1
00:00:03,080 --> 00:00:06,200
Speaker 1: It's Tuesday, the eleventh of March twenty twenty five. Welcome

2
00:00:06,240 --> 00:00:08,559
Speaker 1: to the Fast five Business News by Fear and Greed,

3
00:00:08,560 --> 00:00:10,400
Speaker 1: where we give you the top five business stories you

4
00:00:10,440 --> 00:00:12,639
Speaker 1: need to know in just five minutes. A'm Michael Thompson

5
00:00:12,680 --> 00:00:14,080
Speaker 1: and good morning Sean Aylmer.

6
00:00:14,160 --> 00:00:15,040
Speaker 2: Good morning, Michael.

7
00:00:15,080 --> 00:00:17,520
Speaker 1: Shown five stories five minutes. Let's go a story. Number one.

8
00:00:17,560 --> 00:00:22,160
Speaker 1: American casino giant Bally's Corporation has proposed a two hundred

9
00:00:22,200 --> 00:00:26,520
Speaker 1: and fifty million dollar recapitalization for Star Entertainment, which would

10
00:00:26,600 --> 00:00:29,200
Speaker 1: result in it taking at least a majority stake.

11
00:00:29,320 --> 00:00:31,520
Speaker 2: This is getting a very complex story this one. Three

12
00:00:31,600 --> 00:00:35,680
Speaker 2: parties were involved in talks to save Star, potentially a fourth.

13
00:00:35,840 --> 00:00:38,199
Speaker 2: In a letter sent to Stars Board, Bally's said it

14
00:00:38,200 --> 00:00:40,440
Speaker 2: would inject new funds into the Star in return for

15
00:00:40,440 --> 00:00:42,640
Speaker 2: at least a fifty point one percent steak and was

16
00:00:42,760 --> 00:00:46,360
Speaker 2: very open to discussing a larger transaction. Bally's owns and

17
00:00:46,360 --> 00:00:49,120
Speaker 2: operates nineteen casinos in the United States, along with the

18
00:00:49,159 --> 00:00:51,440
Speaker 2: golf course in New York and a horse track in Canada.

19
00:00:51,600 --> 00:00:55,640
Speaker 2: Recently quite Aspa's Casino in the UK. This is quite

20
00:00:55,640 --> 00:00:58,720
Speaker 2: different to the Stars Board agreeing already to sell its

21
00:00:58,760 --> 00:01:02,920
Speaker 2: steak in Queen's Warf project in Brisbane to Hong Kong

22
00:01:03,000 --> 00:01:06,679
Speaker 2: based shareholders, and these are shareholders in the Star. Under

23
00:01:06,720 --> 00:01:09,839
Speaker 2: that deal, which is at binding heads of agreement stage,

24
00:01:09,880 --> 00:01:11,680
Speaker 2: the Star gets rid of a promise to pay at

25
00:01:11,760 --> 00:01:14,160
Speaker 2: least two hundred and twelve million dollars for the precinct

26
00:01:14,160 --> 00:01:18,480
Speaker 2: in the future. That takes a big overhang off its shoulders.

27
00:01:18,480 --> 00:01:20,880
Speaker 2: Don't know the casinos have shelders, you get what I mean.

28
00:01:21,200 --> 00:01:23,720
Speaker 2: CEO Steve McCann has also negotiated a two hundred and

29
00:01:23,720 --> 00:01:26,959
Speaker 2: fifty million dollar bridging loan from another party, a crowd

30
00:01:27,000 --> 00:01:28,880
Speaker 2: called King Street Capital from New York.

31
00:01:28,959 --> 00:01:31,119
Speaker 1: So where does this leave Star then sean because it's

32
00:01:31,160 --> 00:01:34,280
Speaker 1: not training because it still hasn't finalized its half yere accounts.

33
00:01:34,280 --> 00:01:36,360
Speaker 1: But it does kind of feel like there's life in

34
00:01:36,400 --> 00:01:37,080
Speaker 1: the gaming group.

35
00:01:37,319 --> 00:01:40,319
Speaker 2: Yes, so the Ballet's offer is pretty much no strings attached.

36
00:01:40,319 --> 00:01:42,800
Speaker 2: They say they've done significant due diligence, could do it

37
00:01:42,880 --> 00:01:45,560
Speaker 2: by the twenty eighth of March, which is incredibly quick.

