It's Monday, the eleventh of November twenty twenty four. Welcome to the Fast Five by Fear and Greed, where we give you the top five business stories that you need to know in just five minutes.

It's Monday, the eleventh of November twenty twenty four. Welcome to the Fast Five by Fear and Greed, where we give you the top five business stories that you need to know in just five minutes.

I'm Adam Lang and good morning, Sean Ailmer.

I'm Adam Lang and good morning, Sean Ailmer.

Good morning, Adam.

Good morning, Adam.

Sewan's story number one and the main story this morning.

Sewan's story number one and the main story this morning.

Australia is increasingly being left behind on interest rates, with a dozen central banks reducing benchmark rates in the past two months, while the Reserve Bank of Australia continues to hold the official cash rate at a twelve year high.

Australia is increasingly being left behind on interest rates, with a dozen central banks reducing benchmark rates in the past two months, while the Reserve Bank of Australia continues to hold the official cash rate at a twelve year high.

In the past week, central banks in the USA, the United Kingdom and Sweden have cut rates. There's also been reductions in rates in China. Outside those areas, the Eurozone, Canada, Switzerland, Indonesia, South Korea, Saudi Arabia, South Africa, Mexico, New Zealand and Argentina have all cut rates. Of the big ten economies tracked by Reuter's, only two are on hold, Norway and Australia. One is hiking. Japan. Though it has ultra low interest rates as in zero, it's now got zero point two five percent. Most central banks around the world are increasingly confident that they have gotten inflation under control, albeit they do remain cautious. Last week, the Bank of England was a bit typical of the commentary of many of these banks, cut rates for the second time, but it did say it's worried that government spending could mean inflation will take time to fall. It is true that Australia's benchmark rate is not overly high, so our four point three five percent is lower than the UK and the US, which are both at four point seventy five percent at the moment. Also moves in Australia, moves in rates in Australia have a bigger impact more quickly because of variable rate mortgages that we all have. Reserve Bank Governor Michelle Bulloch has played down the impact of other economies. Last week she insisted that underlying inflation was still too high. All that's very true, but we are just a little bit out of step.

In the past week, central banks in the USA, the United Kingdom and Sweden have cut rates. There's also been reductions in rates in China. Outside those areas, the Eurozone, Canada, Switzerland, Indonesia, South Korea, Saudi Arabia, South Africa, Mexico, New Zealand and Argentina have all cut rates. Of the big ten economies tracked by Reuter's, only two are on hold, Norway and Australia. One is hiking. Japan. Though it has ultra low interest rates as in zero, it's now got zero point two five percent. Most central banks around the world are increasingly confident that they have gotten inflation under control, albeit they do remain cautious. Last week, the Bank of England was a bit typical of the commentary of many of these banks, cut rates for the second time, but it did say it's worried that government spending could mean inflation will take time to fall. It is true that Australia's benchmark rate is not overly high, so our four point three five percent is lower than the UK and the US, which are both at four point seventy five percent at the moment. Also moves in Australia, moves in rates in Australia have a bigger impact more quickly because of variable rate mortgages that we all have. Reserve Bank Governor Michelle Bulloch has played down the impact of other economies. Last week she insisted that underlying inflation was still too high. All that's very true, but we are just a little bit out of step.

And sean internationally. It was an incredible week last week for market, Yeah, sure was.

And sean internationally. It was an incredible week last week for market, Yeah, sure was.

We had the US election that was a big one, threats of a tariff trade war. The big three indices in on Wall Street, the SP five hundred, tech heavy NASDAK and Dow Jones Index all hit new highs. Tesla's up eleven percent, now worth haavored trillion dollars. In China, there was one point two trillion dollars promised to shore up the economy. Oil prices have come off a bit goal prices a bit Osi dollar just out of sixty six years Sense.

We had the US election that was a big one, threats of a tariff trade war. The big three indices in on Wall Street, the SP five hundred, tech heavy NASDAK and Dow Jones Index all hit new highs. Tesla's up eleven percent, now worth haavored trillion dollars. In China, there was one point two trillion dollars promised to shore up the economy. Oil prices have come off a bit goal prices a bit Osi dollar just out of sixty six years Sense.

Story number two.

Story number two.

Shan A and Z boss Shane Elliott has warned that competition in the home lending and deposit market is intense, as the bank recorded a big jump on loan repayments not being paid on time.

Shan A and Z boss Shane Elliott has warned that competition in the home lending and deposit market is intense, as the bank recorded a big jump on loan repayments not being paid on time.

Yes, so, mister Elie was talking after the country's fourth largest bank announced in eight percent drop and cash profit to six point seven billion dollars last Friday. The arrears rate loans more than ninety days overdue. It raised forty seven percent to four point two billion dollars. Mister Elliot said higher rates for impacting customers. Generally, though, things are okay and Z It's been involved in a couple of scandals in the past year or so, a bond trading one, a workplace conduct one. As a result, Misrali Hat lost half his cash bonus. Other execs also lost part of their bonuses. Aye is making really big tech play. It's got a new systems coming in for retail and small business customers, and then another system for mid size and big businesses. The bank already reckons that it can lower cost as a result. It's also going to incorporate sun Corps banking business. Just worth noting A and Z's results weren't great. Neither really were national Australian banks Westpax were probably a bit better, but none of them were that good over the last week or so, yet their share prices keep rising.

