1 00:00:06,440 --> 00:00:09,640 Speaker 1: Welcome to Fear and Greed business news you can use today. 2 00:00:09,800 --> 00:00:11,920 Speaker 1: Home prices are on the rise again, but the pace 3 00:00:11,920 --> 00:00:15,320 Speaker 1: of growth is expected to be relatively slow as housing 4 00:00:15,360 --> 00:00:19,160 Speaker 1: affordability factors kick in. Holly's gear up for a return 5 00:00:19,239 --> 00:00:22,840 Speaker 1: to Canber with superannuation changes front and center, and some 6 00:00:22,920 --> 00:00:26,080 Speaker 1: good news for coffee drinkers, plus the rise and rise 7 00:00:26,120 --> 00:00:28,760 Speaker 1: of the Commonwealth Bank and the next leap forward in 8 00:00:28,840 --> 00:00:31,840 Speaker 1: weight loss drugs. It is Wednesday, the second of July 9 00:00:32,000 --> 00:00:35,360 Speaker 1: twenty twenty five. I'm Michael Thompson and good morning Adam Lane. 10 00:00:35,600 --> 00:00:36,760 Speaker 2: Good morning to you, Michael. 11 00:00:37,120 --> 00:00:39,800 Speaker 1: Adam There's never been a better day than today to 12 00:00:39,880 --> 00:00:42,599 Speaker 1: sign up for the Fear and Greed newsletter. Would you agree? 13 00:00:42,920 --> 00:00:43,839 Speaker 2: Sure? It's a ripper? 14 00:00:45,360 --> 00:00:47,760 Speaker 1: Can we use that as an endorsements line on the 15 00:00:48,320 --> 00:00:50,760 Speaker 1: on the newsletter? Yeah, it's a ripper, Adam Lane. 16 00:00:50,800 --> 00:00:51,919 Speaker 2: I think it's a good slogan. 17 00:00:52,120 --> 00:00:54,040 Speaker 1: Yeah great. Well, look, if you haven't signed up to 18 00:00:54,040 --> 00:00:56,640 Speaker 1: this ripper of a newsletter, jump onto the website. Fearangreed 19 00:00:56,640 --> 00:00:58,680 Speaker 1: dot com dot au also put a link in today's 20 00:00:58,680 --> 00:01:01,600 Speaker 1: show notes. It's just a quick three minute read inner 21 00:01:01,720 --> 00:01:04,360 Speaker 1: in box every weekday morning by six am. Just puts 22 00:01:04,400 --> 00:01:07,000 Speaker 1: you that little bit ahead of your competition and maybe 23 00:01:07,000 --> 00:01:09,480 Speaker 1: your colleagues if you're competitive like I am. Now on 24 00:01:09,600 --> 00:01:12,160 Speaker 1: with the show, Adam. The main story this morning. Home 25 00:01:12,240 --> 00:01:15,800 Speaker 1: prices across the country rose by seven point one percent 26 00:01:16,120 --> 00:01:19,399 Speaker 1: last financial year. That's above the long term average, although 27 00:01:19,440 --> 00:01:23,080 Speaker 1: the overall figure disguises the reality of very hot cities 28 00:01:23,319 --> 00:01:26,240 Speaker 1: and one particularly cold city. I suppose it'd say, as 29 00:01:26,240 --> 00:01:30,160 Speaker 1: well as the outperformance of regional Australia, which is really interesting, 30 00:01:30,240 --> 00:01:34,199 Speaker 1: I reckon. According to Cotality, the best performing markets last 31 00:01:34,200 --> 00:01:39,920 Speaker 1: financial year were in order, Adelaide, Brisbane, Perth and Darwin. 32 00:01:40,240 --> 00:01:44,800 Speaker 1: The only city to go backwards was Melbourne, while Sydney, Hobart, 33 00:01:44,840 --> 00:01:47,920 Speaker 1: Canberra all eaked out small gains for the year. The 34 00:01:47,960 --> 00:01:51,280 Speaker 1: good news is that for the month of June, prices 35 00:01:51,360 --> 00:01:54,640 Speaker 1: across the board were higher, meaning five months of gains 36 00:01:55,040 --> 00:01:58,000 Speaker 1: and the market overall looks to be on the app. 37 00:01:58,280 --> 00:02:01,240 Speaker 3: Yeah, Michael, it sounds like pretty good news for homeowners. 