts by government officials to tee up a first

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Speaker 2: face to face meeting of an Australian minister with the

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Speaker 2: US president.

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Speaker 1: And things may have just gotten a whole lot tougher.

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Speaker 1: Moving on to story number two, now, Adam and Australia's

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Speaker 1: jobs market showed more more signs of strength in the

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Speaker 1: three months to the end of May, with job vacancies

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Speaker 1: rising two point nine percent to three hundred and thirty

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Speaker 1: nine thy four hundred, which is a rebound after a

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Speaker 1: dip scene earlier in the year. Construction led the way

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Speaker 1: with big jump in openings, while professional, scientific and technical

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Speaker 1: services also saw strong gains.

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Speaker 2: Yeah Michael. The private sector drove most of the games,

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Speaker 2: but the uptick was broad based, with eight of eighteen

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Speaker 2: industries reporting growth. Among those to go backwards, though, were

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Speaker 2: wholesale trade and utilities, both posting double digit falls. Overall,

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Speaker 2: demand for skilled workers appears to be propping up the

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Speaker 2: labor market. It reinforces the message that labour demand remains resilient.

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Speaker 2: There's one point eight unemployed people per vacancy and that

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Speaker 2: is still well below pre COVID levels.

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Speaker 1: Story number three. It was quite a twist in the

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Speaker 1: battle for points Bet, which Japanese group Mixy seemed to

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Speaker 1: have won on Wednesday. After a shareholder vote yesterday morning,

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Speaker 1: points Bet said the shareholding votes of its other suitor,

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Speaker 1: Better were incorrectly excluded from the scheme meeting.

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Speaker 2: Yeah Michael. Everyone was surprised that Mixy one ninety five

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Speaker 2: percent of the vote, but perhaps given points Bets shareholding

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Speaker 2: wasn't included, it now seems more reasonable. Computer share who

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Speaker 2: oversees the voting yesterday, said the scheme resolution was not

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Speaker 2: approved by the requisite majorities of Points Bets shareholders. This

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Speaker 2: battle continues, indeed it does. Story number four. STAN will

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Speaker 2: stream the next season of the English Premier League starting

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Speaker 2: in August under a complex agreement that ultimately means Optus

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Speaker 2: subsidizes a large part of the broadcast rights out. Nine Entertainment,

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Speaker 2: which owns the streaming platform, is expected to pay about

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Speaker 2: sixty million dollars annually for the next three years to

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Speaker 2: broadcast the league. This is according to a report in

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Speaker 2: the Financial Review, which is part of the Nine network itself. Yes, Michael,

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Speaker 2: Optis will continue to pay forty million dollars every year

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Speaker 2: over that time despite giving up the rights. The plan

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Speaker 2: is to transition customers in the first few months of

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Speaker 2: the new season. The move, once complete, will mark the

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Speaker 2: end of Opta Sport, a streaming service that rose to

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Speaker 2: prominence in twenty sixteen when it beat rival Foxtel to

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Speaker 2: the Premier League rights. Stan already broadcasts major tennis tournaments,

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Speaker 2: including rollin Garras and Wimbledon, the UEFA Champions League, as

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Speaker 2: well as Super Rugby.

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Speaker 1: Last one story number five, This is just next level, Adam. Nvidia,

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Speaker 1: the world's premiere chip maker, has resets its record high

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Speaker 1: and has now worth three point seven seven trillion US

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Speaker 1: dollars are about five point eight trillion Australian dollars.

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Speaker 2: That's right, Michael, next level and Video it's once again

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Speaker 2: the biggest company on Wall Street, ahead of Microsoft with

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Speaker 2: a market cap of US three point six sixty seven

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Speaker 2: trillion and Apple at US three trillion. In Video's shares

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Speaker 2: of rallied more than sixty percent from an early April

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Speaker 2: low amid renewed optimism for the outlook for artificial intelligence.

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Speaker 2: In Video's surge is symptomatic of the boom on Wall Street.

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Speaker 2: At the moment, the S and P five hundred is

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Speaker 2: trading at about thirty five percent above its long term average,

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Speaker 2: and that is based on earnings multiples.

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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.

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Speaker 2: Thank you, Adam, Thank you Michael.

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Speaker 1: It is Friday, the twenty seventh of June twenty twenty five.

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

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Speaker 1: minutes isn't enough. You can find our longer daily show

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

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Speaker 1: Michael Thompson and that was the Fast five Business news

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