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

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Speaker 1: Quantas is among nearly forty global companies hit by a

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Speaker 1: major cyber attack. More problems for the government over Optus

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Speaker 1: and Tesla releases cheaper versions of its electric vehicles. Plus

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Speaker 1: Chinese car manufacturers continue their rise in Australia, while there's

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Speaker 1: bad news for renters with housing costs on the up.

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Speaker 1: It's Thursday, the ninth of October twenty twenty five. I'm

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Speaker 1: Adam Lang and good morning sew Ailmer.

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Speaker 2: Good morning Adam.

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Speaker 1: The main story this morning Quantas has been caught up

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Speaker 1: in a massive cyber attack that's hit thirty nine companies

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Speaker 1: around the globe, and hackers are threatening to leak sensitive

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Speaker 1: passenger data unless ransoms are paid by tomorrow night.

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Speaker 2: Hack, a collective Scattered Laps ofs Dollar Hunters, that's a

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Speaker 2: name of it, Scattered Lapsist Dollar Hunters, claims to have

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Speaker 2: stolen almost one billion records by targeting customers of cloud

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Speaker 2: technology Giant Force. It's been vishing or voice phishing. The

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Speaker 2: ishi g vishing, whereby hackers posts as legitimate employees and

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Speaker 2: call company it help desks convince unsuspecting staff to grant

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Speaker 2: them access. Companies caught up include Quantus, Toyota, Google, ad, Sansisco,

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Speaker 2: Disney Air France, KLM, and Ikea. The stolen data reportedly

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Speaker 2: includes customers dates of birth, passport numbers, and purchase histories

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Speaker 2: collected between April twenty twenty four and this month. Quantus

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Speaker 2: said it's aware of a post that contains samples of

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Speaker 2: data stolen from itself and about forty other companies. According

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Speaker 2: to a report in nine Medium stay j a VU

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Speaker 2: for Quantas. On June thirty, cyber criminals access to nearly

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Speaker 2: six million customer accounts for a third party vendor at

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Speaker 2: a Quantus call center in Manila. The airline later confirmed

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Speaker 2: that five point seven million customers had their information accessed,

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Speaker 2: including named phone numbers, business phone numbers and addresses.

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Speaker 1: Sean. This massive hacked shows it once again the most

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Speaker 1: at risk part of a company's technology security is human interaction,

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Speaker 1: and in this instance, rather than directly hacking salesforces systems,

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Speaker 1: which remained secure, the hackers exploited the human element. But

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Speaker 1: how did they do it? Talk us from the mechanics

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Speaker 1: of it?

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Speaker 2: Okay, so using voice phishing calls. Fishing calls new term

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Speaker 2: to me. Yeah, so Phi, s Hi and G It's

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Speaker 2: I mean, it's been around for many years. It's kind

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Speaker 2: of how you know, it's like phishing. They're just trying

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Speaker 2: to find a weak link, so they're using these voice

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Speaker 2: phishing calls. They convinced it help desk staff to install

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Speaker 2: what appeared to be legitimate software, a modified version of

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Speaker 2: Sales Forces Data Loaded tool. Once installed all over red Rover,

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Speaker 2: the trojan Horse, gave hackers unfettered access to customer databases.

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Speaker 2: The scattered laps of Stellar Hunter's collective has already claimed

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Speaker 2: responsibility for earlier attacks on British retailers including Marx and

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Speaker 2: Spencer and Jaguar Landrover. Security researchers at Google's Threat Intelligence Group,

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Speaker 2: which one of the world leaders on this sort of stuff,

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Speaker 2: they warned the group has proven particularly effective at tricking employees.

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Speaker 2: Analysts say that the hackers technical infrastructure suggests ties to

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Speaker 2: what's known as the com which is a loosely organized

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Speaker 2: cyber criminal ecosystem comprising small, disparate groups known for increasingly brave,

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Speaker 2: brazen attacks and in some cases violent activity.

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Speaker 1: And apparently sean really well organized.

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Speaker 2: Yeah, I mean to be able to do this and

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Speaker 2: convince so many people to add the gay Trajan horse

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Speaker 2: in Yeah, incredible.

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Speaker 1: Incredible, Sean. The s and p ASEX two hundred closed

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Speaker 1: slightly lower yesterday at eight nine hundred and forty eight points,

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Speaker 1: and it was the consumer discretionary stocks leading the market south.

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Speaker 2: Yes, that followed a good day for those stocks on Tuesday.

