1 00:00:03,760 --> 00:00:06,960 Speaker 1: It's Thursday, the sixth of February twenty twenty five. Welcome 2 00:00:06,960 --> 00:00:09,480 Speaker 1: to the Fast five Business News by Fear and Greed. 3 00:00:09,480 --> 00:00:11,360 Speaker 1: Will we give you the top five business stories you 4 00:00:11,400 --> 00:00:13,840 Speaker 1: need to know into five minutes. I'm Michael Thompson and 5 00:00:13,880 --> 00:00:15,160 Speaker 1: good morning Sean Aylmer. 6 00:00:15,400 --> 00:00:17,200 Speaker 2: Good morning, Michael, Sean. 7 00:00:17,280 --> 00:00:20,160 Speaker 1: Five stories, five minutes. Let's go with story number one. 8 00:00:20,400 --> 00:00:24,119 Speaker 1: Donald Trump says that the US will take over the 9 00:00:24,200 --> 00:00:27,880 Speaker 1: Gaza Strip and redevelop it into a booming Middle East 10 00:00:28,040 --> 00:00:31,680 Speaker 1: jobs hub, suggesting that the territory could become quote the 11 00:00:31,800 --> 00:00:33,640 Speaker 1: riviera of the Middle East. 12 00:00:33,680 --> 00:00:36,320 Speaker 2: But he warned that the Palestinian people would need to 13 00:00:36,400 --> 00:00:39,200 Speaker 2: be relocated to other countries for the plan to work. 14 00:00:39,640 --> 00:00:43,640 Speaker 2: Unveiling the blueprint alongside Israeli Prime Minister Benjamin Netanyahu at 15 00:00:43,680 --> 00:00:47,159 Speaker 2: the White House, he said that he was prepared to 16 00:00:47,320 --> 00:00:51,440 Speaker 2: us to use US troops to realize his vision if 17 00:00:51,479 --> 00:00:54,080 Speaker 2: it proved necessary. Mister Trump said there was a need 18 00:00:54,120 --> 00:00:56,080 Speaker 2: to do something different in order to break the cycle 19 00:00:56,120 --> 00:00:59,080 Speaker 2: of violence and deliver peace in the Middle East, arguing 20 00:00:59,120 --> 00:01:01,920 Speaker 2: that the world's people could live in the small territory 21 00:01:02,280 --> 00:01:05,600 Speaker 2: once the project was completed. Mister Trump said Gaza should 22 00:01:05,600 --> 00:01:08,720 Speaker 2: not go through a process of rebuilding and occupation by 23 00:01:08,720 --> 00:01:11,600 Speaker 2: the same people that had really stood there and fought 24 00:01:11,640 --> 00:01:14,160 Speaker 2: for it, and lived there and died there and lived 25 00:01:14,240 --> 00:01:17,200 Speaker 2: a miserable existence there. He said the policy could be 26 00:01:17,240 --> 00:01:19,480 Speaker 2: paid for by neighboring countries of great Wealth, and that 27 00:01:19,520 --> 00:01:23,800 Speaker 2: Palestinians could be relocated to other numerous sites or simply 28 00:01:23,840 --> 00:01:26,959 Speaker 2: one large site. Mister Trump signaled his intention to send 29 00:01:26,959 --> 00:01:29,840 Speaker 2: you US troops if necessary, to take control of the 30 00:01:29,880 --> 00:01:33,200 Speaker 2: Gaza Strip and clarify that he saw long term ownership 31 00:01:33,240 --> 00:01:35,720 Speaker 2: positions for America over the territory. 32 00:01:36,400 --> 00:01:38,360 Speaker 1: So many questions about this one, Shawn, But the big 33 00:01:38,400 --> 00:01:40,160 Speaker 1: one is can he actually do this? 34 00:01:41,080 --> 00:01:44,640 Speaker 2: No, not legally anyway. Bunch of sovereignty issues as well, 35 00:01:44,760 --> 00:01:46,920 Speaker 2: bunch of people living there who might not want to move. 36 00:01:46,959 --> 00:01:49,520 Speaker 2: There's a bunch of surrounding states who aren't fussed on 37 00:01:49,680 --> 00:01:52,120 Speaker 2: taking those people. If Donald Trump forced them to move, 38 00:01:52,360 --> 00:01:54,639 Speaker 2: they're probably not that fast on paying for it either. 