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Speaker 1: It's Monday, the twenty first of July twenty twenty five.

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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 US 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, Sean.

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

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Speaker 1: Minister Anthony Alberzi and his Labor team head back to

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Speaker 1: Canberra this week with Federal Parliament sitting for the first

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Speaker 1: time since the early May election. The Federal Government's agenda

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Speaker 1: is packed, honestly, and given the huge majority in the

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Speaker 1: House of Representatives and the need for only Green support

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Speaker 1: in the Upper House, the Albanzi government has a golden

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Speaker 1: opportunity here to push through legislation and change.

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Speaker 2: It sure does. It is Australia's forty eighth parliament since

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Speaker 2: Federation Governor General Sam Mostin will open it tomorrow. The

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Speaker 2: Prime Minister Anthony Alberzi has nominated a twenty percent reduction

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Speaker 2: in hextet for students as his first piece of legislation

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Speaker 2: to pass. That means if you are about twenty seven

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Speaker 2: twenty eight thousand dollars you'll have about five and a

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Speaker 2: half thousand dollars lopped off that total. Labour's also likely

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Speaker 2: to move quickly on its controversial plan to increase the

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Speaker 2: tax on superannuation accounts with more than three million dollars,

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Speaker 2: including the taxation of unrealized gains. The only roadbock to

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Speaker 2: that one is that the Greens want the level reduced

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Speaker 2: to two million dollars. There'll also be new legislation covering

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Speaker 2: environmental laws, childcare, gender equality, disability care, and truth in

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Speaker 2: political advertising. Likely to be a bunch of legislation around

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Speaker 2: housing as the government tries to kick start one of

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Speaker 2: these soft spots in the economy. Parlament kicks off tomorrow

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Speaker 2: with both houses sitting. Though day one normally fairly procedural,

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Speaker 2: the battle gets serious on Wednesday.

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Speaker 1: It's also a big week, isn't it for Susan Lee,

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Speaker 1: the new head of the Liberal Party, who needs to

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Speaker 1: prove herself now having defeated Angus Taylor in a poll

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Speaker 1: for the top job.

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Speaker 2: But she's the first woman to lead the Liberal Party.

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Speaker 2: She's got quite the job, overseeing just forty three coalition members,

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Speaker 2: eighteen Liberal Party members, sixteen from the Liberal Party, Liberal

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Speaker 2: National Party of Queensland, nine from the NATS. The ALP

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Speaker 2: has ninety four members that we be ten Independence, one

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Speaker 2: each from Australian Center Alliance and Katter's Australian Party. Lee

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Speaker 2: needs to pull together an utterly defeated party. She's promised

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Speaker 2: not to be overly negative, but really her role isn't

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Speaker 2: even assured within the party. In the Senate, the ALP

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Speaker 2: will need the support of the Greens, which means that

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Speaker 2: party theoretically should have more power and it should make

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Speaker 2: it easier for the government to pass legislation.

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Speaker 1: Okay, moving on to story number two now and BHP's

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Speaker 1: share price jumped more than three percent last Friday on

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Speaker 1: the back of record copper and iron ore production, But

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Speaker 1: the news isn't so good for two other major products,

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Speaker 1: being potash and nickel.

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Speaker 2: So BHP's push into potash in Canada begain in twenty thirteen.

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Speaker 2: It was supposed to cost about five point seven billion US.

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Speaker 2: On Friday, the BHP said it will push out to

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Speaker 2: seven billion dollars. First production from the stage will be

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Speaker 2: twenty twenty seven, a year later than the most recent update.

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Speaker 2: BHP blames design and scope changes and inflation for the increases,

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Speaker 2: but it also said it might defer at stage two expansion.

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Speaker 2: Potash is a really big thing for BHP. It's one

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Speaker 2: of those future facing commodities that BHP's invested bigin. Nickel.

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Speaker 2: On the other hand, well, BHP's previously mothballed its nickel division.

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Speaker 2: It's now selling out of a mine a one point

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Speaker 2: four billion dollar nickel project in Tanzania.

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Speaker 1: Story number three. Crown Resorts Sean could be heading to Brisbane,

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Speaker 1: which is a market currently owned by the Star, with

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Speaker 1: the owners of Queen's Wharf precincton talks with the private

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Speaker 1: equity owned Crown about a takeover of casino operations.

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Speaker 2: Chow Tai Folk Enterprises and Far East Consortium each earned

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Speaker 2: twenty five percent of the Brisbane Hotel, casino and entertainmentertainment complex.

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Speaker 2: They're finalizing the purchase of Star Entertainment's fifty percent stake

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Speaker 2: in the business, and according to a story in the

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Speaker 2: fin Review, they want to replace Star as the precincts

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Speaker 2: casino operated by early next year. There is actually only

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Speaker 2: one other option in Australia, and this Crown Resorts.

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Speaker 1: Story number four. There was an uptick. It was more

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Speaker 1: than an uptick. Really it was. It was quite a

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Speaker 1: solid weekend form the number of house auctions held across

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Speaker 1: the country over the weekend. The preliminary clearance rate came

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Speaker 1: in at seventy four point four percent.

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Speaker 2: Second highest clear and straight this year, six weeks above

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Speaker 2: seventy percent. Now, Michael, you've been away. You probably didn't

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Speaker 2: know that. Very exciting news. Melbourne's on a tear with

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Speaker 2: a clear and straight of seventy six point seven percent,

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Speaker 2: the highest since May twenty twenty three. According to Totality,

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Speaker 2: the Victorian capitals relatively cheap. The median home price over

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Speaker 2: the last week nine thirty five thousand, well below Sydney

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Speaker 2: and Brisbane, about in line with Canberra. Canberra Sydney's median

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Speaker 2: price for auctions last week one point seventy five million dollars.

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Speaker 2: Its clear and straight came in at nearly seventy five percent.

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Speaker 2: Among the smaller capitals, Adelaide was a bit lower seventy

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Speaker 2: two percent, Brisbane picked up from recent weeks, finished at

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Speaker 2: sixty eight percent, and the Act at sixty six percent.

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Speaker 1: All right, last one story number five. Britain has moved

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Speaker 1: to lower the voting age by two years to sixteen

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Speaker 1: in all UK elections, which is a major overhaul of

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Speaker 1: the country's democratic system that immediately split opinion over whether

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Speaker 1: young people should or even would cast ballots.

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Speaker 2: The proposed changes were designed to boost participate, patient and

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Speaker 2: trust in the electoral system, which suffered its lowest turnout

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Speaker 2: last year since two thousand and one. Now voting isn't

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Speaker 2: compulsory in the UK, so we are very like the UK,

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Speaker 2: except on the compulsory voting part. It would align voting

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Speaker 2: across Britain, where younger voters can already participate in elections

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Speaker 2: to devolved parliaments in Scotland and Wales. According to Reuter's

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Speaker 2: Key Stama, the UK Prime Minister said, I, quote, they're

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Speaker 2: old enough to go out to work, they're old enough

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Speaker 2: to pay taxes. If you pay in you should have

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Speaker 2: the opportunity to say what you want your money spent

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Speaker 2: on which way the government should go end quote all right, there.

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Speaker 1: We go, the top five business stories in five minutes.

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Speaker 1: Thank you, Sean, Thank you very much.

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Speaker 2: Michael.

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Speaker 1: It is Monday, the twenty first of July twenty twenty five.

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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 fast five business news

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Speaker 1: by Fear and Greed. Have a great Dame,