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Speaker 1: It's Tuesday, the twenty second of July twenty twenty five.

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

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Speaker 1: where 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 Aylma.

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Speaker 2: Good morning Michael, Sean.

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Speaker 1: Five stories, five minutes. Let's go. Story number one. The

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Speaker 1: local share market tumbled yesterday, having its worst session since April,

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Speaker 1: with the switch from the big banks to the blue

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Speaker 1: chip miners gaining steam.

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Speaker 2: The easiest way to demonstrate that is to look at

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Speaker 2: what happened on the market yesterday. Come on, Fank, National

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Speaker 2: Australia Bank ains ed all fell around two and a

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Speaker 2: half percent, West Packing around three and a half percent.

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Speaker 2: In contrast, BHP rose nearly one percent and fortesqu were

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Speaker 2: both up around one and a half percent. Best part

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Speaker 2: of the story that Michael is the reason the big

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Speaker 2: miners did well. Over the weekend, Chinese President Li Kwang

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Speaker 2: launched construction of the two hundred and fifty billion dollar

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Speaker 2: hydro power project on a river in the southwest of

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Speaker 2: the country. Needs to bet the project will consist of

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Speaker 2: five cascade dams. It'll be the world's largest hydro facility.

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Speaker 2: Not university welcomed. Few people in an Indian and Bangladesh

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Speaker 2: worried about the water suply and environmental impact on those countries,

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Speaker 2: but it will provide a positive jolt for construction materials,

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Speaker 2: including metals cement, glass that helped iron or futures. They

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Speaker 2: reached one hundred and four US dollars a ton, the

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Speaker 2: highest since March. As a result, the miners jump sharply,

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Speaker 2: notwithstanding that the S and PISX two hundred ended down

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Speaker 2: more than one percent yesterday to eighty six hundred and

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Speaker 2: sixty eight points.

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Speaker 1: So is it real? Is the big switch from the

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Speaker 1: banks to the miners real? Because we talked about it

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Speaker 1: almost kind of three weeks ago. Has it happened? Is

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Speaker 1: it continuing? What's going on?

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Speaker 2: You never know until it's happened, But probably over the

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Speaker 2: past month comonwealth banks share prices down four percent, NABS

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Speaker 2: off two percent, West Pass one percent. There's actually about

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Speaker 2: six percent the exception to the rule there, but the

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Speaker 2: HP up thirteen percent, RHEAS up thirteen percent, fours U

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Speaker 2: is up twenty percent. On that basis, it's pretty clear

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Speaker 2: the big switch from banks to minus has continued, probably

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Speaker 2: a bit broader as well. From the healthcare companies sees

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Speaker 2: Cell Cockli have done pretty well too. Okay.

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Speaker 1: Story number two, This is a good news story. For

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Speaker 1: the first time in eight years, Sean, there's been an

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Speaker 1: increase rather than a decrease in funds under management in

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Speaker 1: amp's Superannuation and Investments division.

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Speaker 2: The one time blue chip reported a sharp improvement in

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Speaker 2: cash flows across its core business. Finally, some good news.

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Speaker 2: The groups of Peranuation Investments Division said net inflators were

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Speaker 2: up thirty three million dollars. Great, the first positive since

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Speaker 2: the second quarter of twenty seventeen. Amazing they've been able

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Speaker 2: to operate, if you think of it that way. At

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Speaker 2: the bank, amp's loan book edge high to twenty three

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Speaker 2: and a half billion dollars. Deposits remained broadly steady. IMP

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Speaker 2: share prices up ten percent yesterday. It's now approaching the

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Speaker 2: highs of early February.

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Speaker 1: Story number iree. The federal parliamentary battle has begun, with

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Speaker 1: Prime Minister Anthony Albernizi calling the opposition the no Adition

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Speaker 1: and Liberal leader Susan Lee is saying that she will

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Speaker 1: fight the government every step of the way on crucial issues,

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Speaker 1: including tax reform.

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Speaker 2: The way you said no elition sounded very Donald Trump,

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Speaker 2: did do you mean to I? An easy who walked

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Speaker 2: to work yesterday with his son Nathan said would have

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Speaker 2: a positive agenda and then became negative, calling the opposition

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Speaker 2: and nolition. The PM was supremi confident, really, saying the

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Speaker 2: party could grow its huge majority. They did warn his

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Speaker 2: caucus against Tubris. He said, voters don't expect perfection. The

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Speaker 2: world will throw things at us, but and I quote,

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Speaker 2: they expect that we will put them first rather than

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Speaker 2: be focused internally on what goes on in this building. Meanwhile,

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Speaker 2: Susan Lee addressed the Joint Coalition pay room called on

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Speaker 2: the members and senators to be the best opposition possible.

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Speaker 2: All that came after a news poll in The Australian

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Speaker 2: showed that the support for the opposition has fallen to

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Speaker 2: its lowest point in forty years.

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Speaker 1: Story number four. Costco Sean is emerging as a serious

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Speaker 1: player in the local grocery sector, with the US retailer

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Speaker 1: hitting sales annual sales of around five billion dollars a

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Speaker 1: year in Australia.

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Speaker 2: The sector in total is about one hundred and twenty

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Speaker 2: billion dollars. It's dominated by Willis and Coles, but more

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Speaker 2: and more people are signing up to Costco's membership model member.

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Speaker 2: As it turns out, Costco now operates from fifteen local stores,

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Speaker 2: causing warehouses believed to we have attracted about one hundred

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Speaker 2: thousand paid up members per store. That's one point five

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Speaker 2: million membership base. According to a story in the Australian,

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Speaker 2: Costco arrived in Australia in two thousand and nine, sells

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Speaker 2: bulk groceries very competitive prices. The idea is you only

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Speaker 2: have to go to the grocery store once a month

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Speaker 2: by up in bulk.

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Speaker 1: Finally, story number five, the London Stock Exchange is weighing

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Speaker 1: up whether to introduce twenty four hour trading in response

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Speaker 1: to growing demand from small investors.

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Speaker 2: The operator of London's bosses holding discussions about whether to

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Speaker 2: extend its hours, including to round the clock trading. According

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Speaker 2: to the FT, it's looking into the practicalities of such

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Speaker 2: a mood, including the technology required regular implications. Exchanges globally

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Speaker 2: are deliberating whether to widen their trading windows, so the

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Speaker 2: New York Stock Exchange, for example, Nazek there will apply

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Speaker 2: to extend their trading hours. Spare a thought for those

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Speaker 2: poor investors that ain't get a break, no sleep.

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Speaker 1: There we go to the top five business stories in

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Speaker 1: five minutes.

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Speaker 2: Thank you Sean, Thank you Michael.

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Speaker 1: It is Tuesday, the twenty second of July twenty twenty five.

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Speaker 1: Remember to hit follow on the podcast, and if five

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Speaker 1: minutes isn't enough, you can find it a longer daily

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Speaker 1: show called Fear and Greed wherever you listen to podcasts.

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Speaker 1: I'm Michael Thompson and that was the fast five business

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Speaker 1: news by Fear and Greed. Have a great day.