38 00:02:01,240 --> 00:02:05,240 Speaker 3: Cotalities research director Tim Lawless says falling interest rates have 39 00:02:05,280 --> 00:02:08,360 Speaker 3: been a clear catalyst behind the renewed momentum, but he 40 00:02:08,440 --> 00:02:10,880 Speaker 3: warns at the pace of growth of house prices remains 41 00:02:10,960 --> 00:02:14,480 Speaker 3: mild compared to mid twenty twenty three. Also, the current 42 00:02:14,480 --> 00:02:17,800 Speaker 3: housing rebound is occurring against a backdrop of relatively low 43 00:02:17,880 --> 00:02:20,840 Speaker 3: home sales. Housing turnover through the first half of the 44 00:02:20,919 --> 00:02:24,520 Speaker 3: calendar year is tracking below the average over the last decade. 45 00:02:24,600 --> 00:02:27,280 Speaker 3: If you look at the capital cities versus the regions, 46 00:02:27,880 --> 00:02:31,240 Speaker 3: residential prices in the country climbed more than ten percent 47 00:02:31,320 --> 00:02:34,160 Speaker 3: last financial year, while the capital cities were up six 48 00:02:34,240 --> 00:02:37,200 Speaker 3: point one percent. Now most of his own homes for 49 00:02:37,280 --> 00:02:40,200 Speaker 3: many years and in the long run, the best performing 50 00:02:40,240 --> 00:02:43,359 Speaker 3: cities over ten years have been Brisbane and Adelaide, as 51 00:02:43,400 --> 00:02:47,160 Speaker 3: well as the regional New South Wales and regional Queensland markets, 52 00:02:47,400 --> 00:02:51,200 Speaker 3: where prices have nearly doubled. In contrast, Darwin and the 53 00:02:51,240 --> 00:02:54,120 Speaker 3: Northern Territory are flat or lower over the decade. 54 00:02:54,840 --> 00:02:57,640 Speaker 1: It's so interesting looking at that long term performance just 55 00:02:57,680 --> 00:03:00,400 Speaker 1: makes you wish you had a time machine right and 56 00:03:00,400 --> 00:03:04,200 Speaker 1: pick the winners. Oh absolutely. In terms of the outlook, though, 57 00:03:04,240 --> 00:03:06,440 Speaker 1: I forget the time machine. We can't do anything about 58 00:03:06,440 --> 00:03:10,280 Speaker 1: what's already happened. But looking ahead at him, Tim Lawless 59 00:03:10,360 --> 00:03:13,160 Speaker 1: says the lower interest rates are supporting the market, but 60 00:03:13,200 --> 00:03:17,400 Speaker 1: there are downside risks as well. Affordability constraints remain, as 61 00:03:17,440 --> 00:03:20,760 Speaker 1: does an elevated level of household debt and a generally 62 00:03:21,000 --> 00:03:26,240 Speaker 1: cautious lending environment. The gear of political turmoil doesn't help either. 63 00:03:27,280 --> 00:03:31,200 Speaker 1: The appshot of all of this is that Catality is 64 00:03:31,280 --> 00:03:35,880 Speaker 1: forecasting growth this financial year, but not strong growth. And Adam, 65 00:03:35,880 --> 00:03:39,360 Speaker 1: there's also good news for renters, though not necessarily landlords. 66 00:03:39,440 --> 00:03:40,440 Speaker 2: Yeah that's right, Michael. 67 00:03:40,480 --> 00:03:43,240 Speaker 3: Rental growth has continued to ease across most cities, with 68 00:03:43,520 --> 00:03:47,560 Speaker 3: national Rental Index rising one point three percent through the 69 00:03:47,640 --> 00:03:50,560 Speaker 3: June quarter and that is the lowest since mid twenty 70 00:03:50,600 --> 00:03:54,280 Speaker 3: twenty across the capital cities. The ACT recorded the smallest 71 00:03:54,400 --> 00:03:58,120 Speaker 3: quarterly rise across the capital cities, followed by Melbourne and Adelaide. 72 00:03:58,480 --> 00:04:02,040 Speaker 3: Darwin stood out with the strongest quarterly lift in rents. 73 00:04:02,560 --> 00:04:06,800 Speaker 1: All right, let's move away now from property. Let's talk equities. 