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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. Oh Michael Thompson and Hello

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Speaker 1: Sean Aleman, Hello Michael shan. On weekdays, it's all about

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Speaker 1: the Fast five, the top five business stories in five minutes.

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Speaker 1: On the weekend, we are still going to keep it

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Speaker 1: a five minutes. It wouldn't be the Fast five if

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Speaker 1: we didn't. But we're going to pick out the biggest

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

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Speaker 1: mystery category as well, and our favorite story. So let's

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Speaker 1: jump straight into it. The biggest story of the week.

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Speaker 1: What was it?

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Speaker 2: Oh, inflation in the economy. Anyone hoping for an interest

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Speaker 2: rate kut was very disappointed this week. Higher than expected

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Speaker 2: inflation figures for October three point eight percent for the headline,

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Speaker 2: three point three percent for the underlying had economists talking

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Speaker 2: about not a rate cut but a rate hike. Ouch.

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Speaker 2: Business investment figures came through now, business investment very important

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Speaker 2: for economic growth, much higher than expected, Juduay berm and

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Speaker 2: New Data sentence. We've also had the unemployment rate in

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Speaker 2: the last fortnighte fall from four point five to four

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Speaker 2: point three percent. We've got We've got retailers saying things

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Speaker 2: are looking pretty good. We get GDP next week. But

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Speaker 2: as every day passes, Michael, a rate cut seems more

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Speaker 2: and more unlikely.

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Speaker 1: Yes, it does appear that way. The other big story

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Speaker 1: I thought massive week in Canberra this week sean last

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Speaker 1: sitting week of the year. A couple of headlines, major

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Speaker 1: overhaul of environmental laws. There's a deal between the Government

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Speaker 1: and the Greens just in time to get this one through.

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Speaker 1: The Government says it offers better environmental protections while at

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Speaker 1: the same time speeding up approvals for a whole bunch

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Speaker 1: of big projects. Big impact on business, big impact on

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Speaker 1: the economy. The other headline out of Canberra this week

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Speaker 1: was Barnaby Joyce quitting the NATS after two decades with

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Speaker 1: the party. Is considering his options, but look, I suspect

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Speaker 1: between us, we probably all know that he's going to

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Speaker 1: one nation, isn't he speaking of one nation? Pauline Hanson

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Speaker 1: pulled a couple of stunts it's never far from the

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Speaker 1: headlines this week. Was she wearing a burker into the

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Speaker 1: Senate and then cooking a steak on a sandwich press

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Speaker 1: while courting Barnaby Joyce. Some very memorable images, Sean, most

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Speaker 1: remarkable story.

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Speaker 2: What was a remarkable burst of M and A activity.

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Speaker 2: This week, mcquarrey Asset Management made an eleven point six

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Speaker 2: billion dollar bit for logistics group Cube. What does Cube do?

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Speaker 2: Just move stuff around, grain, oil, seed's cars, forestry, all

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Speaker 2: sorts of things. For its part, Macquarie is pushing further

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Speaker 2: and further into becoming a major player in logistics in

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Speaker 2: this country. Then we had a bid that really wasn't BHP.

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Speaker 2: It made a bid for Anglo American seventy five million, sorry,

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Speaker 2: seventy five billion dollars that was rebuffed. It's had another

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Speaker 2: crack sort of it said. It had preliminary discussions, not

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Speaker 2: going anywhere, no deal, but it shows how much BHP

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Speaker 2: wants copper, how it is acquisitive at the right price. Also,

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Speaker 2: a report out of the US said there's been more

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Speaker 2: mega deals this year above ten billion US than any

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Speaker 2: other year ever. Deals about remarkable.

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Speaker 1: Yeah, that is remarkable. An honorable mention to the heat

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Speaker 1: in the property market, Sean. We talked this week about

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Speaker 1: the domain figures, predicting that in the next twelve months

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Speaker 1: there's going to be a surge in prices that we'll

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Speaker 1: see meeting prices in Sydney hit one point nine to

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Speaker 1: two million dollars by this time next year, just under

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Speaker 1: one point two mil in Melbourne, about the same as Canbra.

