1 00:00:06,400 --> 00:00:10,039 Speaker 1: Telstra ups the prices of its mobile phone plans, highlighting 2 00:00:10,080 --> 00:00:13,440 Speaker 1: the challenge the Reserve Bank has in getting inflation lower. 3 00:00:13,920 --> 00:00:18,279 Speaker 1: Australia takes on Chinese government backed hackers, and x is 4 00:00:18,400 --> 00:00:22,200 Speaker 1: losing ground to Facebook's threads. Welcome to Fear and Greed. 5 00:00:22,280 --> 00:00:24,600 Speaker 1: Daily business news for people who make their own decisions. 6 00:00:24,640 --> 00:00:27,520 Speaker 1: It is Wednesday, the tenth of July twenty twenty four. 7 00:00:27,800 --> 00:00:29,960 Speaker 1: Are Michael Thompson and Good Morning, Sean, Aylmer. 8 00:00:30,440 --> 00:00:32,240 Speaker 2: Good morning Michael, Sean. 9 00:00:32,320 --> 00:00:35,840 Speaker 1: The main story this morning. Telstra has upped the prices 10 00:00:35,840 --> 00:00:39,839 Speaker 1: of its mobile phone plans, including its cheaper Boost brand, 11 00:00:39,960 --> 00:00:42,959 Speaker 1: a move which sent the telco's share price higher yesterday. 12 00:00:43,400 --> 00:00:46,280 Speaker 2: Telstra is up its mobile plans in line with inflation 13 00:00:46,360 --> 00:00:48,320 Speaker 2: over the past couple of years, but this time around 14 00:00:48,400 --> 00:00:52,519 Speaker 2: the increases are higher, with monthly postpaid plans rising from 15 00:00:52,640 --> 00:00:56,480 Speaker 2: late next month. Prepaid plans will change on October twenty two. 16 00:00:56,840 --> 00:00:59,480 Speaker 2: The telca said it needed to up prices to invest 17 00:00:59,480 --> 00:01:03,360 Speaker 2: in technology and its network. Now, basic post paid plans 18 00:01:03,360 --> 00:01:06,760 Speaker 2: with fifty gigabytes of data will rise by about five percent, 19 00:01:06,959 --> 00:01:11,480 Speaker 2: Premium plans will jump four percent. Prepaid plans that's where 20 00:01:11,480 --> 00:01:14,200 Speaker 2: the prices are really hooking in here theyll arise six 21 00:01:14,240 --> 00:01:16,760 Speaker 2: to seven percent, while long term plans are being priced 22 00:01:16,880 --> 00:01:21,200 Speaker 2: much more aggressively nine to twelve cent increases. Telstra's competitors 23 00:01:21,200 --> 00:01:24,120 Speaker 2: have put up prices this year. Votophone lifted costs by 24 00:01:24,160 --> 00:01:27,080 Speaker 2: between six to nine percent earlier in the year. Optus 25 00:01:27,160 --> 00:01:31,720 Speaker 2: raised some prices by five to six percent in May. Hence, 26 00:01:31,840 --> 00:01:35,119 Speaker 2: all the major telco providers at least are upping prices. 27 00:01:35,440 --> 00:01:39,039 Speaker 2: Investors like the idea. Yesterday, Telstra's share price finished up 28 00:01:39,080 --> 00:01:40,120 Speaker 2: two point two percent. 29 00:01:40,760 --> 00:01:43,360 Speaker 1: Yeah, I suppose on on Telstra's share price Seawan. While 30 00:01:43,400 --> 00:01:47,200 Speaker 1: customers might not like the higher prices, Telstra it clearly 31 00:01:47,240 --> 00:01:50,840 Speaker 1: seems keen to restore profit margins, something that I imagine 32 00:01:50,840 --> 00:01:52,040 Speaker 1: shareholders would agree with. 33 00:01:52,520 --> 00:01:55,480 Speaker 2: Remember back in May, Telstra outlined twenty eight hundred job cuts, 34 00:01:55,520 --> 00:01:58,000 Speaker 2: or nearly ten percent of its workforce. Now, the telca 35 00:01:58,080 --> 00:02:00,160 Speaker 2: is looking to lower costs, but it still has to 36 00:02:00,240 --> 00:02:03,680 Speaker 2: invest in technology, including its network, and that is very, 37 00:02:03,760 --> 00:02:07,320 Speaker 2: very expensive. It's been hurting the telco's bottom line. Telstra's 38 00:02:07,320 --> 00:02:10,320 Speaker 2: one point three million shareholders really haven't had a good 39 00:02:10,320 --> 00:02:13,120 Speaker 2: time of it recently. Even after yesterday's jump in the 40 00:02:13,120 --> 00:02:16,720 Speaker 2: share price, it's off eleven percent over the past twelve months. 