1 00:00:03,880 --> 00:00:06,920 Speaker 1: It's Monday, the sixteenth of March twenty twenty six. Welcome 2 00:00:06,920 --> 00:00:09,280 Speaker 1: to the Fast five Business News by Fear and Greed, 3 00:00:09,280 --> 00:00:11,080 Speaker 1: where we give you the top five business stories you 4 00:00:11,119 --> 00:00:13,440 Speaker 1: need to know when just five minutes. Oh, Michael Thompson, 5 00:00:13,480 --> 00:00:14,840 Speaker 1: and good morning, Sean Aylmer. 6 00:00:15,160 --> 00:00:16,640 Speaker 2: Good morning, Michael. 7 00:00:16,520 --> 00:00:19,160 Speaker 1: Sean five stories, five minutes. Let's go story number one. 8 00:00:19,360 --> 00:00:21,800 Speaker 1: All four of the big banks are now tipping a 9 00:00:21,880 --> 00:00:25,400 Speaker 1: rate hike tomorrow after the Reserve Bank Board meets. It 10 00:00:25,440 --> 00:00:28,040 Speaker 1: would take the cash rate to four point one percent. 11 00:00:28,360 --> 00:00:31,520 Speaker 1: But Sean, the banks aren't just predicting it. They're actually 12 00:00:31,560 --> 00:00:34,800 Speaker 1: moving already. Would you believe A and Z has hiked 13 00:00:34,800 --> 00:00:38,519 Speaker 1: fixed mortgage rates before the RBAS even sat down. 14 00:00:38,840 --> 00:00:41,239 Speaker 2: Now, in their defense, fixed rate mortgages are priced off 15 00:00:41,240 --> 00:00:43,680 Speaker 2: the bond market. Yields have been rising, so rates are 16 00:00:43,720 --> 00:00:46,800 Speaker 2: going up. Variable rate home loans, which most of us pay, 17 00:00:46,960 --> 00:00:50,720 Speaker 2: they're priced off the cash rate. This time tomorrow, I 18 00:00:50,800 --> 00:00:54,800 Speaker 2: dare say, well, this tomorrow afternoon, let's say maybe we've 19 00:00:54,800 --> 00:00:57,920 Speaker 2: all got high out very rate home loans. Aroan Z's 20 00:00:57,960 --> 00:01:00,640 Speaker 2: not a line. According to Canstar, twenty six lenders have 21 00:01:00,800 --> 00:01:05,080 Speaker 2: hyped at least one fixed rate in the past fortnite, Michael. 22 00:01:05,600 --> 00:01:07,080 Speaker 1: That is a lot. It's not going to be an 23 00:01:07,080 --> 00:01:10,080 Speaker 1: easy meeting for the Reserve Bank Board, is it, Because 24 00:01:10,400 --> 00:01:13,120 Speaker 1: just last week we were talking about household spending falling 25 00:01:13,280 --> 00:01:15,720 Speaker 1: for the first time since September twenty twenty four, and 26 00:01:15,720 --> 00:01:18,160 Speaker 1: you'd have to think that that might give the RBA 27 00:01:18,280 --> 00:01:18,800 Speaker 1: some pause. 28 00:01:19,680 --> 00:01:21,680 Speaker 2: Yes. On the other hand, you've got trimmed men inflation 29 00:01:21,760 --> 00:01:23,959 Speaker 2: still at three point four percent higher than the Reserve 30 00:01:24,000 --> 00:01:29,040 Speaker 2: Bank once. Inflation's getting stickier, not softer. Of course, Commonwealth 31 00:01:29,080 --> 00:01:32,280 Speaker 2: Bank's household spending index is flashing the first real signs 32 00:01:32,319 --> 00:01:35,400 Speaker 2: of weakness. Consumer sentiment remains low, and they've got this 33 00:01:35,440 --> 00:01:36,080 Speaker 2: oil shock. 34 00:01:36,480 --> 00:01:39,760 Speaker 1: Yeah, and that is making it almost impossible right for 35 00:01:39,800 --> 00:01:43,560 Speaker 1: the RBA to sit on its hands, because households are 36 00:01:44,080 --> 00:01:45,600 Speaker 1: starting to feel the pitch. They're going to have to 37 00:01:45,600 --> 00:01:47,000 Speaker 1: do something you would think. 38 00:01:47,280 --> 00:01:50,360 Speaker 2: Yeah, exactly. Higher oil feeds through to petrol, of course 39 00:01:50,400 --> 00:01:53,640 Speaker 2: than transport logistics of pushes costs up across the board. 40 00:01:53,680 --> 00:01:56,400 Speaker 2: The Reserve banks be very clear they are worried about inflation. 41 00:01:56,520 --> 00:01:59,600 Speaker 2: So even though demand is softening, the supply side pressure 42 00:01:59,600 --> 00:02:02,680 Speaker 2: from the mid least is giving them very little room to. 43 00:02:02,640 --> 00:02:04,960 Speaker 1: Wait super quickly. If we get a rate hike. What's 44 00:02:05,000 --> 00:02:07,400 Speaker 1: it going to look like for anyone with a mortgage. 