Welcome to the weekend edition of The Fast Five Business News by Fear and Greed. I'm Michael Thompson and Hello Sean Aylmer, Hello Michael Shawn. On weekdays, it's all about the Fast five, the top five business stories in five minutes. On the weekend, we still keep it to five minutes, of course, but we're going to pick out the biggest business story of the week, the most remarkable business story, a good news story this week, and then our favorite business story. Let's jump straight into the biggest business story. And I reckon this week. It was the fact that Australia kind of realized this week that we are not that special, at least in the eyes I'm not disappointed to say that, isn't it in the eyes of the US it would be a bit of a rude awakening for our leaders, for the Prime Minister and the opposition leader. We had US President Donald Trump refusing to give Australia an exemption on twenty five percent tariffs for steel and aluminium export. It's been going on for weeks, right there's a phone calls, or at one phone call at least from Albow to Trump pleading for an exemption. It was being considered. It didn't happen. So aluminium is not the biggest export in the scheme of things, it's a billion dollars a year. But the political implications of this are significant because we are not special In Peter Dutton's claims that he would have been able to secure a different result if he was in office, it's probably unlikely. It feels as though we are just being treated just like the rest of the world, Shohn.

Welcome to the weekend edition of The Fast Five Business News by Fear and Greed. I'm Michael Thompson and Hello Sean Aylmer, Hello Michael Shawn. On weekdays, it's all about the Fast five, the top five business stories in five minutes. On the weekend, we still keep it to five minutes, of course, but we're going to pick out the biggest business story of the week, the most remarkable business story, a good news story this week, and then our favorite business story. Let's jump straight into the biggest business story. And I reckon this week. It was the fact that Australia kind of realized this week that we are not that special, at least in the eyes I'm not disappointed to say that, isn't it in the eyes of the US it would be a bit of a rude awakening for our leaders, for the Prime Minister and the opposition leader. We had US President Donald Trump refusing to give Australia an exemption on twenty five percent tariffs for steel and aluminium export. It's been going on for weeks, right there's a phone calls, or at one phone call at least from Albow to Trump pleading for an exemption. It was being considered. It didn't happen. So aluminium is not the biggest export in the scheme of things, it's a billion dollars a year. But the political implications of this are significant because we are not special In Peter Dutton's claims that he would have been able to secure a different result if he was in office, it's probably unlikely. It feels as though we are just being treated just like the rest of the world, Shohn.

We're being treated like their best friends, Canada or Mexico. So it's okay. My biggest story of the week is what's going on in financial markets, particularly equities. Banks sold off, tech stocks sold off, consumer discretionary companies sold off. Why well, equity valuations began very high. They got too expensive. They're coming back a bit. Hopes of a bunch of rate cuts in the US and Australia have been dashed by sticky inflation. Those magnificent seven tech stocks on Wall Street they rent too hard. We're paying for that a bit now and overlaying all this is the Trump trade war, specifically for Australia, of course, is the aluminum and steel tariffs that you were talking about. Michael Selofs aren't abnormal. It's part of the market, especially when they starting a bit expensive. Over time, though, the economy grows so true too does markets, but analysts warn we could be in for a tough period in the short term.

We're being treated like their best friends, Canada or Mexico. So it's okay. My biggest story of the week is what's going on in financial markets, particularly equities. Banks sold off, tech stocks sold off, consumer discretionary companies sold off. Why well, equity valuations began very high. They got too expensive. They're coming back a bit. Hopes of a bunch of rate cuts in the US and Australia have been dashed by sticky inflation. Those magnificent seven tech stocks on Wall Street they rent too hard. We're paying for that a bit now and overlaying all this is the Trump trade war, specifically for Australia, of course, is the aluminum and steel tariffs that you were talking about. Michael Selofs aren't abnormal. It's part of the market, especially when they starting a bit expensive. Over time, though, the economy grows so true too does markets, but analysts warn we could be in for a tough period in the short term.

Most remarkable story, What do you think this way?

Most remarkable story, What do you think this way?

Warren Buffett? He just shows up, doesn't he. He's on the Bloomberg Billionaires Index. Of the top twenty people on that index, the only one to have made substantial money this year is Warren Buffett. In fact, he's made thirteen billion dollars this year. Why is that? Because he went to cash. His motto is be fearful when others are greed to him, to be greedy only when others are fearful. When Trump got elected, he started selling down shares. He's got about a third of his holdings three hundred and thirty four billion US dollars in cash. He's got that just as the market starts to fall. He's a bit of a genius.

Warren Buffett? He just shows up, doesn't he. He's on the Bloomberg Billionaires Index. Of the top twenty people on that index, the only one to have made substantial money this year is Warren Buffett. In fact, he's made thirteen billion dollars this year. Why is that? Because he went to cash. His motto is be fearful when others are greed to him, to be greedy only when others are fearful. When Trump got elected, he started selling down shares. He's got about a third of his holdings three hundred and thirty four billion US dollars in cash. He's got that just as the market starts to fall. He's a bit of a genius.