41 00:02:16,760 --> 00:02:19,720 Speaker 2: So the decision to not just cut costs but to 42 00:02:19,800 --> 00:02:25,000 Speaker 2: boost revenue alongside that cost cutting is one shareholders like 43 00:02:25,160 --> 00:02:28,160 Speaker 2: to hear. There's also a bit of an economic insight here. 44 00:02:28,200 --> 00:02:32,560 Speaker 2: We regularly talk about services inflation not coming down fast enough. Michael, 45 00:02:32,560 --> 00:02:35,760 Speaker 2: this is a great example of a service where prices 46 00:02:35,800 --> 00:02:40,320 Speaker 2: are running well above overall inflation. Look at Telstra, Optus 47 00:02:40,400 --> 00:02:44,600 Speaker 2: and Vodafone. All the price hikes are higher than inflation. 48 00:02:45,040 --> 00:02:48,160 Speaker 2: They're all services inflation. It's just it's also not a 49 00:02:48,160 --> 00:02:50,560 Speaker 2: bad test of competition in the market. If you don't 50 00:02:50,600 --> 00:02:53,960 Speaker 2: like the fact that Telstra is increasing prices, change providers. 51 00:02:54,040 --> 00:02:56,640 Speaker 2: I wonder whether that'll happen. It is pretty easy to 52 00:02:56,680 --> 00:02:58,960 Speaker 2: do because you can import your number, of course, so 53 00:02:58,960 --> 00:03:03,080 Speaker 2: there's a risk for Telstra that people will actually shift, 54 00:03:03,639 --> 00:03:06,799 Speaker 2: but given that Vodaphone and Optors have also upper prices, 55 00:03:07,000 --> 00:03:08,640 Speaker 2: it's probably not a huge risk. 56 00:03:09,120 --> 00:03:13,040 Speaker 1: Now, Sean, Today is of course Wednesday, which is newsletter day, 57 00:03:13,080 --> 00:03:16,799 Speaker 1: Fear and Green newsletter Today. It comes out today mid morning, 58 00:03:16,919 --> 00:03:18,640 Speaker 1: kind of ten thirty eleven. 59 00:03:18,360 --> 00:03:20,040 Speaker 2: O'clock, ten thirty eleven. 60 00:03:20,120 --> 00:03:24,040 Speaker 1: Yeah, yeah, around there. I'm gonna take a bit of 61 00:03:24,080 --> 00:03:26,560 Speaker 1: a punt here and say that you may be sharing 62 00:03:26,600 --> 00:03:27,959 Speaker 1: your views on Telstra. 63 00:03:28,720 --> 00:03:31,680 Speaker 2: Yeah, I think that's fair enough. I've got to say, 64 00:03:31,720 --> 00:03:33,760 Speaker 2: because I pay for a bunch of the kids phones 65 00:03:33,840 --> 00:03:37,920 Speaker 2: and my own, I'm a I'm what would I say? 66 00:03:37,960 --> 00:03:43,520 Speaker 2: I'm a fickle user of mobile plans. I can say 67 00:03:43,600 --> 00:03:48,160 Speaker 2: I have at least four mobile providers that I use, 68 00:03:48,400 --> 00:03:51,800 Speaker 2: and when all this happened yesterday, it just made me 69 00:03:51,800 --> 00:03:55,320 Speaker 2: stop and compare plans. I started getting quite angry. Anyway. 70 00:03:55,800 --> 00:03:57,600 Speaker 2: At that point I started writing. 71 00:03:57,680 --> 00:04:02,160 Speaker 1: Oh fantastic. You let the the the anger flow into 72 00:04:02,200 --> 00:04:04,560 Speaker 1: the pen, Sean, and onto the page, or into the 73 00:04:04,640 --> 00:04:08,119 Speaker 1: keyboard and onto the newsletter. In this particular case, head 74 00:04:08,120 --> 00:04:11,040 Speaker 1: along to Fearangreed dot com dot au and put your 75 00:04:11,040 --> 00:04:13,600 Speaker 1: email address in sign up for the free weekly newsletter. 