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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. I'm Michael Thompson and Hello

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Speaker 1: Sean Aylmer.

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Speaker 2: 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 though

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Speaker 1: we still keep it to five minutes. But we're going

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Speaker 1: to pick out the biggest business story, not of the

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Speaker 1: week this week, but of the financial year, because we

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Speaker 1: are rapidly closing in on the end of the financial year,

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Speaker 1: so we are taking a year long look. Here, Sean,

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Speaker 1: the biggest business story of the year, the most remarkable

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Speaker 1: business story. Ay A mystery category changes every week, and

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Speaker 1: then our favorite story. Let's jump straight into it. Can

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Speaker 1: I start with the biggest?

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Speaker 2: Please go for it?

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Speaker 1: So I reckon it was probably the Liberation Day tariffs

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Speaker 1: announced by Donald Trump's because they just had such a

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Speaker 1: massive impact on global trade, basically up ended the normal order,

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Speaker 1: the way that things normally work, from Australia's ten percent

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Speaker 1: through to forty nine percent on Cambodia, pretty much everyone

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Speaker 1: else kind of falling in between. The market reaction was huge,

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Speaker 1: s and P five hundred was down something like eight percent,

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Speaker 1: in a couple of days, nasdack down even more. Local

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Speaker 1: BOSS had its worst fall one day fall since the pandemic.

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Speaker 1: Then Trump paused the reciprocal tariffs. Markets rebounded. The trade war,

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Speaker 1: though with China was on both sides piling up the tariffs.

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Speaker 1: Deals being negotiated everywhere, some deals being done. End result,

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Speaker 1: the entire world operating in a bit of a state

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Speaker 1: of uncertainty now, Sean and who knows that uncertainty might

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Speaker 1: go for another three and a half years, could well do.

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Speaker 2: My biggest business story was actually the biggest political story

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Speaker 2: in the country. It was the shelacking that Labor gave

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Speaker 2: the Coalition in the federal election. In fact, Labour now

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Speaker 2: has ninety four seats in the House of Representatives, up

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Speaker 2: from seventy seven. The coalition went from fifty eight to

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Speaker 2: forty three. They are around ten deals in the House

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Speaker 2: of Reps compared to nine last time. At the end

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Speaker 2: of the day, this Labor government will get re elected

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Speaker 2: next time around. Why it's the biggest story of the

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Speaker 2: year is that for nine years we are likely to

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Speaker 2: have a Labour government and whether you like it or not,

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Speaker 2: government make policy. You think this government hextebt new apprenticeships,

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Speaker 2: higher taxing of super lower health cots and medicare, more

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Speaker 2: aged care workers, fiscal policy, who runs government is important,

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Speaker 2: the fact that labor did so well in the last election.

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Speaker 2: Whether you like it or not, they are all powerful

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Speaker 2: at the moment.

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Speaker 1: Yeah, good story, Okay, moving on to most remarkable.

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Speaker 2: What was it for you for the year markets? We

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Speaker 2: had all the turmoil you were talking about, yet the

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Speaker 2: S ANDPA SX two hundred hit an all time record

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Speaker 2: high of eighty six hundred and thirty nine points. Recently,

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Speaker 2: how about coamof bank three hundred and five billion dollars,

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Speaker 2: the same size as the others three combined. The big

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Speaker 2: mine has had a tough year. Tell Astra had a

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Speaker 2: great year. Bitcoin, Well, you don't go near that in

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Speaker 2: times of uncertainty. Hah. That's been turned on its head.

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Speaker 2: Trading around one hundred and one thousand US dollars a unit.

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Speaker 2: Gold went to record levels. Flip side there. Cole lithium

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Speaker 2: did year's Dousi dollar didn't actually do a lot during

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Speaker 2: the last twelve months. Quite a year for markets.

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Speaker 1: A quick mention of another one out of the US

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Speaker 1: here shown the role of the world's richest person in

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Speaker 1: cutting government spending for the world's most powerful person. We

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Speaker 1: had Elon Musk Tesla boss taking on the head, taking

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Speaker 1: on the job as head of DOGE, the Department of

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Speaker 1: Government Efficiency, promising to save US taxpayers something like two

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Speaker 1: trillion dollars in spending. Became the President's right hand man.

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Speaker 1: It was in over office, press conferences and cabinet meetings.

