It's Wednesday, the tenth of July twenty twenty four. Welcome to the Fast five Business News by Fear and Greed, where we give you the top five business stories you need to know when just five minutes are Michael Thompson and good morning, Sean.

It's Wednesday, the tenth of July twenty twenty four. Welcome to the Fast five Business News by Fear and Greed, where we give you the top five business stories you need to know when just five minutes are Michael Thompson and good morning, Sean.

Aylmer, Good morning, Michael Shawn.

Aylmer, Good morning, Michael Shawn.

Five stories, five minutes, Let's go. Story number one. Telstra has upped the prices of its mobile phone plans, including its cheaper Boost brand, a move which sent the telco share price higher yesterday.

Five stories, five minutes, Let's go. Story number one. Telstra has upped the prices of its mobile phone plans, including its cheaper Boost brand, a move which sent the telco share price higher yesterday.

Telstras up to its mobile plans in line with inflation over the past couple of years, but this time around the increase is a higher, with monthly post paid plans rising from late next month. Prepaid plans will change from October twenty two. The telco said it needs to up prices to invest in technology and its network. Now in terms of what it's doing, basic post paid plans with fifty gigabytes of data will rise by about five percent. Premium plans will jump four percent, prepaid plans they'll rise six to seven percent, while long term plans are being priced much more aggressive. You can expect nine to twelve percent increases in those Telstra's competitors have also put up prices this year. Vote Fine lifted costs between six to nine percent Earlier in the year, Optus raised some prices five to six percent in May. Telstra's share price yesterday finished up two point two percent, one of the best of the large caps on the ax Sean.

Telstras up to its mobile plans in line with inflation over the past couple of years, but this time around the increase is a higher, with monthly post paid plans rising from late next month. Prepaid plans will change from October twenty two. The telco said it needs to up prices to invest in technology and its network. Now in terms of what it's doing, basic post paid plans with fifty gigabytes of data will rise by about five percent. Premium plans will jump four percent, prepaid plans they'll rise six to seven percent, while long term plans are being priced much more aggressive. You can expect nine to twelve percent increases in those Telstra's competitors have also put up prices this year. Vote Fine lifted costs between six to nine percent Earlier in the year, Optus raised some prices five to six percent in May. Telstra's share price yesterday finished up two point two percent, one of the best of the large caps on the ax Sean.

You mentioned Telstra's share price. While customers might not like the higher prices, Telstra seems keen to restore their profit margins, something that shareholders would likely agree with.

You mentioned Telstra's share price. While customers might not like the higher prices, Telstra seems keen to restore their profit margins, something that shareholders would likely agree with.

Remember back in May, Telstra outline twenty eight hundred doob cuts, or nearly ten percent of its workforce. Well, the telcoa is looking to lower cost but it still has to invest in technology, including its network, and that's expensive. It's been hurting the telco's bottom line. Telstra's one point three million shareholders haven't really had a good time of it recently. Even after yesterday's jump, the share prices off eleven percent over the past twelve months. So any decision to boost revenue alongside cutting costs is one shareholders are likely to like. There's also an economic insight here. Were regularly talk about services inflation not coming down fast enough. This is a great example of a service where prices are running well above overall inflation. Same Telstra, Optis, Votefan. They're all high prices in excessive inflation. It's no wonder the reserve banks struggling to contain inflation, all right.

Remember back in May, Telstra outline twenty eight hundred doob cuts, or nearly ten percent of its workforce. Well, the telcoa is looking to lower cost but it still has to invest in technology, including its network, and that's expensive. It's been hurting the telco's bottom line. Telstra's one point three million shareholders haven't really had a good time of it recently. Even after yesterday's jump, the share prices off eleven percent over the past twelve months. So any decision to boost revenue alongside cutting costs is one shareholders are likely to like. There's also an economic insight here. Were regularly talk about services inflation not coming down fast enough. This is a great example of a service where prices are running well above overall inflation. Same Telstra, Optis, Votefan. They're all high prices in excessive inflation. It's no wonder the reserve banks struggling to contain inflation, all right.

Moving on to story number two now and Australia, backed by allies the US, UK, Canada, New Zealand and Japan, has accused of Chinese state backed cyber group APT forty of repeatedly targeting government and private sector networks.

Moving on to story number two now and Australia, backed by allies the US, UK, Canada, New Zealand and Japan, has accused of Chinese state backed cyber group APT forty of repeatedly targeting government and private sector networks.

The naming and detailing of actions of the group APT forty by the Australian Signals Directorate is unprecedented and comes just a month after China's premiere visited Australia and as relations between the two countries improved. The statement was backed by the five Ice countries that you mentioned, Michael, as well as Germany, South Korea and Japan. APT forty, backed by the Chinese government, regularly targets organizations in various countries, and the Intelligence Alliance believes other countries that are at risk of the same security threats. The Group of Nations at APT forty is actively conducting regular reconnaissance against networks of interest in Australia looking for opportunities to compromise its targets. Now the group uses compromised devices doesn't have to be big business, could be a small office, could be a home office device. They then launch at tax that blend in with legitimate traffic challenging network defenders.

The naming and detailing of actions of the group APT forty by the Australian Signals Directorate is unprecedented and comes just a month after China's premiere visited Australia and as relations between the two countries improved. The statement was backed by the five Ice countries that you mentioned, Michael, as well as Germany, South Korea and Japan. APT forty, backed by the Chinese government, regularly targets organizations in various countries, and the Intelligence Alliance believes other countries that are at risk of the same security threats. The Group of Nations at APT forty is actively conducting regular reconnaissance against networks of interest in Australia looking for opportunities to compromise its targets. Now the group uses compromised devices doesn't have to be big business, could be a small office, could be a home office device. They then launch at tax that blend in with legitimate traffic challenging network defenders.

