1 00:00:06,320 --> 00:00:09,040 Speaker 1: Today on Fear and Greed. Inflation remains in the Reserve 2 00:00:09,080 --> 00:00:12,399 Speaker 1: Banks target band, opening the way for another interest rate cut. 3 00:00:12,840 --> 00:00:16,400 Speaker 1: The federal Coalition reforms and the Shadow Ministry is announced, 4 00:00:16,400 --> 00:00:19,960 Speaker 1: with some high profile liberal MPs losing out, and Labor 5 00:00:20,079 --> 00:00:23,919 Speaker 1: greenlights the extension of Woodside's Northwest Shelf gas project for 6 00:00:23,960 --> 00:00:27,760 Speaker 1: another forty five years. Plus. Meyer doubles down on its 7 00:00:27,800 --> 00:00:32,840 Speaker 1: loyalty program, and Elon Musk's SpaceX program experiences a third 8 00:00:33,040 --> 00:00:36,240 Speaker 1: crash in three attempts. Welcome to Fear and Greed, daily 9 00:00:36,280 --> 00:00:38,479 Speaker 1: business news for people who make their own decisions. It 10 00:00:38,600 --> 00:00:42,080 Speaker 1: is Thursday, the twenty ninth of May twenty twenty five. 11 00:00:42,520 --> 00:00:44,760 Speaker 1: I'm Michael Thompson and good morning Sean Aylmer. 12 00:00:44,840 --> 00:00:45,720 Speaker 2: Good morning, Michael. 13 00:00:46,159 --> 00:00:48,080 Speaker 1: Massive news day today, Sean. A great day to be 14 00:00:48,120 --> 00:00:49,519 Speaker 1: signed up to the newsletter, isn't it? 15 00:00:49,840 --> 00:00:52,680 Speaker 2: Absolutely huge amount of stuff going on over the past 16 00:00:52,680 --> 00:00:54,120 Speaker 2: twenty four hours. And if you want to get to 17 00:00:54,200 --> 00:00:56,920 Speaker 2: your desk and be one step ahead of everyone else 18 00:00:56,960 --> 00:00:59,480 Speaker 2: in the office, make sure you sign up to our 19 00:00:59,520 --> 00:01:01,920 Speaker 2: Fear and Green newsletter, because that's exactly what you will 20 00:01:01,920 --> 00:01:02,520 Speaker 2: be if you do that. 21 00:01:02,720 --> 00:01:04,400 Speaker 1: Indeed, I'll put a link in today's show. Note so 22 00:01:04,440 --> 00:01:06,240 Speaker 1: that you can sign up in your inbox every morning 23 00:01:06,280 --> 00:01:09,280 Speaker 1: by six am and it's entirely free. It's at the website. 24 00:01:09,640 --> 00:01:13,399 Speaker 1: The main story this morning sean inflation is unlikely to 25 00:01:13,440 --> 00:01:16,080 Speaker 1: prevent another interest rate cut in coming months, with the 26 00:01:16,120 --> 00:01:21,679 Speaker 1: monthly CPI reading showing both headline and underlying inflation well 27 00:01:21,720 --> 00:01:23,399 Speaker 1: within the Reserve banks target band. 28 00:01:23,720 --> 00:01:26,880 Speaker 2: Headline inflation was unchanged at two point four percent in 29 00:01:26,920 --> 00:01:29,000 Speaker 2: the twelve months to the end of April, according to 30 00:01:29,120 --> 00:01:32,000 Speaker 2: the Australian Bureau Statistics, a figure that was actually a 31 00:01:32,040 --> 00:01:35,560 Speaker 2: touch above expectations. The trim mean inflation, the Reserve Bank's 32 00:01:35,760 --> 00:01:39,800 Speaker 2: preferred measure of underlying inflation, was up slightly two point 33 00:01:39,800 --> 00:01:43,160 Speaker 2: eight percent in April from two point seven percent in March. Now, 34 00:01:43,240 --> 00:01:45,800 Speaker 2: Reserve Bank Governor Michelle Bullock has said she's willing to 35 00:01:45,840 --> 00:01:49,280 Speaker 2: cut rates again following last week's twenty five basis point 36 00:01:49,280 --> 00:01:53,720 Speaker 2: cut if inflation remains in the target band, and that's 37 00:01:53,800 --> 00:01:57,920 Speaker 2: exactly where it is. There's a caveat. There's always a caveat, 38 00:01:57,960 --> 00:01:58,880 Speaker 2: and economics isn't there. 39 00:01:58,880 --> 00:01:59,480 Speaker 1: I'm serious. 