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Speaker 1: It's Monday, the fourth of August twenty twenty five. Welcome

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Speaker 1: to the Fast five Business News by Fear and Greed,

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Speaker 1: where we give you the top five business stories you

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Speaker 1: need to know in just five minutes. I'm Michael Thompson

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Speaker 1: and good morning Sean Aylmer.

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Speaker 2: Good morning Michael, Sean.

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Speaker 1: Five massive stories to race through in five minutes, so

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Speaker 1: let's get going. Story number one. Global share markets are

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Speaker 1: under pressure after US President Donald Trump announced a raft

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Speaker 1: of tariff's on friend and foe alike as his deadline

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Speaker 1: for trade deals past Now. Australia has done relatively well,

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Speaker 1: attracting a ten percent.

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Speaker 2: Tariff we have, but some regions and countries ended up

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Speaker 2: with lower tariffs than first announced. Liberation Day. The EU

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Speaker 2: and South Korea, for example, ended up with fifteen percent tariffs,

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Speaker 2: others with much more. Brazil got a fifty percent tariff.

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Speaker 2: The deals generally lack detail that'll unsettled markets for a while. Also,

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Speaker 2: some countries goods will attract ay fifteen percent tariff, yet

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Speaker 2: when US products are sold into those nations there'll be

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Speaker 2: no tariff. Seems a bit unfair. They also come with

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Speaker 2: agreements to invest in the US, so the European unions

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Speaker 2: promised to invest seven hundred and fifty billion US dollars.

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Speaker 2: Not quite sure what that means, how that will be fulfilled.

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Speaker 2: Most importantly, the latest set of country in sector tariff

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Speaker 2: rates still imply a rise in the average US import

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Speaker 2: tariff rate around twenty percent. Was fifteen percent since April

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Speaker 2: previously was about two percent. This is from amp Shane Oliver.

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Speaker 2: So that's bad news because at the end of the day,

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Speaker 2: it's higher prices for the US consumers, consumers and businesses.

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Speaker 2: Disrupts the US economy potentially global growth.

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Speaker 1: We mentioned that Australia was levied with a ten percent tariff.

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Speaker 1: What sectors I suppose does that hurt most?

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Speaker 2: Well, about one quart of our exports to the US

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Speaker 2: are meat products, so that gets hit hardest, Gold, transport

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Speaker 2: equipment as well. We know aluminum and steel are going

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Speaker 2: to be hit with big tariffs. The other one is pharmaceuticals.

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Speaker 2: We actually export a lot of pharmaceuticals to the US.

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Speaker 2: We're not quite sure what that rate will be, but

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Speaker 2: that could be hit quite hard. Financial market investors are

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Speaker 2: just struggling to come up with a coherent strategy to

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Speaker 2: trade through all this turmoil. Wall Street said he'd had

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Speaker 2: its biggest or. Wall Street did have its biggest daily

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Speaker 2: fall in more than two months over the weekend with

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Speaker 2: the S and P five hundred fall and one point

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Speaker 2: six percent.

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Speaker 1: Okay, moving on to story number two now, the Allen

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Speaker 1: labor government in Victoria wants to legislate to ensure employees

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Speaker 1: in the state get to work from home two days

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Speaker 1: a week.

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Speaker 2: She announced that the Labor Party state conference over the weekend.

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Speaker 2: The decision is controversial. That's probably understating it. Unions like

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Speaker 2: a businesses don't, Alan said, I quote her work from

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Speaker 2: home works for families and it's good for the economy.

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Speaker 2: Not everyone can work from home, but everyone can benefit.

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Speaker 2: If you can do your job from home. Will make

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Speaker 2: it your right because where on your side end quote.

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Speaker 2: Alan has suggested the Equal Opportunity Act, which protects personal

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Speaker 2: attributes such as race and sex, will be amended to

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Speaker 2: prevent employers from discriminating against people who want to work

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Speaker 2: from home. The goal is to pass legislation next year

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Speaker 2: before Victorians go to the polls in November.

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Speaker 1: Storry number three, the Productivity Commission has suggested a cup

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Speaker 1: to the company tax rate bay up to ten percentage

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Speaker 1: points for businesses with revenue under a billion dollars, while

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Speaker 1: adding a new five percent net cash flow tax for

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Speaker 1: all companies that leave some exposed to higher taxes.

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Speaker 2: The proposals sent to Federal Treasury Jim Charmers would lift

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Speaker 2: the effective tax rate on Australia's five hundred biggest companies,

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Speaker 2: while ninety nine percent of companies would pay less tax.

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Speaker 2: Are the banks of Markets, miners, Telstra etc. They pay

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Speaker 2: thirty percent plus the new cash flow tax. Smaller businesses

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Speaker 2: pay twenty percent. The draft proposal for a two T

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Speaker 2: corporate tax system, made in an interim report commission by

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Speaker 2: Charmers is likely to divide the business community. Not surprisingly,

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Speaker 2: the productivity commissions of the proposal would encourage more investment

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Speaker 2: and tools and technology to make workers more productive. Charmers

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Speaker 2: actually welcomed the work. Of course. The government's Economic reform

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Speaker 2: round Table is later this month.

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Speaker 1: Story number four. National dwelling values rose by zero point

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Speaker 1: six percent in July, with capital city recording increases.

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Speaker 2: Darwin led the way up two point two percent, followed

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Speaker 2: by Perth. The slowest rises or least rises. I suppose Hobart,

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Speaker 2: Melbourne and the Act, but all capital cities did rise

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Speaker 2: last month. Median values are also high at one point

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Speaker 2: two million in Sydney, brisbanees in the nine hundred thousands, Canberra, Adelaide,

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Speaker 2: Perth Melbourne in the eight hundred thousands. All this, of

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Speaker 2: course ahead of expected raid cuts. Also, preliminary clearance traits

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Speaker 2: remained strong across the nation. We've had been above seventy

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Speaker 2: percent for eight weeks now, Michael.

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Speaker 1: Story number five Sean you mentioned at Wall Street's biggest

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Speaker 1: fall in more than two months over the weekend. One

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Speaker 1: of the contributing factors to that was weaker than expected

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Speaker 1: US jobs data.

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Speaker 2: Yes, now, that raised concerns about the health of the

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Speaker 2: world's largest economy. The July figures were lower than expected,

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Speaker 2: and the May and June figures were revised down. That

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Speaker 2: took the three month average to just thirty five thousand,

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Speaker 2: the weakest stretch of jobs growth in about fifteen years

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Speaker 2: if you exclude the pandemic. More extraordinary than the data

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Speaker 2: was a response from US President Donald Trump. What did

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Speaker 2: he do? He sacked the Bureau of Labor Statistics commissioner.

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Speaker 2: Her name is Erica mcintarfa. He says he wants to

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Speaker 2: replace her with someone more competent because she's massaging the

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Speaker 2: figures extraordinary.

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Speaker 1: Yeah, all right, there we go the top five business

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Speaker 1: stories in five minutes. Thank you Sean, Thank you Michael.

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Speaker 1: It is Monday, the fourth of August twenty twenty five.

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Speaker 1: you listen to podcasts, I'm Michael Thompson and that was

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Speaker 1: the past five business news by Fear and Greed. Have

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Speaker 1: a great day.