74 00:04:07,040 --> 00:04:09,640 Speaker 1: Day one of the new financial year. I don't know 75 00:04:09,640 --> 00:04:12,920 Speaker 1: about you, but I was hoping for something big and exciting, 76 00:04:13,720 --> 00:04:14,760 Speaker 1: a ripper of a day. 77 00:04:14,840 --> 00:04:15,240 Speaker 2: A bang. 78 00:04:15,440 --> 00:04:17,560 Speaker 1: Yeah, there was no bang. There was not a ripper 79 00:04:17,640 --> 00:04:23,559 Speaker 1: of a day. The ASX two hundred finished down nought 80 00:04:24,000 --> 00:04:27,520 Speaker 1: point zero one percent. Just make sure I had to 81 00:04:27,560 --> 00:04:29,240 Speaker 1: make sure I had the decimal point of the right 82 00:04:29,279 --> 00:04:31,920 Speaker 1: place at zero point zero one percent to eighty five 83 00:04:31,960 --> 00:04:36,080 Speaker 1: hundred and forty one points. Very very dull day, especially 84 00:04:36,080 --> 00:04:38,960 Speaker 1: considering there were record highs on Wall Street leading into it. 85 00:04:39,320 --> 00:04:41,960 Speaker 3: Yeah, can't make a headline out of that one, Michael, 86 00:04:42,200 --> 00:04:44,840 Speaker 3: You'd call it flat, I think. But the tech stocks 87 00:04:44,839 --> 00:04:47,840 Speaker 3: followed the Nazdak's lead, with Zero up one point two 88 00:04:47,880 --> 00:04:50,760 Speaker 3: percent and Light three sixty climbing four point four percent. 89 00:04:51,160 --> 00:04:53,960 Speaker 3: It was a good day for the retailers, with Endeavor, Harvey, Norman, 90 00:04:54,000 --> 00:04:56,920 Speaker 3: and Woolworth all performing well. It wasn't so good for 91 00:04:56,960 --> 00:04:59,680 Speaker 3: the Commonwealth Bank, which fell back by one point two percent, 92 00:05:00,120 --> 00:05:02,279 Speaker 3: even as the other big banks did better. 93 00:05:02,640 --> 00:05:05,800 Speaker 1: Yeah, on global markets, there is so much going on 94 00:05:05,839 --> 00:05:10,000 Speaker 1: at the moment with equities and currencies. We mentioned that 95 00:05:10,640 --> 00:05:14,200 Speaker 1: great day for the Nasdaq, also for the broad based 96 00:05:14,240 --> 00:05:17,920 Speaker 1: SMP five hundred, they both set closing highs. Equity investors 97 00:05:18,040 --> 00:05:21,320 Speaker 1: seemed to be warming to the idea of of an 98 00:05:21,320 --> 00:05:24,200 Speaker 1: extension of tax cuts under the three point three trillion 99 00:05:24,279 --> 00:05:27,320 Speaker 1: US dollar tax Cut and Spending Bill, the Big Beautiful Bill, 100 00:05:27,440 --> 00:05:29,800 Speaker 1: of course, Adam, it would be remissive us not to 101 00:05:29,880 --> 00:05:34,240 Speaker 1: use its formal name. Also, the Karma Geea political tensions 102 00:05:34,279 --> 00:05:36,960 Speaker 1: and the likelihood of interest rate cuts later this year 103 00:05:37,080 --> 00:05:40,320 Speaker 1: all cause for optimism, it seems for equity investors. 104 00:05:40,600 --> 00:05:44,239 Speaker 2: Yeah, Michael, that's true. Debt what debt ceiling? 105 00:05:44,320 --> 00:05:47,880 Speaker 3: Right, But bond market traders are actually less impressed. The 106 00:05:48,000 --> 00:05:50,480 Speaker 3: US dollar hit a near four year low against the 107 00:05:50,480 --> 00:05:54,960 Speaker 3: Euro amid worries over rising US government deficit and uncertainty 108 00:05:55,000 --> 00:05:58,200 Speaker 3: surrounding trade deals with major countries. The Aussie dollar is 109 00:05:58,240 --> 00:06:01,799 Speaker 3: trading at almost sixty six since. The US Dollar Index, 110 00:06:02,160 --> 00:06:05,160 Speaker 3: which measures the greenback against the basket of currencies including 111 00:06:05,200 --> 00:06:08,479 Speaker 3: the yen and the Euro, has fallen six months in 112 00:06:08,520 --> 00:06:11,240 Speaker 3: a row, and that's its worst half year since the 113 00:06:11,360 --> 00:06:16,160 Speaker 3: nineteen seventies. Remember Disco, Michael. Oil edged down after its 114 00:06:16,160 --> 00:06:19,880 Speaker 3: biggest weekly loss in two years as traders speculated on 115 00:06:19,920 --> 00:06:23,680 Speaker 3: the volume of an expected OPEC plus supply hike and 116 00:06:23,760 --> 00:06:27,760 Speaker 3: fears of Middle East tensions disrupting global oil flows are 117 00:06:27,800 --> 00:06:32,000 Speaker 3: starting to dissipate. Gold Well, it continues its shining star 118 00:06:32,160 --> 00:06:33,120 Speaker 3: and edged higher. 