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Speaker 1: Welcome to Fear and Greed business news you can use Today.

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Speaker 1: Top CEOs lineup to attack the government over productivity and

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Speaker 1: red tape. James Hardy crashes almost twenty eight percent after

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Speaker 1: a slowdown in the US market, and Prime Minister Anthony

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Speaker 1: Albanesi dismisses criticism from the Israeli leader who called him weak. Plus,

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Speaker 1: Australians want more flexibility at work. And US President Donald

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Speaker 1: Trump meets with the bosses of BHP and Rio Tinto

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Speaker 1: in Washington. It is Thursday, the twenty first of August

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Speaker 1: twenty twenty five. I'm Michael Thompson and good morning, Natalie McDonald.

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Speaker 2: Good morning, Michael, Natalie.

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Speaker 1: The main story this morning. Australia's top CEOs have fired

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Speaker 1: warnings at the Albanese government, demanding urgent reforms to lift

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Speaker 1: productivity amid mounting global headwinds. As the Economic Roundtable enters

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Speaker 1: its third and final day, they have really really got

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Speaker 1: stuck in.

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Speaker 2: They absolutely have leaders like Nabs Andrew Alback emphasizing the

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Speaker 2: need for actionable outcomes from the Economic Roundtable, joining what

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Speaker 2: is almost a shopping list of demands and critiques. BHPS

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Speaker 2: Mike Henry said rivals were outpacing Australia and attracting capital,

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Speaker 2: while Woodside's Meg O'Neil blasted delays to environmental approvals, warning

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Speaker 2: gas shortages loom by twenty twenty nine Judio Banks Chris

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Speaker 2: Bayliss calling red taper staggering burden, urging more flexibility and

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Speaker 2: tech investment, while My States Brett Morgan said smaller banks

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Speaker 2: face unfairly high costs. So the pressure is on for

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Speaker 2: Day three, which will focus on budget sustainability and tax reform,

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Speaker 2: with attendees to include Victor Dominello and economist Chris Richardson.

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Speaker 1: Yeah, Victor Dominello was an interesting attendee there because he's

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Speaker 1: a former New South Wales state minister and very forward

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Speaker 1: thinking in terms of digitization and trying to increase the

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Speaker 1: efficiency of government processes. So it will be interesting to

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Speaker 1: see what he has to say. And a quick mention

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Speaker 1: you did mention Woodside to Meg O'Neil, fear and Greeds

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Speaker 1: Q and A Today coming up after the show is

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Speaker 1: an interview with Meg O'Neil really getting stuck into some

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Speaker 1: of those same issues. It is definitely worth a listen.

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Speaker 1: There's also been a bit of criticism Natalie coming from

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Speaker 1: a former chair of the Productivity Commission.

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Speaker 2: That's right. Gary Banks has slammed the Albanesi government for

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Speaker 2: wasteful spending and over regulation, warning it's driving productivity to

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Speaker 2: sixty year lows. Speaking at and I don't know if

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Speaker 2: we knew this was happening, but speaking at a rival

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Speaker 2: round table organized by National Senator Matt Canavan and held

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Speaker 2: in a room above the Treasurer's own roundtable in Parliament House,

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Speaker 2: Banks said Labour's so called reforms in energy and industrial

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Speaker 2: relations only add red tape while billions flow into taxpayer

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Speaker 2: funded jobs in health and NDIS.

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Speaker 1: I don't know how useful that is really, Like having

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Speaker 1: a separate roundtable going on at the same time, I

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Speaker 1: would prefer and maybe I hope i'm speaking for others

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Speaker 1: in saying you'd prefer to see bipartisan support for things

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Speaker 1: that are going to improve productivity within the country and

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Speaker 1: so it's a good thing. I suppose that the Deputy

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Speaker 1: Leader of the Opposition, Ted O'Brien is one of the

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Speaker 1: representatives the attendees at the real, legitimate round table that

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Speaker 1: is happening at the same time. Now, moving away from

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Speaker 1: the round table, let's take a look at local markets.

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Speaker 1: How did things go yesterday? So we need to talk

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Speaker 1: about reporting seasons and big results, but give us a

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Speaker 1: rap of what happened yesterday.

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Speaker 2: It was a case of the little engine that could

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Speaker 2: really shaking off some huge blows from a brutal James

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Speaker 2: Hardy cell off. More on that in just a moment.

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Speaker 2: To finish the day in the black. The S and

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Speaker 2: p ASX two hundred index gained twenty one points zero

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Speaker 2: point three percent to eighty nine hundred and eighteen, as

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Speaker 2: seven of the eleven sectors closed. Higher materials were the

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Speaker 2: weakest sector, dragged lower by James Hardy. Again bear with us,

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Speaker 2: we're coming to that as investors rushed back into the financials.