All right, understory number three, These Stage three tax cuts didn't give consumers much more confidence sewn. With sentiment falling again this month, particularly among middle income earners, the.

All right, understory number three, These Stage three tax cuts didn't give consumers much more confidence sewn. With sentiment falling again this month, particularly among middle income earners, the.

Westpac Melbourne Institute Consumers Sentiment Survey for July shows people are stuck in a deeply pessimistic mood. Not helping is a big jump in rate rise expectation. Sixty percent now expect higher rates. The survey shows family finances are under pressure, while Stage three tax cuts, along with other July one measures, have done little to boost the mood. Now. Having said that, Westpac pointed out that many people wouldn't have received extramaining in their pocket when the survey was done, there were some good news with consumers less mystic about the economic outlook.

Westpac Melbourne Institute Consumers Sentiment Survey for July shows people are stuck in a deeply pessimistic mood. Not helping is a big jump in rate rise expectation. Sixty percent now expect higher rates. The survey shows family finances are under pressure, while Stage three tax cuts, along with other July one measures, have done little to boost the mood. Now. Having said that, Westpac pointed out that many people wouldn't have received extramaining in their pocket when the survey was done, there were some good news with consumers less mystic about the economic outlook.

Story number four. Retailer Babcoorps, which owns Auto Barn, has rejected a one point eight billion dollar takeover offer from Bain Capital, saying the price didn't represent fair value.

Story number four. Retailer Babcoorps, which owns Auto Barn, has rejected a one point eight billion dollar takeover offer from Bain Capital, saying the price didn't represent fair value.

The group also appointed a new CEO, who is currently running seven to eleven in Australia. In a statement, the board of Babcoorp said it had considered the Bain proposal and the outlook for the company and decided the five dollars forty share offer was too low. After initially falling on the news, Babcoor's share price closed. The flat at five dollars in six cents doesn't necessarily mean the deals off the table, unless thought the initial bid from Bain was bid opportunistic. The initial bid was about twenty four percent below Babcore's peak in September last year. That was twenty three percent premium to where Babcoorp was trading at the time. I just reckon, we'll hear more about this one, yeah, all.

The group also appointed a new CEO, who is currently running seven to eleven in Australia. In a statement, the board of Babcoorp said it had considered the Bain proposal and the outlook for the company and decided the five dollars forty share offer was too low. After initially falling on the news, Babcoor's share price closed. The flat at five dollars in six cents doesn't necessarily mean the deals off the table, unless thought the initial bid from Bain was bid opportunistic. The initial bid was about twenty four percent below Babcore's peak in September last year. That was twenty three percent premium to where Babcoorp was trading at the time. I just reckon, we'll hear more about this one, yeah, all.

Right, last one. Story. Number five X has been hit by very slow user growth as the social media platform's owner, Elon Musk, divides audiences and it faces a new competition from the Rise of mess right all platform threads X.

Right, last one. Story. Number five X has been hit by very slow user growth as the social media platform's owner, Elon Musk, divides audiences and it faces a new competition from the Rise of mess right all platform threads X.

And its number of global daily active users in the second quarter of this year was two hundred and fifty one million. That rise of one point six percent from the same period the year before, according to The Financial Times. This contrast with a double digit growth experience in the years leading up to the acquisition by Musk. Musk has been a divisive leader of X. He rebranded it from Twitter to X. The group has shedded advertisers, and Musk decided to remove most of the platform's content moderators. Now, Facebook and a Meta launched rival platform Threads a year ago in an effort to challenge X. It's grown to one hundred and seventy five monthly active users compared to six hundred monthly active users claimed by X, but the growth rate is far, far greater than that of X's.

And its number of global daily active users in the second quarter of this year was two hundred and fifty one million. That rise of one point six percent from the same period the year before, according to The Financial Times. This contrast with a double digit growth experience in the years leading up to the acquisition by Musk. Musk has been a divisive leader of X. He rebranded it from Twitter to X. The group has shedded advertisers, and Musk decided to remove most of the platform's content moderators. Now, Facebook and a Meta launched rival platform Threads a year ago in an effort to challenge X. It's grown to one hundred and seventy five monthly active users compared to six hundred monthly active users claimed by X, but the growth rate is far, far greater than that of X's.

All right, there we go the top five business stories in five minutes.

All right, there we go the top five business stories in five minutes.

Thank you Sean, Thank you Michael.

Thank you Sean, Thank you Michael.

It's Wednesday, the tenth of July twenty twenty four. Remember to hit follow on the podcast. Five minutes isn't enough. You can find our longer daily show called Fear and Greed where ever you listen to podcasts, or at Fearandgreed dot com dot au, which is also where you can sign up for our free weekly newsletter. It comes out today. Sorry, jump onto the website now pop your email address in just in time to get this week's edition. Also out today, How Do They Afford That? Which is our sister podcast, all about making your money work harder for you. Today we're taking a look at a bunch of things that you can do with your tax cut, and particularly a focus on how you can use it to set yourself up for the future. I'm Michael Thompson and that was the Fast five Business News by Fear and Greed. Have a great day.

It's Wednesday, the tenth of July twenty twenty four. Remember to hit follow on the podcast. Five minutes isn't enough. You can find our longer daily show called Fear and Greed where ever you listen to podcasts, or at Fearandgreed dot com dot au, which is also where you can sign up for our free weekly newsletter. It comes out today. Sorry, jump onto the website now pop your email address in just in time to get this week's edition. Also out today, How Do They Afford That? Which is our sister podcast, all about making your money work harder for you. Today we're taking a look at a bunch of things that you can do with your tax cut, and particularly a focus on how you can use it to set yourself up for the future. I'm Michael Thompson and that was the Fast five Business News by Fear and Greed. Have a great day.