76 00:04:13,920 --> 00:04:16,960 Speaker 1: Because the show itself, this podcast is all about the news. 77 00:04:17,240 --> 00:04:19,800 Speaker 1: The newsletter is all about Sean's views and it is 78 00:04:19,880 --> 00:04:23,200 Speaker 1: great additional context, kind of a bit of opinion, great information. 79 00:04:23,440 --> 00:04:25,599 Speaker 1: It's taken off in the last few weeks. We'll be 80 00:04:25,600 --> 00:04:28,719 Speaker 1: getting great feedback about it. So sign up today, get 81 00:04:28,760 --> 00:04:31,960 Speaker 1: on board before it's too late. Sean, moving on local markets, 82 00:04:32,000 --> 00:04:33,120 Speaker 1: how do they perform Yesterday? 83 00:04:33,480 --> 00:04:36,080 Speaker 2: There's in. PASX two hundred closed up nearly one percent 84 00:04:36,120 --> 00:04:39,800 Speaker 2: to seven and thirty points, more than reversing Monday's tumble. 85 00:04:39,839 --> 00:04:42,359 Speaker 2: The Telco index was best on the day thanks to 86 00:04:42,480 --> 00:04:44,799 Speaker 2: that two point two percent jump in Telstra's share price. 87 00:04:45,120 --> 00:04:47,440 Speaker 2: The financials also did well. Westpac and A and Z 88 00:04:47,560 --> 00:04:49,880 Speaker 2: We're both up more than two percent. Comwealth and National 89 00:04:49,920 --> 00:04:52,719 Speaker 2: Australia Bank rose around one and a half percent. Other 90 00:04:52,839 --> 00:04:57,840 Speaker 2: strong large cap performers include Wistech, Global, Aristocrat, Leisure, Ria Group, 91 00:04:57,920 --> 00:05:02,240 Speaker 2: Santos and CSL. One performers include mcquarie Group, Goodman and 92 00:05:02,279 --> 00:05:05,200 Speaker 2: Woodside Energy. Best in the day was Insignia, the wealth 93 00:05:05,240 --> 00:05:09,480 Speaker 2: manager formerly known as IF. It jumped fourteen percent after 94 00:05:09,520 --> 00:05:12,479 Speaker 2: a media report suggested investment bank City had been called 95 00:05:12,520 --> 00:05:17,039 Speaker 2: in to look at merger activity. Insignia denied that, but 96 00:05:17,080 --> 00:05:18,960 Speaker 2: its share price was still up fourteen percent. 97 00:05:19,240 --> 00:05:21,200 Speaker 1: Goodness, Now, what about international markets? 98 00:05:21,640 --> 00:05:24,600 Speaker 2: On Wall Street? The broad based SMP five hundred set 99 00:05:24,680 --> 00:05:28,599 Speaker 2: its thirty fifth record close yesterday morning, while the tech 100 00:05:28,680 --> 00:05:32,000 Speaker 2: based nas that Composite was also higher. Apple jumped at 101 00:05:32,080 --> 00:05:35,080 Speaker 2: zero point seven percent to lift its market cap to 102 00:05:35,200 --> 00:05:40,200 Speaker 2: three point four to nine trillion US dollars. Microsoft slipped 103 00:05:40,400 --> 00:05:42,920 Speaker 2: zero point three percent, pushing it to the number two 104 00:05:42,960 --> 00:05:47,480 Speaker 2: slot worth three point four seven trillion US dollars, and 105 00:05:47,640 --> 00:05:50,200 Speaker 2: Vidia rallied almost two percent. It's worth just a mere 106 00:05:50,279 --> 00:05:53,240 Speaker 2: three point one five trillion US dollars, nothing like Apple 107 00:05:53,320 --> 00:05:53,960 Speaker 2: or Microsoft. 108 00:05:54,000 --> 00:05:55,240 Speaker 1: Really, it's a minnow. 109 00:05:55,480 --> 00:05:58,360 Speaker 2: It is. Yeah, the poor cousin in commodity market, sprent 110 00:05:58,400 --> 00:06:00,920 Speaker 2: oils down below eighty six US dollars a barrel, while 111 00:06:00,960 --> 00:06:04,480 Speaker 2: gold continues its slow climb. It's fetching around twenty three 112 00:06:04,440 --> 00:06:06,600 Speaker 2: to sixty US dollars an ounce. The Aussie dollar has 113 00:06:06,640 --> 00:06:08,440 Speaker 2: held onto the ground it made earlier in the week. 114 00:06:08,600 --> 00:06:11,400 Speaker 2: It's trading around sixty seven and a half US sense. 