119 00:06:34,640 --> 00:06:37,359 Speaker 1: Remember Disco from the seventies. Adam, I was born in 120 00:06:37,440 --> 00:06:38,640 Speaker 1: nineteen eighty six. 121 00:06:40,240 --> 00:06:42,160 Speaker 2: Back catalog, then go and have a Having. 122 00:06:42,000 --> 00:06:45,440 Speaker 1: Said that, massive fan of the BG, so of course 123 00:06:45,600 --> 00:06:48,600 Speaker 1: I'm very familiar with disco anyway, Let's take a quick 124 00:06:48,640 --> 00:06:50,800 Speaker 1: look at business by numbers. This is brought to you 125 00:06:50,839 --> 00:06:54,080 Speaker 1: by zero dot com slash au. We do this every 126 00:06:54,120 --> 00:06:57,839 Speaker 1: week for the team at zero. The first number, number one, 127 00:06:58,400 --> 00:07:01,680 Speaker 1: Number number one is ten percent. That is what the 128 00:07:01,720 --> 00:07:05,720 Speaker 1: S and p ASX two hundred rows by last financial year. 129 00:07:05,880 --> 00:07:09,039 Speaker 1: A pretty good year for the local boss. The second 130 00:07:09,120 --> 00:07:12,400 Speaker 1: number seven point one percent the rise in the price 131 00:07:12,400 --> 00:07:16,040 Speaker 1: of the median home across the capital cities last year. Again, 132 00:07:16,560 --> 00:07:20,520 Speaker 1: pretty good result. Finally, Adam, the third of our three 133 00:07:20,600 --> 00:07:25,000 Speaker 1: numbers today, one percent the depreciation in the Aussie dollar 134 00:07:25,640 --> 00:07:27,800 Speaker 1: over the past year. Do you have a favorite number 135 00:07:27,840 --> 00:07:28,520 Speaker 1: out of those three. 136 00:07:28,960 --> 00:07:30,800 Speaker 3: Oh, it's got to be the ten percent rise in 137 00:07:30,840 --> 00:07:31,880 Speaker 3: the ASEX, doesn't it. 138 00:07:32,080 --> 00:07:34,080 Speaker 2: Yeah? Absolutely, what a strong result. 139 00:07:34,200 --> 00:07:36,240 Speaker 3: And for anyone that owns a home seven point one 140 00:07:36,280 --> 00:07:39,320 Speaker 3: percent that's good too. Depreciation of the Aussie dollar at 141 00:07:39,320 --> 00:07:42,240 Speaker 3: one percent, right, we get a lot of information on 142 00:07:42,280 --> 00:07:46,800 Speaker 3: currency fluctuations from our colleague Sean one percent. It's in 143 00:07:46,840 --> 00:07:49,119 Speaker 3: a pretty tight range. So I think we've done pretty 144 00:07:49,120 --> 00:07:51,480 Speaker 3: well now. I think you're right there. Anyway, we've got 145 00:07:51,520 --> 00:07:54,320 Speaker 3: a lot still to cover, Adam, A big show coming up. 146 00:07:54,360 --> 00:07:55,960 Speaker 3: Will be back in a moment with the rest of 147 00:07:56,000 --> 00:08:07,000 Speaker 3: the day's business news, Adam, intense weather on the New 148 00:08:07,040 --> 00:08:11,240 Speaker 3: South Wales coast has prompted evacuation warnings, canceled flights, seen 149 00:08:11,400 --> 00:08:16,200 Speaker 3: huge waves, lash beaches. The vigorous coastal low hit yesterday 150 00:08:16,480 --> 00:08:19,680 Speaker 3: with at least five million people in the path of 151 00:08:19,720 --> 00:08:23,720 Speaker 3: this intense weather system. Yeah, Michael, it is fresh this 152 00:08:23,840 --> 00:08:26,160 Speaker 3: morning and that is the least of the worries. It's 153 00:08:26,200 --> 00:08:28,920 Speaker 3: still a serious situation and the terminology being used to 154 00:08:28,920 --> 00:08:32,120 Speaker 3: describe it certainly gets the message across. It has been 155 00:08:32,160 --> 00:08:38,480 Speaker 3: referred to as a bomb cyclone, bombo genesis and explosive cyclogenesis, 156 00:08:38,520 --> 00:08:41,080 Speaker 3: which all refer to the rapid intensification of the weather 157 00:08:41,440 --> 00:08:44,520 Speaker 3: fueled by a dramatic plunge in pressure. The end result 158 00:08:44,600 --> 00:08:48,520 Speaker 3: has been torrential rain, strong winds and huge seas whereaking 159 00:08:48,600 --> 00:08:50,760 Speaker 3: havoc along much of the New South Wales coast. 