It's Monday, the sixteenth of September 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 and us five minutes. A'm Michael Thompson and good morning Sean Aylmer.

It's Monday, the sixteenth of September 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 and us five minutes. A'm Michael Thompson and good morning Sean Aylmer.

Good morning Michael, Sean.

Good morning Michael, Sean.

Five stories, five minutes, let's go. Story number one is a big one. Australia is likely to miss renewable energy targets by twenty thirty, but is making ground in transitioning the energy grid. This is according to leading experts, just as renewable energy as a share of total electricity production hit a new record.

Five stories, five minutes, let's go. Story number one is a big one. Australia is likely to miss renewable energy targets by twenty thirty, but is making ground in transitioning the energy grid. This is according to leading experts, just as renewable energy as a share of total electricity production hit a new record.

Yes, the news and the transition to renewables isn't great, but it isn't a disaster either. Transcript. Chief Executive Brett Redmond forecast that renewable energy will generate eighty two percent of Australia's power by twenty thirty one thirty two. Now that's a year or two later than the government's target. He said. Recent delays to major projects probably meant the country would miss its twenty thirty target. According to a report in The Australian newgl Managing director Doug Moss said the targets would be extremely challenging. Mind you, it's good news for company like UGL, a building contractor for major energy projects such as the Snowy Hydro Curry Curry gas facility. Broadly, they're saying the eighty two percent won't be hit by twenty thirty, but it should be hit soon afterwards.

Yes, the news and the transition to renewables isn't great, but it isn't a disaster either. Transcript. Chief Executive Brett Redmond forecast that renewable energy will generate eighty two percent of Australia's power by twenty thirty one thirty two. Now that's a year or two later than the government's target. He said. Recent delays to major projects probably meant the country would miss its twenty thirty target. According to a report in The Australian newgl Managing director Doug Moss said the targets would be extremely challenging. Mind you, it's good news for company like UGL, a building contractor for major energy projects such as the Snowy Hydro Curry Curry gas facility. Broadly, they're saying the eighty two percent won't be hit by twenty thirty, but it should be hit soon afterwards.

Okay, So that eighty two percent is a key number. How close are we to hitting it?

Okay, So that eighty two percent is a key number. How close are we to hitting it?

Well, some weeks we're much closer than others. The share of electricity generated by renewables reached an all time high seventy two point two percent in the half hour leading up to midday last Monday, margining you better than the previous high set in October last year. If we could sustain that level, we'd be on a promising pathway, though according to reporting the fin Review, some experts worn it may struggle to rise much further over the next few years until more coal power stations close. That's because coal generators whose supply are still vital to keep the lights on have to maintain minimum levels of operation around the clock. The next major coal station to close is Origin Energies two thousand and eight one hundred and eighty megawater Arahing generator, the country's biggest. Its shutdown was today by a couple of years. It's due to close in August twenty twenty seven. Now, solar panels continue to provide a large share of supply. Rooftop solo is about thirty eight thirty nine percent. That's at its peak last week according to the Australian Energy Market Operator. So things getting better, much better than June caught a bit tough, shorter days, not as much wind and solar generation in those shorter days. Anyway, we're getting there, Michael.

Well, some weeks we're much closer than others. The share of electricity generated by renewables reached an all time high seventy two point two percent in the half hour leading up to midday last Monday, margining you better than the previous high set in October last year. If we could sustain that level, we'd be on a promising pathway, though according to reporting the fin Review, some experts worn it may struggle to rise much further over the next few years until more coal power stations close. That's because coal generators whose supply are still vital to keep the lights on have to maintain minimum levels of operation around the clock. The next major coal station to close is Origin Energies two thousand and eight one hundred and eighty megawater Arahing generator, the country's biggest. Its shutdown was today by a couple of years. It's due to close in August twenty twenty seven. Now, solar panels continue to provide a large share of supply. Rooftop solo is about thirty eight thirty nine percent. That's at its peak last week according to the Australian Energy Market Operator. So things getting better, much better than June caught a bit tough, shorter days, not as much wind and solar generation in those shorter days. Anyway, we're getting there, Michael.

Indeed, we are all right on to story number two now, and the Federal Coalition is now pushing to not change the Reserve Bank Board, saying it no longer.

Indeed, we are all right on to story number two now, and the Federal Coalition is now pushing to not change the Reserve Bank Board, saying it no longer.

Needs to be considered all bit confusing really, giving an independent inquiry set up by the coalition government recommended the Central Bank Board be split into an interest rate setting board and a governance body. The Liberal Party supported the split, though it couldn't agree with Federal treasure of Jim Chalmers about who would sit on the interest rate Setting Committee. Yesterday, Opposition Finance spakesperson Jane Hume said the people currently on the Reserve Bank Board should continue to do Montree policy, which sounds like the Opper position doesn't want any change. Any splitting in the Board requires legislative change and agreement between the Government and Greens. At the moment at least seems some way off.

Needs to be considered all bit confusing really, giving an independent inquiry set up by the coalition government recommended the Central Bank Board be split into an interest rate setting board and a governance body. The Liberal Party supported the split, though it couldn't agree with Federal treasure of Jim Chalmers about who would sit on the interest rate Setting Committee. Yesterday, Opposition Finance spakesperson Jane Hume said the people currently on the Reserve Bank Board should continue to do Montree policy, which sounds like the Opper position doesn't want any change. Any splitting in the Board requires legislative change and agreement between the Government and Greens. At the moment at least seems some way off.

Story number three. What do you make of this one? About two thirds of Australian baby boomers leaving the workforce don't actually have enough superannuation to retire comfortably. This is according to research from the industry's Peak Body.

