July 7, 2025 • 6 mins
Tuesday 8 July 2025
The top five business stories in five minutes, with Sean Aylmer and Michael Thompson.
- Australia gets caught up in US-China fight
- Interest rates set to fall
- Potential de-merge sparks Origin’s share price
- Trump hits back over Musk’s new political party
- Ancient city found in Peru
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:03):
It's Tuesday, the eighth 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 (00:15):
Good morning, Adam.
Speaker 3 (00:16):
Sean's story number one.
Speaker 1 (00:18):
Australia is getting caught up in the crossfire between the
world's two biggest economies, the US and China, with America
set to impose a ten percent tariff on Australian goods.
Just as Prime Minister Anthony Albanezi heads off to Beijing.
Speaker 2 (00:31):
The Trump Administration started sending out tariff letters to countries overnight,
and Australia is likely to be stuck with a ten
percent tariff on goods and services sold into the US.
Because Australia is not negotiated a new tariff arrangement with Washington,
we're likely to receive our original impost, which is the
lowest rate of ten percent. That's because Australia sells less
to the US than we buy from it. Countries are
(00:52):
rushing to do deals with the Trump administration, with the
July nine deadline almost here. Now the new tariffs are
due to kick off on one August. Yesterday, Donald Trump
said he'll start sending letters overnight. We're talked about last night,
adding that any country aligning itself with the bricks Nations Brazil, Russia, India,
China and South Africa will face an additional ten percent tariffs,
(01:12):
adding there will be no exceptions. Not quite clear what
that means. Australia is aligned with China when it comes
to iron ore, for example, but I'm not sure how
that one plays out.
Speaker 1 (01:21):
And this is all happening as Prime Minister Anthony Albanezi
heads to China this week, with Beijing suggesting an expansion
of the free trade agreement to include artificial intelligence and
the digital economy.
Speaker 2 (01:32):
Beijing's top diplomat in Australia, Xiao Chang, has suggested deepening
economic ties between the two countries. He said that could
boost the local economy. Writing the fin Review, he saiderations
between Australia and China have stabilized and improved, achieving a
comprehensive turnaround, but now is the time to take the
next step in some critical parts of the global economy,
(01:52):
notably critical minerals, electric vehicles, semiconductors, artificial intelligence. Countries like
Australia really have two primary options, team up the US
or team up with China. Thus far, we've been very
US focused, but the Trump administration has given Canberra reason
to rethink now. The Chinese ambassador's comments come as mister
Albanezi is due to meet President Jijingping during his week
(02:14):
long trip to China. It's a heavy trade investment focus trip.
In fact, the number of business leaders will join the PM,
including Macquarie Group's Shamara Rameni, Yaka, Fortescues, Andrew Forrest and
Bluescopes Mark Vazella. Meanwhile, Opposition leader Susan Lee said that
Australia should be wary of expanding our free trade deal
with China to include AI and the digital economy.
Speaker 3 (02:36):
Sean's story Number two.
Speaker 1 (02:37):
Interest rates are on the way down, including a probable
cut at two thirty pm today, but home loan borrow
is mostly opting to keep repayment levels unchanged, effectively paying
more than the minimum requirement off their mortgages.
Speaker 2 (02:51):
According to the Big Banks Nunning, ten percent of borrow
was lowered their home loan repayments after the May rate cut,
which was in line with what happened in the February
cut or after the February rate cut a zed coomwealf
Bank in National Australia Bank ask customers to opt into
lower payments after rate cuts. According to the fin Review,
Westpac automatically reduces the home loan repayments. Commonwealth estimates borrowers
(03:12):
with a five hundred thousand dollars mortgage would be saving
one hundred and sixty dollars a month from two rate
cuts this year. If they banked three rate cuts, borrowers
with a thirty thousand year mortgage could save close to
two hundred thousand dollars. Financial markets and economists agree there's
very likely to be a rate cut the SAVO followed
by a couple.
Speaker 3 (03:31):
More later in the year.
Speaker 1 (03:32):
Story number three Origin Energy jumped six point five percent
after reports over the weekend the UK startup Octopus Energy,
of which Origin has a twenty three percent stake, is
planning to demerge its technology arm.
Speaker 2 (03:45):
And the technology arm is called Krakeen. So we've got Octopus,
Origin and Craken. This is a story full of great names.
Kracken's a standalone energy or as a standalone entity, could
be valued AD up to fifteen billion dollars. According to
UK media reports that would value Origin takes at three
point five billion dollars. Octopus is Britain's largest energy energy retailer.
