1 00:00:06,400 --> 00:00:10,880 Speaker 1: Opposition leader Peter Dutton goes nuclear, naming seven potential sites 2 00:00:10,880 --> 00:00:14,160 Speaker 1: for reactors if the Coalition is elected to government. Home 3 00:00:14,200 --> 00:00:16,840 Speaker 1: price is set to rise in Perth, Sydney, Brisbane and 4 00:00:16,840 --> 00:00:20,360 Speaker 1: Adelaide but not Melbourne, and aircraft are landing at some 5 00:00:20,480 --> 00:00:24,919 Speaker 1: large regional airports even though air traffic control is closed. 6 00:00:25,280 --> 00:00:27,720 Speaker 1: Welcome to Fear and Greed. Daily business news for people 7 00:00:27,760 --> 00:00:30,640 Speaker 1: who make their own decisions. It is Thursday, the twentieth 8 00:00:30,680 --> 00:00:33,960 Speaker 1: of June twenty twenty four. Are Michael Thompson and Good Morning, 9 00:00:34,000 --> 00:00:34,720 Speaker 1: Sean Aylmer. 10 00:00:35,000 --> 00:00:36,800 Speaker 2: Good Morning, Michael Seawan. 11 00:00:36,880 --> 00:00:39,800 Speaker 1: The main story this morning. Opposition leader Peter Dutton has 12 00:00:39,880 --> 00:00:44,519 Speaker 1: pledged to build seven government owned nuclear power stations by 13 00:00:44,560 --> 00:00:48,080 Speaker 1: twenty fifty, with the first being ready to go by 14 00:00:48,120 --> 00:00:50,920 Speaker 1: twenty thirty five if the Coalition wins the next election. 15 00:00:51,479 --> 00:00:54,360 Speaker 2: Mister Dutton said nuclear power is integral to the energy 16 00:00:54,400 --> 00:00:57,680 Speaker 2: mix if Australia is to have cheap, clean and reliable 17 00:00:57,760 --> 00:01:00,880 Speaker 2: power in the long term. The announcement and Shaw's Energy 18 00:01:00,920 --> 00:01:04,280 Speaker 2: and the environment will be key battlegrounds during the next election. 19 00:01:04,880 --> 00:01:07,680 Speaker 2: Under the plan, there will be five large scale power 20 00:01:07,720 --> 00:01:11,120 Speaker 2: plants and two small modular reactors, all in operation by 21 00:01:11,160 --> 00:01:13,679 Speaker 2: twenty fifty. The large scale plants, which would have a 22 00:01:13,720 --> 00:01:16,800 Speaker 2: capacity of between one megawatt and one point four megawatts, 23 00:01:17,040 --> 00:01:20,080 Speaker 2: would be built on the site of old coal fired 24 00:01:20,200 --> 00:01:23,199 Speaker 2: power stations so One in Lithgow and in Hunter Valley 25 00:01:23,200 --> 00:01:27,520 Speaker 2: in the New South Wales, Traalgon in Victoria, Mount Murchison 26 00:01:27,600 --> 00:01:31,280 Speaker 2: and Tehrong in Queensland. All sites are currently in coalition. 27 00:01:31,360 --> 00:01:36,280 Speaker 2: Hurled electorates small modular reactors are still actually a concept technology, 28 00:01:36,280 --> 00:01:38,440 Speaker 2: but the plan is to build them a Portagustri in 29 00:01:38,480 --> 00:01:42,160 Speaker 2: South Australia and Collie in Western Australia. Mister Dutton said 30 00:01:42,319 --> 00:01:44,560 Speaker 2: they will be part of an energy mix with renewables 31 00:01:44,560 --> 00:01:48,520 Speaker 2: and significant amounts of gas, particularly in the interim period now. 32 00:01:48,520 --> 00:01:52,200 Speaker 2: Mister Dutton said nuclear power was more realistic than green hydrogen, 33 00:01:52,560 --> 00:01:55,960 Speaker 2: which is still not commercially viable. There's no detail on cost, 34 00:01:56,080 --> 00:01:58,240 Speaker 2: Mister Dutton said that would come in coming weeks. But 35 00:01:58,360 --> 00:02:02,360 Speaker 2: remember last month the cus IRO estimated the nation's first 36 00:02:02,760 --> 00:02:06,560 Speaker 2: large scale nuclear power plant could cost as much as 37 00:02:06,640 --> 00:02:10,640 Speaker 2: seventeen billion dollars and it wouldn't be operational until twenty forty. 38 00:02:11,560 --> 00:02:13,680 Speaker 1: Sure, and there's plenty in all of that. And I 39 00:02:13,720 --> 00:02:16,720 Speaker 1: did note yesterday that after this announcement was made, that 40 00:02:16,960 --> 00:02:19,560 Speaker 1: a lot of news websites ran stories on kind of 41 00:02:19,600 --> 00:02:22,200 Speaker 1: where the seven locations are going to be around the country, 42 00:02:22,240 --> 00:02:24,920 Speaker 1: and almost without fail, they were the most clicked on 43 00:02:25,320 --> 00:02:28,480 Speaker 1: stories that I could see yesterday, because it's just everyone 44 00:02:28,560 --> 00:02:30,519 Speaker 1: was interested in where this is going to be. What 45 00:02:30,680 --> 00:02:34,280 Speaker 1: was