1 00:00:03,840 --> 00:00:06,840 Speaker 1: It's Tuesday, the twenty ninth of July twenty twenty five. 2 00:00:06,960 --> 00:00:09,760 Speaker 1: Welcome to the Fast five Business News by Fear and Greed, 3 00:00:09,760 --> 00:00:11,680 Speaker 1: where we give you the top five business stories you 4 00:00:11,720 --> 00:00:14,160 Speaker 1: need to know in just five minutes. Are Michael Thompson 5 00:00:14,200 --> 00:00:15,480 Speaker 1: and Good morning, Sean. 6 00:00:15,280 --> 00:00:17,320 Speaker 2: Aylmer, Good morning, Michael Shawn. 7 00:00:17,400 --> 00:00:19,680 Speaker 1: Five stories, five minutes, Let's go sorry. Number one is 8 00:00:19,720 --> 00:00:22,759 Speaker 1: a big one and it is all about Canbro, where 9 00:00:22,800 --> 00:00:26,720 Speaker 1: climate change is causing a few headaches, especially for the opposition, 10 00:00:26,840 --> 00:00:30,360 Speaker 1: with a private members bill brought by former Nationals leader 11 00:00:30,400 --> 00:00:34,159 Speaker 1: Barnaby Joyce being introduced calling for the government to basically 12 00:00:34,240 --> 00:00:38,000 Speaker 1: drop a mission's targets. Meanwhile, Opposition leader Susan Lee is 13 00:00:38,040 --> 00:00:41,240 Speaker 1: being hounded about the Liberals policy and the United Nations 14 00:00:41,320 --> 00:00:44,280 Speaker 1: Chief Scientists is actually calling on the Prime Minister Anthony 15 00:00:44,320 --> 00:00:45,800 Speaker 1: Albineasy to go harder. 16 00:00:46,720 --> 00:00:49,040 Speaker 2: Michael, I reckon, that's the whole five minutes up there 17 00:00:49,040 --> 00:00:49,400 Speaker 2: and there. 18 00:00:50,400 --> 00:00:52,680 Speaker 1: It's fairly comprehensive, wasn't it certainly is. 19 00:00:52,720 --> 00:00:55,720 Speaker 2: Former Nationals leader Barnaby Joyce yesterday introduced a private members 20 00:00:55,760 --> 00:00:58,720 Speaker 2: bill calling for the repeal of the zero goal. He said, 21 00:00:58,720 --> 00:01:00,880 Speaker 2: there's got to be an epiphany the net zero commitment, 22 00:01:00,920 --> 00:01:04,400 Speaker 2: saying the policy is damaging agriculture and manufacturing. Also admitted 23 00:01:04,440 --> 00:01:06,039 Speaker 2: that maybe it was cowardly of him not to have 24 00:01:06,120 --> 00:01:09,040 Speaker 2: campaigned against the commitment when he was in cabinet. Meanwhile, 25 00:01:09,120 --> 00:01:13,119 Speaker 2: National's leader Today's leader, David little Proud said a review 26 00:01:13,120 --> 00:01:15,759 Speaker 2: of net zero may see the Nationals drop it from 27 00:01:15,760 --> 00:01:20,920 Speaker 2: its policy platform. Meanwhile, you when Climate Chief Simon Steele 28 00:01:21,000 --> 00:01:23,120 Speaker 2: is in Sydney, he called on the alban Ezy government 29 00:01:23,680 --> 00:01:26,720 Speaker 2: to not settle for what's easy when designing a twenty 30 00:01:26,800 --> 00:01:30,319 Speaker 2: thirty five emissions reduction target. He has pushed them to 31 00:01:30,319 --> 00:01:31,920 Speaker 2: do a lot more. He said, how far are you 32 00:01:31,920 --> 00:01:34,320 Speaker 2: willing to go? This isn't just the next policy mole stone, 33 00:01:34,319 --> 00:01:37,520 Speaker 2: It's a defining moments. Don't settle for what's easy. Half 34 00:01:37,560 --> 00:01:41,200 Speaker 2: measures will destroy property and infrastructure, hammer households, bankrupt regions 35 00:01:41,400 --> 00:01:46,600 Speaker 2: and punch holes in public budgets. Climate change is back 36 00:01:46,760 --> 00:01:48,440 Speaker 2: causing headaches for political parties. 37 00:01:48,680 --> 00:01:51,960 Speaker 1: Yeah, certainly is, and just quickly. The Liberals are also 38 00:01:52,000 --> 00:01:56,080 Speaker 1: having other problems as well, with backbencher Sarah Henderson suggesting 39 00:01:56,080 --> 00:01:59,280 Speaker 1: the government's proposed sixteen billion dollar student debt relief should 40 00:01:59,320 --> 00:01:59,880 Speaker 1: be indexed. 