1 00:00:06,320 --> 00:00:09,479 Speaker 1: Welcome to Fear and Greed business news you can use. Today. 2 00:00:09,640 --> 00:00:12,200 Speaker 1: Markets are on edge as a red hot Wall Street 3 00:00:12,320 --> 00:00:15,680 Speaker 1: faces the risk of a sharp pullback. Spring selling season 4 00:00:15,760 --> 00:00:19,560 Speaker 1: kicks off with buyers flocking to auctions and more leadership 5 00:00:19,640 --> 00:00:24,440 Speaker 1: tensions at Atlasian Plus, Australia braces for the somewhat inevitable 6 00:00:24,520 --> 00:00:27,640 Speaker 1: arrival of the next strain of bird flu, and Apple 7 00:00:27,920 --> 00:00:30,840 Speaker 1: set to launch its new iPhone. It is Monday, the 8 00:00:30,960 --> 00:00:34,080 Speaker 1: eighth of September twenty twenty five. I'm Michael Thompson and 9 00:00:34,120 --> 00:00:38,160 Speaker 1: good morning Natalie McDonald. Good morning, Michael, Natalie. The main 10 00:00:38,280 --> 00:00:41,800 Speaker 1: story this morning. Investors are on edge as US stock 11 00:00:41,840 --> 00:00:44,360 Speaker 1: markets face the risk of a sharp pullback. Despite the 12 00:00:44,760 --> 00:00:48,240 Speaker 1: S and P five hundred climbing eleven percent so far 13 00:00:48,320 --> 00:00:52,280 Speaker 1: this year and setting records last week. Analysts at Morgan Stanley, 14 00:00:52,320 --> 00:00:55,920 Speaker 1: Deutsche Bank, Evercore and top hedge funds are warning a 15 00:00:56,200 --> 00:00:59,080 Speaker 1: five to fifteen percent correction could be coming. 16 00:00:59,280 --> 00:01:02,480 Speaker 2: The red flags it's here, we'll rising tariffs are slowing 17 00:01:02,520 --> 00:01:07,360 Speaker 2: economy and stock prices trading well above historical norms. Inflation 18 00:01:07,760 --> 00:01:11,280 Speaker 2: may look tame for now, but manufacturers are delaying passing 19 00:01:11,360 --> 00:01:14,880 Speaker 2: higher costs to consumers. Costs that are already starting to 20 00:01:14,959 --> 00:01:19,120 Speaker 2: hit sectors like food and electronics. If consumer spending slows, 21 00:01:19,360 --> 00:01:21,760 Speaker 2: business profits could take a hit. The S and P 22 00:01:21,840 --> 00:01:24,639 Speaker 2: five hundreds price to earnings ratio is now twenty seven. 23 00:01:24,720 --> 00:01:28,360 Speaker 2: That's way above its long term average of sixteen, fueling 24 00:01:28,400 --> 00:01:31,920 Speaker 2: fears that many stocks are overvalued. And of course, we 25 00:01:32,080 --> 00:01:34,320 Speaker 2: pay a lot of attention to what happens on Wall 26 00:01:34,360 --> 00:01:37,399 Speaker 2: Street because the US is the world's biggest economy. In 27 00:01:37,440 --> 00:01:40,360 Speaker 2: Wall Street delivers a lead into our local market each day. 28 00:01:41,080 --> 00:01:43,760 Speaker 1: We're sort of a sign of some of these concerns 29 00:01:43,800 --> 00:01:46,240 Speaker 1: on Friday, as Wall Street wobbled off the back of 30 00:01:46,360 --> 00:01:49,840 Speaker 1: US job data showing just twenty two thousand new jobs 31 00:01:49,880 --> 00:01:51,160 Speaker 1: were added to the economy. 32 00:01:51,560 --> 00:01:54,800 Speaker 2: Job opening spell again in July, with quits and hiring 33 00:01:54,920 --> 00:01:58,920 Speaker 2: remaining low. That weakness was confirmed by yet another week 34 00:01:59,000 --> 00:02:02,440 Speaker 2: payroll report for August, with new payrolls coming in at 35 00:02:02,520 --> 00:02:04,760 Speaker 2: less than a third of what was expected and a 36 00:02:04,840 --> 00:02:08,280 Speaker 2: further downwards revision to prior months, with unemployment rising to 37 00:02:08,320 --> 00:02:10,919 Speaker 2: four point three percent. The S and P five hundred, 38 00:02:11,200 --> 00:02:14,919 Speaker 2: Dow Jones, and Nasdaq were unable to sustain gains, falling 39 00:02:15,080 --> 00:02:18,160 Speaker 2: as Wall Street wade whether the job market head is 40 00:02:18,520 --> 00:02:21,880 Speaker 2: just enough to prompt federal reserve rate cuts or if 41 00:02:21,919 --> 00:02:26,120 Speaker 2: it's slowing too much, signaling a potential economic downturn. Treasury 42 00:02:26,200 --> 00:02:30,760 Speaker 2: yields also tumbling, and while investors typically love rate cuts, 43 00:02:31,080 --> 00:02:34,120 Speaker 2: the market move suggest that they don't necessarily believe the 44 00:02:34,200 --> 00:02:37,000 Speaker 2: September cut could be a cure all for the US 45 00:02:37,120 --> 00:02:40,040 Speaker 2: economy and these red flags that it's currently facing. 