1 00:00:03,840 --> 00:00:06,720 Michael Thompson: It's Tuesday, the twenty ninth of April twenty twenty five. 2 00:00:06,800 --> 00:00:09,600 Michael Thompson: Welcome to the Fast five Business News by Fear and Greed, 3 00:00:09,600 --> 00:00:11,640 Michael Thompson: where we give you the top five business stories you 4 00:00:11,720 --> 00:00:14,120 Michael Thompson: need to know in just five minutes. Ah Michael Thompson 5 00:00:14,160 --> 00:00:15,120 Michael Thompson: and good morning, Sean Aylmer. 6 00:00:14,840 --> 00:00:16,959 Sean Aylmer: Good morning, Michael. 7 00:00:17,000 --> 00:00:18,759 Michael Thompson: Sean, five stories in five minutes. Let's go a story. 8 00:00:18,840 --> 00:00:22,200 Michael Thompson: Number one. Labor says it will save six point four 9 00:00:22,239 --> 00:00:24,680 Michael Thompson: billion dollars over the next four years and raised seven 10 00:00:24,760 --> 00:00:27,960 Michael Thompson: hundred and sixty million dollars through higher student visa fees 11 00:00:28,280 --> 00:00:31,440 Michael Thompson: to pay for spending promises made during the election campaign 12 00:00:31,720 --> 00:00:35,720 Michael Thompson: after a major ratings agency warned about Australia's triple A 13 00:00:35,880 --> 00:00:36,560 Michael Thompson: rating treasure. 14 00:00:36,640 --> 00:00:38,960 Sean Aylmer: Jim Chalmers at the bottom line has improved by one 15 00:00:38,960 --> 00:00:41,800 Sean Aylmer: billion dollars when taking into account all the new spending 16 00:00:41,840 --> 00:00:45,200 Sean Aylmer: initiatives on the back of those savings that you outlined. 17 00:00:45,440 --> 00:00:48,680 Sean Aylmer: Oppositionally to Peter Dutton, savings plan is based on cutting 18 00:00:48,680 --> 00:00:51,520 Sean Aylmer: the Commonwealth Public Service by about forty one thousand people, 19 00:00:51,880 --> 00:00:55,680 Sean Aylmer: that's ten billion dollars over five years. Jim Chalmers wasn't 20 00:00:55,720 --> 00:00:58,480 Sean Aylmer: backwards in coming forwards around the two options. Basically said 21 00:00:58,520 --> 00:01:02,000 Sean Aylmer: save money on consultants or sack public servants. The announcement 22 00:01:02,040 --> 00:01:04,480 Sean Aylmer: came after Ratings Agency SMP warned that to show his 23 00:01:04,560 --> 00:01:08,080 Sean Aylmer: credit rating might be at risk if election spending promises 24 00:01:08,120 --> 00:01:11,880 Sean Aylmer: result in larger budget deficit. That's the deficits going forward. 25 00:01:12,200 --> 00:01:14,520 Sean Aylmer: That caused Peter Dutton to claim that the Coalition is 26 00:01:14,560 --> 00:01:18,000 Sean Aylmer: the Party of responsible economic management. The economy hasn't been 27 00:01:18,000 --> 00:01:20,160 Sean Aylmer: a huge focus of the campaign. Really, the cost of 28 00:01:20,200 --> 00:01:22,720 Sean Aylmer: living is what it's been all about. However, an interest 29 00:01:22,760 --> 00:01:25,319 Sean Aylmer: rate cut in February and expectations of another one in 30 00:01:25,319 --> 00:01:27,800 Sean Aylmer: about three weeks probably has helped the government, say too, 31 00:01:27,840 --> 00:01:29,880 Sean Aylmer: I suspect is what's happened in the US and the 32 00:01:29,920 --> 00:01:32,880 Sean Aylmer: trade war in Australia and other countries like Canada, which 33 00:01:32,920 --> 00:01:36,080 Sean Aylmer: went to the polls yesterday. The Trump factor has definitely 34 00:01:36,280 --> 00:01:38,759 Sean Aylmer: helped the incumbents. Michael Sean. 35 00:01:39,440 --> 00:01:41,920 Michael Thompson: Really, we are what four days away now from the election. 