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Speaker 2: A quick mention also of CSL, which lost a further

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Speaker 2: two percent yesterday. That's now nineteen percent over the last

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Speaker 2: five days to two hundred and twenty dollars.

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Speaker 1: All right, let's talk about James Hardy, because it was

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Speaker 1: a staggering collapse yesterday of at share price down twenty

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Speaker 1: seven percent yesterday, and this is.

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Speaker 2: Off the back of the net profit for the June

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Speaker 2: quarter tumbling sixty percent after a sharp slowdown in its

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Speaker 2: key US market. The downturn however, was defended as a

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Speaker 2: blip on the radar by CEO Aaron Aerta, who insists

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Speaker 2: outdoor decking and Pergola's business as k that's the US

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Speaker 2: organization is performing well. Now. You might remember that this

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Speaker 2: was the fourteen billion dollar deal that shifted at the

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Speaker 2: company's primary listing to New York analysts also punishing the

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Speaker 2: company on weaker earning expectations.

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Speaker 1: All right, James Hardy was really the headline yesterday. A

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Speaker 1: few other big ones though, Transurb and exploring overseas growth

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Speaker 1: options in response to really what is a pretty sluggish

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Speaker 1: domestic outlook.

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Speaker 2: The company is part of shortlisted consortiums in Georgia and

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Speaker 2: Tennis for new toll road projects, so really exploring that

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Speaker 2: the US growth opportunities. Trans Urban's annual profit plunged fifty

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Speaker 2: two percent, hit by higher operating and finance costs, despite

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Speaker 2: a three percent rise in toll revenue shares, finishing the

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Speaker 2: day up two point one percent at fourteen dollars thirty and.

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Speaker 1: Just quickly tell us about Lottery Corporation. It's an interesting one.

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Speaker 2: This is probably one of my favorite little result stories

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Speaker 2: of the day, actually, I think just because it is

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Speaker 2: around the lottery, so Shares and Lottery Corporation hitting an

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Speaker 2: all time high despite net profit slipping twelve percent after

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Speaker 2: delivering four one hundred million dollar jackpots in one year.

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Speaker 2: The company said its diverse portfolio, including of course Powerball,

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Speaker 2: Saturday Lotto, os, Lootto and Keno, kept customer put.

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Speaker 1: Hang on, hang on, hang on. Did you just call

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Speaker 1: it keno? We need to adjust this.

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Speaker 2: It is I have no idea.

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Speaker 1: It is keno. This is this is.

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Speaker 2: This is tell you don't do the lottery without telling me.

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Speaker 1: This is one of those Australian v. British things that

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Speaker 1: you would not know unless you have kind of spent

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Speaker 1: a lot of time in your local RSL and seen

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Speaker 1: the Kenot numbers popping up time and time again. It

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Speaker 1: is most certainly keno. Please keep going.

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Speaker 2: Okay, so now we've addressed that. Thank you. So, this diversity,

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Speaker 2: as we have in Lostry Corporations products, keeping customer participation healthy,

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Speaker 2: and this despite that soft spending, the company flagging a

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Speaker 2: powerable refresh Michael, you might like this with both higher

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Speaker 2: ticket prizes and prize totals, Shares finishing the d seven

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Speaker 2: percent higher at five dollars and sixty six.

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Speaker 1: Okay, I like higher prizes, not a huge fan of

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Speaker 1: having to pay more to enter them, but anyway, that's

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Speaker 1: just my personal preference. Just briefly. It is interesting Australia's

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Speaker 1: biggest companies have unveiled five billion dollars in share buybacks

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Speaker 1: this reporting season, setting the stage for a record year

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Speaker 1: really as boards a favoring repurchasing stock over paying higher dividends.

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Speaker 2: CSL is the latest bluechip to join twelve other companies

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Speaker 2: announcing programs in August, already eclipsing last year's two point

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Speaker 2: eight billion dollar tally at the same point, and let's say,

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Speaker 2: buybacks are being driven by shareholder pressure, with MST research

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Speaker 2: showing companies that launched them typically outperform the market by

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Speaker 2: about ten percent over the following year. Last week, Telstra

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Speaker 2: flagged a fresh one billion dollar buy back. News Corp

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Speaker 2: extended its program by one point five billion dollars, while

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Speaker 2: Light and Wonder lifted its to one point five billion

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Speaker 2: US dollars. Another theme emerging this reporting season is dividends

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Speaker 2: flatlining at around ninety one billion dollars for FY twenty six,

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Speaker 2: with the likes of BHP cutting payouts to their lowest

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Speaker 2: in eight years.