41 00:02:00,160 --> 00:02:03,400 Speaker 2: Yes, so, Leader Susan Lee had to intervene and play 42 00:02:03,440 --> 00:02:05,880 Speaker 2: down the proposal. She said the party room hadn't reached 43 00:02:05,880 --> 00:02:08,480 Speaker 2: a position on whether it would support the legislation. She 44 00:02:08,520 --> 00:02:11,000 Speaker 2: was also asked about images of starving people in Gaza, 45 00:02:11,280 --> 00:02:14,120 Speaker 2: another very hot issue for the Conservators. She said she 46 00:02:14,160 --> 00:02:16,680 Speaker 2: found the pictures incredibly distressing. 47 00:02:16,720 --> 00:02:21,600 Speaker 1: Michael Yeah Okay. Story number two. Sean Western Australia is 48 00:02:21,639 --> 00:02:25,360 Speaker 1: the top performing state in economic terms, followed by South 49 00:02:25,360 --> 00:02:28,280 Speaker 1: Australia and Queensland. This is all according to com Sex 50 00:02:28,440 --> 00:02:29,639 Speaker 1: State to the State's Report. 51 00:02:29,760 --> 00:02:32,760 Speaker 2: The report determines which Australian state or territory economy is 52 00:02:32,800 --> 00:02:36,160 Speaker 2: performing best at tracks a bunch of economic indicators. WA's 53 00:02:36,240 --> 00:02:39,079 Speaker 2: number one. It's leading around retail, trade, housing, finance and 54 00:02:39,120 --> 00:02:41,960 Speaker 2: business investment. South Australia is coming in at number two. 55 00:02:42,120 --> 00:02:45,079 Speaker 2: It's doing particularly well in construction work and dwelling starts. 56 00:02:45,400 --> 00:02:48,840 Speaker 2: Sounds good for the building industry in South Australia. Victoria 57 00:02:48,919 --> 00:02:52,640 Speaker 2: dropped from two to four, held back by weakness in unemployment. 58 00:02:52,840 --> 00:02:56,720 Speaker 2: Relatively still doing AKA Tasmania five, New South Wales and 59 00:02:56,760 --> 00:03:00,160 Speaker 2: the Act six. The reason that New South Wales is 60 00:03:00,200 --> 00:03:02,840 Speaker 2: down the list is that most of the not most, 61 00:03:02,840 --> 00:03:04,640 Speaker 2: but a lot of spinning is still going on from 62 00:03:04,680 --> 00:03:07,360 Speaker 2: the government rather than the private sector that works against it. 63 00:03:07,400 --> 00:03:08,919 Speaker 2: Northern Territory came in at number eight. 64 00:03:09,360 --> 00:03:13,480 Speaker 1: Story number three. Global pharmaceutical giants, including Pfizer and Johnson 65 00:03:13,520 --> 00:03:15,960 Speaker 1: and Johnson are paying a tiny fraction of the billions 66 00:03:16,000 --> 00:03:18,359 Speaker 1: of dollars that they earned from drug sales in local 67 00:03:18,440 --> 00:03:20,720 Speaker 1: taxes and now this is happening just as they lobby 68 00:03:20,800 --> 00:03:24,080 Speaker 1: US President Donald Trump to force an overhaul of Australia's 69 00:03:24,080 --> 00:03:25,799 Speaker 1: pharmaceutical benefit scheme. 70 00:03:25,720 --> 00:03:28,760 Speaker 2: And analysis learning statements filed at the Corporate Regulator by 71 00:03:28,800 --> 00:03:31,400 Speaker 2: five of the biggest international drug makers show the companies 72 00:03:31,400 --> 00:03:34,000 Speaker 2: and average paid between two and four percent of their 73 00:03:34,000 --> 00:03:38,200 Speaker 2: Australian sales in income tax. According to report The fin Review, 74 00:03:38,560 --> 00:03:41,800 Speaker 2: vaccine maker Pfizer paid forty three point five million dollars 75 00:03:41,840 --> 00:03:45,360 Speaker 2: on one point one million dollars in sales, Johnson and 76 00:03:45,440 --> 00:03:47,800 Speaker 2: Johnson twenty seven million dollars on one point four to 77 00:03:47,920 --> 00:03:51,680 Speaker 2: six million one point four six billion for last year. 78 00:03:52,080 --> 00:03:55,040 Speaker 2: Weight loss drug company Eli Lilly four hundred and sixty 79 00:03:55,080 --> 00:03:59,200 Speaker 2: two million in sales income tax payments just five million. 80 00:04:00,280 --> 00:04:03,320 Speaker 2: Maker of a Zempi, Novo nor Disk British Swedish multinational 81 00:04:03,320 --> 00:04:06,720 Speaker 2: Astrozenka all the same, they aren't doing anything wrong, but 82 00:04:06,760 --> 00:04:09,200 Speaker 2: the amount of tax a pain in Australia will come 83 00:04:09,280 --> 00:04:12,920 Speaker 2: under scrutiny because of their criticism the drug company's criticism 84 00:04:13,000 --> 00:04:16,040 Speaker 2: of the fin Phaceutical Benefit Scheme, which of course has 85 00:04:16,040 --> 00:04:18,200 Speaker 2: been linked to Donald Trump's trade tariffs. 