1 00:00:03,920 --> 00:00:06,800 Speaker 1: It's Wednesday, the eleventh of March twenty twenty six. Welcome 2 00:00:06,800 --> 00:00:09,200 Speaker 1: to the Fast five Business News by Fear and Greed, 3 00:00:09,200 --> 00:00:11,040 Speaker 1: where we give you the top five business stories you 4 00:00:11,080 --> 00:00:13,560 Speaker 1: need to know in just five minutes. I'm Michael Thompson 5 00:00:13,600 --> 00:00:17,400 Speaker 1: and good morning Sean. Ailmuk Wood. Morning Michael, Sean five 6 00:00:17,440 --> 00:00:20,880 Speaker 1: stories five minutes. Before we get to that, please make 7 00:00:20,920 --> 00:00:23,239 Speaker 1: sure you hit follow on the podcast the If you're 8 00:00:23,280 --> 00:00:26,360 Speaker 1: listening through Spotify and you're listening through your daily drive playlist. 9 00:00:26,600 --> 00:00:29,880 Speaker 1: Next week that playlist disappears, it will potentially get harder 10 00:00:29,880 --> 00:00:32,280 Speaker 1: to find us. Hit follow. Make it nice and easy. 11 00:00:32,320 --> 00:00:36,320 Speaker 1: Story Number one. The local share market rebounded yesterday, Sean 12 00:00:36,320 --> 00:00:38,519 Speaker 1: from itself off earlier in the week, with the SMPA 13 00:00:38,640 --> 00:00:40,920 Speaker 1: SEX two hundred closing up more than one percent to 14 00:00:41,000 --> 00:00:44,120 Speaker 1: eighty six hundred and ninety two points. It means that 15 00:00:44,200 --> 00:00:47,440 Speaker 1: about thirty four billion dollars of the ninety billion dollars 16 00:00:47,440 --> 00:00:50,280 Speaker 1: in value that have been wiped out on Monday has 17 00:00:50,280 --> 00:00:51,000 Speaker 1: now returned. 18 00:00:51,200 --> 00:00:53,320 Speaker 2: That's right. The rise came after you, as President Donald 19 00:00:53,320 --> 00:00:56,880 Speaker 2: Trump suggested the war against Iran could end soon, and 20 00:00:56,960 --> 00:00:59,080 Speaker 2: all prices very quickly fell back. 21 00:00:59,080 --> 00:01:00,680 Speaker 1: Blow dollars a barrel. 22 00:01:00,760 --> 00:01:03,400 Speaker 2: Trump said the military operation was they quote very far 23 00:01:03,760 --> 00:01:06,600 Speaker 2: end quote ahead of its initial four to five week timeframe. 24 00:01:06,680 --> 00:01:09,680 Speaker 2: And problem, it's really hard to know whether that's true. Basically, 25 00:01:09,720 --> 00:01:12,479 Speaker 2: market's being driven by whatever headline is loudest. Trump tends 26 00:01:12,480 --> 00:01:15,720 Speaker 2: to be noisier than most. Therefore what he says matters. 27 00:01:15,800 --> 00:01:17,800 Speaker 2: After saying the conflict could be over soon, he then 28 00:01:17,920 --> 00:01:20,760 Speaker 2: went on social media to say, I quote, if Iran 29 00:01:20,800 --> 00:01:22,880 Speaker 2: does anything that stops the flow of oil within the 30 00:01:22,920 --> 00:01:25,520 Speaker 2: Strait of Homus, they will be hit by the United 31 00:01:25,560 --> 00:01:27,720 Speaker 2: States of America twenty times harder than they have been 32 00:01:27,800 --> 00:01:31,720 Speaker 2: hit thus far. So following that post, the market lost 33 00:01:31,720 --> 00:01:33,600 Speaker 2: ground again because that doesn't sound like the war's about 34 00:01:33,600 --> 00:01:36,720 Speaker 2: to be over anyway. A very difficult market to. 35 