1 00:00:06,200 --> 00:00:09,200 Speaker 1: Welcome to Fear and Greed business news you can use today. 2 00:00:09,200 --> 00:00:12,479 Speaker 1: Prime Minister Anthony Aberzi says the massacre at Bondi Beach 3 00:00:12,520 --> 00:00:17,120 Speaker 1: on Sunday was inspired by terrorist group ISIS. Consumer confidence 4 00:00:17,160 --> 00:00:21,320 Speaker 1: takes a tumble, and Google considers becoming an online property seller. 5 00:00:21,600 --> 00:00:25,599 Speaker 1: Plus a precedent setting work from home case is overturned, 6 00:00:25,880 --> 00:00:29,200 Speaker 1: and the Nasdaq wants to trade twenty three hours a day. 7 00:00:29,360 --> 00:00:32,280 Speaker 1: It is Wednesday, the seventeenth of December twenty twenty five. 8 00:00:32,520 --> 00:00:34,800 Speaker 1: I'm Michael Thompson and good morning, Sean Aylmer. 9 00:00:35,040 --> 00:00:36,600 Speaker 2: Good morning, Michael, Sean. 10 00:00:36,680 --> 00:00:39,280 Speaker 1: The main story this morning, the attack on Bondi Beach 11 00:00:39,320 --> 00:00:42,480 Speaker 1: on Sunday, appears to have been inspired by terrorist group 12 00:00:42,560 --> 00:00:46,279 Speaker 1: Islamic State. According to Prime Minister Anthony Alberanesi. 13 00:00:46,080 --> 00:00:48,800 Speaker 2: The two gunmen travel to the Philippines, known as a 14 00:00:48,840 --> 00:00:52,000 Speaker 2: home to extremist groups, a month before they staged the 15 00:00:52,040 --> 00:00:56,240 Speaker 2: Bondai massacre. In their vehicle on Sunday, police found two 16 00:00:56,280 --> 00:01:02,680 Speaker 2: homemade ISIS flags and ied. Australian Federal Police Commissioner Chrissy 17 00:01:02,760 --> 00:01:05,840 Speaker 2: Barrett said an AFP investigation had found the massacre was 18 00:01:05,880 --> 00:01:09,880 Speaker 2: the and quote alleged actions of those who align themselves 19 00:01:09,920 --> 00:01:14,560 Speaker 2: with a terrorist organization, not a religion end quote. She 20 00:01:14,720 --> 00:01:17,640 Speaker 2: said there was no third gunman and it appears that 21 00:01:17,680 --> 00:01:20,959 Speaker 2: the alleged killers were only interested in a death tally 22 00:01:21,400 --> 00:01:23,200 Speaker 2: Like October seven to twenty three. 23 00:01:23,920 --> 00:01:27,840 Speaker 1: The Federal government is under a lot of pressure now, 24 00:01:27,959 --> 00:01:31,360 Speaker 1: both at home and from abroad, to do more than 25 00:01:31,440 --> 00:01:34,720 Speaker 1: introduced tougher gun laws. There are widespread calls to crack 26 00:01:34,760 --> 00:01:38,479 Speaker 1: down on antisemitism, and there is a flood of criticism 27 00:01:38,600 --> 00:01:41,240 Speaker 1: of Anthony Alberezi, with claims that he hasn't done enough. 28 00:01:41,920 --> 00:01:46,479 Speaker 2: The federal government's own anti Semitism envoy, Gillian Siegel, has 29 00:01:46,760 --> 00:01:50,120 Speaker 2: urged the government to deal with the underlying cause of antisemitism, 30 00:01:50,200 --> 00:01:53,600 Speaker 2: calling for action rather than just saying let's come together. 31 00:01:53,880 --> 00:01:56,320 Speaker 2: She said the Alberanzi government could have acted further and 32 00:01:56,400 --> 00:02:00,639 Speaker 2: faster to prevent anti Semitism. Former Prime Minister John Howard 33 00:02:00,720 --> 00:02:04,880 Speaker 2: visited Bondai yesterday and said the government's antagonistic behavior towards 34 00:02:04,920 --> 00:02:08,400 Speaker 2: the Jewish community had led to the spread of anti Semitism. 