46 00:02:40,560 --> 00:02:42,520 Speaker 1: All right, so what does that mean is actually going 47 00:02:42,560 --> 00:02:44,480 Speaker 1: to happen? Then that the next FED meeting is just 48 00:02:44,520 --> 00:02:48,840 Speaker 1: around the corner what a market's expecting will take place. 49 00:02:49,320 --> 00:02:52,839 Speaker 2: Traders are now betting on a one hundred percent probability 50 00:02:52,840 --> 00:02:55,160 Speaker 2: that the FED will cut its main interest rate at 51 00:02:55,160 --> 00:02:58,600 Speaker 2: its next meeting that's taking place on the seventeenth of September. So, 52 00:02:58,639 --> 00:03:01,320 Speaker 2: as you say, just around the corner, but one hundred percent. 53 00:03:01,360 --> 00:03:04,959 Speaker 2: That's according to CME Group AMP chief economist Shane Oliver, 54 00:03:05,080 --> 00:03:07,959 Speaker 2: saying that the disruption caused by Trump's tariffs is now 55 00:03:08,080 --> 00:03:11,079 Speaker 2: clearly starting to show up in a weaker jobs data, 56 00:03:11,160 --> 00:03:14,320 Speaker 2: although Trump will, of course blame the Fed and everybody else, 57 00:03:14,760 --> 00:03:18,840 Speaker 2: which is exactly what happened. Trump taking the opportunity for 58 00:03:18,960 --> 00:03:22,880 Speaker 2: yet another job via his truth social platform writing, Jerome 59 00:03:23,040 --> 00:03:26,760 Speaker 2: too late. Pal should have lowered rates long ago. As usual, 60 00:03:26,960 --> 00:03:31,200 Speaker 2: He's too late. His comment comes a day after Senate 61 00:03:31,240 --> 00:03:34,960 Speaker 2: hearing to confirm Trump picked Stephn Mirren as the governor, 62 00:03:35,000 --> 00:03:38,120 Speaker 2: as the White House continues to try to recast the 63 00:03:38,120 --> 00:03:40,320 Speaker 2: FED almost in pursuit of rate cuts. 64 00:03:40,760 --> 00:03:42,800 Speaker 1: No, we mentioned that we obviously watch what happens in 65 00:03:42,840 --> 00:03:45,080 Speaker 1: the US as a lead in for local markets. What 66 00:03:45,120 --> 00:03:46,680 Speaker 1: do we expect it's going to take place on the 67 00:03:46,720 --> 00:03:47,600 Speaker 1: ASEX today? 68 00:03:48,040 --> 00:03:50,080 Speaker 2: Futures are showing that the S and P ASX two 69 00:03:50,160 --> 00:03:53,920 Speaker 2: hundred index will dip slightly at the open before taking 70 00:03:54,000 --> 00:03:56,960 Speaker 2: cues from what has been Wall Street's recent strength and 71 00:03:57,000 --> 00:04:00,200 Speaker 2: even some strength on Friday to resume its time. 72 00:04:00,680 --> 00:04:05,280 Speaker 1: Okay, let's turn away from the US and away from markets. 73 00:04:05,520 --> 00:04:08,400 Speaker 1: Let's talk real estate. I love talking property. Auction clearance 74 00:04:08,480 --> 00:04:12,000 Speaker 1: rates continue to track well as buyers race to jump 75 00:04:12,000 --> 00:04:14,720 Speaker 1: in before changes to the First Home Buyers Scheme come 76 00:04:14,760 --> 00:04:16,760 Speaker 1: into effect on the first of October. Of course, this 77 00:04:16,960 --> 00:04:19,880 Speaker 1: was the first official weekend of the spring selling season 78 00:04:19,920 --> 00:04:25,120 Speaker 1: and clearly people went out in force to the auctions 79 00:04:25,120 --> 00:04:25,920 Speaker 1: around the country. 