1
00:00:06,280 --> 00:00:09,360
Speaker 1: Today on Fear and Greed. Donald Trump signs a sway

2
00:00:09,600 --> 00:00:13,440
Speaker 1: of executive orders reversing US policy on energy, the environment,

3
00:00:13,680 --> 00:00:17,640
Speaker 1: tax and electric vehicles, while suggesting twenty five percent tariffs

4
00:00:17,640 --> 00:00:22,040
Speaker 1: for close trading partners. Business failures surge fifty percent, and

5
00:00:22,200 --> 00:00:24,960
Speaker 1: weight loss drugs helping thousands of people are shown to

6
00:00:25,079 --> 00:00:29,120
Speaker 1: worse than nineteen medical conditions. Plus market reaction to Donald

7
00:00:29,160 --> 00:00:33,320
Speaker 1: Trump's win, and Prime Minister Anthony Alberanzi calls a national

8
00:00:33,360 --> 00:00:36,959
Speaker 1: cabinet meeting after another anti Semitic attack. Welcome to Fear

9
00:00:37,000 --> 00:00:39,040
Speaker 1: and Greed. Daily business news for people who make their

10
00:00:39,040 --> 00:00:42,519
Speaker 1: own decisions. It is Wednesday, the twenty second of January

11
00:00:42,520 --> 00:00:45,640
Speaker 1: twenty twenty five. I'm Michael Thompson and good morning, Sean Aylmer.

12
00:00:45,800 --> 00:00:47,360
Speaker 2: Good morning, Michael Shawn.

13
00:00:47,400 --> 00:00:50,840
Speaker 1: The main story this morning. Donald Trump wasted no time

14
00:00:51,120 --> 00:00:56,320
Speaker 1: whatsoever following his inauguration yesterday morning, Australian time, signing a

15
00:00:56,400 --> 00:01:01,040
Speaker 1: whole bunch of executive orders undoing many of Joe Biden's decisions,

16
00:01:01,080 --> 00:01:04,280
Speaker 1: requiring workers in government returned to the office full time

17
00:01:04,680 --> 00:01:07,520
Speaker 1: and withdrawing from the Paris Climate Treaty.

18
00:01:07,880 --> 00:01:10,800
Speaker 2: There was a stack of them. There were executive orders

19
00:01:10,800 --> 00:01:14,320
Speaker 2: on a legal immigration, a freeze on new regulations, a

20
00:01:14,400 --> 00:01:18,520
Speaker 2: freezer new hiring in the bureaucracy. That's a federal bureaucracy Washington.

21
00:01:18,560 --> 00:01:22,280
Speaker 2: There he said that the government must address the cost

22
00:01:22,360 --> 00:01:24,720
Speaker 2: of living crisis, and there was an executive order on

23
00:01:24,800 --> 00:01:28,080
Speaker 2: that one as well. He had one on mandating free speech.

24
00:01:28,319 --> 00:01:30,679
Speaker 2: He was scinded a bunch of things that Joe Biden

25
00:01:30,720 --> 00:01:33,840
Speaker 2: had done, including that half of all new vehicles sold

26
00:01:33,840 --> 00:01:37,119
Speaker 2: by twenty thirty had to be electric vehicles. What el

27
00:01:37,120 --> 00:01:38,000
Speaker 2: On thought about that one?

28
00:01:38,200 --> 00:01:40,080
Speaker 1: I can't imagine that would go do you reckon he

29
00:01:40,160 --> 00:01:44,240
Speaker 1: knew in advance. Surely it would imagine that Elon Musk

30
00:01:44,240 --> 00:01:45,920
Speaker 1: would know pretty much everything that goes on.

31
00:01:46,440 --> 00:01:48,400
Speaker 2: You'd think so. And the chare prece of Tesla took

32
00:01:48,400 --> 00:01:51,360
Speaker 2: off when Joe Biden did that. I remember that twenty

33
00:01:51,400 --> 00:01:54,320
Speaker 2: twenty three, I think it was. There was executive orders

34
00:01:54,320 --> 00:01:57,080
Speaker 2: around oil drilling in the Arctic that'll be allowed again.

35
00:01:57,360 --> 00:01:59,320
Speaker 2: Cuba has been put back on the list of state

36
00:01:59,440 --> 00:02:03,320
Speaker 2: sponsors of terrorism. Sanctions have been lifted on some far

37
00:02:03,480 --> 00:02:06,360
Speaker 2: right Israeli settler groove. Now, Donald Trump said he planned

38
00:02:06,400 --> 00:02:10,200
Speaker 2: to sign executive orders on tariffs twenty five percent on

39
00:02:10,240 --> 00:02:14,320
Speaker 2: Mexico and Canada from one February. We haven't seen the PaperWorks.

40
00:02:14,440 --> 00:02:16,040
Speaker 2: Until you see the paper with Donald Trump, you never

41
00:02:16,080 --> 00:02:18,000
Speaker 2: know where it's going to happen. It was a little

42
00:02:18,120 --> 00:02:21,720
Speaker 2: vague on China and others. He dumped a global deal

43
00:02:21,800 --> 00:02:24,240
Speaker 2: on ensuring a minimum corporate tax rate. The rest of

44
00:02:24,240 --> 00:02:27,000
Speaker 2: the world says that it will ensure there's a fifteen

45
00:02:27,000 --> 00:02:30,119
Speaker 2: percent minimum corporate tax rate. Donald Trump's dumped that line.

46
00:02:30,160 --> 00:02:34,440
Speaker 2: He's pulled out of the World Health Organization, reduced regulations

47
00:02:34,480 --> 00:02:37,480
Speaker 2: on the development of artificial intelligence. Gave TikTok seventy five

48
00:02:37,560 --> 00:02:39,760
Speaker 2: days to find a buyer in the US, or at

49
00:02:39,840 --> 00:02:42,919
Speaker 2: least to buy for half the social media app. He

50
00:02:43,240 --> 00:02:47,760
Speaker 2: was very critical of Joe Biden. He basically said that

51
00:02:47,800 --> 00:02:50,320
Speaker 2: most of the bureaucrats of Joe Biden had appointed will

52
00:02:50,320 --> 00:02:53,240
Speaker 2: be fired. He also pardoned a bunch of protesters the

53
00:02:53,280 --> 00:02:56,120
Speaker 2: storm in the US Congress on sixth January twenty twenty one.