160 00:08:50,960 --> 00:08:53,520 Speaker 1: Yeah, it's a pretty dangerous situation, so please if you 161 00:08:53,559 --> 00:08:57,280 Speaker 1: are in these areas, stay safe, Adam. Ahead of next 162 00:08:57,280 --> 00:09:00,800 Speaker 1: week's return to Canberra for the next government changes to 163 00:09:00,880 --> 00:09:05,880 Speaker 1: taxation of high superbalances getting plenty of attention earlier in 164 00:09:05,920 --> 00:09:08,920 Speaker 1: the week, can pulsory super architect and former Prime Minister 165 00:09:08,960 --> 00:09:10,640 Speaker 1: Paul Keating took a bit of a swipe at the 166 00:09:10,640 --> 00:09:13,880 Speaker 1: policy as he loves to do, which he argues will 167 00:09:13,920 --> 00:09:18,240 Speaker 1: introduce bracket creep into the supersystem, which is an interesting concept. 168 00:09:18,320 --> 00:09:21,800 Speaker 1: And now ACTU Secretary Sally mcmahonutt says the three million 169 00:09:21,880 --> 00:09:26,160 Speaker 1: dollar threshold above which the government's new superannuation earnings tax 170 00:09:26,200 --> 00:09:29,200 Speaker 1: will apply needs to be indexed, but that there's no 171 00:09:29,360 --> 00:09:30,240 Speaker 1: urgency to do that. 172 00:09:30,760 --> 00:09:33,560 Speaker 2: Yeah, Michael, don't have former pms love a chat. 173 00:09:34,040 --> 00:09:36,839 Speaker 1: They certainly do. I just love anyone though who's willing 174 00:09:36,880 --> 00:09:39,240 Speaker 1: to have a say and actually just get in there 175 00:09:39,280 --> 00:09:40,800 Speaker 1: and share a view. 176 00:09:41,320 --> 00:09:42,600 Speaker 2: Stand up, Paul Keating. 177 00:09:42,800 --> 00:09:46,160 Speaker 3: Absolutely, When the ACTU is asking the government for a 178 00:09:46,280 --> 00:09:49,000 Speaker 3: change to the policy, you suspect that actually the policy 179 00:09:49,200 --> 00:09:51,520 Speaker 3: is going to have to change. The two big issues 180 00:09:51,559 --> 00:09:54,800 Speaker 3: in the legislation are taxing of unrealized gains and the 181 00:09:54,800 --> 00:09:58,960 Speaker 3: potential for bracket creep. Yesterday, Prime Minister Anthony Alberonizi described 182 00:09:58,960 --> 00:10:02,319 Speaker 3: his plan to increase earnings tax on superbalances above three 183 00:10:02,320 --> 00:10:04,640 Speaker 3: million as very modest changes. 184 00:10:05,520 --> 00:10:09,880 Speaker 1: Adam Commonwealth Bank enters the financial year as easily Australia's 185 00:10:09,960 --> 00:10:14,240 Speaker 1: largest company twelve months ago, right cast your mind back there, 186 00:10:14,559 --> 00:10:18,160 Speaker 1: both Commonwealth Bank and BHP were about the same size. 187 00:10:18,480 --> 00:10:22,520 Speaker 1: Today Commonwealth Bank is about seventy percent bigger and worth 188 00:10:22,559 --> 00:10:27,080 Speaker 1: more than three hundred billion dollars. It's waiting in the 189 00:10:27,120 --> 00:10:31,200 Speaker 1: ASX two hundred has gone from nine percent to almost 190 00:10:31,320 --> 00:10:33,559 Speaker 1: twelve percent. These numbers are staggery. 191 00:10:34,120 --> 00:10:36,880 Speaker 3: They really are, Michael, and it's an enormous change in 192 00:10:37,040 --> 00:10:39,800 Speaker 3: only twelve months. It might not be the best performing 193 00:10:39,840 --> 00:10:42,720 Speaker 3: stock on the bas in share price terms, but if 194 00:10:42,760 --> 00:10:45,080 Speaker 3: you're take into account the number of shareholders, and that's 195 00:10:45,120 --> 00:10:48,959 Speaker 3: more than eight hundred thousand, of whom half are retail investors, 196 00:10:49,320 --> 00:10:52,080 Speaker 3: then it must be the most favored stock. It has 197 00:10:52,080 --> 00:10:54,440 Speaker 3: been an incredible year for the bank, which is almost 198 00:10:54,520 --> 00:10:57,240 Speaker 3: as big as the other three banks combined. In the 199 00:10:57,320 --> 00:11:01,000 Speaker 3: last financial year, Commonwealth Bank returned eight billion dollars in 200 00:11:01,040 --> 00:11:04,360 Speaker 3: buybacks and dividends. The average retail shareholder got back three 201 00:11:04,920 --> 00:11:08,400 Speaker 3: six hundred and eighteen dollars. That's quite an incredible return. 