40 00:02:00,440 --> 00:02:04,080 Speaker 2: This is just a monthly figure which isn't as broad 41 00:02:04,160 --> 00:02:07,640 Speaker 2: based as the quarterly figure. The Reserve Bank will pay 42 00:02:07,680 --> 00:02:10,840 Speaker 2: close attention to the quarterly figure when it comes out 43 00:02:10,919 --> 00:02:14,320 Speaker 2: at the end of July. That's why some economists think 44 00:02:14,520 --> 00:02:17,560 Speaker 2: the next rate cut won't occur at the July Board 45 00:02:17,639 --> 00:02:19,760 Speaker 2: meeting in early July, it will actually occur at the 46 00:02:19,800 --> 00:02:21,960 Speaker 2: August Board meeting. We'll wait and see how that one 47 00:02:22,160 --> 00:02:24,359 Speaker 2: bond traders a priced in an eighty percent chance that 48 00:02:24,440 --> 00:02:27,600 Speaker 2: the Reserve Bank will cut rates when the Board meets 49 00:02:27,680 --> 00:02:28,240 Speaker 2: in May. 50 00:02:28,960 --> 00:02:30,880 Speaker 1: If the Reserve Bank is going to wait until a 51 00:02:30,960 --> 00:02:34,120 Speaker 1: quarterly figure instead of looking at the monthly figure, is 52 00:02:34,160 --> 00:02:36,880 Speaker 1: there any point in having the monthly figures, Sean, and 53 00:02:36,880 --> 00:02:40,200 Speaker 1: maybe this is actually a topic for the ask Fear 54 00:02:40,200 --> 00:02:41,880 Speaker 1: and Greed that we could delve into it a little 55 00:02:41,919 --> 00:02:42,600 Speaker 1: bit more detail. 56 00:02:43,040 --> 00:02:46,520 Speaker 2: Yes, it's a very good point, it is. I mean, 57 00:02:46,720 --> 00:02:48,680 Speaker 2: the problem with the monthly figures at the moment is 58 00:02:48,720 --> 00:02:51,200 Speaker 2: that they're new and they need a few years to 59 00:02:51,320 --> 00:02:54,320 Speaker 2: kind of get into a rhythm, and then after a 60 00:02:54,320 --> 00:02:56,560 Speaker 2: few years just say, well, these monthly figures actually reflect 61 00:02:56,600 --> 00:02:59,720 Speaker 2: the quarterly figures really well, and so you might find 62 00:02:59,720 --> 00:03:02,000 Speaker 2: intil three years the monthly figures are far more important 63 00:03:02,000 --> 00:03:02,919 Speaker 2: than quarterly figures. 64 00:03:03,080 --> 00:03:04,920 Speaker 1: You've got more data than to base a trend on 65 00:03:05,000 --> 00:03:06,279 Speaker 1: and as we know, Sean. 66 00:03:06,320 --> 00:03:08,120 Speaker 2: The tends your friend. 67 00:03:08,280 --> 00:03:11,359 Speaker 1: That's a we have been hanging around together for too long. 68 00:03:11,400 --> 00:03:15,639 Speaker 1: Now now we know Sean. The housing inflation has been 69 00:03:15,800 --> 00:03:18,080 Speaker 1: a problem for a couple of years, but yesterday's figures 70 00:03:18,680 --> 00:03:20,639 Speaker 1: do suggest that some of the heat is coming out 71 00:03:20,680 --> 00:03:21,359 Speaker 1: of that market. 72 00:03:21,680 --> 00:03:25,080 Speaker 2: Yeah, some good news on housing. Inflation in that sector 73 00:03:25,320 --> 00:03:27,880 Speaker 2: is easing. It's happened for a couple of months now. 74 00:03:28,200 --> 00:03:32,240 Speaker 2: Rent inflation slate to five percent during April, according to 75 00:03:32,280 --> 00:03:36,120 Speaker 2: the Bureau Statistics. That's the lowest pace of price growth 76 00:03:36,360 --> 00:03:38,840 Speaker 2: since February twenty twenty three, though it is still above 77 00:03:38,880 --> 00:03:42,360 Speaker 2: pre pandemic levels. The reason for the slow down an 78 00:03:42,360 --> 00:03:45,400 Speaker 2: increase in rental vacancy rates. The cost of building a 79 00:03:45,440 --> 00:03:48,760 Speaker 2: new home increased by just one point two percent in 80 00:03:48,800 --> 00:03:51,040 Speaker 2: the twelve months to April was just one percent in 81 00:03:51,080 --> 00:03:54,120 Speaker 2: the twelve months to March. Now that compares to about 82 00:03:54,240 --> 00:03:56,960 Speaker 2: twenty twenty one twenty two percent in the middle of 83 00:03:56,960 --> 00:04:01,280 Speaker 2: twenty twenty two, so that's great news. The largest contributors 84 00:04:01,280 --> 00:04:04,080 Speaker 2: to inflation in April remain housing, as well as food 85 00:04:04,120 --> 00:04:07,240 Speaker 2: and health, but the heat has come out of the 86 00:04:07,280 --> 00:04:11,200 Speaker 2: housing market. The April data also includes the annual changes 87 00:04:11,280 --> 00:04:14,560 Speaker 2: in health insurance this year they rose three point seven percent. 