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Speaker 1: It's Friday, the eleventh 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: Will we give you the top five business stories you

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Speaker 1: need to know and just five minutes.

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Speaker 2: I'm Michael Thompson and good morning Sean Aylmer. Good morning, Michael,

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Speaker 2: Seawan Five stories, five minutes. Let's go a story number one.

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Speaker 2: It is a biggie uncertainty rains across global markets, with

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Speaker 2: the biggest one day bounce in equity markets in at

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Speaker 2: least five years. Unable to hide what is total chaos

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Speaker 2: in financial markets?

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Speaker 3: Absolutely the stories we know it. In brief, Donald Trump

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Speaker 3: introduced Liberation Day, tariff space in a four milia no

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Speaker 3: one thought made sense. Beajing introduced retaliatory tariffs, bearing Trump

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Speaker 3: to lift thread and Chinese imports to more than one

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Speaker 3: hundred percent. The trade war sent equities tumbling. More importantly,

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Speaker 3: it crashed the US bond market. Lower bond prices send

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Speaker 3: yields much higher. That's the cost of debt. There suddenly

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Speaker 3: became questions around the safe haven status of US bonds,

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Speaker 3: which is seen as rock solid investments basically the bedrock

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Speaker 3: of the global financial system, were being challenged all at

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Speaker 3: the time when the US was trying to raise the money.

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Speaker 3: The fact that Donald Trump that bond market hesitation is

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Speaker 3: probably what caused Donald Trump to backflip. When he did

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Speaker 3: the S and P five hundred and ten percent, tech

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Speaker 3: heavy NASDAK twelve percent, the market was up about four

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Speaker 3: point three trillion US dollars phenomenal. Locally, the AX rows

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Speaker 3: four and a half percent, led by the tech stocks,

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Speaker 3: the big miners, and the energy companies. Where we land,

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Speaker 3: all nations phase ten percent tariffs except for China, that's

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Speaker 3: one hundred and twenty five percent. Trump said that reflects

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Speaker 3: a lack of respect from Beijing. It's just a ninety

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Speaker 3: day pause that gives us time. Well, it gives nations

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Speaker 3: time to negotiate with the US.

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Speaker 1: Okay, So that's where we're at at the moment. There's

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Speaker 1: been an incredible movement shown in financial markets. The response

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Speaker 1: from around the world has been loud.

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Speaker 3: What comes next, Well, that comes down to predicting what

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Speaker 3: Donald Trump's going to do, and that's very, very challenging.

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Speaker 3: Markets hate uncertainty, and what's going on adds to uncertainty.

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Speaker 3: Having said that, investors feel a lot better about the

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Speaker 3: state of play than they did forty eight hours ago.

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Speaker 3: Some relatively riskier assets like the Aussie doll have bounced.

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Speaker 3: It's now just under sixty two US sense Bitcoin was

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Speaker 3: up a bit more. The other part for US homeowners

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Speaker 3: is it actually takes pressure off the Reserve Bank to

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Speaker 3: cut rates too many times.

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Speaker 1: Okay, moving on to story number two. Now in politics,

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Speaker 1: the Coalition yesterday unveiled plans to establish two new regional

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Speaker 1: investment funds, totally twenty billion dollars seeded by windfall gains

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Speaker 1: from commodity prices.

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Speaker 3: The Coalition says it will dedicate eighty percent of positive

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Speaker 3: wind four commodity receipts each year to a Future Generation

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Speaker 3: Fund and Regional Australia Future Fund. It's basically the surprise

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Speaker 3: money it gets out of commodity sales when prices are

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Speaker 3: higher than what it expects. Their Regional Australia Future Fund

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Speaker 3: will be managed within the Future Generation Fund. Its proceeds

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Speaker 3: will be dedicated to regional programs in addition to already

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Speaker 3: budgeted funding going to rural Australia.

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Speaker 1: Story number three. Thousands of Virgin Australia customers are eligible

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Speaker 1: for a refund after being overcharged for itinerary changes. This

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Speaker 1: is dating back though Sean as far as April twenty

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Speaker 1: twenty five years.

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Speaker 3: Sixty one thousand people have been identified as being overcharged

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Speaker 3: due to a coding issue within Virgin Australia's online booking system.

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Speaker 3: The problem is only recently identified when Virgin Australia and

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Speaker 3: tests across all of its booking systems while adding a

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Speaker 3: new product. It's been referred. It has referred itself to

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Speaker 3: the Australian Competition and Consumer Commission. Now, the average refund

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Speaker 3: to be paid fifty five bucks. About fifteen percent of

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Speaker 3: those affected will pocket more than one hundred dollars.

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Speaker 1: Now, if you're one of those people that still uses

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Speaker 1: their birthday as their password, listen up because Australia's National

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Speaker 1: Cybersecurity Coordinator, Lieutenant General Michelle McGinness has urged people to

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Speaker 1: be vigilant about their password, saying Australians need to use

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Speaker 1: password managers and different complex phrases to gain access to

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Speaker 1: every single account.

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Speaker 3: Lieutenant McGinnis says her team is still assisting some of

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Speaker 3: the big super funds involved in last week's industry wide

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Speaker 3: breach of that sector. She said financial agencies are also

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Speaker 3: monitoring that situation. Her advice is to enable multi factor

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Speaker 3: authentification where it's offered. She said people should not click

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Speaker 3: on suspect links or respond to uns listed text messages

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Speaker 3: from unknown members. The point, the reason we're talking about

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Speaker 3: this right now, is that she said that cyber criminals

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Speaker 3: often take advantage of uncertainty and try to capitalize on

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Speaker 3: fear and anxiety around known incidents, the incident being the

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Speaker 3: super breach last week. Be alert for opportunistic scammers. That's

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Speaker 3: her advice.

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Speaker 1: That story number four under story number five last one shown.

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Speaker 1: A Meta whistleblower has told US senators that the company

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Speaker 1: undermined national security in order to build an eighteen billion

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Speaker 1: US dollar business in China.

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Speaker 3: At a congressional hearing, Sarah Williams, a former Global Public

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Speaker 3: Polsy director at Facebook, said she watched as executives decided

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Speaker 3: to provide the Chinese Communist Party with access to the

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Speaker 3: data of Meta yearsers, including that of Americans. Now, Meta

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Speaker 3: has disputed when William's statement saying they're divorced from reality

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Speaker 3: riddled with false claims during her testimony before a Senate

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Speaker 3: Judiciary committee. When Williams also alleged to the parent company

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Speaker 3: of Facebook and Instagram worked hand in glove with Beijing

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Speaker 3: to build censorship tools aimed at silencing critics of the

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Speaker 3: Chinese Communist Party, according to report in the BBC in March,

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Speaker 3: when Williams released a memoir called Careless People about her

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Speaker 3: experience at the company, which was then called Facebook.

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Speaker 1: There we go the top five business stories in five minutes.

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Speaker 3: Thank you Sean, Thank you Michael.

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Speaker 1: It is Friday, the eleventh 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: free daily newsletter. I'm Michael Thompson. And that was the

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Speaker 1: fast five business news by Fear and Greed. Have a

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Speaker 1: great day.