1 00:00:06,200 --> 00:00:08,760 Speaker 1: Welcome to Fear and Greed business news you can use. 2 00:00:08,840 --> 00:00:11,760 Speaker 1: It is Monday, the fifteenth of December twenty twenty five. 3 00:00:11,880 --> 00:00:15,360 Speaker 1: I'm Michael Thompson and today Australia awakes to the horror 4 00:00:15,400 --> 00:00:18,320 Speaker 1: of a terrorist attack on a large crowd celebrating the 5 00:00:18,400 --> 00:00:21,640 Speaker 1: Jewish Hunniker Festival at Bondeo Beach in Sydney last evening. 6 00:00:22,120 --> 00:00:25,119 Speaker 1: At least twelve people have died, including one of the 7 00:00:25,120 --> 00:00:28,360 Speaker 1: two gunmen, and twenty nine people are injured, including two 8 00:00:28,400 --> 00:00:32,000 Speaker 1: police officers. Prime Minister Anthony Albernezi said it was a 9 00:00:32,040 --> 00:00:36,159 Speaker 1: targeted attack on Jewish Australians. He described it as an 10 00:00:36,200 --> 00:00:39,479 Speaker 1: act of evil antisemitism. Late last night, one of the 11 00:00:39,520 --> 00:00:44,000 Speaker 1: alleged gunmen was identified as Western Sydney bricklayer Navid Akram, 12 00:00:44,040 --> 00:00:48,760 Speaker 1: a twenty four year old. Several improvised explosive devices were 13 00:00:48,760 --> 00:00:52,640 Speaker 1: also removed by bomb disposal experts from a car parked 14 00:00:52,640 --> 00:00:56,000 Speaker 1: on Campbell Parade at Bondai Beach, which was linked to 15 00:00:56,120 --> 00:00:59,680 Speaker 1: the deceased gunman. The police operation extended to a street 16 00:00:59,720 --> 00:01:02,320 Speaker 1: in the world Western Sydney suburb of Bonnie Rig where 17 00:01:02,360 --> 00:01:06,839 Speaker 1: two people were arrested in connection to the Bondai shootings overnight. 18 00:01:06,920 --> 00:01:09,520 Speaker 1: There has been an outpouring of support for the Australian 19 00:01:09,600 --> 00:01:12,640 Speaker 1: Jewish community, from the Prime Minister to King Charles the 20 00:01:12,760 --> 00:01:16,960 Speaker 1: Third to ordinary citizens. Good morning, Sean Aylmer. This really 21 00:01:17,000 --> 00:01:20,680 Speaker 1: is a situation which most of us thought, certainly hoped 22 00:01:20,680 --> 00:01:22,600 Speaker 1: would never happen here in Australia. 23 00:01:22,840 --> 00:01:26,520 Speaker 2: Good morning Michael. Unfortunately terror has come to Sydney. In 24 00:01:26,600 --> 00:01:30,000 Speaker 2: all our thoughts with the victims, the families and all 25 00:01:30,000 --> 00:01:33,679 Speaker 2: those affected by the callous, senseless attack. It was a 26 00:01:33,680 --> 00:01:37,280 Speaker 2: horrible evening, the worst mass shooting in this country since 27 00:01:37,319 --> 00:01:40,120 Speaker 2: he put Arthur Massacre in nineteen ninety six. 28 00:01:40,840 --> 00:01:43,960 Speaker 1: Now this afternoon we'll have more details in the afternoon 29 00:01:44,040 --> 00:01:47,319 Speaker 1: report about the latest news on the attack. This is 30 00:01:47,360 --> 00:01:50,920 Speaker 1: certainly still developing and unfolding as we learn more about it. 31 00:01:51,680 --> 00:01:53,840 Speaker 1: In the meantime, this is what we're covering today. In 32 00:01:53,920 --> 00:01:57,680 Speaker 1: business news, the political expense scandal escalates as the Labor 33 00:01:57,720 --> 00:02:01,760 Speaker 1: government prepares for its midyear budget review. The housing market 34 00:02:01,880 --> 00:02:05,000 Speaker 1: takes a break on the back of potentially higher interest rates, 35 00:02:05,320 --> 00:02:07,840 Speaker 1: and former A and Z boss Shane Elliott sues the 36 00:02:07,840 --> 00:02:11,280 Speaker 1: bank's board after it withdrew thirteen point five million dollars 37 00:02:11,280 --> 00:02:14,639 Speaker 1: in bonuses plus the number of investors in ETFs in 38 00:02:14,680 --> 00:02:19,120 Speaker 1: Australia surgeres and a second division football club in England 39 00:02:19,200 --> 00:02:23,359 Speaker 1: attracts private equity. On with that Leeds story, there is 40 00:02:23,400 --> 00:02:26,639 Speaker 1: a big week in politics sewn with the expenses scandal 41 00:02:26,760 --> 00:02:29,680 Speaker 1: causing more trouble for the ALP and the federal government 42 00:02:29,720 --> 00:02:33,000 Speaker 1: due to release a budget update on Wednesday. Yesterday, Attorney 43 00:02:33,040 --> 00:02:37,679 Speaker 1: General Michelle Rowland commenced steps to repay taxpayers for part 44 00:02:37,720 --> 00:02:40,359 Speaker 1: of the sixteen thousand dollar trip she took to Perth 45 00:02:40,400 --> 00:02:43,000 Speaker 1: in twenty twenty three with her family. A spokesman for 46 00:02:43,080 --> 00:02:45,720 Speaker 1: MS Roland said she would make the repayment after the 47 00:02:45,760 --> 00:02:50,120 Speaker 1: Independent Parliamentary Expenses Authority found on Friday that her use 48 00:02:50,200 --> 00:02:53,280 Speaker 1: of family reunion entitlements didn't meet the rule. 49 00:02:53,480 --> 00:02:56,240 Speaker 2: Yes and that triggered calls by opposition parties for Roland 50 00:02:56,240 --> 00:02:59,120 Speaker 2: to step down, But yesterday treasure Jim Chalmers rejected the idea. 51 00:02:59,120 --> 00:03:01,000 Speaker 2: He said Roland had done the right thing asking the 52 00:03:01,040 --> 00:03:04,320 Speaker 2: independent Authority to check her expenses. National letter David little 53 00:03:04,320 --> 00:03:07,680 Speaker 2: Proud said family reunion entitlements to his tend sporting events 54 00:03:07,720 --> 00:03:10,040 Speaker 2: should be the first cup off the rank for banning 55 00:03:10,240 --> 00:03:13,600 Speaker 2: under any future change to the Parliamentary expenses scheme. 56 00:03:14,600 --> 00:03:18,480 Speaker 1: Away from the expenses scandal, the major new announcement yesterday 57 00:03:18,600 --> 00:03:22,639 Speaker 1: was a crackdown on supermarket price gouging and cashless sales. 58 00:03:23,240 --> 00:03:26,600 Speaker 2: The government will introduce new rules that prohibit supermarkets from 59 00:03:26,680 --> 00:03:30,200 Speaker 2: charging prices that are excessive when compared to the cost 60 00:03:30,240 --> 00:03:34,240 Speaker 2: of supply, along with a reasonable margin, so they can't 61 00:03:34,240 --> 00:03:37,520 Speaker 2: price gouge. Unclear how that will be regulated, though, Jim 62 00:03:37,600 --> 00:03:40,760 Speaker 2: Chalmers yesterday said the Australian Competition and Consumer Commission would 63 00:03:40,760 --> 00:03:43,680 Speaker 2: be handed an extra thirty million dollars to monitor compliance. 64 00:03:43,920 --> 00:03:47,560 Speaker 2: They'll also be forced to accept cash now many low 65 00:03:47,600 --> 00:03:51,960 Speaker 2: income people have used cash, and the government said they 66 00:03:52,000 --> 00:03:55,800 Speaker 2: will be forced to accept cash. An A Triple C 67 00:03:55,960 --> 00:03:59,000 Speaker 2: inquiry into Wollers and Calls earlier in the year actually 68 00:03:59,080 --> 00:04:00,760 Speaker 2: said show that there was no evidence that the two 69 00:04:00,840 --> 00:04:04,360 Speaker 2: supermarkets have been price gouging at all, and the fin 70 00:04:04,440 --> 00:04:07,520 Speaker 2: Review today is reporting that the submissions buy the two 71 00:04:07,520 --> 00:04:09,840 Speaker 2: big super markets saying, hey, these new rules actually going 72 00:04:09,880 --> 00:04:13,680 Speaker 2: to push up prices anyway, that as it may. That 73 00:04:13,800 --> 00:04:15,480 Speaker 2: was a big announcement yesterday. 