1 00:00:06,360 --> 00:00:09,600 Speaker 1: Welcome to Fear and Greed business news you can use today. 2 00:00:09,840 --> 00:00:12,920 Speaker 1: Business investment ramps up as the economy picks up steam, 3 00:00:13,280 --> 00:00:17,000 Speaker 1: The banking Regulator introduces new rules to damp and home lending, 4 00:00:17,320 --> 00:00:20,720 Speaker 1: and Barnaby Joyce quits the Nationals. Plus reports that almost 5 00:00:20,760 --> 00:00:23,760 Speaker 1: half the Big Bash League, a domestic cricket series, will. 6 00:00:23,640 --> 00:00:24,640 Speaker 2: Be up for sale. 7 00:00:25,040 --> 00:00:29,040 Speaker 1: And confirmation that dogs including two hours come from wolves. 8 00:00:29,320 --> 00:00:32,320 Speaker 1: It is Friday, the twenty eighth of November twenty twenty five. 9 00:00:32,760 --> 00:00:35,400 Speaker 1: I'm Michael Thompson. Good morning, Sean Ailmer. 10 00:00:36,159 --> 00:00:40,520 Speaker 2: Good morning, Michael. I'm loving our final stories each day 11 00:00:40,560 --> 00:00:42,840 Speaker 2: this week. Just a little bit quirky, should. 12 00:00:42,600 --> 00:00:47,400 Speaker 1: We say, yeah, limited business relevance, but guaranteed it's the 13 00:00:47,440 --> 00:00:49,120 Speaker 1: thing that we'll be talking about when you actually get 14 00:00:49,159 --> 00:00:49,760 Speaker 1: to work, right. 15 00:00:49,840 --> 00:00:50,680 Speaker 2: It's the edge to. 16 00:00:50,680 --> 00:00:51,520 Speaker 1: Hear about the wolves. 17 00:00:51,680 --> 00:00:52,600 Speaker 2: Yeah, the wolves. 18 00:00:52,720 --> 00:00:54,440 Speaker 1: Anyway, we'll get to that a bit later on. We 19 00:00:54,480 --> 00:00:56,880 Speaker 1: actually have real business news to talk about before then. 20 00:00:57,240 --> 00:01:00,680 Speaker 1: The main story this morning, Seawan. Business investment, a key 21 00:01:00,760 --> 00:01:04,720 Speaker 1: component of economic growth, had its biggest jump in four 22 00:01:04,880 --> 00:01:08,120 Speaker 1: years during the September quarter, as evidence grows that the 23 00:01:08,160 --> 00:01:10,640 Speaker 1: local economy is starting to pick up a head of steam. 24 00:01:11,240 --> 00:01:14,040 Speaker 2: That's right, a boom in new data centers pushed new 25 00:01:14,080 --> 00:01:18,040 Speaker 2: capital expenditure six point four percent higher way head of expectation. 26 00:01:18,160 --> 00:01:20,160 Speaker 2: Six point four percent is a big, big number in 27 00:01:20,200 --> 00:01:23,840 Speaker 2: that world. Data centers fit into the infomedia and telecom category, 28 00:01:23,880 --> 00:01:27,119 Speaker 2: and in terms of business investment that's the category way 29 00:01:27,160 --> 00:01:29,120 Speaker 2: in front of any other over the past five years 30 00:01:29,200 --> 00:01:33,320 Speaker 2: or so. Significantly, business are looking to invest even more 31 00:01:33,880 --> 00:01:38,120 Speaker 2: in coming months. Yesterday's data feeds into next week September 32 00:01:38,280 --> 00:01:42,000 Speaker 2: GDP figures really should give them quite the boost now. 33 00:01:42,200 --> 00:01:45,840 Speaker 2: Business investment in many ways has been a missing piece 34 00:01:45,840 --> 00:01:49,440 Speaker 2: of the economic puzzle in recent years. Yesterday's ABS figures 35 00:01:49,480 --> 00:01:52,160 Speaker 2: all got well for growth. In fact, business investment used 36 00:01:52,160 --> 00:01:54,000 Speaker 2: to be about twenty percent of GDP. It's down to 37 00:01:54,000 --> 00:01:56,480 Speaker 2: about eleven percent now, so we really need to pick 38 00:01:56,560 --> 00:01:58,720 Speaker 2: up in it. The data comes as a bunch of 39 00:01:58,760 --> 00:02:03,000 Speaker 2: economic indicators and anecdotal evidans suggests the economy is just 40 00:02:03,040 --> 00:02:05,880 Speaker 2: starting to come back to life. Yesterday, the banking regulator 41 00:02:05,920 --> 00:02:08,480 Speaker 2: warned of overheating in the housing market. More of that 42 00:02:08,560 --> 00:02:11,800 Speaker 2: shortly earlier this week, the October INFAC figures were well 43 00:02:11,840 --> 00:02:15,280 Speaker 2: above expectations, triggering a winding back of any interest rate 44 00:02:15,280 --> 00:02:18,680 Speaker 2: cut expectations. Remember last week the unemployment level fell from 45 00:02:18,720 --> 00:02:22,320 Speaker 2: four point five to four point three percent and inequity. 