July 16, 2025 • 5 mins
Thursday 17 July 2025
The top five business stories in five minutes, with Sean Aylmer and Adam Lang.
- PM lauds talk with Beijing
- ASX worst day in two months
- NAB CEO under scrutiny
- Rio Tinto gets a new boss
- Ellison becomes the world’s 2nd richest person
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:03):
It's Thursday, the seventeenth 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 Aylmer.
Speaker 2 (00:15):
Good morning, Adam.
Speaker 1 (00:16):
Sean's story Number one. Prime Minister Anthony Alberzi says the
talks he has held with China's leadership have been really
constructive and the treatment he is receiving is a sign
of respect.
Speaker 2 (00:26):
The Prime Minister is in China for a six day visit,
and perhaps the most notable sign of respect, as Albinizi
puts it, is that Primijijing Ping spent two hours with
him talking through policies. The PM defended Australia's case by
case assessment of foreign investment into Australia. China's Premier League
Quang had complained that businesses were being treated unfairly because
of foreign investment restrictions. Alberizi said the Darwin Ports sale
(00:49):
had not come up in discussions, but it's pretty clear
that's not what Li Kwang is talking about. The PM
reiterated that the government continues to support a one China
policy and by definition it doesn't support any lateral action
on Taiwan. When asked about the business roundtable held by
Alberanzi in Shanghai on Tuesday, he said it came up
with practical initiatives to aid the decarbonization of China steel industry.
Speaker 1 (01:11):
Shawn. Beyond the serious business of international relations, Albanize had
time to stroll the Great Wall of China alongside his
fiancee Jody Hayden, and thanked the band at the previous
night's dinner for playing Midnight Oil and Paul kelly songs.
Speaker 2 (01:24):
Prime Minister also paid homage to Gough Whitlam, who visited
China in nineteen seventy one as leader of the Labour
Party while in opposition. The next year after being elected PM,
Whitlam recognized the People's Republic of China in the way
to the trade relationship we have today, Alberizi said, Whitlam
expanded Australia's horizons. He said the State dinner on Tuesday
night was a wonderful event. He thanked the band for
learning and playing Paul Kelly's to Her Door, Midnight Ear's
(01:47):
Power and the Passion had a bunch of other Australian
favorites terrific.
Speaker 1 (01:51):
Seawn's story number two. The good news on the local
sheare market did not last long, with the S and
P ASX two hundred yesterday having its worst one day
loss since May on the back of inflation fears in
the US.
Speaker 2 (02:02):
The SMPA SX two hundred closed down nearly one percent.
The financials really struggled most the gold companies were also
sold off, while tech stocks did well. It came after
inflation in the US rose last month to its highest
level in February as the impact of tariffs start to
push up consumer prices. That pushed Wall Street lower and
we followed significantly. The price rises in the US came
(02:26):
mostly in products from overseas starting to be hit by tariff,
so stuff like furniture, clothing, large appliances. While it's only
one month's reading, economists said the outlook for inflation in
the world's biggest economy has deteriorated and the likelihood of
a rate cut in the US this year are now receiving.
Speaker 1 (02:43):
Sean story number three. The CEO of National Australia Bank,
Andrew Irvine, is under scrutiny for his management style and
drinking at client events, with media reports saying investors have
raised the issue with the bank's board.
Speaker 2 (02:55):
The bank's chairman Phil Chronicn continues to support mister Irvine,
and National Australian Bank spokespersons said yesterday. The AFR stories
say at least two large investors have questioned Irvine's behavior
after a lunch in Sydney last month. There's also disquiet
about the loss of National Australia Bank CFO Nathan Goonan
back in March. Now, I have no idea about the
rascity of the story. I'm even hesitant to talk about it,
(03:15):
but it's coming from a reput third party, the AFR.
It's also in the public realm now and the bank
may have to do something about it. Yesterday, National Australia
Bank was the worst performing major bank. It's share price
dropped three percent. So it is the story out there now.
Speaker 1 (03:31):
Story number four. Rio Tinto has appointed its head of
iron or Simon Trott as the company's next chief executive,
and he will be busy with the global miners first
half iron ore exports falling to their lowest level in
a decade.
