1 00:00:03,840 --> 00:00:06,800 Speaker 1: It's Friday, the third of April twenty twenty six. Welcome 2 00:00:06,840 --> 00:00:09,240 Speaker 1: to the Fast five Business News by Fear and Greed, 3 00:00:09,240 --> 00:00:11,119 Speaker 1: where we give you the top five business stories you 4 00:00:11,160 --> 00:00:13,560 Speaker 1: need to know in just five minutes. I'm Michael Thompson 5 00:00:13,560 --> 00:00:14,920 Speaker 1: and good morning, Sean Aylmer. 6 00:00:15,280 --> 00:00:17,120 Speaker 2: Good morning, Michael, Sean. 7 00:00:17,360 --> 00:00:20,040 Speaker 1: Five stories, five minutes. Let's go Story number one. US 8 00:00:20,079 --> 00:00:23,200 Speaker 1: President Donald Trump has warned that the US will hit 9 00:00:23,320 --> 00:00:26,200 Speaker 1: Iran extremely hard over the next two to three weeks, 10 00:00:26,239 --> 00:00:28,360 Speaker 1: but has not provided a timeline for the end of 11 00:00:28,400 --> 00:00:32,560 Speaker 1: the war. In a nationally televised address, the president said 12 00:00:32,600 --> 00:00:36,040 Speaker 1: the war was nearing completion, then went on to say 13 00:00:36,120 --> 00:00:39,120 Speaker 1: that he was committed to bombing Iran quote back to 14 00:00:39,159 --> 00:00:41,920 Speaker 1: the Stone Ages where they belong. Later, he said the 15 00:00:42,000 --> 00:00:44,360 Speaker 1: US was getting very close to finishing the job. 16 00:00:44,880 --> 00:00:46,760 Speaker 2: Earlier in the day, Trump had threatened to pull out 17 00:00:46,760 --> 00:00:49,120 Speaker 2: of NATO, though he didn't mention that in his address. 18 00:00:49,159 --> 00:00:52,080 Speaker 2: Financial markets were not impressed with his nineteen minute speech, 19 00:00:52,240 --> 00:00:55,400 Speaker 2: and the price of oil jumped, equity markets fell. Trump 20 00:00:55,440 --> 00:00:57,520 Speaker 2: said little about the economic consequence of the war, and 21 00:00:57,600 --> 00:00:59,680 Speaker 2: the average gas price in the US is pushed beyond 22 00:00:59,720 --> 00:01:03,320 Speaker 2: Ford as a gallon, which is a benchmark there. Back home, 23 00:01:03,400 --> 00:01:06,480 Speaker 2: Prime Minister Anthony Albernizi delivered a rebuke of the ongoing 24 00:01:06,480 --> 00:01:09,440 Speaker 2: war and of Donald Trump really questioning what the President 25 00:01:09,440 --> 00:01:11,800 Speaker 2: hoped to achieve, he said it wasn't clear what the 26 00:01:11,880 --> 00:01:14,280 Speaker 2: endpoint was. Speaking at the National Press Club, he said 27 00:01:14,280 --> 00:01:16,120 Speaker 2: the longer the war went on, the more significant the 28 00:01:16,120 --> 00:01:18,600 Speaker 2: impact for the global economy. However, he did maintain that 29 00:01:18,640 --> 00:01:22,160 Speaker 2: the Australia US Alliance remained strong and restated his support 30 00:01:22,200 --> 00:01:24,560 Speaker 2: for the orchestraal a little bit of good news so 31 00:01:24,680 --> 00:01:27,480 Speaker 2: for motor as Sean drivers around Australia will pay five 32 00:01:27,520 --> 00:01:31,040 Speaker 2: point seven cents elita less for petrol after Queensland joined 33 00:01:31,120 --> 00:01:33,920 Speaker 2: Victoria in ending its opposition to a deal to hand 34 00:01:34,080 --> 00:01:37,759 Speaker 2: back a GST windfall caused by the spike in fuel prices. 35 00:01:38,240 --> 00:01:40,399 Speaker 2: That means with the Federal government twenty six point three 36 00:01:40,840 --> 00:01:44,120 Speaker 2: sense alita thirty two cents a leader comes off the 37 00:01:44,120 --> 00:01:46,080 Speaker 2: price of petrol. We're already starting to see that at 38 00:01:46,080 --> 00:01:47,920 Speaker 2: the Bowser good all right. 39 00:01:47,960 --> 00:01:51,640 Speaker 1: Story number two. Prime Minister Anthony Albernezi yesterday outlined gambling 40 00:01:51,680 --> 00:01:55,880 Speaker 1: advertising reforms, including celebrities and sports players being banned from 41 00:01:55,920 --> 00:02:01,520 Speaker 1: appearing in gambling ads and odds style emotions and limits 42 00:02:01,520 --> 00:02:04,000 Speaker 1: on the number of ads on radio and TV. TV 43 00:02:04,080 --> 00:02:07,240 Speaker 1: stations would be limited to broadcasting three gambling ads an 44 00:02:07,280 --> 00:02:10,880 Speaker 1: hour between six am and eight thirty pm, while advertising 45 00:02:10,919 --> 00:02:13,799 Speaker 1: on radio would be banned during the school drop off 46 00:02:13,840 --> 00:02:14,720 Speaker 1: and pickup times. 