1 00:00:05,880 --> 00:00:08,400 Michael Thompson: Today on Fear and Greed. The federal government set to 2 00:00:08,440 --> 00:00:11,280 Michael Thompson: hand down a federal budget with deficits for many years 3 00:00:11,280 --> 00:00:14,640 Michael Thompson: and cost of living handouts for now. Australians are heading 4 00:00:14,640 --> 00:00:18,159 Michael Thompson: overseas in record numbers, and Health Minister Mark Butler is 5 00:00:18,200 --> 00:00:21,800 Michael Thompson: worried that private health companies are price gouging members. Plus 6 00:00:21,920 --> 00:00:25,200 Michael Thompson: changes to the ASX from today, and a record valuation 7 00:00:25,320 --> 00:00:28,240 Michael Thompson: for a US basketball team. Welcome to Fear and Greed. 8 00:00:28,320 --> 00:00:30,800 Michael Thompson: Daily business news for people who make their own decisions. 9 00:00:30,880 --> 00:00:34,200 Michael Thompson: It is Monday, the twenty fourth of March twenty twenty five. 10 00:00:34,479 --> 00:00:36,880 Michael Thompson: I'm Michael Thompson and good morning, Sean Aylmer. 11 00:00:37,240 --> 00:00:39,120 Sean Aylmer: Good morning, Michael. 12 00:00:39,120 --> 00:00:40,760 Michael Thompson: Sean, the main story this morning. It is a big, 13 00:00:40,800 --> 00:00:43,479 Michael Thompson: big week. The federal government will hand down a budget 14 00:00:43,600 --> 00:00:47,559 Michael Thompson: tomorrow night, with deficits expected now for the foreseeable future, 15 00:00:48,280 --> 00:00:52,400 Michael Thompson: potentially a better economic outlook, and spending initiatives very likely 16 00:00:52,479 --> 00:00:53,960 Michael Thompson: to be aimed at winning an election right? 17 00:00:54,120 --> 00:00:57,080 Sean Aylmer: You are right, Michael, It is a very big week. 18 00:00:57,120 --> 00:00:59,720 Sean Aylmer: Not only do we get a budget, but by Sunday night, 19 00:01:00,120 --> 00:01:03,160 Sean Aylmer: well we could well have an election as well. What 20 00:01:03,240 --> 00:01:06,319 Sean Aylmer: that means is that the budget tomorrow night is definitely 21 00:01:06,560 --> 00:01:09,319 Sean Aylmer: not going to include too many nasties. Many of the 22 00:01:09,360 --> 00:01:12,400 Sean Aylmer: government spending initiatives have already been announced, such as the 23 00:01:12,520 --> 00:01:16,000 Sean Aylmer: lowering of the out of pocket expenses for pharmaceuticals. Over 24 00:01:16,040 --> 00:01:18,720 Sean Aylmer: the weekend, Prime Minister Anthony Albanese said he'll extend the 25 00:01:18,800 --> 00:01:22,520 Sean Aylmer: energy rebate instituted last year until the end of this 26 00:01:22,600 --> 00:01:25,559 Sean Aylmer: year to help with cost of living pressures. Seventy five 27 00:01:25,640 --> 00:01:29,160 Sean Aylmer: dollars off everyone's energy bill every quarter. So we know 28 00:01:29,840 --> 00:01:32,759 Sean Aylmer: some of the goodies and we don't expect too many baddies. 29 00:01:34,040 --> 00:01:36,160 Michael Thompson: Obviously, we've got the cost of living relief by the 30 00:01:36,200 --> 00:01:39,520 Michael Thompson: pharmaceutical and energy bill promises. We have talked about that 31 00:01:39,560 --> 00:01:40,920 Michael Thompson: a bit already. What else do we know, Sean? 32 00:01:41,280 --> 00:01:45,039 Sean Aylmer: Well, economists think the budget deficit for this financial year 33 00:01:45,080 --> 00:01:47,720 Sean Aylmer: will come in around twenty to twenty five billion dollars. 34 00:01:48,120 --> 00:01:51,520 Sean Aylmer: That compares to twenty seven billion dollars forecast late last year. 35 00:01:51,920 --> 00:01:54,280 Sean Aylmer: Over four years, it's likely to come in around that 36 00:01:54,320 --> 00:01:57,080 Sean Aylmer: one hundred and forty billion dollar mark. Treasure Jim Chalmers 37 00:01:57,160 --> 00:01:59,650 Sean Aylmer: yesterday said the budget would outline a reduction in net 38 00:01:59,650 --> 00:02:04,720 Sean Aylmer: overseas migration. There will also be a reforecast of economic figures. 