35 00:02:08,440 --> 00:02:11,120 Speaker 2: He said it was the first responsibility of a prime 36 00:02:11,160 --> 00:02:15,600 Speaker 2: minister to protect Australian's domestically. There were more extreme views 37 00:02:15,639 --> 00:02:19,520 Speaker 2: on migration and the performance of Alberanesi pushed by more 38 00:02:19,760 --> 00:02:24,480 Speaker 2: rebel mp so Bob Catter was one One Nation's Pauline Hansen, 39 00:02:25,080 --> 00:02:28,440 Speaker 2: current National Party member soon to be One Nation member 40 00:02:28,480 --> 00:02:32,480 Speaker 2: Barnaby Joyce. He was with Pauline Hanson yesterday and they 41 00:02:32,480 --> 00:02:34,320 Speaker 2: were very critical of Anthony Alberanzi. 42 00:02:35,000 --> 00:02:39,400 Speaker 1: Now six people remain in critical condition, while another twenty 43 00:02:39,480 --> 00:02:42,400 Speaker 1: five are in hospital. The death toll remains at fifteen 44 00:02:42,520 --> 00:02:46,760 Speaker 1: plus the shooter, serjd Akram. But amid the grief, Sean, 45 00:02:46,800 --> 00:02:50,560 Speaker 1: there have been some very human stories really, some incredible 46 00:02:50,600 --> 00:02:55,000 Speaker 1: bravery and some touching acts of kindness as well. 47 00:02:55,160 --> 00:02:57,680 Speaker 2: Yes, so Ahmed al Ahmed, the man who fought and 48 00:02:57,760 --> 00:03:03,160 Speaker 2: darmed one gunman, remained in hospital. He has been speaking though, 49 00:03:04,240 --> 00:03:08,160 Speaker 2: and let's hope that he does recover as well as 50 00:03:08,200 --> 00:03:08,440 Speaker 2: he can. 51 00:03:08,480 --> 00:03:11,280 Speaker 1: I suppose he's had a string of visitors as well. 52 00:03:11,320 --> 00:03:14,679 Speaker 1: I know that the new South Wales Premier visited him, 53 00:03:14,840 --> 00:03:18,280 Speaker 1: the Prime Minister visited him yesterday, The Governor General was 54 00:03:18,280 --> 00:03:22,480 Speaker 1: there yesterday yesterday afternoon. So everyone has been visiting him 55 00:03:22,720 --> 00:03:23,720 Speaker 1: to thank him in person. 56 00:03:24,320 --> 00:03:26,120 Speaker 2: The poor fellow probably just needs a good sleep. I 57 00:03:26,120 --> 00:03:28,760 Speaker 2: don't he go fund me page for him Michael, you 58 00:03:28,760 --> 00:03:30,200 Speaker 2: were telling me, was it two million dollars? 59 00:03:30,200 --> 00:03:33,239 Speaker 1: A yek, Yeah, yeah, it had sailed. Last time I 60 00:03:33,320 --> 00:03:36,080 Speaker 1: checked was yesterday afternoon and it was well past the 61 00:03:36,120 --> 00:03:39,600 Speaker 1: two million dollar mark, which is just an incredible response 62 00:03:39,720 --> 00:03:42,000 Speaker 1: from just ordinary people right around the world. 63 00:03:42,440 --> 00:03:44,560 Speaker 2: The person I've wondered about the man and the footage 64 00:03:44,560 --> 00:03:48,200 Speaker 2: will hurled an object at the gunman after he was 65 00:03:48,360 --> 00:03:51,760 Speaker 2: de armed. His name was Ruven Morrison, a sixty two 66 00:03:51,840 --> 00:03:54,160 Speaker 2: year old. He died in the attack, which is very 67 00:03:54,160 --> 00:03:58,880 Speaker 2: sad but incredible bravery from mister Morrison. There's footage of 68 00:03:58,920 --> 00:04:04,680 Speaker 2: two unidentified bystanders wrestling with Sajid Akram, the father, as 69 00:04:04,680 --> 00:04:06,880 Speaker 2: he got out of his car before the shooting began. 70 00:04:07,560 --> 00:04:12,400 Speaker 2: The pair were shown this wrestle. It seems that they 71 00:04:12,400 --> 00:04:15,600 Speaker 2: probably died moments later on the footpath. They were probably 72 00:04:15,600 --> 00:04:19,160 Speaker 2: the first two people to die in the massacre. Incredible 73 00:04:19,160 --> 00:04:23,640 Speaker 2: work from Bondi lifeguards, from medical staff, from police. Chris 74 00:04:23,640 --> 00:04:26,040 Speaker 2: Min's The State premieres that I stood up for police 75 00:04:26,080 --> 00:04:30,640 Speaker 2: after questioning about them and since he attacked record blood donations. 