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

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Speaker 1: Canberra sever's diplomatic ties with Iran after the country organized

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Speaker 1: two attacks on Australian soil. Australia Posts suspends parcel shipments

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Speaker 1: to the US, and a shoplifting crackdown helps bag Cole's

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Speaker 1: a bumper profit plus quantas under fire over a beard ban,

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Speaker 1: and there's a new billionaire athlete in town. It is Wednesday,

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Speaker 1: the twenty seventh of August twenty twenty five. I'm Michael

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Speaker 1: Thompson and good morning Natalie McDonald.

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Speaker 2: Good morning, Michael, Natalie.

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Speaker 1: The main story this morning, Australia has severed diplomatic ties

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Speaker 1: with Iran after Azio linked the country to at least

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Speaker 1: two anti Semitic attacks on Australian soil.

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Speaker 2: The attacks, including the fires that gutted Sydney's Lewis's Continental

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Speaker 2: Kitchen and Melbourne's at Us Israel Synagogue last year, were

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Speaker 2: reportedly orchestrated by Aram's Islamic Revolutionary Guard Corps using parties.

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Speaker 2: The Iranian ambassador to Australia and three other officials have

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Speaker 2: been expelled with seven days to leave. Operations at Australia's

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Speaker 2: embassy in the country have also been have also been suspended.

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Speaker 2: With all Australian diplomats already out of Iran, the IRCG

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Speaker 2: will be listed as a terrorist organization, with new laws

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Speaker 2: set to be considered by Federal Parliament. Law enforcement investigations continue,

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Speaker 2: though authority stress around is not behind all anti Semitic

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Speaker 2: acts in Australia.

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Speaker 1: Yes, still extremely confronting the idea that we have another

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Speaker 1: country that is actively targeting Australians on Australian soil. It

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Speaker 1: is the Prime Minister yesterday in holding this press conference

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Speaker 1: and there he was he was flanked outside Parliament by

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Speaker 1: the Foreign Minister Penny Wong and Home Affairs Minister Tiny

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Speaker 1: Burke and the Boss of ASIO. It was very very

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Speaker 1: serious and he spoke quite strongly, condemning the attacks as

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Speaker 1: extraordinary and dangerous acts of aggression.

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Speaker 2: He said, the Australian people want the killing and hatred

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Speaker 2: to stop, and they don't want the conflict in the

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Speaker 2: Middle East brought here. Iran has sought to do just that.

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Speaker 2: They've sought to harm and terrified Jewish Australians and to

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Speaker 2: sow hatred and division in our community. And speaking of

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Speaker 2: the Jewish community, the community and advocacy groups welcomed the

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Speaker 2: decisive action, emphasizing that it was long overdue. Foreign Minister

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Speaker 2: Penny Wong noted it is the first expulsion of a

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Speaker 2: foreign ambassador in Australia since World War II. But there's

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Speaker 2: bipartisan support for the action too, with the Opposition also

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Speaker 2: backing the government's decision.

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Speaker 1: Yeah, and I suppose, particularly when it comes to matters

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Speaker 1: of national security, it is very rare for there to

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Speaker 1: be any division between the two sides, so it's good

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Speaker 1: to see that quick response from both sides of politics. Now,

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Speaker 1: moving on to this onement I mentioned earlier, Natalie, Australia

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Speaker 1: Post has suspended most parcel shipments to the US, effective immediately.

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Speaker 1: This is a head of new Trump administration tariffs on

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Speaker 1: low value imports. Only letters, documents and gifts under one

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Speaker 1: hundred and fifty dollars will still be delivered. This is

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Speaker 1: going to have a major impact on businesses.

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Speaker 2: Businesses big and small. For Shaw Michael, the move comes

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Speaker 2: as the US ends and Exemption which previously allowed parcels

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Speaker 2: under eight hundred US dollars which is about twelve hundred

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Speaker 2: Australian to enter duty free from Friday. All parcels below

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Speaker 2: this threshold will face tariffs or flat fees, forcing carriers worldwide,

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Speaker 2: including Australia Post, to pause services until further notice while

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Speaker 2: they develop compliance solutions. Australia Post is working with authorities

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Speaker 2: and third party platforms to implement a system for collecting

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Speaker 2: duties and taxes. While private couriers such as FedEx continue

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Speaker 2: offering US deliveries but with uncertainty and potential costs. Some

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Speaker 2: small businesses have preemptively stopped US sales to avoid those

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Speaker 2: surprise fees.