45 00:02:07,000 --> 00:02:10,320 Speaker 2: Six hundred thousand dollars mortgage about ninety five bucks extra 46 00:02:10,360 --> 00:02:13,160 Speaker 2: a month if we get a twenty five basis point increase. 47 00:02:13,639 --> 00:02:15,960 Speaker 1: Ouch on top of the damage being done at the 48 00:02:16,000 --> 00:02:19,680 Speaker 1: petrol station every week, Seaan, that is going to hurt. Okay, 49 00:02:19,680 --> 00:02:21,120 Speaker 1: Moving on to story number two. In terms of the 50 00:02:21,200 --> 00:02:24,440 Speaker 1: latest in the Middle East, Israel and Iran continue to 51 00:02:24,480 --> 00:02:28,480 Speaker 1: trade strikes, while missile interception to being reported in Saudi Arabia, 52 00:02:28,600 --> 00:02:32,000 Speaker 1: the UAA, and Qatar. US President Donald Trump says that 53 00:02:32,040 --> 00:02:34,400 Speaker 1: Iran wants to make a deal to end the war, 54 00:02:34,639 --> 00:02:36,640 Speaker 1: but he doesn't want to yet and I quote because 55 00:02:36,680 --> 00:02:37,880 Speaker 1: the terms are not good enough. 56 00:02:38,480 --> 00:02:40,880 Speaker 2: In an interview with NBC, Trump said the US had 57 00:02:41,120 --> 00:02:45,359 Speaker 2: totally demolished and the island, which is the main spot 58 00:02:45,480 --> 00:02:50,000 Speaker 2: for Iran's oil exports. He went on to say, we 59 00:02:50,080 --> 00:02:52,000 Speaker 2: may hit it a few more times just for fun. 60 00:02:52,639 --> 00:02:55,359 Speaker 2: Not sure who finds that fun. The US embassen bag 61 00:02:55,400 --> 00:02:57,800 Speaker 2: that has warned its citizens in Iraq to leave immediately 62 00:02:57,880 --> 00:03:00,440 Speaker 2: after a missile hit the building. Over the weekend. Non 63 00:03:00,440 --> 00:03:04,040 Speaker 2: emergency US government employees ees have been told to leave Verman. Also, 64 00:03:04,080 --> 00:03:06,919 Speaker 2: the US has identified six soldiers killed in a refueling 65 00:03:07,000 --> 00:03:09,120 Speaker 2: aircraft crash late last week. 66 00:03:09,919 --> 00:03:13,400 Speaker 1: Story number three sewn back home. Now, the local housing 67 00:03:13,440 --> 00:03:15,840 Speaker 1: market is beginning to stutter a little bit, just ahead 68 00:03:15,840 --> 00:03:18,760 Speaker 1: of likely interest rate hikes, with auctions over the last 69 00:03:18,760 --> 00:03:23,400 Speaker 1: week recording their lowest preliminary clearance rate all year. It 70 00:03:23,639 --> 00:03:26,120 Speaker 1: was a busy weekend though, with close to three thousand 71 00:03:26,160 --> 00:03:28,520 Speaker 1: homes going to auction according to Totality. 72 00:03:29,080 --> 00:03:31,679 Speaker 2: So the preliminary clearance rate for Sydney, Melbourne, Bristol was 73 00:03:31,680 --> 00:03:35,680 Speaker 2: in that sixty five, sixty six, sixty seven percent range. 74 00:03:35,880 --> 00:03:39,080 Speaker 2: That ain't that good. The preliminary number is finalized in 75 00:03:39,120 --> 00:03:41,240 Speaker 2: a few days time, normally comes in about six eight 76 00:03:41,240 --> 00:03:45,280 Speaker 2: percentage points lower. Last week the PCR the preliminary rate 77 00:03:45,280 --> 00:03:47,360 Speaker 2: came at seventy two. The final rate was fifty eight percent. 78 00:03:47,400 --> 00:03:49,640 Speaker 2: That is a massive drop. It's going to be very 79 00:03:49,640 --> 00:03:52,520 Speaker 2: interesting to see how this national average over the last week, 80 00:03:52,520 --> 00:03:56,160 Speaker 2: which was sixty six point six percent, how far that falls. 81 00:03:56,360 --> 00:03:56,520 Speaker 1: Now. 82 00:03:56,560 --> 00:03:59,280 Speaker 2: Adelaide is a city that's bucking the trend. Camber is 83 00:03:59,320 --> 00:04:03,400 Speaker 2: not doing real well. Neither is Perth. Just feels like 84 00:04:03,480 --> 00:04:05,680 Speaker 2: the steam is coming out of the auction market. 