It's Thursday, the third of April twenty twenty five. Welcome to the Fast five Business News by Fear and Greed, where we give you the top five business stories you need to know in just five minutes. I'm Michael Thompson and good morning Sean Ale.

It's Thursday, the third of April twenty twenty five. Welcome to the Fast five Business News by Fear and Greed, where we give you the top five business stories you need to know in just five minutes. I'm Michael Thompson and good morning Sean Ale.

My good morning, Michael Shawn.

My good morning, Michael Shawn.

Five big stories this morning in five minutes, Let's go a story. Number one. Prime Minister Anthony Alberanezi is attempting to play down the impact of US tariffs on Australia, saying the world's largest economy buys less than five percent of our total exports and our focus really needs to be on Asian countries, think Indonesia and India.

Five big stories this morning in five minutes, Let's go a story. Number one. Prime Minister Anthony Alberanezi is attempting to play down the impact of US tariffs on Australia, saying the world's largest economy buys less than five percent of our total exports and our focus really needs to be on Asian countries, think Indonesia and India.

His comments come ahead of this morning's announcement by the Trump Administration on tariff's which is due sometime after seven am Australian Eastern daylight time. The new tariffs are likely to be widespread scheduled to take effect immediately, though there are plenty of unknowns about what that means in practice for Australia. Medicines and vaccines, gold, beef and agricultural products among the groups most likely to be affected, but Australia are relatively small player in terms of sales of the US. Places like Mexico, Kenada, China, Germany, Japan, South Korea, Taiwan hit much much harder. One thing, beef exporters are getting worried about it. In a report yesterday, A and Z Bank says that the threat of tariffs have hit sentiment in rural communities. If forecasts in a major tariff and beef from the US, for example, would reduce exports, but it will actually also push down the price of local beef by about forty cents of kilo as as guys actually look for markets, any tariff over eight percent would make local exports significantly less competitive. Australia is the largest supplier of beef to the US, about three hundred and ninety five thousand tons last year.

His comments come ahead of this morning's announcement by the Trump Administration on tariff's which is due sometime after seven am Australian Eastern daylight time. The new tariffs are likely to be widespread scheduled to take effect immediately, though there are plenty of unknowns about what that means in practice for Australia. Medicines and vaccines, gold, beef and agricultural products among the groups most likely to be affected, but Australia are relatively small player in terms of sales of the US. Places like Mexico, Kenada, China, Germany, Japan, South Korea, Taiwan hit much much harder. One thing, beef exporters are getting worried about it. In a report yesterday, A and Z Bank says that the threat of tariffs have hit sentiment in rural communities. If forecasts in a major tariff and beef from the US, for example, would reduce exports, but it will actually also push down the price of local beef by about forty cents of kilo as as guys actually look for markets, any tariff over eight percent would make local exports significantly less competitive. Australia is the largest supplier of beef to the US, about three hundred and ninety five thousand tons last year.

How does the tariff war roll out, Shawn? If Australia is not a major target, how will it actually filter through to our economy?

How does the tariff war roll out, Shawn? If Australia is not a major target, how will it actually filter through to our economy?

Well, worst case, if there's like a twenty twenty five percent tariff on imports and there's retaliate try tariffs, you will have a massive hit to the market measured in the trillions of dollars. You know you'll end up with rising prices falling living standards, lower economic growth. Australia and other countries could benefit in pockets. Trade flows will be diverted away from the US, but we can't really avoid a global slowdown. Where will be hit is when China and Japan and the Middle East stop buying stuff like commodities and education services, intellectual property. Very few good parts to a global trade war, Michael. But there will be pockets of opportunity, all right.

Well, worst case, if there's like a twenty twenty five percent tariff on imports and there's retaliate try tariffs, you will have a massive hit to the market measured in the trillions of dollars. You know you'll end up with rising prices falling living standards, lower economic growth. Australia and other countries could benefit in pockets. Trade flows will be diverted away from the US, but we can't really avoid a global slowdown. Where will be hit is when China and Japan and the Middle East stop buying stuff like commodities and education services, intellectual property. Very few good parts to a global trade war, Michael. But there will be pockets of opportunity, all right.

And of course all of those details will be announced by Donald Trump this morning just around seven o'clock. Not long after that, we will have a special update in the fast Fire Business News by Fear and Greed playlist, So keep an eye on the feed for that one. On the story number two. Now, Sean, how about this ASSEIC boss Joe Longo is worried about scandals in the bedroom affecting the boardroom.

And of course all of those details will be announced by Donald Trump this morning just around seven o'clock. Not long after that, we will have a special update in the fast Fire Business News by Fear and Greed playlist, So keep an eye on the feed for that one. On the story number two. Now, Sean, how about this ASSEIC boss Joe Longo is worried about scandals in the bedroom affecting the boardroom.

Yeah, it's a great line. In fact, the boss of the corporate watchdog's head. There does appear to be an outbreak of issues in the bedroom migrating to the boardroom. What happens in people's personal lives does the matter for them? What the issue for me and the regulator is that if alleged misbehavior starts to impact good governance at the board level becomes a distraction and if that's the case, that might be something we're interested in. He had been questioned about the Wise Seat global scandal, which has wiped about thirteen billion dollars from the tech company this year.