88 00:04:14,800 --> 00:04:17,760 Speaker 2: That's the largest increase to twenty eighteen. So that kind 89 00:04:17,760 --> 00:04:20,800 Speaker 2: of pushes that April figure up just a little bit. 90 00:04:20,880 --> 00:04:23,240 Speaker 2: The bottom line, though, in all of this, there's no 91 00:04:23,320 --> 00:04:26,120 Speaker 2: economist out there. Bond tried it out there, trader out 92 00:04:26,120 --> 00:04:28,920 Speaker 2: there racing to say there won't be any more rate 93 00:04:28,960 --> 00:04:32,680 Speaker 2: cards in coming months on the back of yesterday's data. 94 00:04:32,800 --> 00:04:33,640 Speaker 2: Let's hope they're right. 95 00:04:33,800 --> 00:04:35,559 Speaker 1: Okay, so the door has been left open. 96 00:04:35,920 --> 00:04:38,000 Speaker 2: The door has been left open. In fact, I would 97 00:04:38,040 --> 00:04:41,600 Speaker 2: say it's widened. So it's not just a jargoning has widened, No, 98 00:04:41,760 --> 00:04:43,000 Speaker 2: a little more than a jarm. 99 00:04:42,960 --> 00:04:46,000 Speaker 1: Oh, here we go. How did the local market respond 100 00:04:46,080 --> 00:04:46,520 Speaker 1: to the news? 101 00:04:46,760 --> 00:04:48,760 Speaker 2: The share market jumped at the outset and response to 102 00:04:48,800 --> 00:04:51,320 Speaker 2: a really strong Knight on Wall Street, then it started 103 00:04:51,360 --> 00:04:54,800 Speaker 2: falling back. The slide ended with the release of the 104 00:04:54,880 --> 00:04:57,760 Speaker 2: late morning monthly CPI figures, and then it's sort of 105 00:04:57,880 --> 00:05:00,279 Speaker 2: traded flat. By the close the mark, it was a 106 00:05:00,279 --> 00:05:03,240 Speaker 2: touch lower at eighty three hundred and ninety seven points. 107 00:05:03,760 --> 00:05:06,240 Speaker 1: All right, can we talk politics now, Sean, because it's 108 00:05:06,240 --> 00:05:09,640 Speaker 1: been a massive twenty four hours. The coalition is back 109 00:05:09,680 --> 00:05:13,400 Speaker 1: together again after a fairly bumpy, bumpy week and a half. 110 00:05:13,440 --> 00:05:15,599 Speaker 2: It's like the band. The band's back together again. 111 00:05:15,640 --> 00:05:18,760 Speaker 1: They're back together and they're going on tour. It's allowing 112 00:05:19,120 --> 00:05:22,719 Speaker 1: Liberal Party leader Susan Lee. She's been able now to 113 00:05:22,720 --> 00:05:27,320 Speaker 1: announce her shadow cabinet, which includes interestingly demotions for Angus 114 00:05:27,360 --> 00:05:29,159 Speaker 1: Taylor and also Jane Hume. 115 00:05:30,040 --> 00:05:33,119 Speaker 2: So first to the coalition reforming. It was only apart 116 00:05:33,160 --> 00:05:34,800 Speaker 2: for a week, wasn't it a bit longer than a week? 117 00:05:35,760 --> 00:05:39,680 Speaker 2: Yesterday Lee and National's leader David little Proud reached in agreement, 118 00:05:40,240 --> 00:05:42,640 Speaker 2: as Lee said, we could share a steak and a 119 00:05:42,680 --> 00:05:46,440 Speaker 2: beer together. I mean, what other basis do you need 120 00:05:46,480 --> 00:05:48,400 Speaker 2: for a coalition than the fact that they can share 121 00:05:48,440 --> 00:05:49,599 Speaker 2: a steak and a beer together. 122 00:05:50,080 --> 00:05:54,080 Speaker 1: That's the foundations of a very very strong political marriage. 123 00:05:54,320 --> 00:05:57,640 Speaker 2: Yes, nuclear is obviously a big part of this, and 124 00:05:57,720 --> 00:06:00,280 Speaker 2: they said, I mean they didn't really commit anything on 125 00:06:00,400 --> 00:06:03,440 Speaker 2: nuclear yesterday. They said they're still discussing it under the 126 00:06:03,440 --> 00:06:07,359 Speaker 2: shadow cabinet. Of course, the coalition had to reform before 127 00:06:07,400 --> 00:06:10,720 Speaker 2: the cabinet could be announced. Former Finance Minister Jane Hume 128 00:06:10,920 --> 00:06:14,440 Speaker 2: was the biggest casualty dumped from the front bench. She 129 00:06:14,800 --> 00:06:17,360 Speaker 2: was a supporter of Angus Taylor for the leadership. She 130 00:06:17,560 --> 00:06:20,839 Speaker 2: also her performance in the election campaign was considered fairly 131 00:06:20,920 --> 00:06:23,839 Speaker 2: poor and so she's paid the price for those two things. 