46 00:02:22,400 --> 00:02:29,160 Speaker 2: Several retailers, knownably Harvey Norman have outlined strong first quarter sales. Now, 47 00:02:29,240 --> 00:02:31,960 Speaker 2: not all retailers have done that. This week's Black Friday 48 00:02:32,040 --> 00:02:35,320 Speaker 2: Cyber Monday sales are critical, but there's enough evidence in 49 00:02:35,360 --> 00:02:38,520 Speaker 2: the retail sector to suggest that households are spending again. 50 00:02:40,440 --> 00:02:44,320 Speaker 1: Sean part of this that doesn't really make sense to me. 51 00:02:44,639 --> 00:02:48,400 Speaker 1: The economy might be picking up, but it does feel 52 00:02:48,440 --> 00:02:52,040 Speaker 1: like a lot of people wouldn't be an aren't feeling it. 53 00:02:52,120 --> 00:02:56,040 Speaker 1: The cost of living crisis hasn't gone away. Based on 54 00:02:56,080 --> 00:02:58,640 Speaker 1: what you said, Is it more about an improvement just 55 00:02:58,880 --> 00:03:02,600 Speaker 1: in very specific thic sectors like technology with all the 56 00:03:02,639 --> 00:03:03,680 Speaker 1: data centers, et cetera. 57 00:03:04,880 --> 00:03:07,000 Speaker 2: I mean, I think that's a fair comment. If you 58 00:03:07,040 --> 00:03:12,359 Speaker 2: look at the CAPEX numbers yesterday, investing in construction trending lower, 59 00:03:12,400 --> 00:03:15,560 Speaker 2: for example, so too in rental hiring and real estate services, 60 00:03:16,320 --> 00:03:20,600 Speaker 2: mining and retail trade are flatlining. I suppose the risk 61 00:03:20,720 --> 00:03:24,800 Speaker 2: is that tech and sectors associated with tech really outperformed, 62 00:03:25,200 --> 00:03:29,000 Speaker 2: while will outperform, while others around housing construction underperform, and 63 00:03:29,360 --> 00:03:32,480 Speaker 2: that is a real risk sitting over all this, of 64 00:03:32,480 --> 00:03:34,960 Speaker 2: course is inflation. It remains a problem. We've had three 65 00:03:35,040 --> 00:03:38,200 Speaker 2: rate cuts, but given prices and our rising faster than 66 00:03:38,200 --> 00:03:41,000 Speaker 2: the Reserve Bank once, maybe we're headed for a rate hike. 67 00:03:41,280 --> 00:03:43,240 Speaker 2: I mean, even talk of a rate hike can pretty 68 00:03:43,280 --> 00:03:48,440 Speaker 2: quickly dampen any rebound. But to your question, I definitely, Mike. 69 00:03:48,520 --> 00:03:49,840 Speaker 2: We might be able to talk about a two or 70 00:03:49,840 --> 00:03:51,840 Speaker 2: three speed economy at some point in the future. That'd 71 00:03:51,880 --> 00:03:55,600 Speaker 2: be very exciting. But right now we are definitely seeing 72 00:03:55,760 --> 00:04:00,680 Speaker 2: some real green shoots, some real strength in parts the market, 73 00:04:01,240 --> 00:04:04,080 Speaker 2: like technology data centers, but not in others. 74 00:04:04,360 --> 00:04:07,840 Speaker 1: Okay, all right, not you did mention before almost In 75 00:04:07,920 --> 00:04:11,880 Speaker 1: passing new rules for the housing market, the Financial Services 76 00:04:11,920 --> 00:04:16,160 Speaker 1: Regulator has introduced new restrictions that limit how much banks 77 00:04:16,160 --> 00:04:19,839 Speaker 1: can lend and how much some borrowers can receive, because 78 00:04:19,839 --> 00:04:23,360 Speaker 1: it's growing wary of rising risks in the property market. 79 00:04:23,960 --> 00:04:28,360 Speaker 2: Yes, so this is for home occupies and investors. The 80 00:04:28,440 --> 00:04:32,080 Speaker 2: Strain Credential Regulation Authority will limit loans made by banks 81 00:04:32,080 --> 00:04:36,839 Speaker 2: for mortgages to six times the borrower's income from early 82 00:04:36,920 --> 00:04:40,159 Speaker 2: next year, no more than twenty percent of a bank's 83 00:04:40,360 --> 00:04:45,040 Speaker 2: new mortgage lending will be available to customers borrowing six 84 00:04:45,080 --> 00:04:46,919 Speaker 2: times or more their income. 