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Speaker 1: All right, big start to the show. Let's take a

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Speaker 1: quick break. We'll be back in a moment with the

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Speaker 1: rest of the day's business news. Natalie Prime Minister Anthony

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Speaker 1: Alberanzi has said he doesn't take personally comments made by

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Speaker 1: Israel Prime Minister Benjamin Etnia who calling him weak and

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Speaker 1: accusing him of abandoning Australia's Jewish community.

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Speaker 2: The rift follows the Albanesi government's decision to recognize a

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Speaker 2: Palestinian state at the UN next month and to block

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Speaker 2: entry to far right Israeli MP Simcha Roffman, prompting Israel

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Speaker 2: to revoke visas for Australian diplomats in the West Bank.

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Speaker 2: Netnya Who's scathing social media post angering Jewish community leaders,

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Speaker 2: labeling the comments unseemly, Home Affairs Minister Tony Burke saying

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Speaker 2: strength is not measured by how many people you can

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Speaker 2: blow up or how many children you can leave Hungary,

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Speaker 2: and even opposition figures including Susan Lee and Andrew Hasey,

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Speaker 2: rallying behind Albanesi, insisting Australia's leader deserves respect.

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Speaker 1: Monash IVF has confirmed an independent review into two serious

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Speaker 1: embryo mix ups in Brisbane and Melbourne will remain in

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Speaker 1: secret to protect patient privacy.

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Speaker 2: In June, the fertility Giant revealed an incident in Melbourne

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Speaker 2: whereby a patient received her own embryo instead of her partners,

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Speaker 2: just three months after admitting a Brisbane woman had unknownly

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Speaker 2: given birth to a baby with no genetic link to her.

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Speaker 2: Now an independent review found human error was to blame

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Speaker 2: in Brisbane, while a string of failures and IT flaws

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Speaker 2: caused the Melbourne case, but the full report won't be released.

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Speaker 2: The company says it's protecting patient privacy. Fertility experts, though,

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Speaker 2: have perhaps unsurprisingly, renewed calls for national rules to replace

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Speaker 2: the current patchwork of state regulations. Monash IVF reports full

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Speaker 2: year earning results on Friday. Shares have actually fallen twenty

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Speaker 2: five percent since the first instant became public, but finishing

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Speaker 2: the day in the black.

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Speaker 1: The head of US Oil and guess Giant Chevron, says

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Speaker 1: Australia should be more like America or more like the

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Speaker 1: Middle East if it wants to compete for fossil fuel investment.

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Speaker 2: In an interview with The Australian, Mike Worth, who met

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Speaker 2: with Deputy PM Richard Miles last week complained about rising

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Speaker 2: project costs, tougher taxes, and legal challenges from environmental groups.

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Speaker 2: The US under Donald Trump has slash environmental protections, with

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Speaker 2: officials celebrating deregulation as a dagger to climate policy. Critics

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Speaker 2: argue that's hardly a model for Australia. Chevron runs the

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Speaker 2: Gorgon LNG project in Wa, the country's single biggest carbon polluter,

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Speaker 2: and was last year accused in a report of being

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Speaker 2: dangerously out of step with global climate goals. It's also

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Speaker 2: never paid the petroleum resource rent tax until now. Critics

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Speaker 2: say that Chevron's problem isn't Australian regulation, but the fact

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Speaker 2: that renewables are now cheaper and more reliable than gas.

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Speaker 1: How about this one, Natalie, We seem to be talking

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Speaker 1: an awful lot about working from home in the four

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Speaker 1: day work week. It seems to be gaining momentum with

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Speaker 1: new polling showing Australians want more flexibility at work, and

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Speaker 1: this is in big numbers, two thirds of voters backing

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Speaker 1: a legal right to work from home in a four

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Speaker 1: day work week.

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Speaker 2: Victoria's Premier, Jacinta Allen, has promised to guarantee two days

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Speaker 2: a week from home, a move that builds on Labour's

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Speaker 2: attack against Peter Dutton's push to send public servants back

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Speaker 2: to the office. But the result of political martyr show

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Speaker 2: support cuts of cross party lines, with even a slim

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Speaker 2: majority of Coalition voters on board. Now nearly ninety percent

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Speaker 2: of people who already work remotely back the idea. Of course,

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Speaker 2: that bit's not really a surprise, but what is a

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Speaker 2: surprise and super interesting to me anyway, is that so

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Speaker 2: to do. Just under two thirds of those who have

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Speaker 2: never worked from home. Union leaders put the idea of

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Speaker 2: a four day work week ahead of the Economic reform summit. However,

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Speaker 2: Productivity Commission Chair Daniel would dismiss the need for government intervention,

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Speaker 2: claiming employers and professionals were finding a sweet spot where

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Speaker 2: hybrid work is concerned.

