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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 past 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. That's why I'm talking

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Speaker 1: so quickly. But we're going to pick out the biggest

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Speaker 1: story of the week, the most remarkable business story, the

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Speaker 1: sleeper story, one that's flying under the radar a little bit,

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Speaker 1: and our favorite story. So let's jump into it. The

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Speaker 1: biggest business story. Can I nominate one for this?

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Speaker 2: Please look there.

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Speaker 1: It's not so much as standalone story as a major

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Speaker 1: development in an ongoing story involving Australia's biggest company, BHP's

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Speaker 1: pursuit of rival minor Anglo American, just took it up

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Speaker 1: a notch. This week, Anglo received a new bid from

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Speaker 1: the Big Australian, a seventy three point nine billion dollar offer.

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Speaker 1: It's BHP's third bid in as many weeks, a nine

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Speaker 1: percent increase on what it offered last week, based on

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Speaker 1: the same structure as before, involved selling off a whole

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Speaker 1: bunch of assets. The Anglo Board rejected it. But the

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Speaker 1: big difference here is that Anglo has granted BHP a

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Speaker 1: one week extension to come up with an improved bid.

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Speaker 1: It sends a bit of a message that hey, maybe

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Speaker 1: Anglo American is willing to actually discuss this rather than

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Speaker 1: the flat out knows that it has been receiving. It's

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Speaker 1: a big story. BHP's obviously Australia's biggest company, so a

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Speaker 1: lot of Australian's own shares in it. What happens to

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Speaker 1: it often affects the rest of the market in some ways.

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Speaker 1: It's just a big story overall.

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Speaker 2: I reckon Sean, now, I think you're right. It's probably

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Speaker 2: the biggest thorrois you honorable mention though to Wall Street

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Speaker 2: hitting new records again this week also the local market's

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Speaker 2: been very hot this week.

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Speaker 1: Indeed, now most remarkable.

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Speaker 2: What have you got well, the Star Entertainment Group, what

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Speaker 2: a shamuzzle. We've got the Adam Bell inquiry going on

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Speaker 2: all about whether or not the company can keep its license.

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Speaker 2: It obviously trades in New South Wales and Queensland. This

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Speaker 2: week though a real disaster in terms of communication to shareholders.

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Speaker 2: It was a major red face moment, and people lost

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Speaker 2: money on the back of this. Hard Rock International, Florida

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Speaker 2: based hospitality giant, distance itself from media reports that it

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Speaker 2: was in talks to buy Star Entertainment. Now what, It

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Speaker 2: turns out that the interested party wasn't hard Rock International,

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Speaker 2: but a Brisbane property developer with links to the now

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Speaker 2: defunct hard Rock cafeine service Paradise. The announcement to the

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Speaker 2: AX that came from Star said it had received an

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Speaker 2: approach from consortium including hard Rock Hotels and Resorts, different

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Speaker 2: to hard Rock International, which and I quote it understands

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Speaker 2: is a local partner of hard Rock. A little bit

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Speaker 2: of due diligence on the fact would have been worthwhile,

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Speaker 2: particularly to those investors that lost money.

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Speaker 1: Michael, Yes, certainly would be Sean. The most remarkable I

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Speaker 1: thought was about Nvidia, the chip maker. But we already

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Speaker 1: knew it was flying. But this is just ridiculous. The

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Speaker 1: company's revenue climbed two hundred and sixty two percent in

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Speaker 1: the past quarter. Expectations were already high, and Vidia just

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Speaker 1: blew past them. Entirely all about AI, the mad rush

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Speaker 1: for the computing power behind the technology all the big

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Speaker 1: tech companies are racing to deliver these products at scale,

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Speaker 1: and so they all need in Video's products. But the

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Speaker 1: numbers in the March quarter and Video was making about

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Speaker 1: twenty nine million US dollars a day in revenue. It

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Speaker 1: shares are up about ninety percent this year alone. Another

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Speaker 1: big jump this week after these results were announced. But

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Speaker 1: how about this, CEO Jensen Huang reckons the growth is

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Speaker 1: actually going to continue. They're releasing a new chip later

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Speaker 1: this year, Blackwell AI chip. It's worth between thirty to

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Speaker 1: forty thousand US dollars per unit. It sounds like and

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Speaker 1: Video isn't slowing down. They are predicting and I quote

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Speaker 1: a lot of revenue this year. This is remarkable.

