1 00:00:03,840 --> 00:00:06,960 Speaker 1: It's Friday, the thirtieth of May twenty twenty five. Welcome 2 00:00:07,000 --> 00:00:09,360 Speaker 1: to the Fast five Business News by Fear and Greed, 3 00:00:09,360 --> 00:00:11,160 Speaker 1: where we give you the top five business stories you 4 00:00:11,200 --> 00:00:13,520 Speaker 1: need to know into five minutes. I'm Michael Thompson and 5 00:00:13,520 --> 00:00:14,720 Speaker 1: good morning, Sean Aylmer. 6 00:00:14,840 --> 00:00:15,920 Speaker 2: Good morning, Michael John. 7 00:00:15,960 --> 00:00:18,160 Speaker 1: Five stories, five minutes. Let's go a story number one. 8 00:00:18,280 --> 00:00:21,800 Speaker 1: A US trade court has blocked President Donald Trump's Liberation 9 00:00:21,920 --> 00:00:25,040 Speaker 1: Day tariffs from going into effect, ruling that the President 10 00:00:25,200 --> 00:00:29,000 Speaker 1: overstepped his authority by imposing sweeping duties on imports. 11 00:00:29,040 --> 00:00:32,080 Speaker 2: The Manhattan based Court of International Trades in the US 12 00:00:32,080 --> 00:00:37,360 Speaker 2: Constitution gives Congress exclusive authority to regulate commerce with other 13 00:00:37,440 --> 00:00:40,640 Speaker 2: countries that can't be ever ridden by the president's emergency 14 00:00:40,720 --> 00:00:44,879 Speaker 2: powers to safeguard the US economy now. According to Reuters, 15 00:00:44,920 --> 00:00:47,400 Speaker 2: the court didn't comment on the wisdom or otherwise of 16 00:00:47,440 --> 00:00:49,720 Speaker 2: the tariffs, just that the federal law doesn't allow for them. 17 00:00:49,880 --> 00:00:53,520 Speaker 2: The Trump administration immediately filed a notice of appeal. Trump 18 00:00:53,560 --> 00:00:56,040 Speaker 2: has claimed a broad authority to set tariffs under the 19 00:00:56,040 --> 00:00:59,600 Speaker 2: International Emergency Economic Powers Act Now that's meant to address 20 00:00:59,640 --> 00:01:03,080 Speaker 2: unusual and extraordinary threats. Basically, the court said this isn't 21 00:01:03,120 --> 00:01:05,279 Speaker 2: an unusual and extraordinary threat. 22 00:01:05,280 --> 00:01:07,800 Speaker 1: Michael, what's been the reaction to this, Sean? 23 00:01:07,920 --> 00:01:11,760 Speaker 2: Well, I'm in financial market's low clear suffering from tariff 24 00:01:11,800 --> 00:01:14,080 Speaker 2: fatigue just a bit. So there wasn't a huge amount 25 00:01:14,240 --> 00:01:18,920 Speaker 2: of response, but Wall Street futures rose, oil jumped, gold 26 00:01:19,080 --> 00:01:21,920 Speaker 2: was lowered, the Aussie dollar fell back because the greenback rose. 27 00:01:22,319 --> 00:01:25,360 Speaker 2: In politics, our local Trade Minister Don Farrell was cautious. 28 00:01:25,400 --> 00:01:28,520 Speaker 2: He said the officials of studying the fallout doesn't necessarily 29 00:01:28,520 --> 00:01:30,920 Speaker 2: mean an end to the trade war on Australian exports. 30 00:01:31,240 --> 00:01:33,480 Speaker 2: Big challenge to Donald Trump and for the US legal 31 00:01:33,480 --> 00:01:36,720 Speaker 2: system this one. Tariff's are a centerpiece of the administration's 32 00:01:36,720 --> 00:01:39,840 Speaker 2: economic agenda. The court says to impose them, they need 33 00:01:39,880 --> 00:01:43,240 Speaker 2: to pass Congress. So will Trump now push this through Congress? 34 00:01:43,600 --> 00:01:46,800 Speaker 2: Will be a little more radical and dangerous and ignore 35 00:01:46,840 --> 00:01:48,160 Speaker 2: the court's rulings. 