132 00:06:24,480 --> 00:06:26,800 Speaker 2: Just sent a number jimp A Price, who defected from 133 00:06:26,839 --> 00:06:29,360 Speaker 2: the Nationals two and a half weeks ago, to run 134 00:06:29,480 --> 00:06:32,680 Speaker 2: as Angus Taylor's deputy in the leadership ballot goes to 135 00:06:32,760 --> 00:06:37,599 Speaker 2: the Shadow Outer Ministry, while Taylor, who was held the 136 00:06:37,600 --> 00:06:42,440 Speaker 2: Treasury portfolio, he goes to Defense. So Price, Taylor, Hume 137 00:06:42,640 --> 00:06:45,839 Speaker 2: all demated. Deputy Leader Ted O'Brien was confirmed as the 138 00:06:45,960 --> 00:06:49,560 Speaker 2: new Shadow Treasurer. He'll be joined by Victorian Senator and 139 00:06:49,600 --> 00:06:52,960 Speaker 2: Conservative James Patterson as the Shadow Finance Minister. 140 00:06:53,480 --> 00:06:56,360 Speaker 1: And still on politics, the government's legislation push got it 141 00:06:56,440 --> 00:06:59,359 Speaker 1: a little bit easier yesterday after Labor secured a third 142 00:06:59,440 --> 00:07:03,040 Speaker 1: Senate spot in Victoria, which guarantees it now at least 143 00:07:03,320 --> 00:07:04,440 Speaker 1: twenty eight senators. 144 00:07:04,839 --> 00:07:07,320 Speaker 2: Combined with the Greens, the ALP will have control of 145 00:07:07,360 --> 00:07:10,240 Speaker 2: the upper house now. The Victorian result means Labour has 146 00:07:10,280 --> 00:07:12,680 Speaker 2: twenty eight seats the Greens have eleven, meaning the two 147 00:07:12,680 --> 00:07:15,040 Speaker 2: parties together thirty nine votes. That's what you need to 148 00:07:15,040 --> 00:07:18,040 Speaker 2: pass a bill in the Senate. Labour's already won an 149 00:07:18,040 --> 00:07:21,440 Speaker 2: extra Senate spot in both South Australia and Queensland. Good 150 00:07:21,520 --> 00:07:24,320 Speaker 2: chance to win an extra Senate spot in New South 151 00:07:24,360 --> 00:07:28,080 Speaker 2: Wales and perhaps even Western Australia. Those counts are being finalized. 152 00:07:28,080 --> 00:07:31,120 Speaker 2: It would give the Labor Party thirty Upper House seats. 153 00:07:31,320 --> 00:07:35,280 Speaker 2: It means legislation, for example, the high taxation of large 154 00:07:35,280 --> 00:07:39,520 Speaker 2: superannuation balances, which the Green support much more likely to pass. 155 00:07:39,840 --> 00:07:43,560 Speaker 2: That legislation, which is quite contentious, imposes a new fifteen 156 00:07:43,600 --> 00:07:48,400 Speaker 2: percent tax on the earnings of superannuation accounts valued at 157 00:07:48,440 --> 00:07:49,840 Speaker 2: over three million dollars. 158 00:07:50,480 --> 00:07:53,040 Speaker 1: All right, Sean, Now in a week's time, there's only 159 00:07:53,080 --> 00:07:57,240 Speaker 1: one week left to get your ticket. Tonight, Yeah to 160 00:07:57,280 --> 00:08:00,560 Speaker 1: our first ever live recording of Fear and Greed, the 161 00:08:00,560 --> 00:08:03,000 Speaker 1: Weekend Edition, which if you listen to the Weekend Edition 162 00:08:03,120 --> 00:08:04,760 Speaker 1: you know that it's a lot of fun. It is 163 00:08:04,800 --> 00:08:07,080 Speaker 1: a debate between the two of us with our colleague 164 00:08:07,080 --> 00:08:09,920 Speaker 1: Adam lang adjudicating over the big stories of the week. 165 00:08:09,960 --> 00:08:13,480 Speaker 1: We are doing it next Thursday nights, a week from today. 166 00:08:13,800 --> 00:08:18,360 Speaker 1: It coincides with the launch of my new novel called 167 00:08:18,400 --> 00:08:21,239 Speaker 1: All the Perfect Days, which is coming out next week. 168 00:08:21,480 --> 00:08:23,280 Speaker 1: So if you are in Sydney, and you would like 169 00:08:23,360 --> 00:08:27,520 Speaker 1: to come along to this. Well, it's a free double feature, really. 170 00:08:28,360 --> 00:08:30,600 Speaker 2: A free double feature that'll annie take an hour. Yeah, 171 00:08:30,640 --> 00:08:31,160 Speaker 2: that's the thing. 