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Speaker 1: Finally, one more before we get to international news. British

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Speaker 1: pop star Robbie Williams has taken a minority stake in

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Speaker 1: Australian no alcohol beer company Heaps Normal after discovering the

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Speaker 1: brand while touring here.

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Speaker 2: Williams, who has been sober for more than twenty years,

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Speaker 2: joins the growing global trend of consumers choosing low and

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Speaker 2: no alcohol options. Co founder Andy Miller said he was

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Speaker 2: stunned to receive a FaceTime called directly from the singer.

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Speaker 2: Founded in twenty twenty, Sydney based heaps Normal has seen

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Speaker 2: revenue rise twenty percent in twenty twenty four twenty five

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Speaker 2: year and is now expanding into the UK and US

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Speaker 2: as it eyes a Series B capital raise in the

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Speaker 2: next year to support growth. Research shows the percentage of

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Speaker 2: adults drinking alcohol in the US has actually fallen to

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Speaker 2: a ninety year low at fifty four percent.

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Speaker 1: Turning to international news now and this story could have

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Speaker 1: actually fit either in domestic or international. It blends the

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Speaker 1: two nicely. US President Donald Trump has met with Rio

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Speaker 1: Tinto and BHP bosses in Washington as they push to

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Speaker 1: advance the stalled resolution copper projects in Arizona, which is

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Speaker 1: one of the largest untapped copper deposits in the States.

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Speaker 2: The meeting featured Rio's incoming and outgoing chief execs You've

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Speaker 2: got a two for the price of one there, as

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Speaker 2: well as the boss of BHP, and followed a court

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Speaker 2: ruling delaying a key land transfer needed for the multi

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Speaker 2: billion dollar project following opposition from Native American tribes and

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Speaker 2: environmental groups. Critics argue the mine would devastate sacred tribal land,

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Speaker 2: drain water, and leave a massive crater. Donald Trump used

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Speaker 2: his Truth social platform to blast radical activists and vow

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Speaker 2: support for the mine, saying the project could deliver three thousand,

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Speaker 2: eight hundred jobs, bolster national security, and reduce reliance on

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Speaker 2: imported copper after his administration imposed a fifty percent tariff

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Speaker 2: on foreign supplies. Despite setbacks, Rio and BHP insists the

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Speaker 2: mine remains viable, potentially producing twenty million tons of copper

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Speaker 2: over forty years.

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Speaker 1: All right, how about this one, Natalie. It has been

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Speaker 1: just over a week now since pop superstar Taylor Swift

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Speaker 1: appeared on boyfriend Travis Kelsey and his brother Jason Kelsey's

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Speaker 1: New Heights podcast, pulling in a record high amount of viewers.

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Speaker 1: You should have come on Fear and Greed. But there

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Speaker 1: is one thing that people have noticed We're missing from

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Speaker 1: the podcast. Ads.

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Speaker 2: The episode, released last week, wrapped up more than ten

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Speaker 2: million YouTube views in under twenty four hours, making it

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Speaker 2: one of the most popular podcasts of all time. I'll

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Speaker 2: be honest, I did contribute to those numbers. But here's

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Speaker 2: the catch. The episode didn't feature a single sponsor or

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Speaker 2: host red Ad, instead relying on the native YouTube ads

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Speaker 2: that pop up now. There are a few theories as

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Speaker 2: to why this may have happened that Bloomberg have explored.

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Speaker 2: Industry watchers say the Swift episode may have been a

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Speaker 2: last minute surprise, leaving too little time to pitch premium

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Speaker 2: spom ships. Others point to Swift's very carefully managed brand

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Speaker 2: and her team may not have wanted her name next

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Speaker 2: to DraftKings or General Mills, or some of the podcasts

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Speaker 2: are the more regular sponsors.

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Speaker 1: Up next is the Fear and Greed Q and A

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Speaker 1: featuring Meg O'Neil CEO of Woodside speaking to our friends

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Speaker 1: at Osby's, which is Australia's leading provider of live and

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Speaker 1: on demand video of the latest news in Australian business markets,

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Speaker 1: economy and startups. And of course sign up for free

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Speaker 1: at Osby's dot com dot au.

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Speaker 2: Thank you very much, Natalie, Thank you Michael.

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Speaker 1: It is Thursday, the twenty first of August twenty twenty five.

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Speaker 1: Make sure you're following the podcast. Join us online on LinkedIn, Instagram,

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Speaker 1: ex TikTok and Facebook and go to Fearangreed dot com

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Speaker 1: dot Au to sign up for our free daily newsletter.

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Speaker 1: I'm Michael Thompson, and that was fear and greed. Have

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Speaker 1: a great day.