1
00:00:03,800 --> 00:00:06,760
Speaker 1: It's Wednesday, the tenth of December twenty twenty five. Welcome

2
00:00:06,800 --> 00:00:09,080
Speaker 1: to the Fast five Business News by Fear and Agreed,

3
00:00:09,080 --> 00:00:10,840
Speaker 1: where we give you the top five business stories you

4
00:00:10,880 --> 00:00:13,120
Speaker 1: need to know in just five minutes. Oh, Michael Thompson,

5
00:00:13,160 --> 00:00:15,960
Speaker 1: and good morning Sean Ayleman, Good morning, Michael Shawn. Five

6
00:00:16,000 --> 00:00:18,319
Speaker 1: big stories to get through in five minutes. Let's get

7
00:00:18,440 --> 00:00:21,040
Speaker 1: cracking with story number one. The Reserve Bank does not

8
00:00:21,360 --> 00:00:24,840
Speaker 1: expect any more interest rate cuts in the foreseeable future

9
00:00:25,079 --> 00:00:28,200
Speaker 1: and has warned that inflation risks are rising. The comments

10
00:00:28,240 --> 00:00:31,120
Speaker 1: came after the Central Bank left the official cash rate

11
00:00:31,440 --> 00:00:33,760
Speaker 1: on hold three point six percent yesterday.

12
00:00:33,760 --> 00:00:36,920
Speaker 2: The banks at underlying inflation had risen recently, and while

13
00:00:36,960 --> 00:00:39,200
Speaker 2: some of the increase was driven by temporary factors, there's

14
00:00:39,240 --> 00:00:43,479
Speaker 2: also been a broader lift in prices risks have tilted

15
00:00:43,680 --> 00:00:47,159
Speaker 2: to the upside. The Central Bank didn't sound quite as

16
00:00:47,200 --> 00:00:50,160
Speaker 2: wirried initially, but then when Michelle Bullock, the Governor, held

17
00:00:50,200 --> 00:00:52,720
Speaker 2: her press conference, she certainly made it clear that we

18
00:00:52,880 --> 00:00:55,800
Speaker 2: are not going to see any rate cuts in the

19
00:00:55,880 --> 00:00:58,680
Speaker 2: foreseeable future. According to the Reserve Bank, private demand is

20
00:00:58,720 --> 00:01:01,800
Speaker 2: being supported by rising house spending and investment. The housing

21
00:01:01,840 --> 00:01:05,360
Speaker 2: market's pretty good. The economy is being driven more so

22
00:01:05,480 --> 00:01:08,200
Speaker 2: by the private sector than it had was the final Reserve

23
00:01:08,240 --> 00:01:10,360
Speaker 2: Bank meeting for the year. The bank cut rates in February,

24
00:01:10,360 --> 00:01:12,560
Speaker 2: May and August. If the rate cycle is over, it

25
00:01:12,600 --> 00:01:16,399
Speaker 2: will be the narrowest or smallest rate reduction cycle since

26
00:01:16,440 --> 00:01:19,880
Speaker 2: the regulation of the Australian economy in the nineteen eighties.

27
00:01:20,400 --> 00:01:23,080
Speaker 1: Straight out to the announcement, Federal Treasurer Jim Chalmers was

28
00:01:23,200 --> 00:01:25,240
Speaker 1: very quick to emphasize that some of the pickup in

29
00:01:25,280 --> 00:01:27,399
Speaker 1: inflation reflected temporary factors right.

30
00:01:27,480 --> 00:01:29,640
Speaker 2: He also liked the Central Bank's comments that there were

31
00:01:29,720 --> 00:01:32,800
Speaker 2: improvements in private sector spending and investing. He said, well,

32
00:01:32,840 --> 00:01:35,080
Speaker 2: millions of Australians would have preferred a rate cut. The

33
00:01:35,240 --> 00:01:38,520
Speaker 2: RBA's decision was not unexpected.

34
00:01:38,280 --> 00:01:40,880
Speaker 1: Just very quickly. What about rates? What's the outlook here?

35
00:01:40,880 --> 00:01:43,440
Speaker 1: Did Michelle Bull look RBA governor, give us hints about

36
00:01:43,440 --> 00:01:44,120
Speaker 1: what's happening?

