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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 Aylmer, Hello Michael sewn. On weekdays, it's all about

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Speaker 1: the 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, obviously,

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Speaker 1: but we're going to pick out the biggest business story

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

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Speaker 1: one that's not getting the attention that we feel it should,

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Speaker 1: and our favorite business story. I'll go first, if that's

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Speaker 1: okay with the biggest Is that all right?

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Speaker 2: Yeah?

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Speaker 1: Yeah, yeah, Look, because I think there really was only one,

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Speaker 1: Well was a bunch of stories, a big, big story.

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Speaker 1: Everything else kind of revolved around it. This week, the

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Speaker 1: federal budget Treasurer Jim Chalmers delivering his second consecutive surplus

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Speaker 1: nine point three billion dollars, the first back to back

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Speaker 1: surpluses in almost two decades. We've got a whole lot

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Speaker 1: of deficits coming up though after that. It was generally

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Speaker 1: considered to be an election budget, something for everyone, tax

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Speaker 1: cuts for every taxpayer, rental relief, funding for medicines, three

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Speaker 1: hundred dollars power bill rebates for households, three hundred and

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Speaker 1: twenty five dollars for small business. That got a lot

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Speaker 1: of economists kind of worked up over whether or not

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Speaker 1: it was inflationary. The Treasurer said it wasn't. Economists say

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Speaker 1: it probably was. Business bit of a mixed reaction. A

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Speaker 1: lot of employee groups wanted to see more budget repair,

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Speaker 1: more savings. The opposition, well, they kind of put forward

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Speaker 1: their budget and reply with Peter Dutton suggesting that it

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Speaker 1: should be cutting migration, doing more to fix the housing crisis,

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Speaker 1: and also making changes to foreign investment. There was a

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Speaker 1: lot going on. Miners were happy this week. Thirteen point

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Speaker 1: seven billion dollars in production tax credits. Really a big

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Speaker 1: focus on critical minerals. There is so much John I

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Speaker 1: could do the full five minutes just on the budget,

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Speaker 1: but it was a big, big story this week.

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Speaker 2: Sure, I just like a little add on to the budget.

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Speaker 2: The fact that they've downgraded economic growth forecasts, the fact

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Speaker 2: that they think unemployment will be a bit higher, and

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Speaker 2: importantly the fact that inflation forecasts suggests that it could

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Speaker 2: come back into the Reserve Banks target range at the

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Speaker 2: end of this year early next year. Really important, particularly

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Speaker 2: when you add onto that the fact that US inflation

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Speaker 2: was weaker than expected. We found that out this week,

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Speaker 2: the fact that wager's growth is a bit slower than

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Speaker 2: we thought it would be, and the fact that the

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Speaker 2: local unemployment rate has jumped to four point one percent.

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Speaker 2: Market's now pricing in a fifty percent chance of a

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Speaker 2: rate cut this year. Michael, Wow, most remarkable. It has

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Speaker 2: been a big bi week. A couple of remarkable stories

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Speaker 2: around though.

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Speaker 1: What was it for you?

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Speaker 2: Well, memestocks are back and that's truly remarkable. GameStop and

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Speaker 2: AMC's share prices surged this week. It's after social media

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Speaker 2: giant Keith Gill otherwise own as Roaring Kitty, produced a

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Speaker 2: picture on x shared a man leaning forward with what

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Speaker 2: looked like a gaming control, which some traders interpreted to

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Speaker 2: mean that Gil is coming back into action now. He

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Speaker 2: has been dormant since twenty twenty one. Back then, he

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Speaker 2: shot to fame after he rallied day traders on Reddit

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Speaker 2: to squeeze game stock short sellers. Basically, he pushed game

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Speaker 2: stops share price from about seventeen bucks to about four

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Speaker 2: hundred and eighty bucks. Seems like he's back at it. Again.

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Speaker 2: The fact that he put that one post up quadrupled

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Speaker 2: game stops share. It has come off since then, but

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Speaker 2: other memes stocks have done well to pretty amazing.

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Speaker 1: Yeah, really amazing. A quick remarkable story is just the

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Speaker 1: ongoing saga of BHP's pursuit of rival mining giant Anglo American.