the immediate response. I suppose in a political sense, it's. 46 00:02:34,160 --> 00:02:37,040 Speaker 2: Fair to say it's a courageous announcement, though apparently there 47 00:02:37,120 --> 00:02:40,480 Speaker 2: wasn't any dissent within the party room. Prime Minister Anthony 48 00:02:40,520 --> 00:02:44,000 Speaker 2: Alberanzi called it economic madness treasure. Jim Chalmers said that 49 00:02:44,160 --> 00:02:46,959 Speaker 2: nuclear takes longer, costs more and would waste a strategy 50 00:02:47,040 --> 00:02:53,200 Speaker 2: unique combination of geological, geographical, geopolitical and meteorological advantages. None 51 00:02:53,240 --> 00:02:56,520 Speaker 2: of the state governments directly affected came out in support. 52 00:02:56,680 --> 00:03:00,239 Speaker 2: They're all labor governments, mine you, business community was me to. 53 00:03:00,280 --> 00:03:02,160 Speaker 2: The Boss of Origin said it's good to have nuclear 54 00:03:02,240 --> 00:03:05,880 Speaker 2: energy as part of the discussion, while the Minerals Council 55 00:03:05,919 --> 00:03:08,720 Speaker 2: of Australia came out and supported the proposal. What it 56 00:03:08,800 --> 00:03:12,399 Speaker 2: does do is demonstrate very different strategies for the two 57 00:03:12,400 --> 00:03:15,880 Speaker 2: major parties. Both agree coal fired power stations need to close, 58 00:03:16,080 --> 00:03:18,680 Speaker 2: and actually both agree that gas is necessary for the 59 00:03:18,720 --> 00:03:21,840 Speaker 2: transition to renewables. But one side is backing winds, sola, 60 00:03:21,960 --> 00:03:25,280 Speaker 2: hydro and hydrogen. The other is backing nuclear along with 61 00:03:25,320 --> 00:03:28,320 Speaker 2: some of those other renewable energy types. So when you 62 00:03:28,320 --> 00:03:30,880 Speaker 2: go to the pole, at least you know what you're 63 00:03:30,960 --> 00:03:34,359 Speaker 2: voting for. I do think it is a very courageous 64 00:03:34,360 --> 00:03:36,760 Speaker 2: thing too. I mean it's great that is part of 65 00:03:36,800 --> 00:03:39,680 Speaker 2: the debate. I think it's very courageous for Peter Dutton 66 00:03:39,680 --> 00:03:42,880 Speaker 2: to come out and actually name sites because when I 67 00:03:42,920 --> 00:03:45,400 Speaker 2: saw those sites yesterday, I mean one's Liftgo Now. I 68 00:03:45,480 --> 00:03:49,240 Speaker 2: drive through Liftgo regularly because my mum still lives in 69 00:03:49,280 --> 00:03:51,880 Speaker 2: the central western New South Wales out in Orange. I've 70 00:03:51,920 --> 00:03:54,240 Speaker 2: been there twice in the last two weeks and I thought, 71 00:03:54,240 --> 00:03:56,240 Speaker 2: would I like to live in a town like Lythgate 72 00:03:56,320 --> 00:03:57,680 Speaker 2: if there's a nuclear site there? 73 00:03:59,200 --> 00:03:59,280 Speaker 1: Not? 74 00:03:59,400 --> 00:03:59,840 Speaker 2: So sure. 75 00:04:00,640 --> 00:04:03,080 Speaker 1: It certainly was a very very big day in terms 76 00:04:03,080 --> 00:04:06,200 Speaker 1: of politics. Sean. Let's have a look now at local markets. 77 00:04:06,200 --> 00:04:07,720 Speaker 1: How do they perform this today? 78 00:04:07,760 --> 00:04:10,880 Speaker 2: SMPA six two hundred closed down slightly zero point one 79 00:04:10,880 --> 00:04:13,640 Speaker 2: percent to seven seven hundred and seventy points. It wasn't 80 00:04:13,640 --> 00:04:15,920 Speaker 2: a huge amount of movement, though energy stocks did best, 81 00:04:15,960 --> 00:04:19,279 Speaker 2: while industrials were the laggards. Among the large caps, mcquarie 82 00:04:19,400 --> 00:04:21,920 Speaker 2: and the energy giants Woodside and Santos all rowse more 83 00:04:21,920 --> 00:04:24,400 Speaker 2: than one percent. The banks were mixed, while Goodwin Group, 84 00:04:24,480 --> 00:04:29,960 Speaker 2: Aria and Aristocrat Leisure all underperformed. Uranium stocks including Paladin Energy, 85 00:04:30,000 --> 00:04:33,640 Speaker 2: Deep Yellow, Benemon and Bus Energy all rows. Following Peter 86 00:04:33,720 --> 00:04:37,000 Speaker 2: Dutton's announcement in Corporate News down at Eedi has been 87 00:04:37,040 --> 00:04:39,480 Speaker 2: awarded a new contract by the NBN valued at one 88 00:04:39,520 --> 00:04:42,840 Speaker 2: hundred million dollars that helped it fetch a building. Will 89 00:04:42,880 --> 00:04:46,279 Speaker 2: divest fifty percent of its Fiji business to two local partners. 