July 6, 2025 • 7 mins
Monday 7 July 2025
The top five business stories in five minutes, with Sean Aylmer and Michael Thompson.
- RBA tipped to cut rates
- Worst year for insolvencies
- PM ruffles feathers on foreign policy
- Utes crush sedan sales
- Wimbledon ticket boom
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:03):
It's Monday, the seventh of July twenty twenty five. Welcome
to the Fast five Business News by Fear and Agreed,
where we give you the top five business stories you
need to know in just five minutes. Are Michael Thompson
and Good morning, Adam Lang.
Speaker 2 (00:15):
Good morning Michael, Adam.
Speaker 1 (00:16):
Five stories, five minutes. Let's get cracking. Story number one.
It is a very big week for the economy, with
the Reserve Bank Board meeting being held over two days
starting today and a rate cut likely to be announced
tomorrow afternoon. The deliberations follow a surprisingly low inflation print
out for May, as well as very weak retail sales
and building approvals data. That data comes as the economy
(00:38):
itself is running at a week one and a half
percent pace. The big bank economists, perhaps unsurprisingly, all now
expect to cut tomorrow and it may be the first
of a couple more this year.
Speaker 2 (00:51):
Yes, Michael, it is good news for people with a
mortgage with minimum repayment levels set to drop. The Reserve
Bank of Australia cash rate now sits at three point
eighty five percent and is likely to come down. That
would mean the standard variable home loan rate will probably
end the year under six percent and possibly as low
as five point five percent. Remember they started twenty twenty
(01:11):
five closer to seven percent. The challenge for the Reserve
Bank is to ensure the economy is not slowing too much,
which is a very different picture from just six months ago.
Back then it was all about containing inflation.
Speaker 1 (01:23):
Yeah, and clearly the outlook for interest rates seems to
be helping the local housing market. The preliminary clearance rate
across the capital cities as worth a mention. It came
in at seventy three point one percent across the weekend Adam.
This is according to Cotality and a special shout out
to Melbourne continues to rebound preliminary auction clearance rate of
seventy five point five percent. That is ten straight weeks
(01:46):
above seventy percent and above seventy five percent for the
past three There is a lot happening in the housing
market at the moment, Adam. Story number two from all
that positivity to a slightly less positive story. Australia has
just recorded its worst year for corporate insolvencies, with fourteen thousand,
one hundred and five businesses going under in FI twenty five.
(02:08):
As companies faced rising costs, weaker demand and a tougher
stance from the Australian Taxation Office. The ACI was resumed
that aggressive debt collection post pandemic, including seizing funds. While
the headline number is alarming when you see that fourteen
thy one hundred and five figure, it is thought that
the surge partly reflects a catch up from years of
(02:29):
unusually low insolvency rates that was due to COVID eir
leniency and a lot of government support throughout the pandemic.
Speaker 2 (02:37):
Yes Michael Essic data shows that the construction industry was
the hardest hit in the last twelve months, accounting for
nearly a quarter of those fourteen one hundred and five insolvencies,
followed by the hospitality and food services sectors. At the
state level, New South Wales recorded the highest number of insolvencies,
while Victoria experienced the largest year on year increase. The
(02:57):
Northern Territory had a one hundred and two two percent
jump in insolvencies, more than doubling compared to the previous year.
Speaker 1 (03:04):
Now.
Speaker 2 (03:04):
Meanwhile, a new report from glaw firm Clayton Newtes predicts
insolvency rates will continue to rise this year, with signs
of deeper and more long term stress emerging in sectors
due to geopolitical instability globally sluggish growth rates here at home.
Although there is a little good news. The report suggests
lower interest rates and inflation may actually ease the pressures
(03:26):
being felt in some sectors through to this year's end.
Speaker 1 (03:30):
Okay. Story number three. Prime Minister Anthony Alberanezi has signaled
a more independent Australian foreign policy in a major speech
that might not go down too well in Washington. On
Saturday night, he delivered the John Curtin Oration, declaring that
our fate will be decided in our region. In outlining
what he called the Australian Way, he highlighted stronger ties
with regional neighbors, a rules based international order, and a
(03:53):
rejection of great power. Piece likely directed squarely at China,
but curiously he didn't mention the orchest Pact of Security
deal with the US and the UK, which is currently
being reviewed by the White House.
Speaker 2 (04:04):
Yes Michael, the Australian newspaper reports that the speech hasn't
been well received in Washington, with insiders apparently saying it's
detached from reality and that true independence from the US
would require Australia to substantially lift its defense spending. This
is a sticking point between the US and Australia, and
between the US and most other nations. Actually, with President
(04:25):
Donald Trump succeeding in pushing European allies in NATO to
boost their military spending recently, it's certainly an interesting time
for the Prime Minister to visit China. He's due to
head to Beijing at the end of this week, sorry
before duel cab utes adam continue to dominate Australia's new
vehicle sales, and it's not looking good for the Humble,
(04:46):
Saedan and Hatchback. The top ten vehicles sold last month
according to the Federal Chamber of Automotive Industries, where a
mix of utes and SUVs, with not a single light
passenger vehicle making the list. Sales of Hatchbacks and Sedan's
have fallen nearly twenty eight eight percent compared to the
same time last year and now make up just twelve
point four percent of the market. It's an incredible change, Michael.