36 00:01:42,360 --> 00:01:45,040 Michael Thompson: Yesterday both leaders spent the day criss crossing the country. 37 00:01:45,160 --> 00:01:47,840 Michael Thompson: The focus seems to be more on marginal seats now. 38 00:01:47,800 --> 00:01:50,440 Sean Aylmer: Yeah, absolutely, and that's where they were both campaigning and 39 00:01:50,480 --> 00:01:52,640 Sean Aylmer: probably will for the next few days. There's also plenty 40 00:01:52,680 --> 00:01:54,840 Sean Aylmer: of debate yesterday on the Welkoman to country how it 41 00:01:54,840 --> 00:01:58,160 Sean Aylmer: should be used, Peter Dutton saying it's overused. Also discussion 42 00:01:58,160 --> 00:02:00,960 Sean Aylmer: about why Anthony Albanezi doesn't have old Trump's phone number. 43 00:02:01,000 --> 00:02:02,640 Sean Aylmer: He said he wasn't even sure he had a phone. 44 00:02:03,080 --> 00:02:05,720 Sean Aylmer: Just look at social media. He definitely has a phone. 45 00:02:05,720 --> 00:02:08,240 Michael Thompson: Michael, yeap it would appear, so I'm to story number 46 00:02:08,240 --> 00:02:11,120 Michael Thompson: two now. James Hardy Industry says, well not asked to 47 00:02:11,160 --> 00:02:14,960 Michael Thompson: be exempted from ASX rules after its primary listing shifts 48 00:02:14,960 --> 00:02:17,240 Michael Thompson: to New York, or try to delist itself from the 49 00:02:17,240 --> 00:02:20,960 Michael Thompson: local boss without asking for shareholder approval. 50 00:02:21,120 --> 00:02:23,200 Sean Aylmer: Well put Michael. It's something of a back down from 51 00:02:23,200 --> 00:02:25,520 Sean Aylmer: the company after the AX said it will review what 52 00:02:25,639 --> 00:02:29,480 Sean Aylmer: approvals are required to delist. It follows an outcry after 53 00:02:29,560 --> 00:02:33,120 Sean Aylmer: James Hardy outlined a fourteen billion dollar merger with American 54 00:02:33,120 --> 00:02:35,919 Sean Aylmer: group azk NOW. As part of the deal, Hardy said, 55 00:02:36,400 --> 00:02:39,240 Sean Aylmer: Well It's Hardy's, which has substantial operations in New in 56 00:02:39,360 --> 00:02:42,800 Sean Aylmer: North America, said it would shift its primary listing to 57 00:02:42,919 --> 00:02:46,240 Sean Aylmer: Wall Street. Local shareholders in Hardy's were not going to 58 00:02:46,240 --> 00:02:49,600 Sean Aylmer: get a vote on that decision. Yesterday, the company said 59 00:02:49,720 --> 00:02:53,200 Sean Aylmer: it would hold a shareholder vote before making any decision 60 00:02:53,520 --> 00:02:57,079 Sean Aylmer: to change its ASX listing status, which is a back 61 00:02:57,080 --> 00:02:57,880 Sean Aylmer: down story. 62 00:02:57,919 --> 00:03:01,000 Michael Thompson: Number three. This one perhaps a little bit alarming. Reports 63 00:03:01,000 --> 00:03:04,240 Michael Thompson: of local companies being disrupted by the US China trade 64 00:03:04,280 --> 00:03:07,919 Michael Thompson: war are already trickling out, with flight Center downgrading its 65 00:03:07,919 --> 00:03:09,200 Michael Thompson: full year profit forecast. 