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

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Speaker 1: President Donald Trump talks of regime change in Iran as

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Speaker 1: global markets tumble on the back of the US's intervention

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Speaker 1: in the Middle East. Oil and wheat prices soar on

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Speaker 1: the back of the conflict, triggering fears of higher food

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Speaker 1: and petrol prices, and ACDC to play in Australia for

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Speaker 1: the first time in a decade, joining Oasis and Metallica

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Speaker 1: in a very busy month of November. Plus met Cash

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Speaker 1: suffers from a drop in tobacco sales as the black

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Speaker 1: market surgeres and Tesla's robotaxis are launched. It is Tuesday,

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Speaker 1: the twenty fourth of June twenty twenty five. I'm Michael

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Speaker 1: Thompson and good morning Sean Aylmer.

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Speaker 2: Good morning, Michael, great intro.

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Speaker 1: Something for everyone, indeed something for everyone in today's newsletter

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Speaker 1: as well. Shan is sign up at Fearandgreed dot com

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Speaker 1: dot au. I'll put a link in today's show notes

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Speaker 1: as well. And what do you reckon? It's about a

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Speaker 1: three or four minute.

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Speaker 2: Read, Yeah, I think so. And a very mixed newsletter

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Speaker 2: this morning. Plenty of different topics covered.

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Speaker 1: Yeah, in your inbox every morning every weekday morning by

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Speaker 1: six am, so sign up today shown the main story today.

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Speaker 1: US President Donald Trump has raised the possibility of regime

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Speaker 1: change in Iran, hinting that the bombing of nuclear sites

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Speaker 1: over the weekend might just be the beginning.

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Speaker 2: In a run of social media post, the US President

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Speaker 2: hailed the return of the missions B two bombers, said

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Speaker 2: that the damage to Iran's nuclear sites was monumental his word,

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Speaker 2: and floated a scenario where the government in Tehran might collapse.

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Speaker 2: He said, if the current Iranian regime is unable to

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Speaker 2: capital letters here make Iran great again, why wouldn't there

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Speaker 2: be regime change now? Earlier, Trump asserted on tooth social

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Speaker 2: that Iran's nuclear site sustained monumental damage in the American attack,

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Speaker 2: though a US assessment on the strike is still underway.

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Speaker 2: The situation is very volatile, with Iran's next move crucial.

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Speaker 2: Does it keep fighting against his Israel? Does that extend out

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Speaker 2: to the US's nineteen military sites in the Middle East?

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Speaker 2: A lot of uns answered questions. Israeli is continuing its

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Speaker 2: attacks on Iran, targeting military hardware installations. Now. Iranian state

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Speaker 2: media reports that aired fence systems were firing in Tehran's

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Speaker 2: that's Iran's capital, while explosions could be heard in other cities.

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Speaker 1: All right, locally here, Sean. What spend our response to

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Speaker 1: everything that's going on in the Middle East.

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Speaker 2: Well, the Australian government belatedly came out in support of

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Speaker 2: the US strikes on Iran. Remember twenty four hours ago

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Speaker 2: we were saying that they really hadn't committed to that.

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Speaker 2: Well they did yesterday morning. Prime min ast Anthony al

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Speaker 2: but and he said Australia didn't know the attacks ahead

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Speaker 2: of time. He said he hasn't spoken to Donald Trump either.

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Speaker 2: He said the government is deeply concerned about the escalation

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Speaker 2: of the Middle East, but supports the prevention of Iran's

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Speaker 2: access to nuclear weapons. Meanwhile, the federal government said its

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Speaker 2: decision to evacuate its embassy staff in Tehran last week

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Speaker 2: reflects fears that diplomats and staff could be targeted for

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Speaker 2: reprisals from any US attack. Australia, of course, is seen

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Speaker 2: as a friend of America's Foreign Minister Penny Wongs that

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Speaker 2: said the decision to hastily abandon the embassy and relocate

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Speaker 2: operations to Azerbaijan was based on precedent, and that's it.

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Speaker 2: She also released photos of diplomats helping Australians across the

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Speaker 2: border from Iran into Azerbaijan.

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Speaker 1: Michael, Okay, so that's the Australian response, Sean rot about

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Speaker 1: the rest of the world.

