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Speaker 1: Welcome to the weekend edition of the Fast five Business

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Speaker 1: News by Fear and Greed. I'm Michael Thompson and hello

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Speaker 1: Sean Ale Michael Shawan. On weekdays, it's all about the

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

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Speaker 1: On the weekend, we still keep it to five minutes,

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Speaker 1: of course, but we're going to pick out the biggest

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Speaker 1: business story of the week, the most remarkable, a mystery

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Speaker 1: category changes every week, and then our favorite business ish story.

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Speaker 1: Let's jump straight in. What was the biggest business story

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Speaker 1: this week? Oh?

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Speaker 2: I think the economics, the National accounts and the Reserve

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Speaker 2: Bank Board minutes. What we saw in the national accounts,

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Speaker 2: household spending was very weak in the March quarter, so

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Speaker 2: to business investment. Government spending is slowing, especially around the States.

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Speaker 2: Few international students. Ex Cyclone Alfred caused some problems. We

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Speaker 2: have productivity at twenty sixteen levels. Not a lot good

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Speaker 2: from those national accounts this week. Add to that the

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Speaker 2: Reserve Bank minutes, which shows that the Board gave some

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Speaker 2: serious consideration to a fifty basis point cut. I reckon

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Speaker 2: you throw that all together. This week we found out

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Speaker 2: that more rate cuts are on the way. Hard to

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Speaker 2: argue that anymore, we might possibly two maybe even three.

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Speaker 1: Yeah, that is a big story. The other big story

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Speaker 1: around this week was the wage rights. The Fair Work

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Speaker 1: Commission this week granting a three point five percent increase

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Speaker 1: in the minimum wage and all the award wages that

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Speaker 1: are basically based off that. It's going to affect millions

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Speaker 1: of workers. A direct impact on twenty one percent of

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Speaker 1: employees obviously sets that benchmark for millions of others. Unions

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Speaker 1: had wanted a four and a half percent increase, business

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Speaker 1: had wanted two and a half percent, So three and

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Speaker 1: a half percent comes right down in the middle. And

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Speaker 1: when you've got inflation sitting at two point four percent,

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Speaker 1: this is a real wage increase. That is good news

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Speaker 1: for a lot of workers.

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Speaker 2: Sean sure is, Michael, can I tell you what I

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Speaker 2: think the most remarkable story was, Yeah, please, all about politics.

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Speaker 2: A bunch of things happened this week. The Australian Electric

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Speaker 2: Commission called Bradfield in Northern Sydney to a Teal Nicolett

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Speaker 2: bowl twenty six votes. She beat the Liberal candidate, possibly

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Speaker 2: the closest vote ever. There was also, I mean, I

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Speaker 2: found it quite remarkable that US was telling Australia how

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Speaker 2: much money it should speed on defense. Anthony Albinezy basically

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Speaker 2: said back to Washington, none of your business. We had

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Speaker 2: Trade mister Don Farrell making the pretty remarkable statement about

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Speaker 2: Europe and Australia being the adults in the room. We

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Speaker 2: know what he was referring to, Australia and Europe are

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Speaker 2: having to do an FTA in coming months. We also

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Speaker 2: had Green Senator Derinda Cox defecting to labor Us and

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Speaker 2: has that happened. Lee's emerged about what she thought of

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Speaker 2: other people like Pauline Hanson. We also had the debate

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Speaker 2: over the superannuation tax for three million for accounts with

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Speaker 2: more than three million dollars in It looks like the government,

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Speaker 2: with the help of the Greens, will get that legislation through.

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Speaker 1: My most remarkable story this week, Sean, was the spectacular

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Speaker 1: blow up between Donald Trump and Elon Musk. It has

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Speaker 1: been going on for a while now. The relationship has

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Speaker 1: been souring, but it's gotten bad this week and it's

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Speaker 1: over the The name is the One Big Beautiful Bill Act.

