Business wrap

0:00It is time to talk business thanks to our partners for Cythe Bar, Garth Bracey and with us this morning, Garth, good morning. Right. Big day for the India FTA. Huge day, really. We'll see the actual document and finally, once they table it in Parliament, I think in front of the finance and expenditure committee later this week. But really, this is a big shift. I mean, I think the average tariff drops from about 15 to about 3%, but people calling this a new age FTA deal, which doesn't mean that it'll do its share of the dishes or whatever. It basically means this is about the three eyes, which is IP, investment and immigration. And that really is quite a difference, I think. We've heard a lot of these debates about immigration numbers and how that could be affected. But putting something like that in a free trade agreement is quite different from what we did with say China, which was mostly about just market access. And this is a real shift. It's really a deal that asks businesses to do a bit more than just find somebody in market who can flog yourself. It's actually more a, it's a bit less transactional but more of a relationship building thing. Weirdly, a lot like what we've been doing for over 40 years with Australia. So we kind of got there first.

1:00The rest of the world is catching up saying, hey, this is actually the way you should do things. And I think that WTAO says our deal with Australia is still regarded as the world-class best free trade kind of deal that you could possibly imagine in the world. The gold standard. Yeah. Disney's chasing some ad dollars using their sports rights. Yeah, right. So we piece it, Markets reporter, Rebecca Stevenson and business desk is picked up on. Obviously, because it affects big local listing sky TV who are the big dog in sports rights, you know, they've got the EPL and the NRL. Well, for another year if they can sort of hang on after that we'll see. But Disney has entered into the fray. I think last week announced a $10 deal basically ad supported rather than no ads. And they are going to market saying, you can put your ads, businesses alongside some of the sports content that ESPN has got on Disney, which is things like the Super Bowl. And a whole bunch about the NBA, National Hockey League stuff that's really started to take off. You even saw, I think, shazies and turners putting ads into

2:01the local version of the Super Bowl coverage when it ran here this year, which is kind of a new development. And a really interesting player, I guess, as you've got these two players, Disney, I think it's clocking something like a million viewers and skies about 1.2. It's pretty static though. So it's a really interesting battle that's sort of shaping up there over those ad dollars using sports rights. Totally. Now, what's the latest with this idea? And it is just an idea of a few signatures, but quite a few signatures. Or a wealth tax. Yeah. And I guess, you know, it's the eighth biggest economy in the world, right? So when stuff happens, you pay attention. And California, they, the people that are trying, it's a union funded initiative. They wanted to get a ballot on the November votes to say, should we tax, I think, is about 200 qualifying billionaires, in California, 5% of their wealth is sort of a one-off hit to offset the costs of cuts. They've now reportedly, in the Wall Street Genocide, got one and a half million signatures for that. They needed about half that number to get it on the ballot.

3:04They're now going to go and show that all of those signatures valid to actually prove it, but that's looking pretty likely when you've got twice as many as you need. Doesn't mean that the votes down, obviously, they've still got to put it to people, but the latest reports suggest over half, about 52% of people in California would support the measure. You're going to see a huge campaign. There are probably lots of reporting from the US from the people that don't want this saying. This is, you know, the last thing we want. But you're also seeing millionaires, the CJ Brunner, I think, Larry Page, the Google guys leaving the state. Businesses looking at spreading their offices. I think Nashville's taking office a place in America where you put some of your head offices. People just going, we might just clear out before this thing kicks off. It's a really interesting one to watch. Yeah, absolutely. Although Gavin Newsom, even he's come out against his knee, well, he's a bit rich too. Well, I don't think he qualifies with this one, is it? Yeah, but it's, look, it's, it's, it's a, she's going to be a big p-afflight. Garth Bray, and that's our business reporter, Garth Bray. We talk business every day, thanks to our partner's full-south bump.