74 00:04:15,720 --> 00:04:19,440 Speaker 1: And the MEDIAO Economic and Fiscal Outlook statement. My info 75 00:04:20,120 --> 00:04:24,240 Speaker 1: that'll be released on Wednesday. It's basically the half year 76 00:04:24,400 --> 00:04:26,320 Speaker 1: update to the budget, and there have been a few 77 00:04:26,400 --> 00:04:30,440 Speaker 1: leaks about what's in its, including much lower tobacco xcise 78 00:04:31,120 --> 00:04:35,440 Speaker 1: and consideration of scrapping the electric vehicle discount, which really 79 00:04:35,880 --> 00:04:38,400 Speaker 1: is a victim of its own success, right, it's been 80 00:04:38,440 --> 00:04:39,279 Speaker 1: too successful. 81 00:04:39,560 --> 00:04:41,840 Speaker 2: It's based to cost ninety million dollars this financially, it's 82 00:04:41,960 --> 00:04:45,080 Speaker 2: likely to cost one point three to five billion dollars. 83 00:04:46,360 --> 00:04:47,600 Speaker 1: I've actually I've looked at. 84 00:04:47,480 --> 00:04:49,880 Speaker 2: This and I'm now kicking myself because we need to 85 00:04:50,000 --> 00:04:54,160 Speaker 2: upgrade our car. And if you purchase an EV via 86 00:04:54,240 --> 00:04:57,159 Speaker 2: your business, so if I mean you and I own 87 00:04:57,160 --> 00:05:00,480 Speaker 2: out this business, So if we purchased it via the business, 88 00:05:01,120 --> 00:05:03,400 Speaker 2: you don't have to pay fringe benefit tax on it. 89 00:05:04,279 --> 00:05:07,880 Speaker 2: So the whole idea is that it's supposed to kickstart 90 00:05:07,880 --> 00:05:10,160 Speaker 2: the uptake of EV so you're paying it in pre 91 00:05:10,240 --> 00:05:12,800 Speaker 2: tax dollars, you're not paying fringe benefit tax on it. 92 00:05:13,160 --> 00:05:15,040 Speaker 2: The idea is, was it that kickstart the uptake of 93 00:05:15,480 --> 00:05:18,640 Speaker 2: v's Sure did go and cost one point three five 94 00:05:18,640 --> 00:05:20,919 Speaker 2: billion dollars. It's a really good deal, but you have 95 00:05:20,920 --> 00:05:22,400 Speaker 2: to get in really quick if you want to do it. 96 00:05:22,600 --> 00:05:24,640 Speaker 1: They haven't actually asked it yet. 97 00:05:24,480 --> 00:05:27,320 Speaker 2: No, they're considering it, But like, I wonder if you 98 00:05:27,360 --> 00:05:29,000 Speaker 2: can get an EV in the next three days, because 99 00:05:30,000 --> 00:05:31,440 Speaker 2: excellent Wednesday two. 100 00:05:31,320 --> 00:05:33,760 Speaker 1: Days is a very quick purchase of the Fear and 101 00:05:33,800 --> 00:05:34,440 Speaker 1: Greed fleet. 102 00:05:34,520 --> 00:05:37,960 Speaker 2: Maybe yes, yes, yes, yes. Treasury's estimated that almost one 103 00:05:38,040 --> 00:05:41,240 Speaker 2: hundred thousand vehicles have benefited from the exemption. I like 104 00:05:41,240 --> 00:05:43,880 Speaker 2: the way that Treasury says the vehicles have benefited the 105 00:05:43,920 --> 00:05:46,960 Speaker 2: owners have benefited from the exemption compared to the original 106 00:05:47,040 --> 00:05:51,120 Speaker 2: estimates of forty seven hundred. Also, the government will inject 107 00:05:51,120 --> 00:05:53,800 Speaker 2: five billion dollars into its Cheaper Homes battery program that 108 00:05:53,839 --> 00:05:56,159 Speaker 2: was introduced to encourage use for battery storage and homes. 109 00:05:56,240 --> 00:05:58,680 Speaker 2: That one's worked really well too first six months about 110 00:05:58,680 --> 00:06:00,880 Speaker 2: two and a half billion dollars take up, throwing in 111 00:06:01,000 --> 00:06:02,320 Speaker 2: at another five billion. 