1
00:00:03,960 --> 00:00:07,080
Speaker 1: It's Wednesday, the sixteenth of July twenty twenty five. Welcome

2
00:00:07,080 --> 00:00:09,160
Speaker 1: to the Fast five by Fear and Greed, where we

3
00:00:09,240 --> 00:00:11,200
Speaker 1: give you the top five business stories you need to

4
00:00:11,240 --> 00:00:14,160
Speaker 1: know in just five minutes. I'm Adam Lang and good morning,

5
00:00:14,200 --> 00:00:14,800
Speaker 1: Sean Almer.

6
00:00:15,120 --> 00:00:16,480
Speaker 2: Good morning, Adam.

7
00:00:16,640 --> 00:00:19,599
Speaker 1: Sean's story number one. Prime Minister Anthony Albanesi met with

8
00:00:19,720 --> 00:00:23,200
Speaker 1: Chinese President Jijingping yesterday in the Great Hall of the

9
00:00:23,239 --> 00:00:26,920
Speaker 1: People near Tianamin Square in Beijing. It was a cordial affair,

10
00:00:27,000 --> 00:00:30,600
Speaker 1: with Ji congratulating Alberanesi on his re election, saying that

11
00:00:30,680 --> 00:00:34,879
Speaker 1: it is important that international turbulence doesn't derail improvements in

12
00:00:34,920 --> 00:00:36,640
Speaker 1: the China Australia relationship.

13
00:00:37,120 --> 00:00:39,760
Speaker 2: She talked about the need to treat people equally in

14
00:00:39,800 --> 00:00:42,200
Speaker 2: for the two countries to seek common ground and pursue

15
00:00:42,280 --> 00:00:46,520
Speaker 2: mutually beneficial cooperation. He alluded to the reproachment in Sino

16
00:00:46,560 --> 00:00:50,040
Speaker 2: Australian ties following Albanze's election in twenty twenty two, which,

17
00:00:50,080 --> 00:00:52,840
Speaker 2: of course, they came after Beijing had targeted twenty billion

18
00:00:52,880 --> 00:00:56,440
Speaker 2: dollars of Australian exports and frozen ministerial dialogue. She said

19
00:00:56,480 --> 00:00:59,120
Speaker 2: the two countries had reached many common understandings with joint

20
00:00:59,160 --> 00:01:03,600
Speaker 2: effort from setbacks. Now she is China Supreme Leader. He

21
00:01:03,640 --> 00:01:07,760
Speaker 2: did not mention US President Donald Trump specifically and his

22
00:01:07,800 --> 00:01:11,080
Speaker 2: global trade war. He also did not mention the issue

23
00:01:11,080 --> 00:01:14,600
Speaker 2: around the US about the port of Darwin where Australia

24
00:01:14,800 --> 00:01:17,959
Speaker 2: is trying to remove the Chinese owner of that. He

25
00:01:18,000 --> 00:01:22,440
Speaker 2: did Jailbanesi to ensure global turbulence doesn't undermine the repair

26
00:01:22,760 --> 00:01:27,520
Speaker 2: work done to bilateral ties. Mister Aberanesi echoed She's sentiment

27
00:01:27,560 --> 00:01:31,160
Speaker 2: about the importance of finding points of unity in the relationship. Notably,

28
00:01:31,400 --> 00:01:34,360
Speaker 2: China State media reported the PM six day visit, highlighting

29
00:01:34,400 --> 00:01:36,000
Speaker 2: the length of his stay in the size of the

30
00:01:36,000 --> 00:01:42,400
Speaker 2: accompanying business delegation as proof of Australia's commitment to bilateral relations.

31
00:01:42,480 --> 00:01:45,520
Speaker 1: Sewan miss Dalbanez. He also met with Chinese Premier League

32
00:01:45,560 --> 00:01:48,559
Speaker 1: Kiang last night for the annual leaders meeting and follow

33
00:01:48,640 --> 00:01:51,000
Speaker 1: that with a dinner between the two and business leaders

34
00:01:51,000 --> 00:01:52,040
Speaker 1: from both countries.

35
00:01:52,360 --> 00:01:54,520
Speaker 2: So Lee's formerly head of the government, while Shi Jingping

36
00:01:54,680 --> 00:01:57,640
Speaker 2: is head of State or basically the equivalent with Australia

37
00:01:58,200 --> 00:02:00,919
Speaker 2: of Australia's government general, but he has all the power

38
00:02:01,240 --> 00:02:04,480
Speaker 2: unlike our governor General. A few of the more thorny

39
00:02:04,520 --> 00:02:08,239
Speaker 2: issues were likely to be mentioned last night. That Porta

40
00:02:08,320 --> 00:02:11,720
Speaker 2: Darwin could have been mentioned last night also the recent

41
00:02:11,720 --> 00:02:15,959
Speaker 2: circumnavigation of the Australian mainland and unannounced live firing exercises

42
00:02:16,000 --> 00:02:18,639
Speaker 2: in the Tasman Sea. They were also expected to get

43
00:02:18,639 --> 00:02:19,239
Speaker 2: a run.

