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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. Oh Michael Thompson and Hello.

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Speaker 2: Sean Ailmer, Hello Michael Sean.

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Speaker 1: On weekdays, it's all about the Fast five, the top

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Speaker 1: five business stories in five minutes. On the weekend, we

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Speaker 1: still keep it to five minutes, but we're going to

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Speaker 1: pick out the biggest business story of the week, the

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Speaker 1: most remarkable story, a sleeper story, one that's flying under

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Speaker 1: the radar, and our favorite story. Let's jump straight into it.

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Speaker 1: What was the biggest story this week?

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Speaker 2: Look, I think the biggest story of the week is

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Speaker 2: what's going on in the Middle East. The region is

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Speaker 2: close to all out war. Israel ground troops pushed into Lebanon.

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Speaker 2: More than two hundred Iranian ballistic missiles were then launched

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Speaker 2: against Israel, followed by the Israeli Defense Force striking Beirute,

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Speaker 2: a humanitarian crisis. The Albanezi government is working to get

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Speaker 2: seventeen hundred Australian citizens and residents and their families out

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Speaker 2: of Lebanon. It's affected oil prices. They're rising. We're going

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Speaker 2: to feel that at the Bowser shortly. It's put a

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Speaker 2: lid on the jump in the Aussie dollar that's back

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Speaker 2: down below sixty nine US since it's also kept the

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Speaker 2: lid on equity markets too, bitcoins come off, gold is

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Speaker 2: up plenty going on there. It's a humanitarian crisis and

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Speaker 2: certainly affecting business. Yeah.

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Speaker 1: Indeed, there was a couple of developments as well at

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Speaker 1: home this week, Sean and the housing market. There were

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Speaker 1: two kind of main main features here. We had house

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Speaker 1: price growth in several major cities, including Melbourne, stalling. The

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Speaker 1: property marketer is cooling on the back of ongoing high

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Speaker 1: interest rates. In the first month of spring, dwelling values

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Speaker 1: rose by just zero point four percent, taking the September

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Speaker 1: quarter rise to one percent. The other big development this

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Speaker 1: week was actually in the rental market, where we saw

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Speaker 1: annual rent increases for houses hitting multi year lows in Sydney, Melbourne, Brisbane,

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Speaker 1: Perth and Adelaide. Melbourne and Canberra rents have actually gone backwards,

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Speaker 1: so there may be maybe the first indication that the

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Speaker 1: rental boom is drawing to a close. Perhaps rents are

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Speaker 1: still extremely extremely high, but maybe some signs of hope

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Speaker 1: they're Sean, let's have.

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Speaker 2: Said, can't telling my most remarkable story, please do? It

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Speaker 2: is the great rotation into resource stocks from bank stocks,

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Speaker 2: typified by the fact that BHP is now the number

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Speaker 2: one company on the AX in terms of market cap

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Speaker 2: TJO hundred and thirty billions taken over from Commonwealth Bank.

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Speaker 2: BHP is up all in all, the big three miners

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Speaker 2: are up twelve to fifteen percent since the middle of

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Speaker 2: last week. The banks have dropped off. It's all on

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Speaker 2: the back of commentary from Beijing saying they're going to

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Speaker 2: stimulate that particular economy. The bank's just a little bit

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Speaker 2: out of favor. Quite phenomenal how that shift from bank

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Speaker 2: stocks to resources has played out over the past week

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Speaker 2: or so.

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Speaker 1: Another remarkable story Seawan was the way Virgin Australia finished

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Speaker 1: the week in a much stronger position than it started.

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Speaker 1: And Quantus is actually the one that's kind of to

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Speaker 1: blame for it. Because Qatar Airways has agreed to buy

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Speaker 1: twenty five percent of Virgin from its private equity owner,

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Speaker 1: Bay and Capital. Basically, Virgin's now going to be able

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Speaker 1: to start doing long haul international routes again using Katar's planes.