38
00:01:46,480 --> 00:01:49,560
Speaker 2: It says it wants to keep stars current business assets

39
00:01:49,600 --> 00:01:52,160
Speaker 2: and platforms in place. All that is attractive, But the

40
00:01:52,200 --> 00:01:55,280
Speaker 2: other deal with Hong Kong's Chow Tai Fook Enterprises and

41
00:01:55,320 --> 00:01:58,760
Speaker 2: Far East consorting them is fairly well advanced. Those two

42
00:01:58,840 --> 00:02:02,440
Speaker 2: organizations a shareholder in Stars, so it's problematic whether that

43
00:02:02,480 --> 00:02:04,640
Speaker 2: could be unwigh on the bottom line. As you say,

44
00:02:04,800 --> 00:02:06,320
Speaker 2: there's interesting Star again.

45
00:02:06,160 --> 00:02:08,840
Speaker 1: Indeed there is. Okay, moving on to story number two now,

46
00:02:09,000 --> 00:02:13,480
Speaker 1: Sean and bitcoin is heading back towards US eighty thousand

47
00:02:13,480 --> 00:02:15,720
Speaker 1: dollars a unit. What's going on, the.

48
00:02:15,680 --> 00:02:22,240
Speaker 2: Reality of the Trump Administration's Strategic Cryptocurrency Reserve just hasn't

49
00:02:22,280 --> 00:02:25,160
Speaker 2: met the promise. Basically, after the weekend, Donald Trump signed

50
00:02:25,160 --> 00:02:28,800
Speaker 2: and executive order that will collect bitcoin seized in government

51
00:02:28,919 --> 00:02:33,280
Speaker 2: criminal cases to start the reserve. That's a long way

52
00:02:33,720 --> 00:02:36,440
Speaker 2: from the US government buying about twenty twenty five percent

53
00:02:36,480 --> 00:02:39,480
Speaker 2: of bitcoin on issue to start the fund, which some

54
00:02:39,680 --> 00:02:44,840
Speaker 2: analysts had hope for. That means that nowhere near as

55
00:02:44,919 --> 00:02:50,360
Speaker 2: much up is going behind purchase of bitcoin. Therefore, its

56
00:02:50,600 --> 00:02:54,240
Speaker 2: price appreciation may not be what analysts had hoped for,

57
00:02:54,360 --> 00:02:58,680
Speaker 2: and it was dumped. Industry participants really want the US

58
00:02:58,880 --> 00:03:01,120
Speaker 2: government to buy big chunk, They're not going to do

59
00:03:01,160 --> 00:03:01,840
Speaker 2: it at this point.

60
00:03:01,960 --> 00:03:05,639
Speaker 1: Okay, I'm just story number three back home again. Australia

61
00:03:05,800 --> 00:03:08,600
Speaker 1: is headed towards a hung parliament according to the latest

62
00:03:08,600 --> 00:03:11,640
Speaker 1: News poll, with the majority of voters not overly happy

63
00:03:11,880 --> 00:03:15,080
Speaker 1: with Anthony Albernizi's ALP government, but on the other side

64
00:03:15,160 --> 00:03:17,720
Speaker 1: not yet prepared to vote for Peter Dutton's coalition.

65
00:03:17,800 --> 00:03:20,120
Speaker 2: If the pole reflects reality, then a bunch of Independence

66
00:03:20,160 --> 00:03:22,240
Speaker 2: and Greens are going to be winners from the next

67
00:03:22,320 --> 00:03:26,240
Speaker 2: federal election expected in early May. The Australian poll shows

68
00:03:26,400 --> 00:03:29,280
Speaker 2: the coalition ahead on a two party preferred basis of

69
00:03:29,320 --> 00:03:31,840
Speaker 2: fifty one nine percent, but Anthony Alberanize's the head of

70
00:03:31,840 --> 00:03:35,440
Speaker 2: Peter Dutton as preferred PM. On a primary vote basis,

71
00:03:35,560 --> 00:03:38,040
Speaker 2: coalition is ahead by about seven points. Based on the

72
00:03:38,080 --> 00:03:41,840
Speaker 2: two party preferred result, Michael it suggests a swing against

73
00:03:41,920 --> 00:03:45,440
Speaker 2: the government of three percent. If uniform across the country,

74
00:03:45,440 --> 00:03:47,840
Speaker 2: that would lead to the ALP losing seven seeds, which

75
00:03:47,840 --> 00:03:50,680
Speaker 2: suggests it would lead a minority government.

76
00:03:51,120 --> 00:03:55,520
Speaker 1: Storry number four. Superannuation funds in Australia SEAN have recorded

77
00:03:55,520 --> 00:03:59,880
Speaker 1: their second successive negative month thanks to falling equity markets.