39 00:02:05,000 --> 00:02:08,359 Sean Aylmer: Headline inflation later this year will be forecast to be 40 00:02:08,520 --> 00:02:11,760 Sean Aylmer: much lower. I'm sure Jim Chalmers will make thing of that, 41 00:02:12,160 --> 00:02:14,880 Sean Aylmer: but that's on the back of the extension of the 42 00:02:15,000 --> 00:02:19,600 Sean Aylmer: energy rebate. The more important figure, underlying inflation is actually 43 00:02:19,680 --> 00:02:23,720 Sean Aylmer: forecast or likely to be forecast, to be a touch higher. 44 00:02:24,720 --> 00:02:26,880 Michael Thompson: I want to ask you a bit more about the budget, 45 00:02:26,880 --> 00:02:29,440 Michael Thompson: but a quick mention first of Fear and Greed The 46 00:02:29,440 --> 00:02:32,240 Michael Thompson: Week Ahead which comes up after the show today and 47 00:02:32,280 --> 00:02:36,240 Michael Thompson: it features our resident economist Stephen Koukoulas as always, but 48 00:02:36,520 --> 00:02:39,760 Michael Thompson: a very important time to be talking to Stephen for 49 00:02:39,880 --> 00:02:41,920 Michael Thompson: his view of what we can expect from the budget. 50 00:02:42,400 --> 00:02:45,120 Sean Aylmer: Yeah, it's a great chat with Stephen. He has worked 51 00:02:45,120 --> 00:02:49,560 Sean Aylmer: in Treasury in his early days. He knows budgets inside out. 52 00:02:50,000 --> 00:02:51,950 Sean Aylmer: It's great to get his take on what he expects 53 00:02:51,950 --> 00:02:52,000 Sean Aylmer: tomorrow night. 54 00:02:52,000 --> 00:02:56,760 Michael Thompson: Absolutely, and then tomorrow night for Wednesday morning, we will 55 00:02:56,800 --> 00:03:01,480 Michael Thompson: have in depth budget analysis with Stephen as well. Politically, Sean, 56 00:03:02,200 --> 00:03:05,520 Michael Thompson: is having a budget a good thing for the government? 57 00:03:07,040 --> 00:03:11,240 Sean Aylmer: Probably not. I mean, remember this budget... 58 00:03:11,440 --> 00:03:13,800 Michael Thompson: So firm on that one, Sean. 59 00:03:13,960 --> 00:03:17,200 Sean Aylmer: Yeah, I mean this budget wasn't supposed to happen. We were 60 00:03:17,200 --> 00:03:19,359 Sean Aylmer: supposed to be in week three of the election campaign 61 00:03:19,400 --> 00:03:23,160 Sean Aylmer: by now, but ex-cyclone Alfred had something to say about that. 62 00:03:24,160 --> 00:03:26,919 Sean Aylmer: The thing about the budget, it means that Opposition leader 63 00:03:26,960 --> 00:03:29,720 Sean Aylmer: Peter Dutton gets a national audience with his budget reply 64 00:03:29,840 --> 00:03:33,000 Sean Aylmer: speech on Thursday night. I'm sure Anthony Albanese would have 65 00:03:33,000 --> 00:03:35,640 Sean Aylmer: been quite happy for that not to have happened. But 66 00:03:35,800 --> 00:03:38,320 Sean Aylmer: given where we are in the electoral cycle, it probably 67 00:03:38,640 --> 00:03:42,600 Sean Aylmer: won't make too much of a difference. Perhaps what Donald 68 00:03:42,640 --> 00:03:47,080 Sean Aylmer: Trump says about reciprocal tariffs for Australia over the next 69 00:03:47,120 --> 00:03:52,440 Sean Aylmer: fortnight and how Anthony Albanese responds might make a bigger difference. 70 00:03:52,520 --> 00:03:56,680 Sean Aylmer: I'm not sure, but what we've seen in places like Canada, Mexico, 71 00:03:57,640 --> 00:04:02,480 Sean Aylmer: governments who have taken on Donald Trump have actually benefited 72 00:04:02,480 --> 00:04:05,280 Sean Aylmer: in the polls. And we do know we've got reciprocal 73 00:04:05,360 --> 00:04:08,800 Sean Aylmer: tariffs coming broadly. We don't know what that means for Australia, 74 00:04:08,840 --> 00:04:11,960 Sean Aylmer: but that may even be more important to Anthony Albanese 75 00:04:12,040 --> 00:04:13,000 Sean Aylmer: than the actual budget. 