86 00:04:18,640 --> 00:04:23,480 Speaker 1: Story number four Hollow World Travel jumped fourteen percent yesterday 87 00:04:23,560 --> 00:04:27,440 Speaker 1: after it upgraded its full year earnings guidance despite softer 88 00:04:27,560 --> 00:04:29,680 Speaker 1: booking volumes. There's a little bit in this and there's 89 00:04:29,680 --> 00:04:30,520 Speaker 1: some good news. 90 00:04:30,360 --> 00:04:33,960 Speaker 2: Right there is so basically it's doing better on cost control, 91 00:04:34,600 --> 00:04:36,200 Speaker 2: but what it said is that the big jump in 92 00:04:36,240 --> 00:04:39,680 Speaker 2: demand for cruisers. It's also doing better in its B 93 00:04:39,760 --> 00:04:43,280 Speaker 2: to b accommodation business that's called ready rooms and forward 94 00:04:43,279 --> 00:04:48,440 Speaker 2: bookings are really strong. Also, there are slightly fewer customers, 95 00:04:48,800 --> 00:04:52,040 Speaker 2: but there's a shift away from expensive long haul travel 96 00:04:52,240 --> 00:04:57,160 Speaker 2: to cheaper trips to midhall destinations. So Japan, Balley, Thailand, Fiji, 97 00:04:57,720 --> 00:04:59,800 Speaker 2: that's where they're going, along with cruises. That's where we're 98 00:04:59,800 --> 00:05:02,800 Speaker 2: going along with cruises. The good news the lower average airfares, 99 00:05:02,920 --> 00:05:05,719 Speaker 2: especially in the premium caverns, has fallen somewhat. 100 00:05:05,880 --> 00:05:08,880 Speaker 1: Last one Story number five, wise Tech Global has appointed 101 00:05:08,920 --> 00:05:12,160 Speaker 1: a close associate of founder Richard White as chief executive, 102 00:05:12,600 --> 00:05:16,160 Speaker 1: immediately triggering corporate governance concerns among shareholders. 103 00:05:16,440 --> 00:05:20,280 Speaker 2: Zubin Arpu has been appointed permanent chief executive. He worked 104 00:05:20,279 --> 00:05:23,279 Speaker 2: for Weiss Tech for fifteen years until twenty eighteen, hired 105 00:05:23,320 --> 00:05:25,719 Speaker 2: again in April this year as White's chief of staff. 106 00:05:25,720 --> 00:05:29,680 Speaker 2: That decision furthered an extensive internal and external search after 107 00:05:29,760 --> 00:05:31,760 Speaker 2: Richard White stepped back last year, but then was made 108 00:05:31,800 --> 00:05:35,080 Speaker 2: executive chair earlier this year. Wis Tech's in the middle 109 00:05:35,200 --> 00:05:38,920 Speaker 2: of a corporate governance battle, with few independent directors left. 110 00:05:39,080 --> 00:05:42,760 Speaker 2: Big investors are already questioning governance of the software group. White 111 00:05:42,839 --> 00:05:46,360 Speaker 2: remains a dominant force, notwithstanding payments to former employees over 112 00:05:46,400 --> 00:05:48,839 Speaker 2: his personal relationships with them over the past two months 113 00:05:48,920 --> 00:05:51,359 Speaker 2: or so. Having said all that, Wiseex share price is 114 00:05:51,360 --> 00:05:53,360 Speaker 2: still eleven percent below its peak of earlier this year, 115 00:05:53,360 --> 00:05:56,400 Speaker 2: but it has been climbing steadily for about three months now. 116 00:05:56,560 --> 00:05:58,680 Speaker 1: Okay, there we go the top five business stories in 117 00:05:58,720 --> 00:06:01,520 Speaker 1: five minutes. Thank you Sean, Thank you Michael. It is Tuesday, 118 00:06:01,600 --> 00:06:04,120 Speaker 1: the twenty ninth of July twenty twenty five. Remember to 119 00:06:04,160 --> 00:06:06,840 Speaker 1: hit follow on the podcast and if five minutes isn't enough. 120 00:06:06,880 --> 00:06:08,880 Speaker 1: You can find our longer daily show called Fear and 121 00:06:09,040 --> 00:06:12,080 Speaker 1: Greed wherever you listen to podcasts. I'm Michael Thompson and 122 00:06:12,120 --> 00:06:14,400 Speaker 1: that was the Fast five Business news by Fear and Greed. 123 00:06:14,760 --> 00:06:15,480 Speaker 1: Had a great day.