Yes, so, mister Elie was talking after the country's fourth largest bank announced in eight percent drop and cash profit to six point seven billion dollars last Friday. The arrears rate loans more than ninety days overdue. It raised forty seven percent to four point two billion dollars. Mister Elliot said higher rates for impacting customers. Generally, though, things are okay and Z It's been involved in a couple of scandals in the past year or so, a bond trading one, a workplace conduct one. As a result, Misrali Hat lost half his cash bonus. Other execs also lost part of their bonuses. Aye is making really big tech play. It's got a new systems coming in for retail and small business customers, and then another system for mid size and big businesses. The bank already reckons that it can lower cost as a result. It's also going to incorporate sun Corps banking business. Just worth noting A and Z's results weren't great. Neither really were national Australian banks Westpax were probably a bit better, but none of them were that good over the last week or so, yet their share prices keep rising.

Story number three sean it was a busy week for auctions, with more than two thy eight hundred houses going under the hammer nationwide. The preliminary clearance rate came in at just under sixty six percent, and that's better than a week ago, but still lower than average.

Story number three sean it was a busy week for auctions, with more than two thy eight hundred houses going under the hammer nationwide. The preliminary clearance rate came in at just under sixty six percent, and that's better than a week ago, but still lower than average.

Yeah, so Melbourne was the busiest city. Thirteen hundred auctions came preliminary clearance rate of sixty six and a half percent about eleven hundred, and Sydney sixty eight point two percent. Both those numbers are about in line with spring averages. Brisbane was fifty three point two percent, Adelaide seventy percent, Act just a bit over forty five percent rates are on whole that hopes of a cut sometime next year is helping the market tick over, but it's not doing much more than that. It's not really hot, not really cold, just kicking over Sean's doing.

Yeah, so Melbourne was the busiest city. Thirteen hundred auctions came preliminary clearance rate of sixty six and a half percent about eleven hundred, and Sydney sixty eight point two percent. Both those numbers are about in line with spring averages. Brisbane was fifty three point two percent, Adelaide seventy percent, Act just a bit over forty five percent rates are on whole that hopes of a cut sometime next year is helping the market tick over, but it's not doing much more than that. It's not really hot, not really cold, just kicking over Sean's doing.

Number four.

Number four.

The chief executive of listed gold miner Resolute Mining, Terry Hollahan, has been detained by the military controlled government of Mali in West Africa.

The chief executive of listed gold miner Resolute Mining, Terry Hollahan, has been detained by the military controlled government of Mali in West Africa.

Yes So. Reports say that other executives have also been detained for questioning. He's been taken to a specialized unit to tackle that's been crowded by the military junta that it's supposed to tackle corruption and economic and financial crimes. The ruling junta are known to want greater control over the mining industry. He's been questioned over suspicions of false evidence and misappropriation of public goods. Holohand denies the allegations. Clearly, we don't have a lot of details at the moment. These are reports in the Australian Resolute has eighty percent of a mine in Marley, as well as operations nearby Senegal and Guinea.

Yes So. Reports say that other executives have also been detained for questioning. He's been taken to a specialized unit to tackle that's been crowded by the military junta that it's supposed to tackle corruption and economic and financial crimes. The ruling junta are known to want greater control over the mining industry. He's been questioned over suspicions of false evidence and misappropriation of public goods. Holohand denies the allegations. Clearly, we don't have a lot of details at the moment. These are reports in the Australian Resolute has eighty percent of a mine in Marley, as well as operations nearby Senegal and Guinea.

Story Number five.

Story Number five.

Sean beer drinkers are feeling the pinch with sales of home brew kits spiking.

Sean beer drinkers are feeling the pinch with sales of home brew kits spiking.

Yes, According to Cooper's Brewery, which has ninety percent of the home brewing market, it's quite a spike in people brewing it home. Managing director Tim Cooper said a higher mortgage repayments, rents, and grocery prices was helping aid the decline in beer sales. Also, younger drink is heading more towards spirits and alcoholic seltzers, according to Report and the fin Review. However, where Coopers is doing pretty well, he's in the home brew kit sales that helped the company realize a sixteen percent jump in profit last financial year. Great company Cubers started in eighteen sixty two, still largely owned by the Cooper's family. He's got five percent of the national beer market.

Yes, According to Cooper's Brewery, which has ninety percent of the home brewing market, it's quite a spike in people brewing it home. Managing director Tim Cooper said a higher mortgage repayments, rents, and grocery prices was helping aid the decline in beer sales. Also, younger drink is heading more towards spirits and alcoholic seltzers, according to Report and the fin Review. However, where Coopers is doing pretty well, he's in the home brew kit sales that helped the company realize a sixteen percent jump in profit last financial year. Great company Cubers started in eighteen sixty two, still largely owned by the Cooper's family. He's got five percent of the national beer market.

That's it.

That's it.

The top five business stories you need to know in just five minutes.

The top five business stories you need to know in just five minutes.

Thank you very much, Sean, Thank you, Adam.

Thank you very much, Sean, Thank you, Adam.

It's Monday, the eleventh of November twenty twenty four. 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 fast five by Fear and Greed.

It's Monday, the eleventh of November twenty twenty four. 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 fast five by Fear and Greed.

Have a great day

Have a great day