76 00:04:30,680 --> 00:04:33,400 Speaker 2: According to Australian Red Cross, life by the insurance industry 77 00:04:33,480 --> 00:04:36,320 Speaker 2: is kind of doing the right thing. Some of the 78 00:04:36,360 --> 00:04:40,880 Speaker 2: councils in the area I noticed providing money for small business. 79 00:04:41,080 --> 00:04:43,240 Speaker 2: I noticed one of the flower shops down at BONDI 80 00:04:43,560 --> 00:04:47,080 Speaker 2: just put out flowers out the front on the street, 81 00:04:47,480 --> 00:04:49,520 Speaker 2: so that anyone that wanted could just take a bunch 82 00:04:49,560 --> 00:04:53,320 Speaker 2: of flowers and place them down at the site without 83 00:04:53,320 --> 00:04:56,520 Speaker 2: actually charging anyone, which I thought was incredibly touching. 84 00:04:56,560 --> 00:05:01,440 Speaker 1: Really, yeah, the the acts of kindness, those really kind 85 00:05:01,480 --> 00:05:03,919 Speaker 1: of human stories that emerge after a tragedy like this. 86 00:05:04,200 --> 00:05:08,000 Speaker 1: It is really quite something, isn't it, Sean Really is okay? 87 00:05:09,120 --> 00:05:11,760 Speaker 1: Moving to the local market, now, let's take a look 88 00:05:11,800 --> 00:05:13,560 Speaker 1: at the AX. How did it go yesterday? 89 00:05:13,800 --> 00:05:16,920 Speaker 2: There's some PAX two hundred closed down almost half percent 90 00:05:16,960 --> 00:05:19,240 Speaker 2: to just under eighty six hundred points. Tech stocks and 91 00:05:19,320 --> 00:05:21,960 Speaker 2: energy companies led the market lower, while the industrial's index 92 00:05:22,160 --> 00:05:24,840 Speaker 2: was the best of the sub indices. Among the large caps, 93 00:05:25,080 --> 00:05:28,760 Speaker 2: only three of the top fifteen stocks, Macquarie, Rio and Transurban, 94 00:05:28,920 --> 00:05:31,400 Speaker 2: ended the day in the black. The rest, led by 95 00:05:31,440 --> 00:05:34,719 Speaker 2: Forteskew Metals and Woodside, ended lower. The fact that twelve 96 00:05:34,720 --> 00:05:36,560 Speaker 2: with the fifteen ended lower but the market was only 97 00:05:36,600 --> 00:05:38,719 Speaker 2: down zero point four percent, suggests that there's not a 98 00:05:38,760 --> 00:05:41,640 Speaker 2: huge amount going on in corporate news, Aurica said the 99 00:05:41,760 --> 00:05:45,440 Speaker 2: twenty twenty six financially has started strongly with ongoing demand 100 00:05:45,440 --> 00:05:47,760 Speaker 2: for commercial explosives and blasting products. 101 00:05:48,360 --> 00:05:51,320 Speaker 1: What about global markets, What's going on elsewhere in the world. 102 00:05:51,600 --> 00:05:54,719 Speaker 2: All prices are lower, with Brent back down to sixty 103 00:05:54,800 --> 00:05:57,440 Speaker 2: US dollars a barrel. That's the lowest since May. We 104 00:05:57,480 --> 00:06:00,280 Speaker 2: should feel that in the petrol bowser soon and I'm 105 00:06:00,320 --> 00:06:03,800 Speaker 2: sure Diesel will be the same. Michael. Maybe maybe Gold's 106 00:06:03,839 --> 00:06:06,320 Speaker 2: training at just under forty three hundred US dollars announced 107 00:06:06,320 --> 00:06:08,560 Speaker 2: the Ausie dollars buying sixty six point three US sins. 108 00:06:08,680 --> 00:06:11,360 Speaker 2: Cryptocurrencies have fallen back there, bit coins now below eighty 109 00:06:11,360 --> 00:06:13,640 Speaker 2: five thousand US dollars a unit. I'd sort of taken 110 00:06:13,640 --> 00:06:16,560 Speaker 2: my eye off it, and when I saw it last night, 111 00:06:16,640 --> 00:06:19,920 Speaker 2: I thought, wow, that has really fallen back. The market 112 00:06:20,000 --> 00:06:23,200 Speaker 2: leads now down thirty percent from its record high a 113 00:06:23,200 --> 00:06:25,400 Speaker 2: few months back of one hundred and twenty six thousand 114 00:06:25,480 --> 00:06:28,279 Speaker 2: US dollars a unit. So quite the comedown for bitcoin. 