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Speaker 1: Yeah, it's uncertainty, isn't it, And that's really sorry, damaging

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Speaker 1: for business. Looking of the US Defense Minister, Richard Miles

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Speaker 1: is preparing to meet with the US Secretary of Defense

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Speaker 1: for high level talks in Washington.

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Speaker 2: It comes as a former Pentagon official has urged Australia

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Speaker 2: to offer concrete commitments on how it would deploy Virginia

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Speaker 2: class nuclear powered submarines in the event of war. US

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Speaker 2: think tank the Center for Strategic and International Studies is

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Speaker 2: urging Australia and the US to streamline Pillar two of

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Speaker 2: the ORCAS Pact, focusing on autonomous systems, long rain strike

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Speaker 2: and integrated air defense rather than more broad areas like

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Speaker 2: AI and quantum computing. The US has asked the Albanese

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Speaker 2: government to increase defense spending to three and a half

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Speaker 2: percent of GDP, a request that has so far been

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Speaker 2: resisted by Australia.

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Speaker 1: There's a lot of talk, particularly in the Australian newspaper

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Speaker 1: reporting late yesterday that at this point there is still

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Speaker 1: no actual meeting locked in between Richard Miles and Pete

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Speaker 1: Haigserth who is going to see But these things often

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Speaker 1: have a way of working themselves out door, especially once

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Speaker 1: you're in town, right, you can't escape me forever. Now.

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Speaker 1: US President Donald Trump has had a big twenty four hours.

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Speaker 1: He is attempting to sack Lisa Cook, who is a

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Speaker 1: governor of the Federal Reserve, which is likely to end

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Speaker 1: up in the courts and raises concerns over the independence

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Speaker 1: of the US Central Bank, and that has had to

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Speaker 1: flow on effect then to gold prices as well, with

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Speaker 1: investors looking for that safe haven. He is also, though,

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Speaker 1: threatening to impose substantial tariffs on any country that taxes

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Speaker 1: or regulates American tech companies, warning that export restrictions on

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Speaker 1: US technology and ships could also follow.

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Speaker 2: So citing actions that quote harm or discriminate against US tech.

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Speaker 2: He said American companies are no longer the piggybank or

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Speaker 2: doormat of the world. His threats follow a similar standoff

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Speaker 2: with Canada, which dropped a proposed digital tax after facing

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Speaker 2: potential tariffs, though the US still imposed a thirty five

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Speaker 2: per cent tariff on some Canadian goods now. While Australia

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Speaker 2: wasn't specifically singled out here, the warning does put the

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Speaker 2: Albanese government's plans to charge international tech firms for using

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Speaker 2: Australian news content at risk. The comments, though, on the whole,

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Speaker 2: they're consistent with recent moves that we have seen from

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Speaker 2: the Trump administration as it invests in domestic chip production.

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Speaker 2: We saw it take a ten percent steak in Intel,

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Speaker 2: while Nvidio and AMD have agreed to pay fifteen percent

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Speaker 2: of Chinese revenues for export licenses.

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Speaker 1: All right, Okay, there's a lot in all of that.

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Speaker 1: We're going to take a quick break before we do that, though,

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Speaker 1: it is time for business by numbers. This is the

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Speaker 1: top three numbers to know for the week, brought to

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Speaker 1: you by zero zero dot com slash AU. The first

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Speaker 1: number is eight point five percent, which we haven't gotten

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Speaker 1: to yet, so it's really a teaser for what's about

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Speaker 1: to come. It is about the jump in the share

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Speaker 1: price of Coals after a bumper result from the supermarket giant.

