1 00:00:03,480 --> 00:00:06,360 Speaker 1: It's Thursday, the sixth of March twenty twenty five. Welcome 2 00:00:06,400 --> 00:00:08,680 Speaker 1: to the Fast five Business News by Fear and Greed, 3 00:00:08,680 --> 00:00:10,520 Speaker 1: where we give you the top five business stories you 4 00:00:10,560 --> 00:00:12,800 Speaker 1: need to know in just five minutes. I'm Michael Thompson 5 00:00:12,880 --> 00:00:15,520 Speaker 1: and good morning Sean Ale. My good morning, Michael, Sean. 6 00:00:15,640 --> 00:00:17,760 Speaker 1: Five stories, five minutes. Story number one is a big one. 7 00:00:17,800 --> 00:00:20,760 Speaker 1: Six weeks into the job, US President Donald Trump has 8 00:00:20,760 --> 00:00:24,840 Speaker 1: addressed a joint Congress sitting trumpeting his administration's achievements. It 9 00:00:24,880 --> 00:00:28,000 Speaker 1: was very much a self congratulatory kind of speech, perhaps 10 00:00:28,080 --> 00:00:31,960 Speaker 1: though most notable for a more conciliatory tone towards Ukraine. 11 00:00:31,560 --> 00:00:34,839 Speaker 2: That came after Ukrainian President Vladimir Zelenski tweeted that he 12 00:00:34,920 --> 00:00:37,680 Speaker 2: regretted his angry exchange with the president in the White 13 00:00:37,720 --> 00:00:40,479 Speaker 2: House late last week, Donald Trump took credit for what 14 00:00:40,560 --> 00:00:43,560 Speaker 2: he called swift and unrelenting action in turning around the 15 00:00:43,640 --> 00:00:46,760 Speaker 2: nation's economy, and praise to Elon Musk's work as head 16 00:00:46,760 --> 00:00:50,320 Speaker 2: of DOGE. He reiterated plans to impose reciprocal tariffs from 17 00:00:50,360 --> 00:00:54,400 Speaker 2: April two. Now it's unclear what that actually means. For example, 18 00:00:54,480 --> 00:00:56,600 Speaker 2: does Australia's GS so he get caught up in that 19 00:00:56,960 --> 00:01:00,960 Speaker 2: listed a bunch of countries affected European Union, China, Zil, India, Mexico, 20 00:01:01,040 --> 00:01:04,240 Speaker 2: Canada didn't mention Australia. Donald Trump set a record for 21 00:01:04,280 --> 00:01:07,040 Speaker 2: the longest speech to Congress one hour and forty minutes. 22 00:01:07,040 --> 00:01:08,959 Speaker 2: It covered a range of topics, from landing on Mars 23 00:01:09,000 --> 00:01:13,160 Speaker 2: to illegal immigration and reducing rates of autism. He received 24 00:01:13,160 --> 00:01:16,640 Speaker 2: a big cheer when he said America is work no more. 25 00:01:16,840 --> 00:01:19,520 Speaker 2: He also received a great cheer at the end there 26 00:01:19,600 --> 00:01:22,320 Speaker 2: when he said he was saved by God to return 27 00:01:22,360 --> 00:01:23,520 Speaker 2: America to greatness. 28 00:01:23,720 --> 00:01:26,560 Speaker 1: Saw and the other superpower. China is also holding a 29 00:01:26,640 --> 00:01:29,720 Speaker 1: very important get together at the moment the National People's Congress, 30 00:01:29,720 --> 00:01:32,160 Speaker 1: which is the highest parliament in the country, and yesterday, 31 00:01:32,520 --> 00:01:34,600 Speaker 1: yesterday it's set the agenda for the next twelve months. 32 00:01:34,720 --> 00:01:37,200 Speaker 2: Most important thing there is its growth target of five percent. 33 00:01:37,280 --> 00:01:39,759 Speaker 2: It always seems to hit that target. That this year 34 00:01:39,800 --> 00:01:43,119 Speaker 2: will be challenging, particularly with all the tariffs around the place. 