112 00:06:02,080 --> 00:06:02,720 Speaker 1: Dollars at that. 113 00:06:03,160 --> 00:06:05,919 Speaker 2: There also media reports that the plummeting sales of legal 114 00:06:05,960 --> 00:06:08,640 Speaker 2: tobacco would put a one billion dollar hole in the 115 00:06:08,720 --> 00:06:12,960 Speaker 2: budget via the lower xize. Ahead of the update yesterday, 116 00:06:13,040 --> 00:06:16,240 Speaker 2: Charmers said twenty billion dollars in cuts and reprioritizations will 117 00:06:16,279 --> 00:06:19,080 Speaker 2: be contained in the update. So I wouldn't be surprised 118 00:06:19,120 --> 00:06:21,560 Speaker 2: if there are things around evs and batteries and stuff 119 00:06:21,600 --> 00:06:23,839 Speaker 2: like that. But there'll also be twenty five billion dollars 120 00:06:23,839 --> 00:06:27,120 Speaker 2: worth of extra spending in areas around natural disasters through 121 00:06:27,240 --> 00:06:28,360 Speaker 2: to the age pension. 122 00:06:28,880 --> 00:06:32,800 Speaker 1: It's interesting with that ev policy because it is it 123 00:06:32,839 --> 00:06:36,920 Speaker 1: does show that when you get a policy good enough 124 00:06:37,040 --> 00:06:39,800 Speaker 1: essentially that it can work and can work spectacularly. And 125 00:06:39,839 --> 00:06:42,240 Speaker 1: so it almost shows all right, maybe it does need 126 00:06:42,279 --> 00:06:45,719 Speaker 1: to stop now because it exceeded the forecasts. But once 127 00:06:45,760 --> 00:06:49,960 Speaker 1: the infrastructure for EVS has caught up right and it 128 00:06:50,040 --> 00:06:53,160 Speaker 1: is more set up and that we've got the various 129 00:06:54,200 --> 00:06:56,360 Speaker 1: kind of all of the charging elements and all of that, 130 00:06:56,360 --> 00:06:58,760 Speaker 1: that there could be a reintroduction and it would really 131 00:06:58,839 --> 00:07:02,800 Speaker 1: kickstart that and get it moving. You've seen it it works. Yep. 132 00:07:03,000 --> 00:07:03,920 Speaker 2: Definitely agree with that. 133 00:07:04,640 --> 00:07:07,400 Speaker 1: ASX. Where do we finish up on Friday? Strong day? 134 00:07:07,440 --> 00:07:10,440 Speaker 2: On Friday is and P six two hundred finished up 135 00:07:10,440 --> 00:07:13,440 Speaker 2: more than one percent to just under eighty seven hundred points. 136 00:07:13,440 --> 00:07:17,000 Speaker 2: Goldstocks did very well thanks to a rising gold price. 137 00:07:17,480 --> 00:07:20,120 Speaker 2: How they be banks did well, see some inquiry did well. 138 00:07:21,440 --> 00:07:24,160 Speaker 2: The laggards included wes Ums, Telstrat and Woodside. 139 00:07:24,400 --> 00:07:27,480 Speaker 1: We need to make a quick mention of the Kook 140 00:07:27,680 --> 00:07:30,680 Speaker 1: Fear and Greed, the Weak Ahead, which comes up after 141 00:07:30,720 --> 00:07:33,720 Speaker 1: the show. It is we mentioned my IFO in it, 142 00:07:34,000 --> 00:07:37,440 Speaker 1: but really it's the year and review for the economy, 143 00:07:37,520 --> 00:07:39,960 Speaker 1: so it's a big one. We look back at everything 144 00:07:39,960 --> 00:07:41,920 Speaker 1: of the year and interest rates to the year and 145 00:07:41,960 --> 00:07:45,520 Speaker 1: inflation and everything in between. Because the Cook's not back 146 00:07:45,600 --> 00:07:48,800 Speaker 1: next week, because we're moving to the summer format of 147 00:07:48,840 --> 00:07:51,600 Speaker 1: Fear and Greed from next week for a few weeks. 148 00:07:51,840 --> 00:07:54,240 Speaker 1: New episodes every single day, but they're a little bit 149 00:07:54,280 --> 00:07:57,960 Speaker 1: shorter every single day throughout that period, so there'll be 150 00:07:58,160 --> 00:08:01,800 Speaker 1: heaps to listen to over Chris and New Year. But 151 00:08:02,280 --> 00:08:04,320 Speaker 1: the Kook will be back in the new year. We've 152 00:08:04,360 --> 00:08:07,000 Speaker 1: got week Ahead after today. All right, back in a 153 00:08:07,040 --> 00:08:16,080 Speaker 1: moment with the rest of the day's business news, Shawn. 154 00:08:16,120 --> 00:08:18,920 Speaker 1: The auction market is slowing down for the holiday season. 