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Speaker 1: Today on Fear and Greed. Energy Giant Woodside will spend

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Speaker 1: twenty seven billion dollars developing an LNG plant in Louisiana

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Speaker 1: in the south of the US, which would put it

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Speaker 1: among the major global gas producers. James Packer sets a

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Speaker 1: suburb record after selling a mansion in Beverly Hills, and

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Speaker 1: one hundred days of Donald Trump, plus the latest political

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Speaker 1: news ahead of Saturday's election, and the former boss of

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Speaker 1: Virgin Australia to take over Dan Murphy's owner in Devor Group.

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Speaker 1: Welcome to Fear and Greed, daily business news for people

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Speaker 1: who make their own decisions. It is Wednesday, the thirtieth

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Speaker 1: of April twenty twenty five. I'm Michael Thompson and good

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Speaker 1: morning Sean Aylmer.

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Speaker 2: Morning, Michael.

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Speaker 1: I am almost out of breath. It is such a

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Speaker 1: jam packed show today and it's also Sean a jam

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Speaker 1: packed daily newsletter today.

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Speaker 2: It sure is gives you the five stories that you

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Speaker 2: really do need to know about before you hit the

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Speaker 2: desk this morning, a little bit of commentary from me,

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Speaker 2: some interesting stuff on airfares plenty in it this morning.

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Speaker 1: Yeah, it's a really good addition. If you haven't signed

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Speaker 1: up for it already head along to fearangreed dot com

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Speaker 1: dot au. I'll put a link in today's show notes

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Speaker 1: as well. And the thing is it is entirely free

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Speaker 1: and it is in your inbox every morning by six o'clock.

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Speaker 1: Showing on with the main story, Woodside Energy will push

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Speaker 1: ahead with its twenty seven billion dollar LNG plant in Louisiana,

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Speaker 1: which will really put the group into the legion of

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Speaker 1: global gas giants. This is this is big.

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Speaker 2: It's huge. Once producing gas and Louisiana, Woodside could provide

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Speaker 2: more than five percent of the world's LNG supply. The

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Speaker 2: board of Woodside green lighted the seventeen billion US that's

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Speaker 2: about twenty seven billion Aussie project, and it's due to

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Speaker 2: be completed in twenty twenty nine. The decision to proceed

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Speaker 2: comes after Woodside sold a forty percent steak in the

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Speaker 2: Gulf Coast development to a crowd called stone Peak. It's

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Speaker 2: an American infrastructure and real estate investor. The figures are

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Speaker 2: just huge now. Chief executive Meg O'Neill said that is

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Speaker 2: a game changer for Woodside. She said it will position

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Speaker 2: the company as a global LNG powerhouse and enable it

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Speaker 2: to deliver and during shareholder returns. Woodside will commit about

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Speaker 2: twelve billion dollars to building the Louisiana project, which has

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Speaker 2: a lifespan of more than four decades. Stone Speak will

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Speaker 2: fund the rest. Woodside share price jumped almost one percent

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Speaker 2: on the news.

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Speaker 1: There's a bit, there's a lot in this right it

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Speaker 1: is a mega deal, arguably full of risk. Is it

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Speaker 1: unusual Sean to be signing off on such a massive

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Speaker 1: deal right now given the somewhat volatile Trump world that

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Speaker 1: we live in.

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Speaker 2: Somewhat volatile. It is a bet on Donald Trump in

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Speaker 2: some respects. While there's plenty of uncertainty around the place.

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Speaker 2: Woodside's hoping that the administration will push ahead with plans

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Speaker 2: to burst energy exports from the US. If they do that,

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Speaker 2: Woodside is well placed. Now you think, you know, drill,

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Speaker 2: baby drill.

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Speaker 1: That's fairly clear, and that was the president's own words.

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Speaker 2: Yeah, and I mean drill, baby drill. That suggests there's

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Speaker 2: going to be this gte of oil and potentially gas

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Speaker 2: on the market. So that should depress that could depress prices.

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Speaker 2: I think what Woodside is sort of saying, and the

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Speaker 2: more realistic view is that the White House won't get

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Speaker 2: in the way of commercial decisions around oil and gas,

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Speaker 2: and that's probably paid in too. Mego O'Neill's thoughts there

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Speaker 2: beyond that, Given it takes years to get these projects

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Speaker 2: fully operational. This one's twenty twenty nine, which is actually

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Speaker 2: after Donald Trump leaves office. It's a bet that Trump

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Speaker 2: has changed the world forever now. Megan and Eil yesterday

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Speaker 2: said there's already heightened interest in buying L and G

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Speaker 2: from the US. There's also the environmental part of the story,

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Speaker 2: and it's a big one. There have been stories in

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Speaker 2: recent weeks of an outflow of funds from environmentally based ETFs.