Story number three. What do you make of this one? About two thirds of Australian baby boomers leaving the workforce don't actually have enough superannuation to retire comfortably. This is according to research from the industry's Peak Body.

Slightly more than thirty percent of Australians are able to afford a comfortable lifestyle in retirement, according to the Association of Superannuation Funds of Australian Currently, the median pension account balance for men aged sixty to sixty four is two hundred and five one hundred and fifty four thousand for women, The industry standard for what's considered a comfortable retirement six hundred and ninety thousand for couples five ninety five thousand for singles. According to report on Bloomberg, Australia's retirement savings pool is now close to four trillion dollars. About two and a half million Aussies are expected to retire over the next decade. ASPA said that as the pension system matures and balances increase the portion of people retiring with a rough money to fund a comfortable lifestyle, we'll hit about fifty percent or more by twenty fifty.

Slightly more than thirty percent of Australians are able to afford a comfortable lifestyle in retirement, according to the Association of Superannuation Funds of Australian Currently, the median pension account balance for men aged sixty to sixty four is two hundred and five one hundred and fifty four thousand for women, The industry standard for what's considered a comfortable retirement six hundred and ninety thousand for couples five ninety five thousand for singles. According to report on Bloomberg, Australia's retirement savings pool is now close to four trillion dollars. About two and a half million Aussies are expected to retire over the next decade. ASPA said that as the pension system matures and balances increase the portion of people retiring with a rough money to fund a comfortable lifestyle, we'll hit about fifty percent or more by twenty fifty.

Story number four, the first independent analysis of more than sixty airline loyalty programs, has ranked Quantus Frequent Fire twenty fourth, and it's been critical of the large number of points needed for redemptions, also critical of poor customer service and high change fees.

Story number four, the first independent analysis of more than sixty airline loyalty programs, has ranked Quantus Frequent Fire twenty fourth, and it's been critical of the large number of points needed for redemptions, also critical of poor customer service and high change fees.

Travel tech company point me undertook the analysis over several months, allocating marks to each program across several criteria including the ease of earning miles or points, redemption rates, ease of booking, and customer service quality. According to report in The Australian, the reward program of Air France and KLM, known as Flying Blue, was rated the best scheme, followed by Air Canada Aeroplan, United Mileage Plus, British Airway Executive Club and Virgin Atlantic Flying Club. Emirates Skywards came in at eleventh. Singapore Airlines scheme was seventeenth, Quantus twenty fourth, Virgin Australia at thirty third, which was the same as Air New Zealand's Airpoints.

Travel tech company point me undertook the analysis over several months, allocating marks to each program across several criteria including the ease of earning miles or points, redemption rates, ease of booking, and customer service quality. According to report in The Australian, the reward program of Air France and KLM, known as Flying Blue, was rated the best scheme, followed by Air Canada Aeroplan, United Mileage Plus, British Airway Executive Club and Virgin Atlantic Flying Club. Emirates Skywards came in at eleventh. Singapore Airlines scheme was seventeenth, Quantus twenty fourth, Virgin Australia at thirty third, which was the same as Air New Zealand's Airpoints.

Last one story number five. Bunnings, Aldi and Kmart are Australia's three most trusted brands, while Toyota, Bendigo Bank and Nike are on the app.

Last one story number five. Bunnings, Aldi and Kmart are Australia's three most trusted brands, while Toyota, Bendigo Bank and Nike are on the app.

That's the findings from the Roy Morgan survey released on Friday, and the top three are unchanged over the June quarter. Next in order are Toyota, Apple, Ossie, post Mya, Big Wnroma and Samsung. The most distrusted brands in order of bad to less bad, Optus Quantas, Facebook, Coles, Woollies, Telstra News Corp, ex TikTok and Tam Roy Morgan CEO Michelle Levine said Bunnings is the only survivor from the top three rankings of a year ago. Willies and Cole's are the ones who have truly fallen from Grace. The fact that there's still high trust ratings for Aldi and Independent Grace at IJA shows that the distrust for the two majors is not an industry wide thing.

That's the findings from the Roy Morgan survey released on Friday, and the top three are unchanged over the June quarter. Next in order are Toyota, Apple, Ossie, post Mya, Big Wnroma and Samsung. The most distrusted brands in order of bad to less bad, Optus Quantas, Facebook, Coles, Woollies, Telstra News Corp, ex TikTok and Tam Roy Morgan CEO Michelle Levine said Bunnings is the only survivor from the top three rankings of a year ago. Willies and Cole's are the ones who have truly fallen from Grace. The fact that there's still high trust ratings for Aldi and Independent Grace at IJA shows that the distrust for the two majors is not an industry wide thing.

All right, there we go to the top five business stories in five minutes. Thank you Sean, Thank you Michael. It is Monday, the sixteenth of September twenty twenty four. Remember to hit follow on the podcast and if five minut it s isn't enough, you can find our longer daily show called Fear and Greed whereever you listen to podcasts, and that comes with a bunch of interviews as well. Today's interview is a great one for investors. I'm Michael Thomason and that was the fast fire business news by Fear and Greed. Have a great day.

All right, there we go to the top five business stories in five minutes. Thank you Sean, Thank you Michael. It is Monday, the sixteenth of September twenty twenty four. Remember to hit follow on the podcast and if five minut it s isn't enough, you can find our longer daily show called Fear and Greed whereever you listen to podcasts, and that comes with a bunch of interviews as well. Today's interview is a great one for investors. I'm Michael Thomason and that was the fast fire business news by Fear and Greed. Have a great day.