1 00:00:04,120 --> 00:00:06,560 Speaker 1: Welcome to the Saturday edition of The Fast five Business 2 00:00:06,600 --> 00:00:09,160 Speaker 1: News by Fear and Greed. I'm Michael Thompson and Hello 3 00:00:09,240 --> 00:00:12,640 Speaker 1: Sean Aylmer Allo Michael Sean. On weekdays, it's all about 4 00:00:12,640 --> 00:00:14,920 Speaker 1: the Fast five, the top five business stories in five 5 00:00:14,920 --> 00:00:16,520 Speaker 1: minutes on the weekend, though we still keep it to 6 00:00:16,520 --> 00:00:18,520 Speaker 1: five minutes, of course, but we're going to pick out 7 00:00:18,560 --> 00:00:22,440 Speaker 1: the biggest business story of the week, the most remarkable story, 8 00:00:22,800 --> 00:00:25,120 Speaker 1: a mystery category that we change every week, and then 9 00:00:25,160 --> 00:00:27,319 Speaker 1: our favorite story that's jumped straight into it though with 10 00:00:27,400 --> 00:00:30,200 Speaker 1: the biggest business story, what was it for you? Ah? 11 00:00:30,320 --> 00:00:34,280 Speaker 2: Look, each reporting season, the single company that I look 12 00:00:34,360 --> 00:00:37,200 Speaker 2: for in terms of profit is Commonwealth Bank. Not only 13 00:00:37,240 --> 00:00:38,760 Speaker 2: does it tell us what's happened to a study his 14 00:00:38,800 --> 00:00:42,200 Speaker 2: biggest company, what's happening in the banking sector, it actually 15 00:00:42,240 --> 00:00:46,360 Speaker 2: tells us what's happening in the economy. So many people 16 00:00:47,159 --> 00:00:50,000 Speaker 2: touched through the Commonwealth Bank in some way or another 17 00:00:50,200 --> 00:00:52,320 Speaker 2: came in with a five point four billion dollar profit, 18 00:00:52,600 --> 00:00:54,880 Speaker 2: seven percent jump and share price day one another five 19 00:00:54,880 --> 00:00:57,400 Speaker 2: percent the next day. It was a cracking result. What 20 00:00:57,520 --> 00:00:59,880 Speaker 2: I love is what the CEO Matt Common says about 21 00:00:59,880 --> 00:01:03,920 Speaker 2: the economy, reckons It's traveling pretty well. Spending on essential 22 00:01:03,960 --> 00:01:08,800 Speaker 2: items is up, spending on some discretionary items is up. 23 00:01:09,280 --> 00:01:12,000 Speaker 2: That's all pretty good news. The bad news for mortgage 24 00:01:12,000 --> 00:01:14,320 Speaker 2: holders is that Common expects interest rates to rise further 25 00:01:14,360 --> 00:01:17,280 Speaker 2: this year. He said, the economy's hitting capacity limits. That'll 26 00:01:17,280 --> 00:01:20,280 Speaker 2: put pressure on inflation. That's not so good. But it 27 00:01:20,319 --> 00:01:22,959 Speaker 2: did actually spark a rise in all the bank's share prices. 28 00:01:23,160 --> 00:01:25,479 Speaker 2: So all in all, you know, this profit season, if 29 00:01:25,600 --> 00:01:27,840 Speaker 2: the litmus test is Common off bank, it's pretty good. 30 00:01:28,120 --> 00:01:28,880 Speaker 3: Yeah. 31 00:01:29,640 --> 00:01:32,760 Speaker 1: I'll add that the volatility that we have seen this 32 00:01:32,840 --> 00:01:36,840 Speaker 1: week because of earning season has been quite extraordinary. Some 33 00:01:36,880 --> 00:01:39,080 Speaker 1: of these results coming out in the movements in share price, 34 00:01:39,120 --> 00:01:41,320 Speaker 1: like I had A and Z up eight and a 35 00:01:41,360 --> 00:01:44,600 Speaker 1: half percent after its results. Is extraordinary to see a 36 00:01:44,600 --> 00:01:47,800 Speaker 1: big four bank move that much in one day. It's amazing. 