47 00:02:15,160 --> 00:02:18,000 Speaker 2: Advertising on social media will be limited to accounts where 48 00:02:18,040 --> 00:02:20,880 Speaker 2: the user is verified as being aged over eighteen, and 49 00:02:21,000 --> 00:02:23,600 Speaker 2: all users will have the option to opt out of 50 00:02:23,720 --> 00:02:27,080 Speaker 2: seeing gambling ads, as well as celebrities and sports players 51 00:02:27,120 --> 00:02:30,440 Speaker 2: being banned from appearing in gambling ads, Promotions will be 52 00:02:30,520 --> 00:02:34,600 Speaker 2: stopped in sports venues and on playing jerseys. The late 53 00:02:34,680 --> 00:02:38,519 Speaker 2: Labor MP Peter Murphy, lead of Parliamentary inquiring to gambling advertising. 54 00:02:38,720 --> 00:02:42,280 Speaker 2: The new rules implement some of her thirty three recommendations, 55 00:02:42,320 --> 00:02:46,280 Speaker 2: it stops short of a complete advertising ban it had 56 00:02:46,320 --> 00:02:49,080 Speaker 2: been as had been recommended by MS. 57 00:02:48,960 --> 00:02:53,320 Speaker 1: Murphy story number three. The federal government will provide more 58 00:02:53,320 --> 00:02:57,240 Speaker 1: support for critical industries, including oil refining, with Prime Minister 59 00:02:57,280 --> 00:03:00,520 Speaker 1: Anthony Alberezi saying the free market approach of pastad has 60 00:03:00,600 --> 00:03:04,760 Speaker 1: left Australia vulnerable to shocks such as the current oil crisis. 61 00:03:04,919 --> 00:03:07,160 Speaker 1: The changes are likely to be part of the May 62 00:03:07,240 --> 00:03:11,200 Speaker 1: twelve federal budget, which Albertezi says will be reformists. 63 00:03:11,680 --> 00:03:13,760 Speaker 2: Let's hope. So the government will bring forward about six 64 00:03:13,840 --> 00:03:17,120 Speaker 2: point two billion dollars in concessional capital. There's a billion 65 00:03:17,160 --> 00:03:20,280 Speaker 2: dollars for the Economic Resilience Program, five billion dollars for 66 00:03:20,320 --> 00:03:23,800 Speaker 2: the Net Zero Fund. That's about manufacturing, investment, energy efficiency, 67 00:03:23,800 --> 00:03:26,600 Speaker 2: that type of stuff. Speaking at the National Press Club, 68 00:03:26,600 --> 00:03:29,600 Speaker 2: the Prime Minister said there will be new short term 69 00:03:29,720 --> 00:03:33,440 Speaker 2: spending to address cost the cost of living crisis, which 70 00:03:33,480 --> 00:03:36,080 Speaker 2: of course has been exacerbated by the Middle East War. 71 00:03:36,400 --> 00:03:38,600 Speaker 2: He also had a crack at one nation, saying he 72 00:03:38,640 --> 00:03:41,800 Speaker 2: does not want Australia to return to the heavily protected 73 00:03:41,840 --> 00:03:44,200 Speaker 2: industries and economy of the past century. 74 00:03:44,480 --> 00:03:47,440 Speaker 1: Storing number four. SpaceX, which is of course Elon Musks 75 00:03:47,560 --> 00:03:52,240 Speaker 1: rocket and satellite maker, has filed confidentially an initial public offering, 76 00:03:52,600 --> 00:03:54,360 Speaker 1: setting the stage for what could be one of the 77 00:03:54,480 --> 00:03:59,040 Speaker 1: largest offerings ever. The company is committed to debuting in June, 78 00:03:59,360 --> 00:04:03,280 Speaker 1: and musc is aiming to raise between fifty and seventy 79 00:04:03,400 --> 00:04:07,760 Speaker 1: five billion US dollars. That's what seventy to one hundred 80 00:04:07,800 --> 00:04:10,480 Speaker 1: and ten billion Aussie there abouts. According to The New 81 00:04:10,520 --> 00:04:11,360 Speaker 1: York Times. 