37
00:01:44,319 --> 00:01:47,200
Speaker 2: Well, we know they're not going down, but i'll quote her,

38
00:01:47,240 --> 00:01:49,880
Speaker 2: The question is is it just an extended hold from

39
00:01:49,880 --> 00:01:53,800
Speaker 2: here or is it possibility of a rate rise. I

40
00:01:53,800 --> 00:01:56,760
Speaker 2: couldn't put a probability on those, but I think they're

41
00:01:56,840 --> 00:01:59,320
Speaker 2: the two things the board will be looking closely at

42
00:01:59,600 --> 00:02:02,680
Speaker 2: important data point now is the February inflation figure.

43
00:02:02,880 --> 00:02:06,880
Speaker 1: Okay, Story number two. The parliamentary expenses scandal is growing

44
00:02:06,960 --> 00:02:10,520
Speaker 1: and it's engulfing more parliamentarians from both sides of politics.

45
00:02:10,639 --> 00:02:14,160
Speaker 2: The laterster revelation, Communications Minister former Sports Minister Anika Wells

46
00:02:14,240 --> 00:02:16,799
Speaker 2: left a comcar limousine waiting for nearly ten hours while

47
00:02:16,840 --> 00:02:20,200
Speaker 2: she attended the twenty twenty two NRL and nrl W

48
00:02:20,440 --> 00:02:22,760
Speaker 2: Grand Finals that would have cost the taxpayer more than

49
00:02:22,760 --> 00:02:25,600
Speaker 2: twelve hundred dollars according to The City Morning Herald. She

50
00:02:25,680 --> 00:02:27,960
Speaker 2: also charged taxpayers nearly one thousand dollars for a comcar

51
00:02:28,040 --> 00:02:29,639
Speaker 2: to wait for her while she was at the Australian

52
00:02:29,639 --> 00:02:34,600
Speaker 2: Open Tennis Expenses data reveals Trade Minister Don Farrell used

53
00:02:34,600 --> 00:02:38,200
Speaker 2: his entitlements to fly his family around the country. The

54
00:02:38,240 --> 00:02:41,760
Speaker 2: Astraining Financial Review reported Attorney General Michelle Rowland bill taxpayers

55
00:02:41,800 --> 00:02:43,880
Speaker 2: more than twenty thousand dollars for her family to travel

56
00:02:43,880 --> 00:02:47,040
Speaker 2: to Western Australia. The debate really has come down to

57
00:02:47,240 --> 00:02:51,079
Speaker 2: the letter of the law versus community expectations. And you

58
00:02:51,160 --> 00:02:53,640
Speaker 2: know all this news is not passing the pub test. No.

59
00:02:53,960 --> 00:02:57,840
Speaker 1: Story number three. Global online forum Reddit is preparing to

60
00:02:57,840 --> 00:03:00,239
Speaker 1: mount a legal challenge to the Australian government's will old

61
00:03:00,280 --> 00:03:03,079
Speaker 1: first social media ban for under sixteen year olds.

62
00:03:02,960 --> 00:03:05,600
Speaker 2: Comes as the band commences today and is a direct

63
00:03:05,639 --> 00:03:08,240
Speaker 2: threat by a major tech company to one of the

64
00:03:08,320 --> 00:03:11,400
Speaker 2: PM's headline policies. The tech platform is enlist the top

65
00:03:11,440 --> 00:03:14,600
Speaker 2: barrister and local law firm to challenge the legislation. According

66
00:03:14,639 --> 00:03:16,600
Speaker 2: to the fin Review, any challenge is expected to be

67
00:03:16,600 --> 00:03:18,880
Speaker 2: through the High Court and is likely to focus on

68
00:03:18,960 --> 00:03:22,919
Speaker 2: teenager's implied writer freedom of political communication. Now there has

69
00:03:23,000 --> 00:03:26,240
Speaker 2: been another High Court challenge fronted by two fifteen year

70
00:03:26,280 --> 00:03:28,960
Speaker 2: olds based on that same argument. Currently, ten social media

71
00:03:29,000 --> 00:03:33,760
Speaker 2: platforms included in the new law Facebook, Instagram, threads, TikTok, Snapchat, Twitch,

72
00:03:33,880 --> 00:03:37,440
Speaker 2: kick x, YouTube, Reddit, Good luck to war your parents

73
00:03:37,440 --> 00:03:38,040
Speaker 2: out there today.