172 00:08:31,760 --> 00:08:34,680 Speaker 1: We've got the book launch and the weekend edition recording, 173 00:08:34,720 --> 00:08:36,720 Speaker 1: live recording on the Thursday night. I'll put a link 174 00:08:36,720 --> 00:08:38,640 Speaker 1: in today's show notes. Tickets are free and we would 175 00:08:38,640 --> 00:08:40,440 Speaker 1: love to see as many people there as we can 176 00:08:40,480 --> 00:08:43,960 Speaker 1: possibly cram into the venue in Sydney. All right, quick Breaksean. 177 00:08:44,000 --> 00:08:45,440 Speaker 1: We'll be back in a moment with the rest of 178 00:08:45,440 --> 00:08:56,640 Speaker 1: the day's business news Sean. Federal Labor has approved Woodside 179 00:08:56,840 --> 00:08:59,600 Speaker 1: Energy's bid to extend the life of its Northwest Shelf 180 00:08:59,640 --> 00:09:04,319 Speaker 1: Gaston development until twenty seventy amid pressure from environmentalists over 181 00:09:04,360 --> 00:09:05,120 Speaker 1: the project. 182 00:09:05,559 --> 00:09:08,640 Speaker 2: Environment Minister Murray what confirmed that the government intends to 183 00:09:08,679 --> 00:09:11,000 Speaker 2: allow for the extension of the massive project, subject to 184 00:09:11,080 --> 00:09:14,160 Speaker 2: environmental conditions. It's taken about seven years to get to 185 00:09:14,200 --> 00:09:16,960 Speaker 2: this point, with a project going through a plethora of 186 00:09:17,200 --> 00:09:21,240 Speaker 2: state and federal government approvals processes. Woodside now has just 187 00:09:21,360 --> 00:09:24,720 Speaker 2: a week to agree to the conditions. Let's say they do. 188 00:09:25,920 --> 00:09:28,360 Speaker 2: The plan, which is already more than thirty five years old, 189 00:09:28,720 --> 00:09:32,959 Speaker 2: will run till twenty seventy that's pretty impressive. It will 190 00:09:33,000 --> 00:09:35,559 Speaker 2: also allow the development of the brows gas Felds. Now, 191 00:09:35,600 --> 00:09:38,800 Speaker 2: what's in the protection of ancient indigenous Rockhart, which has 192 00:09:38,840 --> 00:09:43,239 Speaker 2: been at the center of a campaign against the project's extension. 193 00:09:44,000 --> 00:09:47,720 Speaker 2: What said that is critical to the government's conditional approval. 194 00:09:47,960 --> 00:09:51,080 Speaker 2: The decision sent Woodside's share price up four percent. 195 00:09:51,840 --> 00:09:56,240 Speaker 1: Mayer is set to extend its loyalty program SEAN, introducing 196 00:09:56,320 --> 00:10:00,719 Speaker 1: different tiers and eventually allowing members to spend our outside 197 00:10:00,960 --> 00:10:03,520 Speaker 1: the retailer's own network. This is interesting. 198 00:10:04,559 --> 00:10:06,280 Speaker 2: All our stories are interesting, Michael. 199 00:10:06,520 --> 00:10:10,559 Speaker 1: I'm sorry. I shouldn't cast judgment. This one is interesting, 200 00:10:10,760 --> 00:10:12,920 Speaker 1: the next one is not. No, they are all interesting. 201 00:10:13,040 --> 00:10:13,800 Speaker 1: Just take it as read. 202 00:10:13,840 --> 00:10:16,520 Speaker 2: That's right. Maya one has four point six million members 203 00:10:17,240 --> 00:10:18,840 Speaker 2: that have used the card in the past twelve months, 204 00:10:18,880 --> 00:10:24,040 Speaker 2: one of the largest loyalty programs around. Customers in mayle 205 00:10:24,160 --> 00:10:28,160 Speaker 2: one spend three times more than non members, so you 206 00:10:28,160 --> 00:10:31,600 Speaker 2: can imagine why the management of Meyer want more Maya 207 00:10:31,679 --> 00:10:35,880 Speaker 2: one members. Relatively New executive chair Olivia Worth, who formerly 208 00:10:36,000 --> 00:10:40,280 Speaker 2: ran Quantus's Frequent five programs, pushing the Maya one program. 209 00:10:40,559 --> 00:10:43,800 Speaker 2: She's announced that from August the program can be used 210 00:10:44,679 --> 00:10:47,560 Speaker 2: in the new brands that have been added to Meyer's network. 211 00:10:47,800 --> 00:10:51,320 Speaker 2: Remember Mya recently bought brands off Premier Investments, JJ's Jockie 212 00:10:51,559 --> 00:10:55,080 Speaker 2: E just gene some of those ones. By twenty twenty seven. 