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Speaker 2: People aren't investing into the environment story like there were

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Speaker 2: a couple of years ago. Now, LL and G is

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Speaker 2: a transition energy, it is not a green energy. So

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Speaker 2: Woodside is betting that the reversion away from the investing

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Speaker 2: in the environment, alongside the fact that it's taking a

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Speaker 2: long time for many economies to transition, will hold it

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Speaker 2: in good stead. The lifespan of this is about twenty

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Speaker 2: seventy so that's a long time. You know, that's more

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Speaker 2: than forty years forty five years that L and D

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Speaker 2: should be produced from this ascid by Woodside, So They

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Speaker 2: clearly think there's a role for gas for a long

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Speaker 2: way to go.

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Speaker 1: It's a big story, and you've got to admire the courage.

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Speaker 1: I suppose to Meg O'Neil and the board to basically

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Speaker 1: just go, yep, we are all in. We are going

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Speaker 1: to commit to this.

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Speaker 2: Yeah. I mean incredible amounts of money, sharehold of money,

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Speaker 2: and they're game for it's so good luck to them.

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Speaker 1: Indeed, at local markets, how do they perform?

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Speaker 2: Yesterday, it's a great day. The SPISX two hundred closed

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Speaker 2: up at a two month high, notwithstanding a pretty ordinary

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Speaker 2: night on Wall Street. The balls ended up nearly one

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Speaker 2: percent to eight thousand and seventy one points four consecutive

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Speaker 2: days of rises.

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Speaker 1: Michael.

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Speaker 2: Good day for the tech stocks and Weis Tech led

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Speaker 2: the way there so for the property companies Goodman Group

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Speaker 2: and Mervak. But the big murders again were the uranium stocks.

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Speaker 2: Now about a week ago they've been sold down. Since then,

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Speaker 2: they are on a tear. So Boss Energy, Deep Yellow,

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Speaker 2: Paladin Energy, Paladin Energy all up around ten percent yesterday.

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Speaker 2: Paladin's up more than forty percent in just five trading sessions.

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Speaker 1: Quite the run, yeah, indeed, and the Aussie dollar sean

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Speaker 1: has hit a new high for twenty twenty five at.

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Speaker 2: Least Yes, well a week greenback helped the local unit

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Speaker 2: push towards sixty four and a half at US sense

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Speaker 2: confusion over exactly what the tariff policy is around the

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Speaker 2: place mean has put pressure on the US dollar. The

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Speaker 2: latest on that, US Treasury Secretary Scott Besant said America

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Speaker 2: is focusing on talks with nations other than China, and

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Speaker 2: the administration also said it's reduced the impact of automotive

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Speaker 2: tariffs by alleviating some duties and posts on foreign parts.

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Speaker 2: Well that's good, but I mean, it's very hard to

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Speaker 2: know what anyone makes he means when it comes out

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Speaker 2: of the White House. At plenty going on in markets,

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Speaker 2: even bigger day to day though, of course it's inflation

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Speaker 2: day March Court. A CPI that comes in with an

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Speaker 2: underlying kind of annualized six month rate, there's a lot

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Speaker 2: in that. If we reckon the underlying rates running at

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Speaker 2: about two and a half two point six two point seven,

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Speaker 2: is likely to be a rate cut three weeks.

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Speaker 1: Do you get excited on days like this?

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Speaker 2: Yeah, it's great. It is great.

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Speaker 1: It genuinely is. I can see it in your face,

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Speaker 1: so that it's one of those days where you actually

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Speaker 1: hang out for the release of the data.

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Speaker 2: Yeah, because it really should tell us. I mean, in

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Speaker 2: twenty four hours are we seeing here say well, there's

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Speaker 2: a bit of this, there's a bit of that, because

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Speaker 2: that's what economics does to you. But assuming it's not

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Speaker 2: really bad, it should open the way for a rate cut.

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Speaker 1: It's exciting and we'll have all of the details later

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Speaker 1: today as well, Sean. We've got so much still to

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Speaker 1: get through. Massive show today. We'll be back in a

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

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Speaker 1: The election campaign continues, with the respective leaders nursing babies

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Speaker 1: and dogs, and protesters disrupting both sides of politics, and

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Speaker 1: an attack on Opposition leader Peter Dutton's electoral office.

