1 00:00:04,160 --> 00:00:06,760 Speaker 1: Welcome to the weekend edition of the Fast Five. Business 2 00:00:06,760 --> 00:00:09,360 Speaker 1: News by Fear and Greed. Are Michael Thompson and Hello 3 00:00:09,480 --> 00:00:12,399 Speaker 1: Sean Aylmer, Hello Michael Shaw. On weekdays, it's all about 4 00:00:12,400 --> 00:00:14,800 Speaker 1: the Fast five, the top five business stories in five minutes. 5 00:00:14,840 --> 00:00:16,640 Speaker 1: On the weekend, we are still going to keep it 6 00:00:16,640 --> 00:00:18,599 Speaker 1: to five minutes, but we're going to pick out the 7 00:00:18,600 --> 00:00:21,520 Speaker 1: biggest business story of the week, the most remarkable story, 8 00:00:21,760 --> 00:00:24,720 Speaker 1: a mystery category as well, it changes every week, and 9 00:00:24,760 --> 00:00:28,640 Speaker 1: then our favorite business related story. Let's jump straight into 10 00:00:28,680 --> 00:00:30,800 Speaker 1: the biggest though. What was it for you this week? Sean? 11 00:00:31,000 --> 00:00:32,920 Speaker 2: I think what we found out about house prices. I 12 00:00:33,000 --> 00:00:35,199 Speaker 2: don't know when to give up. September delivered the strongest 13 00:00:35,240 --> 00:00:38,960 Speaker 2: monthly rise in national dwelling value since October twenty twenty three, 14 00:00:39,240 --> 00:00:42,840 Speaker 2: with the totality home value index jumping zero point eight percent. 15 00:00:42,920 --> 00:00:45,000 Speaker 2: Momentum is picking up so over the last quarter, the 16 00:00:45,040 --> 00:00:48,280 Speaker 2: September quarter, the home value index is up two point 17 00:00:48,280 --> 00:00:50,920 Speaker 2: two percent. In the March court was just one point 18 00:00:51,000 --> 00:00:55,280 Speaker 2: one percent, so it has doubled since then. Widespread growth 19 00:00:55,360 --> 00:00:58,360 Speaker 2: in prices, every capital city and rest of state region 20 00:00:58,440 --> 00:01:01,240 Speaker 2: increasing in dwelling values over the month quarter. In most 21 00:01:01,240 --> 00:01:05,720 Speaker 2: recent twelve months. There is some divergence occurring. Perth and 22 00:01:05,800 --> 00:01:09,119 Speaker 2: Brisbane and Darwin and doing particularly well. Why were there's 23 00:01:09,120 --> 00:01:11,160 Speaker 2: a lack of new stock in the market, Laura interest 24 00:01:11,200 --> 00:01:14,720 Speaker 2: rates Government's First Home Buyers scheme, even the Reserve being 25 00:01:14,760 --> 00:01:17,440 Speaker 2: Governor Michelle Bullocks ad rates of impacting house prices sooner 26 00:01:17,480 --> 00:01:20,319 Speaker 2: than expected. Really is a bit of a boom in 27 00:01:20,440 --> 00:01:21,280 Speaker 2: the housing market. 28 00:01:21,280 --> 00:01:24,240 Speaker 1: What about you, Michael, Yeah, absolutely. The biggest story for 29 00:01:24,319 --> 00:01:27,080 Speaker 1: me was everything that the US President did this week, 30 00:01:27,080 --> 00:01:28,520 Speaker 1: because I know that we talk about it a lot 31 00:01:28,560 --> 00:01:29,960 Speaker 1: and he does a lot of things, but this week 32 00:01:30,000 --> 00:01:33,680 Speaker 1: he did it did even more than normal. Right. He 33 00:01:34,160 --> 00:01:36,760 Speaker 1: started the week unveiling a twenty one point deal to 34 00:01:36,920 --> 00:01:40,120 Speaker 1: end the war in Gaza. The plan will eventually see 35 00:01:40,160 --> 00:01:42,920 Speaker 1: a Board of peace headed up by Trump, also oversea 36 00:01:43,000 --> 00:01:47,160 Speaker 1: by former UKPM Tony Blair. So that's Gaza. That would 37 00:01:47,160 --> 00:01:50,200 Speaker 1: have been big on its own. Then we had economic chaos. 