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Speaker 1: It's Monday, the tenth of June twenty twenty four. Welcome

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Speaker 1: to the Fast five Business News by Fear and Greed.

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Speaker 1: Will we give you the top five business stories you

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Speaker 1: need to know in just 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 in five minutes. Let's get going. Story number one.

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Speaker 1: Former Treasurer Peter Costello has stepped down as chair of

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Speaker 1: Nine Entertainment Days after an altercation with a journalist in

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Speaker 1: Canberra Airport.

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Speaker 2: In that altercation, the journalists ended up on the ground

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Speaker 2: and it appeared that mister Costello veered into him. The

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Speaker 2: former politician has been in charge of Nine for eight years.

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Speaker 2: He'll be superseded by the group's deputy chair Castro and West.

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Speaker 2: Mister Costello presided over Nine during a pretty turbulent time

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Speaker 2: for the media, not just Nine, but the whole sector

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Speaker 2: more broadly. Advertising revenue has been shifting away from traditional

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Speaker 2: media towards major tech platforms like Google, YouTube, Facebook, Instagram, TikTok.

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Speaker 2: Mister Costello's exit follows a board meeting on Friday. Nine's

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Speaker 2: share price is now about a dollar forty. It's down

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Speaker 2: thirty percent this year.

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Speaker 1: Al Right, onto story number two and Mexican themed fast

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Speaker 1: food chain GUZMANI Gomez has increased its initial public offer

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Speaker 1: by nearly one hundred million dollars to three hundred and

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Speaker 1: thirty five million, and its largest shareholder will sell more

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Speaker 1: of at Steak.

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Speaker 2: Guzman First flag It's two point two billion dollar flat

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Speaker 2: plans a week ago. Late on Friday said it had

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Speaker 2: received a commitment from funds associated with Capital Research Global

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Speaker 2: Investors to subscribe for shares at the offer price of

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Speaker 2: twenty two dollars per share. According to the fin Review,

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Speaker 2: the IPO office size has been increased from two hundred

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Speaker 2: and forty three million dollars to three hundred and thirty

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Speaker 2: five million dollars, reflecting a selldown of about ninety three

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Speaker 2: million dollars by one of its biggest shareholders, TDM Growth Partners.

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Speaker 2: It's holding in Goozman will end up at twenty six

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Speaker 2: point two percent. This is a float that seems to

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Speaker 2: be full steam ahead.

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Speaker 1: Sean, I love this next story, story number three, simply

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Speaker 1: because it contains a word that I have never heard before.

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Speaker 1: So we're talking about green bonds here, and more than

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Speaker 1: one hundred investors across five continents have bought Australia's first

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Speaker 1: ever green bond, including fifteen institutions new to Australian government bonds.

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Speaker 2: So the final order book of the seven billion dollar

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Speaker 2: ten year offered through twenty three billion dollars in bids,

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Speaker 2: way more than needed to fund seven billion dollars in

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Speaker 2: The Australian Office of Financial Management estimates that the issue

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Speaker 2: paid a grinium of two basis points above nominal bonds.

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Speaker 2: What's that mean. They're prepared to pay a little bit

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Speaker 2: more to get a bond that is doing the right

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Speaker 2: thing for the environment. So if investors, if they're paying

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Speaker 2: a bit more, they receive a slightly lower return compared

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Speaker 2: to traditional bonds. The bonds demonstrate the commitment to a

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Speaker 2: sustainable environment. Generally, two thirds assaulted domestic investors, twelve percent

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Speaker 2: to those in the UK plus a few other places.

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Speaker 2: The money will be used in programs to finance specific

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Speaker 2: projects to support the country's transition to zero net carbon missions.

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Speaker 1: Story number four Sean Israeli forces rescued four hostages held

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Speaker 1: by Hamas since October in a raid in Gaza over

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Speaker 1: the weekend, but Palestinian official say that The raid killed

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Speaker 1: more than two hundred people. One of the single bloodiest

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Speaker 1: Israeli assaults of the eight month old war.

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Speaker 2: The hostage rescue operation and an intense accompanying air assault

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Speaker 2: took place in central Gaza in a densely built up area.

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Speaker 2: Israel forces came under intense fire, they said during the assault.

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Speaker 2: They responded by firing from the air and from the street.

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Speaker 2: According to a spokesperson who was speaking to Reuter's, gars

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Speaker 2: and paramedics and residents said the assault killed scores of people,

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Speaker 2: left bodies men, women and children strewn across the marketplace

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Speaker 2: in a mosque. Very tragic.

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Speaker 1: Indeed, it is last one shown story number five. Something

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Speaker 1: a little bit lighter to finish on. Investor Bill Gross,

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Speaker 1: once known as the bond King, is looking to set

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Speaker 1: a different investment record next week when the highlights of

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Speaker 1: his rare stamp collection go under the hammer in New York.

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Speaker 2: Gross, who built the most complete collection of US stamps

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Speaker 2: in history, is putting it for sale, piece by peace.

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Speaker 2: Pre sale estimates suggest the sale could bring fifteen to

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Speaker 2: twenty million dollars instead record for a US stamp collection.

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Speaker 2: It's the most valuable piece in eighteen sixty eight one

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Speaker 2: cent z grill. It's called probably z gril. Really, it

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Speaker 2: would chatter the record for a single US stamp if

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Speaker 2: it goes for its pre sale estimate of four to

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Speaker 2: five million dollars. There's only one other copy. It's owned

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Speaker 2: by the New York Public Library. According to the Financial Times,

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Speaker 2: current record is a single inverted Jenny stamp, named for

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Speaker 2: the mistaken print of an upside down aeroplane. It's held

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Speaker 2: a few years back for two million dollars. Mister Gross's

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Speaker 2: interest in stamps apparently comes from his mum, who bought

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Speaker 2: stamps in the nineteen thirties and forties, hoping that eventually

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Speaker 2: pay for his college education.

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Speaker 1: I know that story came from the Financial Times, Sean,

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Speaker 1: but wouldn't it be fitting if instead a stamp collection

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Speaker 1: was covered in the Washington Post? Move on, move on,

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Speaker 1: Well we're pretty much done. Got to scroll out, thankfully. Well,

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

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Speaker 1: Thank you, Sean, Thank you Michael. It's Monday, the tenth

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Speaker 1: of June twenty twenty. Remember it hit follow on the

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Speaker 1: podcast and five minutes isn't enough. You can find our

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Speaker 1: longer daily show called Fear and greed wherever you listen

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Speaker 1: to podcasts. I'm Michael Thompson and that was the Fast

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Speaker 1: five business news by fear and greed. Have a great day.