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Speaker 2: While many Western nations sided with Washington, China said the

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Speaker 2: US attack had damaged Washington's credibility and Beijing was concerned

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Speaker 2: that the situation may go out of control. Russia's UN

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Speaker 2: ambassador told an emergency meeting of the UN Security Council

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Speaker 2: on the US air strikes that the US had opened

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Speaker 2: a Pandora box Iran. For its part, it says the

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Speaker 2: US decided to destroy diplomacy with its strikes in the

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Speaker 2: country's nuclear program before we get.

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Speaker 1: To market and the impact there. I want to mention

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Speaker 1: today's interview that you've got coming up after the show, Sean.

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Speaker 1: You're speaking with Michael Schubridge, who is the founder and

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Speaker 1: director of defence and security think tank Strategic Analysis Australia,

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Speaker 1: and he's got a really interesting take on all of this.

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Speaker 2: He sure does in some ways. I was sort of

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Speaker 2: reassured after speaking to Michael about it, because we start with,

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Speaker 2: you know, more dangerous today than a week ago. And

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Speaker 2: he said, no, but it's all changed. And then he

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Speaker 2: went and detailed that, and it was I actually found it.

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Speaker 2: I mean, he's so smart, he knows so much about

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Speaker 2: this and actually found it vaguely reassuring.

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Speaker 1: Yeah, I think it just takes a really rational approach,

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Speaker 1: and he's got a fantastic cv in, including working within

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Speaker 1: the intelligence community. So I just I really value his

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Speaker 1: take on all of this. So have a listen to it.

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Speaker 1: It's coming up after the show. Now turning to markets,

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Speaker 1: Sean commodity prices arising, particularly oil and grains, as well

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Speaker 1: as the Middle East conflict really sending shock waves through investors' portfolios.

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Speaker 2: Yes, so commodities were rising before the weekend's attacked by

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Speaker 2: the US, in fact, but they've jumped even further during

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Speaker 2: the past seventy two hours. The Bloomberg Commodity Total Return

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Speaker 2: Index has surged about eight percent in June. It's on

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Speaker 2: track for its strongest month since March twenty twenty two,

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Speaker 2: when Russia's invasion of Ukraine sent energy and crop prices soaring.

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Speaker 2: The index of twenty four major futures markets across energy, metals,

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Speaker 2: and agriculture is at its highest level since September twenty

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Speaker 2: twenty two. The two big murders. Oil prices are up

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Speaker 2: eleven percent last week, raising concerns about a sustained spike

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Speaker 2: in energy costs. The other one, wheat futures are two

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Speaker 2: month high. Part of that's actually poor growing conditions, but

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Speaker 2: also a fear of disruption to supply chains. Soybean corn

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Speaker 2: prices they're also on the rise. The point about that

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Speaker 2: when it's oil and grains, they are things that actually

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Speaker 2: do flow through to people like you and I in

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Speaker 2: higher food costs, higher petrol costs, So this could affect

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Speaker 2: us away from commodities. The turmoils pushed Bitcoin back below

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Speaker 2: one hundred thousand US dollars a unit. The Aussie dollars

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Speaker 2: fallen against greenback. It's buying to stay sixty four US since.

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Speaker 1: Okay, finally sean, Before we move away from this story,

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Speaker 1: the local share market, how did that react to the

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Speaker 1: global instability?

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Speaker 2: Yesterday, the s and PA six two hundred fel to

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Speaker 2: a three week low as markets braced for Tehran's response.

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Speaker 2: By the closed, the SMPA six two hundred was down

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Speaker 2: zero point four percent to eight four seven five points.

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Speaker 2: Traders went for safety, so common Off Bank hit yet

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Speaker 2: another record high yesterday, whereas technology stocks places like Wisteak

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Speaker 2: Global Technology one was sold off. Energy stocks were also

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Speaker 2: high on the back of a jump in Brent prices.

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Speaker 2: A bit of corporate news around probably the pick of it,

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Speaker 2: Australia's highest paid chief executive, Robert Thompson, assigned a five

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Speaker 2: year extension to continue running Rupert Murdock's News Corporation, keeping

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Speaker 2: the former newspaper editor at the helm of the company

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Speaker 2: until the next decade.