74
00:03:38,120 --> 00:03:39,840
Speaker 1: It's going to be a very big day for fourteen

75
00:03:39,880 --> 00:03:45,240
Speaker 1: year olds on LinkedIn Sean the only platform that's still

76
00:03:45,280 --> 00:03:49,520
Speaker 1: allowed anyway. Story numberfore a game of Throne style fighters

77
00:03:49,560 --> 00:03:53,360
Speaker 1: on for Warner Brothers Discovery, with media giant paramount Skydance

78
00:03:53,480 --> 00:03:56,120
Speaker 1: bidding one hundred and eight billion US dollars for the group,

79
00:03:56,200 --> 00:03:59,000
Speaker 1: just two days after Netflix lobbed a seventy two billion

80
00:03:59,120 --> 00:04:02,320
Speaker 1: US dollar bid and US President Donald Trump has inferred

81
00:04:02,360 --> 00:04:03,640
Speaker 1: that he will be kingmaker.

82
00:04:03,920 --> 00:04:07,080
Speaker 2: So different prices that Netflix wants the studio and backcutalogs

83
00:04:07,080 --> 00:04:10,080
Speaker 2: including Harry Potter, Game of Thrones, plans to spin off

84
00:04:10,120 --> 00:04:12,960
Speaker 2: cable channels such as CNN and Discovery. Paramount wants a

85
00:04:12,960 --> 00:04:15,680
Speaker 2: lot which offer provides better outcome for shareholders. Very much

86
00:04:15,720 --> 00:04:19,359
Speaker 2: up to interpretation. What's interesting. Netflix made the bid. Trump

87
00:04:19,400 --> 00:04:21,520
Speaker 2: then came out and said he's worried about competition issues.

88
00:04:21,920 --> 00:04:25,799
Speaker 2: Then Paramount makes its bid. Paramount of course owns network

89
00:04:25,839 --> 00:04:28,960
Speaker 2: ten here CBS in the US. It's backed by a

90
00:04:28,960 --> 00:04:33,320
Speaker 2: Trump ally, Larry Ellison. Also involved Trump's son in law,

91
00:04:33,839 --> 00:04:37,560
Speaker 2: Jared Kushna, and a Gulf nation sovereign wealth fund. You

92
00:04:37,600 --> 00:04:40,200
Speaker 2: can kind of see where it's going. Yeah, stay tuned.

93
00:04:41,200 --> 00:04:43,520
Speaker 1: Last one story number five. Donald Trump is not just

94
00:04:43,640 --> 00:04:48,160
Speaker 1: putting US businesses first. He's also favoring US tourists, introducing

95
00:04:48,160 --> 00:04:51,120
Speaker 1: a one hundred and fifty dollars charge per person for foreigners,

96
00:04:51,520 --> 00:04:57,280
Speaker 1: including Australians, visiting popular US national parks like the Grand Canyon, Yosemite,

97
00:04:57,320 --> 00:04:58,520
Speaker 1: and Yellowstone.

98
00:04:58,640 --> 00:05:01,240
Speaker 2: That's on top of the existing entrance fees. Trump signed

99
00:05:01,240 --> 00:05:04,680
Speaker 2: an executive order and said National Parks with About America. First,

100
00:05:05,040 --> 00:05:07,080
Speaker 2: that extra one hundred US doll iss let's say it's

101
00:05:07,080 --> 00:05:10,080
Speaker 2: one hundred and fifty busie non resident fee applies to

102
00:05:10,120 --> 00:05:13,680
Speaker 2: eleven of the most popular parks, take effect from January one.

103
00:05:13,800 --> 00:05:15,880
Speaker 2: You know, Family of Four Games of the Grand Canyon,

104
00:05:16,480 --> 00:05:20,520
Speaker 2: after airfares and car hire est charges another six hundred

105
00:05:20,520 --> 00:05:22,760
Speaker 2: and fifty dollars just to see nature savage.

106
00:05:22,800 --> 00:05:24,719
Speaker 1: All right, there we go, the top five business stories

107
00:05:24,720 --> 00:05:27,039
Speaker 1: in five minutes. Thank you Sean, Thank you Michael. It

108
00:05:27,120 --> 00:05:29,640
Speaker 1: is Wednesday, the tenth of December twenty twenty five. Remember

109
00:05:29,680 --> 00:05:32,400
Speaker 1: to hit follow on the podcast and five minutes isn't enough.

110
00:05:32,400 --> 00:05:34,560
Speaker 1: You're going to find our longer daily show called Fear

111
00:05:34,600 --> 00:05:37,640
Speaker 1: and Greed wherever you listen to podcasts. I'm Michael Thompson

112
00:05:37,720 --> 00:05:39,560
Speaker 1: and that was the fast five business news by Fear

113
00:05:39,600 --> 00:05:40,840
Speaker 1: and Greed. Have a great day.