00:01:36,680 --> 00:01:40,640 Speaker 1: Read, very very volatile. What led the local market high? Yes, 36 00:01:40,760 --> 00:01:43,760 Speaker 1: it looks like the tech stocks had it done pretty well. 37 00:01:43,840 --> 00:01:45,880 Speaker 2: Yeah they did. That mean, textocks have really been sold 38 00:01:45,880 --> 00:01:48,440 Speaker 2: off this year. But companies like Live three sixty, Technology one, 39 00:01:48,480 --> 00:01:50,960 Speaker 2: WISTI Global did well yesterday. Say to the big miners 40 00:01:51,000 --> 00:01:54,960 Speaker 2: BHPS and the lithium guys gold, it's a hard one. 41 00:01:55,000 --> 00:01:57,480 Speaker 2: I mean, they've been sold off in this time of uncertainty, 42 00:01:57,560 --> 00:01:59,920 Speaker 2: This doesn't really make sense what I just said. Then 43 00:02:00,000 --> 00:02:02,160 Speaker 2: they're not supposed to be sold off in times of uncertainty, 44 00:02:02,360 --> 00:02:05,040 Speaker 2: but they have been. Then gold price has stabilized around 45 00:02:05,080 --> 00:02:07,600 Speaker 2: fifty one to fifty US dollars an ounce, having fallen 46 00:02:07,640 --> 00:02:11,120 Speaker 2: from their peaks, and suddenly investors are buying gold companies again. Anyway, 47 00:02:11,200 --> 00:02:13,280 Speaker 2: energy stocks, which searched on Monday, got a bit of 48 00:02:13,360 --> 00:02:16,600 Speaker 2: a reality check yesterday. Companies like Woodside, Santo's Crew, and 49 00:02:16,680 --> 00:02:17,560 Speaker 2: Energy were all lower. 50 00:02:17,880 --> 00:02:19,520 Speaker 1: All right, let's move on to story number two. In 51 00:02:19,520 --> 00:02:23,239 Speaker 1: Australia is getting more involved in the conflict. We had 52 00:02:23,520 --> 00:02:25,880 Speaker 1: US President Donald Trump on the phone to Prime Minister 53 00:02:25,880 --> 00:02:28,120 Speaker 1: Anthony ib and Easy about members of the Iranian women's 54 00:02:28,160 --> 00:02:31,480 Speaker 1: soccer team seeking asylum. We're also going to deploy more 55 00:02:31,520 --> 00:02:33,799 Speaker 1: resources to the region. We actually found out quite a 56 00:02:33,840 --> 00:02:37,560 Speaker 1: bit yesterday. Since the fourth of March Sean more than 57 00:02:37,560 --> 00:02:41,480 Speaker 1: twenty six hundred Australians have returned on eighteen flights from 58 00:02:41,520 --> 00:02:45,560 Speaker 1: the region. Also, Energy Minister Chris Bowen said that Australia's 59 00:02:45,680 --> 00:02:49,880 Speaker 1: fuel security situation was good and that the National Oil 60 00:02:50,040 --> 00:02:53,960 Speaker 1: Supplies Emergency Committee had met three times in the last week. 61 00:02:54,320 --> 00:02:57,519 Speaker 2: Question is why only three times Australia granted visa to 62 00:02:57,600 --> 00:03:00,360 Speaker 2: five members of the Iranian women's soccer team team who 63 00:03:00,400 --> 00:03:03,360 Speaker 2: are in the country for a tournament that was pretty 64 00:03:03,400 --> 00:03:06,160 Speaker 2: much settled before Trump woke Almanisi in the middle of 65 00:03:06,200 --> 00:03:08,400 Speaker 2: the night to tell him to do it. Defense Minister 66 00:03:08,480 --> 00:03:12,040 Speaker 2: Richard Miles said Australia had deployed aircraft and missiles to 67 00:03:12,080 --> 00:03:15,720 Speaker 2: the Middle East and e seven a Wedge Tail surveillance 68 00:03:15,800 --> 00:03:18,880 Speaker 2: aircraft is going to the UAE along with about eighty 69 00:03:18,880 --> 00:03:21,320 Speaker 2: five Defense Force personnel. Now we sent a wedge Tail 70 00:03:21,360 --> 00:03:24,200 Speaker 2: to Ukraine. It flew about forty five missions in three 71 00:03:24,240 --> 00:03:28,440 Speaker 2: months last year. Australia's also providing advanced medium range air 72 00:03:28,480 --> 00:03:30,240 Speaker 2: to wear missiles. 