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Speaker 1: Okay, massive start to the show today, Sean plenty is

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Speaker 1: still to cover, though we'll be back in a moment

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Speaker 1: with the rest of the day's business news. Sean. We're

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Speaker 1: still about six weeks from earning season. But grocery wholesale Metcash,

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Speaker 1: which has an end of April balance DAID yesterday announced

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Speaker 1: a strong half year in its food business, but interestingly

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Speaker 1: reported a twenty percent drop in tobacco sales as a

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Speaker 1: legal trade continued to rise.

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Speaker 2: Revenue in the retail conglomerates core food business was up

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Speaker 2: eleven percent in the year to April thirty pretty good,

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Speaker 2: earning screw eighteen percent. Share price is up three percent.

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Speaker 2: That's all the good news. However, a big jump in

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Speaker 2: black market sales of tobacco has hit IgA. Tobacco sales

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Speaker 2: at the group have fallen more than forty percent since

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Speaker 2: twenty twenty one. Apparently you can buy a pack of

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Speaker 2: cigarettes for around fifteen to twenty dollars on the black market. Now,

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Speaker 2: I to be honest with Mike, I have no idea

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Speaker 2: how much for fifty dollars and a supermarket.

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Speaker 1: I'm guessing the probably probably more than that, to be honest.

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Speaker 2: Right, So let's say it's fifty bus first twenty bucks.

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Speaker 2: I means no wonder that they're losing sales. Chief executive

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Speaker 2: Doug Jones said it's independent retail network was competing well

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Speaker 2: with its two large rivals, Coles and Woollies.

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Speaker 1: Network Ten has done a deal with Spotify to broadcast

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Speaker 1: its new evening news and current affairs bullets and each

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Speaker 1: day within minutes of it going to wear on the

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Speaker 1: main channel of the station.

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Speaker 2: So ten has struggled in news and current affairs for many,

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Speaker 2: many years behind seven and nine, the project which it

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Speaker 2: dumped recently. It ran for sixteen years forty five hundred episodes.

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Speaker 2: It it filled the gap, but wasn't really competing. It's

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Speaker 2: got a new show ten News, plus an hour long

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Speaker 2: podcast and video each day. It'll also broadcast life on YouTube.

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Speaker 2: The deal is that it air is on free Toware,

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Speaker 2: then goes directly on Spotify to be available on demand

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Speaker 2: as a video podcast. Now this ten years plus ten

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Speaker 2: Network ten calls it an in depth news, current affairs

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Speaker 2: insights program. What it does demonstrate is the creative ways

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Speaker 2: free to wear guys are trying to get their content

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Speaker 2: out to the world.

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Speaker 1: Yeah, that is a very different approach. Really interesting stuff. Now,

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Speaker 1: Homewares and furniture retailer a daars share price shown this

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Speaker 1: is one of your favorites tumble twenty one percent after

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Speaker 1: it warned that full year earnings would come in below

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Speaker 1: last year's.

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Speaker 2: Yes, not a good story for a days. The retailer

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Speaker 2: said a stronger promotional activity had boosted sales but also

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Speaker 2: dented margins, not helping a weaker Aussie dollar.

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Speaker 1: Well, moving on, Sean from ades and cushions and pillows

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Speaker 1: and linen to ac DC, which is a natural segue

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Speaker 1: if ever I've heard one. Of course, ACDC, the biggest

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Speaker 1: selling Australian band of all time, will play their first

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Speaker 1: local shows in a decade this November, joining other mega

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Speaker 1: groups Metallica and Oasis playing in the country in that month.

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Speaker 2: What a month.

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Speaker 1: Huh, what a month?

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Speaker 2: How many shows are you going to? Going to all three? ACDC, Metallica,

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Speaker 2: an Oasis.

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Speaker 1: Look, I would love to, but I unfortunately I think

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Speaker 1: I've got something on all of those nights.

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Speaker 2: All those other well, I am actually going to Oasis.

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Speaker 2: I would love to go to Metallica. I think that

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Speaker 2: would be a true experience. Probably ACDC too. Barry Gibb

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Speaker 2: was out and I'm just ignoring that. Tickets to the

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Speaker 2: ACDC Power Up Tour, which takes place in four state

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Speaker 2: capitol stadiums closes Adelaide's Grand Final street racing event a

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Speaker 2: November thirty, go on sale later in the week. We

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Speaker 2: are not here to promote ac DC, but what a

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Speaker 2: phenomenal band. They've sold two hundred million albums worldwide. Formed

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Speaker 2: in Sydney in nineteen seventy three, they still attract thirty

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Speaker 2: two million listeners a month on Spotify. According to the

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Speaker 2: fin Review, the three hundred thousand plus tickets available for

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Speaker 2: acdc's five shows are likely to sell out almost immediately,

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Speaker 2: so when paraps European League went on sale last year.