76 00:04:14,160 --> 00:04:15,960 Michael Thompson: When you think we've got the budget, we've got all 77 00:04:16,000 --> 00:04:20,479 Michael Thompson: of the normal economic issues right, domestic issues. This is 78 00:04:20,520 --> 00:04:23,160 Michael Thompson: really going to be a rather unique election campaign, though, 79 00:04:23,200 --> 00:04:26,520 Michael Thompson: isn't it, because of the presence of tariff's Donald Trump 80 00:04:26,560 --> 00:04:28,679 Michael Thompson: trade war, and really it's going to be an election 81 00:04:28,800 --> 00:04:31,479 Michael Thompson: campaign where there will be a lot of responding to 82 00:04:31,520 --> 00:04:33,880 Michael Thompson: what's happening globally more so than domestically. 83 00:04:34,360 --> 00:04:37,120 Sean Aylmer: I think so. And I think that probably helps Anthony 84 00:04:37,200 --> 00:04:42,200 Sean Aylmer: Albanese more than Peter Dutton because incumbency matters, and so 85 00:04:42,320 --> 00:04:44,640 Sean Aylmer: I think when you're at war, and so this is 86 00:04:44,680 --> 00:04:48,520 Sean Aylmer: a trade war obviously, but when you're at war, incumbency 87 00:04:49,680 --> 00:04:53,880 Sean Aylmer: tends to be beneficial to a party. So it'll just 88 00:04:53,920 --> 00:04:55,560 Sean Aylmer: be interesting to see how that plays out. 89 00:04:55,800 --> 00:04:57,760 Michael Thompson: Yeah, indeed, we've got to get through the budget first though, 90 00:04:57,760 --> 00:05:01,919 Michael Thompson: haven't we. Just before we leave politics, Sean yesterday, the 91 00:05:01,920 --> 00:05:04,279 Michael Thompson: Prime Minister said that he wants to help Australians work 92 00:05:04,320 --> 00:05:07,440 Michael Thompson: from home rather than getting them into the office. 93 00:05:07,720 --> 00:05:10,039 Sean Aylmer: He said it would help people save thousands of dollars 94 00:05:10,080 --> 00:05:12,800 Sean Aylmer: on annual transport costs in major cities. He sold it 95 00:05:12,800 --> 00:05:14,600 Sean Aylmer: as a cost of living initiative idea. I would say 96 00:05:14,600 --> 00:05:18,400 Sean Aylmer: it's more about a play to distinguish himself from Peter 97 00:05:18,520 --> 00:05:21,920 Sean Aylmer: Dutton really, who has called on bureaucrats to come back 98 00:05:21,920 --> 00:05:26,280 Sean Aylmer: into the office. See. I think Anthony Albanese yesterday talked 99 00:05:26,279 --> 00:05:31,040 Sean Aylmer: about everyone, but Peter Dutton has only spoken about public servants. Really, 100 00:05:31,360 --> 00:05:32,760 Sean Aylmer: But I'm sure that's the distinction. 101 00:05:33,400 --> 00:05:36,000 Michael Thompson: Yeah, you're such a cynic Sean. I suspect you're right, though. 102 00:05:36,320 --> 00:05:38,359 Michael Thompson: Local markets, where do they finish up on Friday? 103 00:05:38,600 --> 00:05:42,560 Sean Aylmer: Well, the S&P/ASX200 closed up just to touch on Friday 104 00:05:42,600 --> 00:05:44,680 Sean Aylmer: to seven throusand nine hundred and thirty two points. For 105 00:05:44,720 --> 00:05:47,320 Sean Aylmer: the week, it rose two percent, nothing to write home about, 106 00:05:47,600 --> 00:05:49,960 Sean Aylmer: but the first time it's had a weekly rise in 107 00:05:50,000 --> 00:05:53,120 Sean Aylmer: about a month. Futures markets suggest the local bourse will 108 00:05:53,160 --> 00:05:56,720 Sean Aylmer: open down half a percent today. That's pretty much all 109 00:05:56,760 --> 00:05:59,679 Sean Aylmer: about Wall Street now. Over the weekend, there was plenty 110 00:05:59,720 --> 00:06:04,279 Sean Aylmer: of about what's happening with tariffs. Reciprocal tariffs are supposed 111 00:06:04,320 --> 