(05:08):
It is a very resilient market. More than one hundred
and twenty two thousand new vehicles were sold last month,
and that's actually a two point four percent increase on
June last year. The Ford Ranger came out on top,
followed by the Toyota Highluks, the Asuzu D Max and
the BYD Shark. Six electric vehicles saw stronger sales in June,
led by BYD, but year to date figures shows their
(05:31):
overall market chair slipping slightly to seven point seven down
from eight percent in twenty twenty four.
Speaker 1 (05:37):
Story number five, I've got to have a tennis story.
The coverage of Wimbledon, Adam has been fantastic this season.
It is indeed this story from Bloomberg as a ripper.
De Bencher seats at the tournament have become something of
a hot ticket financial asset. It basically works like this.
The All England Lawn Tennis Club, which runs Wimbledon, sells
de Benches a guaranteed seat on center Court or Number
(05:58):
one court for a five stretch. Lots of sporting clubs
actually do it as it helps raise funds long term
for maintenance and for construction, and Wimbledon's actually been doing
it for more than a century.
Speaker 2 (06:09):
Michael, believe it or not. Even at these very large prices,
demand is soaring and the price is climbing. Prime Center
Court spots have sailed past two hundred thousand pounds that's
over four hundred and fifteen thousand Australian dollars, and this
is for the twenty twenty six to twenty thirty period.
They originally went on sale last year for one hundred
and sixteen thousand pounds and some are now changing hands
(06:31):
again before the five year period has even started. The
other benefit is the ability to sell individual tickets on
the days a holder can't actually attend, and that's the
only exchangeable tickets for Wimbledon. There were apparently concerns about
future demand for the de benchers following the retirement of
stars like Roger Federer, Rafael Nadal and Andy Murray, but
(06:52):
these prices suggest the All England Lawn Tennis Club had
absolutely nothing to worry about.
Speaker 1 (06:57):
Indeed, there we go, the top five business stories in
five minutes. Thank you Adam, thank you Michael. It is Monday,
the seventh of July twenty twenty five. Remember to hit
follow on the podcast, and if five minutes isn't enough,
you can find our longer daily show called Fear and
Greed wherever you listen to podcasts. I'm Michael Thompson and
that was the Fast five Business news by fear and greed.
Speaker 2 (07:15):
Have a great day.
It's Monday, the seventh of July twenty twenty five. Welcome
to the Fast five Business News by Fear and Agreed,
where we give you the top five business stories you
need to know in just five minutes. Are Michael Thompson
and Good morning, Adam Lang.
Speaker 2 (00:15):
Good morning Michael, Adam.
Speaker 1 (00:16):
Five stories, five minutes. Let's get cracking. Story number one.
It is a very big week for the economy, with
the Reserve Bank Board meeting being held over two days
starting today and a rate cut likely to be announced
tomorrow afternoon. The deliberations follow a surprisingly low inflation print
out for May, as well as very weak retail sales
and building approvals data. That data comes as the economy
(00:38):
itself is running at a week one and a half
percent pace. The big bank economists, perhaps unsurprisingly, all now
expect to cut tomorrow and it may be the first
of a couple more this year.
Speaker 2 (00:51):
Yes, Michael, it is good news for people with a
mortgage with minimum repayment levels set to drop. The Reserve
Bank of Australia cash rate now sits at three point
eighty five percent and is likely to come down. That
would mean the standard variable home loan rate will probably
end the year under six percent and possibly as low
as five point five percent. Remember they started twenty twenty
(01:11):
five closer to seven percent. The challenge for the Reserve
Bank is to ensure the economy is not slowing too much,
which is a very different picture from just six months ago.
Back then it was all about containing inflation.
Speaker 1 (01:23):
Yeah, and clearly the outlook for interest rates seems to
be helping the local housing market. The preliminary clearance rate
across the capital cities as worth a mention. It came
in at seventy three point one percent across the weekend Adam.
This is according to Cotality and a special shout out
to Melbourne continues to rebound preliminary auction clearance rate of
seventy five point five percent. That is ten straight weeks
(01:46):
above seventy percent and above seventy five percent for the
past three There is a lot happening in the housing
market at the moment, Adam. Story number two from all
that positivity to a slightly less positive story. Australia has
just recorded its worst year for corporate insolvencies, with fourteen thousand,
one hundred and five businesses going under in FI twenty five.
(02:08):
As companies faced rising costs, weaker demand and a tougher
stance from the Australian Taxation Office. The ACI was resumed
that aggressive debt collection post pandemic, including seizing funds. While
the headline number is alarming when you see that fourteen
thy one hundred and five figure, it is thought that
the surge partly reflects a catch up from years of
(02:29):
unusually low insolvency rates that was due to COVID eir
leniency and a lot of government support throughout the pandemic.
