July 9, 2025 • 6 mins
Wednesday 9 July 2025
The top five business stories in five minutes, with Sean Aylmer and Adam Lang.
- Tariff woes for BHP, Rio, CSL
- Qantas stolen data fears
- Life insurers warn on mental health claims
-
Business banking heats up
- Bayeux Tapestry heads home
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:03):
It's Thursday, the tenth of July twenty twenty five. Welcome
to the Fast five by Fear and Greed, where we
give you the top five business stories you need to
know in just five minutes. I'm Adam Lang and good morning,
Sean Almer.
Speaker 2 (00:14):
Good morning, Adam Lang.
Speaker 1 (00:16):
Sean story number one. BHP and Rio Tinto are set
to be hit by huge new copper tariffs imposed by
the Trump White House, while local pharmaceutical companies are set
to be smacked with two hundred percent imposts.
Speaker 2 (00:28):
The announcement by Donald Trump sent the share prices of
local copper producers like Sandfire Resources, Capstane and Evolution Mining tumbling.
BHP and Roo actually held up pretty well. Coppers considered
the benchmark commodity. The US imports about half of what
it needs, but Trump wants to produce more of it
at home, hence the fifty percent tariff. BHP and Rio
are two of the biggest copper producers in the world.
(00:49):
Rio is focused on Mongolia Chile in the US, BHP
on Chile, Peru and South Australia. Much of the copper
mind lend up in the US, therefore hit by tariffs.
That's the bad news. The good news being own possibly
the largest copper mine in the US. It's a JV
Resolution Corporates called that could supply about one quarter of
the USS needs. It could benefit massively from the Tariff's
(01:11):
problem so far is that BHP in Rare really hasn't
been able to make it work due to native title
and environmental disputes. Trump's announcement, as is usual, came with
few details, so both mining giants are mum at the
moment on what's going on.
Speaker 1 (01:24):
Sure. Shifting to the drug sector, Donald Trump said he
planned to introduce tariffs on imported pharmaceuticals, which could reach
two hundred percent, and that will hit local producers.
Speaker 2 (01:34):
Yes, so, the president says he will give drug companies
about a year to get their act together. The US
is the biggest richest market for pharmaceuticals. Really matters for
all drug makers, including those in Australia. We sell about
two billion dollars of drugs into the US. CSL is
an example there. The tricky part here is the Pharmaceutical
Benefit Scheme, which subsidizes the cost of medicines in part
(01:54):
by purchasing them in bulk. It's a nearly eighteen billion
dollar scheme providing nine hundred and thirty different medicines at
a universe discount rate. You could call that protectionist Sean.
Speaker 1 (02:03):
The tariff debate is causing a headache for the federal government,
with Treasurer Jim Charmers avoiding questions about where the camera
can still trust the US, particularly if allies like South
Korea can be hit with big tariffs.
Speaker 2 (02:14):
Charmers says a tariffs posed a threat to global trade
growth and progress. He says Trump's comments are very concerning,
particularly for the pharmaceutical companies. He added that negotiations over
the PBS are off the table.
Speaker 1 (02:26):
Sean story number two. Quantus says it is yet to
see any of the personal data hacked from the airline
in the public domain and has warned frequent flyer customers
to not provide information to anyone calling them purporting to
be from Quantus.
Speaker 2 (02:39):
So there were five point seven million customer details hacked.
Two point eight million included frequent flyer numbers, names and
email addresses, also details about status, tis credits and points.
Another one point two million was only names and email addresses,
remaining one point seven million combination of things addresses, birthdates,
phone numbers, gender and meal preferences. The breach occurred on
(02:59):
June thirty one. Aquanus call center operator was tricked into
opening access to a third party system, allowing hackers to
steal customer information. The airline urged customers not to provide
passwords or any personal or financial information if contacted by
anyone purporting to be from quantas.
Speaker 1 (03:16):
Sean story number three. Almost half of all payouts from
life insurance are linked to mental health, and industry leaders
expect the growing crisis to worsen as more young people
claim they are unable to work due to severe anxiety, depression,
and post traumatic stress disorder.
Speaker 2 (03:33):
Life insurance companies paid out a record two point two
billion dollars in claims related to mental illness last year,
up from one point two billion five years ago. Stress
burnout and bullying at work among the leading reasons claimants
give for being unable to return to the workforce, along
with divorce, financial strife, traumatic experience and experiences, and mood disorders.
