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Speaker 1: It's Tuesday, the eleventh of February twenty twenty five. Welcome

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

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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. Are Michael Thompson

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Speaker 1: and Good Morning, Sean.

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Speaker 2: Aylmer, Good morning Michael Shawn.

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Speaker 1: Five big stories to get through in five minutes. Let's

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Speaker 1: get cracking. Story Number one, Australian steel and aluminium exports

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Speaker 1: to the United States could be hit by tariffs after

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Speaker 1: US President Donald Trump announced a twenty five percent impost

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Speaker 1: on metal imports from all countries.

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Speaker 2: He flagged it a couple of weeks ago and confirmed

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Speaker 2: it over the last thirty six hours, though he didn't

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Speaker 2: say when it would come into effect. Australia sells more

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Speaker 2: than a billion dollars worth of steel and aluminium to

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Speaker 2: the US. This has actually happened before. When Donald Trump

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Speaker 2: was their first time round Malcolm Turnbull was Prime Minister.

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Speaker 2: He negotiated an exemption for ossie exports on the back

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Speaker 2: of Australia having a trade surplus with the US. Yesterday,

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Speaker 2: it's the Turnbull said Anthony Alberanezi needs to do the

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Speaker 2: same thing. Mind you back then, Canada, Mexico, EU. They

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Speaker 2: all want exemptions. Well, Donald Trump doesn't seem to be

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Speaker 2: quite so friendly to them this time around. Mister Albanezi

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Speaker 2: said he scheduled the discussion with Donald Trump about the tariffs.

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Speaker 2: He said he'll keep everyone informed on that. One bit

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Speaker 2: of a litmus test for the federal government, for the

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Speaker 2: Trade Minister Don Farrell, for Anthony Albernezi. It's kind of

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Speaker 2: the first time under the new Trump administration that we've

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Speaker 2: run foul of what he's talking about. It'd be interesting

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Speaker 2: to watch.

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Speaker 1: What impact did this have yesterday, Sean, How did it

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Speaker 1: hit the local metal manufacturers and then before that as

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Speaker 1: well the iron all miners that provide the raw material

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Speaker 1: for the steel.

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Speaker 2: Very much depends where they have factories. Bluescopes the biggest

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Speaker 2: steel maker in Australia. Its share price actually rose. It

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Speaker 2: might benefit from it because it's spent five billion dollars

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Speaker 2: in the US, particularly around Ohio building factories. Generates about

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Speaker 2: half its profits from its North American operations. That might

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Speaker 2: be okay. Bisiloy Steel, another company here, doesn't operate in

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Speaker 2: the US. Its share price fell. You mentioned the big

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Speaker 2: minus at BHP. Forts few medal Rio. They export iron

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Speaker 2: order China. Of course, that goes to make steel. Fortunately

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Speaker 2: for them, most of that steel's used in China, not

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Speaker 2: sold to the US.

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Speaker 1: Okay, moving on to story number two. Now Sean and

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Speaker 1: profit season kicks off properly this week. JB High five

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Speaker 1: was the first big name to report yesterday. It posted

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Speaker 1: a big jump in sales a decent rise in earnings

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Speaker 1: for the second half of twenty twenty four, setting a

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Speaker 1: pretty high bar really for other retailers who are reporting

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Speaker 1: profits in coming weeks.

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Speaker 2: That's right, JB's a bit of a market. Darling sells

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Speaker 2: everything from Fridgi's to computers, also owns the Good Guys.

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Speaker 2: Revenue up ten percent, profit up eight percent. All that's

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Speaker 2: pretty good. Problem is, CEO Terry Smart said sales had

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Speaker 2: continued into January, though he was somewhat cautious. This is

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Speaker 2: a company that investors expect to do really, really well

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Speaker 2: all the time. When the boss says it's cautious, people

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Speaker 2: get nervous. As a result, AB's chef price ended down

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Speaker 2: five percent yesterday, quite the drop.

