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Speaker 1: It's Wednesday, the second 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 when just five minutes. I'm Michael Thompson

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Speaker 1: and good morning Sean Ale. Good morning, Michael, Sean five stories,

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Speaker 1: five minutes. Let's go Story number one. There will be

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Speaker 1: no pre election rate cut, with the Reserve Bank yesterday

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Speaker 1: keeping the official cash rate on hold, but it says

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Speaker 1: it's ready to cut rates if the Trump tariffs trigger

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Speaker 1: a recessioned. Similarly, it is ready to hike rates if

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Speaker 1: inflation starts to rise again in.

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Speaker 2: Leaving rates on hold. After the Reserve Bank Board met yesterday,

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Speaker 2: the Central Bank singled out recent US tariff announcements, saying

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Speaker 2: they're having an effect on confidence globally likely to be

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Speaker 2: amplified if the scape of tariff's widens now it comes

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Speaker 2: ahead of Donald Trump announcing reciprocal tariffs in the next

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Speaker 2: twenty four hours. Let's say the Reserve banks of the

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Speaker 2: tariffs could send inflation higher or lower. Governor Michelle Bullock

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Speaker 2: said she expects some permanency in the current round of

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Speaker 2: those tariffs. It's the first meeting of the newly formed

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Speaker 2: Reserve Bank Monetary Policy Board included two new members. The

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Speaker 2: Bullock said the announcement of no change to rates was

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Speaker 2: a consensus decision. That's not unanimous, Michael, just consensus. The

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Speaker 2: governor said the board was gradually getting more confident about interests,

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Speaker 2: about inflation. In fact, she said current rate settings are

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Speaker 2: mildly restricted, but she's still a bit worried about the

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Speaker 2: labor market.

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Speaker 1: The comments about inflation are positive. Seemed to think that

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Speaker 1: the Reserve Bank is getting control over inflation. What about economic.

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Speaker 2: Growth, Well, i'll quote Michelle Bullock, we in fact forecast

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Speaker 2: that growth will pick up a bit as people are

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Speaker 2: starting to spend a bit more. We expect that to continue.

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Speaker 2: We're not forecasting recession in Australia over the next twelve months,

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Speaker 2: of course, and she added that as plenty of its

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Speaker 2: uncertainty around the place, as Reserve bankers do. Asked about

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Speaker 2: the looming election, she said it didn't play a role

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Speaker 2: in interstrate deliberations.

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Speaker 1: Okay, moving on to story number two now. On the

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Speaker 1: eve of President Donald Trump outlining reciprocal tariffs against trading partners,

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Speaker 1: Prime Minister Anthony Abernezi has hit out at US complaints

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Speaker 1: involving the local pharmaceutical benefits, scaled, the news bargaining code,

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Speaker 1: and biosecurity.

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Speaker 2: Donald Trump has formally accepted long standing grievances over Australia's

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Speaker 2: subsidized medicine scheme, agricultural biosecurity rules, and regulators forcing tech

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Speaker 2: giants to pay local news organizations for content. The US's

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Speaker 2: annual Foreign Trade Barriers Report lists what American officials regard

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Speaker 2: as de facto protectionist measures discriminating against US exports. It

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Speaker 2: comes ahead of the US imposing sweeping tariffs globally. We

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Speaker 2: will hear about those in the next twenty four hours

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Speaker 2: or so. That annual report could be the basis of

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Speaker 2: what's considered a tariff now anything. The alb An Easy

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Speaker 2: campaigning at Adelaide said, and I quit. I very clearly

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Speaker 2: indicated Australia is not negotiating of the pharmaceutical benefit scheme,

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Speaker 2: we are not negotiating of the news bargaining code. We

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Speaker 2: will not undermine our biosecurity, okay.

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Speaker 1: Story number three. Woolworths Sean has been cutting prices hard

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Speaker 1: to reduce the gap between its groceries and those at discounter.

