1 00:00:04,200 --> 00:00:06,720 Speaker 1: Welcome to the weekend edition of The Fast Five Business 2 00:00:06,760 --> 00:00:09,039 Speaker 1: News by Fear and Greed. I'm Michael Thompson and Hello 3 00:00:09,119 --> 00:00:09,799 Speaker 1: Sean Ailmer. 4 00:00:10,000 --> 00:00:11,319 Speaker 2: Hello Michael Sean. 5 00:00:11,360 --> 00:00:13,360 Speaker 1: On weekdays, it's all about the Fast five, the top 6 00:00:13,400 --> 00:00:14,840 Speaker 1: five business stories in five minutes. 7 00:00:14,880 --> 00:00:16,000 Speaker 2: On the weekend, we still keep. 8 00:00:15,920 --> 00:00:18,840 Speaker 1: It to five minutes, obviously, but we're going to pick 9 00:00:18,840 --> 00:00:22,079 Speaker 1: out the biggest business story of the week, the sleeper story, 10 00:00:22,360 --> 00:00:25,200 Speaker 1: one that's flying under the radar, most remarkable story, and 11 00:00:25,280 --> 00:00:29,120 Speaker 1: our favorite story. Let's jump straight into the biggest business story. 12 00:00:30,520 --> 00:00:31,760 Speaker 1: You go first on this one, Sean. 13 00:00:31,880 --> 00:00:32,199 Speaker 2: Okay. 14 00:00:32,440 --> 00:00:34,640 Speaker 3: Three big issues this week which we're going to fight 15 00:00:34,680 --> 00:00:36,800 Speaker 3: an election about over the in about four or five 16 00:00:36,840 --> 00:00:39,880 Speaker 3: months time. First one, easy alb and easy gouvernment planning 17 00:00:39,880 --> 00:00:43,000 Speaker 3: to force social media companies to pay for journalism. If 18 00:00:43,040 --> 00:00:47,120 Speaker 3: this big social media groups like Meta etc. Don't pay 19 00:00:47,159 --> 00:00:49,560 Speaker 3: for it, they're going to get whacked with a bill 20 00:00:49,600 --> 00:00:53,360 Speaker 3: from the tax office. Second one's childcare. Prime Minister is 21 00:00:53,360 --> 00:00:56,560 Speaker 3: trying to make access to childcare easier dropping the activity test, 22 00:00:56,680 --> 00:00:59,959 Speaker 3: is talking about a big billion dollar fund to expand 23 00:01:00,000 --> 00:01:03,440 Speaker 3: and the number of child care facilities available. Also a 24 00:01:03,440 --> 00:01:07,120 Speaker 3: flat feet for childcare. Peter Dunton is against some of 25 00:01:07,200 --> 00:01:10,000 Speaker 3: these ideas. This is a big one because access to 26 00:01:10,800 --> 00:01:14,960 Speaker 3: education for children under five absolutely helps their futures, so 27 00:01:15,200 --> 00:01:17,039 Speaker 3: there'll be a big fight and that one. The other 28 00:01:17,080 --> 00:01:20,520 Speaker 3: one is energy. The coalition's nuclear power plant will cost 29 00:01:20,840 --> 00:01:23,720 Speaker 3: two hundred and sixty three billion dollars less than Labour's 30 00:01:23,720 --> 00:01:26,960 Speaker 3: renewable roll out between now and twenty fifty, according to 31 00:01:27,600 --> 00:01:32,600 Speaker 3: Frontier Economics, which has been employed by the Coalition. Now 32 00:01:32,680 --> 00:01:37,559 Speaker 3: under the Coalitions model seven nuclear power plants, renewable energy 33 00:01:37,640 --> 00:01:40,480 Speaker 3: still dominant by twenty fifty, but we will also have 34 00:01:40,560 --> 00:01:43,480 Speaker 3: plenty of nuclear power in that under the government's policy. 35 00:01:43,520 --> 00:01:45,880 Speaker 3: By twenty fifty will end up with ninety four percent 36 00:01:45,920 --> 00:01:49,800 Speaker 3: of generation in renewables. Three really big issues that came 37 00:01:49,840 --> 00:01:50,600 Speaker 3: to the four this week. 38 00:01:50,640 --> 00:01:53,559 Speaker 1: Michael, Yeah, a massive week, and particularly in politics. There's 39 00:01:53,720 --> 00:01:56,040 Speaker 1: also a bit of economic news around this week, Sean. 40 00:01:56,080 --> 00:01:59,400 Speaker 1: We obviously had the Reserve Bank Board meet early in 41 00:01:59,440 --> 00:02:01,040 Speaker 1: the week and they left interest rates on hop but 42 00:02:01,080 --> 00:02:04,080 Speaker 1: they did open the door to maybe considering rate cuts 43 00:02:04,120 --> 00:02:07,800 Speaker 1: in the future. Then though, later in the week we 44 00:02:07,920 --> 00:02:10,440 Speaker 1: got the jobless figures, the unemployment figures, which showed that 45 00:02:10,440 --> 00:02:13,000 Speaker 1: the unemployment rate fell to three point nine percent when 46 00:02:13,040 --> 00:02:14,800 Speaker 1: everyone was kind of expecting it to keep climbing a 47 00:02:14,800 --> 00:02:19,280 Speaker 1: bit higher, which, unfortunately as slammed that door shut, the 48 00:02:19,320 --> 00:02:23,120 Speaker 1: interest rate cut, door shut for a little bit longer, 49 00:02:23,720 --> 00:02:26,639 Speaker 1: a little bit longer, unfortunately, Sean. So big week for 50 00:02:26,680 --> 00:02:27,600 Speaker 1: the economy as well. 51 00:02:27,800 --> 00:02:30,239 Speaker 2: What about the most remarkable story from you, Michael. 52 00:02:31,400 --> 00:02:34,320 Speaker 1: Sean, The most remarkable story I think is actually it 53 00:02:34,400 --> 00:02:40,520 Speaker 1: is all about Elon Musk. The surging wealth and power 54 00:02:40,680 --> 00:02:43,400 Speaker 1: I suppose as well of Elon Musk, and it was 55 00:02:43,480 --> 00:02:47,000 Speaker 1: because of Tesla. This week the share price jumped in 56 00:02:47,040 --> 00:02:50,680 Speaker 1: one day six percent to be valued around one point 57 00:02:50,720 --> 00:02:54,960 Speaker 1: three trillion US dollars. Tesla has doubled in value since August. 58 00:02:55,000 --> 00:02:57,720 Speaker 1: Investors are excited about Elon Musk's relationship with Donald Trump 59 00:02:57,760 --> 00:03:00,960 Speaker 1: and hopes that Tesla could actually then benefit from the administration. 60 00:03:01,160 --> 00:03:04,440 Speaker 1: When you add to that the massive valuation of SpaceX 61 00:03:05,000 --> 00:03:08,440 Speaker 1: this week, which is Musk's rocket company, Elon Musk is 62 00:03:08,520 --> 00:03:13,519 Speaker 1: now worth around four hundred billion US dollars. The first 63 00:03:13,639 --> 00:03:16,640 Speaker 1: human in history to be worth over that market is 64 00:03:16,720 --> 00:03:19,840 Speaker 1: just it is staggering wealth, Sean, It sure is. 65 00:03:19,840 --> 00:03:21,200 Speaker 2: There's nothing more remarkable than that. 66 00:03:21,320 --> 00:03:23,440 Speaker 3: I just want to quickly mention a couple of Pe 67 00:03:23,520 --> 00:03:27,000 Speaker 3: firms brought into NFL teams. That's the American football teams 68 00:03:27,320 --> 00:03:30,480 Speaker 3: valuing these teams. That's sort of seven eight billion dollars. 69 00:03:30,840 --> 00:03:35,280 Speaker 3: Suddenly we're getting private investors like Pe getting into sport. 70 00:03:35,440 --> 00:03:38,920 Speaker 3: We ended up having the PNNG team joining the National 71 00:03:39,000 --> 00:03:42,360 Speaker 3: Rugby League. Here in Australia, we've got fight over foxhell 72 00:03:42,400 --> 00:03:45,120 Speaker 3: who's going to buy that big money coming into sport. 73 00:03:45,240 --> 00:03:46,720 Speaker 2: I think that's quite remarkable too. 74 00:03:46,880 --> 00:03:49,760 Speaker 1: Yeah, indeed, sleeper story one flying under the radar a bit. 75 00:03:49,840 --> 00:03:51,960 Speaker 2: Have you have you picked one out for us? 76 00:03:52,440 --> 00:03:54,960 Speaker 3: Look, any workism's on the rise. There's been a couple 77 00:03:54,960 --> 00:03:57,760 Speaker 3: of incidents this week from different spheres that demonstrate its 78 00:03:57,800 --> 00:03:59,760 Speaker 3: impact and I don't think it's that good in the US. 79 00:03:59,800 --> 00:04:03,400 Speaker 3: And any Woke Investment Fund has been established as Zorier Partners. 80 00:04:03,440 --> 00:04:06,840 Speaker 3: Basically it will only invest in companies that do not 81 00:04:07,360 --> 00:04:11,240 Speaker 3: have things like diversity, equity and inclusion in their hiring processes. 