80 00:04:26,160 --> 00:04:29,680 Speaker 2: Across Australia's capital cities, the preliminary auction clearance rate hits 81 00:04:29,720 --> 00:04:33,080 Speaker 2: seventy five percent. Now, that is a touch softer than 82 00:04:33,200 --> 00:04:35,840 Speaker 2: last week, but it does mark the fourth straight week 83 00:04:35,880 --> 00:04:38,920 Speaker 2: at this level or higher. Sydney is continuing to drive 84 00:04:38,960 --> 00:04:42,080 Speaker 2: growth at seventy eight percent, Melbourne trending slightly weaker at 85 00:04:42,120 --> 00:04:45,599 Speaker 2: seventy three point two, with Brisbane reaching seventy six and 86 00:04:45,600 --> 00:04:48,840 Speaker 2: a half. For sellers, auctioneers are saying that some vendors 87 00:04:48,839 --> 00:04:52,400 Speaker 2: are actually opting to delay their auction until October, with 88 00:04:52,680 --> 00:04:56,279 Speaker 2: expectations of more potential buyers coming to market once the 89 00:04:56,360 --> 00:04:59,960 Speaker 2: Albanese government's five percent deposit scheme four first home buyers 90 00:05:00,080 --> 00:05:00,960 Speaker 2: comes into effect. 91 00:05:01,240 --> 00:05:04,480 Speaker 1: Yeah, you can understand that they would be keeping their market, 92 00:05:04,760 --> 00:05:07,400 Speaker 1: or keeping their powder dry until suddenly you have an 93 00:05:07,440 --> 00:05:09,080 Speaker 1: influx of new buyers. 94 00:05:09,200 --> 00:05:12,240 Speaker 2: Oh why wouldn't you. It's just smart selling. Ye. 95 00:05:12,360 --> 00:05:16,799 Speaker 1: Indeed, interestingly, it's not just the metro areas in focus, 96 00:05:17,200 --> 00:05:21,120 Speaker 1: the New South Wales border town of Albury, which interestingly 97 00:05:21,160 --> 00:05:26,080 Speaker 1: is where I was born. Staggering, I say, interestingly, I 98 00:05:26,080 --> 00:05:28,760 Speaker 1: don't actually know where that is interesting to anybody except 99 00:05:28,760 --> 00:05:30,800 Speaker 1: for me. I watched your face as I said it, 100 00:05:30,839 --> 00:05:36,160 Speaker 1: and there was absolutely no reaction. It's sorry, staggering sixteen 101 00:05:36,520 --> 00:05:40,360 Speaker 1: fold jump in net migration from capital cities in the 102 00:05:40,400 --> 00:05:43,840 Speaker 1: past year. This is according to the latest Regional Mover Index. 103 00:05:44,560 --> 00:05:47,520 Speaker 2: I'll have you know, Michael, I actually Google mapped Aubrey 104 00:05:47,640 --> 00:05:50,480 Speaker 2: because i wasn't sure where it was and I'm still 105 00:05:50,520 --> 00:05:53,800 Speaker 2: frankly not entirely sure where the nearest David Jones would be. 106 00:05:54,440 --> 00:05:59,280 Speaker 2: But that side across the board we are seeing more 107 00:05:59,279 --> 00:06:03,400 Speaker 2: Australians being big city living. For the regions, net migration 108 00:06:03,520 --> 00:06:06,919 Speaker 2: from capitals to country areas rows twenty six percent. There 109 00:06:06,960 --> 00:06:10,440 Speaker 2: are hotspots emerging like Townsville, Bendigo and the Sunshine Coast 110 00:06:10,560 --> 00:06:15,440 Speaker 2: drawing record crowds thanks to affordability, jobs and lifestyle. That's 111 00:06:15,440 --> 00:06:18,680 Speaker 2: according to data released in a partnership between Regional Australia 112 00:06:18,760 --> 00:06:22,279 Speaker 2: Institute and the Commonwealth Bank. Queensland and New South Wales 113 00:06:22,279 --> 00:06:25,720 Speaker 2: are top destinations, while Tasmania has actually managed to term 114 00:06:25,800 --> 00:06:29,039 Speaker 2: recent net losses into gains and the East pilbor in 115 00:06:29,200 --> 00:06:32,320 Speaker 2: Wa topped the growth list with a three hundred and 116 00:06:32,400 --> 00:06:36,400 Speaker 2: eleven percent spike. Regional leaders say that the pool factors 117 00:06:36,400 --> 00:06:40,599 Speaker 2: are clear housing, infrastructure, jobs and lifestyle, but they have 118 00:06:40,720 --> 00:06:44,559 Speaker 2: warned the housing supply, which we hear over and over again. 119 00:06:44,839 --> 00:06:46,960 Speaker 2: Needs to be able to keep pace with that demand. 