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Speaker 1: Welcome to the weekend edition of The Fast Five Business

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Speaker 1: News by Fear and Greed. I'm Michael Thompson and Hello

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Speaker 1: Sean Aylmer. Hello Michael Sean. On weekdays, it's all about

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Speaker 1: the Fast five, the top five business stories in five minutes.

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Speaker 1: On the weekend, though, we're still going to keep it

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Speaker 1: to five minutes, probably going to pick out the biggest

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Speaker 1: business story of the week, the most remarkable story, our

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Speaker 1: favorite story, and see we've got a bit of a

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Speaker 1: surprise coming up as well, a great new category that

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Speaker 1: we're putting in just for this week only. Let's jump

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Speaker 1: into it. The biggest business story of the week for me,

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Speaker 1: I reckon, it was everything that happened with Donald Trump

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Speaker 1: this week, and just every week there is something else,

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Speaker 1: but this was a particularly big one. He imposed twenty

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Speaker 1: five percent tariffs on imports from Canada and Mexico, actually

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Speaker 1: introduced them rather than just talking about them. Had happened

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Speaker 1: an extra ten percent tariff on imports from China on

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Speaker 1: top of the previous ten percent. China retaliated their own

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Speaker 1: tariffs on US farm products. What was most chilling, though,

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Speaker 1: I think, is this statement from the Chinese government. They said,

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Speaker 1: if war is what the US wants, be a a

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Speaker 1: a trade war or any other type of war. We're

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Speaker 1: ready to fight till the end. We had the US

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Speaker 1: President speaking to Joint Session of Congress, one hundred minute speech.

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Speaker 1: It was quite an epic lot of rhetoric, slightly better

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Speaker 1: tone towards Ukraine, but that did come after pausing all

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Speaker 1: military aid to Ukraine as well.

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Speaker 2: Shawn, Yeah, incredible story. Just a quick shout out for

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Speaker 2: the national accounts figure zero point six percent growth for

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Speaker 2: the December quarter, one point three percent for the year,

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Speaker 2: best in two years, and finally living standards have started

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Speaker 2: to improve.

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Speaker 1: Most remarkable story, What did you like?

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Speaker 2: My mass remarkable story is how many big companies are

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Speaker 2: on the brink of collapse. This week alone, we found

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Speaker 2: out that Star Entertainment is teetering, hoping for someone to

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Speaker 2: come in and buy up all the debt. The Whalers

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Speaker 2: Steel Works told us that had lost three hundred and

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Speaker 2: nineteen million dollars in seven months before going into administration,

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Speaker 2: owning one point three five billion dollars. Australia's second largest

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Speaker 2: hospital group, Healthscope, said it's failed to fully pay rent

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Speaker 2: on the buildings at house medical facilities. It's been threatened

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Speaker 2: with eviction. We've also we've got a bunch of other

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Speaker 2: failures going on at the moment, Rex Airlines being one,

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Speaker 2: the developing Bulau International, who's got a high profile South

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Speaker 2: Bank project in Melbourne. We've got Mosaic brands. We've had

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Speaker 2: Maya buying Premiere investments, apparel brands. It's just really pushing

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Speaker 2: this message. You can't be too big to fail. Maybe

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Speaker 2: unless you're a bank. I think banks don't fail, But

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Speaker 2: otherwise you can't be too big to fail. It's remarkable

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Speaker 2: how many big businesses are failing at the moment.

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Speaker 1: Yeah, indeed, all right, let's go on to our mystery category,

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Speaker 1: our special treat category. Sean. We've decided and I've got

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Speaker 1: no idea why we decided to do this. Business News Limerick.

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Speaker 1: We've each nominated a story. What did you pick out?

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Speaker 2: What of my my Limerick is all about the good

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Speaker 2: news out of the agricultural sector this week in Australia.

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Speaker 2: The crops and the meat hit records a remarkable feat.

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Speaker 2: But tariffs they fear, could sooner to fear, yet for

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Speaker 2: now their success is quite sweet. Oh it's pure, your

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Speaker 2: your virtue, your limit. What's it about?

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Speaker 1: So we had Donald Trump through the week announcing a

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Speaker 1: US Strategic Reserve of digital assets, bitcoin, et cetera. Think

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Speaker 1: kind of Fort Knox for gold, but this is a

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Speaker 1: digital equivalent. So Sean, Fort Knox is so terribly old.

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Speaker 1: Now it's bitcoin and crypto. They'll hold with the theory,

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Speaker 1: a man, it's all part of the plan make America

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Speaker 1: great with new gold. Oh God, like we've gone to

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Speaker 1: new ground with today's Sean. I don't know whether we'll

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Speaker 1: return to this ground. Let's go to our favorite stories.

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Speaker 1: Can I nominate one for this? Sure? So a bank error.

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Speaker 1: Right when you're playing Monopoly as a kid, you got

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Speaker 1: that card that said bank eraror in your favor, collect

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Speaker 1: ten dollars. Now just multiply that by about kind of

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Speaker 1: several billions, several trillion dollars. This week, City Group we

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Speaker 1: learned two big errors in one month, One where the

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Speaker 1: staff are accidentally copied and pasted an account number into

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Speaker 1: the field for the figure and transferred six billion dollars

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Speaker 1: about a thousand times more than was intended. It was

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Speaker 1: picked up the next business day. The worst one, though,

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Speaker 1: someone at City Group accidentally credited eighty one trillion US

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Speaker 1: dollars to another account that was picked up ninety minutes later.

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Speaker 1: It couldn't have possibly gone through. The bank doesn't even

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Speaker 1: have that much in terms of its asset, So it's

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Speaker 1: just it's an incredible story.

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Speaker 2: That one. It is my favorite story of the week.

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Speaker 2: Just after two months on the market, the BYD plug

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Speaker 2: In hybrid uit, the aptly named Shark six, has become

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Speaker 2: the sixth best selling vehicle in Australia. Hybrids now make

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Speaker 2: up sixteen percent of sales across the nation. The top

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Speaker 2: selling vehicles Toyota Rep four, which is a hybrid. But

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Speaker 2: just the fact that this BYD plug In hybrid has

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Speaker 2: sold so many vehicles is quite incredible. In fact, it

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Speaker 2: actually outsold the perennial tradey favorite, the Isuzu Tmax. The

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Speaker 2: other notable thing to come out of the figures this week,

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Speaker 2: Tesla sales have tumbled down about seventy percent year on year. Incredible,

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Speaker 2: what's happening in that market?

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Speaker 1: Yeah, it certainly is. All Right, there we go five

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Speaker 1: minutes and pretty much everything you need to know in

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Speaker 1: the world of business. Thank you, Sean, Thank you Michael.

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Speaker 1: We'll be back on Monday morning with the top five

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Speaker 1: business stories. In five minutes. Don't forget to hit follow

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Speaker 1: and join us online on Instagram, TikTok, LinkedIn, Facebook and

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Speaker 1: X Michael Thompson and this is the Fast five Business

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Speaker 1: News by Fear and Great