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Speaker 1: That is the official name for this. It covers a

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Speaker 1: whole lot of stuff. It's got tax cuts and changes

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Speaker 1: to medicaid and defense and immigration, to crackdown US all

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Speaker 1: in one. Anyway, Elon Musk no longer running doughe so

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Speaker 1: is no longer really in the White House, certainly not

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Speaker 1: in the Oval office anymore. So he has just got

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Speaker 1: stuck right in. He's calling it a disgusting abomination, a massive, outrageous,

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Speaker 1: pork filled congressional spending bill. He's got a campaign to

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Speaker 1: kill the bill, telling people to call your senator, call

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Speaker 1: your congressman. Bankrupting America is not okay. There have been

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Speaker 1: independent analysis done of this that said it will add

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Speaker 1: between two and a half and three point one trillion

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Speaker 1: dollars in debt to the US budget. It is just huge,

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Speaker 1: this thing, and it's not going away.

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Speaker 2: No, I don't think so.

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Speaker 1: Okay. Mystery category this week sean dead companies coming back

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Speaker 1: to life.

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Speaker 2: I like it. My uranium stocks. Let me tell you

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Speaker 2: everyone loves uranium stocks. The fact they're on fire. Maybe

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Speaker 2: we shouldn't say that now. In one of these companies

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Speaker 2: five years ago, Deep Yellow is one twenty cents five

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Speaker 2: years ago now dollar thirty five, Paladin about a buck

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Speaker 2: thirteen five years ago today, six bucks, Boss Energy six

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Speaker 2: cents to more than four dollar. Mostly it's thinks that

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Speaker 2: the tech stocks this week metas that it wants to

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Speaker 2: increase its use of nuclear power, signing a twenty year

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Speaker 2: contract to buy nuclear power from a group in the US. Microsoft, Amazon,

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Speaker 2: and Alphabet have all done similar things in recent months.

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Speaker 2: US states are falling over themselves to support nuclear energy.

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Speaker 2: Uranian companies are back, Michael.

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Speaker 1: Virgin is back as well. True, that's the other one.

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Speaker 1: It's set to Virgin Australia set to list on the

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Speaker 1: AX at evaluation of around two point three billion dollars.

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Speaker 1: Of course, ban Capital bought Virgin out of administration during

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Speaker 1: the pandemic last year. Katar bought a twenty five percent

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Speaker 1: steak in the airline or thereabouts. Now once floatd Baine

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Speaker 1: is going to own about forty percent Katar that twenty

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Speaker 1: three percent ish steak, there will be a whole bunch

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Speaker 1: of new shareholders. Got to say, this is probably the

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Speaker 1: most exciting listing since Gusmani Gomez last year, right out

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Speaker 1: of doubt, and it's got people excited, It's got people talking.

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Speaker 1: I love it. Virgin's back.

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Speaker 2: Can I tell my favorite story?

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Speaker 1: Oh? I think we're united on this one.

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Speaker 2: What is it some positivity in the asex Oh we

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Speaker 2: had Old Pat's merging with building materials group Brickworks creates

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Speaker 2: a new company about the size of Quantas James Hardy,

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Speaker 2: JB Hiphi Cochleia. Pretty interesting companies, this one as soul

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Speaker 2: Pats second, the oldest listed company, began in eighteen seventy

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Speaker 2: two as a pharmacy business in Sydney's Pitt Street's grown

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Speaker 2: from there. Brickworks has been around since nineteen sixty bringing

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Speaker 2: him together, been talking about it for years. Finally it's done.

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Speaker 2: You're thrown virgin, which you mentioned, Michael. Let's also add

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Speaker 2: in Comwealth Bank market cap beyond three hundred billion dollars

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Speaker 2: this week, first time ever for an Australian company globally.

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Speaker 2: It's about the same size as McDonald's, Walt Disney, MX PepsiCo,

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Speaker 2: uber Bowing. It really puts it in the big league.

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Speaker 2: Good on Commonwealth Bank.

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Speaker 1: Yeah, that was a great story, great wrap up stories

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Speaker 1: there shown five minutes and pretty much everything you need

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Speaker 1: to know in the world of business. Thank you very much,

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Speaker 1: Thank you, Michael. We'll be back on Monday morning with

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Speaker 1: the top five business stories in five minutes. Don't forget

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Speaker 1: to hit follow, join us online as well on Instagram, TikTok, LinkedIn,

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Speaker 1: Facebook and X. I'm Michael Thompson and this is the

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Speaker 1: past five Business News, Boy, Fear and Greece