1 00:00:03,840 --> 00:00:06,600 Speaker 1: It's Wednesday, the twenty third of April twenty twenty five. 2 00:00:06,680 --> 00:00:09,480 Speaker 1: Welcome to the Fast five Business News by Fear and Greed, 3 00:00:09,480 --> 00:00:11,560 Speaker 1: where we give you the top five business stories you 4 00:00:11,600 --> 00:00:14,040 Speaker 1: need to know in just five minutes. I'm Michael Thompson 5 00:00:14,080 --> 00:00:15,440 Speaker 1: and good morning Sean Aylmer. 6 00:00:15,760 --> 00:00:17,320 Speaker 2: Good morning, Michael Shawn. 7 00:00:17,400 --> 00:00:19,919 Speaker 1: Five stories, five minutes. Let's go a story number one. 8 00:00:20,000 --> 00:00:22,919 Speaker 1: Anthony Alberanzi and Peter Dutton held the third debate of 9 00:00:22,960 --> 00:00:25,480 Speaker 1: the election campaign last night, with neither really landing a 10 00:00:25,560 --> 00:00:28,360 Speaker 1: knockout blow. But you've got to say the debate was 11 00:00:28,400 --> 00:00:31,280 Speaker 1: the most vigorous of the three so far, with a 12 00:00:31,440 --> 00:00:34,160 Speaker 1: much improved performance by the opposition leader. 13 00:00:34,360 --> 00:00:36,360 Speaker 2: I agree with that the debate was again focused on 14 00:00:36,440 --> 00:00:38,960 Speaker 2: the cost of living crisis. The Prime Minister focused very 15 00:00:39,000 --> 00:00:41,760 Speaker 2: much on health, at least initially, the opposition leader on 16 00:00:41,960 --> 00:00:45,480 Speaker 2: energy costs. On nuclear Peter Dunton did a much better 17 00:00:45,560 --> 00:00:48,920 Speaker 2: job explaining its benefits that he has really since the 18 00:00:48,960 --> 00:00:52,440 Speaker 2: campaign started, although ol Anthony Abernezi did do a decent 19 00:00:52,520 --> 00:00:55,400 Speaker 2: job shooting that down. A lot of talking international relations, 20 00:00:55,400 --> 00:00:59,240 Speaker 2: particularly how each would deal with the US. China got 21 00:00:59,240 --> 00:01:01,440 Speaker 2: a good run bit on law and order, a fair 22 00:01:01,480 --> 00:01:04,160 Speaker 2: bit on the economy. That mostly was about budgets, spending, 23 00:01:04,240 --> 00:01:08,600 Speaker 2: revenue deficits, that type of stuff. Stuff. Asked about the 24 00:01:08,600 --> 00:01:12,160 Speaker 2: biggest line in the campaign, Dunton nominated the six hundred 25 00:01:12,319 --> 00:01:16,600 Speaker 2: billion dollar cost of nuclear that labor always quotes, saying 26 00:01:16,720 --> 00:01:19,240 Speaker 2: that it's actually the cost of nucleus about one hundred 27 00:01:19,240 --> 00:01:22,440 Speaker 2: and twenty billion dollars. Albanizey was asked about the biggest lie. 28 00:01:22,440 --> 00:01:24,760 Speaker 2: I didn't really answer. Talked about healthcare or something I 29 00:01:24,800 --> 00:01:26,840 Speaker 2: think if I had. The Prime ministers spent quite a 30 00:01:26,920 --> 00:01:28,840 Speaker 2: bit of time last night talking about stuff that wasn't 31 00:01:28,880 --> 00:01:31,560 Speaker 2: in the question. He asked about rising insurance costs, he 32 00:01:31,600 --> 00:01:35,080 Speaker 2: started talking about fee free tap, asked about airbnb, They 33 00:01:35,120 --> 00:01:37,000 Speaker 2: got a lecture on immigration Sean. 34 00:01:37,040 --> 00:01:39,000 Speaker 1: What really kind of stood out to me was that 35 00:01:39,000 --> 00:01:40,880 Speaker 1: there are a bunch of issues that we didn't hear 36 00:01:40,959 --> 00:01:43,880 Speaker 1: much about last night, and we haven't actually heard much 37 00:01:43,880 --> 00:01:45,800 Speaker 1: about them at all throughout the campaign. 38 00:01:46,200 --> 00:01:49,440 Speaker 2: The bush, rural Australia's small business doesn't mention it last night, 39 00:01:49,520 --> 00:01:52,480 Speaker 2: but not much education a bit around tape last night. 40 00:01:52,600 --> 00:01:55,360 Speaker 2: Again not a lot. Haven't heard a huge amount about 41 00:01:55,400 --> 00:01:59,200 Speaker 2: the environment and pensioners, not just age care workers, but 42 00:01:59,320 --> 00:02:03,840 Speaker 2: actually the aged Australians asked if he was too stony. 43 00:02:03,920 --> 00:02:06,440 Speaker 2: Peter Dunton said he is serious in public life because 44 00:02:06,440 --> 00:02:09,640 Speaker 2: he deals with serious matters. Anthony Albaneze he was asked 45 00:02:09,639 --> 00:02:12,200 Speaker 2: whether he was too wishy washy. He said kindness isn't 46 00:02:12,320 --> 00:02:15,160 Speaker 2: a weakness. He said he's capable of making tough decisions. 