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Speaker 2: He welcome to country debate, I got a run While

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Speaker 2: both sides, Chris sized the other over spending initiatives, particularly

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Speaker 2: in the wake of the S and P Ratings Agency

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Speaker 2: warning about a potential down grade of Australia's triple A

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Speaker 2: credit rating. Opposition leader Peter Dutton was in Gilmour, the

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Speaker 2: most marginal seat in New South Wales. He was giving

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Speaker 2: a talk when anti nuclear protesters interrupted him. That was

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Speaker 2: probably the biggest interruption of the day. Also, a teenage

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Speaker 2: girl was arrested after a late night graffiti blitz at

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Speaker 2: one of Dutton's Queensland officers. I mean, three days to go,

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Speaker 2: I reckon it's a bit of a yeah election at

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Speaker 2: this point, like normally it bills and I thought it

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Speaker 2: would build in this last week. But if you go

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Speaker 2: through everything happened yesterday, I mean there were awkward moments

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Speaker 2: and quite lovely moments. And you actually pointed out off

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Speaker 2: here that Peter Dunton was holding a baby. It was

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Speaker 2: very comfortable holding a baby. It was just like a

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Speaker 2: nice because of his image to see him holding a baby. Absolutely,

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Speaker 2: Anthony ABERNIZI was holding a dog. Awkward. That dog didn't

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Speaker 2: want to be there, and I'm not sure that Alberanzi

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Speaker 2: wanted to.

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Speaker 1: That's ill advised to be holding. I mean, babies is

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Speaker 1: one thing a dog. Anything can go.

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Speaker 2: Baby has a n affyday three days ago though, really

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Speaker 2: Anthony Alberzi is still in prime position to win.

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Speaker 1: Indeed, former Virgin Australian boss Jane Herdliker will be the

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Speaker 1: new CEO of Endeavor Group. The beleaguered pubs and liquor

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Speaker 1: store business that has promised plenty but really failed to

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Speaker 1: deliver for shareholders.

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Speaker 2: Clearly, Jane Heard is not a fan of easy jobs.

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Speaker 2: She started a Day to Milk, did a really good

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Speaker 2: job there, then jumped into the Virgin business when it

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Speaker 2: went into private equity hands. She is now at Endeavor,

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Speaker 2: well she will be from January one next year. Interesting

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Speaker 2: what she didn't actually succeed doing it Virgin was get

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Speaker 2: a float away. She did actually get the airline back

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Speaker 2: up and running, but it hasn't listed on the AX

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Speaker 2: yet now and Deva, the owner of Dan Murphy's BWS

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Speaker 2: and a bunch of pubs, were spun out of all

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Speaker 2: Wards in twenty twenty one. Its share price today is

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Speaker 2: about two thirds of what it was when it's listed.

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Speaker 2: Has really struggled, particularly in its Dan Murphy's BWS business,

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Speaker 2: and Deva now has a new chair, two new non executives,

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Speaker 2: and in incoming CEO. Shareholders have been agitating, particularly Bruce Matheson,

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Speaker 2: who owns fifteen percent of it, for a change in direction.

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Speaker 2: I'd imagine that's exactly what they'll get with Janehrdliker. Her

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Speaker 2: goal really will be to turn around the pubs, get

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Speaker 2: the bottle shops firing again, and sort of shift the

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Speaker 2: business away from the mothership, which is Woollie's because you

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Speaker 2: remember last year when the Woollies distribution centers went down,

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Speaker 2: never suffered, so it's it really does need a strategic uplift,

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Speaker 2: shall we say?

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Speaker 1: Yep?

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Speaker 2: Its share price is that one percent yesterday?

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Speaker 1: For an interesting take on all of this, you are

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Speaker 1: speaking after the show today with Johannes Fall from Morning Star.

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Speaker 2: Yeah, so we ask him about Endeavor and what Dane

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Speaker 2: Herdlocker brings to the party. He has a very funny response,

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Speaker 2: not what I expected at all, and he goes through

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Speaker 2: why and Neva has underperformed. He sort of talks about

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Speaker 2: why he thinks price at the moment, I mean there's

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Speaker 2: some value in Endeavor, and then we kick into JB

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Speaker 2: hi Fi and Woolli's and Coals and other stocks like that.