According to a report in the fin Review, one study
(03:55):
shows permanent disability claims by those in their thirties a
permanent disability by those in their fad thirties increase more
than seven hundred percent now comprises more than third of
all such claims, very worrying. Of the five point five
million dollars in payouts last year, forty four percent were
linked to mental health mental ill health rather than physical
condition or injury, according to the Council of Australian Life Insurers.
Speaker 1 (04:16):
Sean story number four. The business banking sector, traditionally dominated
by National Australia Bank, is getting crowded, with Commonwealth Bank
and Westpact pushing hard into the sector, along with mcquarie Bank,
AMP Bank and now accounting software provider Myob.
Speaker 2 (04:31):
Miob set to launch transaction accounts for sole traders, quating
figures that show three quarters of Australia's one point six
million sole traders don't have a business account. In the
banking sector, business lending can be more profitable than mortgage lending,
prompting pushes into the sector over the past month by CBA, Commonwealth,
As you mentioned mcquari and AMP is. From all this,
adams should be customers, more competition, better deals.
Speaker 1 (04:52):
Hooray for customers. Sewann's story number five. The embroidered work
of medieval art known as the Bayu tampestry, a masterp
that depicts the Norman conquest of England in ten sixty
six will return to Britain for the first time in centuries,
according to the British Museum, where it will be displayed
in London starting next year. This is big, big, big
history writing.
Speaker 2 (05:13):
The Bayu Tapestry is the world's most famous piece of
medieval art. The loone, announced this week is part of
a state visit by President Emanuel mccronoff France to the UK.
It masks the first time the tapestry will be in
Britain since its creation more than nine hundred years ago,
according to The New York Times, the roughly seventy meter
long art work, which was made in the years after
the conquest, depicts the Norman invasion of England and the
(05:35):
Battle of Hastings. The conflict allowed William the Conqueror to
take the throne from Harold Godwinson to become the first
Norman King of England and effectively unite the country. The
tapestry is widely believed to have been made in England
the eleventh century, likely commissioned by William's half brother Sean.
Speaker 1 (05:51):
That's it. The top five business stories in five minutes
Thank you very much.
Speaker 2 (05:55):
Thank you, Adam.
Speaker 1 (05:55):
It's Thursday, the tenth of July twenty twenty five. Remembered
to hit follow on the podcast and five minutes is
not enough and find our longer podcast called Fear and
Greed on your favorite podcast platform. I'm Adam Lane and
that was the Fast five by Fear and Greed. Have
a great day.
It's Thursday, the tenth of July twenty twenty five. Welcome
to the Fast five by Fear and Greed, where we
give you the top five business stories you need to
know in just five minutes. I'm Adam Lang and good morning,
Sean Almer.
Speaker 2 (00:14):
Good morning, Adam Lang.
Speaker 1 (00:16):
Sean story number one. BHP and Rio Tinto are set
to be hit by huge new copper tariffs imposed by
the Trump White House, while local pharmaceutical companies are set
to be smacked with two hundred percent imposts.
Speaker 2 (00:28):
The announcement by Donald Trump sent the share prices of
local copper producers like Sandfire Resources, Capstane and Evolution Mining tumbling.
BHP and Roo actually held up pretty well. Coppers considered
the benchmark commodity. The US imports about half of what
it needs, but Trump wants to produce more of it
at home, hence the fifty percent tariff. BHP and Rio
are two of the biggest copper producers in the world.
(00:49):
Rio is focused on Mongolia Chile in the US, BHP
on Chile, Peru and South Australia. Much of the copper
mind lend up in the US, therefore hit by tariffs.
That's the bad news. The good news being own possibly
the largest copper mine in the US. It's a JV
Resolution Corporates called that could supply about one quarter of
the USS needs. It could benefit massively from the Tariff's
(01:11):
problem so far is that BHP in Rare really hasn't
been able to make it work due to native title
and environmental disputes. Trump's announcement, as is usual, came with
few details, so both mining giants are mum at the
moment on what's going on.
Speaker 1 (01:24):
Sure. Shifting to the drug sector, Donald Trump said he
planned to introduce tariffs on imported pharmaceuticals, which could reach
two hundred percent, and that will hit local producers.
Speaker 2 (01:34):
Yes, so, the president says he will give drug companies
about a year to get their act together. The US
is the biggest richest market for pharmaceuticals. Really matters for
all drug makers, including those in Australia. We sell about
two billion dollars of drugs into the US. CSL is
an example there. The tricky part here is the Pharmaceutical
Benefit Scheme, which subsidizes the cost of medicines in part
(01:54):
by purchasing them in bulk. It's a nearly eighteen billion
dollar scheme providing nine hundred and thirty different medicines at
a universe discount rate. You could call that protectionist Sean.
