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Speaker 1: It's Thursday, the ninth of April twenty twenty six. 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 in just five minutes. I'm Michael Thompson

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Speaker 1: and good morning Sean Aylmer. Good morning, Michael, Sean. Five

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Speaker 1: stories five minutes. Let's go with story number one. They're

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Speaker 1: all big stories today. Global share markets surged on the

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Speaker 1: back of a two week ceasefire in hostilities in the

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Speaker 1: Middle East War and really hopes for a lasting piece.

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Speaker 1: The ASX yesterday opened more than two and a half

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Speaker 1: percent higher, and it basically just stayed there all day.

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Speaker 1: It finished at nine hundred and fifty two points, having

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Speaker 1: added about eighty billion dollars in value. It's only about

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Speaker 1: two point seven percent below it's all time high at

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Speaker 1: the beginning of the Middle East War. There was so

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Speaker 1: much good news around yesterday. Let me just get the

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Speaker 1: negative out of the way first short quickly, oil prices dropped,

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Speaker 1: with Brent dropping back to ninety four US. It's good

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Speaker 1: because if you're filling up few not great news, right

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Speaker 1: if you are an energy company though, right Cairn Energy,

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Speaker 1: Woodside New Hope, Coal, Viva Energy. They all fell sharply.

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Speaker 1: In fact, Woodside was down eleven percent. That was its

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Speaker 1: biggest fall since the COVID pandemic in twenty twenty. All right,

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Speaker 1: I've done the go fat.

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Speaker 2: Otherwise, here we get a quiry makes lots of money overseas,

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Speaker 2: it jumps six percent, the big banks up two to

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Speaker 2: four percent, bitch p four touscurrea all jump. But how

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Speaker 2: about the airline's quantus nearly ten percent, Virgin nearly twelve percent.

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Speaker 2: Interest rate sensitive sectors like technology, property companies they did well.

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Speaker 2: Gold prices it up, so the gold companies did well.

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Speaker 2: The Ausie dollars back towards seventy one uscents. Cryptocurrencies led

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Speaker 2: by bitcoin, they were flat, But to be fair, cryptos

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Speaker 2: had done really well in the last few weeks. Michael.

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Speaker 2: It was party time on the AX yesterday.

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Speaker 1: When we were talking this time yesterday morning, Sean, we

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Speaker 1: were hours from potentially all out war. And just just

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Speaker 1: how incredible this period of time. I was ninety minutes

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Speaker 1: before the deadline for enacting his threat to wipe out

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Speaker 1: a run, or, as Donald Trump put it, an entire civilization.

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Speaker 1: The two countries agreed on a two week ceasefire, which

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Speaker 1: was broken by Pakistan. Trump, on truth socials, said he

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Speaker 1: would pause fighting if Iran agreed to unblock the Strait

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Speaker 1: of Humus. Tehran responded, saying it would stop counterattacks and

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Speaker 1: provide safe passage through the waterway.

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Speaker 2: That's right. Iran's come up with a list of ten demands.

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Speaker 2: US has got fifteen demands. Speak ticket items. The US

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Speaker 2: once Iran to dismantlist nuclear capabilities and reopened the Straight

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Speaker 2: of Humus. Iran once reparations and the withdrawal of US

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Speaker 2: combat forces. We'll have to see how that all goes. Yesterday,

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Speaker 2: our own Prime Minister ant in the Alberaniz he was

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Speaker 2: critical of Trump for threatening to wipe out a civilization,

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Speaker 2: as he put it, but like most global leaders, he

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Speaker 2: was pretty happy about the ceasefire.

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Speaker 1: Story number two is very much linked to story number

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Speaker 1: one because it's this question of what do we take

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Speaker 1: from all of this? Right, Because clearly you could say

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Speaker 1: that Donald Trump's bark is worse than his bike, particularly

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Speaker 1: over the last few weeks as that rhetoric has really

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Speaker 1: amped up, although you could also argue that he's used

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Speaker 1: that tough language purely as a negotiating tool here, investors

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Speaker 1: are clearly delighted that there hasn't been any further escalation

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Speaker 1: in the conflicts, and it seems really that investors perhaps

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Speaker 1: didn't ever believe that the US would actually attack civilian

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Speaker 1: infrastructure as had been threatened. And while this isn't going

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Speaker 1: to help much in the short term at the petrol

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Speaker 1: pump or supermarket, it's definitely a welcome step to pulling

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Speaker 1: back the inflationary pressures and helping economic growth.

