It's Tuesday, the twenty sixth of November 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 in just five minutes. Are Michael Thompson and Good morning, Sean Aylmer.

It's Tuesday, the twenty sixth of November 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 in just five minutes. Are Michael Thompson and Good morning, Sean Aylmer.

Good morning, Michael, Sean.

Good morning, Michael, Sean.

Five stories in five minutes. Let's go with story number one. It is a very busy final week of the sitting year for Federal Parliament, with the bill to ban social media for under sixteen year old's front and center a mid seventy six unpassed bills. There's quite an agenda here.

Five stories in five minutes. Let's go with story number one. It is a very busy final week of the sitting year for Federal Parliament, with the bill to ban social media for under sixteen year old's front and center a mid seventy six unpassed bills. There's quite an agenda here.

There is. Prime Minister Anthony Albernezi, said world leaders at the G twenty where he was last week, so they're watching Australia's effort to limit online platform for under sixteen year olds. He hopes the bill, which has bipartisan support, will pass this week. There was actually a Parliamentary committee meeting on it yesterday. What came out of it was that not everyone agrees with the idea, including youth mental health organizations, and no one seems to know how it will work. Labs also trying to push through some of its housing policies that helped to buy housing. See that, I'll see the government co purchase homes with about forty thousand first home buys. There's also to build a rent. Legislation introduced this week provides new text and centers for investors. Both are likely to fail. That provides a trigger for a double dissolution election. Resources Minister Madeline King urge the opposition, Greens and Cross benches to support tax cub and centers for net zero industries. I'm talking about thirteen point seven billion dollars worth of tax credits. Opposition leader Peter Dunton previously called the changes corporate welfare for billionaires. Not sure how that one will go. However, the Government is likely to get through new legislation on age care and political donations and possibly fee free tape.

There is. Prime Minister Anthony Albernezi, said world leaders at the G twenty where he was last week, so they're watching Australia's effort to limit online platform for under sixteen year olds. He hopes the bill, which has bipartisan support, will pass this week. There was actually a Parliamentary committee meeting on it yesterday. What came out of it was that not everyone agrees with the idea, including youth mental health organizations, and no one seems to know how it will work. Labs also trying to push through some of its housing policies that helped to buy housing. See that, I'll see the government co purchase homes with about forty thousand first home buys. There's also to build a rent. Legislation introduced this week provides new text and centers for investors. Both are likely to fail. That provides a trigger for a double dissolution election. Resources Minister Madeline King urge the opposition, Greens and Cross benches to support tax cub and centers for net zero industries. I'm talking about thirteen point seven billion dollars worth of tax credits. Opposition leader Peter Dunton previously called the changes corporate welfare for billionaires. Not sure how that one will go. However, the Government is likely to get through new legislation on age care and political donations and possibly fee free tape.

And just quickly sean the government is Aside from legislation, the government is feeling the heat on everything from the cost of living crisis through to international diplomacy.

And just quickly sean the government is Aside from legislation, the government is feeling the heat on everything from the cost of living crisis through to international diplomacy.

At the moment, it's quite possible that this will be the final sitting week of this parliament. In fact, you know, election could be called. It's got to be won by the middle of May next year. We'll get a budget update next week. The cost of living crisis is hurting the government. According to the polls, they would love to see a rate cut by May next year unlikely. Another big issue at the moment is the fact that the International Criminal Court has issued an arrest warrant for Israel's Benjamin Nett and Yahoo. Yesterday, Foreign Minister Penny One indicated, not said, but indicated that he would be arrested if he came to Australia.

At the moment, it's quite possible that this will be the final sitting week of this parliament. In fact, you know, election could be called. It's got to be won by the middle of May next year. We'll get a budget update next week. The cost of living crisis is hurting the government. According to the polls, they would love to see a rate cut by May next year unlikely. Another big issue at the moment is the fact that the International Criminal Court has issued an arrest warrant for Israel's Benjamin Nett and Yahoo. Yesterday, Foreign Minister Penny One indicated, not said, but indicated that he would be arrested if he came to Australia.

Story number two another day, another record for the local share market, with the S and p ASX two hundred hitting a new intra day high and a closing high.

Story number two another day, another record for the local share market, with the S and p ASX two hundred hitting a new intra day high and a closing high.

So it was on the back of Donald Trump nominating a guy called Scott Bessant as Treasury Secretary. He seems a more sensible pick than some of Donald Trump's other picks that helped the local share market hit a record late yesterday morning eighty four hundred and fifty eight point nine points. By the close, it was at eight four one seven points. That's the first time it's ever closed above eighty four hundred points. The interest rate sensitive sectors did best. Think property, healthcare, consumer discretionary on all prices pushed up the big miners. Higher energy prices helped the oil and gas stocks, but the bank stocks will hower after a ruling from the regulator. One thing you've got to mention, or I should mention. Commonwealth Bank. It ended up lower, but not before it hit a new record high yesterday of one hundred and sixty dollars and twenty seven cents a share.