85 00:04:05,880 --> 00:04:07,760 Speaker 1: It does feel a little bit like that, doesn't it, 86 00:04:07,800 --> 00:04:09,760 Speaker 1: And the rate hikes are not going to help that 87 00:04:10,000 --> 00:04:13,680 Speaker 1: at all. Story number four sew on YouTube has become 88 00:04:13,720 --> 00:04:17,520 Speaker 1: the largest media company in terms of annual revenue, surpassing 89 00:04:17,640 --> 00:04:19,239 Speaker 1: Disney for the first time. 90 00:04:19,960 --> 00:04:23,440 Speaker 2: A group Moffatt Nathanson said, YouTube's title revenue was sixty 91 00:04:23,480 --> 00:04:27,960 Speaker 2: two billion US dollars Disney sixty one billion US dollars. 92 00:04:28,200 --> 00:04:30,760 Speaker 2: Mind you, Disney also have the theme parks on top 93 00:04:30,800 --> 00:04:34,480 Speaker 2: of that, but still YouTube is now the biggest media 94 00:04:34,560 --> 00:04:37,640 Speaker 2: company in terms of revenue. About forty billion dollars was 95 00:04:37,680 --> 00:04:41,400 Speaker 2: in ad revenue, which is actually more than Disney paramount, NBC, Universal, 96 00:04:41,480 --> 00:04:46,080 Speaker 2: and Warner Brothers combined. Incredible how big YouTube is nowadays. 97 00:04:46,520 --> 00:04:50,080 Speaker 2: While it's huge, still some way behind the major tech platforms. Meta, 98 00:04:50,120 --> 00:04:52,719 Speaker 2: for example, report at one hundred and ninety six billion 99 00:04:52,760 --> 00:04:56,560 Speaker 2: dollars last year, about three times the level of YouTube. 100 00:04:56,880 --> 00:05:01,440 Speaker 1: Story number five. Porsche, the German carmaker so iconic right 101 00:05:01,480 --> 00:05:05,200 Speaker 1: it was once the most elite of fashionable brands, is 102 00:05:05,200 --> 00:05:07,839 Speaker 1: now planning to cut jobs as it positions itself to 103 00:05:07,920 --> 00:05:12,159 Speaker 1: count US tariffs and really revamp itself after it's less 104 00:05:12,240 --> 00:05:14,480 Speaker 1: than successful ev policy. 105 00:05:15,040 --> 00:05:17,200 Speaker 2: Porsche said revenue will fall this year on the back 106 00:05:17,240 --> 00:05:20,599 Speaker 2: of slower sales in China, where local manufacturers are pushing 107 00:05:20,640 --> 00:05:24,120 Speaker 2: into the luxury market and competing hard. Also, the cost 108 00:05:24,160 --> 00:05:26,120 Speaker 2: of sales in its biggest market in the US have 109 00:05:26,200 --> 00:05:28,640 Speaker 2: increased by about seven hundred million year as a thanks 110 00:05:28,680 --> 00:05:32,560 Speaker 2: to Tariff's The manufacturer will develop new models positioned above 111 00:05:32,760 --> 00:05:35,920 Speaker 2: its nine to one one model and it's kN suv 112 00:05:36,320 --> 00:05:39,279 Speaker 2: it said. Research and development and EV models basically will 113 00:05:39,279 --> 00:05:45,000 Speaker 2: gradually decline. Bit like Mercedes BMW, Porsche really aren't going 114 00:05:45,040 --> 00:05:47,720 Speaker 2: to invest much more in evs. They're now looking for 115 00:05:47,760 --> 00:05:48,880 Speaker 2: more hybrid models. 116 00:05:49,200 --> 00:05:52,480 Speaker 1: Okay, that's it, John, that's the top five business stories 117 00:05:52,520 --> 00:05:54,120 Speaker 1: in five minutes. We are out of time. Thank you 118 00:05:54,200 --> 00:05:54,640 Speaker 1: very much. 119 00:05:54,960 --> 00:05:55,600 Speaker 2: Thanks Michael. 120 00:05:55,839 --> 00:05:59,040 Speaker 1: It's Monday, the sixteenth of March twenty twenty six. Remember 121 00:05:59,080 --> 00:06:01,560 Speaker 1: to hit follow on the podcast. That is really important. 122 00:06:01,600 --> 00:06:03,599 Speaker 1: Helps to find the podcast every day, and if five 123 00:06:03,600 --> 00:06:06,120 Speaker 1: minutes isn't enough, you can find our longer daily show 124 00:06:06,160 --> 00:06:09,000 Speaker 1: called Fear and Greed wherever you listen to podcasts. I'm 125 00:06:09,040 --> 00:06:11,440 Speaker 1: Michael Thompson and that was the fast five business news 126 00:06:11,440 --> 00:06:13,840 Speaker 1: by Fear and Greed. Have a great day.