120 00:06:47,400 --> 00:06:50,120 Speaker 1: Indeed, okay, let's take a very quick break. We'll be 121 00:06:50,160 --> 00:06:51,640 Speaker 1: back in a moment with the rest of the day's 122 00:06:51,680 --> 00:07:03,080 Speaker 1: business news. Natalie Atlasian's leadership tensions have flared again with 123 00:07:03,200 --> 00:07:07,200 Speaker 1: reports that billionaire co founder Mike cannon Brooks renegged on 124 00:07:07,240 --> 00:07:11,800 Speaker 1: a succession plan that would have elevated President ANW. Barradoage 125 00:07:11,920 --> 00:07:12,720 Speaker 1: to CEO. 126 00:07:13,560 --> 00:07:17,280 Speaker 2: Baraduaje, who's been with Alasian for eleven years, announced her 127 00:07:17,320 --> 00:07:21,200 Speaker 2: resignation last month. Sausas taught The Australian she was being 128 00:07:21,240 --> 00:07:24,280 Speaker 2: prepared by both canon Brooks and co founder Scott Farquha 129 00:07:24,440 --> 00:07:28,160 Speaker 2: with board support to eventually take the reins, but the 130 00:07:28,200 --> 00:07:32,280 Speaker 2: newspaper claims that canon Brooks instead installed himself as sole 131 00:07:32,400 --> 00:07:36,440 Speaker 2: CEO after Farquhah's shock exit in twenty twenty four, scustling 132 00:07:36,480 --> 00:07:41,360 Speaker 2: the plan. Alasian denies any such succession arrangement. The developments 133 00:07:41,440 --> 00:07:45,240 Speaker 2: highlight growing fractures inside the sixty five billion dollar software company. 134 00:07:45,400 --> 00:07:50,240 Speaker 2: Already unsettled by Farquha's departure and multiple senior exits. 135 00:07:50,600 --> 00:07:54,040 Speaker 1: Now Australia is the last continent still free of the 136 00:07:54,040 --> 00:07:57,040 Speaker 1: deadly H five N one bird flu, but experts are 137 00:07:57,040 --> 00:07:59,920 Speaker 1: warning that that luck may soon run out. With spring 138 00:08:00,080 --> 00:08:03,400 Speaker 1: migration underway. The nation has been bracing for years for 139 00:08:03,600 --> 00:08:06,280 Speaker 1: the virus to arrive, and industry leaders say it's a 140 00:08:06,320 --> 00:08:07,680 Speaker 1: matter of when, not if. 141 00:08:08,360 --> 00:08:11,720 Speaker 2: Globally, H five N one has wiped out tens of 142 00:08:11,760 --> 00:08:14,600 Speaker 2: millions of poultry birds, it's hammered dairy herds in the 143 00:08:14,680 --> 00:08:18,880 Speaker 2: US and sent egg and meat prices soaring in South America. 144 00:08:18,920 --> 00:08:22,640 Speaker 2: It's killed wildlife on a massive scale, from penguins to 145 00:08:22,800 --> 00:08:26,480 Speaker 2: the sea lions. Australia has already seen the damage from 146 00:08:26,560 --> 00:08:29,760 Speaker 2: les lethal strains, with last year's H seven outbreaks forcing 147 00:08:29,880 --> 00:08:33,520 Speaker 2: mass culls and cutting eggs supply by ten percent. Canberra 148 00:08:33,559 --> 00:08:36,960 Speaker 2: has set aside ninety five million dollars for biosecurity and 149 00:08:37,000 --> 00:08:40,760 Speaker 2: response measures, but poultry farmers say their biggest threat remains 150 00:08:40,840 --> 00:08:44,080 Speaker 2: wild birds. If H five N one lands here, the 151 00:08:44,160 --> 00:08:48,040 Speaker 2: economic fallout could dwarf anything the industry has faced before. 152 00:08:48,960 --> 00:08:52,480 Speaker 1: Now. In an example really of how this could play 153 00:08:52,480 --> 00:08:55,840 Speaker 1: out for business, Coles has backflipped on its promise to 154 00:08:55,960 --> 00:08:59,800 Speaker 1: ditch caged eggs this year, delaying the phase out not 155 00:09:00,160 --> 00:09:02,040 Speaker 1: till next year or the year after, but all the 156 00:09:02,040 --> 00:09:03,160 Speaker 1: way to twenty thirty. 157 00:09:03,480 --> 00:09:06,800 Speaker 2: The supermarket giant says that those recent bird flu outbreaks 158 00:09:06,800 --> 00:09:10,200 Speaker 2: have hammered supply, pushing up prices and leaving shelves bare 159 00:09:10,480 --> 00:09:13,240 Speaker 2: and with families under pressure from the cost of living crunch. 