90 00:04:46,760 --> 00:04:51,719 Speaker 2: Pharmaceutical developer Botanix has paused trading of its shares pending 91 00:04:51,760 --> 00:04:55,039 Speaker 2: the outcome of the US Food and Drug Administration's review 92 00:04:55,080 --> 00:05:00,200 Speaker 2: of the company's software product That's sofdra, basically software is 93 00:05:00,240 --> 00:05:04,520 Speaker 2: designed to treat excessive sweating. Shares in Heallyer Group tumble 94 00:05:04,560 --> 00:05:07,920 Speaker 2: twenty one percent after its bank, the Commonwealth Bank, flagged 95 00:05:07,960 --> 00:05:11,760 Speaker 2: potential changes in the company's existing lender's mortgage insurance contract. 96 00:05:12,000 --> 00:05:14,080 Speaker 2: It was the worst of the top two hundred. Bit 97 00:05:14,120 --> 00:05:17,440 Speaker 2: of a sentimental moment yesterday, Michael CSR, after sixty two 98 00:05:17,520 --> 00:05:20,880 Speaker 2: years on the AX and more than one hundred and 99 00:05:20,920 --> 00:05:26,359 Speaker 2: sixty years as an Australian company, delisted from the BOSS, 100 00:05:26,640 --> 00:05:30,120 Speaker 2: having being bought by French group Saint Germain because when 101 00:05:30,160 --> 00:05:32,440 Speaker 2: he Gomes is set to launch on the AX today, 102 00:05:32,520 --> 00:05:35,320 Speaker 2: as is van Nex Bitcoin exchange traded fund. 103 00:05:36,200 --> 00:05:38,560 Speaker 1: What happens when a company d lists? I'm sure I've 104 00:05:38,600 --> 00:05:40,479 Speaker 1: asked you this before, but I know that when a 105 00:05:40,560 --> 00:05:45,200 Speaker 1: company floats, when a company lists for the first time, 106 00:05:45,240 --> 00:05:47,880 Speaker 1: there's kind of a great celebration and kind of ringing 107 00:05:47,960 --> 00:05:50,920 Speaker 1: bells and all that kind of thing. Is there any 108 00:05:51,000 --> 00:05:54,360 Speaker 1: kind of celebration wondering of a gold watch or anyhow? 109 00:05:54,400 --> 00:05:56,599 Speaker 2: I wonder you mean you just have to just turn 110 00:05:56,600 --> 00:05:59,000 Speaker 2: the lights off on the way out, wudn't you theair office? 111 00:05:59,600 --> 00:06:00,080 Speaker 2: That's it. 112 00:06:00,080 --> 00:06:01,760 Speaker 1: It feels a little bit sad, doesn't it. 113 00:06:01,760 --> 00:06:04,039 Speaker 2: It does feel a bit sad. It's like the last 114 00:06:04,040 --> 00:06:06,200 Speaker 2: episode of a country practice for me. 115 00:06:06,800 --> 00:06:08,880 Speaker 1: Just why did I say that? 116 00:06:08,960 --> 00:06:10,120 Speaker 2: Michael? I don't know. 117 00:06:11,120 --> 00:06:14,160 Speaker 1: I have no idea. You have been hanging around with 118 00:06:14,240 --> 00:06:16,440 Speaker 1: me for too long that you have now just started 119 00:06:16,440 --> 00:06:18,280 Speaker 1: to say the first thing that comes into your head. 120 00:06:18,360 --> 00:06:22,359 Speaker 2: Think about that. In my youth, the last episode of 121 00:06:22,360 --> 00:06:24,520 Speaker 2: a Country Practice, which was a sort of a TV 122 00:06:24,640 --> 00:06:27,240 Speaker 2: show that a drama that ran for years and years. 123 00:06:27,360 --> 00:06:29,320 Speaker 2: I always just think it's just a really sad moment 124 00:06:29,360 --> 00:06:32,080 Speaker 2: of my youth. I wouldn't be able to watch it anymore. 125 00:06:32,200 --> 00:06:34,240 Speaker 1: End of an era. Sean end of an era. 126 00:06:34,400 --> 00:06:37,159 Speaker 2: That's it, all right, Well. 127 00:06:37,480 --> 00:06:40,279 Speaker 1: We didn't really answer the question. I mean, surely there's something, 128 00:06:40,360 --> 00:06:40,880 Speaker 1: but you know. 129 00:06:40,880 --> 00:06:42,359 Speaker 2: What, I'd have to have a party, wouldn't they. 130 00:06:42,560 --> 00:06:44,839 Speaker 1: That's going to be my job today. I'm going to 131 00:06:44,880 --> 00:06:47,680 Speaker 1: go and figure out what happens when a company do 132 00:06:47,839 --> 00:06:50,960 Speaker 1: this anyway, international markets, what's happening? 