47 00:02:15,560 --> 00:02:17,399 Speaker 2: We also get I mean, I also got the sense 48 00:02:17,480 --> 00:02:19,560 Speaker 2: last night, Michael that the two don't mind each other. 49 00:02:20,160 --> 00:02:23,320 Speaker 2: I reckon if Anthony ABERANEZEI won the first two. Peter 50 00:02:23,520 --> 00:02:26,799 Speaker 2: Dunne at least drew perhaps a bit better last night. 51 00:02:26,919 --> 00:02:28,240 Speaker 2: Personal opinion only. 52 00:02:28,400 --> 00:02:31,360 Speaker 1: Onto story number two. Now, Sean and mcquarie is selling 53 00:02:31,440 --> 00:02:34,720 Speaker 1: out of its entire North American and European public asset 54 00:02:34,800 --> 00:02:38,000 Speaker 1: management business, a business that oversees two hundred and eighty 55 00:02:38,040 --> 00:02:39,639 Speaker 1: five billion dollars in assets. 56 00:02:39,680 --> 00:02:41,680 Speaker 2: It's a reversal of a strategy that's been in place 57 00:02:41,720 --> 00:02:44,839 Speaker 2: for fifteen years. Mcquari will offload its international equities, fixed 58 00:02:44,880 --> 00:02:48,079 Speaker 2: income and multi asset investments business to Japan's Namura for 59 00:02:48,320 --> 00:02:50,840 Speaker 2: two point eight billion dollars. A divisions known as McQuary 60 00:02:50,840 --> 00:02:54,600 Speaker 2: Asset Management that will continue to operate in Australia public 61 00:02:54,680 --> 00:02:57,560 Speaker 2: market investments have changed a lot. They're now dominated by 62 00:02:57,639 --> 00:03:00,639 Speaker 2: very large, low fee funds such as black Rock and Vanguard. 63 00:03:00,919 --> 00:03:04,880 Speaker 2: They tend to passively invest rather than stockpick. Active fund 64 00:03:04,880 --> 00:03:07,960 Speaker 2: management in public markets in North American Europe at least 65 00:03:08,560 --> 00:03:11,960 Speaker 2: aren't providing the returns Macquarie once. Instead, it will probably 66 00:03:11,960 --> 00:03:15,840 Speaker 2: push more of those resources and finance is into private 67 00:03:16,200 --> 00:03:20,040 Speaker 2: market investing things like real estate infrastructure. That type of thing. 68 00:03:20,240 --> 00:03:24,280 Speaker 1: Storry Number three Chinese e commerce groups. She has recorded 69 00:03:24,400 --> 00:03:27,399 Speaker 1: annual sales of more than one billion dollars in Australia 70 00:03:27,440 --> 00:03:30,400 Speaker 1: for the first time, as the rise in popularity of 71 00:03:30,560 --> 00:03:33,799 Speaker 1: ultra cheap clothing turns the Chinese fast fashioned giant into 72 00:03:33,840 --> 00:03:35,360 Speaker 1: one of the country's biggest retailers. 73 00:03:35,440 --> 00:03:39,119 Speaker 2: The emergence of Sheen and its biggest global competitor, Temu 74 00:03:39,240 --> 00:03:42,680 Speaker 2: has hurt local retailers. She and Timu and their more 75 00:03:42,760 --> 00:03:45,800 Speaker 2: established rival Amazon sell everything from toys and clothes to 76 00:03:45,880 --> 00:03:49,120 Speaker 2: smartphones and electronics. She and began selling Australia in twenty 77 00:03:49,240 --> 00:03:52,800 Speaker 2: twenty two, and newly foiled accounts show sales rose to 78 00:03:52,880 --> 00:03:55,240 Speaker 2: one point two to three billion dollars in the twelve 79 00:03:55,280 --> 00:03:56,920 Speaker 2: months at the end of last year. According to the 80 00:03:56,920 --> 00:04:00,840 Speaker 2: fin Review, Profits were about fifteen million dollars. The one 81 00:04:00,840 --> 00:04:02,680 Speaker 2: point two to three billion in sales compares to a 82 00:04:02,760 --> 00:04:06,000 Speaker 2: round or to around revenues of seven hundred million dollars 83 00:04:06,000 --> 00:04:08,640 Speaker 2: for La Visa, one of the largest fast fashioned jewelry 84 00:04:08,640 --> 00:04:11,240 Speaker 2: businesses in the country, and one point six billion at 85 00:04:11,280 --> 00:04:14,280 Speaker 2: Accent Group. It owns Platypus and a bunch of brands. 