160 00:09:13,320 --> 00:09:16,760 Speaker 2: Coles argues that removing the cheapest eggs right now it's 161 00:09:16,800 --> 00:09:21,800 Speaker 2: just not realistic. Animal welfare groups understandably aren't happy. They've 162 00:09:21,880 --> 00:09:25,679 Speaker 2: long campaigned against battery cages, which can house tens of 163 00:09:25,720 --> 00:09:28,760 Speaker 2: thousands of hens in a single shed, but caged egg 164 00:09:28,800 --> 00:09:33,840 Speaker 2: producers say affordability matters more, calling it a market decision, 165 00:09:34,240 --> 00:09:38,280 Speaker 2: not an animal welfare one. Coals insists eighty five percent 166 00:09:38,320 --> 00:09:41,480 Speaker 2: of its eggs are already cage free and says it's 167 00:09:41,520 --> 00:09:45,160 Speaker 2: still committed to phasing cages out long term. Governments have 168 00:09:45,200 --> 00:09:47,920 Speaker 2: stepped into though both federal and state have pushed a 169 00:09:48,000 --> 00:09:51,640 Speaker 2: ban caged egg farming entirely by twenty thirty six. 170 00:09:52,200 --> 00:09:55,319 Speaker 1: Now, that was all about Coals flipping the Woolworths. Now 171 00:09:55,360 --> 00:09:58,679 Speaker 1: the supermarket giant is continuing it to push into PetCare, 172 00:09:59,160 --> 00:10:02,360 Speaker 1: buying a fifty p stake in the Queensland pet food business. 173 00:10:02,760 --> 00:10:06,679 Speaker 2: While it's not the biggest acquisition. Ever, it is interesting 174 00:10:06,800 --> 00:10:09,559 Speaker 2: because of where Wilwors is at right now and where 175 00:10:09,760 --> 00:10:12,920 Speaker 2: it's trying to go. The fifty percent share in Big 176 00:10:12,920 --> 00:10:16,720 Speaker 2: Dog pet Foods was acquired through wilworst Petspiration Division, which 177 00:10:16,720 --> 00:10:19,520 Speaker 2: will Worst bought for almost six hundred million dollars three 178 00:10:19,600 --> 00:10:23,040 Speaker 2: years ago. That division includes pet Stock through which the 179 00:10:23,120 --> 00:10:26,520 Speaker 2: investment in Big Dog was made. Love story short. Wilworth 180 00:10:26,600 --> 00:10:30,360 Speaker 2: now owns half a business making almost seven million kilograms 181 00:10:30,360 --> 00:10:33,160 Speaker 2: of pet food a year, coming off the back of 182 00:10:33,200 --> 00:10:36,199 Speaker 2: a lackluster set of annual results. It shows just how 183 00:10:36,280 --> 00:10:39,280 Speaker 2: keen Wilworth is to win a bigger slice of what 184 00:10:39,480 --> 00:10:41,920 Speaker 2: is a ten billion dollar pet care sector. 185 00:10:42,240 --> 00:10:44,880 Speaker 1: Okay, now we've talked about Cols, We've talked about Woollies. 186 00:10:44,960 --> 00:10:48,480 Speaker 1: Let's talk about them together. Australia's biggest payroll scandal just 187 00:10:48,640 --> 00:10:51,360 Speaker 1: keeps on growing. Woolies and Coals are back in the 188 00:10:51,400 --> 00:10:54,040 Speaker 1: headlines after a federal court ruling found that they have 189 00:10:54,320 --> 00:10:57,840 Speaker 1: underpaid tens of thousands of staff over more than a decade. 190 00:10:58,000 --> 00:11:01,400 Speaker 2: The supermarkets failed to keep at curate records of overtime, 191 00:11:01,679 --> 00:11:05,559 Speaker 2: penalty rates and rostering, meaning that employees didn't receive all 192 00:11:05,600 --> 00:11:10,079 Speaker 2: the entitlements they were owed. Woolworth has already repaid over 193 00:11:10,200 --> 00:11:13,079 Speaker 2: four hundred and eighty six million dollars and set aside 194 00:11:13,080 --> 00:11:16,400 Speaker 2: five hundred and forty seven million dollars. More Coles has 195 00:11:16,440 --> 00:11:19,920 Speaker 2: repaid thirty million so far, with fifty million earmarked for 196 00:11:20,000 --> 00:11:24,240 Speaker 2: further remediation. The Federal Court Justice called it a calamity 197 00:11:24,360 --> 00:11:28,400 Speaker 2: and ruled employers can't hide behind sloppy record keeping. Every 198 00:11:28,640 --> 00:11:31,720 Speaker 2: hour work must be logged or companies face not just 199 00:11:31,800 --> 00:11:35,079 Speaker 2: back paid, but potentially hefty penalties under the Fair Work Act. 200 00:11:35,559 --> 00:11:39,760 Speaker 2: The scandal effects over thirty thousand current and former staff 201 00:11:40,000 --> 00:11:43,800 Speaker 2: and is now the largest corporate underpayment case in Australian history. 