73 00:03:29,880 --> 00:03:32,960 Speaker 1: Story number three. The ab about this. The total value 74 00:03:33,000 --> 00:03:37,600 Speaker 1: of Australian dwellings SEAN has pushed past twelve trillion dollars 75 00:03:37,640 --> 00:03:40,040 Speaker 1: for the first time. That compares to about four and 76 00:03:40,080 --> 00:03:42,720 Speaker 1: a half trillion dollars for the superannuation sector, which is 77 00:03:42,720 --> 00:03:47,360 Speaker 1: no slouch itself, but it makes housing clearly the most 78 00:03:47,400 --> 00:03:49,600 Speaker 1: valuable asset class absolutely. 79 00:03:49,640 --> 00:03:52,360 Speaker 2: The value of housing in Australia jump nearly four hundred 80 00:03:52,400 --> 00:03:55,720 Speaker 2: million dollars during the December quarter to twelve point three 81 00:03:55,920 --> 00:04:00,400 Speaker 2: trillion dollars. In fact, there's been thirteen uninterrupted qu orders 82 00:04:00,480 --> 00:04:04,200 Speaker 2: of growth since twenty twenty two. The Australian Bureau of 83 00:04:04,240 --> 00:04:07,120 Speaker 2: Statistics figures show that dwellings in Western Australia, Queensland and 84 00:04:07,160 --> 00:04:11,160 Speaker 2: South Australia rose most last quarter. Western Australia now has 85 00:04:11,200 --> 00:04:14,440 Speaker 2: a medium value of a home just over a million dollars. 86 00:04:14,520 --> 00:04:16,360 Speaker 2: Now New South Wales as well past that so to 87 00:04:16,560 --> 00:04:21,359 Speaker 2: Queensland w WA's joined US. Meanwhile, superinnuation balances continued to grow. 88 00:04:21,520 --> 00:04:24,080 Speaker 2: In February, the medium Balanced option was up one point 89 00:04:24,080 --> 00:04:27,280 Speaker 2: one percent according to super Ratings. So far this financial year, 90 00:04:27,320 --> 00:04:29,600 Speaker 2: the medium balanced fund is up more than six percent. 91 00:04:30,800 --> 00:04:33,479 Speaker 1: One from Politics for story number four, David Little Proud 92 00:04:33,600 --> 00:04:37,360 Speaker 1: has resigned as Leader of the Nationals after almost four 93 00:04:37,440 --> 00:04:40,320 Speaker 1: years in the job and after two splits in the 94 00:04:40,360 --> 00:04:43,839 Speaker 1: coalition in less than a year. Says he is too 95 00:04:43,920 --> 00:04:46,560 Speaker 1: exhausted to continue in the role and I don't think 96 00:04:46,600 --> 00:04:47,839 Speaker 1: anyone would be surprised. 97 00:04:48,279 --> 00:04:51,280 Speaker 2: Standing side by side with his wife Amelia Dobson after 98 00:04:51,360 --> 00:04:54,280 Speaker 2: question time yesterday, a teary Little Proud said it was 99 00:04:54,320 --> 00:04:56,599 Speaker 2: time for someone else to lead. Let me quote him. 100 00:04:56,839 --> 00:04:59,279 Speaker 2: I believe it is time to transition to a new leader. 