133 00:06:51,320 --> 00:06:56,800 Speaker 2: Well, Wall Street has a new king, officially the value 134 00:06:56,839 --> 00:07:00,159 Speaker 2: of Nvidio, the US based chip maker that manufacturers the 135 00:07:00,200 --> 00:07:05,880 Speaker 2: brains for artificial intelligence. Its value hit three point four 136 00:07:06,040 --> 00:07:10,240 Speaker 2: trillion US dollars yesterday, more than Microsoft, more than Apple, 137 00:07:10,760 --> 00:07:13,400 Speaker 2: and more than the combined value of the Stone Superannuation 138 00:07:13,480 --> 00:07:18,040 Speaker 2: SECTEP now quite a phenomenal story and video. Debuted on 139 00:07:18,120 --> 00:07:22,000 Speaker 2: the Nasdaq Stock Exchange in nineteen ninety nine, it made 140 00:07:22,080 --> 00:07:24,800 Speaker 2: the SMP five hundred. Three years later, it actually took 141 00:07:24,800 --> 00:07:29,960 Speaker 2: the place of disgraced oil trading company Enron. Since then, 142 00:07:30,480 --> 00:07:33,760 Speaker 2: it has been the best performing stock of the SMP 143 00:07:34,080 --> 00:07:37,560 Speaker 2: five hundred bar none. It's up more than ten percent 144 00:07:37,720 --> 00:07:41,600 Speaker 2: in the past five days, forty percent in the last month, 145 00:07:42,080 --> 00:07:46,000 Speaker 2: one hundred and seventy percent in the past year, and 146 00:07:46,360 --> 00:07:49,480 Speaker 2: five hundred and ninety one thousand and seventy eight percent 147 00:07:50,440 --> 00:07:54,680 Speaker 2: since it's IPO twenty five years ago. Its place in 148 00:07:54,840 --> 00:07:57,760 Speaker 2: history is now assured, although its place atop Wall Street 149 00:07:57,800 --> 00:08:00,720 Speaker 2: certainly isn't. Three times in its life, the share price 150 00:08:00,800 --> 00:08:04,160 Speaker 2: has on an annual basis halved, but for the time 151 00:08:04,200 --> 00:08:08,360 Speaker 2: being well customers keep spending billions on AI in video 152 00:08:09,040 --> 00:08:12,120 Speaker 2: will rain. There you go. The surgeon in Vidia has 153 00:08:12,120 --> 00:08:13,880 Speaker 2: been the main reason the s and P five hundred 154 00:08:13,960 --> 00:08:16,920 Speaker 2: has performed so well this year. Yesterday it reached its 155 00:08:17,080 --> 00:08:21,280 Speaker 2: thirty first record in twenty twenty four, moving away from 156 00:08:21,280 --> 00:08:25,080 Speaker 2: equities in commodity markets, oil jumped nearly two percent yesterday 157 00:08:25,080 --> 00:08:27,680 Speaker 2: to its highest closing price in seven weeks. That's why 158 00:08:27,720 --> 00:08:30,400 Speaker 2: Woodside and Santos did well on the local market. Yesterday, 159 00:08:30,520 --> 00:08:33,959 Speaker 2: girls flat and the Aussie dollar is up, creeping ever 160 00:08:34,080 --> 00:08:36,120 Speaker 2: so slowly towards sixty seven US. 161 00:08:35,880 --> 00:08:40,440 Speaker 1: Since Sean, I think that Invidia story is remarkable. I 162 00:08:40,480 --> 00:08:44,720 Speaker 1: know that you probably think that story is remarkable. You 163 00:08:44,800 --> 00:08:46,600 Speaker 1: know who I suspect will not think it's. 164 00:08:46,480 --> 00:08:51,760 Speaker 2: Remarkable, our man, Adam Lange, that's right, our judge in 165 00:08:51,800 --> 00:08:52,760 Speaker 2: our weekend edition. 166 00:08:52,960 --> 00:08:56,000 Speaker 1: Well, I mean you and I, over various weeks have 167 00:08:56,240 --> 00:08:59,640 Speaker 1: used various kind of iterations of the Nvidia story as 168 00:08:59,679 --> 00:09:01,920 Speaker 1: the remarkable story of the week, and the weekend edition 169 00:09:02,040 --> 00:09:03,960 Speaker 1: is a very competitive thing where we are competing to 170 00:09:03,960 --> 00:09:06,000 Speaker 1: see who has the most remarkable stories, all that kind 171 00:09:06,040 --> 00:09:09,720 Speaker 1: of thing, and Adam just keeps on saying, no, it's 172 00:09:09,720 --> 00:09:15,080 Speaker 1: not remarkable, it's not remarkable. But this is objectively remarkable. 173 00:09:15,080 --> 00:09:16,720 Speaker 2: Do you know what we could do? We could just 174 00:09:16,800 --> 00:09:19,160 Speaker 2: both say yeah, we agree, that's the most remarkable story, 175 00:09:19,200 --> 00:09:21,240 Speaker 2: and he gets absolutely no choice. 176 00:09:21,400 --> 00:09:24,320 Speaker 1: Oh I love this idea. We could have some fun 177 00:09:24,360 --> 00:09:26,959 Speaker 1: with this, okay, all right, look tune in this weekend 178 00:09:26,960 --> 00:09:29,120 Speaker 1: to the weekend edition and see what happens. It is 179 00:09:29,160 --> 00:09:30,840 Speaker 1: always a bit of fun. There's a lot of theater, 180 00:09:30,960 --> 00:09:35,600 Speaker 1: a lot of melodrama, and really anything can happen, which 181 00:09:35,640 --> 00:09:38,040 Speaker 1: is an enticing prospect for a business podcast. All right, 182 00:09:38,080 --> 00:09:39,400 Speaker 1: we'll be back in a moment with the rest of 183 00:09:39,440 --> 00:09:49,520 Speaker 1: the day's business news. Sewan home prices are forecast to 184 00:09:49,640 --> 00:09:52,800 Speaker 1: keep rising over the next year, with most capital cities 185 00:09:52,800 --> 00:09:56,319 Speaker 1: reaching new highs. According to leading online property group Domain. 