202 00:11:44,160 --> 00:11:47,320 Speaker 2: Lawyers warned that the total payouts could actually climb even 203 00:11:47,400 --> 00:11:51,000 Speaker 2: higher as the supermarkets continue to review records and calculate 204 00:11:51,040 --> 00:11:51,520 Speaker 2: what's owed. 205 00:11:52,160 --> 00:11:54,679 Speaker 1: One last one before we get to international news. It's 206 00:11:54,720 --> 00:11:58,679 Speaker 1: been two years now since Alan Joyce left Quantus bat 207 00:11:59,160 --> 00:12:02,360 Speaker 1: How about this? On Friday, the airline to annual report 208 00:12:02,480 --> 00:12:06,079 Speaker 1: revealed that the former CEO will collect one last payout 209 00:12:06,440 --> 00:12:10,920 Speaker 1: three point eight million dollars worth of shares. Pretty incredible. 210 00:12:11,320 --> 00:12:15,800 Speaker 2: Joyce was docked millions after controversies over ghost flights and 211 00:12:15,840 --> 00:12:19,600 Speaker 2: the illegal sacking of eighteen hundred workers, but even after 212 00:12:19,640 --> 00:12:23,040 Speaker 2: the so called penalties, he walked away with fourteen point 213 00:12:23,080 --> 00:12:26,480 Speaker 2: four million dollars last year, plus that final bonus now 214 00:12:26,520 --> 00:12:29,760 Speaker 2: which Joyce is actually blocked from cashing out for one year. 215 00:12:30,280 --> 00:12:33,640 Speaker 2: Investors were furious, with eighty three percent voting against his 216 00:12:33,760 --> 00:12:38,000 Speaker 2: pay deal, one of the biggest backlashes in corporate history. Meanwhile, 217 00:12:38,160 --> 00:12:41,760 Speaker 2: new boss Vanessa Hudson is on a slightly slimmer six 218 00:12:41,800 --> 00:12:44,760 Speaker 2: point three million dollar package that's less than Joyce's record 219 00:12:44,840 --> 00:12:47,840 Speaker 2: twenty three point nine million hare in twenty eight In 220 00:12:47,880 --> 00:12:52,600 Speaker 2: twenty eighteen, but she's winning back trust. Quantus chares have doubled, 221 00:12:52,720 --> 00:12:56,120 Speaker 2: new aircraft are on order, and earnings are looking pretty strong. 222 00:12:57,000 --> 00:13:00,200 Speaker 1: At The other stet that I thought was fascinating out 223 00:13:00,240 --> 00:13:02,800 Speaker 1: of this was just how much Alan Joyce has earned 224 00:13:02,920 --> 00:13:07,040 Speaker 1: throughout his career at Quantus. It was there for seventeen 225 00:13:07,160 --> 00:13:08,760 Speaker 1: years and I think the total came in at one 226 00:13:08,840 --> 00:13:12,640 Speaker 1: hundred and seventeen million dollars across the course of that. 227 00:13:12,840 --> 00:13:15,719 Speaker 1: It's a long time to be at one airline, and 228 00:13:15,760 --> 00:13:18,360 Speaker 1: it did have a lot of successes during that period, 229 00:13:19,000 --> 00:13:22,600 Speaker 1: but towards the end things weren't so good. But obviously 230 00:13:22,640 --> 00:13:24,960 Speaker 1: now the share price is booming and that has affected 231 00:13:25,000 --> 00:13:28,240 Speaker 1: the value of that final payout that he is receiving. 232 00:13:28,480 --> 00:13:32,800 Speaker 1: Let's turn into international news now. Japan's Prime Minister, shagherro 233 00:13:32,880 --> 00:13:35,800 Speaker 1: Orshiba has quit less than a year into the job, 234 00:13:35,880 --> 00:13:38,880 Speaker 1: following pressure from his party to take responsibility for a 235 00:13:38,960 --> 00:13:41,920 Speaker 1: major defeat in July's parliamentary elections. 