36 00:01:47,880 --> 00:01:50,720 Speaker 1: All right? Moving on to story number two. Business investments, 37 00:01:50,760 --> 00:01:54,720 Speaker 1: which is a key component of economic growth, has again disappointed, 38 00:01:54,800 --> 00:01:57,720 Speaker 1: with new spending down in the March quarter, adding to 39 00:01:57,760 --> 00:01:59,520 Speaker 1: the argument for more interest rate cuts. 40 00:01:59,560 --> 00:02:01,720 Speaker 2: We care about that business investment because it helps drive 41 00:02:01,760 --> 00:02:04,520 Speaker 2: growth and productivity, but it's been a laggard for years 42 00:02:04,640 --> 00:02:07,440 Speaker 2: during the mining boom. In twenty twelve, business investment was 43 00:02:07,480 --> 00:02:10,919 Speaker 2: about twenty percent of economic output, now about eleven percent. 44 00:02:11,240 --> 00:02:13,520 Speaker 2: Investment in the March quarter reflected a fall and equipment, 45 00:02:13,560 --> 00:02:17,359 Speaker 2: plant and machinery expenditure. There was a rise in buildings 46 00:02:17,360 --> 00:02:21,160 Speaker 2: and structures spending. Broadly, companies are spending on tech media 47 00:02:21,200 --> 00:02:24,880 Speaker 2: and telco products think AI, data centers, utilities. That type 48 00:02:24,919 --> 00:02:28,639 Speaker 2: of stuff investment will weigh on economic growth. Economists a 49 00:02:28,639 --> 00:02:30,640 Speaker 2: tipping a March quarter growth rate for the economy of 50 00:02:30,720 --> 00:02:32,720 Speaker 2: just one point five one point six, one point seven 51 00:02:32,720 --> 00:02:36,760 Speaker 2: percent that comes out next week. That is slow, probably 52 00:02:36,760 --> 00:02:38,640 Speaker 2: too slow for the Reserve Bank, so it does add 53 00:02:38,639 --> 00:02:40,360 Speaker 2: pressure for another interest rate cut. 54 00:02:40,720 --> 00:02:45,160 Speaker 1: Story number three. Green homes fetching up to fifteen percent 55 00:02:45,280 --> 00:02:48,399 Speaker 1: more than non energy efficient units and houses with one 56 00:02:48,400 --> 00:02:52,320 Speaker 1: town reporting price differences of up to seventy five percent. 57 00:02:52,240 --> 00:02:55,080 Speaker 2: So we're talking about the median price here. Energy efficient 58 00:02:55,120 --> 00:02:57,880 Speaker 2: houses sell for one hundred and eighteen thousand dollars more 59 00:02:57,880 --> 00:03:01,480 Speaker 2: than other homes. According to Domain Sustainability in Property twenty 60 00:03:01,520 --> 00:03:05,799 Speaker 2: twenty five report, features such as north facing orientation, double glazing, 61 00:03:06,000 --> 00:03:09,800 Speaker 2: solar are commanding higher resale prices more than fifty percent 62 00:03:09,840 --> 00:03:12,000 Speaker 2: of all houses sold this year include at least one 63 00:03:12,240 --> 00:03:16,680 Speaker 2: energy efficient feature. Middle income households are driving demand across 64 00:03:16,720 --> 00:03:20,440 Speaker 2: regional and out of metro areas, basically debunking the myth 65 00:03:20,440 --> 00:03:24,280 Speaker 2: that eco living is just for prestige buyers. The town 66 00:03:24,520 --> 00:03:27,480 Speaker 2: where the energy efficiency home has the highest premium seventy 67 00:03:27,480 --> 00:03:32,880 Speaker 2: five percent broken hill. That's very hot climate, not a 68 00:03:32,880 --> 00:03:36,120 Speaker 2: lot of infrastructure around, so it kind of makes sense, okay. 69 00:03:36,200 --> 00:03:39,440 Speaker 1: Story number four. The Competition Watchdog is in the early 70 00:03:39,480 --> 00:03:43,040 Speaker 1: stages of an investigation into Area Group, the thirty three 71 00:03:43,120 --> 00:03:45,720 Speaker 1: billion dollar owner of real estate dot com tot Au, 72 00:03:46,040 --> 00:03:49,440 Speaker 1: saying it is concerned about competition in the real estate industry. 