186 00:09:56,520 --> 00:10:00,000 Speaker 2: Strong population growth struggles getting new homes built an increased 187 00:10:00,080 --> 00:10:03,920 Speaker 2: borrowing power will drive the growth for both houses and units. 188 00:10:04,120 --> 00:10:07,000 Speaker 2: Domain predicts house prices in Perth are tipped gray by 189 00:10:07,040 --> 00:10:10,680 Speaker 2: around nine percent, Adelaide's tip to experience eight percent growth 190 00:10:10,920 --> 00:10:14,640 Speaker 2: seven percent in Sydney and Brisbane. Prices in many regional centers, 191 00:10:14,679 --> 00:10:17,680 Speaker 2: including the Sunshine Coast in Queensland, are tipped to reach 192 00:10:17,840 --> 00:10:22,040 Speaker 2: new records. The news isn't so good for homeowners in 193 00:10:22,080 --> 00:10:24,719 Speaker 2: some other capitals, with growth and Canbra forecast to come 194 00:10:24,720 --> 00:10:28,880 Speaker 2: in around two percent and just one percent in Melbourne, Sydney, Brisbane. 195 00:10:28,920 --> 00:10:32,480 Speaker 2: Adelaide Perth also lead the units market. Domain's chief of 196 00:10:32,520 --> 00:10:35,640 Speaker 2: Research and Economics, Nicolo Powell, says demand is rising thanks 197 00:10:35,640 --> 00:10:39,400 Speaker 2: to population growth as well as more single person households, 198 00:10:39,679 --> 00:10:42,280 Speaker 2: but supply just isn't keeping up. The July one tax 199 00:10:42,360 --> 00:10:45,000 Speaker 2: cuts means more money hitting Australian households, and doctor Powell 200 00:10:45,080 --> 00:10:48,560 Speaker 2: forecasts that that could also help push prices higher. 201 00:10:49,120 --> 00:10:50,959 Speaker 1: Yeah, it is one thing. Isn't it suan to kind 202 00:10:50,960 --> 00:10:52,959 Speaker 1: of talk about where house prices have been? It's another 203 00:10:53,000 --> 00:10:55,280 Speaker 1: thing altogether to try and predict where they're going to 204 00:10:55,280 --> 00:10:58,760 Speaker 1: be going over the next twelve months. And so there's 205 00:10:58,800 --> 00:11:01,200 Speaker 1: something a little bit kind of solidacious in there. And 206 00:11:01,240 --> 00:11:03,720 Speaker 1: so you have an interview coming up after the show 207 00:11:03,840 --> 00:11:06,679 Speaker 1: today with doctor Nicola Powell where you go into these 208 00:11:06,760 --> 00:11:08,360 Speaker 1: stats and really kind of look at some of these 209 00:11:08,440 --> 00:11:10,400 Speaker 1: highlights in terms of the cities that are going to 210 00:11:10,440 --> 00:11:13,000 Speaker 1: outperform and the ones that are going to underperform. 211 00:11:13,400 --> 00:11:16,040 Speaker 2: Nikola knows the Australian property market. I think we can 212 00:11:16,080 --> 00:11:18,560 Speaker 2: confidently say that. So it is a great chat about 213 00:11:18,559 --> 00:11:20,640 Speaker 2: why some of these companies are doing so well, but 214 00:11:20,800 --> 00:11:23,120 Speaker 2: now particularly we talk a bit about Melbourne and why 215 00:11:23,200 --> 00:11:26,000 Speaker 2: that's not doing so well. We talk about the regions 216 00:11:26,040 --> 00:11:28,600 Speaker 2: as well and unit prices and stuff like that. It's 217 00:11:28,600 --> 00:11:29,480 Speaker 2: a fantastic chat. 218 00:11:29,640 --> 00:11:31,480 Speaker 1: Yeah, it is coming up after the show, so stick 219 00:11:31,520 --> 00:11:34,040 Speaker 1: around for that one show. And there are growing concerns. 220 00:11:34,040 --> 00:11:37,360 Speaker 1: This is a bit of arming around the shortage of 221 00:11:37,520 --> 00:11:41,920 Speaker 1: air traffic controllers at secondary airports around the country, with 222 00:11:42,080 --> 00:11:45,240 Speaker 1: some towers being unmanned at certain times of the week. 223 00:11:45,480 --> 00:11:49,360 Speaker 2: There are currently no overnight air traffic control services at 224 00:11:49,440 --> 00:11:52,640 Speaker 2: Darwin yet around midnight on most days more than a 225 00:11:52,679 --> 00:11:57,040 Speaker 2: dozen flights arrive or depart with pretty much no guidance 226 00:11:57,080 --> 00:12:01,080 Speaker 2: from the ground townsvill doesn't staff, it's controlled over weekends, 227 00:12:01,120 --> 00:12:04,000 Speaker 2: and almost fifty commercial services have to coordinate their own 228 00:12:04,080 --> 00:12:08,040 Speaker 2: landings or takeoffs. That's on a Sunday alone. According to 229 00:12:08,040 --> 00:12:11,240 Speaker 2: a report on Bloomberg, it means flight crews are taking 230 00:12:11,240 --> 00:12:14,880 Speaker 2: on the task of distancing their planes from other air traffic, 231 00:12:15,320 --> 00:12:18,600 Speaker 2: and pilots say landing without direction from a tower removes 232 00:12:18,640 --> 00:12:22,200 Speaker 2: a very important layer of security at a critical period 233 00:12:22,360 --> 00:12:25,120 Speaker 2: of the flight. A little concerning this one, Michael. 