00:06:07,040 Sean Aylmer: to kick in next week, hitting a bunch of countries, 112 00:06:07,400 --> 00:06:12,359 Sean Aylmer: possibly Australia, but there's really no detail about what the 113 00:06:12,400 --> 00:06:16,360 Sean Aylmer: Trump administration is going to do. In fact, on Friday, 114 00:06:16,400 --> 00:06:20,200 Sean Aylmer: the presidents that he might show the flexibility. All this 115 00:06:20,360 --> 00:06:24,280 Sean Aylmer: uncertainty is not good for markets, and it's hard to 116 00:06:24,360 --> 00:06:29,200 Sean Aylmer: see them getting too much momentum when there is so 117 00:06:29,360 --> 00:06:31,520 Sean Aylmer: much uncertainty, just. 118 00:06:31,680 --> 00:06:36,280 Michael Thompson: Staying in markets for a moment Sean. The S&P/ASX200 rebalance 119 00:06:36,560 --> 00:06:38,680 Michael Thompson: will take place today. That's when companies are put in 120 00:06:38,720 --> 00:06:42,440 Michael Thompson: and out of the ASX50, ASX200, and it can make 121 00:06:42,680 --> 00:06:45,480 Michael Thompson: a big difference, can't it, to share prices? 122 00:06:45,240 --> 00:06:49,720 Sean Aylmer: Yes, particularly because passive investors often mirror indices, so they 123 00:06:49,760 --> 00:06:51,479 Sean Aylmer: just want to hold the stocks that are in the 124 00:06:51,520 --> 00:06:54,240 Sean Aylmer: fifty or one hundred or the two hundred, and as 125 00:06:54,240 --> 00:06:57,200 Sean Aylmer: a result, companies that sort of get pushed up end 126 00:06:57,279 --> 00:06:59,359 Sean Aylmer: up getting a bit of a tailwind. So in the 127 00:06:59,360 --> 00:07:01,960 Sean Aylmer: top fifty, the two companies coming in are Pro Medicus 128 00:07:02,160 --> 00:07:04,840 Sean Aylmer: on the back of an absolutely incredible performance over the 129 00:07:04,880 --> 00:07:07,040 Sean Aylmer: past twelve months or so, I think's up about one 130 00:07:07,120 --> 00:07:09,960 Sean Aylmer: hundred and thirty percent, twenty fourth biggest company on the 131 00:07:10,000 --> 00:07:12,520 Sean Aylmer: bourse now worth twenty seven billion dollars. The other one 132 00:07:12,680 --> 00:07:14,400 Sean Aylmer: is Sigma Healthcare. Now that's on the back of the 133 00:07:14,480 --> 00:07:19,680 Sean Aylmer: Chemist Warehouse deal. It's now the seventeenth largest company, just 134 00:07:19,760 --> 00:07:22,560 Sean Aylmer: behind Woolies, bigger than Coles. So when we talk about 135 00:07:22,600 --> 00:07:26,240 Sean Aylmer: retailers from now we talk mostly about Coles, Woolies and Wesfarmers. 136 00:07:26,440 --> 00:07:29,560 Sean Aylmer: We're going to have to throw Sigma Healthcare in as well. 137 00:07:29,840 --> 00:07:32,280 Sean Aylmer: The two moving out of the top fifty Mineral Resources 138 00:07:32,320 --> 00:07:33,600 Sean Aylmer: and Ramsey Healthcare. 139 00:07:34,400 --> 00:07:37,160 Michael Thompson: And after the show, Sean and after The Week Ahead, 140 00:07:37,280 --> 00:07:39,440 Michael Thompson: we have an interview coming up today with Lachlan Halloway 141 00:07:39,520 --> 00:07:40,240 Michael Thompson: from Morningstar. 142 00:07:41,360 --> 00:07:43,800 Sean Aylmer: So we talk about buying the dip in the market 143 00:07:44,200 --> 00:07:47,520 Sean Aylmer: and is it a good idea? So Lachlan talks us 144 00:07:47,640 --> 00:07:51,600 Sean Aylmer: through that idea and it's not a yes or no answer, 145 00:07:51,720 --> 00:07:55,120 Sean Aylmer: it depends on the valuation of the market relative to 146 00:07:55,120 --> 00:07:59,080 Sean Aylmer: what they consider fair value. And we actually go through 147 00:07:59,120 --> 00:08:03,800 Sean Aylmer: the algebra the mathematics on that. It's a fantastic chat 148 00:08:04,240 --> 00:08:09,239 Sean Aylmer: if you want an insight into how professional investors value markets. 