Speaker 2 (03:44):
Trot will replace the beautifully named Yakubstause home next month,
who stepped down in May, reportedly following strains between him
and the board. Rihea has got four main pillars, iron or, copper,
aluminium and lithium. Notwithstanding yesterday's production report for the last
half year, iron Ore has really done best of the life.
The reason for the week numbers last half year with
big storms there were four cyclones. In fact, investors are
(04:05):
hoping Trot can shift his operational success in iron Ore
to other parts of RIO. The fifty year old was
born in the West Australian farming town of wikipin southeast
of Perth. He spent more than twenty years at Rio
before running the iron Ore division, was the company's chief
commercial officer. Rio's share price was fat yesterday. It's down
about six percent over the past year, which pretty much
(04:26):
reflects commodity prices.
Speaker 1 (04:28):
Story number five and Larry Ellison is the world's second
wealthiest person for the first time ever, and this is
according to the Bloomberg Billionaires Index. As a rally in
Oracles share price pushes his net worth to US two
one hundred and fifty one billion dollars, overtaking Metaboss Mark Zuckerberg.
Speaker 2 (04:44):
Oracle's been a key winner as investors have pulled into
artificial intelligence stocks. The company's shares have almost tripled since
chat GPT was released to the public in November twenty
twenty two, but the big rises the last three months
almost doubled since them. Oracle shares jumped yesterday on news
at the US government will allow chip makers, including end
Video and Advanced micro Devices, to export some semiconductors to China,
(05:07):
reversing Biden era restrictions that pushed Ellison ahead of Zuckerberg
on Bloomberg's Wealth Index. Elon Musk still number one, three
hundred and fifty eight billion US dollars just as an assign.
The news and the chips being exported to China pushed
up Nvidia's share price. It's now worth four point two
trillion US dollars, about a third bigger than Apple.
Speaker 1 (05:26):
That's it the top five business stories you need to
know in just five minutes. Thank you Sean, Thank you Adam.
It's Thursday, the seventeenth of July twenty twenty five. Remember
to hit follow on the podcast, and if five minutes
is not enough, then find our longer podcast called Fear
and Greed on your favorite podcast platform. I'm Adam Lang
and that was the Fast five by Fear and Greed.
Have a great day.
It's Thursday, the seventeenth 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 Aylmer.
Speaker 2 (00:15):
Good morning, Adam.
Speaker 1 (00:16):
Sean's story Number one. Prime Minister Anthony Alberzi says the
talks he has held with China's leadership have been really
constructive and the treatment he is receiving is a sign
of respect.
Speaker 2 (00:26):
The Prime Minister is in China for a six day visit,
and perhaps the most notable sign of respect, as Albinizi
puts it, is that Primijijing Ping spent two hours with
him talking through policies. The PM defended Australia's case by
case assessment of foreign investment into Australia. China's Premier League
Quang had complained that businesses were being treated unfairly because
of foreign investment restrictions. Alberizi said the Darwin Ports sale
(00:49):
had not come up in discussions, but it's pretty clear
that's not what Li Kwang is talking about. The PM
reiterated that the government continues to support a one China
policy and by definition it doesn't support any lateral action
on Taiwan. When asked about the business roundtable held by
Alberanzi in Shanghai on Tuesday, he said it came up
with practical initiatives to aid the decarbonization of China steel industry.
Speaker 1 (01:11):
Shawn. Beyond the serious business of international relations, Albanize had
time to stroll the Great Wall of China alongside his
fiancee Jody Hayden, and thanked the band at the previous
night's dinner for playing Midnight Oil and Paul kelly songs.
Speaker 2 (01:24):
Prime Minister also paid homage to Gough Whitlam, who visited
China in nineteen seventy one as leader of the Labour
Party while in opposition. The next year after being elected PM,
Whitlam recognized the People's Republic of China in the way
to the trade relationship we have today, Alberizi said, Whitlam
expanded Australia's horizons. He said the State dinner on Tuesday
night was a wonderful event. He thanked the band for
learning and playing Paul Kelly's to Her Door, Midnight Ear's
(01:47):
Power and the Passion had a bunch of other Australian
favorites terrific.
