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Speaker 1: Welcome to the weekend edition of the Fast Five Business

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Speaker 1: News by Fear and Greed. I'm Michael Thompson and Hello

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Speaker 1: Sean Aylmer.

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Speaker 2: Hello Michael Sean.

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Speaker 1: On weekdays, it's all about the Fast five, the top

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Speaker 1: five business stories in five minutes. On the weekend, we

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Speaker 1: still keep it to five minutes, but we are going

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Speaker 1: to pick out the biggest business story of the week,

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Speaker 1: the most remarkable story. Got a bit of a mystery

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Speaker 1: category today, Stranger than Fiction. We're going to pick out

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Speaker 1: Sean and then our favorite business story. Let's jump straight

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Speaker 1: into it with the biggest business news story of the week.

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Speaker 1: And I think if I can go first, please, It's

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Speaker 1: all about politics this week. We had two big things

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Speaker 1: happen this week. We had the federal budget first and

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Speaker 1: then an election being called. The budget was interesting because

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Speaker 1: it kind of revealed the battleground for the election. It's

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Speaker 1: going to be all about cost of living. We had

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Speaker 1: the Treasurer on Tuesday night talking about tax cuts worth

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Speaker 1: seventeen billion dollars. It's ten dollars a week. It really

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Speaker 1: works out to be the opposition opposed it, which means

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Speaker 1: the government can now claim that the coalition is the

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Speaker 1: party that is against tax cuts. Peter Dutton returned fire

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Speaker 1: then though on Thursday night, offering a few excise cut

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Speaker 1: saving fourteen dollars a week. This is setting us up

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Speaker 1: now for the cost of living election. The Prime Minister

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Speaker 1: Anthony Alberanezi visited Yarralumla on Friday morning. Parliament dissolved election

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Speaker 1: called bring it on May THREEI sean off we go.

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Speaker 2: The other big story of the week was the economy,

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Speaker 2: Starting with the budget. The Federal Treasury we gave its

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Speaker 2: forecast basically thinks economic growth will be a bit better

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Speaker 2: then we thought and inflation will fall back into the

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Speaker 2: reserve banks preferred target ban. We got some confirmation of

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Speaker 2: that with Bureau Statistics figures which showed that underlying inflation

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Speaker 2: for the month of February was actually in that target ban.

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Speaker 2: What's that mean? Why do we care about the target

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Speaker 2: ban because if it stays there, we'll get interes straight cuts.

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Speaker 1: Yeah, very very big, massive week. Overall, most remarkable story.

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Speaker 1: Would you like to go first on this one?

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Speaker 2: I think it's incredible. Shrinking ASEX So we had building

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Speaker 2: Materials group James Hardy make a fourteen billion dollar a

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Speaker 2: bid for a US outdoor decking and railing company called Asek.

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Speaker 2: If that goes ahead, James Hardy will move its primary

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Speaker 2: listing to the US Costar. Also, US based company made

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Speaker 2: a bid for online property group domain. If that goes ahead,

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Speaker 2: well we won't have domain around anymore. We also had

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Speaker 2: a South African company called Goldfields trying to buy ASX

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Speaker 2: listed gold Road Resources. There's a deal at the moment

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Speaker 2: between Northern Star and Gray Mining. Well there's not a deal,

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Speaker 2: but they're Northern Stars trying to buy de Gray Mining.

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Speaker 2: We also have Spartan Resources and Mainless Resources agreeing to

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Speaker 2: a four billion dollar merger. Quite remarkable. How many companies

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Speaker 2: are leaving the AX throwing Star Entertainment. Who knows what

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Speaker 2: happens there. There are other companies like the Perpetual constantly

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Speaker 2: under pressure. I suppose the exception is Virgin Australia that

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Speaker 2: will list and hopefully will list on the AX. But

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Speaker 2: why I find remarkable at the moment is just the

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Speaker 2: shrinking AX.