202 00:11:08,559 --> 00:11:11,400 Speaker 3: Seventy six percent of shareholders are Australian and he has 203 00:11:11,480 --> 00:11:15,520 Speaker 3: outperformed its peers in total shareholder return over one, five 204 00:11:15,840 --> 00:11:17,000 Speaker 3: and ten years. 205 00:11:17,200 --> 00:11:17,400 Speaker 2: Now. 206 00:11:17,480 --> 00:11:19,480 Speaker 3: None of this means it'll do it all again in 207 00:11:19,480 --> 00:11:20,520 Speaker 3: fiscal twenty six. 208 00:11:20,800 --> 00:11:22,720 Speaker 2: But it is a great success story. 209 00:11:22,960 --> 00:11:26,000 Speaker 1: Yeah, certainly is. I mentioned coffee at the top of 210 00:11:26,040 --> 00:11:29,960 Speaker 1: the show, Adam, and coffee prices surged to hit record prices, 211 00:11:30,360 --> 00:11:33,719 Speaker 1: record highs earlier this year. But the good news fact, 212 00:11:33,720 --> 00:11:35,880 Speaker 1: I would say, the great news is that the spike 213 00:11:35,960 --> 00:11:39,080 Speaker 1: has faded and prices are now down more than twenty 214 00:11:39,160 --> 00:11:42,600 Speaker 1: five percent since the February peak. A couple of things 215 00:11:42,640 --> 00:11:45,080 Speaker 1: going on here. Weather conditions in Brazil, which is the 216 00:11:45,080 --> 00:11:48,920 Speaker 1: world's biggest producer of coffee, great piece of trivia. They 217 00:11:48,960 --> 00:11:51,520 Speaker 1: are favorable and its harvest over the rest of this 218 00:11:51,800 --> 00:11:55,600 Speaker 1: year is expected to be big. Also, the geopolitical tension 219 00:11:55,840 --> 00:11:59,960 Speaker 1: weighs on demand. Believe it or not, it is just 220 00:12:00,640 --> 00:12:04,560 Speaker 1: extraordinary to think just how influential that geopolitical tension that 221 00:12:04,679 --> 00:12:08,000 Speaker 1: you think is so far removed from kind of coffee 222 00:12:08,000 --> 00:12:11,920 Speaker 1: growing in Brazil. But it does. It all has an effect. 223 00:12:11,679 --> 00:12:12,520 Speaker 2: Absolutely it does. 224 00:12:12,520 --> 00:12:14,520 Speaker 3: And while you're saying all of those words, Michael, I 225 00:12:14,559 --> 00:12:18,959 Speaker 3: am hankering for an espresso right now. So meanwhile, prices 226 00:12:19,000 --> 00:12:22,440 Speaker 3: are traded on the Intercontinental Exchange, and they're measured in 227 00:12:22,559 --> 00:12:26,080 Speaker 3: US dollars per pound at around US three dollars thirty 228 00:12:26,080 --> 00:12:29,000 Speaker 3: five per pound. Coffee prices are close to their twenty 229 00:12:29,080 --> 00:12:32,200 Speaker 3: twenty five lows. You mentioned Brazil, which is the world's 230 00:12:32,200 --> 00:12:36,160 Speaker 3: biggest producer of Arabica beans. The other big producer is Vietnam, 231 00:12:36,360 --> 00:12:40,560 Speaker 3: where it's robust beans and growing conditions are much better. 232 00:12:40,840 --> 00:12:45,240 Speaker 3: Think late Brazil versusn S Cafe Vietnam. The upshot of 233 00:12:45,280 --> 00:12:48,679 Speaker 3: this soon your barista can't blame coffee prices for an 234 00:12:48,679 --> 00:12:50,840 Speaker 3: increase in the cost of your favorite late. 235 00:12:51,160 --> 00:12:52,040 Speaker 2: That is good news. 236 00:12:52,240 --> 00:12:55,840 Speaker 1: Turning to international news, now, Israeli Prime Minister Benjaminett and Ya, 237 00:12:55,920 --> 00:12:58,560 Speaker 1: who is expected to meet with President Donald Trump at 238 00:12:58,600 --> 00:13:01,839 Speaker 1: the White House on July seven, as the US administration 239 00:13:02,080 --> 00:13:05,200 Speaker 1: urges an end to the war in Gaza and attempts 240 00:13:05,200 --> 00:13:08,920 Speaker 1: to secure the release of the remaining hostages held by Hermas. 