It's Wednesday, the nineteenth of March 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 Aylmer.

It's Wednesday, the nineteenth of March 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 Aylmer.

Good morning, Michael, Sean.

Good morning, Michael, Sean.

Five stories, five minutes. Let's go a story. Number one. Federal Treasurer Jim Chalmers has blasted the US administration over the introduction of tariff's, warning of slower economic growth. He also confirmed next week's budget will show a deficit for many.

Five stories, five minutes. Let's go a story. Number one. Federal Treasurer Jim Chalmers has blasted the US administration over the introduction of tariff's, warning of slower economic growth. He also confirmed next week's budget will show a deficit for many.

Years now a major speech in Brisbane ahead of the budget, the Treasurer has said Australia should focus on resilience over retaliation, and when it comes to Trump's tariffs, he said the US tariffs are self defeating and self sabotaging and he fears the global economy will grow more slowly thanks to them. And I quote, in a world of retaliation and escalation, the impacts of tariff's are amplified. They linger for longer, resulting in a bigger reduction in GDP and a bigger increase in prices. Now on Monday night, the Paris based OECD issued a more downbeat assessment the global economy. It reckons Australia will grow one point eight percent next year. That report also said tariff's will push consumer prices higher and could force central banks to start lifting interest rates to the OECD and Charmer's view was backed up yesterday by National Australia Bank Chief executive Andrew Irvine. He said, if the tariff madness does happen, we may be at the end of the interest rate reduction cycle.

Years now a major speech in Brisbane ahead of the budget, the Treasurer has said Australia should focus on resilience over retaliation, and when it comes to Trump's tariffs, he said the US tariffs are self defeating and self sabotaging and he fears the global economy will grow more slowly thanks to them. And I quote, in a world of retaliation and escalation, the impacts of tariff's are amplified. They linger for longer, resulting in a bigger reduction in GDP and a bigger increase in prices. Now on Monday night, the Paris based OECD issued a more downbeat assessment the global economy. It reckons Australia will grow one point eight percent next year. That report also said tariff's will push consumer prices higher and could force central banks to start lifting interest rates to the OECD and Charmer's view was backed up yesterday by National Australia Bank Chief executive Andrew Irvine. He said, if the tariff madness does happen, we may be at the end of the interest rate reduction cycle.

What about the budget? Did we get many hints about what's in it?

What about the budget? Did we get many hints about what's in it?

Not a lot. Apart from the fact that there will be deficits for the foreseeable future. The last two financial years have been in surplus. The latest fiscal update forecast a deficit of about twenty seven billion dollars this financial year. The Treasurer suggests there won't be much of a change in that. Yesterday he said there's a little extra revenue. Or sorry, he said, there is little extra revenue, as in not much to fund new demands and the governor has already announced the bulk of its pre election spending initiatives came out of course cost of living. There will be something in the budget to relieve cost of living pressure.

Not a lot. Apart from the fact that there will be deficits for the foreseeable future. The last two financial years have been in surplus. The latest fiscal update forecast a deficit of about twenty seven billion dollars this financial year. The Treasurer suggests there won't be much of a change in that. Yesterday he said there's a little extra revenue. Or sorry, he said, there is little extra revenue, as in not much to fund new demands and the governor has already announced the bulk of its pre election spending initiatives came out of course cost of living. There will be something in the budget to relieve cost of living pressure.

Yes, of course, all right. Story number two still in politics, oppositionally to Peter Dutton is pushing a referendum to give the government powers to deport criminal duel nationals.

Yes, of course, all right. Story number two still in politics, oppositionally to Peter Dutton is pushing a referendum to give the government powers to deport criminal duel nationals.

In fact, mister Dutton said spending four hundred and fifty million dollars on a referendum would be good value for money. The Coalition is thinking about promising a referendum on deportation powers, which would potentially hand the government the ability to cancel the citizenship of anyone found guilty of serious crimes such as terrorism offenses. This was tested in the High Court in twenty twenty two. Didn't hold up. Now The voice referendum cost four hundred and fifty million dollars. That's where that number comes from. Only eight of the forty five referendums since Federation have passed. So a referendum on the government powers to deport criminal duel nations hmm, not sure that one will pass either.

In fact, mister Dutton said spending four hundred and fifty million dollars on a referendum would be good value for money. The Coalition is thinking about promising a referendum on deportation powers, which would potentially hand the government the ability to cancel the citizenship of anyone found guilty of serious crimes such as terrorism offenses. This was tested in the High Court in twenty twenty two. Didn't hold up. Now The voice referendum cost four hundred and fifty million dollars. That's where that number comes from. Only eight of the forty five referendums since Federation have passed. So a referendum on the government powers to deport criminal duel nations hmm, not sure that one will pass either.

Story number three, This one's incredible. Sean Robin Denholm, the Australian chair of Tesla and ostensibly the boss of Elon Musk, has made so far close to seven hundred million US dollar in pay and stock during her time at the ev maker.

Story number three, This one's incredible. Sean Robin Denholm, the Australian chair of Tesla and ostensibly the boss of Elon Musk, has made so far close to seven hundred million US dollar in pay and stock during her time at the ev maker.