37 00:01:47,840 --> 00:01:50,639 Speaker 1: Pest day in six years had AGL up eleven percent, 38 00:01:50,720 --> 00:01:53,919 Speaker 1: James Hardy up eleven percent, Evolution Mining up eight percent. 39 00:01:54,520 --> 00:01:57,080 Speaker 1: But then, of course you had some big moves the 40 00:01:57,120 --> 00:02:01,840 Speaker 1: other way. AMP tumbled twenty eight percent in one day, 41 00:02:01,960 --> 00:02:06,720 Speaker 1: Temple and Webster the online retailer, thirty one percent, pro 42 00:02:06,840 --> 00:02:09,639 Speaker 1: Medicus the medical imaging group, down twenty three percent, These 43 00:02:09,680 --> 00:02:14,600 Speaker 1: are massive, massive moves for big companies. Sure are, okay, 44 00:02:15,040 --> 00:02:18,079 Speaker 1: bigger story out of the way onto the most remarkable. 45 00:02:18,520 --> 00:02:19,840 Speaker 1: What did you pick out? 46 00:02:20,080 --> 00:02:22,200 Speaker 2: I was the fact that big tech giant Alphabet's looking 47 00:02:22,240 --> 00:02:24,880 Speaker 2: to sell a one hundred year bond, a bond. It's 48 00:02:24,919 --> 00:02:28,840 Speaker 2: an IOU. So basically it's taking money billions, tens of 49 00:02:28,880 --> 00:02:32,160 Speaker 2: billions of dollars in US Solar Swiss, Franks and Stirling 50 00:02:33,080 --> 00:02:36,320 Speaker 2: to fund all its infrastructure build out and it's going 51 00:02:36,360 --> 00:02:39,680 Speaker 2: to pay it back over one hundred years. 52 00:02:39,800 --> 00:02:40,359 Speaker 1: That's cool. 53 00:02:40,400 --> 00:02:43,800 Speaker 2: Could you imagine as an investor taking on that knowing. 54 00:02:43,639 --> 00:02:45,120 Speaker 1: You're not going to be alive at the end of it. 55 00:02:45,360 --> 00:02:45,919 Speaker 3: That's right. 56 00:02:46,400 --> 00:02:48,840 Speaker 2: I mean occasionally countries have done in. Austria has done 57 00:02:48,840 --> 00:02:52,560 Speaker 2: at Argentina has done it. IBM remember them, they did 58 00:02:52,600 --> 00:02:55,200 Speaker 2: that back in nineteen ninety six. They're now about five 59 00:02:55,200 --> 00:02:57,200 Speaker 2: percent the size of Nvidio. So it just shows how 60 00:02:57,200 --> 00:03:00,840 Speaker 2: the world changes. Anyway, Alphabet one hundred years bond, they're 61 00:03:00,880 --> 00:03:05,080 Speaker 2: called Sentry bonds. Remarkable that they're actually doing it, pretty 62 00:03:05,080 --> 00:03:06,320 Speaker 2: remarkable people buy him to. 63 00:03:06,560 --> 00:03:09,040 Speaker 1: Speaking of how much the world changes sewn in nineteen 64 00:03:09,120 --> 00:03:11,600 Speaker 1: sixty seven, did you know and add at Super Bowl 65 00:03:11,680 --> 00:03:15,359 Speaker 1: one cost thirty seven and a half thousand US dollars. 66 00:03:15,400 --> 00:03:18,760 Speaker 1: Fast forward this year to twenty twenty six Super Bowl 67 00:03:18,840 --> 00:03:22,800 Speaker 1: sixty some brands paid around ten million dollars for a 68 00:03:22,880 --> 00:03:26,520 Speaker 1: thirty second spot, and that doesn't include what you would 69 00:03:26,520 --> 00:03:29,000 Speaker 1: imagine would be the extraordinary cost of actually making the ads, 70 00:03:29,040 --> 00:03:32,280 Speaker 1: because they're more like many kind of cinematic experiences than ads. 71 00:03:32,280 --> 00:03:34,639 Speaker 1: You've got oscar winners, You've got singers like post Malone 72 00:03:34,680 --> 00:03:39,400 Speaker 1: and Sabrina Carpenter, massive names. Clearly, companies know the power 73 00:03:39,400 --> 00:03:42,720 Speaker 1: of advertising, and especially Sean, the power of an audience 74 00:03:42,720 --> 00:03:45,000 Speaker 1: that largely actually turns up just to watch the ads. 75 00:03:45,440 --> 00:03:46,560 Speaker 3: I spect more people. 