54
00:02:56,560 --> 00:02:59,080
Speaker 2: One guy who's in jail for twenty two years, sentence

55
00:02:59,120 --> 00:03:01,440
Speaker 2: of twenty two years. He's a violent criminal. He got

56
00:03:01,480 --> 00:03:02,160
Speaker 2: pardoned as well.

57
00:03:02,760 --> 00:03:05,400
Speaker 1: Sewan It's quite an extraordinary day, really, and look, you

58
00:03:05,440 --> 00:03:07,919
Speaker 1: have covered business. You've been a business journalist for a

59
00:03:07,960 --> 00:03:10,240
Speaker 1: long time, you've covered politics, You've worked in the US

60
00:03:10,280 --> 00:03:12,520
Speaker 1: as a US correspondent as well. Can you remember a

61
00:03:12,639 --> 00:03:16,320
Speaker 1: day when so much happened in just twenty four hours?

62
00:03:16,400 --> 00:03:18,760
Speaker 2: Now? Absolutely not that. The criticism of Trump and the

63
00:03:18,760 --> 00:03:20,880
Speaker 2: Earl in twenty sixteen was he didn't do enough, and

64
00:03:20,919 --> 00:03:22,600
Speaker 2: then when he finally worked out how to do it,

65
00:03:22,680 --> 00:03:25,560
Speaker 2: he started doing stuff. Well, he did so much in

66
00:03:25,600 --> 00:03:27,280
Speaker 2: the first twenty four hours, and I think that's in

67
00:03:27,320 --> 00:03:31,680
Speaker 2: response to twenty sixteen. Taking a while, what you might

68
00:03:31,720 --> 00:03:33,960
Speaker 2: see is that he's doing a bunch of stuff in

69
00:03:34,000 --> 00:03:37,360
Speaker 2: this first week and then he'll let it settle. I mean,

70
00:03:37,360 --> 00:03:39,560
Speaker 2: if he keeps at this pace, who knows where the

71
00:03:39,560 --> 00:03:40,240
Speaker 2: world add is up.

72
00:03:40,360 --> 00:03:43,040
Speaker 1: Yeah, I thought it was interesting yesterday. There was There

73
00:03:43,080 --> 00:03:46,760
Speaker 1: was plenty of ceremony with the inauguration, though not a

74
00:03:46,840 --> 00:03:47,960
Speaker 1: huge amount of convention.

75
00:03:48,680 --> 00:03:53,000
Speaker 2: No. No, he wasn't very nice about Joe Biden, very

76
00:03:53,000 --> 00:03:54,000
Speaker 2: critical in fact.

77
00:03:54,280 --> 00:03:56,840
Speaker 1: Which that does go against what normally happens, isn't it.

78
00:03:57,080 --> 00:03:58,960
Speaker 1: Usually there's a certain amount of grace.

79
00:03:59,120 --> 00:04:02,600
Speaker 2: Yeah, absolutely, no grace yesterday whatsoever. Elon Musk was a

80
00:04:02,600 --> 00:04:05,560
Speaker 2: big part of the day. He gave us somewhat did

81
00:04:05,560 --> 00:04:09,320
Speaker 2: you say, the salute he gave came straight out palm down.

82
00:04:10,600 --> 00:04:12,640
Speaker 1: A not a good look, and it's certainly one that

83
00:04:12,680 --> 00:04:15,880
Speaker 1: everyone is familiar with in this this rise of kind

84
00:04:15,880 --> 00:04:17,839
Speaker 1: of far right ideology all over the place.

85
00:04:18,000 --> 00:04:20,560
Speaker 2: Not a good look, dreadful. Bloomberg had a great stat

86
00:04:20,760 --> 00:04:23,440
Speaker 2: they said there was one point three trillion U s

87
00:04:23,440 --> 00:04:26,760
Speaker 2: sols worth of billionaires at the inauguration. So we're talking

88
00:04:26,760 --> 00:04:30,120
Speaker 2: about Elon mask, about Amazon's Jeff Bezos, met As Mark Zuckerberg,

89
00:04:30,880 --> 00:04:33,799
Speaker 2: LVMH's Bernard I know he's about the third or fourth

90
00:04:33,920 --> 00:04:37,960
Speaker 2: richest person in the world. French guy, Google co founder

91
00:04:38,160 --> 00:04:42,200
Speaker 2: Sergey Brin, Alphabet c As Swinder, Peach a, Apple CEO,

92
00:04:42,279 --> 00:04:45,320
Speaker 2: Tim Cook, Rupert Murdock was there. The other thing I

93
00:04:45,320 --> 00:04:49,080
Speaker 2: thought was interesting, already US government websites have started pulling

94
00:04:49,120 --> 00:04:53,480
Speaker 2: down the promotion of issues such as climate change, reproductive rides,

95
00:04:53,800 --> 00:04:57,000
Speaker 2: diversity in employment. That actually started coming off already. That

96
00:04:57,080 --> 00:04:57,479
Speaker 2: was quick.

97
00:04:57,920 --> 00:04:59,839
Speaker 1: What was the reaction from markets yesterday?

98
00:05:00,839 --> 00:05:04,080
Speaker 2: Business leaders are front and center yesterday. So Trump should

99
00:05:04,120 --> 00:05:06,320
Speaker 2: be a president for financial markets, He should be a

100
00:05:06,360 --> 00:05:10,839
Speaker 2: president for business now. Initially Wall Street rose in after

101
00:05:10,880 --> 00:05:14,520
Speaker 2: hours training the US dollar fell. That's kind of good News. However,

102
00:05:14,680 --> 00:05:17,159
Speaker 2: when he started talking about twenty five percent tariffs and

103
00:05:17,240 --> 00:05:20,800
Speaker 2: Mexico twenty five percent tariffs on Canada, he kind of

104
00:05:20,839 --> 00:05:23,680
Speaker 2: alluded to China without saying what he was going to do.