38 00:01:50,240 --> 00:01:53,520 Speaker 1: We had one hundred percent tariffs slapped on drug imports 39 00:01:54,040 --> 00:01:57,680 Speaker 1: and we had Australian companies adversely impacted by that, like CSL. 40 00:01:58,400 --> 00:02:01,600 Speaker 1: Hollywood got hit too forari and films suddenly being targeted 41 00:02:01,640 --> 00:02:04,560 Speaker 1: with tariffs. On top of that, then a US government 42 00:02:04,640 --> 00:02:07,360 Speaker 1: shut down. This is Trump's third Hundreds of thousands of 43 00:02:07,360 --> 00:02:10,200 Speaker 1: workers stood down. Talk of Trump using this for retribution, 44 00:02:10,320 --> 00:02:15,440 Speaker 1: shutting down departments, potentially permanently sacking Democrats, sacking thousands of workers, 45 00:02:15,800 --> 00:02:19,200 Speaker 1: and causing what he called irreversible change. Then, and this 46 00:02:19,280 --> 00:02:22,639 Speaker 1: is this is extraordinary, He and Defense Secretary Pete Hegsath 47 00:02:22,760 --> 00:02:25,480 Speaker 1: stood up in front of every single general pretty much 48 00:02:25,480 --> 00:02:29,200 Speaker 1: in the US military and attacked woke culture, attacked soldiers 49 00:02:29,200 --> 00:02:32,160 Speaker 1: with bids, criticized fat generals and the Pentagon, and basically 50 00:02:32,240 --> 00:02:34,040 Speaker 1: said that the military has not done a good job 51 00:02:34,080 --> 00:02:38,120 Speaker 1: for the last fifty years. Then the next day he 52 00:02:38,120 --> 00:02:40,320 Speaker 1: pretty much put the military to work to clearing war 53 00:02:40,400 --> 00:02:42,679 Speaker 1: on drug cartels. Every week where the president is a 54 00:02:42,720 --> 00:02:44,760 Speaker 1: big week, but this week just felt bigger than most 55 00:02:44,840 --> 00:02:46,480 Speaker 1: Sean sure did. 56 00:02:46,520 --> 00:02:48,720 Speaker 2: Look, my most remarkable story for the week is a 57 00:02:48,840 --> 00:02:51,400 Speaker 2: data we got on who pays the most tax. This 58 00:02:51,520 --> 00:02:54,200 Speaker 2: is corporate tax. These big business number one for the 59 00:02:54,200 --> 00:02:57,359 Speaker 2: twenty twenty four financial year, re Eightena six point four 60 00:02:57,440 --> 00:03:00,320 Speaker 2: billion dollars, BHP six billion dollars, forty Skew middles four 61 00:03:00,360 --> 00:03:03,720 Speaker 2: billion dollars. The big four banks combined ten billion dollars 62 00:03:04,040 --> 00:03:07,520 Speaker 2: all in all, about one hundred billion dollars in corporate 63 00:03:07,560 --> 00:03:10,920 Speaker 2: tax was paid, half of that from mining and energy companies. 64 00:03:11,080 --> 00:03:14,400 Speaker 2: Also a bunch of companies that didn't pay any tax Optors, 65 00:03:14,520 --> 00:03:19,800 Speaker 2: Virgin Australia, csl AMP, TPG, Transurban Dominos. Plenty of reasons 66 00:03:19,800 --> 00:03:21,600 Speaker 2: for that. Maybe they didn't make any money, or they 67 00:03:21,639 --> 00:03:24,120 Speaker 2: had some tax losses they could carry forward. What's really 68 00:03:24,160 --> 00:03:27,240 Speaker 2: remarkable those that global US tech players aren't paying much 69 00:03:27,360 --> 00:03:30,880 Speaker 2: tax at all. Microsoft, Google, Facebook, Apple and Amazon combined 70 00:03:31,280 --> 00:03:34,400 Speaker 2: just six hundred and fifty million dollars, Netflix one point 71 00:03:34,440 --> 00:03:38,160 Speaker 2: two billion of income no tax, Tesla twenty seven million dollars. 72 00:03:38,640 --> 00:03:41,000 Speaker 2: Just doesn't pass a pub test, Michael. 