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Speaker 1: It's Tuesday, the third of September twenty twenty four. 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 intus five minutes. I'm Michael Thompson and

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Speaker 1: good morning Adam Lang.

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Speaker 2: Good morning, Michael.

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Speaker 1: Adam five stories, five minutes. Let's go storry. Number one.

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Speaker 1: Prime Minister Anthony Albanezi is on a bit of a

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Speaker 1: cash splash in Western Australia in a bid to improve

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Speaker 1: his election standing in the state. He's in wa with

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Speaker 1: several front bench MPs as campaigning gets underway really ahead

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Speaker 1: of an election that hasn't even been announced yet.

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Speaker 2: Yeah, Michael. The duel in the crown for this week

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Speaker 2: is a multimillion dollar job and skills package that forms

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Speaker 2: part of the National Security Nuclear Submarine ORCUS agreement. This

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Speaker 2: will be formally announced today but has been widely foreshadowed

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Speaker 2: in the press. There's going to be another eight million

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Speaker 2: announced for a Murdoch University Plastics innovation hub, two hundred

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Speaker 2: and fifty million for an electric bus terminal, and eight

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Speaker 2: million for the Mobile black Spot program. A series of

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Speaker 2: social housing projects will also be announced, and that's according

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Speaker 2: to the Financial Review.

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Speaker 1: ADAM, a number of these projects seem like they have

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Speaker 1: really quite targeted spends. Why is WA so crucial right now?

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Speaker 2: Labour's prospects in WA for the next election are actually

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Speaker 2: considered make or break for the government. Time is ticking down,

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Speaker 2: with an election required before May twenty twenty five. In

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Speaker 2: the last federal election, Labour picked up four extra seats

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Speaker 2: in WA and they helped to secure its majority government position.

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Speaker 2: Current polling shows that Labour increasingly faces the prospect of

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Speaker 2: a minority government.

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Speaker 1: Okay, moving on to story number two now. An Area

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Speaker 1: group halted trading yesterday after confirming speculation in the media

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Speaker 1: over the weekend that it was considering a bid for

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Speaker 1: UK listed online property portal right Move Now. This deal

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Speaker 1: could be worth about nine billion dollars Yeah.

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Speaker 2: Michael Aria Group said any offer would take the form

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Speaker 2: of cash and shares, but it has not yet approached

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Speaker 2: or had discussions with Right More about the offer and

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Speaker 2: there's no guarantee one will be made. The UK's takeover

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Speaker 2: rules mean the disclosure of a potential offer is required.

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Speaker 2: Aria said in a statement to the AX that there

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Speaker 2: are clear similarities between the two businesses as both are

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Speaker 2: leading portals in their local areas for residential listings and

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Speaker 2: have aligned cultural values. Once trading resumed, shares fell five

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Speaker 2: point three percent.

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Speaker 1: Story number three home building looks like it's starting to

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Speaker 1: bounce back, with fourteen thy seven hundred and ninety seven

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Speaker 1: new dwellings approved in July. That was up ten point

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Speaker 1: four percent and followed a slump the month before. According

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Speaker 1: to the Bureau of Statistics.

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Speaker 2: Yeah Michael, this was the first month of the National

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Speaker 2: Housing Accord and there was a particularly significant lift in

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Speaker 2: private dwellings excluding houses up thirty two percent, with house

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Speaker 2: approvals only up point six percent. Apartment figures can be

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Speaker 2: lumpy when big projects get approval, so that's worth taking

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Speaker 2: into account, and even with the full lift over July,

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Speaker 2: the approvals rate remains five point one percent, and that's

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Speaker 2: still below the five year average, but it is a

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Speaker 2: positive sign for more supply, with New South Wales recording

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Speaker 2: an eight point five percent lift in private sector house

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Speaker 2: approvals and WA at its highest level since July twenty

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Speaker 2: twenty one.

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Speaker 1: Story number four, Australian vegan food chain Flave, launched by

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Speaker 1: a former Zambrero CEO, has fallen over Adam the founders

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Speaker 1: are basically saying they're ahead of their time and there

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Speaker 1: isn't yet demand in the market for a quote, mass market, scalable,

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Speaker 1: fully vegan eatery.

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Speaker 2: That's right, Michael. A letter to shareholders that was reported

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Speaker 2: in the Financial Review shows co founders told their investors

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Speaker 2: last week that they'd not been paying themselves since January

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Speaker 2: twenty twenty three and are under a ten thousand dollars

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Speaker 2: monthly bill to stay in business, and they've been exploring

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Speaker 2: options including shutting down local operations and discussing with potential

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Speaker 2: international partners. But ultimately the assessment was that the brand

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Speaker 2: is slightly ahead of current consumer habit. Just two years ago,

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Speaker 2: the brand was announcing plans to open three hundred stores

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Speaker 2: amid the big wave of plant based type. It raised

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Speaker 2: nine hundred thousand dollars in Crown Funding money in late

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Speaker 2: twenty twenty two and in total raised seven point five million,

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Speaker 2: but last year it generated one point two million in

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Speaker 2: revenue and reported a two point four million dollar net loss.

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Speaker 1: Last one Adams story number five. The US presidential election

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Speaker 1: is going to be the biggest digital advertising blitz on record,

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Speaker 1: with Kamala Harris planning a three hundred and seventy million

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Speaker 1: US dollar cross media campaign over three months, and what

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Speaker 1: she's calling the biggest online ad buy in the history

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Speaker 1: of American politics.

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Speaker 2: Michael, these numbers are staggering. Harris's ad campaign will kick

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Speaker 2: off on September three and run until November five, and

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Speaker 2: will put a big chunk of a US five hundred

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Speaker 2: and forty million dollar worth of political donations to work.

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Speaker 2: About US two hundred million will go towards digital ads,

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Speaker 2: US one hundred and seventy million for TI television spots.

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Speaker 2: The digital placements include Hulu, Roku, YouTube, Paramount, Spotify, and Pandora.

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Speaker 2: There has been plenty written about her campaign's plan to

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Speaker 2: harness jen Z, with memes and viral content increasingly part

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Speaker 2: of the political conversation, so there's little doubt that social

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Speaker 2: media will be a big part of the push too.

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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's Tuesday, the third of September twenty twenty four. Remember

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Speaker 1: hit follow on the podcast and five minutes isn't enough.

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Speaker 1: You can find our longer daily show called Fear and

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Speaker 1: Greed wherever you listen to podcasts. I'm Michael Thompson and

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Speaker 1: that was the Fast five business news by fear and greed.

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Speaker 1: Have a great day.