105
00:05:24,080 --> 00:05:28,560
Speaker 2: Markets then fell, the US dollar strengthen. The thing is,

106
00:05:28,560 --> 00:05:31,120
Speaker 2: when you have that sort of uncertainty, people want US dollars.

107
00:05:31,160 --> 00:05:35,600
Speaker 2: It's a strong currency. So other currencies like the Mexican peso,

108
00:05:35,720 --> 00:05:38,839
Speaker 2: the Canadian dollar, the Aussie dollar, they all fell pretty sharply.

109
00:05:39,200 --> 00:05:42,200
Speaker 2: In Australia, safe stocks did best. Will come to that

110
00:05:42,279 --> 00:05:45,760
Speaker 2: later on, but banks particularly did well. One thing that

111
00:05:45,800 --> 00:05:48,359
Speaker 2: Prime Minister Anthony Alberneze he said yesterday, which was interesting.

112
00:05:48,400 --> 00:05:52,440
Speaker 2: He said, dumping the climate Paris Climate Agreement might actually

113
00:05:52,520 --> 00:05:55,400
Speaker 2: mean opportunities for Australia. It'll be interesting because under the

114
00:05:55,440 --> 00:05:59,280
Speaker 2: Inflation Reduction Act in the US there's a lot of

115
00:05:59,320 --> 00:06:01,160
Speaker 2: bunch of Australian company is getting a lot of money

116
00:06:01,160 --> 00:06:03,520
Speaker 2: out of that. That'll be watered down, but maybe they'll

117
00:06:03,560 --> 00:06:05,880
Speaker 2: come home and start doing stuff here, So that'll be interesting.

118
00:06:06,400 --> 00:06:08,280
Speaker 1: All right, Sean, We have a lot to get through.

119
00:06:08,320 --> 00:06:10,400
Speaker 1: As we said, that was a massive, massive twenty four

120
00:06:10,400 --> 00:06:13,680
Speaker 1: hours and that is really just the inauguration and the

121
00:06:13,960 --> 00:06:16,080
Speaker 1: reaction to it. So still more to come. We're talking

122
00:06:16,160 --> 00:06:19,760
Speaker 1: local business failures, we're talking the enclosure of an Australian

123
00:06:19,760 --> 00:06:22,360
Speaker 1: e commerce company. So much more still to cover. We'll

124
00:06:22,360 --> 00:06:23,480
Speaker 1: be back in a moment with the rest of the

125
00:06:23,560 --> 00:06:33,919
Speaker 1: day's business news. Sean Prime Minister Anthony Albanezi called a

126
00:06:34,000 --> 00:06:37,800
Speaker 1: national cabinet meeting yesterday in response to the dangerous escalation

127
00:06:38,080 --> 00:06:41,440
Speaker 1: of anti Semitism after a childcare center was gutted in

128
00:06:41,520 --> 00:06:43,279
Speaker 1: an arson attack yesterday morning.

129
00:06:43,400 --> 00:06:46,680
Speaker 2: The fire at the center in Marouba in Sydney's East

130
00:06:46,720 --> 00:06:50,719
Speaker 2: occurred just before one am yesterday morning. If the Jews

131
00:06:50,800 --> 00:06:53,360
Speaker 2: was sprayed in black paint on the wall, now there's

132
00:06:53,360 --> 00:06:56,400
Speaker 2: a synagogue about one hundred meters away. As a result,

133
00:06:56,520 --> 00:07:00,679
Speaker 2: Anthony Albanzi was almost forced to call a national cabinet meeting.

134
00:07:01,080 --> 00:07:04,560
Speaker 2: They met yesterday, that's the state premiers and Anthony Albernizi.

135
00:07:04,800 --> 00:07:07,960
Speaker 2: They all agree that something needs to be done on

136
00:07:08,480 --> 00:07:11,840
Speaker 2: this incredible outbreak of anti Semitism, which is just horrendous

137
00:07:11,840 --> 00:07:14,679
Speaker 2: at the moment. Though we don't really have any definite

138
00:07:14,680 --> 00:07:17,600
Speaker 2: plans about quite what they're going to do as yet. Well,

139
00:07:17,600 --> 00:07:19,280
Speaker 2: I'm sure we'll hear about that in coming days.

140
00:07:19,320 --> 00:07:22,240
Speaker 1: It's interesting, isn't it to see national cabinet kind of being.

141
00:07:22,080 --> 00:07:24,240
Speaker 2: Revived for the COVID thing, isn't it. Yeah?

142
00:07:24,280 --> 00:07:26,960
Speaker 1: Indeed, and we haven't kind of really hasn't been much

143
00:07:26,960 --> 00:07:29,080
Speaker 1: of a feature now for the last kind of eighteen months,

144
00:07:29,160 --> 00:07:29,920
Speaker 1: two years or so.

145
00:07:30,080 --> 00:07:32,240
Speaker 2: Yeah, there's still been holding national cabinets, but they just

146
00:07:32,280 --> 00:07:35,960
Speaker 2: haven't been particularly high profile, not like COVID days. Yeah. Indeed.

147
00:07:36,440 --> 00:07:40,520
Speaker 1: Now, while we're talking about politics, Shawn, both the Coalition

148
00:07:40,600 --> 00:07:44,120
Speaker 1: and Labor upping their social media activity ahead of the

149
00:07:44,160 --> 00:07:46,320
Speaker 1: next election, which is interesting because at the same time

150
00:07:46,320 --> 00:07:50,440
Speaker 1: they're implementing a ban on under sixteens accessing online platforms,

151
00:07:50,440 --> 00:07:53,000
Speaker 1: so clearly they still do see value for other parts

152
00:07:53,240 --> 00:07:54,160
Speaker 1: of the population.