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Speaker 1: But the fascinating part of that is why they've had

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Speaker 1: such a great result, which we'll explore in a sec

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Speaker 1: The second number is one hundred and fifty dollars. That

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Speaker 1: is the letters, parcels and gifts worth under one hundred

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Speaker 1: and fifty dollars that will still be delivered to the

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Speaker 1: US after Australia Posts suspended most shipments. And finally one

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Speaker 1: point one billion dollars that is Roger Federer's net worth,

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Speaker 1: the latest billionaire athlete. Great story that one. We'll get

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Speaker 1: to that one a little bit later. Quick Break will

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Speaker 1: be back in a moment with the rest of the

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Speaker 1: day's business news. Natalie Coles has reported a very healthy

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Speaker 1: full year profit as theft prevention measures cut losses from shoplifting,

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Speaker 1: even as staff are facing more threatening incidents in stores.

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Speaker 2: The Cohle's chief Exacs said stock losses had fallen back

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Speaker 2: to twenty fifteen levels after the rollout of security technologies.

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Speaker 2: These include things like SmartGates, trolley scanning, systems and enhanced

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Speaker 2: camera monitoring, while rival retailers continue to struggle with theft,

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Speaker 2: and of course we've been talking a lot about the

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Speaker 2: industrial scale theft the Rebel sport has been experiencing. Coal's

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Speaker 2: sales rose almost four percent forty four billion dollars, with

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Speaker 2: underlying net profit growing to just over one billion. It's

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Speaker 2: grocery arm grew four point three percent, supported by deeper promotions,

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Speaker 2: locked in low prices and strong growth in online sales.

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Speaker 2: But another crime related stat for you, tobacco sales at

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Speaker 2: coals thirty percent amid a rise in illicit tobacco trade shares,

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Speaker 2: and coals up eight and a half percent.

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Speaker 1: Now. Four to squ Metals released its results yesterday. It's

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Speaker 1: obviously not faring so well because of the iron ore

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Speaker 1: price slipping, but it's also facing a rocky road to

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Speaker 1: achieving its green ambitions because the miner's carbon emissions actually

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Speaker 1: jumped twelve percent last year, even as it vows to

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Speaker 1: still reach zero emissions by twenty thirty, which is actually

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Speaker 1: not that far away.

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Speaker 2: No, don't that it's actually really soon, But you're right.

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Speaker 2: Four Skew Metals chief said that emissions will keep rising

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Speaker 2: for at least two years, but expects cuts once diesel

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Speaker 2: trucks are replaced with low emissions vehicles. So it is

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Speaker 2: on the road map, just not as soon as that turnaround.

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Speaker 2: In that turnaround, as you would expect, hydrogen projects worth

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Speaker 2: over a billion dollars have been paused or scrapped with

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Speaker 2: a one hundred and fifty eight million US dollar write off,

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Speaker 2: with Forteskew's strong iron or profits funding this transition. Chairman

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Speaker 2: Andrew Forest insists the company remains committed to green iron

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Speaker 2: and hydrogen projects globally. We're spending on clean energy, actually

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Speaker 2: expected to top seven hundred million US dollars this year.

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Speaker 2: Despite analyst warning that these moves could hurt shareholders. Investors

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Speaker 2: are cautious though. Net profits down forty one percent to

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Speaker 2: three point three seven billion US dollars, largely due to

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Speaker 2: those lower iron ore prices. As you mentioned, this weighing

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Speaker 2: on shares yesterday, finishing the day down almost four percent.

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Speaker 1: Yeah, it wasn't a great day overall on the market,

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Speaker 1: was it.

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Speaker 2: No. We saw the S and pas Sex two hundred

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Speaker 2: following global markets lower in what was really a broad

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Speaker 2: based sell off. We had eight of the eleven sectors

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Speaker 2: down finishing the day off thirty seven points zero point

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Speaker 2: four percent to eighty nine hundred thirty five. Materials the

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Speaker 2: big loser, weighed down by force skew. As we've mentioned,

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Speaker 2: utilities also drag coals, however, propping up the consumer staples.

