It's Friday, the eleventh of April twenty twenty five. Welcome to the Fast five Business News by Fear and Greed. Will we give you the top five business stories you need to know and just five minutes.

It's Friday, the eleventh of April twenty twenty five. Welcome to the Fast five Business News by Fear and Greed. Will we give you the top five business stories you need to know and just five minutes.

I'm Michael Thompson and good morning Sean Aylmer. Good morning, Michael, Seawan Five stories, five minutes. Let's go a story number one. It is a biggie uncertainty rains across global markets, with the biggest one day bounce in equity markets in at least five years. Unable to hide what is total chaos in financial markets?

I'm Michael Thompson and good morning Sean Aylmer. Good morning, Michael, Seawan Five stories, five minutes. Let's go a story number one. It is a biggie uncertainty rains across global markets, with the biggest one day bounce in equity markets in at least five years. Unable to hide what is total chaos in financial markets?

Absolutely the stories we know it. In brief, Donald Trump introduced Liberation Day, tariff space in a four milia no one thought made sense. Beajing introduced retaliatory tariffs, bearing Trump to lift thread and Chinese imports to more than one hundred percent. The trade war sent equities tumbling. More importantly, it crashed the US bond market. Lower bond prices send yields much higher. That's the cost of debt. There suddenly became questions around the safe haven status of US bonds, which is seen as rock solid investments basically the bedrock of the global financial system, were being challenged all at the time when the US was trying to raise the money. The fact that Donald Trump that bond market hesitation is probably what caused Donald Trump to backflip. When he did the S and P five hundred and ten percent, tech heavy NASDAK twelve percent, the market was up about four point three trillion US dollars phenomenal. Locally, the AX rows four and a half percent, led by the tech stocks, the big miners, and the energy companies. Where we land, all nations phase ten percent tariffs except for China, that's one hundred and twenty five percent. Trump said that reflects a lack of respect from Beijing. It's just a ninety day pause that gives us time. Well, it gives nations time to negotiate with the US.

Absolutely the stories we know it. In brief, Donald Trump introduced Liberation Day, tariff space in a four milia no one thought made sense. Beajing introduced retaliatory tariffs, bearing Trump to lift thread and Chinese imports to more than one hundred percent. The trade war sent equities tumbling. More importantly, it crashed the US bond market. Lower bond prices send yields much higher. That's the cost of debt. There suddenly became questions around the safe haven status of US bonds, which is seen as rock solid investments basically the bedrock of the global financial system, were being challenged all at the time when the US was trying to raise the money. The fact that Donald Trump that bond market hesitation is probably what caused Donald Trump to backflip. When he did the S and P five hundred and ten percent, tech heavy NASDAK twelve percent, the market was up about four point three trillion US dollars phenomenal. Locally, the AX rows four and a half percent, led by the tech stocks, the big miners, and the energy companies. Where we land, all nations phase ten percent tariffs except for China, that's one hundred and twenty five percent. Trump said that reflects a lack of respect from Beijing. It's just a ninety day pause that gives us time. Well, it gives nations time to negotiate with the US.

Okay, So that's where we're at at the moment. There's been an incredible movement shown in financial markets. The response from around the world has been loud.

Okay, So that's where we're at at the moment. There's been an incredible movement shown in financial markets. The response from around the world has been loud.

What comes next, Well, that comes down to predicting what Donald Trump's going to do, and that's very, very challenging. Markets hate uncertainty, and what's going on adds to uncertainty. Having said that, investors feel a lot better about the state of play than they did forty eight hours ago. Some relatively riskier assets like the Aussie doll have bounced. It's now just under sixty two US sense Bitcoin was up a bit more. The other part for US homeowners is it actually takes pressure off the Reserve Bank to cut rates too many times.

What comes next, Well, that comes down to predicting what Donald Trump's going to do, and that's very, very challenging. Markets hate uncertainty, and what's going on adds to uncertainty. Having said that, investors feel a lot better about the state of play than they did forty eight hours ago. Some relatively riskier assets like the Aussie doll have bounced. It's now just under sixty two US sense Bitcoin was up a bit more. The other part for US homeowners is it actually takes pressure off the Reserve Bank to cut rates too many times.

Okay, moving on to story number two. Now in politics, the Coalition yesterday unveiled plans to establish two new regional investment funds, totally twenty billion dollars seeded by windfall gains from commodity prices.

Okay, moving on to story number two. Now in politics, the Coalition yesterday unveiled plans to establish two new regional investment funds, totally twenty billion dollars seeded by windfall gains from commodity prices.

The Coalition says it will dedicate eighty percent of positive wind four commodity receipts each year to a Future Generation Fund and Regional Australia Future Fund. It's basically the surprise money it gets out of commodity sales when prices are higher than what it expects. Their Regional Australia Future Fund will be managed within the Future Generation Fund. Its proceeds will be dedicated to regional programs in addition to already budgeted funding going to rural Australia.

The Coalition says it will dedicate eighty percent of positive wind four commodity receipts each year to a Future Generation Fund and Regional Australia Future Fund. It's basically the surprise money it gets out of commodity sales when prices are higher than what it expects. Their Regional Australia Future Fund will be managed within the Future Generation Fund. Its proceeds will be dedicated to regional programs in addition to already budgeted funding going to rural Australia.