115 00:06:28,640 --> 00:06:30,920 Speaker 1: Indeed, all right, plenty is still to come. We'll be 116 00:06:30,960 --> 00:06:32,440 Speaker 1: back in a moment with the rest of the day's 117 00:06:32,480 --> 00:06:43,560 Speaker 1: business news. Seawan a surge in consumer confidence has proven 118 00:06:43,800 --> 00:06:47,520 Speaker 1: somewhat short lived, with sentiment tumbling as expect as the 119 00:06:47,760 --> 00:06:50,760 Speaker 1: expectations really of rate cuts that we all shared for 120 00:06:50,800 --> 00:06:52,600 Speaker 1: a while. There they've receded now. 121 00:06:52,960 --> 00:06:56,880 Speaker 2: The west Pac Melbourne Institute reading jumped last month. Now 122 00:06:56,880 --> 00:06:58,839 Speaker 2: it's back to ninety four point five points. That means 123 00:06:58,839 --> 00:07:01,919 Speaker 2: there are more pessimous than optimists, although the number is 124 00:07:01,960 --> 00:07:04,680 Speaker 2: higher than twelve months ago. If consumers a confident, they 125 00:07:04,680 --> 00:07:07,000 Speaker 2: tend to spend more money, which is a beneficial effect 126 00:07:07,040 --> 00:07:09,279 Speaker 2: on overall economic growth. That's why we like to see 127 00:07:09,320 --> 00:07:12,560 Speaker 2: consumer confidence higher than what it is that a kin 128 00:07:12,640 --> 00:07:15,720 Speaker 2: this month reflects a more subdued outlook for the economy. 129 00:07:15,720 --> 00:07:18,680 Speaker 2: It also suggests the cost of living crisis isn't over yet, 130 00:07:19,080 --> 00:07:22,000 Speaker 2: with positive responses to the highly watched is now a 131 00:07:22,000 --> 00:07:26,320 Speaker 2: good time to buy a major household item falling much lower. 132 00:07:26,480 --> 00:07:28,120 Speaker 2: There was also a drop in people saying now is 133 00:07:28,120 --> 00:07:30,280 Speaker 2: a good time to buy a house or a dwelling, 134 00:07:30,600 --> 00:07:32,960 Speaker 2: presumably reflecting interest rates. 135 00:07:34,520 --> 00:07:38,240 Speaker 1: Federal Treasurer Jim Chalmers is expected to release the federal 136 00:07:38,280 --> 00:07:40,320 Speaker 1: government's media budget update today Sean. 137 00:07:41,000 --> 00:07:44,040 Speaker 2: It's expected to show higher revenue thanks to strong commodity prices, 138 00:07:44,120 --> 00:07:47,640 Speaker 2: high and higher capital gains tax, but also higher spending. 139 00:07:47,680 --> 00:07:50,200 Speaker 2: The budget deficit this financial is tipped came in around 140 00:07:50,240 --> 00:07:53,120 Speaker 2: thirty three billion US dollars. Would be interesting to see 141 00:07:53,120 --> 00:07:57,560 Speaker 2: what their economic forecasts say. National Australia Banking Commonwealth Bank 142 00:07:57,640 --> 00:08:02,000 Speaker 2: yesterday both forecast and interest hike as soon as February, 143 00:08:02,280 --> 00:08:05,480 Speaker 2: which pretty interesting. NAB chief economist Sally Old said the 144 00:08:05,520 --> 00:08:08,560 Speaker 2: combination of stronger growth outcomes and the evidence of capacity 145 00:08:08,800 --> 00:08:11,960 Speaker 2: constraints would force a rate hike in February and one 146 00:08:12,000 --> 00:08:15,280 Speaker 2: in May. Come Off Banks forecasts just one increase next year. 147 00:08:15,400 --> 00:08:17,560 Speaker 2: A Zed reckons things will be on hold. Westpac is 148 00:08:17,600 --> 00:08:19,880 Speaker 2: still forecasting a rate cut now. 149 00:08:19,920 --> 00:08:24,480 Speaker 1: This next one's really interesting, Sean. Google is testing home 150 00:08:24,760 --> 00:08:28,080 Speaker 1: for sale ads at the top of search results, effectively 151 00:08:28,120 --> 00:08:32,280 Speaker 1: becoming pretty much an online real estate agency, and that 152 00:08:32,360 --> 00:08:35,600 Speaker 1: decision has sent the share price of online property groups lower. 