149 00:08:09,240 --> 00:08:11,520 Michael Thompson: Yeah, absolutely. And when you say that, we kind of 150 00:08:11,520 --> 00:08:14,320 Michael Thompson: go through the maths. Lachlan does this in such a 151 00:08:14,480 --> 00:08:17,680 Michael Thompson: simple and understandable way. It is great because this is 152 00:08:17,720 --> 00:08:20,720 Michael Thompson: a company that focuses on kind of talking to investors 153 00:08:20,720 --> 00:08:23,520 Michael Thompson: about whether a company is overvalued or undervalued or fair 154 00:08:23,640 --> 00:08:26,920 Michael Thompson: value and how they calculate that is really, really fascinating. 155 00:08:26,920 --> 00:08:28,880 Michael Thompson: And he gives a few stocks as well. So that's 156 00:08:28,880 --> 00:08:30,680 Michael Thompson: coming up later on. Sean will be back in a 157 00:08:30,680 --> 00:08:33,160 Michael Thompson: moment with the rest of the day's business news. 158 00:08:42,840 --> 00:08:46,320 Michael Thompson: Sean, Health Minister Mark Butler is seeking advice as to whether 159 00:08:46,440 --> 00:08:50,680 Michael Thompson: private health insurers are price gouging members after hitting top 160 00:08:50,720 --> 00:08:54,000 Michael Thompson: tier policyholders with premium increases of up to nine percent. 161 00:08:54,640 --> 00:08:57,480 Sean Aylmer: This one is very close to home because I got 162 00:08:57,520 --> 00:09:01,160 Sean Aylmer: an email only in the last week from my healthcare provider, 163 00:09:01,760 --> 00:09:06,840 Sean Aylmer: my premium family package going up nine percent. Oh, that's 164 00:09:06,880 --> 00:09:10,560 Sean Aylmer: a big jump. Major funds including BUPA, Medibank, HCF and 165 00:09:10,679 --> 00:09:13,960 Sean Aylmer: NIB have written to policyholders over the past fortnite advising 166 00:09:14,040 --> 00:09:17,920 Sean Aylmer: them of premium hikes ranging from seven percent to nine 167 00:09:17,960 --> 00:09:21,040 Sean Aylmer: point four percent on the Gold and Silver policies from 168 00:09:21,080 --> 00:09:24,120 Sean Aylmer: April one. That's well above the three point seven percent 169 00:09:24,160 --> 00:09:27,920 Sean Aylmer: industry average approved by Minister Butler last month. Now, the 170 00:09:27,960 --> 00:09:30,520 Sean Aylmer: AFR is reporting that while insurers are allowed to increase 171 00:09:30,600 --> 00:09:34,160 Sean Aylmer: annual premiums more than the average, because some policies rise 172 00:09:34,280 --> 00:09:37,000 Sean Aylmer: more than others, Butler has asked the Health Department to 173 00:09:37,040 --> 00:09:40,839 Sean Aylmer: advise him if insurers were price gouging customers following the 174 00:09:40,920 --> 00:09:45,240 Sean Aylmer: latest premium round. It is particularly relevant at the moment, 175 00:09:45,240 --> 00:09:47,880 Sean Aylmer: of course, because the ALP has put healthcare at the 176 00:09:47,920 --> 00:09:49,959 Sean Aylmer: center of its election campaign. 177 00:09:51,120 --> 00:09:53,880 Michael Thompson: Indeed. Now, Sean, another one probably that is close to 178 00:09:53,920 --> 00:09:59,080 Michael Thompson: home for you. Australians are taking overseas trips in record numbers, 179 00:09:59,120 --> 00:10:02,800 Michael Thompson: with short offshore travel hitting a new record. 