86 00:04:14,400 --> 00:04:18,520 Speaker 1: How about this story Number four. Chinese battery manufacturer Coatl 87 00:04:18,839 --> 00:04:23,280 Speaker 1: has unveiled upgraded battery cells that it claims can offer 88 00:04:23,320 --> 00:04:26,200 Speaker 1: a five hundred and twenty kilometer range from just five 89 00:04:26,240 --> 00:04:27,360 Speaker 1: minutes of charging time. 90 00:04:27,480 --> 00:04:30,479 Speaker 2: It's faster than BYD, which last month said it could 91 00:04:30,520 --> 00:04:33,360 Speaker 2: do four to seventy kilometers in about five minutes. Both 92 00:04:33,360 --> 00:04:35,240 Speaker 2: claims are a long way ahead of whatever's in the 93 00:04:35,279 --> 00:04:38,000 Speaker 2: Tesla or other manufacturers out of Europe at the moment. 94 00:04:38,279 --> 00:04:41,960 Speaker 2: Coatl also said it's made technological advances that will allow 95 00:04:42,000 --> 00:04:45,640 Speaker 2: it to produce batteries that are cheaper, lighter, faster to recharge, 96 00:04:45,680 --> 00:04:49,600 Speaker 2: and more resistant to coal to cold, while providing greater 97 00:04:49,720 --> 00:04:52,280 Speaker 2: driving range. According to The New York Times, most of 98 00:04:52,320 --> 00:04:54,400 Speaker 2: the changes, which are a couple of years away from 99 00:04:54,480 --> 00:04:58,560 Speaker 2: being widely available in Newcast, could make evs more competitive 100 00:04:58,600 --> 00:05:02,599 Speaker 2: in price and perform. Mormans now CAT produces a third 101 00:05:02,640 --> 00:05:05,240 Speaker 2: of the world's electric car battery supply sixteen of the 102 00:05:05,279 --> 00:05:09,320 Speaker 2: world's big car makers, including General Motors, main rival byd 103 00:05:09,560 --> 00:05:13,280 Speaker 2: It's about one sixth of the world's v batteries. It 104 00:05:13,480 --> 00:05:17,600 Speaker 2: tends to supply batteries to South Korean and Japanese car makers. 105 00:05:17,960 --> 00:05:20,640 Speaker 1: Last one story number five. The battle between Donald Trump 106 00:05:20,720 --> 00:05:23,839 Speaker 1: and US financial markets has escalated after the US President 107 00:05:24,200 --> 00:05:27,000 Speaker 1: called the boss of the Federal Reserve a loser. 108 00:05:27,600 --> 00:05:29,720 Speaker 2: Certain people in the bureaucracy in the US are held 109 00:05:29,720 --> 00:05:33,480 Speaker 2: in absolute high esteem. One of those is J. Powell, 110 00:05:33,560 --> 00:05:36,280 Speaker 2: head of the FED. In a tweet, after Powell indicated 111 00:05:36,320 --> 00:05:38,880 Speaker 2: interest rates in the US won't fall at any time soon, 112 00:05:38,960 --> 00:05:41,960 Speaker 2: in part because of the tariffs issue, Trump claimed that 113 00:05:42,000 --> 00:05:44,320 Speaker 2: there is almost no inflation and warned that there could 114 00:05:44,320 --> 00:05:48,000 Speaker 2: be and I quote slowing of the economy unless mister 115 00:05:48,080 --> 00:05:53,159 Speaker 2: too late a major loser Allowa's interest rates. Now, of course, 116 00:05:53,200 --> 00:05:55,760 Speaker 2: there were caps in that too. The Salvey pushed the 117 00:05:55,839 --> 00:05:57,880 Speaker 2: S and P five hundred dine down by as much 118 00:05:57,880 --> 00:06:01,600 Speaker 2: as three percent, ironically pushed on yields, which predict future 119 00:06:01,640 --> 00:06:05,080 Speaker 2: interest rates higher. The big problem is that Trump's attacks 120 00:06:05,120 --> 00:06:07,040 Speaker 2: undermine the view that the US is a safe haven 121 00:06:07,080 --> 00:06:09,680 Speaker 2: country well managed by independent central bankers. 122 00:06:09,720 --> 00:06:11,840 Speaker 1: All right, there we go, the top five business stories 123 00:06:11,839 --> 00:06:12,520 Speaker 1: in five minutes. 124 00:06:12,600 --> 00:06:13,800 Speaker 2: Thank you Sean, Thank you Michael. 125 00:06:13,800 --> 00:06:16,120 Speaker 1: It's Wednesday, the twenty third of April twenty twenty five. 126 00:06:16,200 --> 00:06:18,320 Speaker 1: Remember to hit follow on the podcast. If five minutes 127 00:06:18,400 --> 00:06:20,280 Speaker 1: just isn't long enough for you can find our longer 128 00:06:20,360 --> 00:06:23,880 Speaker 1: daily show called Fear and Greed whereever you listen to podcasts, 129 00:06:24,000 --> 00:06:26,440 Speaker 1: or head along to Fearangreed dot com dot au, which 130 00:06:26,480 --> 00:06:29,039 Speaker 1: is also where you sign up for our free daily newsletter. 131 00:06:29,160 --> 00:06:31,400 Speaker 1: I'm Michael Thompson and that was the fast five business 132 00:06:31,440 --> 00:06:33,440 Speaker 1: news by Fear and Greed. Have a great day.