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Speaker 1: Story number three. The share price for car Sales Sean

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Speaker 1: fell seven percent yesterday after it reported slightly disappointing earnings

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Speaker 1: and said that demand for secondhand electric vehicles had dropped well.

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Speaker 2: Demand for secondhand vehicles are generally ak. Falling prices of

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Speaker 2: new evs, particularly Tesla's, is hurting the second hand EV market,

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Speaker 2: said Kemeron McIntyre, the CEO of car sales Now. Last

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Speaker 2: year Tesla cut prices on the model hy this Well.

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Speaker 2: Last month byd, the second big EV maker in the country,

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Speaker 2: said it would sell the first sub thirty thousand dollars

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Speaker 2: EV in Australia. So when you have new car prices falling,

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Speaker 2: that does nothing for the secondhand car market. The other

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Speaker 2: thing about car sales which investors didn't like yesterday is

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Speaker 2: the company's delaying price increases in the US, which is

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Speaker 2: its second biggest market.

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Speaker 1: Story Number four, there's more bad press for Wistech Global,

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Speaker 1: with a former employee suing billion founder Richard White and

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Speaker 1: his new wife Zena Nasa over workplace issues.

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Speaker 2: Comes after a high profile legal dispute between mister White

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Speaker 2: and a former lover last year resulted in a settlement.

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Speaker 2: The claim against mister White and miss Nasa and the

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Speaker 2: billionaire's private investment vehicle comes as Weisstech confirms it's investigating

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Speaker 2: two confidential complaints made by an employee and a supplier

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Speaker 2: against the company's founder. Nine Meat is also reporting that

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Speaker 2: mister White is facing new allegations of inappropriate conduct. Also

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Speaker 2: yet to sign a ten year consultancy agreement with the group,

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Speaker 2: which he negotiated when he resigned as chief executive late

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Speaker 2: last year. Now, mister White has come out in a statement.

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Speaker 2: He said he's open, trusting, generous, and as a consequence,

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Speaker 2: naive to how extreme wealth changes things. I was certainly

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Speaker 2: not prepared for the numerous attempts to extract money from

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Speaker 2: me that I've received over the past five years from

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Speaker 2: people from all walks of life, both male and female.

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Speaker 2: I am now much more guarded, skeptical, and prepared to

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Speaker 2: defend myself against spurious claims.

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Speaker 1: Last one story number five show on the Philadelphia Eagles

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Speaker 1: have beaten the Kansas City Chiefs to win the Super

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Speaker 1: Bow in a game that was pretty much over by halftime.

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Speaker 1: The surprise, though, was the booing of two of them

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Speaker 1: of America's superstars.

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Speaker 2: Yes, Donald Trump was booed. You don't see that very often.

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Speaker 2: He was cheered as well, but about fifty to fifty

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Speaker 2: on that one when he appeared on the big screen.

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Speaker 2: So too Taylor Swift. His boyfriend Travis Kelsey plays for

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Speaker 2: the Kansas City Chiefs. She was booed big time by

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Speaker 2: the Philadelphia Eagles fans. Plenty of famous people there, Rupert

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Speaker 2: and Lachlan Murdoch, Apple's Tim Cook, Argentinian World Cup winner

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Speaker 2: Lionel Messi, hip hop star Jay z Adam Sandler, and

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Speaker 2: actors John Hann, Bradley Cooper. They are all Their average

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Speaker 2: ticket price on resale platforms about ten thousand bucks.

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Speaker 1: That is quite something. All right, there we go the

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

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Speaker 1: Thank you Michael. It is Tuesday, the eleventh of February

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Speaker 1: twenty twenty five. Remembered to hit follow on the podcast

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Speaker 1: and five minutes isn't enough. You can find our longer

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Speaker 1: daily show called Fear and Greed where if you listen

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Speaker 1: to podcasts. I'm Michael Thompson and that was the past

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Speaker 1: five business news by Fear and Greed. Have a great

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Speaker 1: day up