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Speaker 2: One point seven million of the two million tickets were

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Speaker 2: gone in a day. Phenomenal November now has ACDC, Oasis

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Speaker 2: and Metallica playing ACDC, Like are they still going so?

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Speaker 2: Lead guitarist singers young, He's seventy. He's the sole remaining

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Speaker 2: original member. Brian Johnson, better known nowadays for sort of

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Speaker 2: streaming interviews with famous people. He's been with the band

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Speaker 2: for forty five years. I think we can call him

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Speaker 2: an almost original.

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Speaker 1: Yeah, almost yes, turn into international news now Sean and

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Speaker 1: Tenesla's robo taxi service, touted by Elon Muskers the future

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Speaker 1: of his somewhat flagging electric car maker, launched in the

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Speaker 1: company's home city of Austin over the weekend with about

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Speaker 1: ten vehicles and a human safety driver on board. Amid

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Speaker 1: regulatory scrutiny of the self driving technology.

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Speaker 2: Chares and Tesla have risen about fifty percent from this

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Speaker 2: year's low in early April, with investors hopeful the autoomous

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Speaker 2: ride haling service will help revive the company. Despite the

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Speaker 2: hype surrounding Tesla's robo taxi, the launch with a company

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Speaker 2: employee seated in the passenger side for safety while leaving

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Speaker 2: the driver's seat empty, was low key, and the initial

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Speaker 2: service was open only to a select group of social

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Speaker 2: media influencers. According to the Ft, shortly before the lunch,

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Speaker 2: the launch more than like a launch Michael. Shortly before

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Speaker 2: the launch, Musk said on social media that the robo

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Speaker 2: taxi service would begin with customers paying a four dollar

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Speaker 2: twenty flat fee. According to Mask, who stepped back, of course,

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Speaker 2: from his US government role to focus on the electric

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Speaker 2: car maker and the robo taxi, the self driving Tesla

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Speaker 2: model Y vehicles will only operate in limited areas, avoid

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Speaker 2: challenging intersections, and have teleoperators who can intervene if problems arise.

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Speaker 1: I dotn't know about this, Sean. I'm excited about the

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Speaker 1: idea of a taxi driving itself, But who is supposed

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Speaker 1: to be conversation with. Who are supposed to get in

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Speaker 1: and say how's your night been too? And then when

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Speaker 1: you're getting close to your destination, who are you supposed

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Speaker 1: to say? Just anywhere here's fine, thanks.

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Speaker 2: Not that way, not that way?

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Speaker 1: Yeah yeah, yeah, yeah, No. They know a shortcut, Sean.

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Speaker 1: It's going to be faster and it'll save ten dollars

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Speaker 1: off your fare anyway, let's move on Sean. Up next

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Speaker 1: is the Fear and Greed Daily Interview with Michael Schubridge

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Speaker 1: from Strategic Analysis Australia. And also, if you've got a

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Speaker 1: couple of minutes, why not follow the link in today's

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Speaker 1: show notes to the survey that we are running. We

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Speaker 1: want to find out more about the Fear and Greed community,

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Speaker 1: what you like about the podcast, what you think we

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Speaker 1: could improve on, basically anything at all that you think

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Speaker 1: that might be able to help us. Give you exactly

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Speaker 1: what you would like to hear on this show. And

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Speaker 1: if you follow that link and do it before the

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Speaker 1: end of June, you will be in the running twin

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Speaker 1: a three thousand dollars luxury escapes about you. So that's

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Speaker 1: a pretty awesome prize. Thanks very much.

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Speaker 2: Sure, thank you, Michael.

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Speaker 1: It is Tuesday, the twenty fourth of June twenty twenty five.

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Speaker 1: Make sure you're following the podcast and please join us

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Speaker 1: online on LinkedIn, Instagram, x TikTok and Facebook. I'm Michael

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Speaker 1: Thompson and Atmosphere and Greed. Have a great day.