39 00:01:55,000 --> 00:02:00,160 Speaker 2: Even Benjamin Netanya, who said the option was extreme own 40 00:02:00,160 --> 00:02:02,480 Speaker 2: Prime Minister, was asked about it yesterday. Mister tra Alberanzi 41 00:02:03,040 --> 00:02:07,640 Speaker 2: said Australia would be consistent in terms of speaking out 42 00:02:07,680 --> 00:02:10,440 Speaker 2: against violations of the international law but he wouldn't actually 43 00:02:10,480 --> 00:02:13,080 Speaker 2: go on to say whether or not this was a 44 00:02:13,160 --> 00:02:17,120 Speaker 2: violation of international law. Scholars certainly believe it is. If 45 00:02:17,160 --> 00:02:19,760 Speaker 2: it was to happen, it would be a violation of 46 00:02:19,800 --> 00:02:20,560 Speaker 2: international law. 47 00:02:21,000 --> 00:02:23,639 Speaker 1: Okay, moving on to story number two now, sean Chinese 48 00:02:23,919 --> 00:02:28,240 Speaker 1: AI chatbot, deep Seak, has been banned from federal government 49 00:02:28,360 --> 00:02:33,680 Speaker 1: devices after security agencies warned of quote an unacceptable risk 50 00:02:33,760 --> 00:02:35,600 Speaker 1: to Australian government technology. 51 00:02:35,960 --> 00:02:38,320 Speaker 2: Deep Seat was only released late last month and quickly 52 00:02:38,320 --> 00:02:41,280 Speaker 2: became the number one downloaded free app on Apple's App Store. 53 00:02:41,400 --> 00:02:44,160 Speaker 2: The Chinese company claims to have developed the app very 54 00:02:44,240 --> 00:02:46,360 Speaker 2: quickly and cheaply, which many saw as the threat to 55 00:02:46,400 --> 00:02:48,639 Speaker 2: the US dominance in the space of course the one 56 00:02:48,840 --> 00:02:53,080 Speaker 2: trillion dollar fall and chipmaker Envidia's share market capitalization with 57 00:02:53,120 --> 00:02:55,440 Speaker 2: just one day. Now, the band means all governed bodies 58 00:02:55,480 --> 00:02:58,920 Speaker 2: except corporate organizations like Ossie Posts the ABC have to 59 00:02:58,919 --> 00:03:02,520 Speaker 2: remove deep Seat from their devices immediately, or the employees 60 00:03:02,560 --> 00:03:05,080 Speaker 2: can use them on their own devices. Home Affairs Minister 61 00:03:05,120 --> 00:03:07,480 Speaker 2: Tony Burk said the government was country agnostic on this 62 00:03:07,560 --> 00:03:10,520 Speaker 2: kind of decision, but the government has also previously banned 63 00:03:10,639 --> 00:03:14,959 Speaker 2: Chinese own TikTok and HIGHWAI from government devices over similar 64 00:03:15,040 --> 00:03:16,000 Speaker 2: security concerns. 65 00:03:16,520 --> 00:03:21,239 Speaker 1: Story number three Australia's sovereign fund, the Future Fund, returned 66 00:03:21,360 --> 00:03:24,000 Speaker 1: twelve point two percent last year, largely thanks to a 67 00:03:24,120 --> 00:03:27,000 Speaker 1: surging global share market. It's about the same little bit 68 00:03:27,000 --> 00:03:29,120 Speaker 1: better than the median and balanced Superfund. That's probably a 69 00:03:29,120 --> 00:03:31,600 Speaker 1: good comparison, so you again have to give the Future 70 00:03:31,639 --> 00:03:35,839 Speaker 1: Fund a tick. For twenty twenty four, it basically did well. 71 00:03:35,680 --> 00:03:38,840 Speaker 2: As global equities saw. That happened because Donald Trump won 72 00:03:38,880 --> 00:03:41,160 Speaker 2: the election. Future Fund was along for the ride. They 73 00:03:41,200 --> 00:03:45,120 Speaker 2: held plenty of global equities. CEO Raphael Aren't said the 74 00:03:45,200 --> 00:03:48,520 Speaker 2: Sovereign Wealth Fund had shifted capital from its cash reserves, 75 00:03:48,520 --> 00:03:52,000 Speaker 2: private equity and property holdings to top up its global shares. 76 00:03:52,120 --> 00:03:55,120 Speaker 2: As concerns that the US Federal Reserve interst rate settings 77 00:03:55,120 --> 00:03:58,760 Speaker 2: would induce a recession beta things started looking better. They 78 00:03:58,760 --> 00:04:01,080 Speaker 2: took on more risk assets. As a result, they came 79 00:04:01,160 --> 00:04:04,200 Speaker 2: through with a pretty good return. The Future Fund's assets 80 00:04:04,520 --> 00:04:07,440 Speaker 2: have now hit two hundred and thirty eight billion dollars. 