76 00:03:46,400 --> 00:03:49,320 Speaker 1: Are interested in that than are interested in the football. Okay, 77 00:03:49,920 --> 00:03:53,320 Speaker 1: that is the most remarkable story the mystery category this week. 78 00:03:53,360 --> 00:03:56,800 Speaker 1: I love this. This is the corner office blues Sean. 79 00:03:57,280 --> 00:04:01,480 Speaker 2: I have got great entry in this Elboss Paul McKenzie, 80 00:04:01,760 --> 00:04:05,000 Speaker 2: he lost his job, basically. 81 00:04:04,720 --> 00:04:07,840 Speaker 3: Marched out the door. Why well. 82 00:04:08,000 --> 00:04:09,960 Speaker 2: CSO, one of the bluest of blue chip companies, has 83 00:04:10,040 --> 00:04:13,240 Speaker 2: had a horror few years, culminated in the writing down 84 00:04:13,600 --> 00:04:17,800 Speaker 2: of two its three divisions by one point six billion dollars. 85 00:04:17,800 --> 00:04:19,480 Speaker 3: Out Exhibit number two. 86 00:04:19,520 --> 00:04:22,599 Speaker 2: Helen Lofthouse under pressure at the asex She's decided to 87 00:04:22,640 --> 00:04:24,880 Speaker 2: go to the asex IS that had all sorts of 88 00:04:24,880 --> 00:04:27,040 Speaker 2: issues with regulators, with outages, that. 89 00:04:26,960 --> 00:04:27,520 Speaker 3: Type of things. 90 00:04:27,960 --> 00:04:31,800 Speaker 2: Thing Number three guy called Tony Lombardo, been running them 91 00:04:31,800 --> 00:04:34,000 Speaker 2: in least for quite a few years, been under pressure 92 00:04:34,080 --> 00:04:35,920 Speaker 2: for quite a few years. This week he'd said he'd 93 00:04:35,920 --> 00:04:39,560 Speaker 2: stepped down to take up a job in Southeast Asia. 94 00:04:39,880 --> 00:04:44,040 Speaker 2: Not a good week for the Court and Them corner 95 00:04:44,080 --> 00:04:45,760 Speaker 2: office for CEOs, Michael. 96 00:04:46,080 --> 00:04:49,159 Speaker 1: No, perhaps not as well for political parties as well, Sewan, 97 00:04:49,279 --> 00:04:53,120 Speaker 1: because yeah, yeah, indeed, I think last week you and 98 00:04:53,120 --> 00:04:55,000 Speaker 1: I were talking on this show about the fact that 99 00:04:55,040 --> 00:04:58,839 Speaker 1: Susan Lee had successfully renegotiated the coalition agreements and that 100 00:04:58,960 --> 00:05:00,800 Speaker 1: maybe it might buy her a little bit of clear air. 101 00:05:00,880 --> 00:05:03,200 Speaker 1: It did not. It didn't even buy a day or 102 00:05:03,200 --> 00:05:06,320 Speaker 1: two because Angus Taylor started doing the numbers. I suspect 103 00:05:06,360 --> 00:05:07,960 Speaker 1: he'd been doing them the whole time. Then he quit 104 00:05:08,000 --> 00:05:10,640 Speaker 1: the front bench, Then he declared a challenge. Then a 105 00:05:10,680 --> 00:05:13,039 Speaker 1: bunch of shadow ministers all started quitting the cabinet. Then 106 00:05:13,080 --> 00:05:17,000 Speaker 1: at last yesterday morning, the spill and the vote was on. Honestly, 107 00:05:17,080 --> 00:05:19,160 Speaker 1: who would want to be the leader of the opposition 108 00:05:19,240 --> 00:05:22,120 Speaker 1: trying to put together a policy platform, hold a party together. 109 00:05:22,560 --> 00:05:25,479 Speaker 1: It is one corner office I would not like to occupy. 