213 00:10:55,080 --> 00:10:57,679 Speaker 2: They'll also be the option to bank points and redeem 214 00:10:57,760 --> 00:11:02,319 Speaker 2: them outside the myerstore network. Says Mayer needs to attract new, 215 00:11:02,520 --> 00:11:05,720 Speaker 2: younger customers, and their loyalty program is a big part 216 00:11:05,800 --> 00:11:08,280 Speaker 2: of that. Also part of it an overhaul of its 217 00:11:08,280 --> 00:11:12,160 Speaker 2: apparel strategy and a reinvigorated beauty service including blow drys 218 00:11:12,200 --> 00:11:13,000 Speaker 2: and nail bars. 219 00:11:13,480 --> 00:11:16,640 Speaker 1: The best performing stock on the ASX yesterday Sean was 220 00:11:16,720 --> 00:11:21,240 Speaker 1: web Travel Groups, which no surprises for one day. Travel 221 00:11:21,280 --> 00:11:26,280 Speaker 1: company does a lot online, which jumped twelve percent. Great 222 00:11:26,360 --> 00:11:28,240 Speaker 1: day for web Travel Group after it posted a twenty 223 00:11:28,280 --> 00:11:30,960 Speaker 1: percent increase in bookings to the year to the end 224 00:11:31,000 --> 00:11:31,440 Speaker 1: of March. 225 00:11:31,640 --> 00:11:35,760 Speaker 2: Web Travel Group aggregates hotel rooms and sells bulk hotel rooms. 226 00:11:36,320 --> 00:11:38,920 Speaker 2: No I said bulk twice, then just came out sells 227 00:11:39,040 --> 00:11:42,520 Speaker 2: bulk hotel rooms to travel agents. It was recently spun 228 00:11:42,600 --> 00:11:45,240 Speaker 2: out of Webjet. The strong year to March continued into 229 00:11:45,280 --> 00:11:47,560 Speaker 2: April and May, hence the surgeon the share price. Yesterday, 230 00:11:47,640 --> 00:11:50,680 Speaker 2: Drake bookings were up twenty nine percent in the eight 231 00:11:50,720 --> 00:11:54,280 Speaker 2: weeks to Monday just passed. It's going against the trend 232 00:11:54,360 --> 00:11:56,400 Speaker 2: web travel because some of the other travel companies have 233 00:11:56,480 --> 00:11:59,000 Speaker 2: come out recently talking about a slight out in the 234 00:11:59,000 --> 00:12:02,160 Speaker 2: market higher but net profit was down twenty two percent 235 00:12:02,400 --> 00:12:04,880 Speaker 2: on the bank of high corporate costs and tighter margins. 236 00:12:05,160 --> 00:12:07,600 Speaker 1: Just while we're on the topic of stocks, Sean, our 237 00:12:07,640 --> 00:12:11,440 Speaker 1: friends at Osby's have a fantastic virtual event happening today 238 00:12:11,920 --> 00:12:14,760 Speaker 1: at twelve thirty. This is today, being Thursday at twelve 239 00:12:14,840 --> 00:12:18,080 Speaker 1: thirty today, it's called three Stocks four and you can 240 00:12:18,120 --> 00:12:22,880 Speaker 1: head along to Osby's dot co slash three numeral three. Basically, 241 00:12:22,880 --> 00:12:25,320 Speaker 1: Osby's brings together ten of the top fund managers to 242 00:12:25,320 --> 00:12:29,000 Speaker 1: each pitch their best stock ideas short sharp three ideas 243 00:12:29,040 --> 00:12:31,520 Speaker 1: in one quick session and it's free, So you can 244 00:12:31,559 --> 00:12:35,240 Speaker 1: register at Osby's dot co slash three. That's the numeral three. 245 00:12:35,440 --> 00:12:38,480 Speaker 1: Thursday today, twelve thirty pm. I'll put a link in 246 00:12:38,480 --> 00:12:41,040 Speaker 1: today's show notes as all so in our newsletter now. 247 00:12:41,160 --> 00:12:45,000 Speaker 1: Industrial property and data center Giant Goodman has warned that 248 00:12:45,040 --> 00:12:49,440 Speaker 1: the uncertain economic and trade environment is delaying customer decisions 249 00:12:49,480 --> 00:12:50,840 Speaker 1: in the logistics space. 250 00:12:51,440 --> 00:12:53,920 Speaker 2: The comments were made as a group confirmed its fuecast 251 00:12:53,920 --> 00:12:57,480 Speaker 2: financial year twenty twenty five operating earnings growth of nine percent. 252 00:12:57,520 --> 00:12:59,280 Speaker 2: Clean of companies out there would like to be able 253 00:12:59,320 --> 00:13:01,760 Speaker 2: to say we're getting earnings growth of nine percent. Goodman 254 00:13:01,840 --> 00:13:05,760 Speaker 2: now has thirteen point seven billion dollars of development work 255 00:13:05,800 --> 00:13:09,280 Speaker 2: in progress across sixty six projects. About half of that 256 00:13:09,720 --> 00:13:13,800 Speaker 2: are data centers. Chief executive Greg Goodman said notwithstanding the 257 00:13:13,800 --> 00:13:17,600 Speaker 2: current uncertainty, long term structural demand drivers are intact. He 258 00:13:17,720 --> 00:13:21,520 Speaker 2: said space in Goodman's markets is scarce and supply limited. 