35 00:01:43,680 --> 00:01:47,000 Speaker 2: Beijing also announced a bunch of new stimulatory measures, though 36 00:01:47,040 --> 00:01:51,320 Speaker 2: and analysts called them underwhelming. Really, China's probably more important 37 00:01:51,360 --> 00:01:53,280 Speaker 2: for us in the US because it's such a big 38 00:01:53,360 --> 00:01:57,280 Speaker 2: trading partner now China's pushing to burst consumption not necessarily 39 00:01:57,600 --> 00:02:00,560 Speaker 2: helping Australia. We sell iron ore in commodities. Not many 40 00:02:00,600 --> 00:02:03,840 Speaker 2: consumers buy that, big business buys that. But still anything 41 00:02:03,920 --> 00:02:06,320 Speaker 2: to help China should help the Australian economy, all. 42 00:02:06,240 --> 00:02:08,160 Speaker 1: Right, Moving on to story number two. Now, the Australian 43 00:02:08,160 --> 00:02:11,760 Speaker 1: economy sean speaking of, grew at its fastest pace since 44 00:02:11,760 --> 00:02:13,639 Speaker 1: the end of the pandemic last quarter on the back 45 00:02:13,680 --> 00:02:16,400 Speaker 1: of government spending, though the zero point six percentage point 46 00:02:16,400 --> 00:02:18,560 Speaker 1: increased disappoint economists somewhat. 47 00:02:18,639 --> 00:02:20,680 Speaker 2: For the three months to the end of December, there 48 00:02:20,720 --> 00:02:23,440 Speaker 2: was growth in household and government spending, growth in exports, 49 00:02:23,800 --> 00:02:27,280 Speaker 2: declinents in investment, and declins in residential home building. The 50 00:02:27,440 --> 00:02:30,440 Speaker 2: zero point six percent was the fastest paced since December 51 00:02:30,480 --> 00:02:33,400 Speaker 2: twenty two, lifted the annual pace to one point three percent. Now, 52 00:02:33,440 --> 00:02:35,280 Speaker 2: that's all below the long term average of two point 53 00:02:35,320 --> 00:02:37,920 Speaker 2: seven percent, but it's sort of the best it's been 54 00:02:37,960 --> 00:02:39,560 Speaker 2: for a couple of years. So we should take that 55 00:02:39,880 --> 00:02:43,200 Speaker 2: GDP per person, which measures living standards, rose for the 56 00:02:43,200 --> 00:02:47,040 Speaker 2: first time in seven quarters. Decent seven numbers, Michael, except 57 00:02:47,240 --> 00:02:50,720 Speaker 2: that government spending continues to prop up the economy. The 58 00:02:50,760 --> 00:02:53,560 Speaker 2: figure suggests that the Reserve vent could cut interest rates, 59 00:02:53,600 --> 00:02:55,880 Speaker 2: but may not need to in coming months because the 60 00:02:55,919 --> 00:02:59,440 Speaker 2: economy's picking up. Not sure whether Prime Minister Anthony Alberanezi 61 00:02:59,440 --> 00:02:59,920 Speaker 2: wants to hear that. 62 00:03:00,480 --> 00:03:03,120 Speaker 1: Yeah. Indeed, Story number three's are very worrying, one Shawn. 63 00:03:03,200 --> 00:03:06,640 Speaker 1: Residents of southeast Queensland and northeast New South Wales are 64 00:03:06,680 --> 00:03:10,080 Speaker 1: preparing for cyclone Alfred, which is due to make landfall 65 00:03:10,160 --> 00:03:12,000 Speaker 1: tonight as a Category two system. 66 00:03:12,120 --> 00:03:14,400 Speaker 2: Schools are close in the area, Plains are being diverted, 67 00:03:14,440 --> 00:03:17,639 Speaker 2: public transports on whole, people have been evacuated and thousands 68 00:03:17,680 --> 00:03:21,079 Speaker 2: of homes at risk being inundated with water. Alfred is 69 00:03:21,080 --> 00:03:23,919 Speaker 2: supposed to make landfall at high tide, exacerbating the potential 70 00:03:23,919 --> 00:03:26,520 Speaker 2: for flooding. Destructive wind gusts about one hundred and thirty 71 00:03:26,560 --> 00:03:29,519 Speaker 2: kilometers are expected to hit the heavily populated region between 72 00:03:29,520 --> 00:03:32,919 Speaker 2: Gimpi and Queensland and Yamba in New South Wales, with 73 00:03:32,960 --> 00:03:35,960 Speaker 2: the Australian Defense Force and standby and hundreds of thousands 74 00:03:36,000 --> 00:03:39,800 Speaker 2: of emergency standbags being rushed to add risk regions. The 75 00:03:39,880 --> 00:03:42,760 Speaker 2: latest update from the Bureau of Meteorologies that eight hundred 76 00:03:42,800 --> 00:03:44,960 Speaker 2: mills of rain could fall in some areas. 77 00:03:45,120 --> 00:03:46,800 Speaker 1: What do you make of this one? Shan story number 78 00:03:46,800 --> 00:03:50,000 Speaker 1: four after just two months on the market, the BYD 79 00:03:50,280 --> 00:03:53,160 Speaker 1: plug in hybrid uit, the Shark six got to say 80 00:03:53,160 --> 00:03:54,320 Speaker 1: it like that, you're going to put a little bit 81 00:03:54,320 --> 00:03:56,680 Speaker 1: of emphasis into it. Shark six has become the sixth 82 00:03:56,800 --> 00:03:58,600 Speaker 1: best selling vehicle in Australia. 