1 00:00:04,200 --> 00:00:06,760 Speaker 1: Welcome to the weekend edition of the Fast Five. Business 2 00:00:06,760 --> 00:00:09,360 Speaker 1: News by Fear and Greed. Are Michael Thompson and Hello 3 00:00:09,480 --> 00:00:12,479 Speaker 1: Sean Ayleman, Hello Michael Suwan. On weekdays, it's all about 4 00:00:12,480 --> 00:00:14,880 Speaker 1: the Fast five, the top five business stories in five minutes. 5 00:00:14,920 --> 00:00:16,759 Speaker 1: But on the weekend we still keep it to five minutes. 6 00:00:16,800 --> 00:00:19,000 Speaker 1: But we're going to pick out the biggest business story 7 00:00:19,040 --> 00:00:22,360 Speaker 1: of the week, the most remarkable story, a mystery category 8 00:00:22,440 --> 00:00:25,920 Speaker 1: that changes each week, and then our favorite story. Let's 9 00:00:26,160 --> 00:00:27,800 Speaker 1: get cracking though with the biggest story. 10 00:00:27,800 --> 00:00:29,720 Speaker 2: What was it for you? Well, this is the week 11 00:00:29,880 --> 00:00:33,800 Speaker 2: that all the Donald Trump tariffs on friend and foe 12 00:00:33,840 --> 00:00:38,080 Speaker 2: alike began. Some regions and countries ended up with lower 13 00:00:38,120 --> 00:00:40,519 Speaker 2: tariffs and first announced on the Liberation Day. The European 14 00:00:40,600 --> 00:00:44,239 Speaker 2: Union's South Career examples. Others much worse. Brazil, Australia at 15 00:00:44,240 --> 00:00:47,919 Speaker 2: ten percent ended up pretty well off, yet others were 16 00:00:47,960 --> 00:00:50,199 Speaker 2: hit with tariffs. Then they said they're still going to 17 00:00:50,200 --> 00:00:52,839 Speaker 2: deal with Russia, so Trump doubled them. So India went 18 00:00:52,840 --> 00:00:55,120 Speaker 2: from twenty five to fifty percent. When India said it 19 00:00:55,160 --> 00:00:57,880 Speaker 2: was going to sell oil to Russia. The deals lack 20 00:00:57,960 --> 00:01:00,480 Speaker 2: a certain amount of detail. There's also all this talk 21 00:01:00,520 --> 00:01:03,600 Speaker 2: about lots of spending by these countries in the US. 22 00:01:03,720 --> 00:01:06,680 Speaker 2: Not sure how that's going to work out. Most importantly, 23 00:01:07,040 --> 00:01:10,040 Speaker 2: the latest set of country in sector tariffs imply a 24 00:01:10,160 --> 00:01:15,360 Speaker 2: rise in the average US import tariff freight to eighteen percent. 25 00:01:15,920 --> 00:01:19,800 Speaker 2: That's a study from Yale. That is how you put 26 00:01:19,959 --> 00:01:25,199 Speaker 2: sand in the wheels of commerce. Does that work almost anyway? Yeah, 27 00:01:25,240 --> 00:01:27,000 Speaker 2: we are going to have inflation and we are going 28 00:01:27,040 --> 00:01:29,119 Speaker 2: to have slower economic growth as a result. And this 29 00:01:29,200 --> 00:01:30,640 Speaker 2: is the week it all started. 30 00:01:30,600 --> 00:01:33,800 Speaker 1: Nice, little theatrical flourish there, Sean, I really appreciate it. 31 00:01:34,160 --> 00:01:35,800 Speaker 1: The other big story this week was one that kind 32 00:01:35,800 --> 00:01:38,959 Speaker 1: of combines politics and business. We had Victorian Premiere just 33 00:01:39,000 --> 00:01:42,280 Speaker 1: into Alan unveiling a plan to legislate working from home 34 00:01:42,360 --> 00:01:44,959 Speaker 1: two days a week, hoping to make it law by 35 00:01:45,000 --> 00:01:47,800 Speaker 1: next year. Unions like it. Business does not like it. 36 00:01:47,840 --> 00:01:50,400 Speaker 1: They say it's intrusive, that it's unconstitutional, that it will 37 00:01:50,480 --> 00:01:54,120 Speaker 1: hurt productivity, might see companies relocate elsewhere, into other states 38 00:01:54,160 --> 00:01:56,000 Speaker 1: or potentially overseas. I say it should be up to 39 00:01:56,040 --> 00:01:59,120 Speaker 1: the business and the employee to negotiate, and that mandates 40 00:01:59,120 --> 00:02:01,480 Speaker 1: are never a particularly good idea. What it does tell us, Sean, 41 00:02:01,600 --> 00:02:04,080 Speaker 1: is that we are heading for an almighty battle between 42 00:02:04,160 --> 00:02:08,280 Speaker 1: business and government and unions all over. Working from home in. 43 00:02:08,280 --> 00:02:10,280 Speaker 2: De CACHETI my most remarkable story. 