44
00:02:19,320 --> 00:02:22,280
Speaker 1: Story number two. The local shere market set a closing

45
00:02:22,320 --> 00:02:24,880
Speaker 1: record yesterday, and it was a particularly good day for

46
00:02:24,919 --> 00:02:25,920
Speaker 1: technology stocks.

47
00:02:26,320 --> 00:02:28,440
Speaker 2: The S and PI six two hundred finished up zero

48
00:02:28,520 --> 00:02:31,400
Speaker 2: point seven percent to eighty six hundred and thirty points,

49
00:02:31,400 --> 00:02:34,480
Speaker 2: eclipsing the previous closing high. Though it's still shy, it's

50
00:02:34,520 --> 00:02:37,400
Speaker 2: all time high. The strong day followed a rise on

51
00:02:37,480 --> 00:02:40,720
Speaker 2: Wall Street after Donald Trump indicated he's open to negotiate

52
00:02:40,800 --> 00:02:43,960
Speaker 2: on tariffs, not standing in post. Thirty percent rates on

53
00:02:44,080 --> 00:02:46,680
Speaker 2: Nextico and EU over the weekend thirty five percent on Canada.

54
00:02:46,960 --> 00:02:48,840
Speaker 2: There were big jumps in some of the tech stocks

55
00:02:48,880 --> 00:02:51,320
Speaker 2: on the back of Wall Street increases. Life three sixty

56
00:02:51,520 --> 00:02:54,760
Speaker 2: was up eight percent, Wi Seat Global zero, Tech one,

57
00:02:55,160 --> 00:02:58,240
Speaker 2: Next DC all did well over the past week or so,

58
00:02:58,400 --> 00:03:01,360
Speaker 2: though the big miners in Telstra along with the energy

59
00:03:01,360 --> 00:03:04,480
Speaker 2: stocks have driven the share market higher. Real estate and

60
00:03:04,480 --> 00:03:08,600
Speaker 2: consumer staples companies have suffered a little bit place like

61
00:03:08,639 --> 00:03:09,800
Speaker 2: Willis and Coals.

62
00:03:09,880 --> 00:03:12,440
Speaker 1: Sean story number three. The Reserve Bank wants to overhaul

63
00:03:12,480 --> 00:03:16,400
Speaker 1: the payment system, banning surch charges on credit and debit cards,

64
00:03:16,480 --> 00:03:19,680
Speaker 1: saving consumers more than one billion dollars a year.

65
00:03:20,080 --> 00:03:22,600
Speaker 2: Under a planned overhaul, the Reserve Bank would ban surch

66
00:03:22,680 --> 00:03:25,320
Speaker 2: charges and all debit and credit transactions under the f POSS,

67
00:03:25,560 --> 00:03:28,560
Speaker 2: master Card and Visa networks. They're about seventeen million credit

68
00:03:28,639 --> 00:03:32,000
Speaker 2: and charge cards out there, forty eight point five million

69
00:03:32,040 --> 00:03:35,520
Speaker 2: debit cards. Reserve Bank also wants banks to publish previously

70
00:03:35,560 --> 00:03:38,440
Speaker 2: hidden fees levied on retailers, and it calls for interchange

71
00:03:38,440 --> 00:03:40,800
Speaker 2: fees paid between a merchant and a shopper's bank to

72
00:03:40,840 --> 00:03:44,280
Speaker 2: be lowered, saving businesses one point two million dollars annually.

73
00:03:44,600 --> 00:03:47,240
Speaker 2: Central Bank says it estimates that nine percent of Australian

74
00:03:47,240 --> 00:03:49,920
Speaker 2: businesses will be better off under the changes. Governor Michelle

75
00:03:49,920 --> 00:03:52,120
Speaker 2: Willock said the times come to address some of these

76
00:03:52,200 --> 00:03:55,160
Speaker 2: high costs and inefficiencies in the system. The release of

77
00:03:55,200 --> 00:03:58,920
Speaker 2: the plan kicks off a six week consulting period. The

78
00:03:58,960 --> 00:04:02,920
Speaker 2: recommendation interest goes further than what the Albanezy government wanted.

79
00:04:03,000 --> 00:04:06,200
Speaker 2: It only wanted been on search, housing of debit transactions.

80
00:04:06,560 --> 00:04:08,280
Speaker 2: This actually adds credit card to.

81
00:04:08,920 --> 00:04:12,360
Speaker 1: Sean Stein Number four. Australian consumers are still buying online

82
00:04:12,360 --> 00:04:15,440
Speaker 1: in high numbers, but they are changing the way they shop,

83
00:04:15,680 --> 00:04:17,920
Speaker 1: with nearly three quarters of people cutting back on non

84
00:04:18,000 --> 00:04:20,560
Speaker 1: essential items on the back of the high cost of living.