241 00:13:09,200 --> 00:13:12,240 Speaker 3: Yes, Michael, and that came as at least twenty Palestinians 242 00:13:12,280 --> 00:13:15,640 Speaker 3: were killed in an Israeli airstrike that hit a popular 243 00:13:15,679 --> 00:13:19,840 Speaker 3: seafront cafe frequently used by activists, journalists, and local residents 244 00:13:20,080 --> 00:13:21,079 Speaker 3: in western Gaza. 245 00:13:21,640 --> 00:13:24,120 Speaker 1: Now, Adam, it's been a little while since we talked 246 00:13:24,120 --> 00:13:26,000 Speaker 1: about the rift between Donald. 247 00:13:25,640 --> 00:13:27,720 Speaker 2: Trump and it's been days plural. 248 00:13:28,000 --> 00:13:30,400 Speaker 1: It has been it's been four or five at least, 249 00:13:30,880 --> 00:13:34,280 Speaker 1: but it continues to deteriorate, like we might not be 250 00:13:34,320 --> 00:13:36,319 Speaker 1: talking about it, but doesn't mean it's not happening. It's 251 00:13:36,320 --> 00:13:38,800 Speaker 1: still kind of going on. In the background. The US 252 00:13:38,880 --> 00:13:42,600 Speaker 1: President is now calling on the DOGE agency, the Department 253 00:13:42,640 --> 00:13:45,680 Speaker 1: of Government Efficiency, which was the agency that was previously 254 00:13:45,720 --> 00:13:50,200 Speaker 1: headed up by Elon Musk himself. He wants DOGE to 255 00:13:50,280 --> 00:13:54,480 Speaker 1: scrutinize the billions in government subsidies that are flowing two 256 00:13:54,800 --> 00:13:58,640 Speaker 1: Musks companies. This was a truth social post, of course, 257 00:13:59,120 --> 00:14:03,160 Speaker 1: and in it, Donald Trump slammed Musk's support for an 258 00:14:03,200 --> 00:14:07,920 Speaker 1: electric vehicle mandate and claimed that without taxpayer support, Tesla 259 00:14:08,040 --> 00:14:11,839 Speaker 1: and SpaceX would collapse, and he even suggested that Musk 260 00:14:12,000 --> 00:14:14,840 Speaker 1: might have to quote head back home to South Africa. 261 00:14:15,400 --> 00:14:17,760 Speaker 3: Michael, this is a battle of a couple of titans, 262 00:14:17,840 --> 00:14:21,880 Speaker 3: isn't it now? Trump added, no more rocket launchers, satellites 263 00:14:21,960 --> 00:14:26,360 Speaker 3: or electric car production, and our country would save a fortune, fortune, 264 00:14:26,360 --> 00:14:29,840 Speaker 3: of course being capitalized. Musk responded on X, calling for 265 00:14:29,960 --> 00:14:33,280 Speaker 3: all subsidies to be scrapped. The fallout appears to stem 266 00:14:33,440 --> 00:14:36,960 Speaker 3: from Musk's criticism of Trump's sweeping tax and spending bill, 267 00:14:37,280 --> 00:14:41,760 Speaker 3: which is previously labeled a disgusting abomination that would destroy 268 00:14:41,960 --> 00:14:42,880 Speaker 3: millions of jobs. 269 00:14:43,400 --> 00:14:48,520 Speaker 1: Finally, Adam revolutionary diabetes pills, offering an alternative to popular 270 00:14:48,520 --> 00:14:52,080 Speaker 1: injectable treatments such as as MPIC, are a large step 271 00:14:52,160 --> 00:14:55,800 Speaker 1: closer after the release of phase three clinical trial data 272 00:14:56,200 --> 00:14:58,880 Speaker 1: for a new type of medicine that lowers blood sugar. 