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Speaker 2: Right. I think what it shows though, from a geopolitical viewpoint,

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Speaker 2: is that Iran holds a strategic mega weapon. The Strait

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Speaker 2: of Hormula's twenty million battles of oil a day. Lots

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Speaker 2: of other general shipping goes through that, and Iran controls it.

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Speaker 2: So when you get US gas at four dollar's leader

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Speaker 2: Aussie winner, crops not being planted because the fertilizer shortages,

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Speaker 2: Chinese renewable energy doing well, central banks raising interest rates.

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Speaker 2: This is when that strait's only been closed for about

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Speaker 2: five weeks. Right, assuming the two weeks cease fire stays.

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Speaker 2: In the gay shows final lasting piece I reckon, Iran

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Speaker 2: ends up more powerful because of its geography and dominance

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Speaker 2: of the Strait. None of us knew about that, the

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Speaker 2: policy wonks understood it. Now we all know about it.

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Speaker 2: I reckon Iran at this point has not. I mean

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Speaker 2: that the human tragedy clearly is awful, but from a

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Speaker 2: geopolitical sense, I'm not sure Iran's lost a lot.

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Speaker 1: Yeah, I think you might be right there, Sean story

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Speaker 1: number three. The fuel shock from the Iran War is

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Speaker 1: now it's actually spilling into Australia's industrial relations system. The

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Speaker 1: union that covers tens of thousands of council workers in

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Speaker 1: New South Wales has launched a case in the Industrial

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Speaker 1: Relations Commission seeking emergency workplace conditions, including work from home rights,

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Speaker 1: four day week options, a big lift as well in

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Speaker 1: fuel subsidies. The claim is aimed at more than fifty

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Speaker 1: five thousand staff across one hundred and twenty eight councils.

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Speaker 2: The United Services Union says staff are strongly struggling simply

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Speaker 2: to get to work. It wants a splinter award that

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Speaker 2: kicks in whenever unleaded petrol prices are above two dollars

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Speaker 2: a later. Now it's only the second formal push for

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Speaker 2: emergency workplace changes. What the UN's really saying here This

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Speaker 2: isn't just a personal budgeting issue. It's a system shock

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Speaker 2: and some employers have to adapt.

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Speaker 1: Yeah. Story number four, Drone Shield has announced a fairly

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Speaker 1: significant leadership shakeup. Longtime chief executive Oliic Vaughnick has resigned,

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Speaker 1: effective immediately, and chair Peter James will retire next month.

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Speaker 1: It comes five months after a large sell down by

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Speaker 1: senior inside has triggered a crisis really in investor confidence.

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Speaker 1: Vaughnick sold at nearly fifty million dollars worth of shares

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Speaker 1: shortly after receiving them, while James sold about twelve and

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Speaker 1: a half million dollars. Another director also sold stock.

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Speaker 2: Yeah. Look, the stock dropped sharply on the news of

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Speaker 2: the resignations. Yes, today it was down about four nine

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Speaker 2: and a half percent the two weeks. Sis five doesn't

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Speaker 2: help drained Shield either, Corus. You hear his trust. Retail

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Speaker 2: investors love Drone Shield, Institutions aren't so sure when they

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Speaker 2: see insider selling at that scale. Limited initial explanation, it's

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Speaker 2: just hard to shake last one.

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Speaker 1: Story number five just quickly. Kanye West Sean has been

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Speaker 1: blocked from traveling to the UK after colls mounted for

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Speaker 1: the government to ban the US rapper from performing at

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Speaker 1: a London music festival this summer over previous anti Semitic

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Speaker 1: remarks and conduct. The musician made an application on Monday

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Speaker 1: to travel to Britain, which was then refused by the

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Speaker 1: Home Office on the grounds that his presence would not

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Speaker 1: be conducive to the public good.

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Speaker 2: Downing Street said on Tuesday that decisions on permission to

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Speaker 2: enter the country were taken on a case by case basis,

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Speaker 2: in line with the law and the evidence available, while

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Speaker 2: then heavily condemning west Pass remarks, of course, Kanye was

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Speaker 2: being from here last year after he released a song

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Speaker 2: titled Hale Hitler and sold t shirts featuring a SWA.

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Speaker 1: All right, there we go to the top five business

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Speaker 1: stories in five minutes. Thank you Sean, Thank you Michael.

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Speaker 1: It is Thursday, the ninth of April twenty twenty six,

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Speaker 1: remembered hit follow on the podcast and in five minutes

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Speaker 1: just isn't long enough for you. You can find our

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Speaker 1: longer daily show called Fear and Greed wherever you listen

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Speaker 1: to podcasts. I'm Michael Thompson and that was a fast

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Speaker 1: five business news by Fear and Greed. Have a great day.