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Speaker 1: It's Monday, the fourteenth of April 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 Ailmer.

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Speaker 2: Good morning Michael, Sean.

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Speaker 1: Before we get into the top five stories, a quick

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Speaker 1: reminder of our new daily newsletter comes out every weekday

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Speaker 1: by six am. Head along to Fearangreed dot com dot

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Speaker 1: au and pop your email addressing. It is entirely free

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Speaker 1: and as I said, every weekday morning by six o'clock.

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Speaker 1: On with the story Sean five stories, five minutes. Let's

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Speaker 1: go story number one. The federal Labor and Liberal parties

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Speaker 1: held their election campaign launches yesterday with big promises to

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Speaker 1: make purchasing a first home easier for buyers and some

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Speaker 1: surprising pledges to cut taxes from both sides.

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Speaker 2: At the label launch in Perth, Anthony Albanezi set of

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Speaker 2: re elected government will create a new standard tax deduction

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Speaker 2: of one thousand dollars a year on work related expenses

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Speaker 2: and in the pledge to reduce the bottom tax bracket

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Speaker 2: from sixteen to fourteen percent from the middle of twenty

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Speaker 2: twenty seven, and the Prime Minister claims labor would make

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Speaker 2: the average full time income earner more than three thousand

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Speaker 2: dollars better off. The government's also prompting that if re elected,

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Speaker 2: it will allow first home buyers to get into the

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Speaker 2: market with a five percent deposit and no lender's mortgage insurance.

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Speaker 2: At the moment, you need twenty percent on that one.

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Speaker 2: At the coalition's campaign launch in Western Sydney, Opposition leader

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Speaker 2: Peter Dutton pledge that under a Coalition government, about ten

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Speaker 2: million workers would receive a one off income tax cut

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Speaker 2: of up to twelve hundred dollars at the end of

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Speaker 2: the next financial year kicks in for everyone earning up

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Speaker 2: to one hundred and forty four thousand dollars. On housing,

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Speaker 2: Peter Dutton pledge to allow all first home buyers to

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Speaker 2: deduct mortgage interest payments on newly built homes.

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Speaker 1: So tax and housing have taken center stage in the

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Speaker 1: election campaign, then Sewan and we can all decide what

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Speaker 1: we get or don't get from the promises. Who's in

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Speaker 1: front at the moment.

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Speaker 2: Well, according to the polls, the Coalition is losing ground

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Speaker 2: on labor. The latest you go poll released to AAP

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Speaker 2: reveals Labour's gained ground to be ahead fifty two and

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Speaker 2: a half to forty seven and a half half percent

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Speaker 2: on a two party third basis. That compares to fifty

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Speaker 2: two point one percent in the last election, so it's

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Speaker 2: actually doing better than it did last election, according to

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Speaker 2: the polls Okay.

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Speaker 1: Moving on to story number two now sean And the

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Speaker 1: preliminary auction clearance rate fell to its lowest level this

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Speaker 1: year on the biggest week of auctions, but almost mirroring

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Speaker 1: what is happening in equity and bond markets.

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Speaker 2: The preliminary clearance rate across the capital City's dive to

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Speaker 2: just under sixty five percent now a week it was

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Speaker 2: seventy one percent according to core Logic. That is quite

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Speaker 2: a drop. There were more than thirty one hundred scheduled auctions.

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Speaker 2: It was the biggest week of the year, typical for

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Speaker 2: this time ahead of Easter. In short, uncertainty doesn't only

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Speaker 2: hurt equities and bonds, it hurts the housing market as well.

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Speaker 2: Melbourne topped the league later in terms of clearance rate

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Speaker 2: sixty seven percent, Sydney was under sixty six percent, Adelaide, Brisbane,

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Speaker 2: Canberra all lower.

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Speaker 1: Story Number three requires you to get your crystal ball out, Sean,

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Speaker 1: What can we expect from the shir market this morning?

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Speaker 1: Last week was a doozy. Can we expect more of

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Speaker 1: the same or perhaps things will settle a bit?

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Speaker 2: Very good question.

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Speaker 1: Now.