78
00:03:59,520 --> 00:04:02,240
Speaker 2: So the media balanced super fund option was down about

79
00:04:02,280 --> 00:04:05,000
Speaker 2: a percent in February. Bit more for the growth option

80
00:04:05,560 --> 00:04:08,280
Speaker 2: this financial year, though so far so from July to

81
00:04:08,280 --> 00:04:10,120
Speaker 2: the end of February, funds are up about seven percent

82
00:04:10,160 --> 00:04:13,160
Speaker 2: according to super Ratings. What I thought was interesting though,

83
00:04:13,200 --> 00:04:15,760
Speaker 2: there was this really interesting cool interview with the boss

84
00:04:15,800 --> 00:04:18,680
Speaker 2: of Ossie Super, Paul Schrader, in the finn Review yesterday.

85
00:04:18,920 --> 00:04:21,640
Speaker 2: Now Ossie Super manages three hundred and sixty five billion dollars.

86
00:04:21,680 --> 00:04:25,479
Speaker 2: It is the biggest super company. It's running out of

87
00:04:25,520 --> 00:04:28,360
Speaker 2: options in terms of where to put the money, particularly

88
00:04:28,400 --> 00:04:30,880
Speaker 2: when it comes to the Aussie equity market. In fact,

89
00:04:31,200 --> 00:04:33,560
Speaker 2: it's looking over seas to get better returns. For every

90
00:04:33,600 --> 00:04:37,800
Speaker 2: ten dollars going into Ossie Super, seven dollars is now

91
00:04:37,839 --> 00:04:39,000
Speaker 2: being invested overseas.

92
00:04:39,839 --> 00:04:42,960
Speaker 1: Last one story number five, This is really cool. Sean

93
00:04:43,360 --> 00:04:47,680
Speaker 1: car parts supply of Bridgestone is testing advances in tires

94
00:04:47,720 --> 00:04:51,640
Speaker 1: that never puncture, never puncture at all, potentially smoothing the

95
00:04:51,680 --> 00:04:55,120
Speaker 1: path for more self driving vehicles. That is cool, right, Yeah.

96
00:04:55,160 --> 00:04:58,240
Speaker 2: The Japanese company, which vis with France's Michelin to be

97
00:04:58,279 --> 00:05:02,080
Speaker 2: the world's largest attire supplier, has developed an air free

98
00:05:02,200 --> 00:05:04,679
Speaker 2: version it says can support a one ton vehicle driving

99
00:05:04,680 --> 00:05:07,640
Speaker 2: at sixty kilometers an hour. According to the FT, significant

100
00:05:07,680 --> 00:05:10,520
Speaker 2: innovations and tires have improved their performance at high speeds

101
00:05:10,520 --> 00:05:14,640
Speaker 2: and weights, making them continuous contenders to replace pneumatic tires,

102
00:05:15,440 --> 00:05:17,680
Speaker 2: just at the time that driverless vehicles are putting a

103
00:05:17,720 --> 00:05:22,440
Speaker 2: premium on safety and no stoppages. But but pneumatic tires

104
00:05:22,480 --> 00:05:25,159
Speaker 2: still have huge performance and cost advantages. There are still

105
00:05:25,160 --> 00:05:27,719
Speaker 2: ways to go. The new tires are being trialed on

106
00:05:27,760 --> 00:05:30,880
Speaker 2: shuttle buses and tourist vehicles as Japan pushes to bring

107
00:05:30,920 --> 00:05:35,600
Speaker 2: autonomous driving through all communities to address shortages of drivers

108
00:05:35,600 --> 00:05:38,440
Speaker 2: and mechanics. I love the idea of having a tie

109
00:05:38,480 --> 00:05:39,320
Speaker 2: that doesn't puncture.

110
00:05:39,440 --> 00:05:41,320
Speaker 1: Yeah, great idea. All right, there we go the top

111
00:05:41,320 --> 00:05:42,720
Speaker 1: five business stories in five minutes.

112
00:05:42,760 --> 00:05:43,960
Speaker 2: Thank you Sean, Thank you Michael.

113
00:05:44,040 --> 00:05:46,760
Speaker 1: It is Tuesday, the eleventh of March twenty twenty five.

114
00:05:46,880 --> 00:05:49,279
Speaker 1: Remember to hit follow on the podcast. In five minutes

115
00:05:49,320 --> 00:05:52,039
Speaker 1: isn't enough. You can find out longer daily show called

116
00:05:52,080 --> 00:05:55,080
Speaker 1: Fear and Greed wherever you listen to podcasts. I'm Michael

117
00:05:55,080 --> 00:05:57,400
Speaker 1: Thompson and that was the fast five business news by

118
00:05:57,440 --> 00:06:00,200
Speaker 1: Fear and Greed. Have a great day, Yah,