273 00:14:59,160 --> 00:15:02,440 Speaker 3: Once a day pill orpo Glipron was shown to imitate 274 00:15:02,520 --> 00:15:07,200 Speaker 3: a naturally occurring hormone that helps regulate blood sugar and appetite, 275 00:15:07,360 --> 00:15:09,320 Speaker 3: and this is according to the study published in the 276 00:15:09,360 --> 00:15:13,160 Speaker 3: prestigious New England Journal of Medicine. The results of the trials, 277 00:15:13,200 --> 00:15:16,840 Speaker 3: which involved five hundred adults with type two diabetes, were 278 00:15:16,880 --> 00:15:20,560 Speaker 3: unveiled at the American Diabetes Association Annual meeting in Chicago 279 00:15:20,640 --> 00:15:23,640 Speaker 3: over the weekend. The reported side effects were similar to 280 00:15:23,680 --> 00:15:27,360 Speaker 3: existing medications, while the drug company did not flag any 281 00:15:27,440 --> 00:15:31,640 Speaker 3: unexpected safety concerns. The trial focused on diabetes treatment and 282 00:15:31,720 --> 00:15:36,040 Speaker 3: not specifically on weight loss. Other oral diabetes medications do 283 00:15:36,160 --> 00:15:39,800 Speaker 3: already exist, but this medication is significant as it's the 284 00:15:39,840 --> 00:15:43,600 Speaker 3: first synthetic treatment to reach phase three trials, and that's 285 00:15:43,600 --> 00:15:44,920 Speaker 3: according to AAP. 286 00:15:45,040 --> 00:15:46,240 Speaker 1: Yeah pretty exciting stuff. 287 00:15:46,280 --> 00:15:46,560 Speaker 2: Okay. 288 00:15:46,600 --> 00:15:48,960 Speaker 1: Immediately after the show, we have an interview coming up 289 00:15:48,960 --> 00:15:52,600 Speaker 1: today speaking with Natalie Lennon, who is the founder and 290 00:15:52,680 --> 00:15:55,120 Speaker 1: director of Two Sides Accounting does a lot of work 291 00:15:55,160 --> 00:15:57,440 Speaker 1: with Zero as well as Zero as a supporter of 292 00:15:57,480 --> 00:15:59,920 Speaker 1: this podcast. We are taking a look at the fact 293 00:15:59,920 --> 00:16:01,880 Speaker 1: that we are now into the new financial year and 294 00:16:01,920 --> 00:16:03,640 Speaker 1: if you are running a business, if you're running a 295 00:16:03,640 --> 00:16:06,840 Speaker 1: small business, a small or medium sized business, there are 296 00:16:06,880 --> 00:16:09,080 Speaker 1: a lot of things that you can be doing right 297 00:16:09,120 --> 00:16:11,800 Speaker 1: now to set yourself up for success in the new 298 00:16:11,840 --> 00:16:14,480 Speaker 1: financial year. And also how you need to kind of 299 00:16:14,520 --> 00:16:17,360 Speaker 1: work with your accountant now to kind of wrap things 300 00:16:17,440 --> 00:16:19,120 Speaker 1: up to make sure that everything is kind of put 301 00:16:19,160 --> 00:16:21,400 Speaker 1: away from last year and that you are working at 302 00:16:21,440 --> 00:16:25,480 Speaker 1: maximum efficiency. But it's all about maximizing the opportunities in 303 00:16:25,560 --> 00:16:28,600 Speaker 1: this year, which is kind of that's your jam, isn't it, Adam. 304 00:16:29,040 --> 00:16:31,000 Speaker 2: Yes, Michael, it is my jam. 305 00:16:31,400 --> 00:16:33,880 Speaker 3: I love the name Two Sides Accounting, you know, balance sheet, 306 00:16:33,920 --> 00:16:36,360 Speaker 3: P and L and they are two sides to every story. 307 00:16:36,400 --> 00:16:38,800 Speaker 3: I thought, great name, and it's a really good interview. 308 00:16:38,960 --> 00:16:40,840 Speaker 1: Yeah, it is a good chat. It is coming up 309 00:16:40,880 --> 00:16:42,880 Speaker 1: in just a moment in the Fear and Greed playlist 310 00:16:42,920 --> 00:16:45,840 Speaker 1: on your podcast platform or at Fearangreed dot com dot au. 311 00:16:46,200 --> 00:16:47,760 Speaker 2: Thank you Adam, Thank you Michael. 312 00:16:47,840 --> 00:16:50,480 Speaker 1: It's Wednesday, the second of July twenty twenty five. Make 313 00:16:50,520 --> 00:16:52,800 Speaker 1: sure you're following the podcast and please join us online 314 00:16:52,800 --> 00:16:56,320 Speaker 1: on LinkedIn, Instagram, ex TikTok and Facebook. Michael Thompson, and 315 00:16:56,360 --> 00:17:00,160 Speaker 1: that was Fear and Greed. Have a great day.