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Speaker 2: But some of those other earning season moves included web

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Speaker 2: travel falling nearly six percent after softer than expected results

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Speaker 2: in the first half. Westfield operator Center Group rose one

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Speaker 2: and a half percent on some pretty solid numbers, and

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Speaker 2: Tyro payments punished after net profit after tax fell thirty percent,

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Speaker 2: ending the date two and a half percent lower.

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Speaker 1: Now, Australia's jobs market showed some fresh signs of stability

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Speaker 1: in July, with SIKH reporting a zero point three percent

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Speaker 1: rise in job ads. That is the first time since

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Speaker 1: mid twenty twenty two that ads have grown for two

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Speaker 1: consecutive months. That sounds like a trend.

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Speaker 2: There are some positives to be taken from this. Growth

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Speaker 2: was pretty broad based across the States except the ACT,

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Speaker 2: where ads fell one and a half percent. Applications per

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Speaker 2: AD dipped for the first time in over two years,

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Speaker 2: though still remain well above pre COVID levels. We saw

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Speaker 2: demand in South Australia and Western Australia, driven by new

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Speaker 2: mining and renewable projects and ongoing skills shortages. Meanwhile, advertised

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Speaker 2: salaries rose just zero point two percent in July. That's

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Speaker 2: the slowest pace in four years, Seeks Senior economist doctor

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Speaker 2: Blair Chapman says salaries are still outpacing living costs thanks

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Speaker 2: to falling mortgage interest charges.

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Speaker 1: It is worth a mention as well, while we're talking

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Speaker 1: about jobs, that the Reserve Bank Boards minutes came out yesterday.

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Speaker 1: This is from the meeting two weeks ago where the

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Speaker 1: interest rate were obviously cut, but the minute said that

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Speaker 1: preserving full employment while bringing inflation sustainably back to target

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Speaker 1: will likely require further reductions over the year ahead. So

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Speaker 1: I mean the Reserve banks focus clearly on the employment

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Speaker 1: market at the moment and signaling that hey, there might

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Speaker 1: be one, two, potentially three more rate cuts still to come. Now.

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Speaker 1: To go from jobs, well, this is a kind of

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Speaker 1: a job. Being a pilot is a job, right, So.

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Speaker 2: There it literally is it literally is someone's it is.

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Speaker 1: Indeed, Quantus is pushing to enforce a clean shaven rule

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Speaker 1: for all pilots and it is look it hasn't gone

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Speaker 1: down well has it?

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Speaker 2: No, to say the least, So let's get into it.

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Speaker 2: Quantus and Jetstar pilots already face a beard ban, but

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Speaker 2: Quantus Link staff has been exempt.

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Speaker 1: Which is the regional equivalent. Yeah.

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Speaker 2: Now, in an effort to introduce one standard, which which

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Speaker 2: is understandable, the airline commissioned a British aeromedical consultancy to

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Speaker 2: argue that beards interfere. I can't believe I'm talking about

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Speaker 2: this interfere with oxygen masks seals, citing safety risks. Now

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Speaker 2: here's where the drama ensues. Not only do US Aviation

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Speaker 2: researchers dispute the findings, but the Australian and International Pilots

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Speaker 2: Association have criticized Quantus management for inconsistency, pointing out that

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Speaker 2: cabin crew enjoy grooming flexibility and where at least partners,

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Speaker 2: pilots can keep beards. And it's all it's all in

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Speaker 2: to online one quote. It's indicative of an arrogant Quantus

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Speaker 2: management who always feel they know best and enjoy lecturing

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Speaker 2: all who will listen, said one pilot in an online forum.

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Speaker 2: And largely the commentary is that it's bigger than beards, Michael,

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Speaker 2: It is it's a leadership issue, it's a management issue,

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Speaker 2: but it is at its heart about beards.

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Speaker 1: It really is just about beards in the end, isn't it.

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Speaker 1: Turning to international news now and Elon Musk's AI startup

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Speaker 1: xai has filed a lawsuit against Apple and Chat gpte

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Speaker 1: maker open Ai, accusing them of conspiring to block competition.