236 00:13:42,240 --> 00:13:45,600 Speaker 2: The resignation comes just a day before the Liberal Democratic 237 00:13:45,679 --> 00:13:48,960 Speaker 2: Party was set to vote on an early leadership election, 238 00:13:49,440 --> 00:13:54,080 Speaker 2: essentially a no confidence motion. The move follows a humiliating 239 00:13:54,120 --> 00:13:58,160 Speaker 2: defeat in July's elections, where his Liberal Democratic Party lost 240 00:13:58,200 --> 00:14:01,520 Speaker 2: control of both houses of parliament and voters had turned 241 00:14:01,520 --> 00:14:05,400 Speaker 2: against Ishiba over soaring living costs, and party insiders had 242 00:14:05,440 --> 00:14:08,400 Speaker 2: been pushing him to go for weeks. Attention now turns, 243 00:14:08,440 --> 00:14:11,760 Speaker 2: of course, to who will replace him. The front runners here, well, 244 00:14:11,800 --> 00:14:16,160 Speaker 2: we've got former leadership rival Senai Taikichi, who favors big 245 00:14:16,160 --> 00:14:20,720 Speaker 2: spending and luci monetary policy, and rising stash jiro Koazumi, 246 00:14:20,760 --> 00:14:22,960 Speaker 2: who is Issuba's agriculture minister. 247 00:14:24,040 --> 00:14:27,240 Speaker 1: Apple Natalie is getting ready to seek and hear the 248 00:14:27,320 --> 00:14:30,720 Speaker 1: excitement in my voice about this story, right, it's preparing 249 00:14:30,760 --> 00:14:35,520 Speaker 1: to unveil the iPhone seventeen lineup this week in California. 250 00:14:35,880 --> 00:14:38,520 Speaker 1: The big talking point is thinness. 251 00:14:38,760 --> 00:14:41,440 Speaker 2: Which isn't something you can say very often in the 252 00:14:41,520 --> 00:14:43,200 Speaker 2: year twenty twenty five. 253 00:14:44,040 --> 00:14:45,680 Speaker 1: It's a bold lead in, isn't it? 254 00:14:45,680 --> 00:14:47,960 Speaker 2: It is? But a less say that the iPhone Air 255 00:14:48,040 --> 00:14:50,720 Speaker 2: will be Apple's slimmest effort, just five and a half 256 00:14:50,720 --> 00:14:54,880 Speaker 2: millimeters sick. That is two millimeters thinner than today's Pro models. 257 00:14:55,200 --> 00:14:57,920 Speaker 2: But the trade off here is a much smaller battery, 258 00:14:58,040 --> 00:15:01,120 Speaker 2: meaning more time at the charger. That's that's a massive 259 00:15:01,200 --> 00:15:04,200 Speaker 2: no for me personally. But the Air is tip to 260 00:15:04,240 --> 00:15:07,400 Speaker 2: replace the Plus model and land at around fourteen hundred dollars. 261 00:15:07,680 --> 00:15:10,840 Speaker 2: Some analysts think that Apple may even push pricing closer 262 00:15:10,880 --> 00:15:14,720 Speaker 2: to twelve hundred to catch subsidies in China, a key market. 263 00:15:14,880 --> 00:15:17,520 Speaker 2: It's all part of a battle with Sam sunk to 264 00:15:17,600 --> 00:15:21,640 Speaker 2: a via flat smartphone sales. Beyond iPhones, Apples expected to 265 00:15:21,720 --> 00:15:25,320 Speaker 2: roll out new Apple Watches and AirPods, but no major 266 00:15:25,360 --> 00:15:27,720 Speaker 2: AI upgrades to Siri that is still on ice. 267 00:15:29,120 --> 00:15:33,160 Speaker 1: How many iPhones do you reckon these next people could buy? 268 00:15:33,360 --> 00:15:35,960 Speaker 1: How about this story? Big lottery news out of the 269 00:15:36,080 --> 00:15:40,479 Speaker 1: US two lucky players, one in Missouri one in Texas 270 00:15:40,880 --> 00:15:44,960 Speaker 1: have hit the powerball jackpot over there. When we talk 271 00:15:45,000 --> 00:15:48,400 Speaker 1: about powerball in Australia, it's always like eighty million dollars 272 00:15:48,440 --> 00:15:50,600 Speaker 1: or one hundred million dollars. No, no, no, no. In the US, 273 00:15:50,680 --> 00:15:54,880 Speaker 1: this was one point eight billion US. It is a 274 00:15:54,880 --> 00:15:57,400 Speaker 1: heck of a jackpot, the second largest in American history. 275 00:15:57,400 --> 00:15:59,840 Speaker 1: That's two point seventy four billion dollars. 276 00:15:59,720 --> 00:16:05,280 Speaker 2: In the odds of winning this are mind boggling. It's 277 00:16:05,400 --> 00:16:09,360 Speaker 2: one in two hundred and ninety two point two million. 