73 00:03:49,520 --> 00:03:52,720 Speaker 2: The Australian Competition and Consumer Commission doesn't normally comment on 74 00:03:52,720 --> 00:03:56,760 Speaker 2: ongoing investigations because they're confidential. That made an exception after 75 00:03:56,760 --> 00:04:00,360 Speaker 2: the fin review revealed the watchdog's probe. The Finn says 76 00:04:00,360 --> 00:04:03,680 Speaker 2: the ah We'll see is investigating Aria, which is majority 77 00:04:03,680 --> 00:04:07,040 Speaker 2: owned by Rupert Murdock's News Corp, for allegations of price gouging. 78 00:04:07,440 --> 00:04:10,480 Speaker 2: ARIA will increase subscription prices for real estate agents by 79 00:04:10,520 --> 00:04:13,120 Speaker 2: as much as seventy eight percent from the first of 80 00:04:13,200 --> 00:04:14,400 Speaker 2: July last one. 81 00:04:14,480 --> 00:04:17,120 Speaker 1: Story number five. How about this one. Sean Haley Bieber, 82 00:04:17,400 --> 00:04:20,719 Speaker 1: model and wife of Justin has sold her makeup and 83 00:04:20,760 --> 00:04:25,839 Speaker 1: skincare brand Road to Elf Beauty for about a billion 84 00:04:26,120 --> 00:04:26,960 Speaker 1: US dollars. 85 00:04:27,240 --> 00:04:31,520 Speaker 2: Not bad the buyer, Elf is a budget cosmetic retailer 86 00:04:31,560 --> 00:04:34,159 Speaker 2: looking for a way into a celebrity endorsed product that 87 00:04:34,279 --> 00:04:38,239 Speaker 2: is hugely popular with gen z and millennials. Our Road, 88 00:04:38,920 --> 00:04:43,000 Speaker 2: the Haley Baber group, launched only three years ago, gain 89 00:04:43,040 --> 00:04:46,680 Speaker 2: popularity with TikTok viral products such as its eighteen dollars 90 00:04:46,839 --> 00:04:51,200 Speaker 2: peptide lip treatments, sells exclusively through its own website or 91 00:04:51,240 --> 00:04:54,440 Speaker 2: pop up stores, though it is pushing in to Sephora 92 00:04:54,600 --> 00:04:58,120 Speaker 2: later in the year, sold it, according to routers, for 93 00:04:58,160 --> 00:05:02,719 Speaker 2: a billion dollars. How a beauty brand three years old 94 00:05:02,839 --> 00:05:06,359 Speaker 2: with admittedly an incredibly successful influence of boss can be 95 00:05:06,440 --> 00:05:09,120 Speaker 2: valued at billion dollars when her husband, who has been 96 00:05:09,160 --> 00:05:13,640 Speaker 2: making music for probably decades now, He's worth is about 97 00:05:13,680 --> 00:05:16,400 Speaker 2: three hundred million a third of that billion dollars. 98 00:05:16,640 --> 00:05:19,360 Speaker 1: Do you have any idea what a peptide lip treatment is? 99 00:05:19,400 --> 00:05:22,440 Speaker 2: Sean involves peptides, lips, and treatments. 100 00:05:22,920 --> 00:05:25,000 Speaker 1: All said, it's about as much as I know too. 101 00:05:25,320 --> 00:05:27,960 Speaker 1: All right. That's it, the top five business stories in 102 00:05:28,040 --> 00:05:30,039 Speaker 1: just five minutes. Thank you Sean, Thank you Michael. It 103 00:05:30,120 --> 00:05:33,080 Speaker 1: is Friday, the thirtieth of May twenty twenty five. Remember 104 00:05:33,080 --> 00:05:35,359 Speaker 1: to hit follow on the podcast, and if five minutes 105 00:05:35,360 --> 00:05:37,600 Speaker 1: isn't enough, you can find our longer daily show called 106 00:05:37,600 --> 00:05:40,640 Speaker 1: Fear and Greed wherever you listen to podcasts. I'm Michael 107 00:05:40,680 --> 00:05:42,760 Speaker 1: Thompson and that was the fast five business news by 108 00:05:42,760 --> 00:05:47,320 Speaker 1: Fear and Greed. Have a great day.