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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. A'm Michael Thompson and Hello

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Speaker 1: Sean Aylmer. Hello Michael Sean. 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,

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Speaker 1: but we are going to pick out the biggest business

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

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Speaker 1: category that changes every week, and then our favorite business

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Speaker 1: ish story. Let's jump into what was the biggest story

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Speaker 1: directing this week?

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Speaker 2: I think it was the economy. We had the Reserve

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Speaker 2: Bank come out the minutes from the board meeting of

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Speaker 2: a couple of weeks ago, making it very clear that inflation,

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Speaker 2: the labor market, and what's going on overseas are the

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Speaker 2: key factors about whether or not interest rates will fall.

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Speaker 2: We know plenty going on overseas, love turmoil. On that,

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Speaker 2: we had the unemployment figures out this week a surprising,

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Speaker 2: well sorry, thirty two thousand people found a job. Good news,

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Speaker 2: not as high as we thought given the previous month

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Speaker 2: fifty three thousand had lost jobs. Unemployment rate about four

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Speaker 2: point one percent. Put all that together, most market economists

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Speaker 2: reck in the Reserve Bank will cut rates when they

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Speaker 2: meet on May twenty. Big week for the economy, Michael.

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Speaker 1: Yeah, a big story that one. Another big story this

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Speaker 1: week the election campaign. It's finally kind of getting the

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Speaker 1: attention that it deserves. It's been overshadowed by tariffs and

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Speaker 1: Donald Trump and everything for the last couple of weeks.

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Speaker 1: We passed the halfway point this week, just two weeks

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Speaker 1: to go. Big week for political events though as well,

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Speaker 1: because we had the party launchers for both Labor and Libs.

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Speaker 1: Saw the second debate between the leaders, which was a

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Speaker 1: much more spirited affair, and it feels like you're finally

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Speaker 1: getting a sense of who these two leaders are, Anthony

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Speaker 1: Albanezi and Peter Dutton, what they stand fort housing policy

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Speaker 1: being debated. It had energy policy for the Liberals, health

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Speaker 1: care for Labor. We had a lot of talk about

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Speaker 1: Russian jets about whether or not they were going to

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Speaker 1: be stationed in Indonesia within what thirteen hundred or fourteen

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Speaker 1: hundred k's of Darwin and a bit of a gaf

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Speaker 1: there from Peter Dutton when he said that the Indonesian

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Speaker 1: president had talked about it and he hadn't anyway. The

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Speaker 1: jets aren't coming, it seems, but it's still got a

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Speaker 1: lot of attention through the week, jam packed week full

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Speaker 1: of politics policy, and it feels like we've got a

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Speaker 1: sense of who the two leaders are now.

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Speaker 2: Shawn, I agree, Michael.

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Speaker 1: Most remarkable story what did you like here?

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Speaker 2: Look for me the fact that markets were actually calm

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Speaker 2: this week. Given everything we've been through in the past

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Speaker 2: month or so, and given Donald Trump's preponderance to tweet,

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Speaker 2: which he probably did less of this week, markets were

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Speaker 2: really calm. Now. The standout was gold golded in New

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Speaker 2: high gold stocks did well. There's also confirmation that Northern

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Speaker 2: Star is likely to get degray minings of five billion

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Speaker 2: dollar takeover. But outside that goal sector just not a

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Speaker 2: lot going on. The market will close up around two

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Speaker 2: percent for the week. That's a pretty good effort given

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Speaker 2: the turmoil we've seen over last month.

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Speaker 1: That is remarkable. The other remarkable thing, though, was the

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Speaker 1: ruling this week by the Fair Work Commission pay rises

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Speaker 1: of up to thirty percent for hundreds of thousands of

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Speaker 1: early childhood workers and health professionals. The thing is shown

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Speaker 1: these are industries dominated by women, and the rulings are

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Speaker 1: part of an effort to fix the gender pay imbalances.

