1 00:00:03,840 --> 00:00:06,600 Speaker 1: It's Friday, the twenty first of November twenty twenty five. 2 00:00:06,720 --> 00:00:09,360 Speaker 1: Welcome to the Fast five Business News by Fear and Greed, 3 00:00:09,400 --> 00:00:11,240 Speaker 1: where we give you the top five business stories you 4 00:00:11,280 --> 00:00:13,560 Speaker 1: need to know in just five minutes. I'm Michael Thompson 5 00:00:13,600 --> 00:00:14,920 Speaker 1: and good morning Sean Aylmer. 6 00:00:15,120 --> 00:00:16,600 Speaker 2: Good morning, Michael, Sean. 7 00:00:16,760 --> 00:00:19,600 Speaker 1: Five stories, five minutes. Let's go a story. Number one. 8 00:00:19,640 --> 00:00:23,520 Speaker 1: Corporate governance at ASX listed Companies is once again grabbing 9 00:00:23,560 --> 00:00:27,280 Speaker 1: the headlines, with one time market darling drone Shield telling 10 00:00:27,320 --> 00:00:31,080 Speaker 1: the market that it's chief executive chair and another director 11 00:00:31,480 --> 00:00:33,920 Speaker 1: sold nearly two and a half million dollars worth of 12 00:00:33,960 --> 00:00:38,120 Speaker 1: shares after incorrect information had been released to the market. 13 00:00:38,320 --> 00:00:39,800 Speaker 1: And then at the same time we've got the Mineral 14 00:00:39,840 --> 00:00:42,879 Speaker 1: Resources Board backtracking on an agreement to push the CEO 15 00:00:43,040 --> 00:00:43,800 Speaker 1: out of the business. 16 00:00:44,159 --> 00:00:47,480 Speaker 2: Corporate governance keeps giving to play two shows like Fear 17 00:00:47,479 --> 00:00:50,440 Speaker 2: and Greed. Michael, the ASEX query drone Shield about recent 18 00:00:50,600 --> 00:00:53,160 Speaker 2: price movements this year. It's gone from sixty two cents 19 00:00:53,280 --> 00:00:56,160 Speaker 2: six bucks sixty last month now back to under two bucks. 20 00:00:56,200 --> 00:00:59,200 Speaker 2: In a sixteen page explanation yesterday, drone Shield outline the 21 00:00:59,200 --> 00:01:02,920 Speaker 2: selling of seventy million dollars worth of shares by the CEO, 22 00:01:03,240 --> 00:01:06,960 Speaker 2: the chair, and another director. The selling occurred over several 23 00:01:07,080 --> 00:01:10,080 Speaker 2: sessions and triggered a big drop in the stock price. 24 00:01:10,160 --> 00:01:14,200 Speaker 2: Not surprisingly, now CEO Vaarnick Olyig Vornick his name is, 25 00:01:14,240 --> 00:01:16,760 Speaker 2: sold his shares in the company for almost fifty million 26 00:01:16,800 --> 00:01:21,560 Speaker 2: dollars between November six and twelve. On November ten, the 27 00:01:21,640 --> 00:01:25,199 Speaker 2: company mistakenly announced it had secured seven point six million 28 00:01:25,200 --> 00:01:27,600 Speaker 2: dollars in new contracts with the US government that pushed 29 00:01:27,600 --> 00:01:30,600 Speaker 2: its share price up. The company later withdrew the announcement 30 00:01:30,720 --> 00:01:34,920 Speaker 2: and its share price fell. The CEO, the chair, and 31 00:01:35,000 --> 00:01:39,280 Speaker 2: another director. Whilst the company says they're in substantial compliance 32 00:01:39,319 --> 00:01:42,520 Speaker 2: with its trading policy, they all were selling shares in 33 00:01:42,560 --> 00:01:43,520 Speaker 2: that trading window. 34 00:01:44,920 --> 00:01:49,000 Speaker 1: Now I mentioned mineral resources. While we're talking about corporate governance, 35 00:01:49,040 --> 00:01:52,360 Speaker 1: This is happening across the country in Wa. Minrez has 36 00:01:52,560 --> 00:01:56,320 Speaker 1: axed the deadline for founder Chris Ellison to exit as 37 00:01:56,400 --> 00:01:57,280 Speaker 1: managing director. 