153
00:07:54,520 --> 00:07:58,440
Speaker 2: So both sides are calling on politicians for high quality

154
00:07:58,480 --> 00:08:02,800
Speaker 2: original content. Idea is that they're going to engage younger Australians.

155
00:08:02,840 --> 00:08:07,040
Speaker 2: Obviously Donald Trump is the role model for that. According

156
00:08:07,160 --> 00:08:10,160
Speaker 2: to a story in The Financial Review, Peter Dutton has

157
00:08:10,240 --> 00:08:14,600
Speaker 2: been pushing the Coalition candidates to use TikTok. Labor is

158
00:08:14,640 --> 00:08:18,360
Speaker 2: more likely to favor Facebook. Now Facebook, Google, Google search,

159
00:08:18,400 --> 00:08:21,640
Speaker 2: Google AdWords and YouTube will be used by both sides.

160
00:08:21,680 --> 00:08:24,200
Speaker 2: Of course, it's just that the Coalition is pushing into TikTok.

161
00:08:24,240 --> 00:08:28,520
Speaker 2: A bit harder thing about TikTok. It's a bit like LinkedIn.

162
00:08:29,160 --> 00:08:32,959
Speaker 2: You can't really control where the content goes. You need

163
00:08:33,000 --> 00:08:37,840
Speaker 2: to reach audiences organically, so you need really effective visuals

164
00:08:38,120 --> 00:08:40,720
Speaker 2: and words to get out there so that they're shared.

165
00:08:40,960 --> 00:08:47,200
Speaker 2: Facebook's really different. Politicians can target specific postcodes, specific demographics.

166
00:08:47,600 --> 00:08:50,200
Speaker 2: Just makes it easier to get content in front of

167
00:08:50,320 --> 00:08:51,160
Speaker 2: swing voters.

168
00:08:51,760 --> 00:08:55,120
Speaker 1: Now I mentioned this one earlier. Sean business failures have

169
00:08:55,400 --> 00:08:59,679
Speaker 1: surged by fifty percent this financial year as higher operating expenses,

170
00:09:00,000 --> 00:09:02,760
Speaker 1: along with cost of living pressures and a crackdown on

171
00:09:02,960 --> 00:09:06,480
Speaker 1: unpaid tax debt all kind of combined to force more

172
00:09:06,480 --> 00:09:07,760
Speaker 1: companies to close.

173
00:09:07,480 --> 00:09:09,080
Speaker 2: And a bit of it has oud so last Financially,

174
00:09:09,080 --> 00:09:13,720
Speaker 2: either are about eleven thousand business failures expect about sixteen

175
00:09:13,800 --> 00:09:16,760
Speaker 2: thousand this year. According to a report in The Australian,

176
00:09:17,120 --> 00:09:20,800
Speaker 2: the watchdog, the Australian Securities and Investments Commission, shows that

177
00:09:20,880 --> 00:09:23,280
Speaker 2: the figures from them shows that seven four hundred and

178
00:09:23,320 --> 00:09:26,960
Speaker 2: eighty three insolvency appointments occurred in the six months to

179
00:09:27,000 --> 00:09:31,080
Speaker 2: the end of December. That's a record breaking amount. Now

180
00:09:31,559 --> 00:09:34,760
Speaker 2: that beat this year at sixteen thousand, that would beat

181
00:09:34,800 --> 00:09:37,680
Speaker 2: the previous record of twenty twelve. There are three point

182
00:09:37,720 --> 00:09:40,720
Speaker 2: four to seven million registered businesses at the end of

183
00:09:40,720 --> 00:09:43,840
Speaker 2: twenty twenty four. Three point four to seven million, Like,

184
00:09:43,880 --> 00:09:47,880
Speaker 2: that's one every ten people, one avery nine or ten people.

185
00:09:47,920 --> 00:09:50,480
Speaker 2: That is a lot. How many businesses do you have, actually,

186
00:09:50,520 --> 00:09:53,280
Speaker 2: how many ABIEN businesses that are ABN number do you have?

187
00:09:54,800 --> 00:10:00,959
Speaker 1: Our household has two two, yeah, which I mean then

188
00:10:01,000 --> 00:10:04,200
Speaker 1: that's probably about and you would be what four?

189
00:10:04,400 --> 00:10:07,160
Speaker 2: Yeah, yeah, I mean maybe it's not that many.

190
00:10:07,240 --> 00:10:09,240
Speaker 1: No, but I mean we've talked as well on the

191
00:10:09,240 --> 00:10:12,600
Speaker 1: weekend edition of Fear and Greed about the sharp rise

192
00:10:12,760 --> 00:10:16,520
Speaker 1: in the number of Australian businesses in the last ten

193
00:10:16,640 --> 00:10:19,240
Speaker 1: years or so, that it really did shoot up kind

194
00:10:19,280 --> 00:10:22,400
Speaker 1: of towards the end of the twenty teens. Is that

195
00:10:22,440 --> 00:10:24,800
Speaker 1: what you say, I don't know. COVID basically, yeah, pre

196
00:10:24,880 --> 00:10:29,640
Speaker 1: covid just slightly pre covid anyway, big numbers, big numbers,

197
00:10:29,679 --> 00:10:33,640
Speaker 1: big numbers. Now Optus, Sean, I know you're a sports

198
00:10:33,640 --> 00:10:39,800
Speaker 1: streaming fan. Optus is considering offloading its popular sports streaming

199
00:10:39,840 --> 00:10:43,600
Speaker 1: platform to nine Entertainment, in a move that would hand

200
00:10:43,640 --> 00:10:46,320
Speaker 1: the rights of the EPL the English Premier League to

201
00:10:46,440 --> 00:10:50,680
Speaker 1: stand ahead of the arrival of a British rival, which

202
00:10:50,679 --> 00:10:54,880
Speaker 1: has written da z N Sean And you have been

203
00:10:55,000 --> 00:10:56,920
Speaker 1: reminding me constantly I.