82 00:04:11,560 --> 00:04:14,120 Speaker 3: Back home, oppositionally to Peter Dutton said if elected, he 83 00:04:14,120 --> 00:04:17,000 Speaker 3: wouldn't stand in front of the Australian and Indigenous flags 84 00:04:17,000 --> 00:04:19,600 Speaker 3: when giving a briefing as Prime Minister. To Anthony Albernez, 85 00:04:19,640 --> 00:04:22,279 Speaker 3: he does mister Dutton's argument is that we want one 86 00:04:22,560 --> 00:04:25,839 Speaker 3: unifying flag for all Australians, who also suggested the indigenous 87 00:04:25,839 --> 00:04:29,240 Speaker 3: flag shouldn't fly above the Harbor Bridge. Investors and politicians 88 00:04:29,279 --> 00:04:31,760 Speaker 3: are definitely emboldened by the rise of Donald Trump to 89 00:04:31,839 --> 00:04:34,840 Speaker 3: start eating away at many of the hard one gains 90 00:04:34,839 --> 00:04:40,880 Speaker 3: by minorities, vilified people, disadvantage Groupsism isn't about favoring some 91 00:04:40,920 --> 00:04:44,000 Speaker 3: of cohorts. It's just about ensuring they're at least heard. 92 00:04:44,360 --> 00:04:46,719 Speaker 3: Any workism does the opposite. I think it's a worry. 93 00:04:47,000 --> 00:04:49,920 Speaker 1: Yeah, indeed to say it, certainly as a sleeper story. Sean, 94 00:04:50,440 --> 00:04:53,240 Speaker 1: what was your favorite story is? Did you have a 95 00:04:53,240 --> 00:04:54,039 Speaker 1: favorite this week? 96 00:04:54,600 --> 00:04:54,800 Speaker 2: Look? 97 00:04:54,880 --> 00:04:58,640 Speaker 3: I just loved those Google details or the details about 98 00:04:58,640 --> 00:05:01,520 Speaker 3: what people are gurgling, as in the meanings of the 99 00:05:01,520 --> 00:05:05,080 Speaker 3: words demure, sulfage, vox, monticello, sobriquet. 100 00:05:05,400 --> 00:05:06,880 Speaker 2: I only need two of the five. 101 00:05:06,680 --> 00:05:11,400 Speaker 3: Words, the five most asked meanings of also the how 102 00:05:11,480 --> 00:05:14,800 Speaker 3: tos how to mew mew that was in there. 103 00:05:14,920 --> 00:05:16,960 Speaker 2: I have no idea how to mew? You know, I 104 00:05:17,000 --> 00:05:18,640 Speaker 2: love this time of year and Gigle comes and tells 105 00:05:18,720 --> 00:05:19,600 Speaker 2: us what people searching. 106 00:05:19,640 --> 00:05:23,039 Speaker 1: Michael, Yeah, indeed, look a quick favorite story from me 107 00:05:23,360 --> 00:05:26,440 Speaker 1: was Colgate palm Oliff, which is obviously a huge company, 108 00:05:26,680 --> 00:05:29,040 Speaker 1: doing something with technology that we haven't seen before, the 109 00:05:29,120 --> 00:05:33,120 Speaker 1: building digital twins that are programmed to simulate real life consumers. 110 00:05:33,160 --> 00:05:35,440 Speaker 1: Trying to speed up the process of developing new products. 111 00:05:35,440 --> 00:05:36,960 Speaker 1: But part of that is getting the feedback about what 112 00:05:37,040 --> 00:05:40,919 Speaker 1: people like, et cetera. Using digital replicas of people in 113 00:05:41,040 --> 00:05:44,320 Speaker 1: order to do that. I think it's it's innovative, also 114 00:05:44,320 --> 00:05:45,039 Speaker 1: that it's a little. 115 00:05:44,839 --> 00:05:47,160 Speaker 2: Bit scary as well. Sean, totally totally all right. 116 00:05:47,200 --> 00:05:48,880 Speaker 1: There we go five minutes and pretty much everything you 117 00:05:48,960 --> 00:05:49,919 Speaker 1: need to know in the world of business. 118 00:05:49,920 --> 00:05:51,680 Speaker 2: Thank you very much, Sean, Thank you, Michael. 119 00:05:51,960 --> 00:05:53,800 Speaker 1: We'll be back on Monday morning with the top five 120 00:05:53,839 --> 00:05:56,000 Speaker 1: business stories in five minutes. Don't forget to hit follow 121 00:05:56,040 --> 00:05:59,200 Speaker 1: and join us online on Instagram, TikTok, LinkedIn, Facebook and X. 122 00:05:59,360 --> 00:06:00,200 Speaker 2: I'm Michael Tomson. 123 00:06:00,279 --> 00:06:03,200 Speaker 1: This is the Fast by Business Newspect You're engraced.