It's Wednesday, that twenty seventh of November twenty twenty four. 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, that twenty seventh of November twenty twenty four. 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. Story number one is a big one. Donald Trump has upended global trade rules even before taking office, saying he will impose a twenty five percent tariff on all products from Mexico and Canada on his first day in office, and another ten percent on goods from China.

Five stories, five minutes, let's go. Story number one is a big one. Donald Trump has upended global trade rules even before taking office, saying he will impose a twenty five percent tariff on all products from Mexico and Canada on his first day in office, and another ten percent on goods from China.

Very aggressive comments aimed at the US's neighbors and in Canada, his closest ally. Donald Trump side of concerns over illegal immigration in the case of Mexico and illicit drugs in the case of Canada and China. He said he'll sign the first executive order on all products coming into the US. He put that on truth social media platform, He's social media platform, and of course he put caps on on all products. Tariffs remain until the country's clamped down on drugs, especially faginal and migrants stopped crossing the border illegally. Mister Trump said Fangtional is a synthetic opioid that's claimed the lives of about seventy five thousand Americans each year. He attacked China for not carrying out the death penalty for people dealing infentanel. Now, while some say Donald Trump's tweets are part of a negotia heating position he's establishing ahead of becoming president, they're certainly very aggressive, aggressive enough to scare investors. The US dollar surged, pushing the Aussie dollar back towards sixty four US cents. That's the weakest level in four years, so it did rebound a bit yesterday. Copper and based metals, which tend to rise and fall in line with expected fouture economic growth, they all fell. Slapping tariffs will push up inflation. Therefore, bon neils jumped, higher interest rates, The Canadian dollar had its lowest level since twenty twenty. The Mexican pay so tumbled. Even Bitcoin went backwards, down six percent three sessions. Now they're still worth more than ninety four thousand USL's unit. Gold prices bounced, and.

Very aggressive comments aimed at the US's neighbors and in Canada, his closest ally. Donald Trump side of concerns over illegal immigration in the case of Mexico and illicit drugs in the case of Canada and China. He said he'll sign the first executive order on all products coming into the US. He put that on truth social media platform, He's social media platform, and of course he put caps on on all products. Tariffs remain until the country's clamped down on drugs, especially faginal and migrants stopped crossing the border illegally. Mister Trump said Fangtional is a synthetic opioid that's claimed the lives of about seventy five thousand Americans each year. He attacked China for not carrying out the death penalty for people dealing infentanel. Now, while some say Donald Trump's tweets are part of a negotia heating position he's establishing ahead of becoming president, they're certainly very aggressive, aggressive enough to scare investors. The US dollar surged, pushing the Aussie dollar back towards sixty four US cents. That's the weakest level in four years, so it did rebound a bit yesterday. Copper and based metals, which tend to rise and fall in line with expected fouture economic growth, they all fell. Slapping tariffs will push up inflation. Therefore, bon neils jumped, higher interest rates, The Canadian dollar had its lowest level since twenty twenty. The Mexican pay so tumbled. Even Bitcoin went backwards, down six percent three sessions. Now they're still worth more than ninety four thousand USL's unit. Gold prices bounced, and.

Just as an example of how Australia's being drawn into this Sewan. In Australia. We had China's ambassador in canberrah Our Chain, speaking after the Trump tweet, and he was saying that the US trade policy is an important element in Australia's relationship with the US.

Just as an example of how Australia's being drawn into this Sewan. In Australia. We had China's ambassador in canberrah Our Chain, speaking after the Trump tweet, and he was saying that the US trade policy is an important element in Australia's relationship with the US.

It just shows the wide ranging gradifications what Donald Trump is proposing. Treasure of Jim Chalmers urged carm saying the incoming US administration will bring different policies. His confidence Australia can navigate those changes. We'll see, Michael, We'll see.

It just shows the wide ranging gradifications what Donald Trump is proposing. Treasure of Jim Chalmers urged carm saying the incoming US administration will bring different policies. His confidence Australia can navigate those changes. We'll see, Michael, We'll see.

Indeed, we will. All right, Moving on to story number two. Parliament is in full swing, but one bill that's unlikely to be passed this week and possibly not actually even before the next election is legislation to increase the earnings tax on superannuation accounts worth more than three million dollars.

Indeed, we will. All right, Moving on to story number two. Parliament is in full swing, but one bill that's unlikely to be passed this week and possibly not actually even before the next election is legislation to increase the earnings tax on superannuation accounts worth more than three million dollars.

Finance Minister Katie Gallaher conceded it was a big ask, doesn't have the support of the opposition of the cross benches, a very big ask. She said. It still remains labor policy even though the Government hasn't been able to negotiate it through the cross benches. The social media ban legislation will pass, although a couple of Nats yesterday spoke against it as some independence laws funding public schools about sixteen billion dollars worth their three point six billion dollars for wage increases for toildcare workers that they were set to pass, and the Greens back down in their fight against the governments helped to buy and build to rent housing schemes. Big win for the government, both pieces of legislation which were election promises past the Senate yesterday.

Finance Minister Katie Gallaher conceded it was a big ask, doesn't have the support of the opposition of the cross benches, a very big ask. She said. It still remains labor policy even though the Government hasn't been able to negotiate it through the cross benches. The social media ban legislation will pass, although a couple of Nats yesterday spoke against it as some independence laws funding public schools about sixteen billion dollars worth their three point six billion dollars for wage increases for toildcare workers that they were set to pass, and the Greens back down in their fight against the governments helped to buy and build to rent housing schemes. Big win for the government, both pieces of legislation which were election promises past the Senate yesterday.

