It's Wednesday, the twelfth of March 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 in US five minutes. I'm Michael Thompson and good morning Sean Aylmer.

It's Wednesday, the twelfth of March 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 in US five minutes. I'm Michael Thompson and good morning Sean Aylmer.

Good morning, Michael Shawn.

Good morning, Michael Shawn.

Five stories in five minutes. Let's get going with story Number one is a big one. Global share markets are falling as fears of a recession in the US and nervousness around global trade wars overwhelm investors' confidence, and TEX stocks Sean are among the hardest hit.

Five stories in five minutes. Let's get going with story Number one is a big one. Global share markets are falling as fears of a recession in the US and nervousness around global trade wars overwhelm investors' confidence, and TEX stocks Sean are among the hardest hit.

There was, at least at the beginning of the session yesterday, a proverbial sea of red across the ASEX. All eleven sub indices were lower. The market hit a seven month low to finish down nearly one percent under seventy nine hundred points. It could have been much worse, for the index almost as low as seventy eight hundred points around lunchtime. As it was, about nineteen billion dollars was wiped off the value of the BOSS. Three quarters of the stocks on the ASEX two hundred ended lower. US companies got hit cs Hel mcquarie Bank brambled, but it was really the tech stocks that got hammered. Pro me tickets, clothes down more than ten percent, zero, computer share Technology one all ended sharply lower.

There was, at least at the beginning of the session yesterday, a proverbial sea of red across the ASEX. All eleven sub indices were lower. The market hit a seven month low to finish down nearly one percent under seventy nine hundred points. It could have been much worse, for the index almost as low as seventy eight hundred points around lunchtime. As it was, about nineteen billion dollars was wiped off the value of the BOSS. Three quarters of the stocks on the ASEX two hundred ended lower. US companies got hit cs Hel mcquarie Bank brambled, but it was really the tech stocks that got hammered. Pro me tickets, clothes down more than ten percent, zero, computer share Technology one all ended sharply lower.

Michael and the seller followed a wipeout on Wall Street, where trillions of dollars of value was lost.

Michael and the seller followed a wipeout on Wall Street, where trillions of dollars of value was lost.

On Monday night, the tech heavy NASDAC ended down five percent. That's about one point one trillion US dollars in value, highlighted by a fifteen percent drop in Tesla. The main reason for Wall Streets sell off and the ax's sell off were comments from Donald Trump that the US may feel a little disturbance stemming from trade wars with Canada, Mexico, and China that triggered fears of a recession in the world's biggest economy. Bitcoin was sold off, Oil was lower. Recession talk isn't good for our local currency, are they? It's back below sixty three US cents on.

On Monday night, the tech heavy NASDAC ended down five percent. That's about one point one trillion US dollars in value, highlighted by a fifteen percent drop in Tesla. The main reason for Wall Streets sell off and the ax's sell off were comments from Donald Trump that the US may feel a little disturbance stemming from trade wars with Canada, Mexico, and China that triggered fears of a recession in the world's biggest economy. Bitcoin was sold off, Oil was lower. Recession talk isn't good for our local currency, are they? It's back below sixty three US cents on.

Destory number two. A bit of good news. Consumer sentiment has hit a three year high on the back of the recent interest rate cut. But these unsettled global markets are weighing on confidence in the economy.

Destory number two. A bit of good news. Consumer sentiment has hit a three year high on the back of the recent interest rate cut. But these unsettled global markets are weighing on confidence in the economy.

That's right, Westpac Melbourne Institute's Consumer Sentiment Index posted a four percent rise in March, lifting to ninety five point nine. Now that's not far off one hundred, which indicates the same numbers of optimists as pessimis. The level is now back to pre May twenty twenty two. That's when the Reserve Bank started lifting interest rates. All in all, people are just starting to feel a bit better, Westpac said. Slowly inflation in the Reserve Bank of Australia's first rate cut in four years last month meant cost of living pressures were easing, providing a clear lift. Now, if consumers are happier, Michael, they spend more money. Good for the economy.

That's right, Westpac Melbourne Institute's Consumer Sentiment Index posted a four percent rise in March, lifting to ninety five point nine. Now that's not far off one hundred, which indicates the same numbers of optimists as pessimis. The level is now back to pre May twenty twenty two. That's when the Reserve Bank started lifting interest rates. All in all, people are just starting to feel a bit better, Westpac said. Slowly inflation in the Reserve Bank of Australia's first rate cut in four years last month meant cost of living pressures were easing, providing a clear lift. Now, if consumers are happier, Michael, they spend more money. Good for the economy.

That does make sense. Star At number three, the value of scam losses in Australia fell by twenty six percent to two billion dollars last year. It's still way too high, but at least things are getting better, right, Yeah, that's exactly right. This report combines information from a bunch of watchdogs. It shows that the value of losses decreased, so too did the.

That does make sense. Star At number three, the value of scam losses in Australia fell by twenty six percent to two billion dollars last year. It's still way too high, but at least things are getting better, right, Yeah, that's exactly right. This report combines information from a bunch of watchdogs. It shows that the value of losses decreased, so too did the.

