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Speaker 1: It's Thursday, the third 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 Ale.

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Speaker 2: My good morning, Michael Shawn.

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Speaker 1: Five big stories this morning in five minutes, Let's go

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Speaker 1: a story. Number one. Prime Minister Anthony Alberanezi is attempting

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Speaker 1: to play down the impact of US tariffs on Australia,

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Speaker 1: saying the world's largest economy buys less than five percent

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Speaker 1: of our total exports and our focus really needs to

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Speaker 1: be on Asian countries, think Indonesia and India.

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Speaker 2: His comments come ahead of this morning's announcement by the

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Speaker 2: Trump Administration on tariff's which is due sometime after seven

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Speaker 2: am Australian Eastern daylight time. The new tariffs are likely

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Speaker 2: to be widespread scheduled to take effect immediately, though there

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Speaker 2: are plenty of unknowns about what that means in practice

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Speaker 2: for Australia. Medicines and vaccines, gold, beef and agricultural products

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Speaker 2: among the groups most likely to be affected, but Australia

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Speaker 2: are relatively small player in terms of sales of the US.

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Speaker 2: Places like Mexico, Kenada, China, Germany, Japan, South Korea, Taiwan

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Speaker 2: hit much much harder. One thing, beef exporters are getting

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Speaker 2: worried about it. In a report yesterday, A and Z

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Speaker 2: Bank says that the threat of tariffs have hit sentiment

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Speaker 2: in rural communities. If forecasts in a major tariff and

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Speaker 2: beef from the US, for example, would reduce exports, but

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Speaker 2: it will actually also push down the price of local

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Speaker 2: beef by about forty cents of kilo as as guys

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Speaker 2: actually look for markets, any tariff over eight percent would

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Speaker 2: make local exports significantly less competitive. Australia is the largest

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Speaker 2: supplier of beef to the US, about three hundred and

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Speaker 2: ninety five thousand tons last year.

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Speaker 1: How does the tariff war roll out, Shawn? If Australia

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Speaker 1: is not a major target, how will it actually filter

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Speaker 1: through to our economy?

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Speaker 2: Well, worst case, if there's like a twenty twenty five

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Speaker 2: percent tariff on imports and there's retaliate try tariffs, you

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Speaker 2: will have a massive hit to the market measured in

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Speaker 2: the trillions of dollars. You know you'll end up with

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Speaker 2: rising prices falling living standards, lower economic growth. Australia and

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Speaker 2: other countries could benefit in pockets. Trade flows will be

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Speaker 2: diverted away from the US, but we can't really avoid

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Speaker 2: a global slowdown. Where will be hit is when China

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Speaker 2: and Japan and the Middle East stop buying stuff like

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Speaker 2: commodities and education services, intellectual property. Very few good parts

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Speaker 2: to a global trade war, Michael. But there will be

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Speaker 2: pockets of opportunity, all right.

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Speaker 1: And of course all of those details will be announced

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Speaker 1: by Donald Trump this morning just around seven o'clock. Not

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Speaker 1: long after that, we will have a special update in

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Speaker 1: the fast Fire Business News by Fear and Greed playlist,

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Speaker 1: So keep an eye on the feed for that one.

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Speaker 1: On the story number two. Now, Sean, how about this

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Speaker 1: ASSEIC boss Joe Longo is worried about scandals in the

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Speaker 1: bedroom affecting the boardroom.

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Speaker 2: Yeah, it's a great line. In fact, the boss of

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Speaker 2: the corporate watchdog's head. There does appear to be an

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Speaker 2: outbreak of issues in the bedroom migrating to the boardroom.

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Speaker 2: What happens in people's personal lives does the matter for them?

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Speaker 2: What the issue for me and the regulator is that

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Speaker 2: if alleged misbehavior starts to impact good governance at the

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Speaker 2: board level becomes a distraction and if that's the case,

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Speaker 2: that might be something we're interested in. He had been

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Speaker 2: questioned about the Wise Seat global scandal, which has wiped

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Speaker 2: about thirteen billion dollars from the tech company this year.

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Speaker 1: Michael Story at number three. Both sides of politics Sean

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Speaker 1: have backed a real wage rise for about three million

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Speaker 1: low paid workers.

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Speaker 2: The Prime Minister said label will ask the Fair Work

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Speaker 2: Commission to increase the award for the country's lowest paid

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Speaker 2: workers to a minimum hourly rate of twenty four dollars

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Speaker 2: and ten cents. We're talking cleaners, retail workers, security guards.

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Speaker 2: It's the first time in four years that the ALP

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Speaker 2: has asked for a real increase in the minimum wage.

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Speaker 2: When pressed oppositionally to Peter, Dunton said he agrees with

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Speaker 2: a rise in real wages for Australia. Now the Commission

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Speaker 2: determines what it thinks is a fair increase after taking

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Speaker 2: submissions from the government, employees and employers. Already, employers have

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Speaker 2: said that the wage increase shouldn't be above inflation.

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Speaker 1: Story Number four. Star Entertainment has failed to secure a

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Speaker 1: seven hundred and fifty million dollar lifeline from Salter Brothers,

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Speaker 1: putting the operator of casinos and hotels in Sydney, Brisbane

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Speaker 1: and the Gold Coast at risk of collapse for the

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Speaker 1: third time in three months.

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Speaker 2: Starthold investors that Salter Brothers had withdrawn its proposal despite

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Speaker 2: its engagement with state regulators and governments. Star chief executive

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Speaker 2: Steve mccannon advisor UBS has been in talks about a

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Speaker 2: funding package for a few weeks now. It had until

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Speaker 2: April Wonder sign a binding deal. Didn't do it. Casino

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Speaker 2: Group and its bankers have now shifted their focus to

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Speaker 2: American casino Giant Balley Corporation in a final attempt to

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Speaker 2: raise money, and the Financial Reviews reporting that the Star

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Speaker 2: has enough cash to run operations for up to another week,

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Speaker 2: but that's about it. Bally's proposal is based on funding staff,

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Speaker 2: potentially alongside existing shareholders including billionaire Public and Brisk Matheson,

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Speaker 2: and taking control of the group.

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Speaker 1: Story number five. This one is really quite something. Sean

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Speaker 1: right wing media organization, Newsmax listed on the New York

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Speaker 1: Stock Exchange this week, and the share price of the

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Speaker 1: Donald Trump friendly company is up two two hundred percent

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Speaker 1: in just two sessions.

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Speaker 2: The mainly cable TV company loses money, but it's founder,

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Speaker 2: Chris Ruddy Christopher Ruddy, a right wing media mogul and

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Speaker 2: longtime friend of Donald Trump, is now a multi billionaire.

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Speaker 2: Rady founded the conservative TV company in nineteen ninety eight

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Speaker 2: now has a market capitalization of more than twenty billion

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Speaker 2: US dollars. It actually lost money last year as revenue

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Speaker 2: of one hundred and seventy one million dollars compared to

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Speaker 2: News Corp. News Corp's twenty four billion US not that

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Speaker 2: much bigger revenue fourteen billion compared to this group's one

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Speaker 2: seventy one million.

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Speaker 1: Crazy, yeah, staggering story. Sean, There we go the top

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

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Speaker 2: Thank you. Michael.

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Speaker 1: It is Thursday, the third of April twenty twenty five.

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Speaker 1: Remember to hit follow on the podcast, and if five

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Speaker 1: minutes isn't enough, you can find our longer daily show

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Speaker 1: called Fear and Greed wherever you listen to podcasts. I'm

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Speaker 1: Michael Thompson and that was the fast five business news

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