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Speaker 1: It's Friday, the eighteenth of July twenty twenty five. Welcome

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Speaker 1: to the Fast Five by Fear and Greed, where we

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Speaker 1: give you the top five business stories you need to

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Speaker 1: know in just five minutes. I'm Adam Lange and good morning,

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Speaker 1: Sean Aylmer.

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Speaker 2: Good morning in Danski, Sean story number one.

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Speaker 1: The unemployment rate has risen to its highest level in

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Speaker 1: almost four years, opening the way for an interest rate

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Speaker 1: cut when the Reserve Bank Board meets next month.

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Speaker 2: The unemployment rate hit four point three percent in June

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Speaker 2: from four point one percent in May. It is still low,

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Speaker 2: but there's an upward trend. According to the Australian Bureau

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Speaker 2: of Statistics, the last time the unemployment rate was this

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Speaker 2: high was during the COVID pandemic, although to be fair,

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Speaker 2: it did spend pretty much all of the pre pandemic

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Speaker 2: forty years above this level. There were just two thousand

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Speaker 2: new jobs created last month, well below expectations that the

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Speaker 2: composition was poor. Thirty eight thousand full time jobs were lost,

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Speaker 2: forty thousand part time rolls were created, gives the two

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Speaker 2: thousand number. If you dig into the numbers, they suggest

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Speaker 2: a broad weekning in the labor market. Annually. Jobs growth

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Speaker 2: is running at about two percent, which is below the

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Speaker 2: growth in the labor force. Also, measures of underemployment have

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Speaker 2: shifted higher. Having said all that, the Reserve Bank is

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Speaker 2: still worried that the labor market is tight. It is

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Speaker 2: the Reserve Bank's concerned about high unit labor costs and

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Speaker 2: subdued productivity stoking inflation.

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Speaker 1: Again, Sean, please boil this down. What does it mean

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Speaker 1: for interest rates?

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Speaker 2: It is very very very likely that the Reserve Bank

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Speaker 2: will cut rates when it meets on twelve August. Mind you,

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Speaker 2: we said that before the last meeting two weeks ago.

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Speaker 2: After that meeting, Gaven the Michelle Bullock stress that the

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Speaker 2: unexpected pauses was more about timing, not the direction of rates.

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Speaker 2: What we know is that underlying inflation continues to moderate,

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Speaker 2: household demand is soft, there's downside risks from what's happening overseas,

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Speaker 2: and the employment market is doing pretty much what the

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Speaker 2: Reserve Bank forecasts. The main risk for a rate cut

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Speaker 2: is a surprisingly high inflation reading when the June quarter

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Speaker 2: figures come out at the end of the month. Judging

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Speaker 2: by financial markets reaction to the labor force figures yesterday,

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Speaker 2: they think a rate cut is coming. Bond markets have

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Speaker 2: priced in a ninety four percent chance. The ausidollard dropped immediately,

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Speaker 2: falling under sixty five US cents, while the ASX jumped.

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Speaker 1: Suan storing number two. Superannuation funds have had another very

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Speaker 1: good financial year, with the Median Growth Fund returning ten

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Speaker 1: point five percent for fiscal twenty twenty five. That's better

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Speaker 1: than the previous two very good years, and it means

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Speaker 1: super funds have now returned more than thirty percent in

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Speaker 1: three years.

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Speaker 2: The Median Growth Fund has sixty one to eighty percent

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Speaker 2: of its portfolio invested in growth assets stuff like equities.

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Speaker 2: Thanks to near fourteen percent rise in international end local equities,

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Speaker 2: growth funds have done very very well. Infrastructure is also

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Speaker 2: a key asset of growth funds. That asset class did

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Speaker 2: well while private equity gains were up around nine and

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Speaker 2: a half percent. According to chant West. More defensive assets

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Speaker 2: such as bonds had a pretty good year. Local bonds

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Speaker 2: are up nearly seven percent, International bonds are up five

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Speaker 2: point four percent. Of course, superannuations are long term investment,

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Speaker 2: so it's better to think over sort of a decade

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Speaker 2: or so. Growth funds, according to chant West, have returned

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Speaker 2: seven point two two percent per annum over that period.