(04:06):
Kraken is an AI powered operating system which is licensed
to other energy providers, water companies and telecom supplies.
Speaker 3 (04:13):
Sean Story number four.
Speaker 1 (04:14):
Donald Trump has lashed out at Elon Musk after the
billionaire unveiled plans to launch a new US political party,
calling him a train wreck. In an escalation of the
feud between the US president and his former buddy.
Speaker 2 (04:27):
Musk has criticized Trump's flagship One Big Beautiful Bill, which
the President signed into law last week, accusing the administration
of bankrupting in the country because the law is projected
to add more than three trillion dollars to the US
debt over the next decade.
Speaker 1 (04:39):
Now.
Speaker 2 (04:40):
Over the weekend, Musk announced he would form a new
party called the America Party Few details. Trump hit back,
writing on his Truth social platform that he was and
I quote saddened to watch Elon Musk go completely off trails,
essentially becoming a train wreck over the past five years
end quote, end story.
Speaker 3 (04:59):
Sean story number five.
Speaker 1 (05:00):
And finally, archaeologists have announced the discovery of an ancient
city in Peru's northern Baranka province.
Speaker 2 (05:07):
The thirty five hundred year old city, named Pernico, is
believed to have served as a key trading hub connecting
early Pacific coast communities with those living in the Andes
Mountains and Amazon Basin. Located some two hundred kilometers north
of Lima, the site lies about six hundred meters above
sea level, thought to have been founded between eighteen hundred
and fifteen hundred BC, around the same time that early
(05:28):
civilizations were flourishing in the Middle East and Asia. According
to BBC, researchers say the discovery sheddle's light on what
became of the America's oldest civilization, the Keral, which was
established about five thousand years ago. Eight years of research
at the site unearthed eighteen structures, including ceremonial temples and
residential complexes.
Speaker 1 (05:48):
That's it, the top five business stories in just five minutes.
Speaker 3 (05:50):
Thank you, Sean, Thanks very much. Adam. It's Tuesday, the
eighth of July twenty twenty five.
Speaker 1 (05:55):
Remember to hit follow on the podcast and if five
minutes isn't enough, then find out longer podcast called Fear
and greed on your favorite podcast platform. I'm Adam Lang
and that was the fastby by, fair and greed.
Speaker 3 (06:06):
Have a great date.
It's Tuesday, the eighth 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 (00:15):
Good morning, Adam.
Speaker 3 (00:16):
Sean's story number one.
Speaker 1 (00:18):
Australia is getting caught up in the crossfire between the
world's two biggest economies, the US and China, with America
set to impose a ten percent tariff on Australian goods.
Just as Prime Minister Anthony Albanezi heads off to Beijing.
Speaker 2 (00:31):
The Trump Administration started sending out tariff letters to countries overnight,
and Australia is likely to be stuck with a ten
percent tariff on goods and services sold into the US.
Because Australia is not negotiated a new tariff arrangement with Washington,
we're likely to receive our original impost, which is the
lowest rate of ten percent. That's because Australia sells less
to the US than we buy from it. Countries are
(00:52):
rushing to do deals with the Trump administration, with the
July nine deadline almost here. Now the new tariffs are
due to kick off on one August. Yesterday, Donald Trump
said he'll start sending letters overnight. We're talked about last night,
adding that any country aligning itself with the bricks Nations Brazil, Russia, India,
China and South Africa will face an additional ten percent tariffs,
(01:12):
adding there will be no exceptions. Not quite clear what
that means. Australia is aligned with China when it comes
to iron ore, for example, but I'm not sure how
that one plays out.
Speaker 1 (01:21):
And this is all happening as Prime Minister Anthony Albanezi
heads to China this week, with Beijing suggesting an expansion
of the free trade agreement to include artificial intelligence and
the digital economy.
Speaker 2 (01:32):
Beijing's top diplomat in Australia, Xiao Chang, has suggested deepening
economic ties between the two countries. He said that could
boost the local economy. Writing the fin Review, he saiderations
between Australia and China have stabilized and improved, achieving a
comprehensive turnaround, but now is the time to take the
next step in some critical parts of the global economy,
(01:52):
notably critical minerals, electric vehicles, semiconductors, artificial intelligence. Countries like
Australia really have two primary options, team up the US
or team up with China. Thus far, we've been very
US focused, but the Trump administration has given Canberra reason
to rethink now. The Chinese ambassador's comments come as mister
Albanezi is due to meet President Jijingping during his week
(02:14):
long trip to China. It's a heavy trade investment focus trip.