101 00:04:59,400 --> 00:05:02,159 Speaker 2: I'm bugged, I've had enough to lead this great party. 102 00:05:02,200 --> 00:05:03,960 Speaker 2: Would be the wrong thing for me to do, And 103 00:05:04,680 --> 00:05:07,039 Speaker 2: Little Proud said he'll stay in Parliament as the member 104 00:05:07,200 --> 00:05:10,680 Speaker 2: for the Queensland seat of Marianoa, which he first won 105 00:05:10,760 --> 00:05:13,920 Speaker 2: in twenty sixteen. Both Anthony Albanzi and Angus Taylor were 106 00:05:13,960 --> 00:05:15,960 Speaker 2: generous in their praise of Little Brown. 107 00:05:16,960 --> 00:05:21,200 Speaker 1: Now sean the conflict in the Middle East is discouraging 108 00:05:21,279 --> 00:05:24,880 Speaker 1: travelers from heading to Europe ya that region, but plenty 109 00:05:24,920 --> 00:05:28,000 Speaker 1: of change direction and are actually buying tickets that take 110 00:05:28,040 --> 00:05:31,920 Speaker 1: them through the United States. United Airlines chief executive Scott 111 00:05:32,000 --> 00:05:35,359 Speaker 1: Kirby says that the number of customers from Australia and 112 00:05:35,400 --> 00:05:39,160 Speaker 1: New Zealand traveling to Europe through the US had jumped 113 00:05:39,200 --> 00:05:41,920 Speaker 1: to more than one thousand a day, and it used 114 00:05:41,960 --> 00:05:42,120 Speaker 1: to be. 115 00:05:42,160 --> 00:05:44,800 Speaker 2: Less than one day. Let's be told to the NBC. 116 00:05:45,520 --> 00:05:47,680 Speaker 2: He said demand for flights on the world's biggest dairline 117 00:05:47,720 --> 00:05:51,039 Speaker 2: by fleet size had not taken even a tiny step 118 00:05:51,080 --> 00:05:54,320 Speaker 2: back since the missile strikes began late last month. Quantas 119 00:05:54,400 --> 00:05:56,640 Speaker 2: is another winner, given that doesn't fly through the Middle East. 120 00:05:56,680 --> 00:05:59,760 Speaker 2: Donelike Virgin Australia also very strong demand for Singapore Airlines 121 00:05:59,760 --> 00:06:02,640 Speaker 2: and CA Papacific in terms of prices. While there's been 122 00:06:02,640 --> 00:06:04,960 Speaker 2: plenty of criticism of the airline's the cheapest steals to 123 00:06:05,000 --> 00:06:07,119 Speaker 2: London via the Middle East at the moment around twenty 124 00:06:07,120 --> 00:06:09,839 Speaker 2: three twenty four hundred dollars. That's actually not too bad 125 00:06:10,160 --> 00:06:13,839 Speaker 2: business class steals, mind you, fifteen to eighteen thousand dollars. 126 00:06:14,000 --> 00:06:16,280 Speaker 1: All right, there we go, the top five business stories 127 00:06:16,320 --> 00:06:19,360 Speaker 1: in five minutes. Thank you Sean, Thank you Michael. It's Wednesday, 128 00:06:19,400 --> 00:06:21,880 Speaker 1: the eleventh of March twenty twenty six. Remember to hit 129 00:06:21,920 --> 00:06:24,440 Speaker 1: follow on the podcast. Very important, that is. And if 130 00:06:24,440 --> 00:06:26,880 Speaker 1: five minutes isn't enough, you can find our longer daily 131 00:06:26,920 --> 00:06:30,040 Speaker 1: show called Fear and Greed wherever you listen to podcasts. 132 00:06:30,080 --> 00:06:32,320 Speaker 1: I'm Michael Thompson and that was the fast five business 133 00:06:32,360 --> 00:06:33,360 Speaker 1: news by Fear and Greed. 134 00:06:33,640 --> 00:06:34,320 Speaker 2: Have a great day.