155 00:08:19,160 --> 00:08:22,400 Speaker 1: Just under three thousand homes went under the hammer across 156 00:08:22,440 --> 00:08:24,920 Speaker 1: the five capital cities over the past week, with a 157 00:08:24,920 --> 00:08:28,920 Speaker 1: preliminary clearance rate of just under sixty five percent. That 158 00:08:29,040 --> 00:08:31,520 Speaker 1: is the lowest rate since this time last year. 159 00:08:31,920 --> 00:08:35,280 Speaker 2: Exactly right. Melburn's rate held up reasonably well at almost 160 00:08:35,320 --> 00:08:38,760 Speaker 2: sixty six percent, Sydney fifty eight percent. What I thought 161 00:08:38,760 --> 00:08:41,760 Speaker 2: was really interesting if you go through the details. Brisbane 162 00:08:42,080 --> 00:08:45,120 Speaker 2: preliminary clearance rate of sixty percent, that's about what you'd 163 00:08:45,160 --> 00:08:49,679 Speaker 2: expect for that city. Higher median prices for houses one 164 00:08:49,679 --> 00:08:52,720 Speaker 2: point three million units eight hundred and thirty three thousand 165 00:08:53,240 --> 00:08:56,720 Speaker 2: then Sydney or any other city. So at the high end, 166 00:08:57,440 --> 00:09:01,480 Speaker 2: Brisbane is selling really well. Said that prices in both 167 00:09:01,480 --> 00:09:04,920 Speaker 2: Sydney and Melbourne have basically hit a wall. They rose 168 00:09:05,040 --> 00:09:08,160 Speaker 2: most of the year, they have flatlined over the past month. 169 00:09:09,200 --> 00:09:12,199 Speaker 2: Last week, Reserve Bank Governor Michelle Bullock said there will 170 00:09:12,240 --> 00:09:14,440 Speaker 2: be no lower or no interest rate cuts for the 171 00:09:14,520 --> 00:09:19,760 Speaker 2: foreseeable future. That will and truly slammed the brakes on 172 00:09:20,040 --> 00:09:22,800 Speaker 2: the housing market. It had happened the previous week and 173 00:09:22,800 --> 00:09:25,559 Speaker 2: probably the previous week before that too. When the whole 174 00:09:25,600 --> 00:09:27,160 Speaker 2: when are we going to get a rate cut shifted 175 00:09:27,160 --> 00:09:28,880 Speaker 2: to are we going to get a rate cut? Now? 176 00:09:28,920 --> 00:09:31,319 Speaker 2: It's like when's the next rate high? And you know, 177 00:09:31,440 --> 00:09:34,559 Speaker 2: to your point about the EVN incentives, interest rates are 178 00:09:34,559 --> 00:09:36,440 Speaker 2: incredible incentives for the housing market. 179 00:09:36,760 --> 00:09:39,960 Speaker 1: Yeah, yeah, we have seen that play out significantly this year. 180 00:09:40,440 --> 00:09:42,040 Speaker 1: I mentioned this next one at the top of the show. 181 00:09:42,080 --> 00:09:44,960 Speaker 1: Shawn former A and Z boss Shane Elliott is suing 182 00:09:45,000 --> 00:09:48,720 Speaker 1: his former employer after it stripped him of millions of 183 00:09:48,760 --> 00:09:52,679 Speaker 1: dollars in bonuses last month, citing failures across its retail 184 00:09:52,720 --> 00:09:54,280 Speaker 1: and institutional banking division. 185 00:09:54,720 --> 00:09:57,320 Speaker 2: Elliott claims he and A and ZED had a clear, 186 00:09:57,640 --> 00:10:01,760 Speaker 2: unambiguous agreement about the terms of his departure, then the board, 187 00:10:01,920 --> 00:10:05,280 Speaker 2: ed by Paulo Sullivan, decided to cancel his bonus. The 188 00:10:05,360 --> 00:10:08,360 Speaker 2: former bank boss filed the action late last week. According 189 00:10:08,360 --> 00:10:10,880 Speaker 2: to the fin Review, Elliot said he had entered into 190 00:10:10,920 --> 00:10:14,800 Speaker 2: a contract and expected its terms to be honored. In November, 191 00:10:14,840 --> 00:10:16,760 Speaker 2: A and Zed stripped long and short term and centers 192 00:10:16,760 --> 00:10:20,000 Speaker 2: of several management members. About thirty two million dollars went 193 00:10:20,040 --> 00:10:21,760 Speaker 2: by the wayside. Thirty and a half million of that 194 00:10:21,880 --> 00:10:24,040 Speaker 2: was due to Elliott. Ain Z agreed to pay two 195 00:10:24,080 --> 00:10:26,360 Speaker 2: hundred and forty million dollars to ASK after the corporate 196 00:10:26,360 --> 00:10:29,000 Speaker 2: regulator alleged many failings by the bank while Elliott was 197 00:10:29,040 --> 00:10:31,959 Speaker 2: chief executive. He was replaced in May by Nuna Mattos, 198 00:10:32,240 --> 00:10:35,800 Speaker 2: who has subsequently announced large job cuts. An ZED chair 199 00:10:35,800 --> 00:10:39,240 Speaker 2: O'Sullivan said the bank will fight Elliott's lawsuit. 