44 00:02:10,440 --> 00:02:10,840 Speaker 1: Please. 45 00:02:11,080 --> 00:02:14,360 Speaker 2: TPG Capital is a private equity group. It bought Infomedia, 46 00:02:14,440 --> 00:02:17,639 Speaker 2: or it's buying Infomedia, a software group on the local exchange, 47 00:02:17,880 --> 00:02:21,040 Speaker 2: TPG Capital that is. However, the AX got it wrong 48 00:02:21,360 --> 00:02:27,120 Speaker 2: and tagged TPG Telecom the local telco. What happened. People 49 00:02:27,120 --> 00:02:32,840 Speaker 2: thought TPG Telecom was buying Infomedia. They sold off TPG Telecom. 50 00:02:33,000 --> 00:02:35,600 Speaker 2: This mistake was realized that to reverse all the trades 51 00:02:35,639 --> 00:02:38,560 Speaker 2: that had occurred. But it is remarkable that in this 52 00:02:38,639 --> 00:02:41,720 Speaker 2: day and age such a mistake can be made by 53 00:02:41,760 --> 00:02:45,960 Speaker 2: the market operator ASX list ASX Limited. It got the 54 00:02:46,080 --> 00:02:50,120 Speaker 2: names confused. Now the AX is also already under enormous 55 00:02:50,120 --> 00:02:53,680 Speaker 2: scrutiny from ASSEK and the Reserve Bank over its back 56 00:02:53,800 --> 00:02:58,760 Speaker 2: end systems called chess. This new mistake puts more pressure 57 00:02:58,760 --> 00:03:01,440 Speaker 2: on them. The day after words, funnily enough, the Corporate 58 00:03:01,480 --> 00:03:03,920 Speaker 2: Regulated said that it's in the final stages of considering 59 00:03:03,960 --> 00:03:08,400 Speaker 2: an application to approve an alternate of listing market to rival. Ax. 60 00:03:08,800 --> 00:03:11,959 Speaker 2: AX share price tumble ten percent on all this news, 61 00:03:12,120 --> 00:03:14,040 Speaker 2: not surprising, Just a. 62 00:03:14,080 --> 00:03:17,600 Speaker 1: Quick, remarkable story from me Sewan. NBNCo it's partnering with 63 00:03:17,800 --> 00:03:22,360 Speaker 1: Amazon to completely, well pretty much overhaul Australia's satellite satellite 64 00:03:22,600 --> 00:03:26,239 Speaker 1: internet market next year. Satellite internet are two words that 65 00:03:26,280 --> 00:03:29,320 Speaker 1: are hard to say together. They are Project Kaiper. It 66 00:03:29,400 --> 00:03:31,560 Speaker 1: is called great name. There's going to be more than 67 00:03:31,639 --> 00:03:34,880 Speaker 1: three thousand low Earth orbit satellites that will replace the 68 00:03:34,960 --> 00:03:38,880 Speaker 1: NBN's aging Skymaster system. It's going to compete with SpaceX. 69 00:03:39,120 --> 00:03:43,760 Speaker 1: The beneficiaries of this shawn three hundred thousand regional and 70 00:03:43,840 --> 00:03:47,680 Speaker 1: remote customers who are suddenly going to get fast internet 71 00:03:48,080 --> 00:03:49,680 Speaker 1: and it is long overdue. 72 00:03:49,840 --> 00:03:53,560 Speaker 2: Absolutely. Let's talk about our mystery category. It's stories that 73 00:03:53,600 --> 00:03:57,160 Speaker 2: appeal to our subjective buyers. And of course I'm a 74 00:03:57,200 --> 00:03:59,480 Speaker 2: newspaper man, have been for years. And this week we 75 00:03:59,520 --> 00:04:01,760 Speaker 2: found out that the two major publishers, News Corporate nine, 76 00:04:01,800 --> 00:04:05,480 Speaker 2: along with Australian Community Media, have signed a deal to 77 00:04:05,560 --> 00:04:09,080 Speaker 2: consolidate print sits. So The Australian, The finn Review, The Herald, 78 00:04:09,080 --> 00:04:14,080 Speaker 2: The Courier Mail, the Laied Advertiser, the Daily Telly, the 79 00:04:14,120 --> 00:04:16,839 Speaker 2: Canberra Times, They're all going to keep running for the 80 00:04:16,880 --> 00:04:20,320 Speaker 2: next five years. I don't know who buys. I don't 81 00:04:20,320 --> 00:04:22,240 Speaker 2: know who buys them. Really, not many people buy them, 82 00:04:22,279 --> 00:04:24,800 Speaker 2: but there are still a bunch of advertisers. I just 83 00:04:24,800 --> 00:04:27,000 Speaker 2: think it's good. The newspaper isn't dead. 84 00:04:27,680 --> 00:04:30,440 Speaker 1: Yeah, and look, Sean, you mentioned that you're a newspaper man. Well, 85 00:04:30,640 --> 00:04:32,440 Speaker 1: in my spare time, I have written a couple of 86 00:04:32,520 --> 00:04:36,000 Speaker 1: novels and they are called How to Be Remembered in 87 00:04:36,040 --> 00:04:37,039 Speaker 1: All the Perfect Days. 88 00:04:36,839 --> 00:04:38,320 Speaker 2: And they are available. 