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Speaker 1: It's Tuesday, the twenty seventh of May twenty twenty five.

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Speaker 1: Welcome to the Fast five Business News by Fear and Agreed,

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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 when just five minutes are Michael Thompson

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Speaker 1: and Good morning Sean Ale.

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Speaker 2: Good morning Michael.

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Speaker 1: Sean five stories, five minutes. Let's go a story. Number

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Speaker 1: one households face power bill increases of up to ten

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Speaker 1: percent after electricity costs rose faster than anticipated in parts

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Speaker 1: of the country.

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Speaker 2: The Australian Energy Regulator sets safety net prices known as

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Speaker 2: a default market offer as part of its sending review.

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Speaker 2: While the ruling applies to just ten percent of customers,

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Speaker 2: it kind of sets the benchmark. Yesterday blamed upcoming increases

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Speaker 2: in electricity prices on the cost of producing energy, which

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Speaker 2: varies based on how it's generated in different parts of

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Speaker 2: the country. Chair Clear Savage said there had been cost

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Speaker 2: pressures and almost all components of the electricity supply chain,

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Speaker 2: with network costs rising between one and eleven per cent

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Speaker 2: and retail costs going up between eight and thirty five percent.

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Speaker 2: The regulator said New South Wales customers could end up

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Speaker 2: paying up to ten percent more South Australian Queensland more

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Speaker 2: likely around four percent.

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Speaker 1: Is there any relief ahead? Sean. It seems like inflation

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Speaker 1: in most other sectors has slowed, but not apparently in

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Speaker 1: energy costs.

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Speaker 2: The problem in Australia is that this sector is spending

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Speaker 2: tens of billions of dollars on transmission infrastructure and the

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Speaker 2: cost of that is blowing out. In fact, the Australian

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Speaker 2: Energy Market Operators says the cost of overhead transmission line

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Speaker 2: projects have jumped fifty five percent. That needs to be funded.

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Speaker 2: I guess is going to fund it. We consumers, as

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Speaker 2: much as we want to complain, it is part of

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Speaker 2: the cost of transitioning to greener energy. We have a

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Speaker 2: bunch of aging coal fire power stations coming to the

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Speaker 2: end of their life. They're being replaced with wind and solar,

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Speaker 2: among other things. That takes plenty of investing in poles

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Speaker 2: and wire infrastructure. Our PA's target is to have eighty

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Speaker 2: two percent renewable energy by twenty thirty and this is

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Speaker 2: the cost of that.

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Speaker 1: Staring number two Sean Prime Minister Anthony Albernezi has popped

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Speaker 1: up back at home now following nearly a fortnite overseas

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Speaker 1: and criticizing Israel and defending the government's green credentials.

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Speaker 2: Yes he criticized Israel for its partial blockade of Gaza

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Speaker 2: that has left thousands of people on the brink of starvation,

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Speaker 2: revealing he personally protested to Israeli President Isaac Herzog earlyer

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Speaker 2: this month. Alberizi said the net Nyahu government's excuses for

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Speaker 2: denying the entry of food and essential supplies were completely

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Speaker 2: untenable and without credibility. Also yesterday, he suggested that a

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Speaker 2: potential approval of Woodside Northwest Shelf massive gas project wouldn't

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Speaker 2: inhibit Australia's efforts to combat climate change. New Environment Minister

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Speaker 2: Murray what is set to decide this week whether to

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Speaker 2: approve the contentious proposal. Alberizi was speaking from the National

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Speaker 2: Emergency Manage Management Agency Situation Room in Canberra, where he

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Speaker 2: was inspecting the management of the New South Wales Mid

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Speaker 2: North Coast flood recovery efforts. He's very, very busy last

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Speaker 2: two weeks, just not in Australia. He's been visited Indonesia.

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Speaker 2: He went to the inauguration of Pope Leo the fourteenth,

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Speaker 2: and he also visited Singapore's Prime Minister Lawrence Wong.

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Speaker 1: Story Number three health Scopes thirty seven private hospitals will

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Speaker 1: continue to operate after the beleaguered group's bankers Westpac and

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Speaker 1: Comwealth Bank agreed to provide funds basically to keep the

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Speaker 1: medical facilities open.