66 00:03:09,760 --> 00:03:12,400 Sean Aylmer: Chief executive Graham Turner said things could get worse before 67 00:03:12,440 --> 00:03:14,799 Sean Aylmer: they get better, and leisure bookings to the US are soft. 68 00:03:14,919 --> 00:03:17,760 Sean Aylmer: Business travel bookings are soft in Asia. Fight Center says 69 00:03:17,800 --> 00:03:20,240 Sean Aylmer: it's taking measures to whether the impact of US tariffs, 70 00:03:20,280 --> 00:03:22,960 Sean Aylmer: and investors liked what they heard, pushing the chair price 71 00:03:23,040 --> 00:03:26,080 Sean Aylmer: up by about half percent. The group said ongoing market 72 00:03:26,240 --> 00:03:31,920 Sean Aylmer: uncertainty continues to hit its trading now. Its busiest months 73 00:03:31,960 --> 00:03:34,800 Sean Aylmer: are May in June, so what it said yesterday was 74 00:03:34,800 --> 00:03:38,560 Sean Aylmer: it's unlikely to achieve its profit target. However, it's also 75 00:03:38,600 --> 00:03:42,720 Sean Aylmer: announced measures to cut costs, including redundancies in non customer 76 00:03:42,840 --> 00:03:46,080 Sean Aylmer: facing areas. There are also some downgrades yesterday from Linus, 77 00:03:46,200 --> 00:03:49,160 Sean Aylmer: Rare Earth and from palletmaker Branbles on the back of 78 00:03:49,200 --> 00:03:49,840 Sean Aylmer: this trade war. 79 00:03:50,080 --> 00:03:52,800 Michael Thompson: How about this one? Sorry? Number four. The big supermarkets 80 00:03:52,800 --> 00:03:55,880 Michael Thompson: Willies and Colds have been pressured into giving an update 81 00:03:55,960 --> 00:04:01,680 Michael Thompson: about the shortage on shells of pistachio nutsies. 82 00:04:00,440 --> 00:04:04,000 Sean Aylmer: Have become the hottest flavor after Dubai. I mean, we're 83 00:04:04,000 --> 00:04:09,680 Sean Aylmer: talking flavor generally after Dubai chocolate trend hit TikTok, an 84 00:04:09,760 --> 00:04:12,440 Sean Aylmer: influencer in Dubai, created a thick chocolate bar filled with 85 00:04:12,480 --> 00:04:15,120 Sean Aylmer: pistachio gream in twenty twenty one, didn't do much for 86 00:04:15,160 --> 00:04:17,159 Sean Aylmer: a couple of years, took off in twenty twenty three, 87 00:04:17,279 --> 00:04:20,479 Sean Aylmer: according to news dot com dot Au. Egypt born Dubai 88 00:04:20,560 --> 00:04:24,160 Sean Aylmer: based Maraa Vahira is credited with making the bar in 89 00:04:24,200 --> 00:04:26,800 Sean Aylmer: the initial video, which has been viewed one hundred and 90 00:04:26,839 --> 00:04:30,800 Sean Aylmer: twenty five million times, good honor. The problem is the 91 00:04:30,800 --> 00:04:34,719 Sean Aylmer: pistacio chocolate bar has spread into sandwich spreads ice creams. 92 00:04:34,720 --> 00:04:37,919 Sean Aylmer: As a result, pistachio nuts are in short supply. Therefore, 93 00:04:37,960 --> 00:04:40,000 Sean Aylmer: its prices have gone from about twelve bucks a pound 94 00:04:40,440 --> 00:04:42,960 Sean Aylmer: just sixteen dollars a pound, and there's fears that there's 95 00:04:43,000 --> 00:04:44,359 Sean Aylmer: going to be shortages everywhere. 96 00:04:44,360 --> 00:04:44,480 Michael Thompson: Now. 97 00:04:44,480 --> 00:04:48,080 Sean Aylmer: The good news is that Woolies and coals reckon they 98 00:04:48,080 --> 00:04:49,520 Sean Aylmer: have supplies of pistachios. 