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Speaker 2: The market can be very fickle, Adam. I think that's

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Speaker 2: a lesson we learned yesterday. Yes. Among the large caps yesterday,

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Speaker 2: at least West Farmer's, Aristocrat Leisure, and Telstra were the

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Speaker 2: worst performers. QBA E Sigma Health can Rio tinto the

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Speaker 2: best couple of notables. Mesoblast rallied nine percent after reporting

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Speaker 2: US revenues for royalzel Its therapy to treat children for

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Speaker 2: complications that could occur during bone marrow transplants, had increased

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Speaker 2: by sixty six percent in the September quarter. Its share

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Speaker 2: price is almost doubled since it's lows in June. Mind you,

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Speaker 2: it's only back to where it was at the beginning

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Speaker 2: of the year. And James Hardy's share price jump ten

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Speaker 2: percent yesterday after upgrading its sales and earnings forecast. Chief

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Speaker 2: executive Aaron Uta said the integration of US based Azek

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Speaker 2: is on track. Hardy's share price, notwithstanding yesterday's rise, is

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Speaker 2: off almost twenty percent this year.

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Speaker 1: Sean you predicted it only yesterday. Gold has pushed through

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Speaker 1: US four thousand dollars an ounce, driven by investors seeking

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Speaker 1: safety from economic and geopolitical uncertainty, alongside expectations of further

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Speaker 1: interest rate cuts by the US Federal Reserve.

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Speaker 2: So Spot gold yesterday hit an all time high. This

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Speaker 2: is in US dollars of four thousand dollars and ninety

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Speaker 2: six cents an ounce. Gold futures for December delivery reached

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Speaker 2: four twenty US dollars proounce, unheard of figures just twelve

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Speaker 2: months ago. Spot Gold's up fifty two percent year to

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Speaker 2: date after rising twenty seven percent last year. A bunch

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Speaker 2: of factors in this higher central bank purchases, high institutional purchases,

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Speaker 2: renewed interest in gold backed exchange traded funds, softer US dollars,

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Speaker 2: resilient dollar, resilient retail demand that's fueled the medal's bullish run.

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Speaker 2: Fair bit of fomo going on there too, Adam, and

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Speaker 2: people people jumping in others worrying that they're going to

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Speaker 2: miss out. They're jumping in as well. So anyway, Gold

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Speaker 2: four thousand US dollars announce. I well, I thought maybe

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Speaker 2: i'd said in my lifetime, but I didn't think i'd

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Speaker 2: seen in my working lifetime. And it's just phenomenal what

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Speaker 2: Gold has done.

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Speaker 1: Yeah, Gold's luster continues shorten. We'll be back in a

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Speaker 1: moment with the rest of the day's business news. Sean.

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Speaker 1: A further wrinkle in the Optus Triples zero outage is

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Speaker 1: causing Communications Minister Annika Wells more headaches. Emails from Optus

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Speaker 1: notifying the Federal Communications Department of the Telco Group's Triples

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Speaker 1: zero outage on September eighteen were sent to the wrong

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Speaker 1: email address.

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Speaker 2: OUCH Officials from the Communications Department said OPTAs sent an

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Speaker 2: initial email alerting them of an outage at two forty

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Speaker 2: five pm on September eighteen, which was followed by another

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Speaker 2: email seven minutes later saying it had been resolved, but

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Speaker 2: the department was not aware of the outage because the

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Speaker 2: inbox that the emails were sent to was no longer

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Speaker 2: in use. As a result, the department was not aware

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Speaker 2: of an outage, in fact, that an outage actually occurred

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Speaker 2: until twenty four hours later. The afternoon of September nineteen

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Speaker 2: when it was informed by the Australian Communications and Media Authority.

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Speaker 2: In Parliament yesterday, Wells was asked about when she knew

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Speaker 2: about the outage, given she was about to head to

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Speaker 2: New York. She's been criticized for going to New York

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Speaker 2: in the midst of this album in the aftermath of

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Speaker 2: the utage. She responded saying she became aware of the

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Speaker 2: outage at about four point thirty pm on nineteen September.

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Speaker 2: She then delayed her trip. Wells also said the initial

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Speaker 2: information she got from Optics was actually incorrect. The opposition

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Speaker 2: again very very hard on this one.

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Speaker 1: Adam Sean. Australia and Singapore have committed to closer ties,

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Speaker 1: with Prime Minister Anthony Alberizi and his Singaporean counterpart, Lawrence

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Speaker 1: Wong launching an upgraded comprehensive strategic partnership.

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Speaker 2: This year mark sixty years of diplomatic relations between the

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Speaker 2: two countries the ten years of a comprehensive strategic partnership. Yesterday,

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Speaker 2: Albanizi called it Comprehensive Strategic Partnership two point zero. It

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Speaker 2: aims to increase defense cooperation, expand economic partnerships on supply

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Speaker 2: chains and deepen cultural ties. Prime Minister wog from Singapore

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Speaker 2: said the partnership will seek to give Australia a greater

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Speaker 2: access to his country's air and naval bases.

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Speaker 1: Sean Singapore's story over the last one hundred years is

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Speaker 1: really quite amazing.