85 00:04:47,440 --> 00:04:52,679 Speaker 1: How does that work? Maybe perhaps if it pains an example, yes, 86 00:04:52,760 --> 00:04:56,200 Speaker 1: an audio example. Sure, normally you'd use a whiteboard for this, 87 00:04:56,320 --> 00:04:58,080 Speaker 1: but you're going to have to adjust with words. 88 00:04:58,680 --> 00:05:00,880 Speaker 2: So Sidney is probably a good example. I mean it's 89 00:05:00,920 --> 00:05:03,880 Speaker 2: it's sort of at one end of the market, so 90 00:05:04,000 --> 00:05:07,200 Speaker 2: I take that. But the median house price in Sydney 91 00:05:07,279 --> 00:05:09,640 Speaker 2: is nearly is what's one point nine two million, it's 92 00:05:09,640 --> 00:05:12,280 Speaker 2: nearly two million, so let's say two million. Let's say 93 00:05:12,279 --> 00:05:14,920 Speaker 2: you say the twenty percent deposit pretty normal, four hundred 94 00:05:14,920 --> 00:05:16,440 Speaker 2: thousand dollars. I don't know how you do that, but 95 00:05:16,480 --> 00:05:19,360 Speaker 2: you manage to do that. There's also money for stamp duty, 96 00:05:19,440 --> 00:05:21,839 Speaker 2: all the extras. Let's say you don't need to you know, 97 00:05:21,839 --> 00:05:24,160 Speaker 2: you say for that as well, will be generous. So 98 00:05:24,400 --> 00:05:27,360 Speaker 2: you need to borrow one point six million. So that's 99 00:05:27,400 --> 00:05:29,960 Speaker 2: the four hundred thousand and two million minus is four 100 00:05:30,040 --> 00:05:33,120 Speaker 2: hundred thousand, one point six million. That means to get 101 00:05:33,160 --> 00:05:37,880 Speaker 2: a loan, you're going to have to earn one sixth 102 00:05:37,960 --> 00:05:41,000 Speaker 2: of that, which is two hundred and sixty seven thousand 103 00:05:41,040 --> 00:05:44,520 Speaker 2: dollars a year. Not many people earn two hundred and 104 00:05:44,560 --> 00:05:46,039 Speaker 2: sixty seven thousand dollars a year. 105 00:05:46,200 --> 00:05:49,039 Speaker 1: Oh wow, And suddenly you can see this becomes a 106 00:05:49,080 --> 00:05:53,320 Speaker 1: real challenge for a lot of those critical services industries 107 00:05:53,360 --> 00:05:56,279 Speaker 1: that think you're kind of your teachers, police, fieries, et cetera. 108 00:05:57,520 --> 00:05:59,480 Speaker 1: And they then get priced out of markets as well. 109 00:05:59,520 --> 00:06:02,120 Speaker 1: This this, this is quite quite significant. 110 00:06:02,720 --> 00:06:06,520 Speaker 2: Yeah, I mean appa chare. John Lonsdale spoke about investors. 111 00:06:06,520 --> 00:06:09,640 Speaker 2: So what you find investors take on a lot of leverage, 112 00:06:10,480 --> 00:06:12,760 Speaker 2: so their incomes. If you've got one or two or 113 00:06:12,760 --> 00:06:16,720 Speaker 2: three investment homes, you don't have the income necessarily to 114 00:06:17,440 --> 00:06:19,440 Speaker 2: meet these guidelines. And I think they're trying to take 115 00:06:19,440 --> 00:06:22,239 Speaker 2: this team particularly out of that. He said. The regulator 116 00:06:22,320 --> 00:06:25,120 Speaker 2: is not prepared to wait for a buildup of trouble 117 00:06:25,240 --> 00:06:28,240 Speaker 2: in the sector, so decided to introduce the debt to 118 00:06:28,279 --> 00:06:30,000 Speaker 2: income rule. There'll be a lot of people who are 119 00:06:30,000 --> 00:06:31,440 Speaker 2: not happy about this at all. 120 00:06:31,400 --> 00:06:33,440 Speaker 1: Okay, but APRA's trying to get in ahead of the game. 121 00:06:33,480 --> 00:06:35,600 Speaker 1: They're trying, that's to stop it, which makes a lot 122 00:06:35,600 --> 00:06:36,440 Speaker 1: of sense, right. 123 00:06:38,040 --> 00:06:41,359 Speaker 2: It does. I don't know, I find this a bit difficult. 124 00:06:41,360 --> 00:06:43,360 Speaker 2: The banks aren't a rock and a hard place here 125 00:06:43,560 --> 00:06:45,279 Speaker 2: because they've got to five the rules from APRA. But 126 00:06:45,320 --> 00:06:48,240 Speaker 2: then they've got customers rightly saying, hey, you know, can't 127 00:06:48,279 --> 00:06:51,080 Speaker 2: we lend us money? And the banks say, well, no, 128 00:06:51,160 --> 00:06:54,200 Speaker 2: we can't because under this rule and other prudential regulations, 129 00:06:54,200 --> 00:06:56,400 Speaker 2: we can only learn so much. So suddenly you're getting 130 00:06:56,400 --> 00:07:00,960 Speaker 2: a bunch of people, construction people going to private credit. 