153 00:08:36,080 --> 00:08:40,720 Speaker 2: That's right, So US online estate agent share prices tumble 154 00:08:40,840 --> 00:08:42,720 Speaker 2: as well as some of the local guys. So Aria 155 00:08:42,800 --> 00:08:44,559 Speaker 2: dot com is a big one now now that domains 156 00:08:44,559 --> 00:08:47,320 Speaker 2: been taken over by co Star. The RAA dot com 157 00:08:47,360 --> 00:08:50,760 Speaker 2: tumbled three percent in the US. At least, Google's real 158 00:08:50,840 --> 00:08:53,920 Speaker 2: estate listings include all sorts of things like the number 159 00:08:53,920 --> 00:08:57,520 Speaker 2: of bedrooms, bathrooms, square footage, the year a home was built, 160 00:08:57,559 --> 00:09:00,480 Speaker 2: available parking, all that sort of stuff. Each list also 161 00:09:00,520 --> 00:09:02,560 Speaker 2: features the option to directly reach out to a real 162 00:09:02,640 --> 00:09:05,280 Speaker 2: estate agent. Users can also schedule a call with the 163 00:09:05,320 --> 00:09:08,920 Speaker 2: agent directly on a Google's listing. Google's got a similar 164 00:09:08,920 --> 00:09:11,679 Speaker 2: feature for restaurants that allow uses the book of reservation 165 00:09:12,120 --> 00:09:15,560 Speaker 2: on the search results page. It just shows how, particularly 166 00:09:15,679 --> 00:09:19,960 Speaker 2: using AI for some of these functionality, Google can really 167 00:09:20,280 --> 00:09:22,880 Speaker 2: kind of it's gonna say, infiltrate that's probably being a 168 00:09:22,880 --> 00:09:26,720 Speaker 2: bit mean, but be part of your everyday life. Yeah. 169 00:09:26,800 --> 00:09:29,720 Speaker 1: And so is it just through the main kind of 170 00:09:29,720 --> 00:09:33,120 Speaker 1: Google search home page or is it through say Google 171 00:09:33,200 --> 00:09:36,880 Speaker 1: Maps and things, because maps is obviously such a big 172 00:09:36,960 --> 00:09:39,839 Speaker 1: resource for them, and you could see those that data 173 00:09:39,880 --> 00:09:42,520 Speaker 1: being overlaid with the map data quite quite easily. 174 00:09:42,920 --> 00:09:44,360 Speaker 2: Very true. I mean, at the moment it's actually just 175 00:09:44,400 --> 00:09:48,840 Speaker 2: search pages. I suggest that to Google. NICKI T has 176 00:09:48,840 --> 00:09:50,559 Speaker 2: got a great idea. How about this, Just. 177 00:09:50,559 --> 00:09:54,120 Speaker 1: Drop them the note Sean, it's been a roller coaster 178 00:09:54,320 --> 00:09:57,920 Speaker 1: ride from defense technology company Drone Shield. We've been talking 179 00:09:57,960 --> 00:10:00,720 Speaker 1: about this for a while that it just keeps on going. Right. 180 00:10:00,800 --> 00:10:05,160 Speaker 1: It's share price surged twenty three percent yesterday after it 181 00:10:05,200 --> 00:10:09,240 Speaker 1: announced a new fifty million dollar contract to provide its 182 00:10:09,320 --> 00:10:12,560 Speaker 1: counter drone equipment to a European customer. 183 00:10:13,400 --> 00:10:16,480 Speaker 2: So It's share price tumbled early last month after the 184 00:10:16,559 --> 00:10:19,040 Speaker 2: chair CEO and another directors sold down their holdings, and 185 00:10:19,080 --> 00:10:22,080 Speaker 2: one day it's share price felt thirty percent. Since it's 186 00:10:22,160 --> 00:10:24,440 Speaker 2: low less than four weeks ago, it's now up sixty 187 00:10:24,559 --> 00:10:29,000 Speaker 2: percent for twenty twenty five, all up almost three hundred percent. 