Denholm was picked by Mask to run the Tesla board and is the best paid chair of any public company in the United States. Rouders has calculated her compensation since she first joined the board in twenty fourteen as six hundred and eighty two million dollars. That's more than one billions dollars. Today, she's cashed in about five hundred and thirty two million US of Tesla shares. She is a rich woman. Her previous jobs in tech, including at Telstra, paid her a maximum of three million US annually, pretty good, but she's now on average getting twenty times that. A former accountant and relative unknown until taking the chairs job at Tesla, Denholm has been criticized for defending a fifty six billion with a B payout for Mask, a payout which was rejected by courts, though that's still in the legal system. Now she's under more pressure as Musk spends time with the Trump administration and the share price of Tesla tanks. She's also been criticized in a Delaware court, with a judge saying her lucrative board pay has hindered her ability to perform her duties.

Denholm was picked by Mask to run the Tesla board and is the best paid chair of any public company in the United States. Rouders has calculated her compensation since she first joined the board in twenty fourteen as six hundred and eighty two million dollars. That's more than one billions dollars. Today, she's cashed in about five hundred and thirty two million US of Tesla shares. She is a rich woman. Her previous jobs in tech, including at Telstra, paid her a maximum of three million US annually, pretty good, but she's now on average getting twenty times that. A former accountant and relative unknown until taking the chairs job at Tesla, Denholm has been criticized for defending a fifty six billion with a B payout for Mask, a payout which was rejected by courts, though that's still in the legal system. Now she's under more pressure as Musk spends time with the Trump administration and the share price of Tesla tanks. She's also been criticized in a Delaware court, with a judge saying her lucrative board pay has hindered her ability to perform her duties.

Story number four Thailand. SEAN plans to have the number of days that allows foreign tourists to stay without visas to thirty days as the nation cracksdown on travelers who've been exploiting the waiver to engage in illegal businesses.

Story number four Thailand. SEAN plans to have the number of days that allows foreign tourists to stay without visas to thirty days as the nation cracksdown on travelers who've been exploiting the waiver to engage in illegal businesses.

Thailand allows passport holders from ninety three countries to enter the country for tourism for a period not exceeding sixty days. The reduction to thirty days has been greed in principle. Now why are they doing it well? The Association of Thai Travel Agents are worried over the growing number of foreigners illegally working or doing business in the country. The Thai Hotels Association said the long visa free period might be to blame for the increasing condominium units being illegally rented out to foreign guess. Tourism of course key driver the Thai economy. It's the second largest economy in the region. The government's targeting foreign tourist arrivals to top forty million this year. That's back to pre pandemic levels.

Thailand allows passport holders from ninety three countries to enter the country for tourism for a period not exceeding sixty days. The reduction to thirty days has been greed in principle. Now why are they doing it well? The Association of Thai Travel Agents are worried over the growing number of foreigners illegally working or doing business in the country. The Thai Hotels Association said the long visa free period might be to blame for the increasing condominium units being illegally rented out to foreign guess. Tourism of course key driver the Thai economy. It's the second largest economy in the region. The government's targeting foreign tourist arrivals to top forty million this year. That's back to pre pandemic levels.

That is huge. Last one, this is quite incredible as massive stories. Today Sean story number five byd has unveiled a new system for electric cars that the Chinese automaker says, will allow them to charge almost as fast as it takes a regular car to refuel, which is arguably the holy grail right for EV's.

That is huge. Last one, this is quite incredible as massive stories. Today Sean story number five byd has unveiled a new system for electric cars that the Chinese automaker says, will allow them to charge almost as fast as it takes a regular car to refuel, which is arguably the holy grail right for EV's.

I think so. BYD's new battery and charging system was capable of providing four hundred kilometers of range in five minutes in tests on its new hahn El Sadan. The manufacturer will start selling vehicles with the new technology next month. According to Reuters, BYD's market value on the Hong Kong Stock Exchange now more than Ford, more than GM, more than Volswagen, about a quarter of Tesla, although it sells more evs than Tesla. But as you say, being able to charge your car and the time it takes a combustion engine vehicle to pull in and out of a petrol station pretty much the holy grail.

I think so. BYD's new battery and charging system was capable of providing four hundred kilometers of range in five minutes in tests on its new hahn El Sadan. The manufacturer will start selling vehicles with the new technology next month. According to Reuters, BYD's market value on the Hong Kong Stock Exchange now more than Ford, more than GM, more than Volswagen, about a quarter of Tesla, although it sells more evs than Tesla. But as you say, being able to charge your car and the time it takes a combustion engine vehicle to pull in and out of a petrol station pretty much the holy grail.

All right, there we go to the top five business stories in five minutes. Thank you Sean, Thank you Michael. It is Wednesday, the nineteenth 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, and head along to Fearangreed dot com dot au and sign up for our free weekly newsletter. It comes out every Wednesday. I'm Michael Thompson and that was the fast five business news by Fear and Greed. Have a great day.

All right, there we go to the top five business stories in five minutes. Thank you Sean, Thank you Michael. It is Wednesday, the nineteenth 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, and head along to Fearangreed dot com dot au and sign up for our free weekly newsletter. It comes out every Wednesday. I'm Michael Thompson and that was the fast five business news by Fear and Greed. Have a great day.