131 00:07:01,120 --> 00:07:01,320 Speaker 1: Yep. 132 00:07:01,560 --> 00:07:04,440 Speaker 2: Now that might be great, but you've got to get 133 00:07:04,480 --> 00:07:06,720 Speaker 2: the right provider of private credit. And if you get 134 00:07:06,760 --> 00:07:09,720 Speaker 2: the right provider, fantastic. If you don't, you know, it's 135 00:07:09,760 --> 00:07:12,280 Speaker 2: not quite as well regulated. So there's flow and effects 136 00:07:12,320 --> 00:07:13,040 Speaker 2: from all these things. 137 00:07:13,120 --> 00:07:15,920 Speaker 1: Okay, all right, plenty in that one. As you say, 138 00:07:15,920 --> 00:07:19,400 Speaker 1: there probably be plenty of reaction to it. Barnaby Joyce, 139 00:07:19,480 --> 00:07:22,640 Speaker 1: this is something else that stirred up a bit of reaction. Reaction. 140 00:07:22,760 --> 00:07:27,119 Speaker 1: Sean Barnaby Joyce has formally resigned from the Nationals, ending 141 00:07:27,200 --> 00:07:31,280 Speaker 1: his twenty year parliamentary career with the party and clearing 142 00:07:31,400 --> 00:07:34,960 Speaker 1: the way for him to join right wing minor party 143 00:07:35,000 --> 00:07:38,600 Speaker 1: One Nation. Thoughie he's not saying that yet. 144 00:07:39,320 --> 00:07:42,560 Speaker 2: No he I mean he announced the decision in a 145 00:07:42,560 --> 00:07:45,720 Speaker 2: statement to the House of Reps yesterday. Twice Leader of 146 00:07:45,760 --> 00:07:49,640 Speaker 2: the NATS twice Deputy prime Minister. He said he had 147 00:07:49,680 --> 00:07:54,160 Speaker 2: not had not had conversations with National leader David Little 148 00:07:54,160 --> 00:07:57,200 Speaker 2: Proud about staying in the party, which I just find 149 00:07:57,680 --> 00:08:01,200 Speaker 2: extraordinary on its own, said he doesn't think the Coalition 150 00:08:01,200 --> 00:08:03,800 Speaker 2: can win the next election and those focusing on winning 151 00:08:03,840 --> 00:08:06,240 Speaker 2: back Teal seats for pursuing the wrong strategy. He also 152 00:08:06,320 --> 00:08:09,960 Speaker 2: highlighted the shift towards the right in many major countries, 153 00:08:10,240 --> 00:08:12,920 Speaker 2: including the US. Of course, he didn't confirm will join 154 00:08:13,000 --> 00:08:16,000 Speaker 2: One Nation. He did say he was strongly considering accepting 155 00:08:16,040 --> 00:08:20,360 Speaker 2: a proposal to run as a one Nation Senate candidate 156 00:08:20,440 --> 00:08:21,440 Speaker 2: in New South Wales. 157 00:08:22,800 --> 00:08:24,920 Speaker 1: They were lining up to have a crack add him yesterday, 158 00:08:24,920 --> 00:08:27,360 Speaker 1: weren't they, former colleague or yeah. 159 00:08:27,520 --> 00:08:29,360 Speaker 2: D Ryan center all the Nats and fair I mean 160 00:08:29,560 --> 00:08:31,000 Speaker 2: fair enough, yeah, fair enough. 161 00:08:31,080 --> 00:08:32,760 Speaker 1: Yeah, he was the leader. He's been part of that 162 00:08:32,800 --> 00:08:34,800 Speaker 1: party for a very long time and it's not a 163 00:08:34,800 --> 00:08:36,760 Speaker 1: good look for the party or for the coalition for 164 00:08:36,840 --> 00:08:39,920 Speaker 1: someone who has been pivotal to the success of that 165 00:08:39,960 --> 00:08:42,960 Speaker 1: party over some time to be leaving. But he did 166 00:08:42,960 --> 00:08:46,480 Speaker 1: say that yes, haven't made any decisions, might go into business, 167 00:08:46,840 --> 00:08:50,280 Speaker 1: might leave this place entirely. Come on, barnaby, we all 168 00:08:50,320 --> 00:08:52,200 Speaker 1: know you're going to one nation. You wouldn't have been 169 00:08:52,240 --> 00:08:54,760 Speaker 1: sharing a stake with Pauline Hanson the other night if 170 00:08:54,760 --> 00:08:58,960 Speaker 1: you weren't really really about to do it anyway, a 171 00:08:58,960 --> 00:09:01,679 Speaker 1: lot still to get through, including Sean the story We're 172 00:09:01,720 --> 00:09:04,640 Speaker 1: all waiting for the Chualas and wolves back in the 173 00:09:04,640 --> 00:09:10,920 Speaker 1: moment with the rest of the day's business news. 174 00:09:13,320 --> 00:09:13,600 Speaker 2: Sean. 175 00:09:13,640 --> 00:09:16,160 Speaker 1: Prime Minister Anthony Albernzi has done a deal with the 176 00:09:16,200 --> 00:09:20,760 Speaker 1: Greens to pass Labour's overhaul of Australia's environmental laws on 177 00:09:20,800 --> 00:09:23,880 Speaker 1: the last day before Parliament breaks for the summer recess. 178 00:09:24,360 --> 00:09:26,920 Speaker 2: The government gave a series of concessions to strength and 179 00:09:27,000 --> 00:09:29,440 Speaker 2: protection of native forests and bush land, to carve out 180 00:09:29,440 --> 00:09:33,280 Speaker 2: fossil fuel projects from fast track and national interest approval pathways. 181 00:09:33,600 --> 00:09:36,160 Speaker 2: Under the changes, regional forestry agreements in New South Wales 182 00:09:36,240 --> 00:09:39,880 Speaker 2: and Tasmania, and high risk agricultural land clearing will be 183 00:09:39,960 --> 00:09:45,120 Speaker 2: brought under the new Environment Protection and Biodiversity of Conservation Act. 184 00:09:45,160 --> 00:09:49,199 Speaker 2: That's from the middle of twenty twenty seven now. Yesterday's 185 00:09:49,280 --> 00:09:53,200 Speaker 2: move very much has angered a bunch of farmers, forestry groups. 186 00:09:53,840 --> 00:09:55,760 Speaker 2: Labours tried to sweeten the deal with a three hundred 187 00:09:55,800 --> 00:09:58,960 Speaker 2: million dollar forestry fund, which Albernizi said would deliver a 188 00:09:58,960 --> 00:10:02,360 Speaker 2: bigger and more sustainable logging industry. The Green's also secured 189 00:10:02,440 --> 00:10:05,880 Speaker 2: an additional fifty million dollars for the ABC to produce 190 00:10:05,880 --> 00:10:09,280 Speaker 2: Australian content got nothing to do with environment whatsoever, but 191 00:10:09,360 --> 00:10:12,280 Speaker 2: that was just drown in. There was also changes to 192 00:10:12,320 --> 00:10:15,040 Speaker 2: address business concerns. The government will make clearer a power 193 00:10:15,080 --> 00:10:17,120 Speaker 2: that would allow the Minister to kill off projects at 194 00:10:17,120 --> 00:10:21,000 Speaker 2: a deem to have unacceptable impacts impacts before they're fully assessed. 195 00:10:21,520 --> 00:10:24,320 Speaker 2: Label will also impose stricter conditions on the powers of 196 00:10:24,320 --> 00:10:27,840 Speaker 2: the new National Environmental Protection Agency, which kicks in next year. 197 00:10:28,360 --> 00:10:32,160 Speaker 1: The gender pay gap SEAN is narrowing, but still remains 198 00:10:32,240 --> 00:10:35,560 Speaker 1: too wide, with women still earning on average about twenty 199 00:10:35,600 --> 00:10:38,080 Speaker 1: eight thousand dollars less than men now. 200 00:10:38,240 --> 00:10:40,800 Speaker 2: That's less than one percent improvement on last year. According 201 00:10:40,800 --> 00:10:44,000 Speaker 2: to data released by the Workplace Gender Equality Agency, in 202 00:10:44,040 --> 00:10:47,160 Speaker 2: twenty twenty five, women earned on average seventy eight point 203 00:10:47,320 --> 00:10:51,240 Speaker 2: nine cents for every dollar a man earns. Finance Minister 204 00:10:51,840 --> 00:10:54,800 Speaker 2: Katie Gallagher said there is progress, though not as fast 205 00:10:54,840 --> 00:10:56,680 Speaker 2: as many women in the country would like. 206 00:10:57,400 --> 00:10:59,360 Speaker 1: Quick wrap of the market's what happened yesterday on the 207 00:10:59,400 --> 00:11:00,000 Speaker 1: ASX show. 208 00:11:00,679 --> 00:11:04,000 Speaker 2: SMPASX two hundred closed up just to touch eighty six 209 00:11:04,120 --> 00:11:07,360 Speaker 2: hundred and seventeen points, steadier day than recent sessions. Broadly, 210 00:11:07,360 --> 00:11:09,560 Speaker 2: the tech stocks did best on the back of a 211 00:11:09,600 --> 00:11:13,000 Speaker 2: strong knight on Wall Street. Energy stocks did worst, and 212 00:11:13,000 --> 00:11:14,880 Speaker 2: not a lot going on with the banks. CSL and 213 00:11:14,880 --> 00:11:18,280 Speaker 2: Goodman outperformed. Rear Tinto Fortescue Metals lower. One that did 214 00:11:18,320 --> 00:11:21,400 Speaker 2: do well wise Teach Global share price up six percent. Fine, 215 00:11:21,440 --> 00:11:23,440 Speaker 2: it's some good news for that struggling software group. 