188 00:10:29,240 --> 00:10:31,839 Speaker 2: The Sydney based company's top product, I love this. It's 189 00:10:31,880 --> 00:10:35,200 Speaker 2: the drone gun which fires radio waves at drones to 190 00:10:35,200 --> 00:10:39,040 Speaker 2: bring them down. Pretty cool. Its shares have rocketed over 191 00:10:39,080 --> 00:10:40,920 Speaker 2: the past two years as it announced their string of 192 00:10:40,960 --> 00:10:42,520 Speaker 2: new deals with foreign governments. 193 00:10:43,240 --> 00:10:47,400 Speaker 1: Businesses in capital cities are finding it tougher than the regions, 194 00:10:47,440 --> 00:10:51,280 Speaker 1: with high commercial rents combining with soft consumer demand to 195 00:10:51,400 --> 00:10:53,440 Speaker 1: push up failure rates in the cities. 196 00:10:53,880 --> 00:10:56,600 Speaker 2: The latest Credit to watch at Business Risk Index shares 197 00:10:56,640 --> 00:11:00,200 Speaker 2: Sydney and Brisbane share the highest business failure rates among 198 00:11:00,280 --> 00:11:03,520 Speaker 2: the capitals, followed by Melbourne. By contrast, regional failure rates 199 00:11:03,520 --> 00:11:06,920 Speaker 2: sit much lower, with businesses shielded by cheaper operating environments, 200 00:11:07,000 --> 00:11:12,000 Speaker 2: less competition, stable anchor industries like mining, agriculture, health. Overall 201 00:11:12,040 --> 00:11:16,239 Speaker 2: business failures remain elevated. I think you know, high commercials, 202 00:11:16,280 --> 00:11:19,400 Speaker 2: insurance bills, wage and energy price hikes, cost of living pressures, 203 00:11:19,480 --> 00:11:22,960 Speaker 2: all hurting smme's cash flow. But there are winners like 204 00:11:23,040 --> 00:11:26,240 Speaker 2: perths three percent growth powered by mining, investment, migration and 205 00:11:26,280 --> 00:11:30,040 Speaker 2: infrastructures helping that very much. Is in contrast to states 206 00:11:30,080 --> 00:11:33,320 Speaker 2: like New South Wales and Queensland. Adelaide's construction boom is 207 00:11:33,360 --> 00:11:36,320 Speaker 2: an area where things are doing pretty well, Hobart's retail 208 00:11:36,400 --> 00:11:40,200 Speaker 2: and tourism revival and Melbourne's post COVID bounce in health 209 00:11:40,200 --> 00:11:41,560 Speaker 2: and professional services. 210 00:11:41,960 --> 00:11:44,680 Speaker 1: And you're actually speaking today after the show fearing greed 211 00:11:44,760 --> 00:11:48,559 Speaker 1: Q and a Ivan Calhoun, who is the chief economist 212 00:11:48,679 --> 00:11:49,520 Speaker 1: for Creditor Watch. 213 00:11:49,760 --> 00:11:52,560 Speaker 2: That's right. We talk about which sectors are doing okay, 214 00:11:52,880 --> 00:11:55,840 Speaker 2: what the outlook for insolvencies is for the next twelve months. 215 00:11:55,880 --> 00:11:57,839 Speaker 2: And so Ivan and I many many years ago work 216 00:11:57,880 --> 00:11:58,840 Speaker 2: together at the Reserve Bank. 217 00:11:58,920 --> 00:12:01,520 Speaker 1: Great fellow, Yeah, both veterans of the industry. 218 00:12:01,559 --> 00:12:03,880 Speaker 2: Sean you like that word veteran data. 219 00:12:03,920 --> 00:12:06,000 Speaker 1: Oh God, every chance I get, I will drop it 220 00:12:06,040 --> 00:12:10,680 Speaker 1: into every conversation from now until eternity. A ruling Sean 221 00:12:10,800 --> 00:12:14,839 Speaker 1: granting workers compensation to an employee who hurt herself by 222 00:12:14,880 --> 00:12:19,199 Speaker 1: tripping over a pet fence while working from home has 223 00:12:19,240 --> 00:12:24,560 Speaker 1: been overturned in a judgment significantly narrowing employer's liability for 224 00:12:24,679 --> 00:12:28,120 Speaker 1: remote work accidents. There'll be plenty of people watching this one. 225 00:12:27,960 --> 00:12:31,080 Speaker 2: Yeah so. Back in September twenty twenty two, while working 226 00:12:31,120 --> 00:12:34,000 Speaker 2: from home and looking after a colleague's puppy