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Speaker 1: It's Thursday, the twenty fifth of July twenty twenty four.

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Speaker 2: Welcome to the.

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Speaker 1: Fast fire business News by Fear and Greed, where we

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Speaker 1: give you the top five business stories you need to

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Speaker 1: know in just five minutes. Are Michael Thompson and Good Morning.

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Speaker 2: Sean Aylmer, Good morning, Michael Shawn.

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Speaker 1: Five stories to get through in five minutes. Let's go

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Speaker 1: story number one. Treasurer Jim Chalmers has released draft merger

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Speaker 1: reform legislation which he hopes will make the merger approval

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Speaker 1: system faster, stronger, simpler, more targeted, and more transparent. It's

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Speaker 1: quite the wishless, isn't it.

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Speaker 2: Sure is subject to making it through Parliament. The new

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Speaker 2: system will commence in twenty twenty six. It aims to

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Speaker 2: speed up the process for mergers that are in their

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Speaker 2: national interest and give the regulator stronger powers to identify

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Speaker 2: and scrutinize transactions that pose a risk to competition, consumers,

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Speaker 2: and the economy. Now, theoretically, the laws should make it

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Speaker 2: easier for the majority of mergers to be approved quickly,

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Speaker 2: so the HBC can focus on the minority that give

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Speaker 2: rise to competition concerns. Idea is that mergers should occur

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Speaker 2: and do occur quickly. Don't get caught up in the

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Speaker 2: paperwork hbill See Chair Jenni Cash Godly said the reforms

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Speaker 2: were important because they also addressed the deficiencies of current

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Speaker 2: merger laws that allowed too many tie ups to escape

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Speaker 2: regulatory scrutiny. So the regulator will have more power to

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Speaker 2: look into deals just quickly.

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Speaker 1: Sean cleaning up the system seems to be a bit

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Speaker 1: of a theme this week, with the Corporate Regulator yesterday

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Speaker 1: releasing its review of how well the share market works

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Speaker 1: in Australia, basically whether it's a level playing field and generally,

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Speaker 1: while things are pretty good, some attacks on the integrity

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Speaker 1: of the market could have hurt mum and Dad investors.

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Speaker 2: Yes Asset look at how the market operates, whether there's

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Speaker 2: price movement ahead of major announcements. Some of the key

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Speaker 2: findings that the AX has less than half the amount

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Speaker 2: of unusual trading ahead of M and A activity compared

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Speaker 2: to global peers. A couple of bad periods. COVID nineteen

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Speaker 2: was poor. Late last year was also poor. About five

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Speaker 2: percent of training activity was what Assek called abnormal. Cleanest

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Speaker 2: sector Telco's lease clean real estate investment trust.

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Speaker 1: Michael, all right, moving on to story number two now,

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Speaker 1: and the federal government has received about four times what

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Speaker 1: it needs to offload a ten year bond, with fifty

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Speaker 1: five billion dollars in orders for the issue, which was

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Speaker 1: expected to raise between eleven billion and twelve billion dollars.

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Speaker 2: Yes, that's sort of a subscription that shows there's clearly

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Speaker 2: plenty of investor appetite for ten year government bonds, which

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Speaker 2: kind of allows me to talk about ain Z. The

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Speaker 2: corporate watchdog ACIK is examining ain Z's role in the

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Speaker 2: sale of fourteen billion dollars worth of government bonds last April.

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Speaker 2: There are only a handful of organizations that governments trust

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Speaker 2: to deal with these massive bond issuances. Now it's emerged

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Speaker 2: that ain Z provided the federal government with inflated bond

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Speaker 2: trading data. Essentially, it kind of boosted its resume when

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Speaker 2: when it was trying to win the right to be

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Speaker 2: involved in the bond issuance. It's also being investigated by

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Speaker 2: ACIK for allegedly manipulating what's known as the benchmark ten

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Speaker 2: year future's rate, which is akin to the cost of

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Speaker 2: the bond. Aine Z's in hot water on this one.

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Speaker 1: Indeed Story number three. The Aboriginal and Torres straight Islander

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Speaker 1: population of Australia is now over one million people and

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Speaker 1: the increase of six percent since June twenty twenty one.

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Speaker 2: It's actually a projection based on levels of fertility, paternity,

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Speaker 2: mortality and internal migration, and it suggests that the number

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Speaker 2: will reach one point two million by twenty thirty one.