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Speaker 2: That sure is remarkable. Michael, Can I tell you about

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Speaker 2: my Sleepers story? Telstra share price. There's about one point

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Speaker 2: three million shareholders in Telstrom. Thanks to the fact it

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Speaker 2: was a government identity sold off, many Australians finally got

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Speaker 2: into the share market, or at least got into the

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Speaker 2: share market for the first time. It is the company

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Speaker 2: that caused people to buy stock. But while we're looking away,

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Speaker 2: what'sing what else was going on in the world. Telstra

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Speaker 2: has really been struggling It's share price at one point

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Speaker 2: this week down seven percent at a three year low.

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Speaker 2: It started in the country's largest telco, said it will

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Speaker 2: share twenty eight hundred jobs. The reason is that outside

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Speaker 2: Mabiles it isn't doing that well. The enterprise division is

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Speaker 2: fighting the shift to the cloud. The consumer business has

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Speaker 2: been hit by the NBN. The business division is suffering

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Speaker 2: from people not using landlights. In fact, the boss, Vicky Brady,

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Speaker 2: doesn't even have one on her desk. There's also increased

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Speaker 2: competition from Optus and TBG. Like Records before. The media industry,

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Speaker 2: plenty of others tell Straight as a legacy business struggling

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Speaker 2: to keep up in a tech driven world. Because its

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Speaker 2: share price felt so much this week, no one was

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Speaker 2: really talking about it. I think it's a pretty good

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Speaker 2: sleeper story.

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Speaker 1: Yeah, I completely agree with you. There. Let's wrap it

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Speaker 1: up with the favorite story of the week for me,

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Speaker 1: Sean the fact that the UK is heading to the

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Speaker 1: polls on July fourth. It's a surprise, a bit of

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Speaker 1: an earlier general election than expected. Prime Minsie Rishi Sunac

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Speaker 1: announced it this week. It's the latest political drama from

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Speaker 1: country not really known for political chaos until about the

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Speaker 1: last decade or so, because things have certainly changed. It's

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Speaker 1: going to be a battle, a big battle for the

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Speaker 1: incumbent because Labor led by Keir Starmer, is considered a

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Speaker 1: shoe in. Some polls put Labour's lead at twenty seven

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Speaker 1: percentage points, which is just enormous. And the campaign is

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Speaker 1: zeroing in on what they've dubbed Tory chaos, which kind

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Speaker 1: of makes sense given that the Conservative government has had

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Speaker 1: five prime ministers since they came to power, four of

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Speaker 1: them in just the last eight years. One of them

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Speaker 1: was there for just forty nine days in total. Richie

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Speaker 1: soon Act has decided to go to the polls a

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Speaker 1: bit earlier than expected. Some of his colleagues aren't too happy.

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Speaker 1: They want the economy to be in a better shape

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Speaker 1: before they do that. But he's done it. He announced

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Speaker 1: it in the rain without an umbrella. There were protesters there.

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Speaker 1: The pictures aren't great. The newspapers had a field day

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Speaker 1: with it. Let the drama begin shown.

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Speaker 2: Yes, absolutely, I think that's probably my favorite story to

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Speaker 2: Just a quick mention though, of the Oxford Economics and

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Speaker 2: Augural Global Cities Index Top one thousand urban regions in

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Speaker 2: the world, Melbourne came in at nine, Sydney came in

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Speaker 2: at sixteen, Perth at twenty three. Not bad, Michael, Yeah.

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Speaker 1: Not too bad at all. There we go, five minutes

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Speaker 1: and pretty much everything you need to know in the

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Speaker 1: world of business.

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Speaker 2: Thank you Sean, 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 hit follow

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Speaker 1: on the podcast and join us online on Instagram, TikTok, LinkedIn,

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Speaker 1: Facebook and x A'm Michael Thompson and this is the

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Speaker 1: Fast five Business News by Fear and Grace