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Speaker 2: Apple has exclusively partnered with open ai to integrate chat

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Speaker 2: gpt into its operating system for iPhones, iPads, and max,

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Speaker 2: a move that the US federal court case claims has

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Speaker 2: locked up markets and sidelined rival apps like Musk's groc

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Speaker 2: despite high user ratings. Musk is arguing that Apple's app

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Speaker 2: store policies make it impossible for other AI companies to

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Speaker 2: reach top rankings. His company is seeking billions in damages.

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Speaker 2: Now open ai has dismissed the filing as part of

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Speaker 2: Musk's this is a quote, this is not me ongoing

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Speaker 2: pattern of harassment. Musk, who co founded open ai in

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Speaker 2: twenty fifteen before splitting its leadership, is separately suing open

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Speaker 2: ai and chief exec Sam Moltman over its shift to

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Speaker 2: a for profit model. Apple opting not to comment they're

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Speaker 2: staying out of it. Legal experts say the case could

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Speaker 2: in fact be the first major test of whether AI

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Speaker 2: constitutes a distinct market under US antitrust law.

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Speaker 1: Now I love this final story. Roger Federer has officially

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Speaker 1: joined the billionaire club. The Swiss tennis legend boasts a

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Speaker 1: net worth now of one point one billion dollars. This

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Speaker 1: is according to Forbes, and they also pointed out separately

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Speaker 1: as well that he is one of only a handful

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Speaker 1: of players who actually earned a billion dollars in pre

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Speaker 1: tax earnings as well while he was still playing. But

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Speaker 1: now he's actually worth more than a billion dollars in

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Speaker 1: kind of post tax and all of his investments. It's great.

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Speaker 2: So let's break it down then and see where'd the

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Speaker 2: cash come from. While Federer's twenty Grand Slam titles and

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Speaker 2: one hundred and thirty one million dollars in prize money

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Speaker 2: put him amongst the tennis greats, it's actually his off

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Speaker 2: court game that made him wealthy, including about a billion

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Speaker 2: dollars from endorsements and appearances during his career with brands

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Speaker 2: like Rolex, Mercedes, Benz and uniclone. In fact, that Uniclo

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Speaker 2: tie up was a really big deal. It was the

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Speaker 2: first time that they had actually made tennis kit for

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Speaker 2: a player. His smartest move, though, was actually a minority

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Speaker 2: stake in Swiss shoe brand On, which has now valued

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Speaker 2: at nearly fifteen billion dollars. That gives him a slice

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Speaker 2: worth over three hundred and seventy five million dollars. There's

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Speaker 2: some expensive shoes, but how's this for diversifying. He also

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Speaker 2: co founded the Labor Cup and invested in food tech

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Speaker 2: startup not Co. He is just the seventh athlete to

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Speaker 2: reach the three Comma club, alongside Michael Jordan, Tiger Woods,

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Speaker 2: Lebron James, and Massy. But you know who doesn't feature

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Speaker 2: m thatt list Michael and you know exactly what I'm

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Speaker 2: going to.

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Speaker 1: Say, any female athletes.

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Speaker 2: There's no female athletes there. But you've got to think

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Speaker 2: Serena Williams must be getting close, pretty close?

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Speaker 1: All right? Good story. Up next is Fear and Greed

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Speaker 1: Q and A. Today's guest is Stephen Mars, the co

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Speaker 1: CEO of Guzmani Gomez. All about the results and the

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Speaker 1: response from investors. The share price plummeted, but Stephen Marks

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Speaker 1: is the most enthusiastic CEO you will ever hear, it's

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Speaker 1: worth listening just for that is Courtsey. Have our friends

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Speaker 1: at Osby's, Australia's leading provider of live and on demand

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

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Speaker 1: and startups. Sign up for free at osbies dot com

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Speaker 1: dot au. Thank you Natalie, Thank you Michael. It is Wednesday,

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Speaker 1: the twenty seventh of August twenty twenty five. Make sure

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Speaker 1: you're following the podcast and please join us online on LinkedIn, Instagram,

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Speaker 1: ex TikTok and Facebook. I'm Michael Thompson and that was

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Speaker 1: Fear and Greed. Have a great day.