Speaker 1 (01:51):
Seawn's story number two. The good news on the local
sheare market did not last long, with the S and
P ASX two hundred yesterday having its worst one day
loss since May on the back of inflation fears in
the US.
Speaker 2 (02:02):
The SMPA SX two hundred closed down nearly one percent.
The financials really struggled most the gold companies were also
sold off, while tech stocks did well. It came after
inflation in the US rose last month to its highest
level in February as the impact of tariffs start to
push up consumer prices. That pushed Wall Street lower and
we followed significantly. The price rises in the US came
(02:26):
mostly in products from overseas starting to be hit by tariff,
so stuff like furniture, clothing, large appliances. While it's only
one month's reading, economists said the outlook for inflation in
the world's biggest economy has deteriorated and the likelihood of
a rate cut in the US this year are now receiving.
Speaker 1 (02:43):
Sean story number three. The CEO of National Australia Bank,
Andrew Irvine, is under scrutiny for his management style and
drinking at client events, with media reports saying investors have
raised the issue with the bank's board.
Speaker 2 (02:55):
The bank's chairman Phil Chronicn continues to support mister Irvine,
and National Australian Bank spokespersons said yesterday. The AFR stories
say at least two large investors have questioned Irvine's behavior
after a lunch in Sydney last month. There's also disquiet
about the loss of National Australia Bank CFO Nathan Goonan
back in March. Now, I have no idea about the
rascity of the story. I'm even hesitant to talk about it,
(03:15):
but it's coming from a reput third party, the AFR.
It's also in the public realm now and the bank
may have to do something about it. Yesterday, National Australia
Bank was the worst performing major bank. It's share price
dropped three percent. So it is the story out there now.
Speaker 1 (03:31):
Story number four. Rio Tinto has appointed its head of
iron or Simon Trott as the company's next chief executive,
and he will be busy with the global miners first
half iron ore exports falling to their lowest level in
a decade.
Speaker 2 (03:44):
Trot will replace the beautifully named Yakubstause home next month,
who stepped down in May, reportedly following strains between him
and the board. Rihea has got four main pillars, iron or, copper,
aluminium and lithium. Notwithstanding yesterday's production report for the last
half year, iron Ore has really done best of the life.
The reason for the week numbers last half year with
big storms there were four cyclones. In fact, investors are
(04:05):
hoping Trot can shift his operational success in iron Ore
to other parts of RIO. The fifty year old was
born in the West Australian farming town of wikipin southeast
of Perth. He spent more than twenty years at Rio
before running the iron Ore division, was the company's chief
commercial officer. Rio's share price was fat yesterday. It's down
about six percent over the past year, which pretty much
(04:26):
reflects commodity prices.
Speaker 1 (04:28):
Story number five and Larry Ellison is the world's second
wealthiest person for the first time ever, and this is
according to the Bloomberg Billionaires Index. As a rally in
Oracles share price pushes his net worth to US two
one hundred and fifty one billion dollars, overtaking Metaboss Mark Zuckerberg.
Speaker 2 (04:44):
Oracle's been a key winner as investors have pulled into
artificial intelligence stocks. The company's shares have almost tripled since
chat GPT was released to the public in November twenty
twenty two, but the big rises the last three months
almost doubled since them. Oracle shares jumped yesterday on news
at the US government will allow chip makers, including end
Video and Advanced micro Devices, to export some semiconductors to China,
(05:07):
reversing Biden era restrictions that pushed Ellison ahead of Zuckerberg
on Bloomberg's Wealth Index. Elon Musk still number one, three
hundred and fifty eight billion US dollars just as an assign.
The news and the chips being exported to China pushed
up Nvidia's share price. It's now worth four point two
trillion US dollars, about a third bigger than Apple.
Speaker 1 (05:26):
That's it the top five business stories you need to
know in just five minutes. Thank you Sean, Thank you Adam.
It's Thursday, the seventeenth of July twenty twenty five. Remember
to hit follow on the podcast, and if five minutes
is not enough, then find our longer podcast called Fear
and Greed on your favorite podcast platform. I'm Adam Lang
and that was the Fast five by Fear and Greed.
Have a great day.
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