Story number three. Thousands of Virgin Australia customers are eligible for a refund after being overcharged for itinerary changes. This is dating back though Sean as far as April twenty twenty five years.

Story number three. Thousands of Virgin Australia customers are eligible for a refund after being overcharged for itinerary changes. This is dating back though Sean as far as April twenty twenty five years.

Sixty one thousand people have been identified as being overcharged due to a coding issue within Virgin Australia's online booking system. The problem is only recently identified when Virgin Australia and tests across all of its booking systems while adding a new product. It's been referred. It has referred itself to the Australian Competition and Consumer Commission. Now, the average refund to be paid fifty five bucks. About fifteen percent of those affected will pocket more than one hundred dollars.

Sixty one thousand people have been identified as being overcharged due to a coding issue within Virgin Australia's online booking system. The problem is only recently identified when Virgin Australia and tests across all of its booking systems while adding a new product. It's been referred. It has referred itself to the Australian Competition and Consumer Commission. Now, the average refund to be paid fifty five bucks. About fifteen percent of those affected will pocket more than one hundred dollars.

Now, if you're one of those people that still uses their birthday as their password, listen up because Australia's National Cybersecurity Coordinator, Lieutenant General Michelle McGinness has urged people to be vigilant about their password, saying Australians need to use password managers and different complex phrases to gain access to every single account.

Now, if you're one of those people that still uses their birthday as their password, listen up because Australia's National Cybersecurity Coordinator, Lieutenant General Michelle McGinness has urged people to be vigilant about their password, saying Australians need to use password managers and different complex phrases to gain access to every single account.

Lieutenant McGinnis says her team is still assisting some of the big super funds involved in last week's industry wide breach of that sector. She said financial agencies are also monitoring that situation. Her advice is to enable multi factor authentification where it's offered. She said people should not click on suspect links or respond to uns listed text messages from unknown members. The point, the reason we're talking about this right now, is that she said that cyber criminals often take advantage of uncertainty and try to capitalize on fear and anxiety around known incidents, the incident being the super breach last week. Be alert for opportunistic scammers. That's her advice.

Lieutenant McGinnis says her team is still assisting some of the big super funds involved in last week's industry wide breach of that sector. She said financial agencies are also monitoring that situation. Her advice is to enable multi factor authentification where it's offered. She said people should not click on suspect links or respond to uns listed text messages from unknown members. The point, the reason we're talking about this right now, is that she said that cyber criminals often take advantage of uncertainty and try to capitalize on fear and anxiety around known incidents, the incident being the super breach last week. Be alert for opportunistic scammers. That's her advice.

That story number four under story number five last one shown. A Meta whistleblower has told US senators that the company undermined national security in order to build an eighteen billion US dollar business in China.

That story number four under story number five last one shown. A Meta whistleblower has told US senators that the company undermined national security in order to build an eighteen billion US dollar business in China.

At a congressional hearing, Sarah Williams, a former Global Public Polsy director at Facebook, said she watched as executives decided to provide the Chinese Communist Party with access to the data of Meta yearsers, including that of Americans. Now, Meta has disputed when William's statement saying they're divorced from reality riddled with false claims during her testimony before a Senate Judiciary committee. When Williams also alleged to the parent company of Facebook and Instagram worked hand in glove with Beijing to build censorship tools aimed at silencing critics of the Chinese Communist Party, according to report in the BBC in March, when Williams released a memoir called Careless People about her experience at the company, which was then called Facebook.

At a congressional hearing, Sarah Williams, a former Global Public Polsy director at Facebook, said she watched as executives decided to provide the Chinese Communist Party with access to the data of Meta yearsers, including that of Americans. Now, Meta has disputed when William's statement saying they're divorced from reality riddled with false claims during her testimony before a Senate Judiciary committee. When Williams also alleged to the parent company of Facebook and Instagram worked hand in glove with Beijing to build censorship tools aimed at silencing critics of the Chinese Communist Party, according to report in the BBC in March, when Williams released a memoir called Careless People about her experience at the company, which was then called Facebook.

There we go the top five business stories in five minutes.

There we go the top five business stories in five minutes.

Thank you Sean, Thank you Michael.

Thank you Sean, Thank you Michael.

It is Friday, the eleventh of April twenty twenty five. Remember to hit follow on the podcast, and if five minutes just isn't long enough for you, you can find our longer daily show called Fear and Greed whereever you listen to podcasts, and don't forget the head to our website Fearandgreed dot com dot au and sign up for our free daily newsletter. I'm Michael Thompson. And that was the fast five business news by Fear and Greed. Have a great day.

It is Friday, the eleventh of April twenty twenty five. Remember to hit follow on the podcast, and if five minutes just isn't long enough for you, you can find our longer daily show called Fear and Greed whereever you listen to podcasts, and don't forget the head to our website Fearandgreed dot com dot au and sign up for our free daily newsletter. I'm Michael Thompson. And that was the fast five business news by Fear and Greed. Have a great day.