200 00:10:40,080 --> 00:10:43,479 Speaker 1: The competition watchdog once Reform in the steved Or industry 201 00:10:43,800 --> 00:10:46,840 Speaker 1: sean across the country, saying companies are making billions of 202 00:10:46,840 --> 00:10:51,600 Speaker 1: dollars from high fees on containers of future furniture, clothes 203 00:10:51,720 --> 00:10:55,840 Speaker 1: and TVs, which ultimately are cost spawned by businesses and 204 00:10:56,400 --> 00:10:57,840 Speaker 1: logically consumers. 205 00:10:58,320 --> 00:11:01,280 Speaker 2: Maybe the government should push harder on the stevedoring industry 206 00:11:01,360 --> 00:11:05,040 Speaker 2: rather than the supermarkets, because we've done the whole supermarket 207 00:11:05,080 --> 00:11:08,599 Speaker 2: thing and it sounded really bad, but the atriple C 208 00:11:08,679 --> 00:11:10,840 Speaker 2: has looked into it. No price gouging, you know, whether 209 00:11:10,880 --> 00:11:13,000 Speaker 2: you like that result or not, that's what we've done. 210 00:11:13,440 --> 00:11:18,680 Speaker 2: But these guys Steve Dores, they've got excess capacity, but 211 00:11:18,760 --> 00:11:22,280 Speaker 2: the companies are making record profits with costs and productivity 212 00:11:22,440 --> 00:11:26,320 Speaker 2: remaining relatively stable. That's according to the Competition and Consumer 213 00:11:26,320 --> 00:11:29,559 Speaker 2: Commission the ACTUABC. Steven Doors are now charging a high 214 00:11:29,640 --> 00:11:32,679 Speaker 2: title price per container in real terms than at any 215 00:11:32,760 --> 00:11:36,439 Speaker 2: time since the CHABLEC began monitoring the container Steve during 216 00:11:36,559 --> 00:11:40,359 Speaker 2: industry twenty seven years ago. When you have access capacity, 217 00:11:41,040 --> 00:11:44,959 Speaker 2: it is very unusual to be able to charge a 218 00:11:45,040 --> 00:11:48,479 Speaker 2: higher price per container than any other time. HBLEC Commissioner 219 00:11:48,520 --> 00:11:51,360 Speaker 2: and a breaky. So the market is not operating the 220 00:11:51,360 --> 00:11:55,040 Speaker 2: way the watchdog expects it to operate. It's just not economics, Michael. 221 00:11:55,559 --> 00:11:58,600 Speaker 2: Australia's containing a Steve Doring industry is dominated by Patrick 222 00:11:58,640 --> 00:12:02,240 Speaker 2: and DP World of ours others though there's Victoria International 223 00:12:02,240 --> 00:12:05,160 Speaker 2: Container Terminal in Melbourn, Hutcheson Ports in Sydney and Brisbane 224 00:12:05,720 --> 00:12:08,640 Speaker 2: Flinder's Adelaide Container Terminal in South Australia. But the point 225 00:12:08,679 --> 00:12:10,880 Speaker 2: here is they don't really have the nuts and bolts 226 00:12:10,920 --> 00:12:12,760 Speaker 2: of it. But they're just looking at the industry saying, hm, 227 00:12:13,160 --> 00:12:14,800 Speaker 2: you guys are earning a lot of money when there's 228 00:12:14,800 --> 00:12:17,680 Speaker 2: all this excess capacity that's not really supply and demand. 