99 00:04:49,839 --> 00:04:52,640 Michael Thompson: Last one sean story number five, the value of Donald 100 00:04:52,680 --> 00:04:56,039 Michael Thompson: Trump's meme coin sawed more than fifty percent in one 101 00:04:56,080 --> 00:04:59,720 Michael Thompson: session last week after the issuers of the cryptocurrency said 102 00:04:59,720 --> 00:05:02,240 Michael Thompson: that the the US president would have dinner with the 103 00:05:02,279 --> 00:05:05,040 Michael Thompson: top two hundred and twenty holders next month. 104 00:05:05,160 --> 00:05:07,400 Sean Aylmer: Incredible story. The group would be invited to a private 105 00:05:07,400 --> 00:05:10,120 Sean Aylmer: dinner at the Trump National Golf Club in Washington to 106 00:05:10,240 --> 00:05:13,640 Sean Aylmer: hear Trump talk about the future of crypto. Now twenty 107 00:05:13,680 --> 00:05:16,680 Sean Aylmer: five people who own most of Trump's coins will be 108 00:05:16,760 --> 00:05:19,440 Sean Aylmer: invited to a pre dinner reception and a VIP tour 109 00:05:19,520 --> 00:05:22,760 Sean Aylmer: of the White House the following day. The move, which 110 00:05:22,880 --> 00:05:25,320 Sean Aylmer: came as traders for preparing for a further release of 111 00:05:25,480 --> 00:05:28,599 Sean Aylmer: dollar Trump tokens onto the market, helped drive its price 112 00:05:28,600 --> 00:05:31,400 Sean Aylmer: as high as fourteen dollars seventy, its highest level since 113 00:05:31,440 --> 00:05:34,720 Sean Aylmer: early March. The coin's been controversial, to say the least. 114 00:05:35,000 --> 00:05:37,880 Sean Aylmer: Launched days before the president's inauguration, went from six bucks 115 00:05:37,880 --> 00:05:42,200 Sean Aylmer: to seventy five dollars, sparked accusations that the incoming president 116 00:05:42,279 --> 00:05:46,720 Sean Aylmer: was exploiting his supporter's enthusiasm for financial gain. Analysis by 117 00:05:46,760 --> 00:05:50,040 Sean Aylmer: The Financial Times estimates that Trump's a crypto project made 118 00:05:50,040 --> 00:05:52,440 Sean Aylmer: at least three hundred and fifty million dollars from the 119 00:05:52,520 --> 00:05:53,839 Sean Aylmer: launch of the token in January. 120 00:05:53,880 --> 00:05:55,960 Michael Thompson: All right, there we go, the top five business stories 121 00:05:56,000 --> 00:05:58,440 Michael Thompson: in five minutes. Thank you Sean, Thank you Michael. This Tuesday, 122 00:05:58,520 --> 00:06:01,240 Michael Thompson: the twenty ninth of April twenty two remembered hit follow 123 00:06:01,240 --> 00:06:04,120 Michael Thompson: on the podcast if five minutes isn't long enough for 124 00:06:04,240 --> 00:06:06,680 Michael Thompson: you can find our longer daily show called Fear and 125 00:06:06,800 --> 00:06:09,320 Michael Thompson: Greed wherever you listen to podcasts, and head along to 126 00:06:09,400 --> 00:06:11,520 Michael Thompson: Fearangreed dot com dot au as well and sign up 127 00:06:11,520 --> 00:06:13,880 Michael Thompson: for our free daily newsletter. I'll put a link in 128 00:06:13,920 --> 00:06:16,080 Michael Thompson: the show notes too. I'm Michael Thompson and that was 129 00:06:16,120 --> 00:06:18,560 Michael Thompson: the fast five business news by Fear and Greed. Have 130 00:06:18,600 --> 00:06:19,880 Michael Thompson: a great day.