in the 227 00:12:34,000 --> 00:12:38,120 Speaker 2: city of Charles Sturt, worker Lauren Vercom tripped over a 228 00:12:38,200 --> 00:12:41,480 Speaker 2: temporary pet fence she'd set up, injuring her shoulder and 229 00:12:41,559 --> 00:12:45,000 Speaker 2: knee during a coffee break. Now, the South Australian Employment 230 00:12:45,000 --> 00:12:48,360 Speaker 2: Tribunal found that a home was her workplace, the injury 231 00:12:48,400 --> 00:12:51,640 Speaker 2: occurred during an authorized break, and the fence was a 232 00:12:51,679 --> 00:12:56,280 Speaker 2: physical workplace hazard, meaning her injuries arose out of her employment. 233 00:12:56,400 --> 00:12:58,960 Speaker 2: Quite controversial at the time, Now the full bench of 234 00:12:59,000 --> 00:13:02,720 Speaker 2: the Essay Employment Tribunal have overturned that decision, saying the 235 00:13:02,760 --> 00:13:06,040 Speaker 2: private purpose of the fence called into the question called 236 00:13:06,040 --> 00:13:10,960 Speaker 2: into question the accident's connection to her employment. Now the 237 00:13:11,040 --> 00:13:15,559 Speaker 2: ruling is the highest authority. Yes, in a mostly uncharted 238 00:13:15,960 --> 00:13:20,040 Speaker 2: legal world of work from home accidents, it could exclude 239 00:13:20,040 --> 00:13:24,320 Speaker 2: employers from liability relating to private hazards in remote workers' home, 240 00:13:24,400 --> 00:13:27,560 Speaker 2: so very very relevant. I still can't believe she actually 241 00:13:28,280 --> 00:13:30,839 Speaker 2: won the case to begin with, but anyway. 242 00:13:30,720 --> 00:13:34,360 Speaker 1: I love the fence was ruled a physical workplace hazard, 243 00:13:34,880 --> 00:13:37,240 Speaker 1: one that she set up herself. 244 00:13:37,040 --> 00:13:40,240 Speaker 2: A temporary one after a dog. Ah. 245 00:13:40,240 --> 00:13:41,800 Speaker 1: There's a lot in that, but we don't have time 246 00:13:41,840 --> 00:13:43,840 Speaker 1: to go any further. It might make an appearance in 247 00:13:43,840 --> 00:13:48,840 Speaker 1: our weekend. It is Suan shaking your head at me 248 00:13:49,480 --> 00:13:53,400 Speaker 1: in international news. Ford expects to take a nineteen point 249 00:13:53,400 --> 00:13:56,800 Speaker 1: five billion US dollar hit as it scraps its flagship 250 00:13:56,920 --> 00:14:00,640 Speaker 1: F one P fifty all electric pickup truck, as well 251 00:14:00,640 --> 00:14:04,600 Speaker 1: as other large evs to focus more on profitable hybrids 252 00:14:04,640 --> 00:14:06,319 Speaker 1: and combustion engine models. 253 00:14:06,600 --> 00:14:09,080 Speaker 2: The averhaul in the US car maker strategy follows the 254 00:14:09,160 --> 00:14:12,800 Speaker 2: recent cancelation of tax credit for EV purchases that was 255 00:14:12,880 --> 00:14:16,559 Speaker 2: under President Donald Trump's executive authority. He wants to roll 256 00:14:16,600 --> 00:14:20,080 Speaker 2: back regulations aimed at curbing car emissions forwards that would 257 00:14:20,080 --> 00:14:22,920 Speaker 2: divert money into producing more trucks and vans, affordable evs, 258 00:14:22,960 --> 00:14:25,840 Speaker 2: and an energy storage business that's expected to initially target 259 00:14:26,000 --> 00:14:29,280 Speaker 2: enterprise customers. At the end of September, the Trump administration 260 00:14:29,400 --> 00:14:32,680 Speaker 2: withdrew the seven and a half thousand dollar consumer tax 261 00:14:32,720 --> 00:14:36,400 Speaker 2: credit for purchases of new evs. Pretty amazing because initially 262 00:14:37,000 --> 00:14:40,240 Speaker 2: it led to this massive surgeon EV purchases before it ended, 263 00:14:40,800 --> 00:14:44,760 Speaker 2: and then it dropped by fifty percent basically the next month. 