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Speaker 1: It is a really good chat.

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Speaker 2: Yeah, great chat.

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Speaker 1: Yeah, it covers a whole lot of stuff, so stick

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Speaker 1: around for that. One is coming up after the show.

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Speaker 1: Rio Tinto says it is uncertain whether it can continue

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Speaker 1: to operate its Belbay aluminium smelter after spending six years

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Speaker 1: unsuccessfully negotiating a new power to play agreement with the

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Speaker 1: Tasmanian government. Six years is a very time, especially when

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Speaker 1: it doesn't actually end in a positive result.

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Speaker 2: Yeah, Like, aluminium smelters are really big power consumers. In fact,

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Speaker 2: they're the biggest of the manufacturers, and RIO wants to

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Speaker 2: go green. They've got decarbonization agenda. The Bell based smelter

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Speaker 2: in Tasmania is the only one of its smelters in

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Speaker 2: Australia which actually uses renewable energy. So that's why RIO

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Speaker 2: is so keen to get this one going. It's got

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Speaker 2: eight months before its existing deal with the state government's

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Speaker 2: Hydro Tasman with the State Government's Hydro Tasmania expires. According

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Speaker 2: to the finn Review, Yakub stays home. The chief executive

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Speaker 2: has promised to work towards a viable low carbon future

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Speaker 2: for its Australation smelters one in New Zealand three here,

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Speaker 2: though certainly his patience is being tested on this one.

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Speaker 2: He's also facing a decision on the future of the

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Speaker 2: New South Wales Tomago smelter in coming months. So you're

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Speaker 2: gonna ask me a question, You got your hand up

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Speaker 2: going to.

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Speaker 1: Say sure, it's Tomago or is it Tomogo?

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Speaker 2: It's Tomoga.

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Speaker 1: Yeah, there you go.

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Speaker 2: That's right, Thank you, Michael. That's what I'm here for anyway,

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Speaker 2: Tomoga Bell Bay. They're negotiating, Sean.

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Speaker 1: Can we talk about James Packer. Yes, it's pretty much

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Speaker 1: withdrawn from the public eye, but this has definitely put

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Speaker 1: him back into the headlines. This one. He has sold

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Speaker 1: his Beverly Hills mansion for ninety three million dollars and

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Speaker 1: what is reportedly the most expensive property deal in the

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Speaker 1: suburb this year.

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Speaker 2: Now, well, I don't know whether he needed the cash,

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Speaker 2: right he earlier in the year he bought a mega

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Speaker 2: mansion in a neighboring suburb for one hundred and seventy

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Speaker 2: four million dollars.

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Speaker 1: It doesn't need to do No, he doesn't.

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Speaker 2: He doesn't. He calls Los Angeles home. Nowadays. The mansion

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Speaker 2: he has just old has twelve bedrooms, eighteen bathrooms. I mean,

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Speaker 2: how many cans? Do you know?

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Speaker 1: What's what is the likelihood of every single one being

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Speaker 1: in new at the same time and the dust like

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Speaker 1: if you just have like like a massive like curry

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Speaker 1: function or something. I'm living on Mexican cis it hits.

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Speaker 2: On twenty seven hundred square meters, also got a wine cellar,

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Speaker 2: a screening room, as a gar lounge, a gym and

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Speaker 2: a beauty salon. According to a story in The Australian,

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Speaker 2: it was previously owned by actor Danny de Vito m

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Speaker 2: and his right wife Ria Pullman. James Packer's ranked twenty

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Speaker 2: seven on Australia's Riches two hundred and fifty worth round

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Speaker 2: five point one billion dollars, had a very good twenty

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Speaker 2: twenty four. He last played a prominent role in the

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Speaker 2: Australian business community in late twenty twenty two, when he

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Speaker 2: sold his stake in Crown Resorts to private equity firm

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Speaker 2: Blackstone and got about three point three billion dollars for that.

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Speaker 2: You've almost stopped your laughter about the years of eighteen bathrooms.

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Speaker 2: Let's move on.

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Speaker 1: You've you served a particularly vicious windaloo.

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Speaker 2: For instance, in international news this morning.

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Speaker 1: Prime Minister Mark Carney's Liberal Party one Canada's federal election yesterday,

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Speaker 1: which is quite incredible considering the turnaround from if you

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Speaker 1: think back kind of six weeks two months ago. It

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Speaker 1: caps this about face in fortunes that has been fueled

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Speaker 1: by Donald Trump's annexation threats and trade war. It is just.