82 00:04:11,560 --> 00:04:14,680 Speaker 2: SpaceX values itself at more than a trillion US dollars, 83 00:04:14,720 --> 00:04:16,400 Speaker 2: It would be one of the most valuable companies to 84 00:04:16,440 --> 00:04:18,520 Speaker 2: reach the share market. The all time record is Saudi 85 00:04:18,520 --> 00:04:22,800 Speaker 2: Aramco's twenty nineteen debut that was one point seven trillion US. 86 00:04:22,880 --> 00:04:26,200 Speaker 2: Probably won't quite get to their SpaceX offering would be 87 00:04:26,320 --> 00:04:29,560 Speaker 2: certainly generational money making for Wall Street, for a bunch 88 00:04:29,560 --> 00:04:32,320 Speaker 2: of employees, and of course for Musk. He's already one 89 00:04:32,360 --> 00:04:35,960 Speaker 2: of the world's richest men. If this gets off, he's 90 00:04:36,000 --> 00:04:39,640 Speaker 2: going to get close to becoming a trillionaire. Pretty phenomenal. 91 00:04:39,839 --> 00:04:43,160 Speaker 2: SpaceX X, which Musk founded in two thousand and two 92 00:04:43,160 --> 00:04:45,880 Speaker 2: with a goal of sending people to Mars, has grown 93 00:04:45,920 --> 00:04:48,520 Speaker 2: into one of the world's leading space companies from its beginning. 94 00:04:49,000 --> 00:04:52,480 Speaker 2: Musk has said SpaceX's ultimate mission is to make humans 95 00:04:52,520 --> 00:04:56,719 Speaker 2: a multiplanetary species, ensuring that life would thrive if something 96 00:04:56,760 --> 00:04:57,719 Speaker 2: happened here on Earth. 97 00:04:58,480 --> 00:05:01,880 Speaker 1: Last one story, number five. Giant Apple turned fifty years 98 00:05:01,920 --> 00:05:04,720 Speaker 1: old this week. Starting in a garage and progressing through 99 00:05:04,760 --> 00:05:10,840 Speaker 1: personal computers and iPhones, iPods AirPods, now the world's second 100 00:05:11,120 --> 00:05:15,360 Speaker 1: most valuable company, worth three point seven trillion US dollars. 101 00:05:16,160 --> 00:05:19,240 Speaker 1: Some of these stats are incredible. Sean Apple has now 102 00:05:19,360 --> 00:05:22,280 Speaker 1: got one hundred and sixty six thousand full time employees 103 00:05:22,480 --> 00:05:25,760 Speaker 1: around the world. There are two and a half billion 104 00:05:26,160 --> 00:05:27,760 Speaker 1: active devices. Incredible. 105 00:05:28,560 --> 00:05:32,520 Speaker 2: Yeah. Famous for its design capability as well Michael's and 106 00:05:32,520 --> 00:05:35,200 Speaker 2: then as much as it is for its technology. It 107 00:05:35,320 --> 00:05:37,320 Speaker 2: sort of blurred the line between work and play. I 108 00:05:37,400 --> 00:05:39,760 Speaker 2: suppose it was co founded by Steve Jobs, the marketing wizard. 109 00:05:39,760 --> 00:05:41,920 Speaker 2: Steve was in the act, the engineering wizard, and a guy 110 00:05:41,920 --> 00:05:45,240 Speaker 2: called Ron Wayne, back office guy. He cashed out He's 111 00:05:45,240 --> 00:05:47,640 Speaker 2: ten percent for eight hundred bucks after a couple of weeks. 112 00:05:48,279 --> 00:05:50,880 Speaker 2: Ouch was in the act, built the first personal computer 113 00:05:50,920 --> 00:05:54,640 Speaker 2: while working for Hewlett Packard. HP wasn't interested in it, 114 00:05:54,680 --> 00:05:56,599 Speaker 2: so he went out on his own with Steve. 115 00:05:56,680 --> 00:05:57,040 Speaker 1: Jobs. 116 00:05:57,200 --> 00:05:59,000 Speaker 2: Had its ups and downs the nineteen nineties. It was 117 00:05:59,080 --> 00:06:02,599 Speaker 2: days away from bankrupt before Steve Jobs returned after about 118 00:06:02,600 --> 00:06:06,119 Speaker 2: a decade and revived it. In fact, it survived and thrived. Jobs, 119 00:06:06,160 --> 00:06:09,560 Speaker 2: of course, tragically died of pancreatic cancer back in twenty eleven. 120 00:06:10,160 --> 00:06:12,320 Speaker 1: All right, there we go, the top five business stories 121 00:06:12,360 --> 00:06:15,080 Speaker 1: in five minutes. Thank you very much, Sean, Thank you, Michael. 122 00:06:15,440 --> 00:06:18,560 Speaker 1: It's Friday, the third of April twenty twenty six. Good Friday. 123 00:06:18,680 --> 00:06:20,880 Speaker 1: Remember to hit follow on the podcast, and if five 124 00:06:20,920 --> 00:06:23,280 Speaker 1: minutes isn't enough, you can find our longer daily show 125 00:06:23,320 --> 00:06:25,920 Speaker 1: called Fear and Greed wherever you listen to podcasts. I'm 126 00:06:25,960 --> 00:06:28,360 Speaker 1: Michael Thompson and that was the past five business news 127 00:06:28,360 --> 00:06:33,000 Speaker 1: by Fear and Greed. Have a great day.