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Speaker 2: Over the weekend, Donald Trump walked back punitive tariffs on

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Speaker 2: smartphones and computer chips, meaning Chinese suppliers might be hit

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Speaker 2: with one hundred and forty five percent imposts. Apple and

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Speaker 2: other manufacturers had forecasts at prices would surge if the

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Speaker 2: costs of inputs were hit by the tariffs. Apples share

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Speaker 2: prices fall and as a result, but the White House

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Speaker 2: actually said will walk those back. It indicated the exemptions

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Speaker 2: were made to ensure companies had more time to move

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Speaker 2: production to the US. That's unlikely. It takes years and

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Speaker 2: billions of dollars to do that. It's more likely that

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Speaker 2: the US president wasn't prepared for the backlash from much

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Speaker 2: more expensive electronics. Trump is backing down on tariffs, no

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Speaker 2: doubt about it. We had that we introduced a ninety

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Speaker 2: day pause on tariff in the middle of last week,

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Speaker 2: which markets liked. In fact, Wall Street and had higher

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Speaker 2: last week. Local market was flat for the week. Your

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Speaker 2: question where are we going this week? Will futures training

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Speaker 2: suggests we're at least going to start high. Okay.

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Speaker 1: Story number four sean turning overseas now. Prata is buying

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Speaker 1: Versaci from fashion conglomerate Capri Holdings for one point four

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Speaker 1: billion US dollars, salvaging a deal that was at risk

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Speaker 1: of collapsing because of the market upevile.

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Speaker 2: So the All Street journals reporting that the deal's completion

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Speaker 2: is still uncertain because Prada's namesake family haven't given its

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Speaker 2: final approval. Vasaci was founded more than forty years ago,

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Speaker 2: an Italian fashion house well known. Last month, Capri appointed

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Speaker 2: Daria Vatali to succeed Donna Tella Versaci as chief creative

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Speaker 2: officer of the Versacei brand, meaning that the chief creative

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Speaker 2: officer no longer a Basaci. Capri's brands, which included Michael

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Speaker 2: Cors and Jimmy Chu. It struck a two point one

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Speaker 2: billion dollar deal for the Versacei business in twenty eighteen. However,

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Speaker 2: it's really struggled. Post COVID luxury brands generally have struggled.

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Speaker 2: Trump's tariffs that have exacerbated that challenge by forcing the

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Speaker 2: industry to deal with the prospect of higher cost to

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Speaker 2: source royal materials from a Hence Prada wants to buy Versaci.

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Speaker 1: Last one story number five. One of the biggest football

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Speaker 1: stars in the world is launching legal action against his

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Speaker 1: old club seeking fifty five million euro or about what's

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Speaker 1: that one hundred and ten million AUSSI yes.

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Speaker 2: Killian m Barbee has instructed lawyers to sue his former

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Speaker 2: club Paras Saint Germain to recover the massive sum from

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Speaker 2: the French footballer claims he's owed in unpaid wages and bonuses.

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Speaker 2: The dispute stems from Embarbe's acrimonious twenty twenty four moved

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Speaker 2: to Spanish Jians Reel Madrid. That's the year after he

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Speaker 2: was temporarily sidelined by PSG. Embarbe claims PSG dropped him

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Speaker 2: from the team after he refused to extend his contract

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Speaker 2: at the club. Now, a lawyer Frommbarbe said, I remind

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Speaker 2: you that Killian m Barbe is the captain of the

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Speaker 2: French national team. He's the highest score rate in the

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Speaker 2: history of the club and that he has owed a

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Speaker 2: bit of recognition. That is to say that he's paid

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Speaker 2: his salary.

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Speaker 1: All right, there we go the top five business stories

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Speaker 1: in five minutes. Thank you very much.

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Speaker 2: On Thank you, Michael.

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Speaker 1: It is Monday, the fourteenth of April twenty twenty five,

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Speaker 1: remembered hit follow on the podcast Andy five minutes isn't enough.

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Speaker 1: our free daily newsletter. I'll put a link in the

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Speaker 1: show notes as well, so it's very easy to sign

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Speaker 1: up on Michael Thompson. And that was the fast five

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Speaker 1: business news by Fear and Greed. Have a great day.