278 00:16:10,600 --> 00:16:14,160 Speaker 2: It's huge. It's a huge number. But I didn't know 279 00:16:14,200 --> 00:16:16,320 Speaker 2: this until I was actually researching this. A little bit 280 00:16:16,320 --> 00:16:20,200 Speaker 2: more is that winners have two options to claim their 281 00:16:20,240 --> 00:16:23,360 Speaker 2: half of the jack box. They can do an annuitized 282 00:16:23,440 --> 00:16:25,600 Speaker 2: prize of eight hundred and ninety three and a half 283 00:16:25,640 --> 00:16:29,160 Speaker 2: million dollars or a lump sum payment a four hundred 284 00:16:29,160 --> 00:16:32,800 Speaker 2: and ten point three million. The annuitized prize would come 285 00:16:32,840 --> 00:16:35,800 Speaker 2: in thirty payments over a twenty nine year span. And 286 00:16:35,840 --> 00:16:39,360 Speaker 2: I actually got really really deep down a black hole 287 00:16:39,400 --> 00:16:43,520 Speaker 2: of the Internet in terms of what people typically tend 288 00:16:43,560 --> 00:16:45,960 Speaker 2: to do, which is the lump sum payment, but the 289 00:16:45,960 --> 00:16:49,360 Speaker 2: fact that actually doing the annual over a twenty nine 290 00:16:49,400 --> 00:16:53,400 Speaker 2: year spank can actually be financially more savvy, can allow 291 00:16:53,440 --> 00:16:55,800 Speaker 2: you to like bounce back from some of the errors 292 00:16:55,800 --> 00:16:58,920 Speaker 2: that you might make early on being a multi millionaire, 293 00:16:59,640 --> 00:17:02,080 Speaker 2: and also dealing with the fame that comes without I got, 294 00:17:02,200 --> 00:17:04,560 Speaker 2: I was so so deep. 295 00:17:05,920 --> 00:17:09,200 Speaker 1: You gom right into our financial advice for lottery winners. 296 00:17:09,200 --> 00:17:11,439 Speaker 1: It's quite a niche category, We're off, but it is. 297 00:17:11,920 --> 00:17:14,600 Speaker 2: But this jackpot. So the reason why the jackpot is 298 00:17:14,640 --> 00:17:18,000 Speaker 2: so large is because it's gone unclaimed for forty one 299 00:17:18,119 --> 00:17:21,200 Speaker 2: drawings over three months. So that's driving the prize higher 300 00:17:21,240 --> 00:17:26,720 Speaker 2: and higher each time. These winners have beaten astronomical odds 301 00:17:27,000 --> 00:17:30,000 Speaker 2: and ended the longest dry spell empowerable history. 302 00:17:30,600 --> 00:17:32,040 Speaker 1: That is a heck of a story, great one to 303 00:17:32,080 --> 00:17:34,480 Speaker 1: finish on. Up next is Fear and Greed Q and A. 304 00:17:34,920 --> 00:17:38,240 Speaker 1: Of course, every Monday, we're joined by Stephen Kocoulis, our 305 00:17:38,320 --> 00:17:41,480 Speaker 1: resident economist for a chat about everything coming up this 306 00:17:41,560 --> 00:17:44,880 Speaker 1: week in the economy, but a closer look at everything 307 00:17:44,920 --> 00:17:48,120 Speaker 1: that took place last week and what we learned about 308 00:17:48,600 --> 00:17:52,440 Speaker 1: what is perhaps caused to be more optimistic now about 309 00:17:52,440 --> 00:17:56,160 Speaker 1: the economy. But we also drill down into immigration, which 310 00:17:56,200 --> 00:17:58,760 Speaker 1: was a big topic last week, and why it matters 311 00:17:58,800 --> 00:18:00,720 Speaker 1: so much to the economy is coming up next to 312 00:18:00,800 --> 00:18:03,440 Speaker 1: the Fear and Greed playlist on your podcast platform or 313 00:18:03,480 --> 00:18:07,760 Speaker 1: at Fearandgreed dot com dot au. Thank you very much, Natalie, 314 00:18:07,760 --> 00:18:10,760 Speaker 1: and with Sean Almer back tomorrow. Thank you very much 315 00:18:10,760 --> 00:18:12,320 Speaker 1: for your company over the last month or so. 316 00:18:12,640 --> 00:18:14,680 Speaker 2: Thank you so much, Michael, it's been a pleasure. 317 00:18:14,880 --> 00:18:17,720 Speaker 1: It is Monday, the eighth of September twenty twenty five. 318 00:18:17,800 --> 00:18:20,000 Speaker 1: Make sure you're following the podcast and please join us 319 00:18:20,000 --> 00:18:23,880 Speaker 1: online on LinkedIn, Instagram, x TikTok and Facebook. Michael Thompson 320 00:18:23,880 --> 00:18:25,680 Speaker 1: and that was Fear and Greed. Have a great day.