Number of reported scams. They dropped on percent to under five hundred thousand. Still a lot of scams. The top five scam types in the combined data were investment scams, romance payment redirection, remote access and fishing scam, which jointly accounted for more than seventy percent of the total combined at losses. Investment scams resulted in the highest overall combined losses, not that far off of biddion dollars reported loss last year that was actually lower than twenty twenty three. Last year, the National Anti Scam Center referred more than eight thousand URLs for takedown.

Number of reported scams. They dropped on percent to under five hundred thousand. Still a lot of scams. The top five scam types in the combined data were investment scams, romance payment redirection, remote access and fishing scam, which jointly accounted for more than seventy percent of the total combined at losses. Investment scams resulted in the highest overall combined losses, not that far off of biddion dollars reported loss last year that was actually lower than twenty twenty three. Last year, the National Anti Scam Center referred more than eight thousand URLs for takedown.

How about this one sean story number four. Disney is considering spending more money on domestic sports rights as it prepares to launch ESPN on its streaming app in direct competition to Foxtel from the end of this month.

How about this one sean story number four. Disney is considering spending more money on domestic sports rights as it prepares to launch ESPN on its streaming app in direct competition to Foxtel from the end of this month.

So ESPN has things like the NBA, Major League Baseball, the National Hockey League in the USUFC Fight Night that begins to appear on Disney Plus from March twenty six. Disney Plus has about three point one million subscribers in Australia. It's also got the rights to the local basketball competition the NBL. Now, ESPN will remain on Foxtel and KO as well as Telstra's Fetch TV, but subscription fees at Foxtel, for example, are much more expensive than Disney Plus. It won't cost existing users anymore, so if you've got Disney Plus, you'll get ESPN for free, and Australia will be the first English language market outside the US to add ESPN. According to the fin Review, Disney Plus is really trying to push hard into sporting rights around the world and in Australia as well. After six years of operation, it's the third biggest streaming service in this country, behind Netflix and Amazon Prime, and it's certainly going to setting out to disrupt Foxtel.

So ESPN has things like the NBA, Major League Baseball, the National Hockey League in the USUFC Fight Night that begins to appear on Disney Plus from March twenty six. Disney Plus has about three point one million subscribers in Australia. It's also got the rights to the local basketball competition the NBL. Now, ESPN will remain on Foxtel and KO as well as Telstra's Fetch TV, but subscription fees at Foxtel, for example, are much more expensive than Disney Plus. It won't cost existing users anymore, so if you've got Disney Plus, you'll get ESPN for free, and Australia will be the first English language market outside the US to add ESPN. According to the fin Review, Disney Plus is really trying to push hard into sporting rights around the world and in Australia as well. After six years of operation, it's the third biggest streaming service in this country, behind Netflix and Amazon Prime, and it's certainly going to setting out to disrupt Foxtel.

Last one story number five, Elon Musk is under pressure to spend more time running his businesses and less time advising Donald Trump, with all three of his main businesses, EV maker Tesla, social media site X, rocket maker SpaceX all running into challenges.

Last one story number five, Elon Musk is under pressure to spend more time running his businesses and less time advising Donald Trump, with all three of his main businesses, EV maker Tesla, social media site X, rocket maker SpaceX all running into challenges.

On Monday, US time, uses of X reported widespread outages. The same day, Tesla stock price film more than fifteen percent, amid concerns including declining EV sales and politically driven protests against the manufacturer. Now last week, a SpaceX rocket exploded in Florida during the launch, showering some places with debris into The New York Times that Musket blamed the X issues on our cyber attack stemming from Ukraine. They didn't provide any evidence on that one. He passed it on our next that Democratic donors were responsible for seeding protests against Tesla, again without evidence, and in response to the SpaceX explosion, he simply said, rocks are hard.

On Monday, US time, uses of X reported widespread outages. The same day, Tesla stock price film more than fifteen percent, amid concerns including declining EV sales and politically driven protests against the manufacturer. Now last week, a SpaceX rocket exploded in Florida during the launch, showering some places with debris into The New York Times that Musket blamed the X issues on our cyber attack stemming from Ukraine. They didn't provide any evidence on that one. He passed it on our next that Democratic donors were responsible for seeding protests against Tesla, again without evidence, and in response to the SpaceX explosion, he simply said, rocks are hard.

There we go the top five business stories in five minutes. Thank you Sean, Thank you Michael. It is Wednesday, the twelfth of March 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 or had a longer Fearangreed dot com dot au, which is also where you can sign up for our free weekly newsletter which comes out today. I'm Michael Thompson and that was the fast five business news by Fear and Greed. Have a great day.

There we go the top five business stories in five minutes. Thank you Sean, Thank you Michael. It is Wednesday, the twelfth of March 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 or had a longer Fearangreed dot com dot au, which is also where you can sign up for our free weekly newsletter which comes out today. I'm Michael Thompson and that was the fast five business news by Fear and Greed. Have a great day.