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Speaker 1: It's Monday, the thirteenth of October twenty twenty five. 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. Good morning, Michael, Sean. Five

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Speaker 1: stories in five minutes. Let's go a story. Number one.

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Speaker 1: Reserve Bank Governor Michelle bullerch has given the labor market

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Speaker 1: her tick of approval, adding that it is a little

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Speaker 1: bit tight in some areas and the Central Bank expects

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Speaker 1: the unemployment rate to drift a bit higher over the

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Speaker 1: rest of the year.

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Speaker 2: She said that services inflation was still a little sticky,

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Speaker 2: but that it was being offset by slightly lower goods inflation.

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Speaker 2: The governor also expects the private sector to take over

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Speaker 2: from the public sector as the driver of economic growth.

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Speaker 2: In recent years, government spending has filled the gap. That's

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Speaker 2: likely to change. There's going to be a switch, Michelle

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Speaker 2: Bullock says, between from public to private sector demand. She

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Speaker 2: was also upbeat about consumption, saying it was a bit

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Speaker 2: better than expected. She didn't say it, but high consumption

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Speaker 2: is also the reason why the Reserve bank sounds just

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Speaker 2: a little cool on future interst rate cuts and the

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Speaker 2: construction sector a big employer also a big booster to

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Speaker 2: the overall economy. It remained sluggish, she said, adding that

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Speaker 2: the government policy to allow first time buyers to purchase

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Speaker 2: the home with a five percent deposit could push up

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Speaker 2: house prices. Bullet was speaking before sending estimates on Friday,

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Speaker 2: and ahead of a bump a week for economic news

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Speaker 2: with speeches from her other Reserve Bank senior management or

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Speaker 2: also scheduled to speak along with the labor force figures.

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

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Speaker 1: Sean and Bitcoin, having reached a new record last week,

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Speaker 1: experienced its biggest one day selloff ever over the weekend.

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Speaker 1: Leased in dollar terms.

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Speaker 2: The markets are fickle, aren't they. Just days after touching

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Speaker 2: a record high, bitcoin fell twelve percent from one hundred

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Speaker 2: and twenty five thousand newest dollars a unit to less

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Speaker 2: than one hundred and thirteen thousand newest dollars a unit.

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Speaker 2: Some describe the selloff as the largest liquidation event in

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Speaker 2: crypto history. In a twenty four hour period, bets worth

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Speaker 2: more than nineteen billion dollars were wiped out. More than

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Speaker 2: one point six million traders liquidated as in, they sold out.

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Speaker 2: That's according to coin glass data. More than seven billion

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Speaker 2: dollars of those positions were sold in less than one

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Speaker 2: hour of training. Pretty incredible.

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Speaker 1: Sean story number three. Quantus says five point seven million

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Speaker 1: customer records have been leaked on the dark web as

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Speaker 1: part of a major hacking program from international cyber criminal

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Speaker 1: group Scattered Lapsos Hunters. And that's with a dollar sign

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Speaker 1: at the end of Lapsous. It's affected data from thirty

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Speaker 1: nine clients of sales Force.

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Speaker 2: The hackers demanded sales Force pay a ransom IT reviews

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Speaker 2: to do so and say the information has been leaked.

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Speaker 2: The hack has also compromised sales Force corporate accounts for

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Speaker 2: other major companies including Toyota, Google, AdSense, Cisco, chanell Ikea, McDonald's, KFC,

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Speaker 2: Marriott Disney. They called the it help Desks, posed as

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Speaker 2: employees and gained access to the systems. Quantas said the

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Speaker 2: majority of customer records were limited to name, email addresses,

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Speaker 2: and frequent fly details. A smaller portion also included business

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Speaker 2: or home address, date of birth, phone number, gender, and

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Speaker 2: meal preferences, no credit card details, personal financial information or

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Speaker 2: passport details were impacted, according to Quantas.

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Speaker 1: Story number four, Victoria will legislate to criminalize aggression towards retail,

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Speaker 1: hospitality and transport workers. Following pressure from major retailers and

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Speaker 1: unions to introduce workplace protection orders as part of a

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Speaker 1: crackdown on a surgeon retail crime.

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Speaker 2: The Alan government met with the unions representing retail and

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Speaker 2: transport workers to brief them on the proposed laws. According

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Speaker 2: to the IFR, under the legislation, the penalty for some

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Speaker 2: re offenses will double from three to six months. Also,

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Speaker 2: bringing cases of serious assault to court as indictable offenses

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Speaker 2: with up to five years jail will be made easier,

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Speaker 2: but it won't include what's done As workplace protection orders

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Speaker 2: their akin to personal safety intervention orders that protect victims

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Speaker 2: of family violence. Now Act is the only jurisdiction to

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Speaker 2: have workplace protection orders, and Canberra says that if you

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Speaker 2: know retail stores gather evidence such as staff for witness statements,

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Speaker 2: security camera footage, apply to a magistrate, you can ban

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Speaker 2: someone for twelve months and Canberra stores claim that they

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Speaker 2: have resulted in a big drop in aggression by customers.

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Speaker 1: Wow okay. Last one story number five. Penfold's latest vintage

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Speaker 1: of Grange Hermitage is driving records sales for the winemaker

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Speaker 1: at liquor retailers after the drop achieved a perfect one

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Speaker 1: hundred point score from wine tasters.

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Speaker 2: Enthusiasm for Penfiles is spanning from the highly affordable Bin

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Speaker 2: twenty eight to Grange. According to Dan Murphy's and Cole's Liquor.

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Speaker 2: As reported in the OS new release, Grange is one

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Speaker 2: thousand dollars a bottle Bin twenty eight about fifty bucks

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Speaker 2: a bottle. The twenty twenty five Penfolds lineup and veiled

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Speaker 2: in August has been welcomed, particularly since many prices haven't

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Speaker 2: changed since last year. Michael. According to the media report,

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Speaker 2: the latest vintage has broken all thirst day sales records

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Speaker 2: in Australian e commerce channels and Grange sold more in

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Speaker 2: a single month than ever before.

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

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Speaker 1: in five minutes. Thank you very much, Sean, Thank you, Michael.

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Speaker 1: It is Monday, the thirteenth of October twenty twenty five,

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Speaker 1: remembered hit follow on the podcast and in five minutes

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Speaker 1: just isn't enough for you. You're going to find our

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Speaker 1: longer daily show called Fear and Greed where if you

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Speaker 1: listen to podcasts, I'm Michael Thompson and that was the

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Speaker 1: fast five business news by Fear and Greed. Have a

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Speaker 1: great day.