Yeah, it's a great line. In fact, the boss of the corporate watchdog's head. There does appear to be an outbreak of issues in the bedroom migrating to the boardroom. What happens in people's personal lives does the matter for them? What the issue for me and the regulator is that if alleged misbehavior starts to impact good governance at the board level becomes a distraction and if that's the case, that might be something we're interested in. He had been questioned about the Wise Seat global scandal, which has wiped about thirteen billion dollars from the tech company this year.

Michael Story at number three. Both sides of politics Sean have backed a real wage rise for about three million low paid workers.

Michael Story at number three. Both sides of politics Sean have backed a real wage rise for about three million low paid workers.

The Prime Minister said label will ask the Fair Work Commission to increase the award for the country's lowest paid workers to a minimum hourly rate of twenty four dollars and ten cents. We're talking cleaners, retail workers, security guards. It's the first time in four years that the ALP has asked for a real increase in the minimum wage. When pressed oppositionally to Peter, Dunton said he agrees with a rise in real wages for Australia. Now the Commission determines what it thinks is a fair increase after taking submissions from the government, employees and employers. Already, employers have said that the wage increase shouldn't be above inflation.

The Prime Minister said label will ask the Fair Work Commission to increase the award for the country's lowest paid workers to a minimum hourly rate of twenty four dollars and ten cents. We're talking cleaners, retail workers, security guards. It's the first time in four years that the ALP has asked for a real increase in the minimum wage. When pressed oppositionally to Peter, Dunton said he agrees with a rise in real wages for Australia. Now the Commission determines what it thinks is a fair increase after taking submissions from the government, employees and employers. Already, employers have said that the wage increase shouldn't be above inflation.

Story Number four. Star Entertainment has failed to secure a seven hundred and fifty million dollar lifeline from Salter Brothers, putting the operator of casinos and hotels in Sydney, Brisbane and the Gold Coast at risk of collapse for the third time in three months.

Story Number four. Star Entertainment has failed to secure a seven hundred and fifty million dollar lifeline from Salter Brothers, putting the operator of casinos and hotels in Sydney, Brisbane and the Gold Coast at risk of collapse for the third time in three months.

Starthold investors that Salter Brothers had withdrawn its proposal despite its engagement with state regulators and governments. Star chief executive Steve mccannon advisor UBS has been in talks about a funding package for a few weeks now. It had until April Wonder sign a binding deal. Didn't do it. Casino Group and its bankers have now shifted their focus to American casino Giant Balley Corporation in a final attempt to raise money, and the Financial Reviews reporting that the Star has enough cash to run operations for up to another week, but that's about it. Bally's proposal is based on funding staff, potentially alongside existing shareholders including billionaire Public and Brisk Matheson, and taking control of the group.

Starthold investors that Salter Brothers had withdrawn its proposal despite its engagement with state regulators and governments. Star chief executive Steve mccannon advisor UBS has been in talks about a funding package for a few weeks now. It had until April Wonder sign a binding deal. Didn't do it. Casino Group and its bankers have now shifted their focus to American casino Giant Balley Corporation in a final attempt to raise money, and the Financial Reviews reporting that the Star has enough cash to run operations for up to another week, but that's about it. Bally's proposal is based on funding staff, potentially alongside existing shareholders including billionaire Public and Brisk Matheson, and taking control of the group.

Story number five. This one is really quite something. Sean right wing media organization, Newsmax listed on the New York Stock Exchange this week, and the share price of the Donald Trump friendly company is up two two hundred percent in just two sessions.

Story number five. This one is really quite something. Sean right wing media organization, Newsmax listed on the New York Stock Exchange this week, and the share price of the Donald Trump friendly company is up two two hundred percent in just two sessions.

The mainly cable TV company loses money, but it's founder, Chris Ruddy Christopher Ruddy, a right wing media mogul and longtime friend of Donald Trump, is now a multi billionaire. Rady founded the conservative TV company in nineteen ninety eight now has a market capitalization of more than twenty billion US dollars. It actually lost money last year as revenue of one hundred and seventy one million dollars compared to News Corp. News Corp's twenty four billion US not that much bigger revenue fourteen billion compared to this group's one seventy one million.

The mainly cable TV company loses money, but it's founder, Chris Ruddy Christopher Ruddy, a right wing media mogul and longtime friend of Donald Trump, is now a multi billionaire. Rady founded the conservative TV company in nineteen ninety eight now has a market capitalization of more than twenty billion US dollars. It actually lost money last year as revenue of one hundred and seventy one million dollars compared to News Corp. News Corp's twenty four billion US not that much bigger revenue fourteen billion compared to this group's one seventy one million.

Crazy, yeah, staggering story. Sean, There we go the top five business stories in just five minutes. Thank you very much, Sean.

Crazy, yeah, staggering story. Sean, There we go the top five business stories in just five minutes. Thank you very much, Sean.

Thank you. Michael.

Thank you. Michael.

It is Thursday, the third of April twenty twenty five. Remember to hit follow on the podcast, and if five minutes isn't enough, you can find our longer daily show called Fear and Greed wherever you listen to podcasts. I'm Michael Thompson and that was the fast five business news by Fear and Greed. Have a great day.

It is Thursday, the third of April twenty twenty five. Remember to hit follow on the podcast, and if five minutes isn't enough, you can find our longer daily show called Fear and Greed wherever you listen to podcasts. I'm Michael Thompson and that was the fast five business news by Fear and Greed. Have a great day.