110 00:05:25,839 --> 00:05:28,400 Speaker 1: But anyway, after the spill, there's a new person in 111 00:05:28,440 --> 00:05:30,599 Speaker 1: the top job. Angus Taylor, Good luck to you. 112 00:05:31,480 --> 00:05:33,039 Speaker 3: Catch my favorites through the week. 113 00:05:33,120 --> 00:05:36,800 Speaker 2: It's about Corning, which is the US listed stock famous 114 00:05:36,839 --> 00:05:40,960 Speaker 2: for creating Edison's light bulbs. Were manufacturing Edison's light bulbs, 115 00:05:41,160 --> 00:05:44,080 Speaker 2: famous for Corning wear in the seventies, pyre exeditions. We've 116 00:05:44,080 --> 00:05:47,960 Speaker 2: all got those measuring jug still well. Late in about 117 00:05:48,000 --> 00:05:51,040 Speaker 2: twenty eighteen, it decided, you know, an old style manufacturer, 118 00:05:51,120 --> 00:05:51,839 Speaker 2: what are we going to do? 119 00:05:51,880 --> 00:05:52,040 Speaker 3: Well? 120 00:05:52,040 --> 00:05:55,200 Speaker 2: It just got into glass. It created super strong glass. 121 00:05:55,520 --> 00:05:58,479 Speaker 2: It was used for smartphones. It's now being used for 122 00:05:58,520 --> 00:06:00,800 Speaker 2: fiber optic cables. It's share it's cording to shap price 123 00:06:00,839 --> 00:06:02,880 Speaker 2: hit at record hide this week because all that glass 124 00:06:02,920 --> 00:06:05,000 Speaker 2: is needed in data centers. So this is an old 125 00:06:05,000 --> 00:06:09,800 Speaker 2: style manufacturer benefiting from the AI boom, one of the 126 00:06:09,839 --> 00:06:12,839 Speaker 2: most innovative companies over its one hundred and seventy five 127 00:06:12,960 --> 00:06:13,599 Speaker 2: year lifespan. 128 00:06:14,080 --> 00:06:14,960 Speaker 3: I love that story. 129 00:06:15,120 --> 00:06:16,599 Speaker 1: I love that story too. I think you and I 130 00:06:16,600 --> 00:06:17,880 Speaker 1: are united on that line. 131 00:06:17,880 --> 00:06:18,159 Speaker 3: Sean. 132 00:06:18,160 --> 00:06:21,160 Speaker 1: It's just old fashioned but very futuristic at the same time. 133 00:06:21,520 --> 00:06:23,679 Speaker 1: It's got everything all right. There we go five minutes 134 00:06:23,680 --> 00:06:25,120 Speaker 1: and pretty much everything you need to know in the 135 00:06:25,120 --> 00:06:25,800 Speaker 1: world of business. 136 00:06:25,880 --> 00:06:27,400 Speaker 3: Thank you Sean, Thank you Michael. 137 00:06:27,600 --> 00:06:29,880 Speaker 1: Don't forget to follow on the podcast and head to 138 00:06:29,880 --> 00:06:32,200 Speaker 1: Fearandgreed dot com dot au to sign up for our 139 00:06:32,279 --> 00:06:34,479 Speaker 1: free daily newsletter. I'll put a link in today's show 140 00:06:34,480 --> 00:06:36,839 Speaker 1: notes as well. And very important if you're listening to 141 00:06:36,880 --> 00:06:40,479 Speaker 1: this on the Fast five playlist, if you're listening on Spotify, 142 00:06:40,520 --> 00:06:43,440 Speaker 1: you're probably hearing it through the your daily Drive playlist. 143 00:06:43,880 --> 00:06:46,880 Speaker 1: That playlist is going to disappear soon, so it is important, 144 00:06:47,080 --> 00:06:49,479 Speaker 1: really important that your press follow on the podcast so 145 00:06:49,520 --> 00:06:51,960 Speaker 1: that you keep getting episodes. I'm Michael Thompson. This is 146 00:06:52,000 --> 00:06:54,159 Speaker 1: the Fast five Business News by Fear and Greed. Have 147 00:06:54,240 --> 00:06:54,720 Speaker 1: a great day.