38 00:01:57,680 --> 00:01:59,600 Speaker 2: He promised to quit a year ago after a series 39 00:01:59,640 --> 00:02:02,520 Speaker 2: of scams, including allegations of tax fraud, VIRA and offshore 40 00:02:02,560 --> 00:02:06,280 Speaker 2: scheme that panelized shareholders. Minrest chair Malcolm Bundy said the 41 00:02:06,280 --> 00:02:09,440 Speaker 2: company wouldn't be rushing to meet an arbitrary deadline, and 42 00:02:09,560 --> 00:02:13,239 Speaker 2: Ellison would eventually retire in a considered and methodical way. So, 43 00:02:13,440 --> 00:02:16,560 Speaker 2: like Richard whitet Weistek Global, Chris Ellison at Mineral Resources 44 00:02:16,560 --> 00:02:19,240 Speaker 2: seems to have come through scandal still as a boss 45 00:02:19,280 --> 00:02:21,040 Speaker 2: of the company, still with the support of the board. 46 00:02:22,120 --> 00:02:24,920 Speaker 1: Okay, moving on to story number two. Markets Sean the 47 00:02:24,919 --> 00:02:27,799 Speaker 1: ASX jumped one point two percent yesterday on the back 48 00:02:27,840 --> 00:02:31,440 Speaker 1: of a strong result on Wall Street from Nvidia, the 49 00:02:31,560 --> 00:02:32,760 Speaker 1: world's biggest company. 50 00:02:33,280 --> 00:02:35,799 Speaker 2: It was the techdocs and the big miners that led 51 00:02:35,840 --> 00:02:38,640 Speaker 2: the way. Among the large caves, fortes qu was up 52 00:02:38,680 --> 00:02:42,080 Speaker 2: four percent, Rio three percent, BHP two percent, The major 53 00:02:42,160 --> 00:02:45,400 Speaker 2: banks were up one percent. After a fairly poor few days, 54 00:02:45,480 --> 00:02:48,959 Speaker 2: Mcquarie Group was higher. Data center operated Goodman Group rows 55 00:02:49,000 --> 00:02:49,519 Speaker 2: two percent. 56 00:02:49,600 --> 00:02:50,120 Speaker 1: Why was that? 57 00:02:50,160 --> 00:02:53,519 Speaker 2: Because the Nvidia's result, the world's biggest company, the maker 58 00:02:53,639 --> 00:02:56,160 Speaker 2: of all those microprocess of chips that are powering the 59 00:02:56,200 --> 00:03:00,360 Speaker 2: AI revolution, Well, it had a good quarter fifty seven 60 00:03:00,360 --> 00:03:03,520 Speaker 2: billion dollars in revenue, fourteen percent rise expected this quarter, 61 00:03:04,080 --> 00:03:08,839 Speaker 2: good earnings, good dividends, big share buyback. Nvd's share price 62 00:03:08,919 --> 00:03:11,600 Speaker 2: jumped on the back of it. Basically one for the 63 00:03:11,639 --> 00:03:14,680 Speaker 2: true believers. In the AI and for those who don't 64 00:03:14,720 --> 00:03:16,320 Speaker 2: think there's a tech bubble emerging. 65 00:03:16,919 --> 00:03:20,680 Speaker 1: Story number three Sean the International Monetary Fund has told 66 00:03:20,720 --> 00:03:24,359 Speaker 1: the government to pursue comprehensive tax reform and to cut 67 00:03:24,400 --> 00:03:28,000 Speaker 1: wasteful spending. If Australian living standards are to improve, I 68 00:03:28,040 --> 00:03:30,000 Speaker 1: can see your eyebrow already twitching. 69 00:03:30,560 --> 00:03:32,680 Speaker 2: The IMF suggested more money should be raised from the 70 00:03:32,680 --> 00:03:35,760 Speaker 2: GST and a mining tax could be introduced. Higher taxes 71 00:03:35,800 --> 00:03:38,240 Speaker 2: from those areas could result in lower income and company 72 00:03:38,240 --> 00:03:40,880 Speaker 2: tax rates. The IMF said a shift away from state 73 00:03:41,200 --> 00:03:44,720 Speaker 2: stamp duty on property purchases to a broader land tax 74 00:03:45,000 --> 00:03:48,480 Speaker 2: would approve housing affordability, and it applauded government measures to 75 00:03:48,760 --> 00:03:51,800 Speaker 2: the supply of homes. The government is managing a soft 76 00:03:52,000 --> 00:03:55,119 Speaker 2: economic landing, according to the Fund, and if it does 77 00:03:55,160 --> 00:03:58,400 Speaker 2: a bunch of reforms around taxation, the budget, technology, competition, 78 00:03:58,480 --> 00:04:02,080 Speaker 2: labor markets in the green transition, well productivity will be boosted. 79 00:04:02,120 --> 00:04:04,520 Speaker 2: I'm sure that's true. Treasure Jim Chalmers of the Government 80 00:04:04,560 --> 00:04:07,760 Speaker 2: didn't agree with all the IMS recommendations, and that's fair enough. 