Speaker 2 (02:37):
Yes Michael Essic data shows that the construction industry was
the hardest hit in the last twelve months, accounting for
nearly a quarter of those fourteen one hundred and five insolvencies,
followed by the hospitality and food services sectors. At the
state level, New South Wales recorded the highest number of insolvencies,
while Victoria experienced the largest year on year increase. The
(02:57):
Northern Territory had a one hundred and two two percent
jump in insolvencies, more than doubling compared to the previous year.
Speaker 1 (03:04):
Now.
Speaker 2 (03:04):
Meanwhile, a new report from glaw firm Clayton Newtes predicts
insolvency rates will continue to rise this year, with signs
of deeper and more long term stress emerging in sectors
due to geopolitical instability globally sluggish growth rates here at home.
Although there is a little good news. The report suggests
lower interest rates and inflation may actually ease the pressures
(03:26):
being felt in some sectors through to this year's end.
Speaker 1 (03:30):
Okay. Story number three. Prime Minister Anthony Alberanezi has signaled
a more independent Australian foreign policy in a major speech
that might not go down too well in Washington. On
Saturday night, he delivered the John Curtin Oration, declaring that
our fate will be decided in our region. In outlining
what he called the Australian Way, he highlighted stronger ties
with regional neighbors, a rules based international order, and a
(03:53):
rejection of great power. Piece likely directed squarely at China,
but curiously he didn't mention the orchest Pact of Security
deal with the US and the UK, which is currently
being reviewed by the White House.
Speaker 2 (04:04):
Yes Michael, the Australian newspaper reports that the speech hasn't
been well received in Washington, with insiders apparently saying it's
detached from reality and that true independence from the US
would require Australia to substantially lift its defense spending. This
is a sticking point between the US and Australia, and
between the US and most other nations. Actually, with President
(04:25):
Donald Trump succeeding in pushing European allies in NATO to
boost their military spending recently, it's certainly an interesting time
for the Prime Minister to visit China. He's due to
head to Beijing at the end of this week, sorry
before duel cab utes adam continue to dominate Australia's new
vehicle sales, and it's not looking good for the Humble,
(04:46):
Saedan and Hatchback. The top ten vehicles sold last month
according to the Federal Chamber of Automotive Industries, where a
mix of utes and SUVs, with not a single light
passenger vehicle making the list. Sales of Hatchbacks and Sedan's
have fallen nearly twenty eight eight percent compared to the
same time last year and now make up just twelve
point four percent of the market. It's an incredible change, Michael.
(05:08):
It is a very resilient market. More than one hundred
and twenty two thousand new vehicles were sold last month,
and that's actually a two point four percent increase on
June last year. The Ford Ranger came out on top,
followed by the Toyota Highluks, the Asuzu D Max and
the BYD Shark. Six electric vehicles saw stronger sales in June,
led by BYD, but year to date figures shows their
(05:31):
overall market chair slipping slightly to seven point seven down
from eight percent in twenty twenty four.
Speaker 1 (05:37):
Story number five, I've got to have a tennis story.
The coverage of Wimbledon, Adam has been fantastic this season.
It is indeed this story from Bloomberg as a ripper.
De Bencher seats at the tournament have become something of
a hot ticket financial asset. It basically works like this.
The All England Lawn Tennis Club, which runs Wimbledon, sells
de Benches a guaranteed seat on center Court or Number
(05:58):
one court for a five stretch. Lots of sporting clubs
actually do it as it helps raise funds long term
for maintenance and for construction, and Wimbledon's actually been doing
it for more than a century.
Speaker 2 (06:09):
Michael, believe it or not. Even at these very large prices,
demand is soaring and the price is climbing. Prime Center
Court spots have sailed past two hundred thousand pounds that's
over four hundred and fifteen thousand Australian dollars, and this
is for the twenty twenty six to twenty thirty period.
They originally went on sale last year for one hundred
and sixteen thousand pounds and some are now changing hands
(06:31):
again before the five year period has even started. The
other benefit is the ability to sell individual tickets on
the days a holder can't actually attend, and that's the
only exchangeable tickets for Wimbledon. There were apparently concerns about
future demand for the de benchers following the retirement of
stars like Roger Federer, Rafael Nadal and Andy Murray, but
(06:52):
these prices suggest the All England Lawn Tennis Club had
absolutely nothing to worry about.
Speaker 1 (06:57):
Indeed, there we go, the top five business stories in
five minutes. Thank you Adam, thank you Michael. It is Monday,
the seventh of July twenty twenty five. Remember to hit
follow on the podcast, and if five minutes isn't enough,
you can find our longer daily show called Fear and
Greed wherever you listen to podcasts. I'm Michael Thompson and
that was the Fast five Business news by fear and greed.
Speaker 2 (07:15):
Have a great day.
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