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Speaker 1: It's Wednesday, the fifth of February twenty twenty five. Welcome

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Speaker 1: to the Fast five Business News by Fear and Greed,

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Speaker 1: where we give you the top five business stories you

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Speaker 1: need to know in just five minutes. I'm Michael Thompson

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Speaker 1: and good morning Sean Aylmer.

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Speaker 2: Good morning, Michael Sewan.

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Speaker 1: Five big stories once again to get through in just

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Speaker 1: five minutes, So let's get cracking. Story number one. Donald

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Speaker 1: Trump diplomacy continues to rile financial markets, with the Aussie

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Speaker 1: dollar bouncing yesterday and the local share market rebounding before

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Speaker 1: falling away again at the end of the day.

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Speaker 2: Hard to kevin, I I mean hard to know exactly

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Speaker 2: what's going on at the moment, because things change by

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Speaker 2: the hour. What we do now, Mexican President Cloudy Shinebohm

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Speaker 2: and Canadian Prime Minister Justin Trudeau both negotiated the postponement

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Speaker 2: of the twenty five percent tariff on imports from both nations,

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Speaker 2: which the US had scheduled for yesterday. We also know

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Speaker 2: that tariffs on China came into effect overnight. Now China

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Speaker 2: has already said it's going to impose retalent tree tariffs

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Speaker 2: against the US. They will hear things like large engine cars,

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Speaker 2: pickup trucks, coal, LNG oil, agricultural machinery. We also heard

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Speaker 2: the US president talking about accessing Ukrainian rare earths in

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Speaker 2: exchange for military support in the war against Russia. He

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Speaker 2: signed an executive order to create a sovereign well fund

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Speaker 2: which might be able to buy TikTok. You also have

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Speaker 2: countries now jumping or sort of offering stuff to Trump

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Speaker 2: to prevent tariff. So India's Narendra Modi has cut duties

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Speaker 2: on imports from textiles and motorcycles and pledged to accept

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Speaker 2: thousands of unlawful migrants from the US and will maintain

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Speaker 2: the US dollar as its trading currency. Amazing.

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Speaker 1: So what happened to financial markets then? As a result

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Speaker 1: of that somewhat turbulent twenty four hours, oil.

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Speaker 2: Prices dropped sharply yesterday after the postponement of tariff's and

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Speaker 2: Canada copp prices. The bell whether for the global outlook jumped,

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Speaker 2: golds trading year record high. It's a good place to

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Speaker 2: go in uncertain times. Ossie dollar is back under sixty two.

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Speaker 2: US sends bad news for anyone traveling abroad. Crypto's bounced

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Speaker 2: aff to big tumbles, bitcoins back above one hundred thousand

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Speaker 2: US dollars unit. The Aussie market rallied really sharply in

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Speaker 2: the first half hour, yessay, but actually finished lower. A

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Speaker 2: lot of confusion out there, a lot of uncertainty.

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Speaker 1: Yeah, certainly is okay. Moving on to story number two.

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Speaker 1: Now Shaw in Federal Parliament was back in session and

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Speaker 1: there was some agreement, plenty of disagreement. On day one

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Speaker 1: of the new year.

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Speaker 2: Everyone started at church and I start afterwards. There was

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Speaker 2: agreement over the vile nature of anti Semitism in Australia.

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Speaker 2: Then there was disagreement of the government's handling of what's

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Speaker 2: going on. Prime Minister Anthony Alberizi naturally defended his handling

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Speaker 2: of it, citing the creation of new offenses and more

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Speaker 2: funding for Holocaust education. Oppositionally to Peter Dutton said Jewish

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Speaker 2: community said the Jewish community was paying the price for

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Speaker 2: the lack of a strong stance against the anti Israel

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Speaker 2: protests since October twenty twenty three. Based on Question Time yesterday,

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Speaker 2: outside anti Semitism, cost of living seems to be the

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Speaker 2: big issue as we run towards the election.