234 00:12:25,000 --> 00:12:28,840 Speaker 1: Yeah, Indeed, this one's also concerning Sean. Australia's bird flew 235 00:12:29,000 --> 00:12:32,600 Speaker 1: outbreak has worsened, with a strain of the disease detected 236 00:12:32,679 --> 00:12:35,200 Speaker 1: now on a New South Wales egg farm. After being 237 00:12:35,200 --> 00:12:37,000 Speaker 1: found on seven properties in Victoria. 238 00:12:37,400 --> 00:12:40,319 Speaker 2: The avian influenza has been picked up in the Hawksby 239 00:12:40,440 --> 00:12:43,280 Speaker 2: district north of Sydney, although the strain is different to 240 00:12:43,320 --> 00:12:46,640 Speaker 2: that detected in Victoria. The height seven N eight strain 241 00:12:46,920 --> 00:12:49,320 Speaker 2: found in New South Wales is believed to be a 242 00:12:49,360 --> 00:12:53,560 Speaker 2: spillover event, possibly from wild birds. New South Wales officials 243 00:12:53,640 --> 00:12:56,880 Speaker 2: engaged the state's Emergency Biosecurity Incident plan, sending the farm 244 00:12:56,920 --> 00:13:00,440 Speaker 2: into quarantine and triggering movement controls in the area. It 245 00:13:00,520 --> 00:13:05,199 Speaker 2: adds that the highly pathogenic disease spreads quickly and has 246 00:13:05,240 --> 00:13:09,960 Speaker 2: a high mortality rate among poultry birds, requiring the farm lockdown. 247 00:13:10,040 --> 00:13:13,079 Speaker 2: According to AAP, that's the HATE seven N eight strain. 248 00:13:13,240 --> 00:13:15,960 Speaker 2: The HATE seven N three strain was found at a 249 00:13:16,040 --> 00:13:19,840 Speaker 2: seventh Victorian farm or in quarantine earlier in the week. 250 00:13:20,280 --> 00:13:23,320 Speaker 2: It's in the Golden Plains Shire and the state's central West. 251 00:13:23,520 --> 00:13:28,679 Speaker 2: It's expected that with eight properties now affected, more than 252 00:13:28,720 --> 00:13:31,880 Speaker 2: a million chickens and ducks will be killed. To send 253 00:13:31,960 --> 00:13:33,679 Speaker 2: the outbreak ensure a. 254 00:13:33,800 --> 00:13:37,520 Speaker 1: QBE will close its North American middle market business, saying 255 00:13:37,559 --> 00:13:42,840 Speaker 1: this segment has quote experienced performance challenges over several years. 256 00:13:43,520 --> 00:13:45,800 Speaker 2: Yes, nicely put, the region has been a problem to 257 00:13:45,880 --> 00:13:47,880 Speaker 2: off QBE for some time, and the group will no 258 00:13:47,960 --> 00:13:51,080 Speaker 2: longer be renewing mid market policies in the region. Instead, 259 00:13:51,120 --> 00:13:53,760 Speaker 2: it will refocus on geographies where it has more meaningful 260 00:13:54,000 --> 00:13:57,000 Speaker 2: market position, relevance and scale. QB will book a one 261 00:13:57,080 --> 00:14:00,079 Speaker 2: hundred million US dollar restructuring charge. Share price Yes that 262 00:14:00,160 --> 00:14:02,800 Speaker 2: I fell four percent on the back of it. QBE 263 00:14:02,880 --> 00:14:06,280 Speaker 2: operates in Australia, Europe, North America and Asia. It did 264 00:14:06,280 --> 00:14:10,320 Speaker 2: say premiums are still growing and catastrophe payouts for the 265 00:14:10,320 --> 00:14:12,760 Speaker 2: full year to the end of August are likely to 266 00:14:12,760 --> 00:14:16,360 Speaker 2: come in below expectations. Also, its investment returns had improved. 267 00:14:16,400 --> 00:14:18,079 Speaker 2: Still there was a sell off from the stock. 268 00:14:18,400 --> 00:14:21,960 Speaker 1: And John, a French backed renewables developer, will proceed with 269 00:14:22,040 --> 00:14:25,360 Speaker 1: the second stage of Omega four billion dollar wind farm 270 00:14:25,440 --> 00:14:28,640 Speaker 1: in Victoria, the biggest in the country, even though there's 271 00:14:28,640 --> 00:14:30,359 Speaker 1: an absence of signed up customers. 