81 00:04:08,360 --> 00:04:12,840 Speaker 1: Sean Story number four. We love a good takeover battle 82 00:04:13,760 --> 00:04:16,279 Speaker 1: on fear and greed, and this one is shaping up 83 00:04:16,320 --> 00:04:19,640 Speaker 1: to be an absolute ripper. Brookfield Capital Partners has joined 84 00:04:19,680 --> 00:04:23,080 Speaker 1: the bidding war for Insignia, matching the three point one 85 00:04:23,160 --> 00:04:26,320 Speaker 1: billion dollar offer in the market from private equity rivals 86 00:04:26,360 --> 00:04:28,200 Speaker 1: Bay Capital and CC Capital. 87 00:04:28,560 --> 00:04:31,760 Speaker 2: The Brookfield bid at four dollar sixty share also allows 88 00:04:31,800 --> 00:04:34,960 Speaker 2: for some Insignia shareholders to stay invested in the business 89 00:04:34,960 --> 00:04:39,760 Speaker 2: by accepting equity in book Field's unlisted vehicle should it succeed. Now, 90 00:04:39,800 --> 00:04:41,720 Speaker 2: CC Capital's the Wall Street firm. We don't know much 91 00:04:41,720 --> 00:04:43,679 Speaker 2: about Bain. We know about that one who bought Virgin 92 00:04:43,680 --> 00:04:47,920 Speaker 2: Australia off administrators. They've already betted their original two point 93 00:04:47,960 --> 00:04:50,960 Speaker 2: seven billion dollar offers. The price now is three point 94 00:04:51,279 --> 00:04:53,880 Speaker 2: one billion dollars. Good news for shareholders. 95 00:04:54,520 --> 00:04:56,919 Speaker 1: Last one story number five, Sean, how about this? The 96 00:04:57,000 --> 00:05:01,840 Speaker 1: US Postal Service has temporarily stopped excess parcels from mainland 97 00:05:02,080 --> 00:05:06,840 Speaker 1: China and Hong Kong, throwing online shopping into absolute chaos. 98 00:05:07,279 --> 00:05:11,320 Speaker 2: So close to half of all three million parcels that 99 00:05:11,520 --> 00:05:14,719 Speaker 2: entered the US each day, which are small parcels, so 100 00:05:14,720 --> 00:05:18,800 Speaker 2: we're not talking about freighters here. Small parcels are sent 101 00:05:19,000 --> 00:05:23,560 Speaker 2: from China. The US Postal Service, until further notice, won't 102 00:05:23,760 --> 00:05:28,400 Speaker 2: actually be accepting parcels it comes after US President Donald 103 00:05:28,440 --> 00:05:31,080 Speaker 2: Trump opposed an additional ten percent tariffs on all goods 104 00:05:31,120 --> 00:05:36,000 Speaker 2: imported to the US from China, that deal caught up 105 00:05:36,040 --> 00:05:39,640 Speaker 2: those small packages as well. So at the moment, anything 106 00:05:39,680 --> 00:05:42,080 Speaker 2: under eight hundred US dollars just can come in out 107 00:05:42,080 --> 00:05:45,000 Speaker 2: of the country without paying duties. That can't happen anymore, 108 00:05:45,040 --> 00:05:46,840 Speaker 2: and the US Postal Service doesn't want to be doing 109 00:05:46,839 --> 00:05:51,200 Speaker 2: anything illegal, so therefore they've stopped accepting parcels. Can you 110 00:05:51,360 --> 00:05:55,040 Speaker 2: imagine the chaos in online commerce as a result of this? 111 00:05:55,800 --> 00:05:58,000 Speaker 1: What an extraordinary backlog. All right, there we go, the 112 00:05:58,000 --> 00:06:00,599 Speaker 1: top five business stories in five minutes. Thank you how much? Sean? 113 00:06:00,880 --> 00:06:01,480 Speaker 2: Thanks Michael. 114 00:06:01,839 --> 00:06:04,400 Speaker 1: It is Thursday, the sixth of February twenty twenty five. 115 00:06:04,600 --> 00:06:07,080 Speaker 1: Remember to hit follow on the podcast and five minutes 116 00:06:07,120 --> 00:06:09,240 Speaker 1: isn't enough. You can find our longer daily show called 117 00:06:09,279 --> 00:06:12,320 Speaker 1: Fear and Greed wherever you listen to podcasts. I'm Michael 118 00:06:12,360 --> 00:06:14,480 Speaker 1: Thompson and that was the fast five business news by 119 00:06:14,520 --> 00:06:16,480 Speaker 1: Fear and Greed. Have a great day.