So it was on the back of Donald Trump nominating a guy called Scott Bessant as Treasury Secretary. He seems a more sensible pick than some of Donald Trump's other picks that helped the local share market hit a record late yesterday morning eighty four hundred and fifty eight point nine points. By the close, it was at eight four one seven points. That's the first time it's ever closed above eighty four hundred points. The interest rate sensitive sectors did best. Think property, healthcare, consumer discretionary on all prices pushed up the big miners. Higher energy prices helped the oil and gas stocks, but the bank stocks will hower after a ruling from the regulator. One thing you've got to mention, or I should mention. Commonwealth Bank. It ended up lower, but not before it hit a new record high yesterday of one hundred and sixty dollars and twenty seven cents a share.

That is quite extraordinary. Story number three. Deputy Prime Minister Richard Miles is being sued by his chief of staff, Joe Tanovsky, under the Fair Work Act, claiming adverse action in the form of victimization by.

That is quite extraordinary. Story number three. Deputy Prime Minister Richard Miles is being sued by his chief of staff, Joe Tanovsky, under the Fair Work Act, claiming adverse action in the form of victimization by.

Her lawyer, Michael Bradley. Miss Tanovsky claims she raised concerns of bullying from senior members of staff with mister Miles and her treatment as a result of that was adverse action, which is unlawful. In a statement, she said, and I quite six weeks ago I spoke out publicly to reveal what was happening to me behind closed doors. As far as I know, there has been no investigation in to the behaviors I reported, nor regarding the actions taken by the Deputy Prime Minister against me. Not a single member of government has reached out to check on my well being. Three weeks ago, I wrote a letter to the Prime Minister asking him to intervene and hold the Deputy Prime Minister to account for the way I had been treated. The Prime Minister has not responded. She said the government needs to learn from her experiences. Miss Taranovsky is still employed as mister Miles's chief of staff, but on leave.

Her lawyer, Michael Bradley. Miss Tanovsky claims she raised concerns of bullying from senior members of staff with mister Miles and her treatment as a result of that was adverse action, which is unlawful. In a statement, she said, and I quite six weeks ago I spoke out publicly to reveal what was happening to me behind closed doors. As far as I know, there has been no investigation in to the behaviors I reported, nor regarding the actions taken by the Deputy Prime Minister against me. Not a single member of government has reached out to check on my well being. Three weeks ago, I wrote a letter to the Prime Minister asking him to intervene and hold the Deputy Prime Minister to account for the way I had been treated. The Prime Minister has not responded. She said the government needs to learn from her experiences. Miss Taranovsky is still employed as mister Miles's chief of staff, but on leave.

Just a quick one for story number four, Shawn Private equity group Pacific Equity Partners has made a bid for SG Fleet Groups, sending its share price up more than twenty percent.

Just a quick one for story number four, Shawn Private equity group Pacific Equity Partners has made a bid for SG Fleet Groups, sending its share price up more than twenty percent.

Always good to get a deal in these stories, Michael. The one point two billion dollar bid provides an exit for South African based Supergroup, which owns fifty three percent of SG Fleet Group. Yesterday, the board said it's in the best interests to engage with Pacific Equity Partners and granted them exclusive due diligence of binding offerers expected at some point after this week.

Always good to get a deal in these stories, Michael. The one point two billion dollar bid provides an exit for South African based Supergroup, which owns fifty three percent of SG Fleet Group. Yesterday, the board said it's in the best interests to engage with Pacific Equity Partners and granted them exclusive due diligence of binding offerers expected at some point after this week.

Last one. Story number five bad news for coffee drinkers. Prices are soaring on the back of expected poor crops in Vietnam and Brazil.

Last one. Story number five bad news for coffee drinkers. Prices are soaring on the back of expected poor crops in Vietnam and Brazil.

They're the two biggest coffee producers and Brazil is the biggest exporter. Mind you, Michael, the biggest drinkers number one the Dutch than the finish million. Tens of millions of cups of coffee consumed every day. Last year, one hundred and sixty four million sixty key banks were produced around the world. Arabica futures are up sixty percent this year and at a thirteen year high now. Arabica coffee beans are the style that most Australians consume. Some of the big buyers, like Nesle, have worned that it will up prices. Unfavorable weather in Brazil also in Vietnam, has hurt the crops, but also people in our consuming groups that require more coffee. Forget the singles shot flat white, We're talking double shots all over the place.

They're the two biggest coffee producers and Brazil is the biggest exporter. Mind you, Michael, the biggest drinkers number one the Dutch than the finish million. Tens of millions of cups of coffee consumed every day. Last year, one hundred and sixty four million sixty key banks were produced around the world. Arabica futures are up sixty percent this year and at a thirteen year high now. Arabica coffee beans are the style that most Australians consume. Some of the big buyers, like Nesle, have worned that it will up prices. Unfavorable weather in Brazil also in Vietnam, has hurt the crops, but also people in our consuming groups that require more coffee. Forget the singles shot flat white, We're talking double shots all over the place.

There we go to the top five business stories in five minutes. Thank you very much, Sean, Thank you, Michael. It is Tuesday, the twenty sixth of November twenty twenty four. Remember to hit follow on the podcast and 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. It's a great day,

There we go to the top five business stories in five minutes. Thank you very much, Sean, Thank you, Michael. It is Tuesday, the twenty sixth of November twenty twenty four. Remember to hit follow on the podcast and 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. It's a great day,