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Speaker 1: I mean it's been going on for a couple of

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Speaker 1: weeks now, but this week we saw the second bid

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Speaker 1: by BHP, sixty four billion dollar bid being rejected by

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Speaker 1: the Anglo Board. Few more twists and turns since then, Sean,

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Speaker 1: but there is a ticking clock on this one. May

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Speaker 1: twenty two, the UK's put up or shut up takeover

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Speaker 1: laws puts a bit of a deadline on it. So

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Speaker 1: it is all very very exciting.

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Speaker 2: Sure is, Can Chell you about my sleeper story of

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Speaker 2: the week, Please do Aristocrat Leisure. It is a top

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Speaker 2: twenty stock, yet many many retail trades in particular don't

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Speaker 2: know about it. Started in nineteen sixty five by the

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Speaker 2: famous Len Ainsworth. Eventually it was handed down to his sons.

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Speaker 2: It's a bigger stock than Santos Coles zero, Cocklear, Suncorp

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Speaker 2: household names. What happened this week? Aristocate Leisure's share price

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Speaker 2: jumped twelve percent after it came out with its interim results.

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Speaker 2: Shareholders have had a return of eight hundred percent over

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Speaker 2: the past decade. It's got three arms. It's got traditional

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Speaker 2: gaming machines, you know, pubs, clubs, casinos, those sorts of things.

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Speaker 2: Online social, it's no money online, real money games. It's

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Speaker 2: doing well in the US slot machine market, whereby it

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Speaker 2: effectively rents out the machines and takes a cut of

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Speaker 2: the money put through them. It's launched six NFL branded

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Speaker 2: machines over the past two a month, and they have

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Speaker 2: really gone off. In the social gaming division, which is

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Speaker 2: called Pixel United, a seventeen percent increase in profit was

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Speaker 2: driven by growth in its market share in social and

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Speaker 2: the continued success of role playing games. Quite a remarkable

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Speaker 2: little company, that one.

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Speaker 1: Yeah, it certainly is. All right. Onto the favorite story, Sean,

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Speaker 1: Can I nominate one for this?

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Speaker 2: Yes? I think we agree on it.

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Speaker 1: I think so because this is the favorite story this

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Speaker 1: week is all about one of the biggest success stories

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Speaker 1: in business and how it overcame really what you would

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Speaker 1: describe as a bit of a pr nightmare twenty years ago,

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Speaker 1: but it's gone on to even greater heights. Two decades

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Speaker 1: now since the movie Supersized Me came out, where Morgan Spurlock,

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Speaker 1: the director and the star of the movie, eight only

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Speaker 1: McDonald's for a month didn't to prove a point that

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Speaker 1: the fast food chain wasn't good for people's health. He

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Speaker 1: made that point, he made it well. The movie was

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Speaker 1: a hit, helped to raise awareness of healthy eating, encourage

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Speaker 1: macers to discontinue at supersized Menu, but Sean it did

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Speaker 1: not slow the march of the Golden Arches. Fast forward

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Speaker 1: twenty years, there are forty two thousand locations. The company's

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Speaker 1: share price is up nearly one thousand percent since the

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Speaker 1: movie came out. The companies evolved. Everyone contains a mcafe.

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Speaker 1: Now you can get apple chips instead of fries, you

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Speaker 1: can get salads, all kinds of things. But I just

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Speaker 1: think the continued strength of McDonald's is a pretty remarkable story.

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Speaker 1: And the fact that it not just survived but went

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Speaker 1: on to thrive after Supersize Me came out twenty years ago.

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Speaker 1: I think that's amazing.

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Speaker 2: I'm with you on that one.

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Speaker 1: All right. There we go five minutes and pretty much

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Speaker 1: everything you need to know in the world of Business.

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Speaker 2: Thank you Sean, Thank you Michael.

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Speaker 1: We'll be back on Monday morning with the top five

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Speaker 1: business stories in five minutes. Don't forget to hit follow

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Speaker 1: and join us online on Instagram, TikTok, LinkedIn, Facebok, book

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Speaker 1: and X. Are Michael Thompson and this is the fast

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Speaker 1: five business news by Fearing Great