259 00:13:21,840 --> 00:13:25,000 Speaker 2: In the data center space, Goodman continues to see significant 260 00:13:25,280 --> 00:13:28,280 Speaker 2: capex growth from hyper scale operators as they work to 261 00:13:28,280 --> 00:13:31,040 Speaker 2: meet rising demand for cloud and AI services. 262 00:13:31,440 --> 00:13:33,440 Speaker 1: We've only got about thirty seconds before we get to 263 00:13:33,720 --> 00:13:37,560 Speaker 1: international news. Can you give us three corporate news headlines 264 00:13:37,720 --> 00:13:39,840 Speaker 1: in that thirty seconds? I've taken up five of that. 265 00:13:40,280 --> 00:13:42,840 Speaker 2: Okay. The board of US Outdoor Decking and Railings Group, 266 00:13:42,880 --> 00:13:46,079 Speaker 2: as xx tall shareholders, they should vote for the fourteen 267 00:13:46,120 --> 00:13:49,120 Speaker 2: billion dollar James Hardy bit one. Fisher and paycor share 268 00:13:49,120 --> 00:13:53,000 Speaker 2: price fell despite reporting a forty three percent jump in 269 00:13:53,120 --> 00:13:56,320 Speaker 2: net profit. Two. Eager's Automative said it's business is performing. 270 00:13:56,360 --> 00:13:58,400 Speaker 2: Head of expectations. Second half should be better than the 271 00:13:58,400 --> 00:14:00,160 Speaker 2: first half. Three. 272 00:14:00,440 --> 00:14:02,839 Speaker 1: You're very efficient. You had eight seconds left? 273 00:14:02,960 --> 00:14:05,520 Speaker 2: Is that right? Well? Please? You said that. Mineral Resources 274 00:14:05,760 --> 00:14:08,600 Speaker 2: Its share price dropped again after it cut its full 275 00:14:08,679 --> 00:14:11,120 Speaker 2: year guidance for iron ore production. Again. 276 00:14:11,600 --> 00:14:16,640 Speaker 1: Oh sean over deliver Alma well Blade. Turning to international 277 00:14:16,679 --> 00:14:21,680 Speaker 1: news now, SpaceX's Starship rocket suffered a leak, tumbled out 278 00:14:21,680 --> 00:14:24,440 Speaker 1: of control in space, and exploded during a test flight 279 00:14:24,560 --> 00:14:28,680 Speaker 1: yesterday morning, in a third straight major setback for Elon 280 00:14:28,800 --> 00:14:29,640 Speaker 1: Musk's company. 281 00:14:30,040 --> 00:14:33,640 Speaker 2: Very much one for you, Michael. The launch system, comprised 282 00:14:33,720 --> 00:14:37,600 Speaker 2: of the Starships or the Starship upper portion and its 283 00:14:37,640 --> 00:14:42,040 Speaker 2: super heavy booster the bottom portion, blew off the company's 284 00:14:42,080 --> 00:14:44,520 Speaker 2: launch pad in South Texas. It was viewed by about 285 00:14:44,520 --> 00:14:47,560 Speaker 2: one point one million people on X. A few minutes 286 00:14:47,560 --> 00:14:51,280 Speaker 2: into the flight, the recycled super heavy booster the bottom part, 287 00:14:51,320 --> 00:14:54,640 Speaker 2: separated from the Starship upper portion and fired its engines. 288 00:14:55,120 --> 00:14:59,000 Speaker 2: All going okay as it maneuvered itself into position and 289 00:14:59,040 --> 00:15:03,000 Speaker 2: started falling back to Earth. This is the booster. It 290 00:15:03,120 --> 00:15:07,840 Speaker 2: suffered an apparent problem and exploded, According to Bloomberg. Space 291 00:15:08,080 --> 00:15:10,680 Speaker 2: X then appeared to fall short of another key milestone 292 00:15:10,720 --> 00:15:13,480 Speaker 2: planned for the mission using Starship the top part to 293 00:15:13,480 --> 00:15:17,160 Speaker 2: deploy a slate of dummy satellite. Starship made it to space, 294 00:15:17,600 --> 00:15:21,240 Speaker 2: but launch commentators said the starship bay didn't open, cutting 295 00:15:21,280 --> 00:15:24,920 Speaker 2: the test short. It was coming back. Starship was coming 296 00:15:24,960 --> 00:15:27,560 Speaker 2: back the top part. About thirty five minutes into the mission. 297 00:15:28,760 --> 00:15:32,200 Speaker 2: It basically the livestream started to cut in and out. 298 00:15:32,560 --> 00:15:36,479 Speaker 2: Space X lost altitude and, as one commentator put it, 299 00:15:36,600 --> 00:15:38,960 Speaker 2: space X met its demise. 