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Speaker 2: Yeah, talk about a country that understood its competitive advantage,

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Speaker 2: which is basically its location port facilities and made the

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Speaker 2: most use of it. Phenomenal shown.

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Speaker 1: The takeoff of a REX flight from Adelaide to Broken

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Speaker 1: Hill had to be aborted yesterday, resulting in a small

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Speaker 1: fire in an engine.

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Speaker 2: The carrier said the flight experienced a cockpit indication associated

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Speaker 2: with the aircraft's left engine during takeoff. The pilots abordered

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Speaker 2: the takeoff and vacated the runway. Now in cordance with

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Speaker 2: standard operating procedures, REX crew shut down the left engine.

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Speaker 2: As a result, small amount of unburnt fuel ignited in

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Speaker 2: the left hand engine's exhaust pipe for a brief period

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Speaker 2: or passengers and crew fortunately disembarked the aircraft without incident.

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Speaker 1: Swiss mining giant Glencore's smelter at Mount iSER will get

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Speaker 1: a six hundred million dollar bailout in a three year

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Speaker 1: funding deal from the Commonwealth and Queensland governments.

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Speaker 2: It's a three year package involving separate two hundred million

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Speaker 2: dollar parcels. The Commonwealth and Queensland governments of providing the

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Speaker 2: funds on a fifty to fifty basis. The deal were

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Speaker 2: preserved nearly six hundred jobs in Queensland's Northwest, plus another

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Speaker 2: five hundred jobs in local community around the Smeltum. Prime

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Speaker 2: Minister Anthony Alberanezi said the deal reinforces Australia's position as

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Speaker 2: a key global supplier of copper and in this century,

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Speaker 2: part of the transition of clean energy requires a great

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Speaker 2: use of koba, so it's a good deal. That's according

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Speaker 2: to the pm.

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Speaker 1: Sean September proved a boom month for car sales, with

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Speaker 1: nearly one hundred and two thousand units shifted. While it

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Speaker 1: was up more than five percent on the last September result,

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Speaker 1: overall sales in twenty twenty five are actually lower.

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Speaker 2: Yes. What was interesting from these figures China's rise as

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Speaker 2: a source of new cars continued in September. It's now

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Speaker 2: the second largest country of origin. In addition, China accounts

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Speaker 2: for about seventy seven and a half percent of all

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Speaker 2: battery electric vehicle sales this year. Amazing Batterly, electric vehicles

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Speaker 2: sales from all sources make up about eleven percent of

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Speaker 2: sales across the country. Plug in hybrids comprise about four

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Speaker 2: percent or a little bit over four percent. According to

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Speaker 2: the Federal Chamber of Automotive Industries. There are now more

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Speaker 2: than one hundred battery electric vehicles and fifty plug in

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Speaker 2: hybrids available on the market in Australia. Isn't that phenomenal.

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Speaker 2: Jieta was a gain market leader, followed by Ford, Kia,

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Speaker 2: Mazda and Hyundai.

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Speaker 1: Every day traveling Sean, I'm thinking, I'm seeing this in

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Speaker 1: front of my eyes. It's just the changing nature. Vehicles

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Speaker 1: on the road.

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Speaker 2: Yeah, and manufacturers you've never heard of, suddenly you see

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Speaker 2: them in front of you.

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Speaker 1: Sean to home prices now, and as they have accelerated

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Speaker 1: across the country, so too are rents, with the totality

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Speaker 1: Rental Value Index rising the most during the September quarter

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Speaker 1: since June last year.

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Speaker 2: The past year, rents through up four point three percent,

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Speaker 2: having hit a four year low a few months back. Now,

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Speaker 2: of course, that's well above the rate of inflation. Brisbane

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Speaker 2: and Sydney led the uptick, with while Adelaide was the

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Speaker 2: only city to see growth ease. The persistent shortage in

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Speaker 2: rental supply is spurring the higher rents, highlighted by the

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Speaker 2: record low vacancy rate scene nationally in September. In dollar terms,

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Speaker 2: the median rental value across THEU strat As and bind

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Speaker 2: Capital cities last month was seven hundred and two dollars

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Speaker 2: per week. By comparison, regional rents remain somewhat more affordable,

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Speaker 2: holding blonde below the six hundred dollar mark, with a

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Speaker 2: typical region dwelling renting for five hundred and ninety one

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Speaker 2: dollars per week, but more than seven hundred dollars per week.

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Speaker 2: I'm not surprised my children is still living at home.

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Speaker 1: And sure, in my case, we may both be doing

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Speaker 1: that for some time yet.

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Speaker 2: I mean, but at least my children are adult children.

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Speaker 2: You're trying to get rid of your kids and they're

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Speaker 2: still at school.

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Speaker 1: Seven hundred and two dollars a week. That is so

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Speaker 1: much money to come up with just for somewhere to live.

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Speaker 2: Yeah, sure is.