229 00:12:18,200 --> 00:12:19,760 Speaker 1: I think the A Triple C should take them on 230 00:12:19,800 --> 00:12:22,120 Speaker 1: because Steve DAWs they're just a pushover, right, there's never 231 00:12:22,200 --> 00:12:27,240 Speaker 1: any kind of never, any disagreement or anything happy to 232 00:12:27,280 --> 00:12:31,400 Speaker 1: agree with. Yep, yep, yep. The number of ETF investors 233 00:12:31,400 --> 00:12:34,520 Speaker 1: in Australia SEAN has jumped twenty percent and is on 234 00:12:34,600 --> 00:12:39,040 Speaker 1: track to hit three million next year. This is this 235 00:12:39,120 --> 00:12:39,920 Speaker 1: has taken off. 236 00:12:40,480 --> 00:12:48,000 Speaker 2: Yeah. Exchange traded funds are by far the fastest growing 237 00:12:48,720 --> 00:12:51,800 Speaker 2: mass way for people to invest. The latest Britishares Investment 238 00:12:51,800 --> 00:12:54,800 Speaker 2: Trains ETF report found four hundred and eleven thousand Australians 239 00:12:54,840 --> 00:12:59,000 Speaker 2: started investing in ETFs in twenty twenty five, pretty phenomenal, 240 00:12:59,360 --> 00:13:01,760 Speaker 2: the second large annual increase since twenty twenty taking the 241 00:13:01,800 --> 00:13:05,480 Speaker 2: total number of investors to two point seven million. Bdshare 242 00:13:05,520 --> 00:13:09,520 Speaker 2: said cost effectiveness and diversification remained the dominant drivers of adoption. 243 00:13:09,960 --> 00:13:12,800 Speaker 2: International equities remained the top asset class. ETF investors is 244 00:13:12,880 --> 00:13:15,199 Speaker 2: expected to buy in twenty twenty six, with sixty five 245 00:13:15,200 --> 00:13:18,960 Speaker 2: percent indicating interests, followed by Australian equities at about sixty percent. 246 00:13:19,520 --> 00:13:23,160 Speaker 2: Those categories have already had attracted the highest inflows this year, 247 00:13:23,920 --> 00:13:29,079 Speaker 2: So if international ETFs seventeen point three billion dollars this year, 248 00:13:29,400 --> 00:13:32,560 Speaker 2: OSI equity is ten point six billion dollars, quite phenomenal. 249 00:13:32,600 --> 00:13:35,800 Speaker 2: Be to Shares expects ETF assets under management in Australia 250 00:13:35,880 --> 00:13:38,800 Speaker 2: to exceed five hundred billion dollars by the end of 251 00:13:38,840 --> 00:13:39,559 Speaker 2: twenty twenty eight. 252 00:13:40,200 --> 00:13:43,439 Speaker 1: Turning two international news now, US President Donald Trump has 253 00:13:43,559 --> 00:13:47,320 Speaker 1: vowed to retaliate against Islamic state after an attack in 254 00:13:47,400 --> 00:13:51,520 Speaker 1: Central Syria killed two US Army soldiers and a civilian 255 00:13:51,640 --> 00:13:52,400 Speaker 1: US interpreter. 256 00:13:52,920 --> 00:13:55,400 Speaker 2: It's the first American casualties in the country since the 257 00:13:55,440 --> 00:13:59,560 Speaker 2: fall of the dictator Bashah al Assad last year, I 258 00:13:59,679 --> 00:14:03,240 Speaker 2: quote mister Trump on social media, on truth social this 259 00:14:03,400 --> 00:14:06,160 Speaker 2: was an ISIS attack against the US and Syria in 260 00:14:06,200 --> 00:14:09,079 Speaker 2: a very dangerous part of Syria. There will be very 261 00:14:09,200 --> 00:14:13,320 Speaker 2: serious retaliation end quote. The soldiers were supporting canter terrorism 262 00:14:13,520 --> 00:14:17,400 Speaker 2: operations against the Islamic State group in Palmyra, a city 263 00:14:17,440 --> 00:14:20,560 Speaker 2: in central Syria, when they came under fire from a 264 00:14:20,640 --> 00:14:23,480 Speaker 2: lone gunman. According to The New York Times, Syrian security 265 00:14:23,520 --> 00:14:25,200 Speaker 2: forces subsequently killed the gunman. 