204
00:10:56,880 --> 00:11:01,199
Speaker 2: Cannot It's like design designe to his own Yeah, okay,

205
00:11:01,240 --> 00:11:02,840
Speaker 2: I think so, but I'm probably going to get that wrong.

206
00:11:02,960 --> 00:11:05,640
Speaker 2: Now you put me on the spot. I can't remember, and.

207
00:11:05,640 --> 00:11:07,840
Speaker 1: You're just looking at me just then, going yeah, I

208
00:11:07,920 --> 00:11:10,200
Speaker 1: know you're going to flop it. You're going to flop it.

209
00:11:10,240 --> 00:11:12,079
Speaker 1: And I did so well, done, so off.

210
00:11:12,120 --> 00:11:15,120
Speaker 2: This had attempted to create a major sports streaming service

211
00:11:15,160 --> 00:11:17,600
Speaker 2: that had brought the rights to the Premier League in

212
00:11:17,640 --> 00:11:20,160
Speaker 2: twenty sixteen. It had not Fox turl out over then.

213
00:11:21,520 --> 00:11:25,320
Speaker 2: In its most recent deal, which includes the Women's Super League,

214
00:11:25,440 --> 00:11:27,600
Speaker 2: it runs until twenty twenty eight. It's worth about one

215
00:11:27,679 --> 00:11:30,400
Speaker 2: hundred million dollars a year. The AFI is reporting that

216
00:11:30,440 --> 00:11:35,760
Speaker 2: Optus has approached potential buyers, including Stan. The discussions are ongoing,

217
00:11:35,800 --> 00:11:38,360
Speaker 2: so it's not a done deal yet. Stan has really

218
00:11:38,360 --> 00:11:41,960
Speaker 2: pushed into sport, so it's got Wimbledon and Roland Garross

219
00:11:42,040 --> 00:11:45,319
Speaker 2: in tennis, obviously the Australian Open. At the moment, it's

220
00:11:45,320 --> 00:11:49,160
Speaker 2: got Super Rugby Uay for Champions League EPL is a

221
00:11:49,200 --> 00:11:52,880
Speaker 2: big one because EPL and NBA, the American NBA, they

222
00:11:52,880 --> 00:11:56,400
Speaker 2: are the two sports that have got these massive global followings,

223
00:11:56,640 --> 00:11:59,480
Speaker 2: so it would be quite a coup for them for

224
00:11:59,559 --> 00:12:02,160
Speaker 2: Stan to get the EPL. Foxtel has the NBA.

225
00:12:02,240 --> 00:12:05,240
Speaker 1: At the moment, Sean I thought this was interesting. West

226
00:12:05,280 --> 00:12:09,840
Speaker 1: Farmers is closing its struggling marketplace business catcha is its

227
00:12:09,840 --> 00:12:13,400
Speaker 1: struggling to take on that think that the ultra cheap

228
00:12:13,679 --> 00:12:17,400
Speaker 1: international sites and lately we've just seen the rise and

229
00:12:17,520 --> 00:12:20,080
Speaker 1: rise of Temu from China and of course the long

230
00:12:20,200 --> 00:12:22,000
Speaker 1: term dominance now of Amazon.

231
00:12:22,200 --> 00:12:24,360
Speaker 2: That's right, Catch we'll finish before the end of this

232
00:12:24,400 --> 00:12:26,920
Speaker 2: financial year. There's been years of losses one hundred million

233
00:12:26,960 --> 00:12:30,240
Speaker 2: dollars last financial year. Wes Farmers bought Catch for two

234
00:12:30,360 --> 00:12:33,320
Speaker 2: hundred and thirty million dollars back in twenty nineteen. Provide

235
00:12:33,360 --> 00:12:34,839
Speaker 2: a lot of money for the owners, not so much

236
00:12:34,880 --> 00:12:37,719
Speaker 2: for West Farmers. Basically sells everything from kid sneakers to

237
00:12:37,760 --> 00:12:40,880
Speaker 2: electronic goods and books, just not enough of them. Number

238
00:12:40,920 --> 00:12:44,520
Speaker 2: one online retailer in Australia, Michael, who do you think

239
00:12:44,559 --> 00:12:44,800
Speaker 2: it is?

240
00:12:44,880 --> 00:12:45,320
Speaker 1: Amazon?

241
00:12:46,200 --> 00:12:49,680
Speaker 2: Amazon's two. It's invested about five billion dollars in the

242
00:12:49,760 --> 00:12:52,800
Speaker 2: last couple of years to get to that position. But

243
00:12:52,800 --> 00:12:54,720
Speaker 2: it's a big retailers. Woolies, Oh, Woollies.

244
00:12:55,720 --> 00:12:58,719
Speaker 1: I'm one of the shoppers. We did all of our online.

245
00:12:58,800 --> 00:13:01,080
Speaker 1: Everything from Woolies is online and delivered.

246
00:13:01,200 --> 00:13:02,679
Speaker 2: I should have got that, but I would never But

247
00:13:02,679 --> 00:13:05,440
Speaker 2: I would never use Willies online, really never.

248
00:13:05,720 --> 00:13:07,240
Speaker 1: But you're also a bit of a dinosaur.

249
00:13:07,960 --> 00:13:11,199
Speaker 2: Willy's first Amazon, then COHLS, office Works, JB, high Fire,

250
00:13:11,200 --> 00:13:13,080
Speaker 2: and Endeavor. According to Goldman.