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Speaker 1: Yeah, that is a great story. I'll mention one in

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Speaker 1: ten seconds or le sean remarkable that US Vice President

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Speaker 1: and Jad Evans is going to Greenland, which isn't remarkable

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Speaker 1: in itself. But the fact is he wasn't supposed to

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Speaker 1: be going. It's supposed to be his wife and the

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Speaker 1: National Security Advisor Michael Waltz suddenly though JD himself it's

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Speaker 1: heading along to check out what's going on with the

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Speaker 1: security there, which it's the latest kind of injection of

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Speaker 1: the vice president into kind of politics within Europe. And

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Speaker 1: President Donald Trump wants Greenland for the US. Denmark doesn't

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Speaker 1: want to allow that to happen. This is setting up

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Speaker 1: for a really big issue further down the track.

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Speaker 2: Juries tell me we've got our special category this week.

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Speaker 2: It sounds like fiction. Only one story in this one.

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Speaker 1: Oh, I know, how good is this one? It sounds

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Speaker 1: like a political satire.

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Speaker 2: This one.

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Speaker 1: He had a group of very high ranking individuals in

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Speaker 1: a secure signal chat talking about the plans to attack

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Speaker 1: Huthy militants in Yemen. In that group, Vice President j D. E.

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Speaker 1: Vance just mentioned him. Defense Secretary Pete Hegsith, National Security

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Speaker 1: Advisor Michael Waltz just mentioned him as well Secretary of

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Speaker 1: State Marco Rubio, the White House Chief of Stuff. I meant,

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Speaker 1: there's just to give you an indication of just how many

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Speaker 1: people were in this group chat and how highly ranked

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Speaker 1: they were. Added to the chat, he didn't sneak in there.

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Speaker 1: Added to the chat was the editor of the Atlantic

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Speaker 1: magazine who just watched as this group discussed the plans

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Speaker 1: to attack, gave live updates on what was happening, talked

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Speaker 1: about the weapons that were being used and the success

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Speaker 1: of the attacks, and then he reported what happened. The

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Speaker 1: response to the White House was incredible. They denied it

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Speaker 1: at first, then tried to discredit the Atlantic and the

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Speaker 1: journalists who did it. Then they acknowledged it and said

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Speaker 1: it's no big deal. But it is a big deal

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Speaker 1: because it is a big security breach. But oh, what

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Speaker 1: a story, What a story. What's your favorite story this week?

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Speaker 2: Sean? I love the fact that Apple's updated its Maps

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Speaker 2: app to display traditional Aboriginal names for places across the country.

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Speaker 2: Honors has done it, Australia Post has done it. The

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Speaker 2: Maps update. It's been four year project work with Indigenous advisors, cartographers,

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Speaker 2: traditional earners, language holders and community members to complete the

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Speaker 2: automatic upgrade. We'd all have it on our phones by now.

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Speaker 2: Indigenous groups can also subdmit mixtures of their local communities

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Speaker 2: to rich it. Now it brings the Australias the line with

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Speaker 2: the US and Canada. Apple also did it in New Zealand.

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Speaker 2: Fantastic world done Apple.

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Speaker 1: Yeah, it's a good news story. That one just very quickly.

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Speaker 1: My favorite was about the reject Shop. We all know

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Speaker 1: the reject Shop, the red and yellow kind of shops around.

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Speaker 1: This week a Canadian company came in said at wants

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Speaker 1: to buy the Reject Shop. It's ASX listed company the

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Speaker 1: Reject Shop, and the Reject Shop share price jumped one

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Speaker 1: hundred and eleven percent in one day. What a time

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Speaker 1: to be a Reject Shop investor. There we go, showing

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Speaker 1: five minutes and pretty much everything you need.

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Speaker 2: To know in the world of business. Thank you very much,

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Speaker 2: Thank you, Michael.

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Speaker 1: We'll be back on Monday morning with the top five

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Speaker 1: business stories in five minutes. Don't forget to follow and

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Speaker 1: join us online on Instagram, TikTok, LinkedIn, Facebook and x Oh.

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Speaker 1: Michael Thompson and this is the fast five business news

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Speaker 1: by Fear and Greed