Yeah, I think you might be right now. My most remarkable story is just a quick one. It's about the Star entertainment group of a casino operator somehow went from being completely friendless on the brink of collapse to having more suitors than arguably episode of The Bachelor Sean because not so long ago we were expecting they were teetering on the edge. Now here we are a week, two weeks later, three separate discussions underway, three separate offers around the kind of two hundred and fifty million dollar mark. There's kind of bridging loans and recapitalizations and big US casino giants. All of a sudden stuff is happening and the star has options again. To me, that's a massive turnaround.

Yeah, I think you might be right now. My most remarkable story is just a quick one. It's about the Star entertainment group of a casino operator somehow went from being completely friendless on the brink of collapse to having more suitors than arguably episode of The Bachelor Sean because not so long ago we were expecting they were teetering on the edge. Now here we are a week, two weeks later, three separate discussions underway, three separate offers around the kind of two hundred and fifty million dollar mark. There's kind of bridging loans and recapitalizations and big US casino giants. All of a sudden stuff is happening and the star has options again. To me, that's a massive turnaround.

Sure, it's good on them now, Michael new category this week because of all the bad news good news story the week. What's yours?

Sure, it's good on them now, Michael new category this week because of all the bad news good news story the week. What's yours?

I wish I was more definite on my good news because it feels like good and bad news, But I'm going to focus on the good. The value of scam losses in Australia fell by twenty six percent last year to two billion dollars. It is still a ridiculously high number, but it is getting better. The value lost is going down, so we're getting better smarter at detecting the scams. The number of reported scams decreased to under five hundred thousand, though you would think that there's probably a lot that aren't actually reported. Investment scams saw the highest overall losses. I think it is good news because it shows that the systems that are in place, the banks in particular, are getting really good at detecting these and educating people and helping people to avoid being scammed. Still a lot of money, but we are hitting in the right direction.

I wish I was more definite on my good news because it feels like good and bad news, But I'm going to focus on the good. The value of scam losses in Australia fell by twenty six percent last year to two billion dollars. It is still a ridiculously high number, but it is getting better. The value lost is going down, so we're getting better smarter at detecting the scams. The number of reported scams decreased to under five hundred thousand, though you would think that there's probably a lot that aren't actually reported. Investment scams saw the highest overall losses. I think it is good news because it shows that the systems that are in place, the banks in particular, are getting really good at detecting these and educating people and helping people to avoid being scammed. Still a lot of money, but we are hitting in the right direction.

My quick one from me consumer sentiment back to where we were before we started lifting interest rates back in early twenty twenty two. People are a little bit happy because of that rate cut we had a couple of weeks ago. That is good news.

My quick one from me consumer sentiment back to where we were before we started lifting interest rates back in early twenty twenty two. People are a little bit happy because of that rate cut we had a couple of weeks ago. That is good news.

A favorite story I've only mentioned this one in one or two lines sean Donald Trump posing in a Tesla out the front of the White House. I find it entertaining because the photo is really something else altogether, and the fact that the President has come to the rescue to try and defend Elon Musk, who has been doing a lot of work trying to cut government spending. And the Tesla share price has been plummeting recently, and Donald Trump defended him on X saying, hey, this is a good company, and Elon Musk is doing his best to make America great again. I'm going to buy a tesla, and he did it, and he did it publicly out the front of the White House, paid for it with a check. Is staff are going to use it.

A favorite story I've only mentioned this one in one or two lines sean Donald Trump posing in a Tesla out the front of the White House. I find it entertaining because the photo is really something else altogether, and the fact that the President has come to the rescue to try and defend Elon Musk, who has been doing a lot of work trying to cut government spending. And the Tesla share price has been plummeting recently, and Donald Trump defended him on X saying, hey, this is a good company, and Elon Musk is doing his best to make America great again. I'm going to buy a tesla, and he did it, and he did it publicly out the front of the White House, paid for it with a check. Is staff are going to use it.

It's just a strange story, very strange story. Look, my favorite story is kind of a weird one because it's the Trump one too. At least we're talking about peace in Ukraine at the moment. This war has been going on for three years. We've now got keV and Washington getting together saying we want to do a thirty day ceasefire. I don't think Moscow's there yet. We've still got a long way to go, but at least we are talking peace in Ukraine. A lot of hurdles to overcome before we get there, but I just like the fact that that's where the discussions are at.

It's just a strange story, very strange story. Look, my favorite story is kind of a weird one because it's the Trump one too. At least we're talking about peace in Ukraine at the moment. This war has been going on for three years. We've now got keV and Washington getting together saying we want to do a thirty day ceasefire. I don't think Moscow's there yet. We've still got a long way to go, but at least we are talking peace in Ukraine. A lot of hurdles to overcome before we get there, but I just like the fact that that's where the discussions are at.

It feels like progress. There will go five minutes and pretty much everything you need to know in the world of business.

It feels like progress. There will go five minutes and pretty much everything you need to know in the world of business.

Thank you, Saw and thank you Michael.

Thank you, Saw and thank you Michael.

We'll be back on Monday morning with the top five business stories in five minutes. Don't forget to hit follow and join us online on Instagram, TikTok, LinkedIn, Facebook.

We'll be back on Monday morning with the top five business stories in five minutes. Don't forget to hit follow and join us online on Instagram, TikTok, LinkedIn, Facebook.

And X.

And X.

I'm Michael Thompson and this is the Fast five business news by Fear and Greet

I'm Michael Thompson and this is the Fast five business news by Fear and Greet