89 00:04:37,880 --> 00:04:40,839 Speaker 1: At all shame book shops. Shameless, not shameless at all. Anyway, 90 00:04:41,080 --> 00:04:45,120 Speaker 1: onto the story. The Productivity Commission has released a report 91 00:04:45,240 --> 00:04:47,200 Speaker 1: estimating that AI could add more than one hundred and 92 00:04:47,240 --> 00:04:50,640 Speaker 1: sixteen billion dollars to Australia's economy over the next decade, 93 00:04:51,360 --> 00:04:53,320 Speaker 1: and they're wanting the government not to get too kind 94 00:04:53,360 --> 00:04:55,800 Speaker 1: of heavy with the restrictions and the regulation of it. 95 00:04:56,279 --> 00:05:01,080 Speaker 1: One line in this report basically suggests that the current 96 00:05:01,080 --> 00:05:04,279 Speaker 1: Australian copyright law is a barrier to building and training 97 00:05:04,360 --> 00:05:07,120 Speaker 1: AI models, and it's got creatives up in arms right 98 00:05:07,200 --> 00:05:11,159 Speaker 1: that journalists, artists, musicians, authors, everyone is a bit kind 99 00:05:11,160 --> 00:05:13,560 Speaker 1: of concerned about what this is going to mean, whether 100 00:05:13,640 --> 00:05:16,560 Speaker 1: it is going to mean that that big tech giants 101 00:05:16,880 --> 00:05:20,560 Speaker 1: and AI can be using this to train these large 102 00:05:20,640 --> 00:05:24,200 Speaker 1: language models and have unfettered access to books and songs 103 00:05:24,240 --> 00:05:27,200 Speaker 1: and all this kind of thing without any financial recognition 104 00:05:27,480 --> 00:05:29,840 Speaker 1: for those people who are created. So a lot of 105 00:05:29,920 --> 00:05:32,039 Speaker 1: concern out there in the industry and how to be 106 00:05:32,080 --> 00:05:33,480 Speaker 1: remembered and all the perfect dad's available. 107 00:05:33,520 --> 00:05:36,960 Speaker 2: Now there's only one favorite story out there, Michael tell 108 00:05:37,040 --> 00:05:37,600 Speaker 2: us about it. 109 00:05:38,080 --> 00:05:40,920 Speaker 1: Look, it is really Elon Musk. We don't talk about 110 00:05:41,000 --> 00:05:42,880 Speaker 1: him anywhere here. Enough short, it's time to give him 111 00:05:42,920 --> 00:05:45,440 Speaker 1: a bit of a platform here. He's been awarded twenty 112 00:05:45,600 --> 00:05:48,680 Speaker 1: nine billion US dollars worth of Tesla shares. Basically, it's 113 00:05:48,680 --> 00:05:51,720 Speaker 1: an effort to keep him at Tesla because he had 114 00:05:51,720 --> 00:05:55,120 Speaker 1: a previous massive pay deal rejected, had one foot out 115 00:05:55,160 --> 00:05:57,880 Speaker 1: the door. Now Tesla's done a deal to keep him 116 00:05:57,880 --> 00:06:00,159 Speaker 1: there for another two years at least with this twenty 117 00:06:00,240 --> 00:06:03,680 Speaker 1: nine billion US dollars worth of shares. Under a lot 118 00:06:03,680 --> 00:06:06,680 Speaker 1: of pressure, Tesla sales have been slipping, the share prices fall, 119 00:06:06,760 --> 00:06:12,120 Speaker 1: and hopefully having the highest paid CEO in history will 120 00:06:12,160 --> 00:06:15,479 Speaker 1: help keep him there and help turn the place around. 121 00:06:15,560 --> 00:06:17,680 Speaker 1: All Right, there we go, show on five minutes and 122 00:06:17,680 --> 00:06:19,120 Speaker 1: pretty much everything you need to know in the world 123 00:06:19,120 --> 00:06:19,440 Speaker 1: of business. 124 00:06:19,480 --> 00:06:20,679 Speaker 2: Thank you very much. Thanks Michael. 125 00:06:20,839 --> 00:06:22,600 Speaker 1: We'll be back on Monday morning with the top five 126 00:06:22,600 --> 00:06:24,839 Speaker 1: business stories in five minutes. Don't forget to follow and 127 00:06:24,880 --> 00:06:28,200 Speaker 1: join us online on Instagram, TikTok, LinkedIn, Facebook and X. 128 00:06:28,440 --> 00:06:30,560 Speaker 1: I'm Michael Thompson and this is the fast five business 129 00:06:30,600 --> 00:06:31,640 Speaker 1: news by Fear and Greet.