251
00:13:12,840 --> 00:13:16,040
Speaker 1: Sachs, e commerce is under a bit of pressure local

252
00:13:16,080 --> 00:13:19,600
Speaker 1: e commerce clearly from these the arrival of Timu and

253
00:13:19,640 --> 00:13:22,720
Speaker 1: the other big operators. There were some interesting comments yesterday

254
00:13:22,760 --> 00:13:27,760
Speaker 1: afternoon from Ruslin Coogan because cogan dot com started at

255
00:13:27,800 --> 00:13:30,680
Speaker 1: the same time as Catch, which I thought was interesting,

256
00:13:30,720 --> 00:13:34,200
Speaker 1: and he actually said that they made multiple approaches to

257
00:13:34,200 --> 00:13:37,520
Speaker 1: Wes Farmers to try and buy Catch across the last

258
00:13:38,280 --> 00:13:43,000
Speaker 1: He doesn't specify a time period, and he basically expressed

259
00:13:43,040 --> 00:13:45,400
Speaker 1: sadness that this is the outcome that it is being

260
00:13:45,440 --> 00:13:48,080
Speaker 1: shut down, that surely a better alternative would have been

261
00:13:48,120 --> 00:13:50,160
Speaker 1: to offload it to Cogan.

262
00:13:50,640 --> 00:13:53,079
Speaker 2: I guaranteed that Rustling Cogan didn't want to pay too

263
00:13:53,120 --> 00:13:53,679
Speaker 2: much money for it.

264
00:13:53,800 --> 00:13:55,680
Speaker 1: I can't imagine he would be looking to spend a

265
00:13:55,720 --> 00:13:57,960
Speaker 1: huge amount of money looking for a bargain there, and hey,

266
00:13:58,040 --> 00:14:00,160
Speaker 1: maybe in these circumstances he might have had one.

267
00:14:00,320 --> 00:14:00,720
Speaker 2: Maybe.

268
00:14:00,840 --> 00:14:05,080
Speaker 1: Now, Yang Coal Sean has achieved its production guidance for

269
00:14:05,160 --> 00:14:08,760
Speaker 1: twenty twenty four, delivering nearly thirty seven million tons of coal,

270
00:14:09,120 --> 00:14:11,400
Speaker 1: but like other companies in the sector, it's really struggling

271
00:14:11,440 --> 00:14:14,680
Speaker 1: to gain much traction as prices of the fossil fuel suffer.

272
00:14:14,840 --> 00:14:16,800
Speaker 2: I've been waiting for about two weeks since we came

273
00:14:16,880 --> 00:14:19,680
Speaker 2: back full time to get a story on coal, because

274
00:14:19,680 --> 00:14:22,280
Speaker 2: it's really interesting at the moment, and Yan Coal's just

275
00:14:22,320 --> 00:14:24,720
Speaker 2: the reason to get into it. Coal's just on the

276
00:14:24,760 --> 00:14:27,640
Speaker 2: nose even in Donald Trump world. Donald Trump, Yes, they

277
00:14:27,600 --> 00:14:29,520
Speaker 2: talked about oil and gas. You didn't hear him talking

278
00:14:29,520 --> 00:14:30,800
Speaker 2: about thermal coal prices, did you.

279
00:14:30,840 --> 00:14:31,480
Speaker 1: That's a good point.

280
00:14:32,720 --> 00:14:35,600
Speaker 2: So in twenty twenty two, Coal was training it close

281
00:14:35,640 --> 00:14:38,400
Speaker 2: to four hundred and fifty US dollars a ton. Most

282
00:14:38,440 --> 00:14:40,160
Speaker 2: of last year was back down to about one hundred

283
00:14:40,200 --> 00:14:43,680
Speaker 2: and forty US dollars a ton. Today it's about one

284
00:14:43,760 --> 00:14:47,320
Speaker 2: hundred and fifteen US a ton ton. That's about three

285
00:14:47,360 --> 00:14:50,000
Speaker 2: It means close to three year lows. Few things in that.

286
00:14:50,040 --> 00:14:52,080
Speaker 2: I mean most of the China story. Economics slow down

287
00:14:52,080 --> 00:14:55,920
Speaker 2: their record high inventories of coal. China's actually opening more minds.

288
00:14:56,240 --> 00:14:59,520
Speaker 2: China is digging up more coal and that's putting more

289
00:14:59,520 --> 00:15:02,160
Speaker 2: supply into the market. The good news from Australia's point

290
00:15:02,160 --> 00:15:04,720
Speaker 2: of view is that about fifty percent of our coal

291
00:15:04,960 --> 00:15:08,160
Speaker 2: goes to Japan, and that's an economy where the industrial

292
00:15:08,320 --> 00:15:12,320
Speaker 2: recovery is underway. Yen Cole's share price jumped yesterday, but

293
00:15:12,360 --> 00:15:14,760
Speaker 2: it's still off eight percent of the past six months.

294
00:15:14,960 --> 00:15:18,120
Speaker 2: White Haven's off twenty percent in the past six months.

295
00:15:18,560 --> 00:15:20,600
Speaker 2: A new hope, that's the other big coal producer here

296
00:15:20,640 --> 00:15:21,120
Speaker 2: is flat.

297
00:15:22,600 --> 00:15:24,520
Speaker 1: Can we just stay in commodities just for a second,

298
00:15:25,240 --> 00:15:28,920
Speaker 1: and you say that no one's talking about coal. Everybody

299
00:15:28,920 --> 00:15:31,760
Speaker 1: that was talking about copper at the moment, and BHP

300
00:15:32,160 --> 00:15:35,520
Speaker 1: yesterday said that it's copper production rose ten percent in

301
00:15:35,560 --> 00:15:39,320
Speaker 1: the first half after its s Candida mine a Chilean mine.

302
00:15:39,320 --> 00:15:41,800
Speaker 1: I think it is reached record production.

303
00:15:41,880 --> 00:15:44,680
Speaker 2: Chilean es Condida mine. Ah cools that.

304
00:15:44,800 --> 00:15:47,320
Speaker 1: It's very very cool. It feels like it brings a

305
00:15:47,320 --> 00:15:48,320
Speaker 1: bit of culture.

306
00:15:47,960 --> 00:15:50,360
Speaker 2: To the podcast. Yeah, yeah, a bit of flair. I'd

307
00:15:50,400 --> 00:15:54,280
Speaker 2: say the world's biggest minor came out with its production report.