In fact, the number of business leaders will join the PM,
including Macquarie Group's Shamara Rameni, Yaka, Fortescues, Andrew Forrest and
Bluescopes Mark Vazella. Meanwhile, Opposition leader Susan Lee said that
Australia should be wary of expanding our free trade deal
with China to include AI and the digital economy.
Speaker 3 (02:36):
Sean's story Number two.
Speaker 1 (02:37):
Interest rates are on the way down, including a probable
cut at two thirty pm today, but home loan borrow
is mostly opting to keep repayment levels unchanged, effectively paying
more than the minimum requirement off their mortgages.
Speaker 2 (02:51):
According to the Big Banks Nunning, ten percent of borrow
was lowered their home loan repayments after the May rate cut,
which was in line with what happened in the February
cut or after the February rate cut a zed coomwealf
Bank in National Australia Bank ask customers to opt into
lower payments after rate cuts. According to the fin Review,
Westpac automatically reduces the home loan repayments. Commonwealth estimates borrowers
(03:12):
with a five hundred thousand dollars mortgage would be saving
one hundred and sixty dollars a month from two rate
cuts this year. If they banked three rate cuts, borrowers
with a thirty thousand year mortgage could save close to
two hundred thousand dollars. Financial markets and economists agree there's
very likely to be a rate cut the SAVO followed
by a couple.
Speaker 3 (03:31):
More later in the year.
Speaker 1 (03:32):
Story number three Origin Energy jumped six point five percent
after reports over the weekend the UK startup Octopus Energy,
of which Origin has a twenty three percent stake, is
planning to demerge its technology arm.
Speaker 2 (03:45):
And the technology arm is called Krakeen. So we've got Octopus,
Origin and Craken. This is a story full of great names.
Kracken's a standalone energy or as a standalone entity, could
be valued AD up to fifteen billion dollars. According to
UK media reports that would value Origin takes at three
point five billion dollars. Octopus is Britain's largest energy energy retailer.
(04:06):
Kraken is an AI powered operating system which is licensed
to other energy providers, water companies and telecom supplies.
Speaker 3 (04:13):
Sean Story number four.
Speaker 1 (04:14):
Donald Trump has lashed out at Elon Musk after the
billionaire unveiled plans to launch a new US political party,
calling him a train wreck. In an escalation of the
feud between the US president and his former buddy.
Speaker 2 (04:27):
Musk has criticized Trump's flagship One Big Beautiful Bill, which
the President signed into law last week, accusing the administration
of bankrupting in the country because the law is projected
to add more than three trillion dollars to the US
debt over the next decade.
Speaker 1 (04:39):
Now.
Speaker 2 (04:40):
Over the weekend, Musk announced he would form a new
party called the America Party Few details. Trump hit back,
writing on his Truth social platform that he was and
I quote saddened to watch Elon Musk go completely off trails,
essentially becoming a train wreck over the past five years
end quote, end story.
Speaker 3 (04:59):
Sean story number five.
Speaker 1 (05:00):
And finally, archaeologists have announced the discovery of an ancient
city in Peru's northern Baranka province.
Speaker 2 (05:07):
The thirty five hundred year old city, named Pernico, is
believed to have served as a key trading hub connecting
early Pacific coast communities with those living in the Andes
Mountains and Amazon Basin. Located some two hundred kilometers north
of Lima, the site lies about six hundred meters above
sea level, thought to have been founded between eighteen hundred
and fifteen hundred BC, around the same time that early
(05:28):
civilizations were flourishing in the Middle East and Asia. According
to BBC, researchers say the discovery sheddle's light on what
became of the America's oldest civilization, the Keral, which was
established about five thousand years ago. Eight years of research
at the site unearthed eighteen structures, including ceremonial temples and
residential complexes.
Speaker 1 (05:48):
That's it, the top five business stories in just five minutes.
Speaker 3 (05:50):
Thank you, Sean, Thanks very much. Adam. It's Tuesday, the
eighth of July twenty twenty five.
Speaker 1 (05:55):
Remember to hit follow on the podcast and if five
minutes isn't enough, then find out longer podcast called Fear
and greed on your favorite podcast platform. I'm Adam Lang
and that was the fastby by, fair and greed.
Speaker 3 (06:06):
Have a great date.
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