81 00:04:08,400 --> 00:04:11,640 Speaker 1: Story number four. Australia has formally dumped its bid to 82 00:04:11,680 --> 00:04:14,800 Speaker 1: host next year's United Nations COP thirty one Climate Summit 83 00:04:14,800 --> 00:04:17,240 Speaker 1: in Adelaide, effectively green lighting Turkey's bid. 84 00:04:17,680 --> 00:04:19,960 Speaker 2: In return for the Turks hosting the summit, the Albanezy 85 00:04:20,000 --> 00:04:23,599 Speaker 2: government proposed that Climate Change and Energy mister Chris Bowen 86 00:04:23,960 --> 00:04:26,360 Speaker 2: share the presidency of the event with Turkey. Bowen will 87 00:04:26,360 --> 00:04:29,240 Speaker 2: also be lead negotiator for next year's summit. Also, the 88 00:04:29,240 --> 00:04:31,640 Speaker 2: PM wants a pre COP summit in the Pacific to 89 00:04:31,680 --> 00:04:35,120 Speaker 2: act as a pledging event towards the Pacific Resilience Fund. 90 00:04:35,360 --> 00:04:39,320 Speaker 2: Now Bowen blamed Australia's withdrawal on the unwieldly process that 91 00:04:39,400 --> 00:04:43,200 Speaker 2: decides the COP host I quote him, obviously, it would 92 00:04:43,200 --> 00:04:45,159 Speaker 2: be great if Australia could have it all, but we 93 00:04:45,240 --> 00:04:46,039 Speaker 2: can't have it all. 94 00:04:46,920 --> 00:04:51,200 Speaker 1: Last one story number five. Only one Australian vineyard, the 95 00:04:51,720 --> 00:04:55,440 Speaker 1: Henshke Vineyard in the Barrossa wine region in South Australia, 96 00:04:55,480 --> 00:04:57,880 Speaker 1: has been named in the World's fifty Best Shown. 97 00:04:58,480 --> 00:05:01,360 Speaker 2: It came in at number forty. It's the first year 98 00:05:01,400 --> 00:05:03,720 Speaker 2: since the awards began in twenty nineteen that Australia has 99 00:05:03,760 --> 00:05:06,400 Speaker 2: only had one vineyard in the top fifty, which is 100 00:05:06,440 --> 00:05:09,240 Speaker 2: disappointing given that the actual awards were held in Western 101 00:05:09,240 --> 00:05:11,840 Speaker 2: Australia this year for the first time. Now so far 102 00:05:12,120 --> 00:05:16,080 Speaker 2: only South Australian wineries have made the cup. Penfold's McGill Estate, 103 00:05:16,440 --> 00:05:19,600 Speaker 2: darren Berg, seperz Field as well as Henski have all 104 00:05:19,640 --> 00:05:22,200 Speaker 2: made it in the list. Since twenty nineteen, the coverted 105 00:05:22,240 --> 00:05:26,920 Speaker 2: top vineyard title was nabbed by a Chilean vineyard. Number 106 00:05:26,920 --> 00:05:29,920 Speaker 2: two was in Germany. Number three was in Spain. Love 107 00:05:30,000 --> 00:05:32,719 Speaker 2: the spiel about the top one in Chile. I quote. 108 00:05:32,720 --> 00:05:37,200 Speaker 2: This integrated tourism experience combines architectural features like a floating 109 00:05:37,279 --> 00:05:41,479 Speaker 2: roof of bronze titanium with immersive wine experience. It's fine dining, 110 00:05:41,520 --> 00:05:45,839 Speaker 2: mountain biking, luxury hotel and Sono Wellness Center. End quote. 111 00:05:46,080 --> 00:05:50,400 Speaker 2: Immersive wine experience, Wellness Center. Hmm, some irony there. 112 00:05:50,680 --> 00:05:52,240 Speaker 1: That is a lot. There We go the top five 113 00:05:52,279 --> 00:05:55,279 Speaker 1: business stories in five minutes. Thank you Sean, Thank you Michael. 114 00:05:55,360 --> 00:05:58,039 Speaker 1: It is Friday, the twenty first of November twenty twenty five. 115 00:05:58,279 --> 00:06:00,400 Speaker 1: Remember to hit follow on the podcast to end in 116 00:06:00,480 --> 00:06:02,880 Speaker 1: five minutes isn't enough. You're gonna find our longer daily 117 00:06:02,920 --> 00:06:05,839 Speaker 1: show called Fear and Greed wherever you listen to podcasts. 118 00:06:05,839 --> 00:06:08,200 Speaker 1: I'm Michael Thompson when that was the past five Business 119 00:06:08,200 --> 00:06:10,200 Speaker 1: News by fear and greed. Have a great day.