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Speaker 1: They did a Tesla sales stunt in front of the

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Speaker 1: White House. It was all going so well until it

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Speaker 1: wasn't lasted what less than five months, till it all

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Speaker 1: just blew up and just that those two it was

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Speaker 1: a bromance gone horribly, horribly wrong. But it was spectacular

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Speaker 1: to watch for what were for the time that it

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Speaker 1: was working. It was a glorious and quite strange thing

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Speaker 1: to watch. All right, let's move on to the mystery category,

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Speaker 1: which this week is is kind of the big trends,

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Speaker 1: A big trend that's worth noticing.

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Speaker 2: What did you like the fact that we just aren't

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Speaker 2: talking as much about the environment and any energy transition,

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Speaker 2: so many other things they are going on. Yet we

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Speaker 2: still have global warming, we still have melting glaciers, we

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Speaker 2: still have ice sheets moving. In fact, very recently the

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Speaker 2: Department of Climate Change, Energy, the Environment and Water here

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Speaker 2: talked about our sea service temperatures increasing, talking about sea

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Speaker 2: levels rising, risk of inundation and damage to coastal infrastructure

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Speaker 2: and communities. It is all still going on, yet the

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Speaker 2: government is more pragmatic about it. They've said yes to

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Speaker 2: Browse based in Yester Northwest Shelf. They're big gas projects. Certainly,

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Speaker 2: if we don't have gas, we don't can't transition to

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Speaker 2: renewables without having blackouts, so that's kind of the price

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Speaker 2: you're paying. It's just interesting that the environmental debates sort

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Speaker 2: of been forgotten. That's probably overstating it over the last

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Speaker 2: twelve months. But I think it'll come back and we'll

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Speaker 2: hear more and more about it as we go forward.

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Speaker 1: Yeah, I think that's completely fair. The other big trend

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Speaker 1: is the continued rise and rise and rise of AI. Obviously,

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Speaker 1: chat GPT was released in November of twenty twenty two,

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Speaker 1: and it feels like it's been around for decades now

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Speaker 1: because it's just become part of everyday life for so

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Speaker 1: many people at work. They use it in the office.

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Speaker 1: There's kind of these are minor efficiency improvements in many cases,

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Speaker 1: but we have people like Microsoft. Companies like Microsoft talking

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Speaker 1: about the rise of the AI agents, which is going

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Speaker 1: to entirely upend the structure of the workplace, Companies like

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Speaker 1: Telstra and Amazon predicting job losses. Other companies working on

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Speaker 1: it too, with deep Seek that announced its app that

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Speaker 1: uses substantially less power. Apparently that happened only a few

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Speaker 1: months ago. We are in an AI arms race at

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Speaker 1: the moment, Sean, and this is a trend that we

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Speaker 1: will be seeing and talking about for a long time

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Speaker 1: to come.

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Speaker 2: Sure is now can actually my favorite news story of

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Speaker 2: the year, Yes, please, very brief. It only happened about

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Speaker 2: a week ago at the G seven. Georgia Milani's eye

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Speaker 2: roll when she was talking to Emmanuel Macron at the

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Speaker 2: table was Donald Trump. Don't know what they were talking about,

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Speaker 2: but wow, it looked like Emanuel Macron was telling her

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Speaker 2: a story about Donald Trump and her eye roll spectacular.

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Speaker 2: Favorite story of the year because it kind of encapsulates

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Speaker 2: a year.

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Speaker 1: I love that now. The other one I love obviously

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Speaker 1: has to be a space story. Sean SpaceX launching at

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Speaker 1: starship vehicle into space, then catching the booster rocket again

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Speaker 1: using a giant arm on the landing patterns. It's straight

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Speaker 1: out of science fiction because the booster rocket's twenty three

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Speaker 1: stories tall and it just kind of lowers itself down

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Speaker 1: and then the arm catches it out of the sky.

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Speaker 1: And they've done it again and again and again, proving

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Speaker 1: that they can do it repeatedly. Obviously, SpaceX needs to

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Speaker 1: hang on to that success because they've had a few

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Speaker 1: explosions lately. But I mean it does just show what

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Speaker 1: is possible, and I think that is pretty incredible.

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Speaker 2: Yeah, amazing story that one.

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Speaker 1: All Right, there we go, Sean five minutes and pretty

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Speaker 1: much everything you need to know in the world of

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Speaker 1: business from the last year. Thanks Sean, Thanks Michael. We'll

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Speaker 1: be back on Monday morning with the top five business

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Speaker 1: stories in five minutes. Don't forget to hit follow and

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Speaker 1: join us online on Instagram, TikTok, LinkedIn, Facebook and X.

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Speaker 1: I'm Michael Thompson and this is the Fast five Business

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Speaker 1: News by Fear and Greece.