216 00:11:23,720 --> 00:11:27,720 Speaker 1: Indeed, Now Cricket Australia is aiming to raise six hundred 217 00:11:27,840 --> 00:11:31,280 Speaker 1: million dollars from the partial privatization of the Big Bash 218 00:11:31,360 --> 00:11:32,360 Speaker 1: League franchises. 219 00:11:32,800 --> 00:11:36,199 Speaker 2: The administrative body intends to sell forty nine percent of 220 00:11:36,240 --> 00:11:40,320 Speaker 2: what could eventually be ten franchises in the domestic twenty 221 00:11:40,400 --> 00:11:44,040 Speaker 2: twenty competition, according to a report in The Australian. Now, 222 00:11:44,080 --> 00:11:45,720 Speaker 2: those of you who don't know what the Big Bash 223 00:11:45,800 --> 00:11:49,400 Speaker 2: League is domestic cricket tournament. Each team faces twenty overs. 224 00:11:49,440 --> 00:11:52,880 Speaker 2: They seem to be belting it the whole time. For mine, 225 00:11:53,000 --> 00:11:56,199 Speaker 2: it's on TV every night over the summer. If you're 226 00:11:56,240 --> 00:11:58,240 Speaker 2: really lucky you watch the test match during the day, 227 00:11:58,280 --> 00:12:00,680 Speaker 2: then the Big Bash cricket at night, watch cricket for 228 00:12:00,720 --> 00:12:04,520 Speaker 2: ten hours a day in summer, which I like the game. 229 00:12:04,600 --> 00:12:07,440 Speaker 1: But tell you what, it is a lot of cricket. 230 00:12:07,440 --> 00:12:10,760 Speaker 1: But it is extraordinary to see just the difference between say, 231 00:12:11,000 --> 00:12:13,000 Speaker 1: Test match cricket, and then you get into the Big 232 00:12:13,040 --> 00:12:14,720 Speaker 1: Bash where it is just chaos. 233 00:12:15,280 --> 00:12:18,200 Speaker 2: It is and it's amazing that they've created this product 234 00:12:18,640 --> 00:12:21,920 Speaker 2: that the market likes so much. Crew Australia will need 235 00:12:22,080 --> 00:12:25,000 Speaker 2: to seal agreements with the state bodies to realize the 236 00:12:25,080 --> 00:12:27,480 Speaker 2: vision value is a ten ten competition at one point 237 00:12:27,480 --> 00:12:31,880 Speaker 2: two billion dollars. Now, who would spend six hundred million 238 00:12:32,240 --> 00:12:35,880 Speaker 2: sixty million per team on average? And he thought the 239 00:12:35,920 --> 00:12:39,880 Speaker 2: Indian the Indian Premier League. Yeah yeah, same yeah, same 240 00:12:39,920 --> 00:12:43,200 Speaker 2: guys that probably put money into India or the Indian 241 00:12:43,240 --> 00:12:45,880 Speaker 2: Premier League more likely to come and put it into 242 00:12:46,200 --> 00:12:47,360 Speaker 2: the Australian Big Bash League. 243 00:12:47,400 --> 00:12:49,240 Speaker 1: See, I didn't realize you were asking me just then. 244 00:12:49,320 --> 00:12:51,480 Speaker 1: I thought you were asking one of your famous rhetorical 245 00:12:51,600 --> 00:12:55,360 Speaker 1: questions where you're taking yourself to be honest. 246 00:12:56,320 --> 00:12:58,280 Speaker 2: I started asking you and halfway through I thought you 247 00:12:58,360 --> 00:12:59,800 Speaker 2: might not know the answer, so I tried to make 248 00:12:59,840 --> 00:13:00,439 Speaker 2: it htorical. 249 00:13:00,520 --> 00:13:03,600 Speaker 1: After that, and instead we just drew attention to all 250 00:13:03,679 --> 00:13:06,960 Speaker 1: kinds of communication eras where you're waving at me and 251 00:13:07,040 --> 00:13:10,240 Speaker 1: I'm looking at you in the studio. Absolute chaos. It's 252 00:13:10,240 --> 00:13:13,360 Speaker 1: like a game of Big Bash now. International News Sean 253 00:13:13,960 --> 00:13:16,800 Speaker 1: the number of this is an interesting one. Out of 254 00:13:16,800 --> 00:13:19,719 Speaker 1: the US, the number of transactions of ten billion US 255 00:13:19,800 --> 00:13:22,480 Speaker 1: dollars or more have hit an all time record in 256 00:13:22,520 --> 00:13:28,840 Speaker 1: twenty twenty five, after Donald Trump's deregulatory push unleashed wall streets, 257 00:13:28,880 --> 00:13:31,840 Speaker 1: animal spirits and triggered a run of global deal making. 