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Speaker 1: It's Tuesday, the twenty ninth of October twenty twenty four.

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Speaker 1: Welcome 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.

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Speaker 2: Good morning, Michael Shawn.

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Speaker 1: Five stories, five minutes. Let's go a story number one.

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Speaker 1: The outcry around whether or not Prime Minister Anthony Albernezi

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Speaker 1: adequately reported flight upgrades from Quantus is intensifying, with claims

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Speaker 1: that he did not declare upgrades gifted to his former partner,

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Speaker 1: New South Wales politician Carmel Tebbett.

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Speaker 2: The AFR is reporting that between twenty nine and twenty thirteen,

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Speaker 2: the Prime Minister didn't declare upgrades from Ms Tebbitt. He's

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Speaker 2: also under five for seemingly having two plus ones his

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Speaker 2: son and now he's fiancee Jody Hayden. They've both seemingly

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Speaker 2: been his plus one at different times, giving them access

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Speaker 2: into the Chairman's Lounge, which is a very exclusive club

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Speaker 2: at Quantas. In a book to be launched this week,

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Speaker 2: former AFAR column Miss Joe Auston claims the Prime Minister

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Speaker 2: Liaise directly with Quantus's former CEO, Alan Joyce about travel upgrades.

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Speaker 2: The book says the Prime Minister receives at least twenty

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Speaker 2: two fight upgrades worth tens of thousands of dollars. Opposition

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Speaker 2: is carefully attacking on this one. Opposition Leader Peter Dutton

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Speaker 2: said he never contacted Alan Joyce about upgrades, but he

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Speaker 2: did say he'd received about fifteen complimentary upgrades since joining

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Speaker 2: Parliament about twenty three years ago. One of those people

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Speaker 2: in glasshouses don't like throwing stones too hard.

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Speaker 1: Sean, do we really care about this? Really?

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Speaker 2: I don't like the idea of the Prime Minister ringing

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Speaker 2: the head of Quantas and ask me for an upgrade

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Speaker 2: if that's what's happened, and is it right for this

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Speaker 2: to happen when he was Transport Minister. I think it

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Speaker 2: just smells bad. The big picture in this is the

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Speaker 2: Prime Minister's judgment. Remember a few weeks back it was

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Speaker 2: he didn't announce it, but it was found out that

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Speaker 2: he and Jodi Hayden, his partner, bought a four point

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Speaker 2: three million dollar beach house in the central coast of

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Speaker 2: New South Wales amid the housing crisis. It's just a

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Speaker 2: bad look.

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Speaker 1: Indeed, it is all right. Under story number two, Western

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Speaker 1: Australia is the country's top state, at least in terms

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Speaker 1: of the economy, while New South Wales Sean is last.

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Speaker 2: It's the last state, the second last of the states

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Speaker 2: and territories, Northern territories actually worse off. According to the

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Speaker 2: com Sexts State of the State's Report. The good news

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Speaker 2: Western Australia is first, then South Australia, Queensland, Victoria, Tasmani,

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Speaker 2: the ACT and New South Wales and the Northern territory

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Speaker 2: rankings are based on a bunch of economic indicators, things

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Speaker 2: like growth, retail spending, equipment investment, unemployment, work, population growth,

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Speaker 2: housing finance. Put them all together, they come up with list.

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Speaker 2: Western Australia is winning in retail spending, relative unemployment and

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Speaker 2: relative population growth. New South Wales is considered rate sensitive

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Speaker 2: due to house prices that drags it down. In Victoria,

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Speaker 2: building activity in negative real wage growth is weighing that

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Speaker 2: state down.

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Speaker 1: Sean. You mentioned house prices leads us very neatly into

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Speaker 1: story number three. House price growth is slowing across the country,

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Speaker 1: although the median price of homes in Perth, Brisbane, Adelaide

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Speaker 1: and Sydney are at record highs.

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Speaker 2: That's according to the September quarter Domain House Price Report.

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Speaker 2: The median price in Sydney is now one point seven

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Speaker 2: million dollars, a lot of money, Cameras one point one million,

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Speaker 2: Melbourne one million, Brisbane and Adelaide just under one million.

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Speaker 2: Perth is the fastest growing in terms of prices, up

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Speaker 2: twenty five per cent last year, but the median price

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Speaker 2: is now under nine hundred thousand dollars. So while it's

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Speaker 2: going fast, median house prices still remain relatively low compared

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Speaker 2: to Brisbane, Adelaide, Melbourne and Sydney. How about it's medium

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Speaker 2: price just over seven hundred thousand. Darwin comes in under

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Speaker 2: six hundred thousand. Same deal for cities as sorry, same

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Speaker 2: deals for units as it is for houses. Brisbane and Adelaide.

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Speaker 2: Unit prices, though are relatively more expensive compared to house prices.

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Speaker 2: Reasons for deceleration and growth affordability constraints, wages not keeping

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Speaker 2: paced with rising property prices, and of course, the cost

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Speaker 2: of living crisis.

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Speaker 1: Story number four. Mosaic brands whose shops include some kind

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Speaker 1: of household names like Katie's and Miller's nony b and

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Speaker 1: Autograph has been placed into voluntary administration.

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Speaker 2: Directors have been trying to trade through a very tough period.

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Speaker 2: They've been trying to restructure, rationalize the brands and the stores,

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Speaker 2: focus on the key brands. They've been unsuccessful. The company

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Speaker 2: has appointed administrator and will trade through the Christmas season. Basically,

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Speaker 2: Mosaic's an interesting company. It's got a huge amount of supplies,

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Speaker 2: more than one hundred supplies. A couple of Chinese supplies

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Speaker 2: have alleged on social media that Mosaic hasn't paid for

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Speaker 2: products delivered. We're going to hear a lot more about

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Speaker 2: this one.

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Speaker 1: Yeah, we will, okay, Story number five our last one.

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Speaker 1: It is full steam ahead, sean for the US presidential

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Speaker 1: hopefuls Donald Trump and Karmala Harris, with poles getting even

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Speaker 1: closer ahead of next Tuesday's election.

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Speaker 2: In the last twenty four hours, Donald Trump was at

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Speaker 2: Madison Square Garden in New York. He was joined by

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Speaker 2: Hulk Hogan, Millennia, his wife, UFC Boss darn And White,

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Speaker 2: and Elon Musk. Trump derided Carmela Harris and called for

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Speaker 2: voters to make America great again. Worst moment was when

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Speaker 2: a comedian at the rally made a particularly offensive comment

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Speaker 2: about Puerto Rico, basically called it a floating island of garbage.

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Speaker 2: The Democrats and Carmela Harris were in Philadelphia, Pennsylvania. She

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Speaker 2: called Trump unhinged and unstable. Ain't much policy pushing at

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Speaker 2: the moment in this campaign, Michael.

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Speaker 1: It doesn't seem that way, Sean, And there's not long

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

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Speaker 1: business stories in five minutes. Thank you very much, Thanks Michael.

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Speaker 1: It is Tuesday, the twenty ninth of October twenty twenty four.

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

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Speaker 1: minutes isn't enough, you can find our longer daily show

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Speaker 1: called Fear and Greed wherever you listen to podcasts. I'm

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Speaker 1: Michael Thompson and that was the past five business news

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