73 00:03:40,760 --> 00:03:44,280 Speaker 1: No, I don't think so. The other remarkable one for 74 00:03:44,320 --> 00:03:47,640 Speaker 1: me this week, Sean, was just the stuff happening in 75 00:03:47,680 --> 00:03:51,080 Speaker 1: Australian media. Big week of big moves. Seven West Media 76 00:03:51,200 --> 00:03:54,480 Speaker 1: merging or planning to merge with Southern Cross Media, creating 77 00:03:54,640 --> 00:03:57,840 Speaker 1: a new TV and radio powerhouse, combining the Seven network 78 00:03:57,880 --> 00:04:02,960 Speaker 1: and newspapers with the radio networks Triple M Hit network. 79 00:04:03,240 --> 00:04:06,560 Speaker 1: A media giant, a relative media giant, still worth only 80 00:04:06,560 --> 00:04:08,840 Speaker 1: four hundred and fifteen million dollars though when seven West 81 00:04:08,840 --> 00:04:13,040 Speaker 1: when it went public more than thirteen fourteen years ago, 82 00:04:13,120 --> 00:04:16,280 Speaker 1: it was worth three billion dollars extraordinary At the same time, then, 83 00:04:16,440 --> 00:04:20,159 Speaker 1: also in radio land, we had ARN Media, the owner 84 00:04:20,160 --> 00:04:22,159 Speaker 1: of Kiss and Pure Gold, announcing the end of an 85 00:04:22,200 --> 00:04:24,640 Speaker 1: era with veteran CEO Kier and Davis stepping down up 86 00:04:24,640 --> 00:04:27,400 Speaker 1: to sixteen years best known probably for luring Kyle and 87 00:04:27,480 --> 00:04:30,440 Speaker 1: Jackie O from TODAYFM to Kiss more than a decade ago, 88 00:04:30,480 --> 00:04:33,160 Speaker 1: but also was overseeing the rollout of that show into Melbourne, 89 00:04:33,240 --> 00:04:35,280 Speaker 1: which hasn't gone so well. Just a big week in 90 00:04:35,400 --> 00:04:36,320 Speaker 1: media Sean. 91 00:04:36,279 --> 00:04:38,640 Speaker 2: Now mystery category. Can I just can I give you 92 00:04:38,680 --> 00:04:41,279 Speaker 2: the economy for this one. I'll do it really quickly 93 00:04:41,320 --> 00:04:43,799 Speaker 2: because plenty going on. We had an interest rate decision 94 00:04:43,839 --> 00:04:47,040 Speaker 2: from Reserve Bank, no cut to rates. Cash rates stays 95 00:04:47,040 --> 00:04:49,760 Speaker 2: at three point six percent, Bond markets pretty much a 96 00:04:49,839 --> 00:04:54,520 Speaker 2: bit that over the next three years the average interest 97 00:04:54,600 --> 00:04:56,760 Speaker 2: rate will be about what it is today, so that's 98 00:04:56,760 --> 00:04:58,719 Speaker 2: something to keep in mind. Then we had the Reserve 99 00:04:58,760 --> 00:05:01,680 Speaker 2: Bank come out both after the interest rate decision end 100 00:05:01,839 --> 00:05:04,080 Speaker 2: in a statement later in the month saying the cost 101 00:05:04,120 --> 00:05:07,320 Speaker 2: of living crisis might not be over, but things are 102 00:05:07,320 --> 00:05:10,160 Speaker 2: looking a lot better. Low inflation, interest rate cuts and 103 00:05:10,200 --> 00:05:13,880 Speaker 2: the government's stays. Three tax cuts are doing the trick significantly. 104 00:05:13,880 --> 00:05:16,520 Speaker 2: The number of inquiries the National debt helpline has stabilized 105 00:05:16,560 --> 00:05:19,240 Speaker 2: over the past year. Just that the worst of the 106 00:05:19,279 --> 00:05:23,279 Speaker 2: cost of living seems to be done and dusted, let's hope. 107 00:05:23,279 --> 00:05:27,920 Speaker 1: So yeah, let's finish on the favorite story, sure, which 108 00:05:27,960 --> 00:05:29,640 Speaker 1: is where we always finish, so it shouldn't be any 109 00:05:29,680 --> 00:05:32,680 Speaker 1: great surprise that we're going to do this. But favorite 110 00:05:32,800 --> 00:05:35,400 Speaker 1: story of the week? Can I nominate one for this please? 