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Speaker 1: Let's move on to international news. Chat GPT maker open

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Speaker 1: Ai will buy billions of dollars worth of chips from

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Speaker 1: Nvidia competitor AMD as part of a data center deal

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Speaker 1: that's inspiring AI confidence and maybe bubble concerns.

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Speaker 2: So this is getting confusing. He open ae will buy

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Speaker 2: enough AMD over the next several years to generate six

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Speaker 2: gigawatts of power in a bid to boost its computing

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Speaker 2: capacity for chap GPT. Now, according to the Guardian, that's

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Speaker 2: about as much energy as five million US households use

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Speaker 2: in a year. We are talking about a huge amount.

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Speaker 2: As part of the deal, open Ai obtains the rights

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Speaker 2: to buy about ten percent of AMD for one cent

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Speaker 2: per share if open Ai hit certain milestones and if

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Speaker 2: AMD stock price rises. What it does do is give

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Speaker 2: AMD credibility, and that's a significant boost because obviously open

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Speaker 2: ai dealing with AMD helps AMD. The question, and on's

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Speaker 2: are really asking, is how open ai is going to

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Speaker 2: pay for it all. The deal comes with AMD after

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Speaker 2: open Ai, so it would invest three hundred billion dollars

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Speaker 2: to purchase four point five gigawats of cloud computing power

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Speaker 2: from software giant Oracle. It also comes after open ai

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Speaker 2: did a multi billion dollar deal with Nvidia. The idea

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Speaker 2: there the latter Nvidia invested into open Ai. Open Ai

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Speaker 2: then plans to spend that money on n video chips,

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Speaker 2: so a lot of circularity in all this. The numbers

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Speaker 2: are huge, But this is certainly a great deal for

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Speaker 2: AMD so long as open ai can pay up.

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Speaker 1: Yeah, and as long as our use of AI keeps growing, right.

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Speaker 2: Yeah, Well, I mean that seems to be unquestioned.

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Speaker 1: Now.

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Speaker 2: I'm not saying it's a good thing. I'm just saying

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Speaker 2: it's interesting that it's unquestioned, because you know, surely all

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Speaker 2: new technologies have to be questioned, even once as good

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Speaker 2: as AI.

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Speaker 1: Sure. Tesla has unveiled stripped down versions of its best

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Speaker 1: selling SUVs and sedans as it pushes to boost sales

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Speaker 1: following the lapsing of US government incentives for consumers to

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Speaker 1: buy evs.

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Speaker 2: So Tesla has launched a standard Model Y and Model

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Speaker 2: three that lack features like vegan leather seats and power

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Speaker 2: justice steering oels, hoping to draw in budget conscious buyers.

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Speaker 2: The standard Model three cost just under thirty seven thousand

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Speaker 2: US dollars. Standard model wires just under forty thousand US dollars,

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Speaker 2: basically puts them among the least expensive e for sale

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Speaker 2: in the US. The lower cost Model Y replaces a

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Speaker 2: light bar across the front for two conventional headlights, has

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Speaker 2: a different roof design. Both vehicles come with cloth seats,

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Speaker 2: no AMFM radio, oh dear Yes, no back row screen,

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Speaker 2: and fewer speakers than more expensive variants, among other changes.

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Speaker 2: Both vehicles also offer slightly less battery performance than pricier versions,

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Speaker 2: but they do outperform other models in Tesla's lineup. The

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Speaker 2: Model Wire has become one of the world's best selling cars,

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Speaker 2: rivaling Toyatas Corolla.

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Speaker 1: Yeah. Well, let's hope more options better news for consumers.

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Speaker 2: Right, I hope, sir.

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Speaker 1: Yeah. Up next is the firm Greed Q and A

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Speaker 1: with Brooke Donnelly from Coals. Sean tell Us about this interview, Well, it's.

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Speaker 2: All about the circular economy and what Coals is doing.

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Speaker 2: It's a really interesting chat. Supermarkets, very very competitive space

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Speaker 2: cols v Woollies, v LDV, costco, et cetera. What's really

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Speaker 2: interesting is how the supermarket change, with the blessing of

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Speaker 2: the HBC, are actually working together on some of these

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Speaker 2: issues to lower wastage, food wastage, reduce use of soft plastics.

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Speaker 2: It's fascinating what they're doing and it's great chat.

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Speaker 1: Oh great, that's up next to the Fair and Greed

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Speaker 1: playlist on your podcast platform or at Feirngreed dot com

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Speaker 1: dot au. Thank you, Sean, thank you Adam. It's Thursday,

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Speaker 1: the ninth of October twenty twenty five. Make sure you're

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Speaker 1: following the podcast. Join us online on LinkedIn, Instagram, x

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Speaker 1: TikTok and Facebook. We're on all of them. And please

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Speaker 1: have a great day.