264 00:14:45,840 --> 00:14:47,560 Speaker 1: Finally, I mentioned this at the top of the show. 265 00:14:47,960 --> 00:14:51,680 Speaker 1: The NASDAQ, the tech heavy second largest exchange in the US, 266 00:14:51,920 --> 00:14:56,400 Speaker 1: has asked for regulatory approval to trade twenty three hours 267 00:14:56,480 --> 00:14:59,520 Speaker 1: a day during the working week. What's the extra hour 268 00:14:59,600 --> 00:15:01,560 Speaker 1: force updates and coffee breaks? 269 00:15:01,720 --> 00:15:04,080 Speaker 2: Maybe I was wondering, but I thought you'd be able 270 00:15:04,120 --> 00:15:06,520 Speaker 2: to do that automatically. I don't know. It's asked the 271 00:15:06,560 --> 00:15:09,760 Speaker 2: Securities and Exchange Commission to add an additional trading session 272 00:15:09,800 --> 00:15:12,960 Speaker 2: from nine pm to four am. So that's on top 273 00:15:13,000 --> 00:15:15,600 Speaker 2: of the pre market trading, the regular trading, and the 274 00:15:15,680 --> 00:15:20,120 Speaker 2: post market trading times. In a statement, senior vice president 275 00:15:20,160 --> 00:15:25,720 Speaker 2: of North American Markets, the beautifully named Chuck Mack said, 276 00:15:25,840 --> 00:15:29,680 Speaker 2: and I quote this evolution reflects a simple reality. Global 277 00:15:29,680 --> 00:15:32,440 Speaker 2: investors expect access on their terms and their time zones 278 00:15:32,480 --> 00:15:36,280 Speaker 2: without compromising trust or market integrity. He's right. They big 279 00:15:36,320 --> 00:15:40,040 Speaker 2: implications for other exchanges like Australia. So if nazac's trading 280 00:15:40,320 --> 00:15:43,720 Speaker 2: during Australian opening hours, it's basically just another exchange that 281 00:15:43,760 --> 00:15:47,520 Speaker 2: our traders can buy and sell immediately on the information available, 282 00:15:47,920 --> 00:15:51,520 Speaker 2: rather than actually having to wait hours to execute orders. 283 00:15:52,000 --> 00:15:54,840 Speaker 2: So it is actually quite significant. The New York Socock 284 00:15:54,920 --> 00:15:57,720 Speaker 2: Exchange is planning to upgrade trading to twenty two hours 285 00:15:57,760 --> 00:15:59,280 Speaker 2: a day. That they've got to be cold on that 286 00:15:59,320 --> 00:16:03,880 Speaker 2: they've got the well preliminary approvals a few months ago. 287 00:16:04,000 --> 00:16:06,640 Speaker 2: That I haven't heard much more about that anyway. Interesting. 288 00:16:06,920 --> 00:16:09,520 Speaker 1: Yeah, it certainly is now up next. As we mentioned 289 00:16:09,560 --> 00:16:12,400 Speaker 1: before Fear and Greed Q and a Ivan Colhoun from 290 00:16:12,520 --> 00:16:14,080 Speaker 1: Credit to Watch it is coming up in the Fear 291 00:16:14,120 --> 00:16:18,840 Speaker 1: and Greed playlist on your podcast platform or at Fearandgreed 292 00:16:18,920 --> 00:16:21,560 Speaker 1: dot com dot AU. Don't know why I stumbled over that, Sean. 293 00:16:21,600 --> 00:16:23,720 Speaker 1: I say the same words every single day. I think 294 00:16:23,720 --> 00:16:25,440 Speaker 1: I'd be able to do it with my eyes closed. 295 00:16:25,920 --> 00:16:28,040 Speaker 1: It's also where you sign up for our free daily newsletter. 296 00:16:28,160 --> 00:16:28,960 Speaker 1: Thank you very much, Sean. 297 00:16:29,120 --> 00:16:29,760 Speaker 2: Thanks Michael. 298 00:16:29,880 --> 00:16:33,600 Speaker 1: It's Wednesday, the seventeenth of December twenty twenty five. Make 299 00:16:33,640 --> 00:16:36,040 Speaker 1: sure you're following the podcast and please join us online 300 00:16:36,080 --> 00:16:39,520 Speaker 1: on LinkedIn, Instagram x TikTok and Facebook. I'm Michael Thompson, 301 00:16:39,560 --> 00:16:43,920 Speaker 1: and that was fear and greed. Have a great day.