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Speaker 1: It's still got to be reviewed and approved and everything,

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Speaker 1: but it's looking pretty good. It's going to be great

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Speaker 1: news for passengers, more competition in the long haul market.

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Speaker 1: But that quantum element right that I mentioned. The fact

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Speaker 1: is that Quantus lobbied hard against Katar always being allowed

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Speaker 1: to have extra flights into and out of Australia last year,

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Speaker 1: and the government sided with Quantas over that one. Well,

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Speaker 1: now Katar has actually got plenty of extra flights now

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Speaker 1: through its Virgin purchase. They don't need to be approved separately.

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Speaker 1: So Qatar has had to win here, Virgin has had

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Speaker 1: to win here, the passengers have how to win here,

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Speaker 1: and Quantus has really had a bit of a loss.

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Speaker 1: I think that's pretty remarkable.

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Speaker 2: I think it is remarkable. Can I tell you my

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Speaker 2: sleepest story for the week. Yes, yes, it's how fast

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Speaker 2: the hydrogen energy sector is going backwards, as demonstrated by

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Speaker 2: Origin Energy's decision to pull the plug on its investments

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Speaker 2: in the technology. Hydrogen has been lauded as a clean

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Speaker 2: energy source, particularly in heavy industry transport that type of stuff.

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Speaker 2: Problem is, it's expensive and the technology breakthroughs aren't happening

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Speaker 2: fast enough. Forest few Metals it pulled out or dropped

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Speaker 2: plants for green hydrogen production a couple of months ago,

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Speaker 2: and now we've got origin energy. The Albanezy government has

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Speaker 2: pushed billions of dollars to try and encourage it. I'm

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Speaker 2: not sure who's going to take advantage of those text

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Speaker 2: credits and those subsidies because all the big players are

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Speaker 2: pulling out. I think it's just interesting that we're not

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Speaker 2: talking a lot about the fact that hydrogen does not look,

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Speaker 2: at least in the knee term, to be an energy

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Speaker 2: of the future.

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Speaker 1: That's a good sleeper story, Sean. Can I give you

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Speaker 1: my favorite story, and I'll do this very very quickly.

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Speaker 1: It is the fact that vintage shopping is booming and

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Speaker 1: we're really talking about secondhand close here, aren't we. And

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Speaker 1: in Australia think kind of Vini's and the Salvos and things.

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Speaker 1: But in the US it is just going nuts. At

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Speaker 1: the moment, sales are growing at seven times the pace

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Speaker 1: of the broader retail industry. Demand is so strong that

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Speaker 1: big retailer is like Banana Republic and H and M

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Speaker 1: and Lulu Lamon, et cetera. They're all getting into it

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Speaker 1: and they are all now selling pre loved clothes. How

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Speaker 1: long shan before this kind of trend starts to spread

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Speaker 1: to Australia.

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Speaker 2: I reckon.

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Speaker 1: It's mere weeks.

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Speaker 2: I got a quick nomination for my favorite story from Japan.

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Speaker 2: This is the gym group called Chocko's App, which actually

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Speaker 2: emphasizes everything but getting fit. Things like teeth widening, many cures,

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Speaker 2: photo booth. There's also gym equipment. Basically, they were high

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Speaker 2: end personal training group. Covid Hit realized they needed to

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Speaker 2: go to the masses, cut prices down to about twenty

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Speaker 2: five percent of what they were Now over two years,

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Speaker 2: fifteen thousand locations, one point two million plus members. Phenomenal

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Speaker 2: people are turning up in droves and not working out.

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Speaker 2: I love the idea of having a gym membership where

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Speaker 2: you don't get fit.

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Speaker 1: Yeah, it's a gym group in name only.

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Speaker 2: Isn't it exactly?

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Speaker 1: Great story? 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, Facebook and

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Speaker 1: x are Michael Thompson and this is the Fast five

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Speaker 1: Business News by Pier and Greet