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Speaker 2: Ali the gap and then last month fell to their

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Speaker 2: lowest level in two years. According to a report from

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Speaker 2: JP Morgan, Coles's price premium over Aldi also dropped. Now

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Speaker 2: JP Morgan checked one hundred home brand products across the

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Speaker 2: big supermarket groups found items at Woollies and Coals with

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Speaker 2: seven eight point five percent more expensive than Aldi, respectively.

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Speaker 2: That's actually better than it was. JP Morgan says both

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Speaker 2: major supermarkets for attempting to reposition their value perception ahead

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Speaker 2: of the Competition Watchdog's final report into the industry and

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Speaker 2: of course, ahead of the election where cost of living

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Speaker 2: is a major issue. Meanwhile, Consumer Advacy Group Choices December

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Speaker 2: quarterly grocery Basket survey said Aldi's definitely the cheapest choice.

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Speaker 2: Has been provided with government funds to research supermarket prices

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Speaker 2: at Aldi, Woollies, Coals and IgA.

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Speaker 1: Storry number four. Let's talk streaming Sean Warner Brothers Discovery

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Speaker 1: Max launched this week in Australia. It'll cost eleven ninety

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Speaker 1: nine a month if you don't want ads. If you

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Speaker 1: want premium, it'll be seventeen ninety nine. It's big selling point,

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Speaker 1: right is HBO. A lot of programs from the Sopranos

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Speaker 1: to succession, but it is entering a very crowded market

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Speaker 1: very much.

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Speaker 2: Netflix still the king six point two million subscribers, about

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Speaker 2: eighteen ninety nine AD free really to go to streaming

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Speaker 2: service Number two in Australia, Amazon Prime Video four point

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Speaker 2: eight million subscribers. Helps because you get free delivery with

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Speaker 2: your Amazon products when you have Amazon Prime Video about

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Speaker 2: twelve nine to nine a month with if you don't

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Speaker 2: want ads, Disney plus three point one million twenty one

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Speaker 2: bucks add free stand two point six million. Now it

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Speaker 2: was number two now number four. Big questions around what

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Speaker 2: nine its owner will do, particularly if itselves it's do

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Speaker 2: main asset Primount plus one point eight million, Binge one

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Speaker 2: point six million. Apple TV don't know its subscriber numbers.

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Speaker 2: It's about twelve nine to nine a month, though it

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Speaker 2: is a much narrower amount of content because Apple actually

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Speaker 2: doesn't do third party content.

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Speaker 1: Last one story Number five Tinder Sean has unveiled an

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Speaker 1: in app game that invites users to flirt with artificially

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Speaker 1: intelligent chatbots as part of a larger effort to return

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Speaker 1: the dating app to growth by boosting user engagement.

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Speaker 2: It's part proof of concept part marketing stunt, according to

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Speaker 2: Bloomberg and Tinders, using open ais Chat GPT to generate short,

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Speaker 2: highly exaggerated rom com scenarios. Michael, think a stranger reaching

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Speaker 2: for the same shopping basket at a grocery store, or

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Speaker 2: someone whose luggage got switched up with yours at the

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Speaker 2: airport baggage carousel. In talking to the bot which initiates

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Speaker 2: the scene, users can accumulate points for warmth and curiosity,

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Speaker 2: receive real time feedback on their responses, and ultimately win.

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Speaker 2: The game plays a limited to five per day, about

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Speaker 2: three per minutes. Apparently it helps you get better at Tinder.

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Speaker 1: That's it, the top five business stories in five minutes.

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Speaker 1: Thank you very much, Thank you, Michael. It is Wednesday,

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Speaker 1: the second of April twenty twenty five. Remember to hit

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Speaker 1: follow on the podcast, and if five minutes isn't enough,

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Speaker 1: you can find our longer daily show called Fear and

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Speaker 1: Greed whereever you listen to podcasts. I'm Michael Thompson and

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

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Speaker 1: Have a great day.