258 00:13:31,880 --> 00:13:34,760 Speaker 1: An absolute deal frenzy Sean, A. 259 00:13:34,800 --> 00:13:37,640 Speaker 2: Deal frenzy with animal spirits and everything. This week neighbors 260 00:13:38,120 --> 00:13:41,600 Speaker 2: ten point three billion at US dollar acquisition of South 261 00:13:41,679 --> 00:13:47,400 Speaker 2: Korea's biggest crypto exchange, up Bit, took this year's megadeal 262 00:13:47,440 --> 00:13:51,240 Speaker 2: total to sixty three, topping the twenty to fifteen record 263 00:13:51,280 --> 00:13:54,440 Speaker 2: according to The Financial Times. It comes despite a sluggish 264 00:13:54,440 --> 00:13:58,040 Speaker 2: start to the year after Trump Trump's Liberation Day tariffs 265 00:13:58,080 --> 00:14:01,400 Speaker 2: that's created volatility, not much going on, but deal's really 266 00:14:01,480 --> 00:14:03,600 Speaker 2: roared back in the second half of this year's CEOs 267 00:14:03,640 --> 00:14:07,320 Speaker 2: pounced on once in generation transactions. Union Pacific's eighty five 268 00:14:07,320 --> 00:14:11,040 Speaker 2: billion dollar bid for Norfolk Southern another railway company. There's 269 00:14:11,080 --> 00:14:13,440 Speaker 2: a fight of fifty five billion dollars Saudi backed take 270 00:14:13,520 --> 00:14:17,720 Speaker 2: private of Electronic Arts, the gaming group Anglo Americans fifty 271 00:14:17,720 --> 00:14:20,400 Speaker 2: billion dollar merger with tech don't mention that one a BHP, 272 00:14:20,920 --> 00:14:24,680 Speaker 2: and Kimberly Clark's foot nine billion dollar takeout on takeover 273 00:14:24,760 --> 00:14:27,960 Speaker 2: of thailand old maker Kenvu. The second half of the 274 00:14:28,000 --> 00:14:31,000 Speaker 2: year has been busiest. Trump kind of pulled back from 275 00:14:31,080 --> 00:14:34,120 Speaker 2: a full blown trade war with China, withdrew some of 276 00:14:34,160 --> 00:14:37,040 Speaker 2: his more aggressive tariffs, also doubled down on M and 277 00:14:37,080 --> 00:14:41,080 Speaker 2: A friendly measures, antitrustrials, et cetera. So we're just seeing 278 00:14:41,080 --> 00:14:45,160 Speaker 2: this absolute blurge in m and A activity. 279 00:14:45,960 --> 00:14:49,120 Speaker 1: To go from the most extreme kind of business story 280 00:14:49,320 --> 00:14:52,920 Speaker 1: to the complete other end of the spectrum. Here sean 281 00:14:53,520 --> 00:14:58,080 Speaker 1: a new collection of eight canine genomics papers. There's not 282 00:14:58,120 --> 00:15:01,080 Speaker 1: a sentence I thought I'd ever say on fear that's 283 00:15:01,120 --> 00:15:04,080 Speaker 1: been published this week. They have found that nearly two 284 00:15:04,240 --> 00:15:10,800 Speaker 1: thirds of modern dog breeds, including even two hours, contain 285 00:15:10,920 --> 00:15:12,600 Speaker 1: traces of wolf DNA. 286 00:15:13,240 --> 00:15:15,800 Speaker 2: And in fact some of these are quite recent wolf DNA. 287 00:15:16,520 --> 00:15:18,400 Speaker 2: What's this all got to do with business, though, Michael, 288 00:15:19,320 --> 00:15:23,240 Speaker 2: Nothing great story there. So twenty years ago, A pra, 289 00:15:23,560 --> 00:15:27,920 Speaker 2: a pure bred boxer, became the first domestic dog to 290 00:15:27,720 --> 00:15:32,040 Speaker 2: have her genome sequenced. That basically ushered in a new 291 00:15:32,120 --> 00:15:35,840 Speaker 2: era of canine genetics. Scientific scientists have been now sequenced 292 00:15:35,840 --> 00:15:40,000 Speaker 2: the genomes of thousands of dogs. Researchers are bringing all 293 00:15:40,080 --> 00:15:43,040 Speaker 2: this data together. That's this point, the end of it. 294 00:15:43,080 --> 00:15:47,080 Speaker 2: At the moment are the very important nuggets of information 295 00:15:47,160 --> 00:15:48,280 Speaker 2: from the dog scientists. 