266 00:14:26,320 --> 00:14:31,320 Speaker 1: Now one last one Sean private capital giant Apollo Global 267 00:14:31,440 --> 00:14:36,080 Speaker 1: Management has brought a minority stake in Wrexham AFC, the 268 00:14:36,240 --> 00:14:40,440 Speaker 1: once sleepy Welsh football club whose fortunes and global profile 269 00:14:40,880 --> 00:14:45,440 Speaker 1: have just transformed entirely under the ownership of Hollywood actors 270 00:14:45,560 --> 00:14:48,800 Speaker 1: Ryan Reynolds and Rob macilhenny, who is now known as 271 00:14:48,920 --> 00:14:51,040 Speaker 1: just Rob mack because no one's ever able to pronounce 272 00:14:51,080 --> 00:14:51,600 Speaker 1: his surname. 273 00:14:52,040 --> 00:14:54,560 Speaker 2: That's exactly right, this story. I mean, you know, we 274 00:14:54,600 --> 00:14:56,640 Speaker 2: probably know, but it's such a good story. So Rerexham 275 00:14:56,640 --> 00:14:59,520 Speaker 2: said the investment would include financing to redevelop the racecourse 276 00:14:59,560 --> 00:15:03,240 Speaker 2: ground roughly thirteen thousand capacity stadium aligned with long term 277 00:15:03,240 --> 00:15:06,240 Speaker 2: growth strategy blah blah blah, All that's good. Terms of 278 00:15:06,280 --> 00:15:09,600 Speaker 2: the deals with Apollo were not disclosed, but Reynolds and 279 00:15:09,640 --> 00:15:13,600 Speaker 2: Mac will remain as controlling shareholders. According to the FT, Rexham, 280 00:15:13,680 --> 00:15:16,640 Speaker 2: one of four Welsh teams that play in the English leagues, 281 00:15:17,240 --> 00:15:20,320 Speaker 2: has enjoyed somewhat stunning upturn in fortunes since it was 282 00:15:20,720 --> 00:15:23,560 Speaker 2: bought in twenty twenty one by the Hollywood actors. The 283 00:15:23,720 --> 00:15:28,000 Speaker 2: pair acquired Rexham for two million pounds while I was 284 00:15:28,040 --> 00:15:31,200 Speaker 2: playing in the fifth tier, produced a documentary series, Welcome 285 00:15:31,240 --> 00:15:33,760 Speaker 2: to Rexham Cracking. If you haven't seen it, you should 286 00:15:33,800 --> 00:15:38,320 Speaker 2: watch it. Disney played it, charting the fortune their fortunes 287 00:15:38,360 --> 00:15:40,840 Speaker 2: as owners. The success of the series and the proyofilo 288 00:15:40,840 --> 00:15:43,480 Speaker 2: of Rexham owners has cushed both of the club onto 289 00:15:43,480 --> 00:15:46,080 Speaker 2: the global stage. Last year, it sold about one hundred 290 00:15:46,120 --> 00:15:49,520 Speaker 2: thousand replica shirts, half of which went to overseas fans. 291 00:15:49,720 --> 00:15:52,400 Speaker 2: The club has been promoted in three consecutive seasons, going 292 00:15:52,400 --> 00:15:55,120 Speaker 2: from non league football to the EFL Championship, the tier 293 00:15:55,160 --> 00:15:58,680 Speaker 2: below the Premier League, and now private Ecuative decided well 294 00:15:59,000 --> 00:16:02,840 Speaker 2: it's worth buying into it. I'm sure mister Mac and 295 00:16:02,920 --> 00:16:06,840 Speaker 2: mister Reynolds have made themselves a mos up. 296 00:16:07,080 --> 00:16:09,760 Speaker 1: Up next is Fear and Greed Q and A. It 297 00:16:09,800 --> 00:16:12,280 Speaker 1: is the week ahead, or rather the year in review 298 00:16:12,320 --> 00:16:14,880 Speaker 1: with our resident economist, Stephen Colculus. It is coming up 299 00:16:14,920 --> 00:16:16,920 Speaker 1: next to the Fear and Greed playlist on your podcast 300 00:16:16,920 --> 00:16:19,680 Speaker 1: platform or at Fearandgreed dot com doodau, which is where 301 00:16:19,760 --> 00:16:23,560 Speaker 1: you also subscribe to our free daily newsletter. Thank you, Sean. 302 00:16:23,880 --> 00:16:24,520 Speaker 2: Thanks Michael. 303 00:16:24,640 --> 00:16:27,840 Speaker 1: It's Monday, the fifteenth of December twenty twenty five. Make 304 00:16:27,840 --> 00:16:30,200 Speaker 1: sure you're following the podcast and please join us online 305 00:16:30,200 --> 00:16:34,160 Speaker 1: on LinkedIn, Instagram, x TikTok and Facebook. I'm Michael Thompson. 306 00:16:34,280 --> 00:16:35,240 Speaker 1: That was Fear and Greed. 307 00:16:35,520 --> 00:16:36,200 Speaker 2: Have a great day.