85
00:04:20,720 --> 00:04:23,599
Speaker 2: The report from IAB and pure profile Or released today

86
00:04:23,720 --> 00:04:27,000
Speaker 2: shows that it is only it isn't just cost that matters.

87
00:04:27,040 --> 00:04:31,840
Speaker 2: Convenience matters, rewards, sustainability, transparency across a range of products.

88
00:04:32,040 --> 00:04:34,640
Speaker 2: Online shoppers use an average of four point eight touch

89
00:04:34,680 --> 00:04:37,679
Speaker 2: points like online search and maybe a retailer site personal

90
00:04:37,680 --> 00:04:40,640
Speaker 2: connections ratings that type of stuff. Search remains the top

91
00:04:40,680 --> 00:04:44,680
Speaker 2: discovery tool overall, particularly for the over fifties. Social media

92
00:04:44,720 --> 00:04:48,160
Speaker 2: and influencers are key to millennial and Gen Z online shoppers.

93
00:04:48,600 --> 00:04:52,360
Speaker 2: Free shipping thresholds, easy in free returns, fast shipping. They

94
00:04:52,440 --> 00:04:56,599
Speaker 2: rank as very important retailer offerings. Almost half of online

95
00:04:56,600 --> 00:05:00,640
Speaker 2: shoppers say real time product availability important is also very

96
00:05:00,680 --> 00:05:05,359
Speaker 2: important to them, and mostly online shoppers find free to

97
00:05:05,440 --> 00:05:07,520
Speaker 2: join loyalty and rewards programs valuable.

98
00:05:07,839 --> 00:05:11,440
Speaker 1: Story Number five. Animals react to sounds being made by

99
00:05:11,560 --> 00:05:14,880
Speaker 1: plants near Research suggests opening up the possibility that an

100
00:05:14,960 --> 00:05:18,040
Speaker 1: invisible ecosystem might exist between.

101
00:05:17,720 --> 00:05:21,200
Speaker 2: Them, cracking story. In the first ever such evidence, a

102
00:05:21,240 --> 00:05:24,440
Speaker 2: team at Tel Aviv University found that female moths avoided

103
00:05:24,480 --> 00:05:26,720
Speaker 2: laying their eggs on tomato plants if the plants made

104
00:05:26,800 --> 00:05:30,320
Speaker 2: noises they associated with distress. According to a report in

105
00:05:30,360 --> 00:05:32,600
Speaker 2: the BBC Now, this team is the first to show

106
00:05:32,600 --> 00:05:36,440
Speaker 2: two years ago that plants scream when they're distressed or unhealthy.

107
00:05:36,720 --> 00:05:38,800
Speaker 2: The sounds are outside the range of human hearing, but

108
00:05:38,920 --> 00:05:41,600
Speaker 2: can be perceived by many insects, bats, in some mammals.

109
00:05:41,960 --> 00:05:44,520
Speaker 2: The academics concede it is speculation at this stage, but

110
00:05:44,560 --> 00:05:47,640
Speaker 2: it's possible that all sorts of animals make decisions based

111
00:05:47,680 --> 00:05:49,520
Speaker 2: on the sounds they hear from plants, such as whether

112
00:05:49,560 --> 00:05:52,599
Speaker 2: to pollinate or hide inside or eat the plant. Another

113
00:05:52,680 --> 00:05:55,279
Speaker 2: area of investigation is whether the plants can pass information

114
00:05:55,360 --> 00:05:58,240
Speaker 2: to each other through sound and act in response, such

115
00:05:58,240 --> 00:06:01,960
Speaker 2: as conserving their water and draft condition. It's fascinating, Adam.

116
00:06:01,960 --> 00:06:03,920
Speaker 1: It certainly is, Sean. And that's it the top five

117
00:06:03,960 --> 00:06:06,080
Speaker 1: business stories you need to know in just five minutes.

118
00:06:06,200 --> 00:06:07,200
Speaker 1: Thank you very much, Sean.

119
00:06:07,360 --> 00:06:07,920
Speaker 2: Thanks Adam.

120
00:06:08,000 --> 00:06:11,000
Speaker 1: It's Wednesday, the sixteenth of July twenty twenty five. Remember

121
00:06:11,040 --> 00:06:13,480
Speaker 1: to hit follow on the podcast, and if five minutes

122
00:06:13,560 --> 00:06:16,400
Speaker 1: is not enough, then find our longer podcast called Fear

123
00:06:16,440 --> 00:06:19,760
Speaker 1: and Greed on your favorite podcast platform. I'm Adam Lang

124
00:06:19,800 --> 00:06:21,720
Speaker 1: and that was the past five by Fear and Greed.

125
00:06:21,800 --> 00:06:25,360
Speaker 1: Have a great day.