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Speaker 1: All right, story number three, you have about this, Westpac

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Speaker 1: will offer business customers a year's worth of basic legal

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Speaker 1: services as it looks to boost its small business portfolio

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Speaker 1: that market.

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Speaker 2: The small business market is fiercely competitive. National Australian Bank

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Speaker 2: is a leader. It's got about twenty one percent market

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Speaker 2: share than Commwealth Bank about nine eight percent. Westpac's at

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Speaker 2: about sixteen percent. But it's done really well making ground

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Speaker 2: about thirty percent of its earnings and now from business banking.

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Speaker 2: West Pac spent ten million dollars investing in legal services

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Speaker 2: provide a law path. Basically, that investment will allow its customers,

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Speaker 2: its new customers for twelve months to access archives of

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Speaker 2: legal documents and get some help around business registrations. A

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Speaker 2: creative way to attract customers.

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Speaker 1: Yeah, certainly is story number three. Yes, certainly is now

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Speaker 1: story number four. Sales of Tesla electric vehicles in Australia

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Speaker 1: fell thirty three percent last month, according to the Electric

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Speaker 1: Vehicle Council.

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Speaker 2: The AVC said seven hundred and thirty on Tesla models

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Speaker 2: were sold in January, compared to more than eleven hundred

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Speaker 2: in January last year. Pollstar EV's also had a sales slide,

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Speaker 2: falling forty five percent to just eighty two vehicles. However,

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Speaker 2: over the full year, EV sales succeeded one hundred thousand

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Speaker 2: for the first time. Well that's an estimate, but I'm

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Speaker 2: pretty sure they exceeded one hundred thousand for the first time.

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Speaker 2: About nine and a half percent market share. If you

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Speaker 2: live in the Act, you're most likely to buy an EV,

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Speaker 2: and the Tesla model Y was the biggest seller. Helping

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Speaker 2: a lot is the fact that there are now over

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Speaker 2: one thousand fast charging sites nationwide. However, the industry goal

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Speaker 2: of reaching fifty percent of all sales being EV's by

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Speaker 2: twenty thirty looks a little too challenging.

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Speaker 1: Last one story number five. Apple has criticized a pornography

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Speaker 1: app newly available on iPhones in the European Union, saying

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Speaker 1: the block's digital policy was undermining consumer confidence in Apple.

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Speaker 2: Since it first opened the App store on iPhones in

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Speaker 2: two thousand and eight, Apple has controlled what apps could

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Speaker 2: be downloaded to the devices then see Steve Jobs said

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Speaker 2: that keeping porn off the iPhone was Apple's moral responsibility

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Speaker 2: and one of the company's major motivations for acting as

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Speaker 2: a gatekeeper. According to Reuter's Now in the EU, Apple's

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Speaker 2: gatekeeper status changed. In twenty twenty two, something called the

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Speaker 2: Digital Markets Act came into play required Apple to allow

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Speaker 2: alternative app stores. One of those stores, called ault Store,

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Speaker 2: has begun distributing a porn app called hot Tub. In

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Speaker 2: a statement, Apple said, it's deeply concerned about the safety

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Speaker 2: risks that hardcore porn apps of this type create for

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Speaker 2: EU users, especially kids. Just shows this two sides to

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Speaker 2: all these stories.

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Speaker 1: Indeed there is all right. There we go the top

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Speaker 1: five business stories in five minutes. Thank you very much, Sean,

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Speaker 1: Thank you, Michael. It is Wednesday, the fifth of February

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Speaker 1: twenty twenty five. Remember hit follow on the podcast and

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Speaker 1: if five minutes isn't enough, you can find our longer

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Speaker 1: daily show called Fear and Greed whereever you listen to podcasts.

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Speaker 1: And today's Wednesday, which means there is a new edition

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Speaker 1: of the Fear and Greed weekly newsletter coming out day.

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Speaker 1: the newsletter in a matter of hours. Shawn, I'm Michael Thompson,

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Speaker 1: and that was the fast five business news by Fear

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Speaker 1: and Greed. Have a great day