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Speaker 1: It is getting hot and we did see them this week.

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Speaker 1: APRA stage a bit of an intervention. Basically, they're worried

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Speaker 1: about risky loans, trying to get in ahead of it

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Speaker 1: becoming a problem, putting some limits on what banks can

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Speaker 1: can lend to certain individuals. Really, it's going to be

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Speaker 1: affecting investors more than anyone. Mystery category. Let's get to

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Speaker 1: this one because this is the fun one, right, Untold

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Speaker 1: Riches is the category. What was your favorite?

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Speaker 2: My favorite was the parking inspector and his wife in

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Speaker 2: a town called Kempton in Germany. Well, they've been arrested

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Speaker 2: on suspicion of embezzling more than one million euros two

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Speaker 2: million bucks from parking meters. The inspectors thought to have

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Speaker 2: taken coins out of the parking meters and the quote

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Speaker 2: is on numerous occasions and then placed them into bank accounts. Basically,

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Speaker 2: he and his wife are putting him into bank accounts.

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Speaker 2: The banks came and said this is all a bit

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Speaker 2: on that these guys keep coming with all these coins,

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Speaker 2: and they've got a couple of million bucks in the

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Speaker 2: bad We're fifth going on in Germany at the moment.

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Speaker 2: The UK's Daily Mailer reported that in Hamburg, an employee

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Speaker 2: he's been accused of one of the strangest workplace thefts.

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Speaker 2: He has stolen two tons of coffee. He was did

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Speaker 2: work for a local coffee training company. Untold riches, parking

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Speaker 2: meter and inspectors stealing coins, coffee, people stealing coffee?

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Speaker 1: Can I nominate the richest shipwreck of all time? Giving

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Speaker 1: up its first treasures? The San Jose sankof Columbia three

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Speaker 1: hundred years ago, carrying a whopping thirty billion dollars worth

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Speaker 1: of treasure, A real treasure, gold, silver, emeralds, etc. Stolen

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Speaker 1: by the Spanish, sunk by the British. The location in

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Speaker 1: the Caribbean a state secret to stop treasure hunters. First

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Speaker 1: things coming up, gold coins, a cannon, porcelain cup, which

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Speaker 1: is less exciting. I should have led with the cannon,

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Speaker 1: but there's a big, big, big legal dispute over who

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Speaker 1: owns it, whether it's a US company that founded or

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Speaker 1: the Colombian government or the Spanish ship it was or

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Speaker 1: the people who treasure was actually stolen in the first place, Sean,

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Speaker 1: But a great story. That one favorite story. What's yours?

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Speaker 2: Wow, it's actually watching global diplomacy in real time. It's

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Speaker 2: about the negotiations of the war in Ukraine. We had

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Speaker 2: the Russians and the Americans negotiating. We're the Ukrainians and

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Speaker 2: the Americans negotiating with the Europeans and the Americans and

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Speaker 2: Ukrainians negotiating. We haven't actually had the two parties who

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Speaker 2: are at war, the Ukrainians and the Russians negotiating. There's

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Speaker 2: been a twenty eight point plan and nineteen point plan

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Speaker 2: tooing and framing, and we're not there yet. Fascinating to

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Speaker 2: watch global diplomacy in real time.

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Speaker 1: Yeah, absolutely, special shout out, very quick shout out to

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Speaker 1: the biggest retail event of the year. We are in

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Speaker 1: the middle now between Black Friday and Cyber Monday. It

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Speaker 1: really really matters for Australian retailers and a lot of

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Speaker 1: people are getting in early and doing their Christmas shopping. Sean.

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Speaker 1: There we go five minutes and pretty much everything you

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Speaker 1: need to know in the world of business. May you

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Speaker 1: very much, Michael, don't forget to hit follow on the

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Speaker 1: podcast and head to Fear and Greed dot com. Today

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Speaker 1: you to sign up for our free daily newsletter OHM

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

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Speaker 1: by Fearing Christ

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Speaker 2: Mmm