111 00:05:36,200 --> 00:05:41,040 Speaker 1: So it is about an Australian company that is become 112 00:05:41,080 --> 00:05:44,359 Speaker 1: one of the hottest defense tech stocks on the planet. 113 00:05:44,600 --> 00:05:44,760 Speaker 2: Right. 114 00:05:44,839 --> 00:05:48,839 Speaker 1: Drone Shield has surged around fifty percent in just three 115 00:05:49,200 --> 00:05:52,880 Speaker 1: days this week, three days fifty percent. It is staggering, 116 00:05:53,120 --> 00:05:55,560 Speaker 1: and it is largely because governments around the world, particularly 117 00:05:56,000 --> 00:05:58,880 Speaker 1: in Europe, are scrambling to counter this rise of cheap, 118 00:05:59,600 --> 00:06:03,479 Speaker 1: deadly drones that have become an integral part of the 119 00:06:03,520 --> 00:06:07,360 Speaker 1: modern battlefield. Denmark had a scare this week several drone incursions, 120 00:06:07,400 --> 00:06:11,040 Speaker 1: and Drone Shield is front and center in offering a 121 00:06:11,080 --> 00:06:14,279 Speaker 1: potential solution for that, and as a result, defense spending 122 00:06:14,279 --> 00:06:16,680 Speaker 1: a soaring Drone Shield are sowing a share price up 123 00:06:16,720 --> 00:06:20,000 Speaker 1: nearly five hundred percent this year alone. It is staggering. 124 00:06:20,080 --> 00:06:20,760 Speaker 1: What did you like? 125 00:06:21,320 --> 00:06:24,400 Speaker 2: I like the opening of the largest bridge or the 126 00:06:24,480 --> 00:06:27,080 Speaker 2: highest bridge in the world, six hundred and twenty five 127 00:06:27,160 --> 00:06:30,640 Speaker 2: meters above a gorge in the southwest of China, one 128 00:06:30,640 --> 00:06:32,680 Speaker 2: and a half kilometers long, nine times higher than the 129 00:06:32,680 --> 00:06:35,680 Speaker 2: Golden Gate Bridge in San Francisco, twice the height of 130 00:06:35,720 --> 00:06:38,359 Speaker 2: the Eiffel Tower. Only took them three years to build 131 00:06:38,360 --> 00:06:40,560 Speaker 2: two hundred and eighty million dollars. Love the fact that 132 00:06:40,600 --> 00:06:44,320 Speaker 2: in August testing team drove ninety six trucks into designated 133 00:06:44,320 --> 00:06:48,320 Speaker 2: points to test the bridge's structural integrity. Who'd want to 134 00:06:48,320 --> 00:06:50,160 Speaker 2: be a truck driver in that? I reckon they'll do 135 00:06:50,240 --> 00:06:54,320 Speaker 2: bungee jumping off it eventually, that's the goal. Anyway, highest 136 00:06:54,440 --> 00:06:56,680 Speaker 2: bridge in the world. The second highest in the world 137 00:06:56,839 --> 00:06:59,159 Speaker 2: is just two hundred klometers upstream set. In fact, seven 138 00:06:59,320 --> 00:07:02,000 Speaker 2: highest bridges in the world are in China, three in 139 00:07:02,040 --> 00:07:02,600 Speaker 2: this region. 140 00:07:02,720 --> 00:07:04,520 Speaker 1: That is very cool. There we go five minutes and 141 00:07:04,560 --> 00:07:06,000 Speaker 1: pretty much everything you need to know in the world 142 00:07:06,040 --> 00:07:08,600 Speaker 1: of business. Thank you, Sean, Thank you Michael. We'll be 143 00:07:08,600 --> 00:07:10,960 Speaker 1: back on Monday morning with the top five business stories 144 00:07:10,960 --> 00:07:12,920 Speaker 1: in five minutes. Don't forget to hit follow and head 145 00:07:12,960 --> 00:07:15,120 Speaker 1: to Fearandgreed dot com dot au to sign up for 146 00:07:15,160 --> 00:07:17,320 Speaker 1: our free daily newsletter. I'll put a link in to 147 00:07:17,400 --> 00:07:19,360 Speaker 1: those show notes as well. I'm Michael Thompson and this 148 00:07:19,440 --> 00:07:21,559 Speaker 1: is the Fast five business news by Fear and Greed.