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Speaker 1: It's just getting started, though, because unions are now flagging

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Speaker 1: off the back of this one. Other cases for clothing,

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Speaker 1: retail workers, for flight cabin crew, for hairdressers, for receptionists

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Speaker 1: has already claimed before the Commission for up to thirty

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Speaker 1: five percent for nurses in private hospitals. It's remarkable because

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Speaker 1: it's long overdue and finally we are starting to catch

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Speaker 1: up with where we should be. There is a long

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Speaker 1: way to go, obviously, but this was a big step

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Speaker 1: this week.

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Speaker 2: I agree, Michael. Can I tell you our mystery categories

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Speaker 2: retail story? And I reckon there's a cracker retail story

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Speaker 2: this week, and it's the fact that British retailer Phrases

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Speaker 2: is making an aggressive push into sport and fitness goods marketing.

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Speaker 2: Think Rebel. They planned away open one hundred sports direct stores,

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Speaker 2: putting some competition into the area. You know, I've got

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Speaker 2: a lot of kids, I spent a lot of money

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Speaker 2: on sporting goods. I'm very excited about this. Phrase is

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Speaker 2: a listed company in the UK owns brands including Slazenger

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Speaker 2: and Everlast. It will up at stake in shoe retailer Accent.

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Speaker 2: An Accent will actually run the sports direct stores here

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Speaker 2: and then pay a royalty back to Phrases. Phrases is

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Speaker 2: founded by billionaire Mike Ashley, former owner of football club

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Speaker 2: Newcastle United, opened his first store more than forty years

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Speaker 2: ago with the money you borrowed from his parents. Now

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Speaker 2: a billionaire, doing pretty well and putting some competition into

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Speaker 2: the Australian sports where market.

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Speaker 1: Yeah, that is a good one. Another good retail story

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Speaker 1: from this week Sean Goods Many Gomez Taco Bell. There's

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Speaker 1: a winner between the two of them in the Mexican

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Speaker 1: food fight, and it is not Taco Bell. The ASX

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Speaker 1: listed Colins Foods is selling the rights of the Taco

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Speaker 1: Bell chain here because really, GYGSUS has been too successful,

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Speaker 1: it's growing in. A strategic review found that Taco Bell

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Speaker 1: just doesn't have the cut through that it needs. So

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Speaker 1: Colin's Foods is going to sell the license to the

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Speaker 1: stores that it owns here and instead focus on growing

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Speaker 1: KFC in Germany. Sean Germany, Germany of all places, because

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Speaker 1: why not?

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Speaker 2: All right?

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Speaker 1: Favorite story? Can I nominate one for this?

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Speaker 2: I think there's only one. I think we're going to

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Speaker 2: think the same way here it is on.

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Speaker 1: It's about politics, and I know I had a lot

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Speaker 1: of politics already, but gaffes, there's no You cannot have

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Speaker 1: an election campaign without a couple of good gaffs, right,

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Speaker 1: and we had those this week. An air kiss that

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Speaker 1: wasn't a kiss, that wasn't even an embrace, that was

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Speaker 1: nothing really, it was just awkward between Tenure plusk and

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Speaker 1: Anthony Albanezi and that was just it got a lot

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Speaker 1: of headlines and again, any of these gafs, it takes

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Speaker 1: away from the substance of the debate and the substance

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Speaker 1: of the election campaign. Peter Dutton on the other side

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Speaker 1: of the Liberal Party using his twenty year old son

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Speaker 1: to talk about housing unaffordability and dodge the question about

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Speaker 1: whether the banker mum and dad would be helping helping

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Speaker 1: him out. When Peter Dutton himself has bought and sold

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Speaker 1: something like thirty million dollars worth of property over the

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Speaker 1: last few decades, of course he's going to help his

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Speaker 1: son out. He did confirm that the day after. But

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Speaker 1: again a bit of a gaff and an own goal

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Speaker 1: there for the Liberal Party showan sure was all right,

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Speaker 1: there we go five minutes and pretty much everything you

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Speaker 1: need to know in the world the business. Thank you Sean,

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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 and join us online on Instagram, TikTok, LinkedIn,

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

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Speaker 1: fast five business news. Back here and greet