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Speaker 2: High grades at eight point four percent, more conservative balanced

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Speaker 2: at five point nine percent. Pretty good returns from our superfunds.

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Speaker 1: Story number three. The Prime Minister Anthony Albanesi and his

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Speaker 1: fiancee Jody Hayden spent their last full day in China

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Speaker 1: yesterday checking out a bunch of pandas.

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Speaker 2: Pandered to Pomacy adam is a real thing. Beijing gifted

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Speaker 2: pandas to the US in nineteen seventy two after Richard

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Speaker 2: Nixon Nixon's visit marking of thorign relations. It seems to

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Speaker 2: have taken off from there. Australian received two pandas, Wang

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Speaker 2: Wang and Funi in two thousand and nine. Their arrival

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Speaker 2: amid free trade negotiations was seen as a gesture of goodwill.

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Speaker 2: Now they departed last year and one of the pandas

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Speaker 2: that Anthony Albaneze visited yesterday was Fu Ni, the one

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Speaker 2: that had been in the Adelaide Zoo. Beyond the pandas,

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Speaker 2: the Prime Minister said the trip had been very successful

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Speaker 2: and he once more Australian money spent in China, citing

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Speaker 2: the success of hearing aid manufacturer cockle up in Chengdu.

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Speaker 2: He dodged a question about whether he trusts Chinese President Jijingping.

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Speaker 2: Speaking at a press conference, albanez He said he had

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Speaker 2: no reason not to trust the Chinese leader. Albanizi also

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Speaker 2: rejected criticism from the Coalition that his tripped to China

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Speaker 2: was indulgent.

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Speaker 1: Story number four. Australia's Anti laundering and counter terrorism financing

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Speaker 1: regulator OSTRAK will focus on high risk sectors such as

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Speaker 1: cash and digital currencies this financial year.

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Speaker 2: Its regulatory priorities are on what it callsed transch to industries,

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Speaker 2: so it's thinking about real estate agents, lawyers, conveyances, accountants,

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Speaker 2: trust and company service providers and dealers in precious medals

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Speaker 2: and stones. It's a shift from regulation that primary primarily

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Speaker 2: checks for compliance to one focused on substantive risks and harms.

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Speaker 2: As part of preparations ahead of legislative reforms in July

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Speaker 2: next year, OSTRAK is scaling up its workforce and systems

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Speaker 2: to bring abound eighty thousand new businesses under its auspices.

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Speaker 1: Story number five. Eight babies have been born in the

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Speaker 1: UK using genetic material from three different people to prevent

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Speaker 1: devastating and often fatal conditions.

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Speaker 2: The method, pioneered by UK scientists combines the egg and

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Speaker 2: sperm from a mom and dad with her second egg

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Speaker 2: from a dana woman. The technique has been legal for

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Speaker 2: a decade according to BBC, but only now is the

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Speaker 2: proof that children have been born free of the incurable

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Speaker 2: mitochondrial disease, which essentially starts the body of energy and

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Speaker 2: it's normally passed from mother to child. Couples know they're

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Speaker 2: at risk of previous children, family members or the mother

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Speaker 2: has been affected. Children born through the three person technique

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Speaker 2: inherit most of their DNA, their genique blueprint from their parents.

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Speaker 2: They also get a tiny amount about one tenth percent

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Speaker 2: from the second woman. This is a change that is

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Speaker 2: then passed down the generations.

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Speaker 1: That's it the top five business stories you need to

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Speaker 1: know in just five minutes. Thank you Sean, Thank you Adam.

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Speaker 1: It's Friday, the eighteenth of July twenty twenty five. Remember

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Speaker 1: to hit follow on the podcast and if five minutes

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Speaker 1: isn't enough, then find our longer podcast called Fear and

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Speaker 1: Greed on your favorite podcast platform. I'm Adam Lang and

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Speaker 1: that was the fast by Fearing Greed. Have a great day,