180 00:10:03,240 --> 00:10:07,400 Sean Aylmer: One point six million short term trips were recorded in January, 181 00:10:07,440 --> 00:10:10,760 Sean Aylmer: about eleven percent more than a year earlier. Also, about 182 00:10:10,760 --> 00:10:14,640 Sean Aylmer: eleven percent higher than pre COVID levels. New Zealand most 183 00:10:14,720 --> 00:10:19,360 Sean Aylmer: popular country about thirteen percent of travel. Next Indonesia, and 184 00:10:19,400 --> 00:10:23,240 Sean Aylmer: then Michael pop quiz. So, Indonesia's Bali. New Zealand's always 185 00:10:23,280 --> 00:10:26,960 Sean Aylmer: been popular. Think of where everyone seemed to go in 186 00:10:27,000 --> 00:10:28,000 Sean Aylmer: the heat of our summer, 187 00:10:28,880 --> 00:10:31,800 Michael Thompson: Oh, Japan. Yeah, because the exchange rate was so good. 188 00:10:32,440 --> 00:10:36,320 Sean Aylmer: Exactly right, and everyone seemed to go skiing. There you go. 189 00:10:37,280 --> 00:10:39,240 Michael Thompson: Well, so I'm sorry, I was just waiting because I 190 00:10:39,280 --> 00:10:41,079 Michael Thompson: know that you are toying with the idea of a 191 00:10:41,160 --> 00:10:44,720 Michael Thompson: Japan trip in January of next year, and as actually 192 00:10:44,800 --> 00:10:47,360 Michael Thompson: so I really can't kind of criticize you for being 193 00:10:47,400 --> 00:10:49,480 Michael Thompson: too motivated by self interest here. 194 00:10:49,480 --> 00:10:55,359 Sean Aylmer: One cohort that still hasn't fully recovered from COVID, notwithstanding 195 00:10:55,400 --> 00:10:59,000 Sean Aylmer: the headlines, is international students. In January eighty one thousand 196 00:10:59,040 --> 00:11:01,640 Sean Aylmer: international students arrived. That's about two and a half percent 197 00:11:01,679 --> 00:11:03,800 Sean Aylmer: lower than a year earlier, but it's still ten percent 198 00:11:03,840 --> 00:11:07,640 Sean Aylmer: lower than January twenty nineteen, which is the best comparable figure. 199 00:11:08,080 --> 00:11:11,440 Sean Aylmer: So we talk a lot about too many overseas students, 200 00:11:11,480 --> 00:11:14,839 Sean Aylmer: and people argue there's too many overseas students. In actual fact, 201 00:11:15,400 --> 00:11:18,800 Sean Aylmer: there's actually fewer now than pre covid. 202 00:11:18,960 --> 00:11:23,520 Michael Thompson: Sean, Woollie's and Cole's share price surged on Friday after 203 00:11:23,640 --> 00:11:26,920 Michael Thompson: an ACCC report found that the two supermarket giants are 204 00:11:26,920 --> 00:11:29,640 Michael Thompson: among the most profitable in the world, but there is 205 00:11:29,679 --> 00:11:33,079 Michael Thompson: no clear evidence that they price gouge and their dominance 206 00:11:33,160 --> 00:11:34,360 Michael Thompson: is unlikely to end. 207 00:11:34,640 --> 00:11:38,199 Sean Aylmer: So, this was a report from the competition watchdog which 208 00:11:38,280 --> 00:11:41,880 Sean Aylmer: gave something to everyone. They say that Woolies and Coles's 209 00:11:41,920 --> 00:11:44,760 Sean Aylmer: margins have risen since the pandemic, and while the cost 210 00:11:44,760 --> 00:11:49,600 Sean Aylmer: of groceries has increased significantly relative to the increase in wages, 211 00:11:49,880 --> 00:11:53,320 Sean Aylmer: it's actually been lower here than in many comparable countries. 212 00:11:54,320 --> 00:11:57,520 Sean Aylmer: The ACCC took a year to look into these supermarkets. 213 00:11:57,720 --> 00:12:00,760 Sean Aylmer: The watchdog now recommends the government force the supermarket giants 214 00:12:00,760 --> 00:12:04,600 Sean Aylmer: to publish their prices online, provide supplies with detailed information 215 00:12:04,640 --> 00:12:08,120 Sean Aylmer: about price and sales forecasts, modify zoning and planning laws 216 00:12:08,120 --> 00:12:11,600 Sean Aylmer: so smaller rivals can expand more quickly. And the report 217 00:12:11,840 --> 00:12:15,040 Sean Aylmer: was critical of the promotional practices at Woollies and Coles, 218 00:12:15,120 --> 00:12:19,560 Sean Aylmer: which its investigation found had made it more difficult for 219 00:12:19,600 --> 00:12:23,720 Sean Aylmer: consumers to assess pricing, discounts and value for money, but 220 00:12:24,200 --> 00:12:26,720 Sean Aylmer: at the end of the day it came out and 221 00:12:26,760 --> 00:12:29,560 Sean Aylmer: on the really big issue of price gouging, and this 222 00:12:29,720 --> 00:12:32,520 Sean Aylmer: was the idea. Remember that something might have been selling 223 00:12:32,520 --> 00:12:34,840 Sean Aylmer: for six dollars and then went to twelve dollars and 224 00:12:34,880 --> 00:12:37,200 Sean Aylmer: then went back to ten dollars and Wollies said, we've 225 00:12:37,200 --> 00:12:40,800 Sean Aylmer: discounted it from twelve by two dollars, even though the 226 00:12:40,840 --> 00:12:44,280 Sean Aylmer: prices had jumped. They didn't actually find evidence of that, 227 00:12:44,559 --> 00:12:46,679 Sean Aylmer: so it really is a win for the supermarkets. 228 00:12:47,040 --> 00:12:49,560 Michael Thompson: Yeah, it does sound like that. One last quick one 229 00:12:49,600 --> 00:12:52,440 Michael Thompson: before we get to international news. Another soft weekend for 230 00:12:52,480 --> 00:12:53,760 Michael Thompson: auctions across the country. 231 00:12:54,240 --> 00:12:56,520 Sean Aylmer: Yes, the early clearance rate came in at sixty eight 232 00:12:56,520 --> 00:12:59,040 Sean Aylmer: point seven percent. It's been trending down now for three 233 00:12:59,120 --> 00:13:02,360 Sean Aylmer: or four weeks. And the other interesting fact I thought 234 00:13:02,400 --> 00:13:05,080 Sean Aylmer: over the weekend, Melbourne is now outperforming Sydney. So we've 235 00:13:05,080 --> 00:13:07,000 Sean Aylmer: seen that in terms of clear and straits. We're also 236 00:13:07,000 --> 00:13:08,560 Sean Aylmer: seeing in terms of prices. 237 00:13:09,040 --> 00:13:12,280 Michael Thompson: All right, turning out to international news, International car makers 238 00:13:12,480 --> 00:13:15,560 Michael Thompson: are rushing to ship vehicles and core components to the 239 00:13:15,679 --> 00:13:17,560 Michael Thompson: US to get ahead of the next round of President 240 00:13:17,600 --> 00:13:21,480 Michael Thompson: Donald Trump's tariffs, which threatened to wreak havoc on automotive 241 00:13:21,520 --> 00:13:22,280 Michael Thompson: supply chains. 242 00:13:22,360 --> 00:13:26,080 Sean Aylmer: It's incredible how quickly business has responded to these threats. 243 00:13:26,120 --> 00:13:28,439 Sean Aylmer: In February, there was a twenty two percent year on 244 00:13:28,600 --> 00:13:32,120 Sean Aylmer: year rise in vehicle shipments from the EU to the US, 245 00:13:32,800 --> 00:13:38,080 Sean Aylmer: fourteen percent from Japan. In response to requests from auto manufacturers, 246 00:13:38,200 --> 00:13:41,559 Sean Aylmer: car carrying vessels have been dispatched to Asia and Europe 247 00:13:41,720 --> 00:13:45,960 Sean Aylmer: plans to carry thousands more vehicles, according to the Financial Times. 248 00:13:46,200 --> 00:13:49,360 Sean Aylmer: Donald Trump said that reciprocal tariffs on US trading partners 249 00:13:49,360 --> 00:13:51,480 Sean Aylmer: will come to effect on April two. They need to 250 00:13:51,520 --> 00:13:57,160 Sean Aylmer: get the cars into play by then. Now. South Korean 251 00:13:57,200 --> 00:14:01,160 Sean Aylmer: carmakers Hyundai and Kia are among those ship more vehicles 252 00:14:01,200 --> 00:14:04,360 Sean Aylmer: before that deadline. An official of the German car makers 253 00:14:04,760 --> 00:14:07,319 Sean Aylmer: shipping more vehicles from Europe to the US to address 254 00:14:07,440 --> 00:14:10,400 Sean Aylmer: the tariff threat. It's quite remarkable how much what Donald 255 00:14:10,400 --> 00:14:14,000 Sean Aylmer: Trump has said has shifted large companies. But it's also 256 00:14:14,040 --> 00:14:17,280 Sean Aylmer: remarkable how quickly they can move to get stuff done. 257 00:14:18,000 --> 00:14:23,440 Michael Thompson: Yeah. Absolutely. This next one is absolutely incredible. I find 