296 00:15:48,280 --> 00:15:52,520 Speaker 1: Michael dog nuggets do try and avoid stepping on those. 297 00:15:52,600 --> 00:16:00,240 Speaker 2: Usually, modern dogs are more highly inbred than previously must 298 00:16:00,240 --> 00:16:02,480 Speaker 2: have been in the late twentieth century. I reckon that's 299 00:16:02,520 --> 00:16:06,520 Speaker 2: the you know, the cavoodles. That's the hell. Certain inner 300 00:16:06,520 --> 00:16:08,720 Speaker 2: city is just designing there's only one breeded dog you 301 00:16:08,760 --> 00:16:12,760 Speaker 2: can have. The German shepherd is particularly interesting. Their population 302 00:16:12,920 --> 00:16:17,360 Speaker 2: tumbled during World War Two. Most US German shepherds today 303 00:16:17,360 --> 00:16:21,240 Speaker 2: can trace their ancestry back to one dog known as 304 00:16:21,360 --> 00:16:25,920 Speaker 2: Lance of fran Joe. Lance of Franjoe was, of course, 305 00:16:26,200 --> 00:16:29,840 Speaker 2: was famous for having a sloping back that hadn't been 306 00:16:29,840 --> 00:16:33,080 Speaker 2: common in the breed. But now that's everywhere. Yeah, totally. 307 00:16:33,720 --> 00:16:37,520 Speaker 2: While dogs come from wolves, the two species nowadays very 308 00:16:37,760 --> 00:16:43,360 Speaker 2: very rarely into breed and apart from chiuahwas so like 309 00:16:43,440 --> 00:16:46,040 Speaker 2: hunting dogs and sled dogs that they've got a lot 310 00:16:46,040 --> 00:16:51,080 Speaker 2: of wolf DNA, so to Labrador retrievers and cocker spaniels. 311 00:16:51,800 --> 00:16:57,120 Speaker 2: Little flow, my little flow at feast of a dog. 312 00:16:59,160 --> 00:17:04,520 Speaker 1: This story, it's got something for everyone. Really will finish 313 00:17:04,640 --> 00:17:07,560 Speaker 1: with actual business. I need to mention Fear and Greed 314 00:17:07,640 --> 00:17:10,480 Speaker 1: Q and A Sean coming up next. You're speaking to 315 00:17:10,600 --> 00:17:15,960 Speaker 1: Jardine's Steve Ween, who is answering a listener question for us, 316 00:17:16,320 --> 00:17:20,200 Speaker 1: and the question came from Michael and it's about CSL. 317 00:17:20,400 --> 00:17:23,400 Speaker 2: And it had nothing to do with you. Michael basically 318 00:17:23,400 --> 00:17:27,040 Speaker 2: said why is CSL in the doghouse? And Steve came 319 00:17:27,080 --> 00:17:30,720 Speaker 2: and gave four very I know, keeping it going for 320 00:17:31,240 --> 00:17:34,040 Speaker 2: very good reasons, and it was just a succinct way 321 00:17:34,720 --> 00:17:36,560 Speaker 2: about CUSL. Then I asked him with a hit buy 322 00:17:36,680 --> 00:17:38,600 Speaker 2: now that its value is so much lower. You'll have 323 00:17:38,640 --> 00:17:40,560 Speaker 2: to listen to find out his answer. Yeah. 324 00:17:40,600 --> 00:17:44,760 Speaker 1: Great, that is a fantastic tease, Sean. It is coming 325 00:17:44,800 --> 00:17:46,479 Speaker 1: up next in the Fear and Greed playlist on your 326 00:17:46,480 --> 00:17:49,680 Speaker 1: podcast platform or at Fearangreed dot com dot au, which 327 00:17:49,800 --> 00:17:51,960 Speaker 1: if you have your own question like Michael, who is 328 00:17:52,000 --> 00:17:54,280 Speaker 1: not me. It is another Michael. If you've got your 329 00:17:54,280 --> 00:17:56,600 Speaker 1: own question that you would like to put to an 330 00:17:56,600 --> 00:17:58,719 Speaker 1: expert and we can put it to them on your behalf, 331 00:17:58,960 --> 00:18:00,760 Speaker 1: then send it on through via the website and sign 332 00:18:00,840 --> 00:18:01,920 Speaker 1: up for our newsletter as well. 333 00:18:01,960 --> 00:18:03,520 Speaker 2: Thanks Sean, Thanks Michael. 334 00:18:03,680 --> 00:18:06,160 Speaker 1: It is Friday, the twenty eighth of November twenty twenty five. 335 00:18:06,200 --> 00:18:08,280 Speaker 1: Make sure you're following the podcast and please join us 336 00:18:08,280 --> 00:18:12,040 Speaker 1: online on LinkedIn, Instagram, x TikTok and Facebook. O'm Michael 337 00:18:12,080 --> 00:18:14,480 Speaker 1: Thompson and that was fear and greed. Have a great day.