300 00:15:40,200 --> 00:15:43,080 Speaker 1: Yeah, that's a fairly grim end. And that would have 301 00:15:43,080 --> 00:15:45,520 Speaker 1: been one of the big the super heavy boosters that 302 00:15:45,520 --> 00:15:47,920 Speaker 1: they were going to recatch. Yes, you know the ones 303 00:15:47,920 --> 00:15:49,080 Speaker 1: that they snatched out of the air. 304 00:15:49,680 --> 00:15:53,400 Speaker 2: Yes, we should at some point, maybe don't We can 305 00:15:53,680 --> 00:15:55,520 Speaker 2: maybe in the news that we should actually get that 306 00:15:55,640 --> 00:15:58,080 Speaker 2: video of them recapturing it and putting it on fantastic. 307 00:15:58,360 --> 00:15:59,000 Speaker 2: It's amazing. 308 00:15:59,200 --> 00:16:01,960 Speaker 1: We will do that. That's a very good idea, Sean, Okay, 309 00:16:02,240 --> 00:16:04,640 Speaker 1: after the show, you have an interview coming up today. 310 00:16:05,120 --> 00:16:09,240 Speaker 1: I love this conversation. I really enjoyed listening to you 311 00:16:09,280 --> 00:16:12,920 Speaker 1: speaking with Dave Butler. Here's the co CEO of Dimensional 312 00:16:12,960 --> 00:16:13,920 Speaker 1: Fund Advisors. 313 00:16:14,600 --> 00:16:18,280 Speaker 2: So over in Australia. Texas is home for Dave. Interesting 314 00:16:18,360 --> 00:16:22,400 Speaker 2: character six foot nine was drafted by the Boston Celtics 315 00:16:22,520 --> 00:16:25,080 Speaker 2: in the mid eighties, didn't ever play for the Celtics, 316 00:16:25,120 --> 00:16:28,800 Speaker 2: but played international basketball in three countries. I think he 317 00:16:28,840 --> 00:16:31,040 Speaker 2: said in the end, anyway, he moved into funds management. 318 00:16:31,120 --> 00:16:32,720 Speaker 2: I did ask him which was more fun, and there 319 00:16:32,760 --> 00:16:34,320 Speaker 2: was like just a moment's silence. 320 00:16:34,680 --> 00:16:36,720 Speaker 1: Yep, the look on his face. Yeah, he said a lot, 321 00:16:36,760 --> 00:16:37,160 Speaker 1: didn't it. 322 00:16:37,240 --> 00:16:40,680 Speaker 2: Ah. Yeah, Anyway, we got beyond that. We were talking 323 00:16:40,760 --> 00:16:44,280 Speaker 2: about the noise of Donald Trump. How you invest when 324 00:16:44,320 --> 00:16:48,440 Speaker 2: there is so much noise around and which noise should 325 00:16:48,480 --> 00:16:52,120 Speaker 2: you listen to. He had a great piece of advice, 326 00:16:52,560 --> 00:16:55,800 Speaker 2: like a really simple piece of advice of how you 327 00:16:55,920 --> 00:16:59,400 Speaker 2: invest in this sort of world, and it's one that 328 00:16:59,520 --> 00:17:02,600 Speaker 2: I will remember for a long time because he didn't 329 00:17:02,720 --> 00:17:05,240 Speaker 2: just say ignore the noise. He was much more nuanced 330 00:17:05,240 --> 00:17:07,680 Speaker 2: than that. He was a great chat. 331 00:17:07,800 --> 00:17:10,399 Speaker 1: Yeah, certainly is, and I mean Dimensional Fund advised as 332 00:17:10,400 --> 00:17:12,479 Speaker 1: well as at one point three trillion dollars in our 333 00:17:12,520 --> 00:17:15,520 Speaker 1: sets under management, it is big. So it is worth 334 00:17:15,520 --> 00:17:17,360 Speaker 1: a listen just to hear what Dave has to say. 335 00:17:17,359 --> 00:17:18,880 Speaker 1: So that's coming up next in the Fear and Greed 336 00:17:18,880 --> 00:17:22,399 Speaker 1: playlist on your podcast platform or at Fearandgreed dot com 337 00:17:22,440 --> 00:17:24,159 Speaker 1: dot au, which is also where you sign up for 338 00:17:24,200 --> 00:17:25,320 Speaker 1: that free daily newsletter. 339 00:17:25,359 --> 00:17:26,879 Speaker 2: Thank you Sean, Thank you Michael. 340 00:17:27,000 --> 00:17:29,640 Speaker 1: It's Thursday, the twenty ninth of May twenty twenty five. 341 00:17:29,680 --> 00:17:32,800 Speaker 1: Make sure you're following the podcast and join us online LinkedIn, Instagram, 342 00:17:32,920 --> 00:17:35,199 Speaker 1: x TikTok and Facebook. I'm Michael Thompson. And that was 343 00:17:35,200 --> 00:17:36,760 Speaker 1: fear and greed. Have a great day.