272 00:14:31,080 --> 00:14:33,760 Speaker 2: Tag Energy has signed a financing deal with the government's 273 00:14:33,760 --> 00:14:36,440 Speaker 2: Green Bank and a range of domestic and overseas commercial 274 00:14:36,560 --> 00:14:38,760 Speaker 2: lenders for the more than one point eight billion dollar 275 00:14:38,840 --> 00:14:41,440 Speaker 2: second stage of the one point three to three gigawat 276 00:14:41,440 --> 00:14:43,160 Speaker 2: Golden Planes project near Geelong. 277 00:14:43,640 --> 00:14:43,720 Speaker 1: Now. 278 00:14:43,760 --> 00:14:46,000 Speaker 2: According to the finn review of the commitment to build, 279 00:14:46,160 --> 00:14:49,160 Speaker 2: the five hundred and seventy seven megawatt expansion comes after 280 00:14:49,240 --> 00:14:52,160 Speaker 2: origin last week, so it will keep ownership of wind 281 00:14:52,160 --> 00:14:55,440 Speaker 2: and solar farms to a minimum. AGL Energy also came 282 00:14:55,480 --> 00:14:58,280 Speaker 2: out and described the investment case for new wind generation 283 00:14:58,440 --> 00:15:03,680 Speaker 2: as tricky. Energy is confident that energy prices and particularly 284 00:15:03,720 --> 00:15:07,920 Speaker 2: those going to wind farms, will rise to underpin new projects. 285 00:15:08,080 --> 00:15:11,480 Speaker 1: All right. Turning to international news now, and Russian President 286 00:15:11,560 --> 00:15:15,040 Speaker 1: Vladimir Putin arrived for his first visit to North Korea 287 00:15:15,160 --> 00:15:18,480 Speaker 1: in twenty four years. As the US warned the meeting 288 00:15:18,880 --> 00:15:22,200 Speaker 1: could further a transfer of munitions to Russia for its 289 00:15:22,200 --> 00:15:23,840 Speaker 1: assault on Ukraine. 290 00:15:23,880 --> 00:15:27,200 Speaker 2: Mister Kim personally greeted and hugged mister Putin after he 291 00:15:27,360 --> 00:15:30,120 Speaker 2: touched down early yesterday morning. They then drove away in 292 00:15:30,120 --> 00:15:33,880 Speaker 2: mister Putin's limousine, and the Russians portrait was seen on 293 00:15:33,920 --> 00:15:38,400 Speaker 2: almost every second lamppost along the street that they drove along. 294 00:15:38,640 --> 00:15:41,480 Speaker 2: Mister Purtin's trip comes after mister Kim traveled to Russia 295 00:15:41,520 --> 00:15:44,640 Speaker 2: in September. The two were scheduled to hold bilateral talks, 296 00:15:44,640 --> 00:15:47,160 Speaker 2: including one on one, and the two sides will sign 297 00:15:47,200 --> 00:15:50,720 Speaker 2: agreements including on security and economic cooperation. 298 00:15:51,680 --> 00:15:54,440 Speaker 1: Finally, Sean, I'd love to hear what you think of 299 00:15:54,480 --> 00:15:59,600 Speaker 1: this one. McDonald's will no longer use artificial intelligence services 300 00:15:59,640 --> 00:16:05,360 Speaker 1: at its drive throughs after customers orders were wildly misinterpreted. 301 00:16:06,120 --> 00:16:08,840 Speaker 2: So the fast food Jane has been trialing the voice 302 00:16:08,960 --> 00:16:12,760 Speaker 2: recognition software since twenty nineteen, but there's just been some 303 00:16:12,840 --> 00:16:18,960 Speaker 2: pretty bad errors of the technology, failing to record orders correctly. Now, 304 00:16:18,960 --> 00:16:21,320 Speaker 2: this comes from a report in the Telegraph of London. 305 00:16:21,600 --> 00:16:26,200 Speaker 2: One person was given a bacon topped ice cream while 306 00:16:26,240 --> 00:16:29,840 Speaker 2: system malfunctions caused hundreds of dollard's worth of nuggets to 307 00:16:29,880 --> 00:16:33,120 Speaker 2: be automatically added to an order. Now, there's been a 308 00:16:33,160 --> 00:16:38,280 Speaker 2: bunch of videos on Instagram TikTok showing that, I mean, 309 00:16:38,320 --> 00:16:42,320 Speaker 2: they're basically mocking McDonald's. In one of them, a woman 310 00:16:42,760 --> 00:16:46,040 Speaker 2: attempts to order caramel ice cream but instead gets multiple 311 00:16:46,080 --> 00:16:51,840 Speaker 2: portions of butter on her. Bill McDonald's whole franchise is 312 00:16:51,840 --> 00:16:54,960 Speaker 2: that the technology will be removed from the more than 313 00:16:55,000 --> 00:16:56,720 Speaker 2: one hundred restaurants by the end of July. 314 00:16:57,280 --> 00:16:59,560 Speaker 1: What have you ordered that would end up in you 315 00:16:59,600 --> 00:17:02,720 Speaker 1: getting a bacon topped ice cream? I just can't even 316 00:17:02,760 --> 00:17:06,120 Speaker 1: figure out how the AI system would have misinterpreted. 317 00:17:05,440 --> 00:17:07,760 Speaker 2: It and how I mean, surely a person is putting 318 00:17:07,760 --> 00:17:08,920 Speaker 2: the bacon on the ice cream. 