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Speaker 2: Receivers have been called in to sell the business, which

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Speaker 2: includes the relatively new Northern Beaches Hospital in Sydney's north Shore.

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Speaker 2: The group has thirteen facilities in Victoria, twelve in New

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Speaker 2: South Wales, five and Queensland. Four In South Australia, a

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Speaker 2: syndicate of banks and hedge funds that control one point

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Speaker 2: six billion dollars in debt voted to put the company

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Speaker 2: into receivership after being handed controlled by its previous owner,

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Speaker 2: Canadian asset management giant Brookfield earlier this month. Mcgrar nickel

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Speaker 2: Restructuring was appointed as a receiver and will face considerable

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Speaker 2: pressure from governments that one will avoid the closure of

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Speaker 2: private hospitals at a time when the public system is

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Speaker 2: under significant strain. Federal Health Minister Mark Butler yesterday said

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Speaker 2: the hospitals will continue to operate throughout the sale process.

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Speaker 1: As storing Number four meat prices Sean are set to

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Speaker 1: rise this year as drought conditions in parts of the

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Speaker 1: country reduced livestock herds, just as overseas demands increasing.

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Speaker 2: Elders said the drought in southern Australia had resulted in

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Speaker 2: a hit to earnings in the six months to March

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Speaker 2: thirty one, although higher cattle and sheep prices have helped

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Speaker 2: deliver a rebound in profit compared to twelve months ago.

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Speaker 2: Elder's worn that there's a potential for cattle and sheep

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Speaker 2: sale year prices to rise in the final six months

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Speaker 2: of this year. So we've had problems on the supply side.

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Speaker 2: On the demand side, exports to Japan and South Korea

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Speaker 2: are particularly strong. Put that all together, you're going to

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Speaker 2: end up with higher prices. Ella has reported a half

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Speaker 2: yarn net profit of thirty four million dollars, slightly below

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Speaker 2: expectations that pushed its share price down six and a

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Speaker 2: half percent yesterday.

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Speaker 1: Last one story number five, Tom Cruise's Mission Impossible has

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Speaker 1: garnered much of the media attention, of course, but it's

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Speaker 1: actually Disney's live action Lelo and Stitch remake that made

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Speaker 1: all the money, taking in one hundred and forty six

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Speaker 1: million US over the Memorial Day long weekend in the States.

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Speaker 2: Good weekend for theaters all up. In fact, the top

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Speaker 2: six flicks over the Memorial Day weekend, actually that's just

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Speaker 2: the Saturday and Sunday took in two hundred and fifty

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Speaker 2: two million dollars in North America. It was about one

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Speaker 2: hundred and sixty million twelve months ago. It looks like

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Speaker 2: theaters of back. Michael Disney said, Lelo and Stitch, which

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Speaker 2: cost about one hundred million to make, not including marketing expenses,

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Speaker 2: was on track to sell one hundred and eighty three

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Speaker 2: million dollars in tickets at domestic theaters Friday through Monday.

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Speaker 2: Tom Cruise's nearly three hour Mission Impossible The Final Reckoning

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Speaker 2: came in second place seventy seven million dollars over the

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Speaker 2: long weekend. It's the eighth and final installment of the

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Speaker 2: Mission Impossible series, and worldwide it's expected to take about

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Speaker 2: two hundred million in its first three days. Needs to

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Speaker 2: make money, though, as a result of the twenty twenty

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Speaker 2: three strikes in Hollywood and the huge number of stunts,

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Speaker 2: Final Reckoning cost roughly half eight billion dollars to make

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Speaker 2: and market. According to The New York Times, all.

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Speaker 1: Right there we go the top five business stories in

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Speaker 1: five minutes. Thank you Sean, Thank you Michael. It is Tuesday,

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Speaker 1: the twenty seventh of May twenty twenty five. Remember to

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Speaker 1: hit follow on the podcast and five minutes isn't enough.

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Speaker 1: We can find our longer daily show called Fear and

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Speaker 1: Greed where if you listen to podcasts. Oh Michael Thompson

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Speaker 1: And that was the fast five business news by Fear

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Speaker 1: and Greed. Right die,