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Speaker 1: It is an incredible story.

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Speaker 2: It is and August is actually very well for Anthony

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Speaker 2: Albernezi because incumbents in elections in a Trump era seems

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Speaker 2: to have done very well. After Pol's closed, the Liberals

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Speaker 2: were projected to win more of the The Liberals in

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Speaker 2: Canada are the left leaning party. They'd be confused by that.

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Speaker 2: They are projected to win more of the parliaments three

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Speaker 2: hundred and forty three seats than the Conservative Party, though

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Speaker 2: it wasn't immediately here if clear if they could actually

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Speaker 2: form an outright majority, they may have to rely on

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Speaker 2: one or more smaller parties to form a government and

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Speaker 2: pass legislations. The Liberals definitely looked headed for a crushing

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Speaker 2: defeat until Trump took over. He started attacking Canada's economy.

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Speaker 2: He threatened its sovereignty. He suggested it should become the

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Speaker 2: few first state. According to Reuters, those comments infuriated Canadians,

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Speaker 2: triggering a surge in nationalism that helped the Liberals flip

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Speaker 2: the election narrative and win a fourth straight term in power. Now,

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Speaker 2: even with the Canadians coming to terms with just a

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Speaker 2: horrendous weekend after that attack at the Vancouver Street Festival,

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Speaker 2: where I think was nine was killed. On election Day,

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Speaker 2: Trump was trolling them, suggesting on social media that he

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Speaker 2: was on their ballot and repeating that Canada should become

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Speaker 2: the fifty first state. Come on, beggars belief.

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Speaker 1: Speaking of Donald Trump, the president is celebrating one hundred

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Speaker 1: days in office. And what a one hundred days it has.

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Speaker 1: It's been a Whirlwind's redefined global relations and the international

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Speaker 1: economy broadly. What are the what are the highlights?

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Speaker 2: Sean the menorable moments about that?

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Speaker 1: That's probably a better way to fall.

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Speaker 2: But one of the first existive orders was to release

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Speaker 2: rioters from the January sixth, twenty twenty one attack on

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Speaker 2: Capitol Hill from jail. That might have been the first one.

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Speaker 2: Then he sent day three, I think it was, he

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Speaker 2: sent troops to the Mexican border, saying America's sovereignty was

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Speaker 2: under attack. Day eleven, he blamed diversity Initiatives for a

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Speaker 2: plane crash in Washington, DC, and just after a fortnight

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Speaker 2: in office, foreign Aid staff were told not to come

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Speaker 2: to work. It was one of the first big targets

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Speaker 2: of Elin Musk's DOGE office. Trump went on to suggests

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Speaker 2: that the US should seize control of Gaza. He berated

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Speaker 2: Ukrainian President Vladimir Zelenski and praised Russian President Vladimir Putin,

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Speaker 2: and a journalist was added to a secure line that

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Speaker 2: was discussing an attack on Yemen. Highlights, so to speak.

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Speaker 2: Throughout law officials were rounding up I legal immigrants and

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Speaker 2: deporting them. A lot of the focus on that were

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Speaker 2: Venezuelan immigrants. Day seventy three was probably the big one.

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Speaker 2: Tariffs for one hundred and eighty five countries, including ten

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Speaker 2: per cent for Australia. Financial markets are still trying to recover.

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Speaker 2: You can't say he doesn't have energy. He does bring

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Speaker 2: a certain oomph to the.

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Speaker 1: Job, enthusiasm for the power that is extraordinary. Up next

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Speaker 1: Sean is the Fear and Greed Daily interview with Johannes

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Speaker 1: Fall from Morning Star. Great conversation. Don't miss that when

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Speaker 1: it is coming up in the Fear and Greed playlist

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Speaker 1: on your podcast platform or at Fearangreed dot com dot au,

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Speaker 1: which is also where you sign up for our free

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Speaker 1: daily newsletter. If you haven't done it yet, make today

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Speaker 1: the day you sign up. It is entirely free.

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Speaker 2: Thank you Sean, Thank you Michael.

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Speaker 1: It is Wednesday, the thirtieth of April twenty twenty five.

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Speaker 1: Make sure you're following the podcast and please join us

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Speaker 1: online on LinkedIn, Instagram, x TikTok and Facebook. Oh, Michael Thompson,

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Speaker 1: and that was fear and greed. Have a great day.