308
00:15:54,920 --> 00:15:57,440
Speaker 2: So copper production was up ten percent in the six

309
00:15:57,520 --> 00:16:00,400
Speaker 2: months to the end of December, l was up one percent.

310
00:16:00,480 --> 00:16:04,360
Speaker 2: Steel making coal production was down twenty one percent, but

311
00:16:04,440 --> 00:16:07,320
Speaker 2: it sold assets in that period. Nickel production was down

312
00:16:07,360 --> 00:16:09,520
Speaker 2: thirty one percent, and that's because it actually stopped digging

313
00:16:09,640 --> 00:16:12,520
Speaker 2: up nickel because the price issues. Copper, as you said,

314
00:16:12,920 --> 00:16:16,040
Speaker 2: is the hot commodity. We had BHP trying and buy

315
00:16:16,040 --> 00:16:19,480
Speaker 2: Anglo American last year to get its copper assets. We've

316
00:16:19,480 --> 00:16:23,600
Speaker 2: had Glencore and Rio talking about combining to somehow boost

317
00:16:23,760 --> 00:16:27,640
Speaker 2: their copper production. The good news for BHP at the

318
00:16:27,680 --> 00:16:31,520
Speaker 2: moment in copper is Escondida in KLA. The bad news

319
00:16:32,200 --> 00:16:34,800
Speaker 2: is the Olympic dam in South Australia, which actually isn't

320
00:16:35,240 --> 00:16:39,000
Speaker 2: doing that well. Bhp' share price yesterday ended down one percent.

321
00:16:39,200 --> 00:16:41,400
Speaker 1: Just quickly before we finish up local news. How did

322
00:16:41,480 --> 00:16:43,880
Speaker 1: the local market close yesterday.

323
00:16:43,680 --> 00:16:46,320
Speaker 2: Up zero point seven percent to eighty four hundred and

324
00:16:46,320 --> 00:16:48,920
Speaker 2: two points. The financials, the big banks did best. National

325
00:16:48,920 --> 00:16:51,040
Speaker 2: Australian Bank was up a couple of percent. Corporate news

326
00:16:51,320 --> 00:16:54,480
Speaker 2: Santos dropped after it delayed a two billion plus oil

327
00:16:54,480 --> 00:16:58,360
Speaker 2: and gas joint venture project in Western Australia. The two

328
00:16:58,480 --> 00:17:00,760
Speaker 2: best on the day have twenty four Wealth Manager jumped

329
00:17:00,760 --> 00:17:04,200
Speaker 2: eleven percent after it recorded strong quarterly infos and Liontown

330
00:17:04,280 --> 00:17:07,800
Speaker 2: jump twelve percent after it said lithium output tripled in

331
00:17:07,800 --> 00:17:10,920
Speaker 2: the December quarter. Good news for Lyingtown, which last year

332
00:17:10,960 --> 00:17:12,080
Speaker 2: was absolutely hammn.

333
00:17:12,160 --> 00:17:14,680
Speaker 1: Sean your interview today that comes up after the show.

334
00:17:14,680 --> 00:17:16,399
Speaker 1: We still have a little bit more to cover. But

335
00:17:16,800 --> 00:17:20,160
Speaker 1: the interview that we have is with Chris Sheen, who

336
00:17:20,240 --> 00:17:25,320
Speaker 1: is Executive Group Investigations at NAB but importantly spent twenty

337
00:17:25,400 --> 00:17:28,280
Speaker 1: seven years with the AFP and.

338
00:17:28,240 --> 00:17:30,560
Speaker 2: He's really enjoying working at NAB. We asked him off

339
00:17:30,600 --> 00:17:33,560
Speaker 2: here he said, what's it like? He said, I actually

340
00:17:33,600 --> 00:17:38,400
Speaker 2: really enjoy working National Australia event. Because I'm paraphrasing him totally,

341
00:17:38,560 --> 00:17:41,960
Speaker 2: but he's not spending weeks and months kind of staking

342
00:17:42,000 --> 00:17:42,520
Speaker 2: things out.

343
00:17:42,720 --> 00:17:45,359
Speaker 1: Yeah yeah, and working his way through the court system

344
00:17:45,400 --> 00:17:49,000
Speaker 1: as well, which I imagine would be bureaucratic, Whereas here he

345
00:17:49,119 --> 00:17:53,320
Speaker 1: is talking about scams. He is a scam expert and

346
00:17:53,440 --> 00:17:56,120
Speaker 1: so he is providing advice and he's got the top

347
00:17:56,160 --> 00:17:59,200
Speaker 1: five scams to watch out for this year for ossie businesses. Yeah,

348
00:17:59,480 --> 00:18:01,320
Speaker 1: it's great in Yeah, it sure is it. It's coming

349
00:18:01,359 --> 00:18:03,920
Speaker 1: up after the show International news time Now, Sean. Look,

350
00:18:04,119 --> 00:18:05,880
Speaker 1: we spent most of the first half of the show

351
00:18:05,920 --> 00:18:09,159
Speaker 1: talking international news. So just one story to mention today.

352
00:18:09,280 --> 00:18:13,040
Speaker 1: Weight loss drugs reduce the risk of developing more than

353
00:18:13,080 --> 00:18:18,040
Speaker 1: forty different health conditions. But but, but, but it's a

354
00:18:18,040 --> 00:18:21,880
Speaker 1: big butt somewhat, I right, right, given the.

355
00:18:21,800 --> 00:18:23,159
Speaker 2: Story we're talking about, go on.

356
00:18:25,160 --> 00:18:30,520
Speaker 1: They also excuse me, worse than nineteen conditions.