83 00:03:58,680 --> 00:04:01,119 Speaker 2: The other notable fact from the Federal Chamber of Automotive 84 00:04:01,120 --> 00:04:04,440 Speaker 2: Industries February figures is that Tesla sales tumble down seventy 85 00:04:04,440 --> 00:04:06,280 Speaker 2: two percent over the last year and now part of 86 00:04:06,280 --> 00:04:10,200 Speaker 2: that is the resale values of Tesla have fallen sharply, 87 00:04:10,680 --> 00:04:12,160 Speaker 2: and ALYS said they could also be a bit of 88 00:04:12,200 --> 00:04:15,560 Speaker 2: a backlash from Elon Musk's association with Donald Trump. At 89 00:04:15,600 --> 00:04:18,680 Speaker 2: the moment, in any case, pure ev cars are now 90 00:04:18,800 --> 00:04:22,039 Speaker 2: less than six percent of sales. Hybrids are sixteen percent 91 00:04:22,400 --> 00:04:27,159 Speaker 2: of sales. The BYD Shark six outsole perennial trading favorite 92 00:04:27,160 --> 00:04:31,120 Speaker 2: the Iszuzu Dmax ute last month pretty incredible. Well, then 93 00:04:31,160 --> 00:04:33,680 Speaker 2: all top selling vehicle to out around four. Basically that's 94 00:04:33,680 --> 00:04:36,080 Speaker 2: a hybrid. Number two is a Ford Ranger and then 95 00:04:36,600 --> 00:04:38,000 Speaker 2: Toyota Highlucks. 96 00:04:37,760 --> 00:04:40,720 Speaker 1: Last one, story number five. Vineyard values around the globe 97 00:04:40,720 --> 00:04:43,279 Speaker 1: Sean have tumbled by as much as a third in 98 00:04:43,360 --> 00:04:45,560 Speaker 1: the past year. Really, there's a bit of a wine 99 00:04:45,600 --> 00:04:47,640 Speaker 1: glut at the moment because we're not drinking as much 100 00:04:47,680 --> 00:04:48,000 Speaker 1: as we. 101 00:04:48,000 --> 00:04:50,440 Speaker 2: Used to exactly. In its latest wealth report, Property Group 102 00:04:50,560 --> 00:04:53,239 Speaker 2: Night Frank says few of the world's key vineyard regions 103 00:04:53,279 --> 00:04:57,360 Speaker 2: remain unscathed by dropping demand for wine, adding that consumption's 104 00:04:57,400 --> 00:04:59,160 Speaker 2: fall and twelve per cent globally from its peak in 105 00:04:59,200 --> 00:05:01,839 Speaker 2: two thousand and seven. In New Zealand, the Marlborough region 106 00:05:01,880 --> 00:05:05,480 Speaker 2: vineyards down thirty three percent, Napa Valley in California down 107 00:05:05,520 --> 00:05:09,599 Speaker 2: about fifteen percent, Rossa here in Australia, and France's Coatee 108 00:05:09,680 --> 00:05:13,640 Speaker 2: Deeron both down about ten percent. According to The Financial Times, 109 00:05:13,920 --> 00:05:17,760 Speaker 2: wine produces a battling shifting taste, with younger generations increasingly 110 00:05:17,800 --> 00:05:21,640 Speaker 2: opting for different beverages or even shunning alcohol together. Michael's shocking, 111 00:05:21,680 --> 00:05:25,320 Speaker 2: isn't it. In Francis, youngest generation jen Z consume about 112 00:05:25,320 --> 00:05:29,799 Speaker 2: half as much wine per capita as older millennials. Pretty incredible. 113 00:05:29,920 --> 00:05:31,440 Speaker 2: Also not as much demat out of China. 114 00:05:31,520 --> 00:05:33,200 Speaker 1: Yeah, all right, there we go. The top five business 115 00:05:33,240 --> 00:05:35,280 Speaker 1: stories in five minutes. Thank you, Sean, Thank you Michael. 116 00:05:35,360 --> 00:05:37,599 Speaker 1: It is Thursday, the sixth of March twenty twenty five. 117 00:05:37,640 --> 00:05:40,159 Speaker 1: Remember to hit follow on the podcast and five minutes 118 00:05:40,200 --> 00:05:43,200 Speaker 1: isn't enough. You can find our longer daily show called 119 00:05:43,200 --> 00:05:45,919 Speaker 1: Fear and Greed whereever you listen to podcasts. I'm Michael 120 00:05:45,920 --> 00:05:47,920 Speaker 1: Thompson and that was the fast five Business news by 121 00:05:47,960 --> 00:05:49,479 Speaker 1: Fear and Greed. Had a great day.