Speaker 1 (02:03):
The tariff debate is causing a headache for the federal government,
with Treasurer Jim Charmers avoiding questions about where the camera
can still trust the US, particularly if allies like South
Korea can be hit with big tariffs.
Speaker 2 (02:14):
Charmers says a tariffs posed a threat to global trade
growth and progress. He says Trump's comments are very concerning,
particularly for the pharmaceutical companies. He added that negotiations over
the PBS are off the table.
Speaker 1 (02:26):
Sean story number two. Quantus says it is yet to
see any of the personal data hacked from the airline
in the public domain and has warned frequent flyer customers
to not provide information to anyone calling them purporting to
be from Quantus.
Speaker 2 (02:39):
So there were five point seven million customer details hacked.
Two point eight million included frequent flyer numbers, names and
email addresses, also details about status, tis credits and points.
Another one point two million was only names and email addresses,
remaining one point seven million combination of things addresses, birthdates,
phone numbers, gender and meal preferences. The breach occurred on
(02:59):
June thirty one. Aquanus call center operator was tricked into
opening access to a third party system, allowing hackers to
steal customer information. The airline urged customers not to provide
passwords or any personal or financial information if contacted by
anyone purporting to be from quantas.
Speaker 1 (03:16):
Sean story number three. Almost half of all payouts from
life insurance are linked to mental health, and industry leaders
expect the growing crisis to worsen as more young people
claim they are unable to work due to severe anxiety, depression,
and post traumatic stress disorder.
Speaker 2 (03:33):
Life insurance companies paid out a record two point two
billion dollars in claims related to mental illness last year,
up from one point two billion five years ago. Stress
burnout and bullying at work among the leading reasons claimants
give for being unable to return to the workforce, along
with divorce, financial strife, traumatic experience and experiences, and mood disorders.
According to a report in the fin Review, one study
(03:55):
shows permanent disability claims by those in their thirties a
permanent disability by those in their fad thirties increase more
than seven hundred percent now comprises more than third of
all such claims, very worrying. Of the five point five
million dollars in payouts last year, forty four percent were
linked to mental health mental ill health rather than physical
condition or injury, according to the Council of Australian Life Insurers.
Speaker 1 (04:16):
Sean story number four. The business banking sector, traditionally dominated
by National Australia Bank, is getting crowded, with Commonwealth Bank
and Westpact pushing hard into the sector, along with mcquarie Bank,
AMP Bank and now accounting software provider Myob.
Speaker 2 (04:31):
Miob set to launch transaction accounts for sole traders, quating
figures that show three quarters of Australia's one point six
million sole traders don't have a business account. In the
banking sector, business lending can be more profitable than mortgage lending,
prompting pushes into the sector over the past month by CBA, Commonwealth,
As you mentioned mcquari and AMP is. From all this,
adams should be customers, more competition, better deals.
Speaker 1 (04:52):
Hooray for customers. Sewann's story number five. The embroidered work
of medieval art known as the Bayu tampestry, a masterp
that depicts the Norman conquest of England in ten sixty
six will return to Britain for the first time in centuries,
according to the British Museum, where it will be displayed
in London starting next year. This is big, big, big
history writing.
Speaker 2 (05:13):
The Bayu Tapestry is the world's most famous piece of
medieval art. The loone, announced this week is part of
a state visit by President Emanuel mccronoff France to the UK.
It masks the first time the tapestry will be in
Britain since its creation more than nine hundred years ago,
according to The New York Times, the roughly seventy meter
long art work, which was made in the years after
the conquest, depicts the Norman invasion of England and the
(05:35):
Battle of Hastings. The conflict allowed William the Conqueror to
take the throne from Harold Godwinson to become the first
Norman King of England and effectively unite the country. The
tapestry is widely believed to have been made in England
the eleventh century, likely commissioned by William's half brother Sean.
Speaker 1 (05:51):
That's it. The top five business stories in five minutes
Thank you very much.
Speaker 2 (05:55):
Thank you, Adam.
Speaker 1 (05:55):
It's Thursday, the tenth of July twenty twenty five. Remembered
to hit follow on the podcast and five minutes is
not enough and find our longer podcast called Fear and
Greed on your favorite podcast platform. I'm Adam Lane and
that was the Fast five by Fear and Greed. Have
a great day.
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