319 00:17:09,280 --> 00:17:11,720 Speaker 1: Yeah, but to be fair, people do order some weird 320 00:17:11,720 --> 00:17:13,199 Speaker 1: stud that's true. 321 00:17:13,640 --> 00:17:17,880 Speaker 2: I do remember once driving through Germany and thinking we're 322 00:17:17,880 --> 00:17:19,639 Speaker 2: in a bit of a rush, and thinking, look, we 323 00:17:19,760 --> 00:17:24,920 Speaker 2: might order from McDonald's from the drive through, and very 324 00:17:24,960 --> 00:17:30,240 Speaker 2: confident with my German and ordering I mean, I don't 325 00:17:30,240 --> 00:17:31,760 Speaker 2: know what it was. Was like a big mac and 326 00:17:31,800 --> 00:17:34,959 Speaker 2: fries and a drink I suppose, or something like that, 327 00:17:35,840 --> 00:17:38,879 Speaker 2: and getting to the hand at the place where they 328 00:17:38,920 --> 00:17:41,360 Speaker 2: give you the You know, we paid the money, they 329 00:17:41,359 --> 00:17:43,280 Speaker 2: get the food. What did you think was a bit 330 00:17:43,359 --> 00:17:45,440 Speaker 2: cheap water and an ice cream? 331 00:17:45,880 --> 00:17:48,240 Speaker 1: That's all you got? Oh? 332 00:17:48,840 --> 00:17:50,120 Speaker 2: My German wasn't so good? 333 00:17:50,359 --> 00:17:52,800 Speaker 1: That is glorious. I didn't know that you could speak German. 334 00:17:52,920 --> 00:17:54,080 Speaker 2: Well, obviously I can't. 335 00:17:54,359 --> 00:17:56,720 Speaker 1: Yeah, indeed, all right. Up next is the Fear and 336 00:17:56,760 --> 00:17:59,280 Speaker 1: Green Daily Interview. It demands Nicola Powell as your. 337 00:17:59,240 --> 00:18:01,600 Speaker 2: Guests, all about what's going to happen to house endy 338 00:18:01,680 --> 00:18:03,359 Speaker 2: unit prices over the next twelve months. 339 00:18:03,440 --> 00:18:05,119 Speaker 1: Yeah, it's a good one. It is up next in 340 00:18:05,160 --> 00:18:07,879 Speaker 1: the Fear and Greed playlist on your podcast platform or 341 00:18:07,880 --> 00:18:10,000 Speaker 1: at fearanngreed dot com. TODAYU and Sean, do you know 342 00:18:10,040 --> 00:18:13,399 Speaker 1: what I forgot to mention yesterday? What I forgot to 343 00:18:13,400 --> 00:18:16,760 Speaker 1: mention how do they afford that? Yesterday was Wednesday? Which 344 00:18:16,800 --> 00:18:20,000 Speaker 1: is how do they afford that day? So a belated 345 00:18:20,240 --> 00:18:23,480 Speaker 1: mention of the new episode, which is available now wherever 346 00:18:23,520 --> 00:18:27,560 Speaker 1: you listen to podcasts. It is all about different ways 347 00:18:27,560 --> 00:18:29,480 Speaker 1: to budget because you know, there's a whole lot of 348 00:18:29,520 --> 00:18:33,359 Speaker 1: different kind of budget methods out there, like ones like 349 00:18:33,359 --> 00:18:35,960 Speaker 1: the the fifty to thirty twenty rule and the envelope 350 00:18:36,000 --> 00:18:38,480 Speaker 1: system and zero based budgeting and things like this, and 351 00:18:39,359 --> 00:18:42,520 Speaker 1: all of which you can apply to your household. Canna Campbell, 352 00:18:42,560 --> 00:18:46,639 Speaker 1: who co hosts the podcast, does not consider them to 353 00:18:46,880 --> 00:18:50,760 Speaker 1: all be equal and is very very very angry about 354 00:18:50,800 --> 00:18:52,800 Speaker 1: a couple of them. So it's worth listening just for that. 355 00:18:54,320 --> 00:18:58,280 Speaker 2: She's straightforward and Kenna, oh yeah, she actually says what 356 00:18:58,320 --> 00:18:59,520 Speaker 2: she thinks. Oh it's good. 357 00:18:59,680 --> 00:19:01,879 Speaker 1: Yeah, yeah, you want a financial planner who does that, 358 00:19:02,040 --> 00:19:04,040 Speaker 1: And so that's why I think it's just very interesting 359 00:19:04,080 --> 00:19:06,040 Speaker 1: to hear this, and she's very very critical of some 360 00:19:06,080 --> 00:19:08,080 Speaker 1: of these methods, So tune in just for that. I'll 361 00:19:08,080 --> 00:19:10,280 Speaker 1: put a link in today's show notes. Thank you, Sean, 362 00:19:10,720 --> 00:19:13,320 Speaker 1: Thank you Michael. It is Thursday, the twentieth of June 363 00:19:13,320 --> 00:19:15,480 Speaker 1: twenty twenty four. Make sure you're following the podcast and 364 00:19:15,560 --> 00:19:19,359 Speaker 1: join us online on LinkedIn, Instagram, x TikTok and Facebook. 365 00:19:19,520 --> 00:19:21,840 Speaker 1: I'm Michael Thompson. And that was Fear and Greed. Have 366 00:19:21,920 --> 00:19:24,800 Speaker 1: a great day.