258 00:14:23,440 --> 00:14:26,600 Michael Thompson: this staggering show. And a consortium led by private equity 259 00:14:26,640 --> 00:14:30,040 Michael Thompson: investors has agreed to take a majority stake in the 260 00:14:30,040 --> 00:14:36,840 Michael Thompson: Boston Celtics basketball franchise at a valuation of US six 261 00:14:37,080 --> 00:14:42,400 Michael Thompson: point one billion dollars, making it the most expensive US 262 00:14:42,440 --> 00:14:44,760 Michael Thompson: sporting team ever sold. 263 00:14:44,680 --> 00:14:47,480 Sean Aylmer: So it's about just shy of ten billion Aussie. The 264 00:14:47,560 --> 00:14:51,200 Sean Aylmer: deal tops the six point o five billion valuation paid 265 00:14:51,200 --> 00:14:54,320 Sean Aylmer: in twenty twenty three for the Washington Commander's franchise in 266 00:14:54,360 --> 00:14:58,640 Sean Aylmer: the National Football League, according to the FT. Now, the Celtics 267 00:14:58,680 --> 00:15:00,760 Sean Aylmer: are one of the best known brands in sport. The 268 00:15:00,800 --> 00:15:05,200 Sean Aylmer: team's won a record breaking eighteen NBA championships. It's ahead 269 00:15:05,200 --> 00:15:08,360 Sean Aylmer: of its longtime rival, the Los Angeles Lakers. William Chisholm, 270 00:15:08,840 --> 00:15:12,040 Sean Aylmer: who's the co founder of private equity firm STG and 271 00:15:12,080 --> 00:15:15,320 Sean Aylmer: buyer of the team, has described himself as a diehard 272 00:15:15,600 --> 00:15:21,280 Sean Aylmer: Celtics fan. Six billion dollars definitely diehard. Sixth Street private 273 00:15:21,320 --> 00:15:24,680 Sean Aylmer: equity firm led by former Goldman Sachs partner Alan Waxman, 274 00:15:25,080 --> 00:15:28,400 Sean Aylmer: is among the members of the Chisholm consortium. Sixth Street 275 00:15:28,480 --> 00:15:32,920 Sean Aylmer: is already an investor in rival NBA franchise San Antonio Spurs, 276 00:15:33,280 --> 00:15:35,640 Sean Aylmer: last week agreed to buy into the San Francisco Giants 277 00:15:35,640 --> 00:15:39,440 Sean Aylmer: baseball team. It's also invested in Spanish football SC Barcelona. 278 00:15:39,480 --> 00:15:42,800 Sean Aylmer: This is broadcast rights and has a partnership with rivals 279 00:15:42,880 --> 00:15:46,320 Sean Aylmer: Real Madrid. Clearly a big time investor in sport. 280 00:15:46,960 --> 00:15:51,939 Michael Thompson: Yeah, they've clearly spotted on an opportunity there or something maybe. Now, Sean, 281 00:15:51,939 --> 00:15:54,080 Michael Thompson: up next is Fear and Greed, The Week Ahead featuring 282 00:15:54,120 --> 00:15:57,040 Michael Thompson: Stephen Koukoulas. Massive week with the budget of course, and 283 00:15:57,080 --> 00:16:00,520 Michael Thompson: then following that the Daily Interview today with Lachlan Halloway 284 00:16:00,560 --> 00:16:03,080 Michael Thompson: from Morningstar. Plenty of good listening coming up in the 285 00:16:03,080 --> 00:16:05,520 Michael Thompson: Fear and Greed playlist on your podcast platform or at 286 00:16:05,600 --> 00:16:09,200 Michael Thompson: Fearangreed.com.au And don't forget to sign up for the free 287 00:16:09,480 --> 00:16:11,880 Michael Thompson: Fear and Greed newsletter at our website too. Thank you 288 00:16:12,000 --> 00:16:12,560 Michael Thompson: very much, Sean. 289 00:16:12,760 --> 00:16:13,440 Sean Aylmer: Thank you, Michael. 290 00:16:13,760 --> 00:16:16,600 Michael Thompson: It's Monday, the twenty fourth of March twenty twenty five. 291 00:16:16,880 --> 00:16:19,200 Michael Thompson: Make sure you're following the podcast and please join us 292 00:16:19,200 --> 00:16:22,840 Michael Thompson: online on LinkedIn, Instagram, x, TikTok and Facebook. I'm Michael 293 00:16:22,840 --> 00:16:28,520 Michael Thompson: Thompson and that was Fear and Greed. Have a great day.