Story number three. Tech giant Google has backed Australia Connect, which is a connectivity project that will build two new subsea cables between mainland capital cities and Christmas Island.

Story number three. Tech giant Google has backed Australia Connect, which is a connectivity project that will build two new subsea cables between mainland capital cities and Christmas Island.

The first cable will run between Darwin and Christmas Island, while a second one will link Melbourne to Perth and onto Christmas Island and Singapore. According to The Sydney Morning Herald, se cable technology is deployed across thousands of klomenters of ocean floor carries most of the world's Internet traffic. Google has formed a consortium to build the project. It includes data center provider next DC, Focus, the Telco Group, State governments, a few others. Communications Minister Michelle Roland yesterday said the cables will expand in strength not just digital connectivity inside of Australia, but in the civic as well. Really important this infrastructure. Remember last week we're talking about a twelve hundred kometer cable between Finland and Germany being sabotaged. It really makes the digital connectivity of a country work.

The first cable will run between Darwin and Christmas Island, while a second one will link Melbourne to Perth and onto Christmas Island and Singapore. According to The Sydney Morning Herald, se cable technology is deployed across thousands of klomenters of ocean floor carries most of the world's Internet traffic. Google has formed a consortium to build the project. It includes data center provider next DC, Focus, the Telco Group, State governments, a few others. Communications Minister Michelle Roland yesterday said the cables will expand in strength not just digital connectivity inside of Australia, but in the civic as well. Really important this infrastructure. Remember last week we're talking about a twelve hundred kometer cable between Finland and Germany being sabotaged. It really makes the digital connectivity of a country work.

Under story number four now Shawn, US President Joe Biden and French President Emmanuel Macron are expected to announce a ceasefire in Lebanon between armed group Hesbellah and Israel imminently, according to a report on Router's we get.

Under story number four now Shawn, US President Joe Biden and French President Emmanuel Macron are expected to announce a ceasefire in Lebanon between armed group Hesbellah and Israel imminently, according to a report on Router's we get.

Up early for this show, so it could even have happened by now, Michael, or be happening right now. In Washington, White House National Security spokesperson John Kirby said, we're closed, but nothing's done until it's done. The French presidency said discussions and a ceasfarw had made significant progress. In Jerusalem, a senior Israeli official said Israel's cabinet would meet overnight to approve a truce deal with Hesbella. Signs of diplomatic breakthrough were accompanied, though by heavy Israeli airstrikes on by Riz Hesbala controlled southern suburbs as Israel pressed on with the offensive it launched in September after almost a year of cross border hostilities.

Up early for this show, so it could even have happened by now, Michael, or be happening right now. In Washington, White House National Security spokesperson John Kirby said, we're closed, but nothing's done until it's done. The French presidency said discussions and a ceasfarw had made significant progress. In Jerusalem, a senior Israeli official said Israel's cabinet would meet overnight to approve a truce deal with Hesbella. Signs of diplomatic breakthrough were accompanied, though by heavy Israeli airstrikes on by Riz Hesbala controlled southern suburbs as Israel pressed on with the offensive it launched in September after almost a year of cross border hostilities.

Swan story number five. General Motors has taken a major step towards competing in Formula one car racing under its Cadillac brand as the sport expands quickly in the US.

Swan story number five. General Motors has taken a major step towards competing in Formula one car racing under its Cadillac brand as the sport expands quickly in the US.

Every One said it had reached an agreement in principle with a US car maker under which Cadillac will become the eleventh team on the series grid from twenty twenty six. Big breakthrough in the talks between the two sides under Liberty Media, which is owned F one. Since twenty seventeen, the sports expanded in the US new races in Miami and Las Vegas. Las Vegas was last weekend. GM's planned to join F one highlights its attractiveness, not only as teams have sought in value due to the growth of the sport, but also because of the limits placed on how much they can spend on developing cars, thereby protecting shareholders. That's the theory. General Matters president Mark Rissid it was an honor to join F one. Described the sport as a global stage to showcase engineering expertise and technology leadership at an entirely new level.

Every One said it had reached an agreement in principle with a US car maker under which Cadillac will become the eleventh team on the series grid from twenty twenty six. Big breakthrough in the talks between the two sides under Liberty Media, which is owned F one. Since twenty seventeen, the sports expanded in the US new races in Miami and Las Vegas. Las Vegas was last weekend. GM's planned to join F one highlights its attractiveness, not only as teams have sought in value due to the growth of the sport, but also because of the limits placed on how much they can spend on developing cars, thereby protecting shareholders. That's the theory. General Matters president Mark Rissid it was an honor to join F one. Described the sport as a global stage to showcase engineering expertise and technology leadership at an entirely new level.

All right, there we go to the top five business stories in five minutes. Thank you Sean, Thank you Michael. It is Wednesday, the twenty seventh of November twenty twenty four. Remember hit follow on the podcast and 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.

All right, there we go to the top five business stories in five minutes. Thank you Sean, Thank you Michael. It is Wednesday, the twenty seventh of November twenty twenty four. Remember hit follow on the podcast and 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.