357
00:18:30,560 --> 00:18:33,600
Speaker 2: So the big debate out of these GLP one medications

358
00:18:34,160 --> 00:18:35,760
Speaker 2: is that we don't have a track record, so we

359
00:18:35,840 --> 00:18:40,720
Speaker 2: don't know the negative effects of them. We know some

360
00:18:40,760 --> 00:18:42,879
Speaker 2: of the positive effects. We're talking things like a zampiic

361
00:18:42,960 --> 00:18:46,040
Speaker 2: and mogovi. They can certainly help people lose more than

362
00:18:46,040 --> 00:18:48,919
Speaker 2: a fifth of their body weight. They've been linked to

363
00:18:48,920 --> 00:18:52,080
Speaker 2: a range of health benefits. A new study from Washington

364
00:18:52,280 --> 00:18:54,880
Speaker 2: University in Saint Louis, Missouri. It looked at the health

365
00:18:54,920 --> 00:18:57,920
Speaker 2: records of more than two point four million people, including

366
00:18:57,920 --> 00:19:02,200
Speaker 2: two hundred and fifty fifteen thousand able taking these drugs

367
00:19:02,560 --> 00:19:05,520
Speaker 2: to see their effects. So this is a major study.

368
00:19:06,440 --> 00:19:10,159
Speaker 2: Cardiac arrest so reduces the risk of cardiac arrest by

369
00:19:10,160 --> 00:19:14,280
Speaker 2: about twenty two percent, pneumonia by sixteen percent, alzeimer is

370
00:19:14,320 --> 00:19:18,639
Speaker 2: twelve percent, bacterial infections twelve percent, alcohol use disorder by

371
00:19:18,640 --> 00:19:21,960
Speaker 2: eleven percent. I actually don't know what alcohol use disorder is,

372
00:19:22,000 --> 00:19:26,320
Speaker 2: but I'm not going to look for the definition. However, now, well,

373
00:19:26,320 --> 00:19:28,280
Speaker 2: there were forty two health outcomes that were shown to

374
00:19:28,359 --> 00:19:31,640
Speaker 2: have a lower likelihood in a person who has prescribed

375
00:19:31,680 --> 00:19:35,439
Speaker 2: a golp one drug, according to report in the Telegraph. However,

376
00:19:35,680 --> 00:19:42,400
Speaker 2: nineteen healthcare outcomes were also shown to be more likely nausea, vomiting, headaches,

377
00:19:42,680 --> 00:19:46,719
Speaker 2: abdominal pain. The study also uncovered the medications are linked

378
00:19:47,200 --> 00:19:52,280
Speaker 2: to an increased risk of hemorrhoids, low blood pressure, tendinitis,

379
00:19:52,320 --> 00:19:57,720
Speaker 2: and osteoarthritis. So whether or not the benefits, I think

380
00:19:57,720 --> 00:20:00,879
Speaker 2: the benefits outweigh the negative is. But it depends who

381
00:20:00,920 --> 00:20:01,240
Speaker 2: you are.

382
00:20:01,520 --> 00:20:04,720
Speaker 1: Yeah, it depends on if you were predisposed to hemorrhoids,

383
00:20:04,720 --> 00:20:08,119
Speaker 1: I suppose. But I mean, those are those the forty

384
00:20:08,119 --> 00:20:12,240
Speaker 1: two conditions that they improve. Those are kind of serious

385
00:20:12,280 --> 00:20:14,920
Speaker 1: health conditions, whereas the other ones seem like side effects

386
00:20:15,320 --> 00:20:17,359
Speaker 1: kind of thing. So it's it's an interesting kind of

387
00:20:17,400 --> 00:20:22,760
Speaker 1: almost a definition. Yeah, but yes, hemorrhoids is Unfortunately where

388
00:20:22,760 --> 00:20:23,600
Speaker 1: we are ending the show.

389
00:20:23,800 --> 00:20:25,840
Speaker 2: Why do we focus on hemorrhoids in this particular. It

390
00:20:25,840 --> 00:20:26,840
Speaker 2: could have been anything.

391
00:20:26,560 --> 00:20:27,880
Speaker 1: Because we're at the back end of the show.

392
00:20:27,920 --> 00:20:29,159
Speaker 2: Sean, excellent, there we go.

393
00:20:29,920 --> 00:20:32,160
Speaker 1: Coming up next is the Fear and Great Daily interview

394
00:20:32,320 --> 00:20:35,280
Speaker 1: Chris Shean from NAB talking all about the five scams

395
00:20:35,280 --> 00:20:37,679
Speaker 1: for Rossie businesses to watch out for this year. And

396
00:20:37,840 --> 00:20:40,159
Speaker 1: if you're after some more listening as well, you can

397
00:20:40,240 --> 00:20:42,399
Speaker 1: check out our sister podcast, How Do They Afford That,

398
00:20:42,440 --> 00:20:44,760
Speaker 1: which comes out every Wednesday. So there's a new episode

399
00:20:44,800 --> 00:20:48,840
Speaker 1: out today. It is with co host Canna Campbell is

400
00:20:48,920 --> 00:20:52,920
Speaker 1: a financial planner and she talks through these six most

401
00:20:53,000 --> 00:20:56,000
Speaker 1: common questions that she was asked by clients as a

402
00:20:56,040 --> 00:20:58,879
Speaker 1: financial planner. So it's actually really interesting the questions that

403
00:20:58,880 --> 00:21:00,800
Speaker 1: people just could not wait to get off their chest

404
00:21:00,800 --> 00:21:02,880
Speaker 1: the moment they walked into their first meeting with her.

405
00:21:03,000 --> 00:21:05,159
Speaker 1: So it's an interesting conversation. I'll put a link in

406
00:21:05,200 --> 00:21:07,600
Speaker 1: today's show notes as well. Thank you very much, Sean,

407
00:21:07,680 --> 00:21:09,680
Speaker 1: Thank you, Michael. It is Wednesday, the twenty second of

408
00:21:09,720 --> 00:21:12,080
Speaker 1: January twenty twenty five. Make sure you're following the podcast

409
00:21:12,160 --> 00:21:15,479
Speaker 1: and please join us online on LinkedIn, Instagram, ex TikTok

410
00:21:15,520 --> 00:21:17,960
Speaker 1: and Facebook. I'm Michael Thompson and that was fear and greed.

411
00:21:18,240 --> 00:21:21,000
Speaker 1: Have a great day.