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Speaker 2: While Indigenous Australians are more likely to be living in

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Speaker 2: the regions, there is a shift towards major cities. Perth

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Speaker 2: and Brisbane are the two cities where fastest and your

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Speaker 2: growth is expected over the next ten years or so.

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Speaker 2: New South Wales is still the state with most Aboriginal

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Speaker 2: Torres straight Islanders. In total, they comprise about three point

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Speaker 2: eight percent of Australia's population.

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Speaker 1: Story number four. Elon Musk Sean has asked Tesla shareholders

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Speaker 1: to be patient after the ev manufacturer reported its fourth

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Speaker 1: straight disappointing quarterly result.

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Speaker 2: Elon Musk patients, ironic, isn't it for the due quarter profits?

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Speaker 2: For disappointing those sales will hired. The margin it makes

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Speaker 2: on cars narrow to end in after ours trading at

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Speaker 2: share pace time of eight percent mister Musk told investors

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Speaker 2: that Tesla won't unveil the highly anticipated robo taxi into

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Speaker 2: October and it will only be a prototype. A new

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Speaker 2: lower cost car won't go into production until the first

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Speaker 2: half of next year at the earliest. A plan factory

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Speaker 2: in Mexico's on pause, and a humanoid robot that mister

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Speaker 2: Musk claims will send Tesla's valuation soaring won't be ready

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Speaker 2: anytime soon. Also hurting Tesla is its emissions credit scheme.

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Speaker 2: Tesla sells credits to other car makers seeking to comply

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Speaker 2: with the missions mandates, and he half as many were

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Speaker 2: sold in the June quarter.

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Speaker 1: Last one story number five and this one is quite incredible.

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Speaker 1: Sean profits from the Crown Estates we're talking the windsors

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Speaker 1: in the UK jumped to about one point one billion

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Speaker 1: pounds last year. That's nearly two billion Aussie dollars on

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Speaker 1: the back of some you've got to say, pretty smart

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Speaker 1: deals involving the leasing of seabed sites to offshore wind producers.

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Speaker 2: In the Crown Estate Annual Report, it says that earnings

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Speaker 2: last year more than and as a result, the Royal

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Speaker 2: family will receive a payment what they call the sovereign

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Speaker 2: grant of one hundred and thirty two million pounds. That's

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Speaker 2: up from eighty six million pounds the previous year. Net

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Speaker 2: profit from the Crown of States is passed on the

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Speaker 2: government and then the Crown itself receives a fixed yearly payment.

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Speaker 2: Some really interesting facts from the annual report. The number

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Speaker 2: of visitors to Buckingham Palace and Winsor cast will return

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Speaker 2: to almost pre COVID levels. Family members took part in

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Speaker 2: twenty three hundred engagements in Britain and abroad during the year,

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Speaker 2: which was actually a lot less than the total in

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Speaker 2: the year before the pandemic, when Queen Elizabeth and her

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Speaker 2: family managed thirty two hundred official engagements. Now remember, over

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Speaker 2: the past twelve months, the King himself and Princess Kate

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Speaker 2: of Wales have had illnesses. I think it's Princess Castroin

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Speaker 2: of Wales should say that, Michael. The number of messages

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Speaker 2: the King and the Princess received by mail wishing them

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Speaker 2: well following their health announcements was twenty seven six hundred

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Speaker 2: and twenty and Buckingham Palace also made progress on goals

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Speaker 2: to recruit a more diverse workforce. It said it how

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Speaker 2: has eleven point four percent of its employees from ethnic minorities,

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Speaker 2: still short of its fourteen percent target.

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Speaker 1: All right, there we go the top five business stories

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Speaker 1: in five minutes. Thank you Sean, Thank you Michael. It's Thursday,

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Speaker 1: the twenty fifth of July twenty twenty four. Remember to

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Speaker 1: hit follow on the podcast t Andy. Five minutes isn't enough.

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Speaker 1: You can find our longer daily show called Fear and

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Speaker 1: Greed wherever you listen to podcasts, and don't forget to

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Speaker 1: check out our sister podcast as well. How Do They

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Speaker 1: Afford That? All about making your money work a little

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Speaker 1: bit harder for you. This week's episode is a very

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Speaker 1: close look at money insider relationship. I'm Michael Thompson and

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Speaker 1: that was the fast five business news by Fear and Greed.

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Speaker 1: Have a great day.