115 00:06:11,960 --> 00:06:14,400 Speaker 1: And on that subject, Sean, you have an interview coming 116 00:06:14,440 --> 00:06:17,680 Speaker 1: up today. It's a great chat with NAB's head of 117 00:06:17,880 --> 00:06:19,400 Speaker 1: FX strategy, Raateral. 118 00:06:20,000 --> 00:06:22,760 Speaker 2: I sure do we ask him all about what's happening 119 00:06:22,760 --> 00:06:24,880 Speaker 2: to the Aussie dob not just where it's going, what 120 00:06:24,920 --> 00:06:27,000 Speaker 2: he thinks will happen, and he thinks it will appreciate 121 00:06:27,000 --> 00:06:30,119 Speaker 2: against the US dollar, but why? And we talk about 122 00:06:30,120 --> 00:06:33,280 Speaker 2: the short term issues, which is very much about interest 123 00:06:33,360 --> 00:06:37,520 Speaker 2: rates and interesstrate expectations, also the long term issues that 124 00:06:37,600 --> 00:06:40,719 Speaker 2: push for currency and a lot of that is commodity prices. 125 00:06:40,720 --> 00:06:42,560 Speaker 2: But he had some really interesting things to say about 126 00:06:42,560 --> 00:06:45,200 Speaker 2: what's happened in the last couple of years, how the 127 00:06:45,320 --> 00:06:49,200 Speaker 2: link between commodity prices and the Aussie dollar has shifted, 128 00:06:49,560 --> 00:06:53,239 Speaker 2: and why that's the case. It's a really interesting lesson 129 00:06:53,400 --> 00:06:58,120 Speaker 2: about the currency and its impact on kind of what 130 00:06:58,160 --> 00:07:00,920 Speaker 2: impacts it and how it is packs other things. 131 00:07:01,400 --> 00:07:03,560 Speaker 1: Yeah, it is a good chat. It is a must 132 00:07:03,600 --> 00:07:06,440 Speaker 1: listen today, Sean it is coming listen, a must listen. 133 00:07:06,440 --> 00:07:08,839 Speaker 1: It is coming up after the show. Stick around for 134 00:07:08,839 --> 00:07:10,280 Speaker 1: that one. We will be back in a moment with 135 00:07:10,320 --> 00:07:20,880 Speaker 1: the rest of the day's business news. Sean Australia, backed 136 00:07:20,920 --> 00:07:24,920 Speaker 1: by allies the US, UK, Japan, Canada and New Zealand, 137 00:07:25,440 --> 00:07:29,760 Speaker 1: has accused a Chinese state backed cyber group called APT 138 00:07:30,040 --> 00:07:34,920 Speaker 1: forty of repeatedly targeting government and private sector networks. 139 00:07:35,440 --> 00:07:38,400 Speaker 2: The naming and detailing of actions of the group APT 140 00:07:38,680 --> 00:07:43,760 Speaker 2: forty by the Australian Signals Directorate is unprecedented, and of 141 00:07:43,800 --> 00:07:46,800 Speaker 2: course it comes just a month after China's premier visit 142 00:07:46,840 --> 00:07:50,800 Speaker 2: Australia and as relations between the two countries improve. The 143 00:07:50,880 --> 00:07:53,960 Speaker 2: statement was backed by the Five Eyes countries. They're the 144 00:07:53,960 --> 00:07:56,760 Speaker 2: ones you mentioned the US, UK, Japan, Canada and New 145 00:07:56,880 --> 00:08:00,840 Speaker 2: Zealand also on the statement, with German in South Korea 146 00:08:00,960 --> 00:08:05,080 Speaker 2: and Japan. APT forty is backed by the Chinese government. 147 00:08:05,240 --> 00:08:09,320 Speaker 2: It regularly targets organizations in various countries, and the Intelligence 148 00:08:09,400 --> 00:08:12,760 Speaker 2: Alliance believes other countries are at risk of the same 149 00:08:12,880 --> 00:08:16,800 Speaker 2: security threats. The Group of Nations said APT forty is 150 00:08:16,880 --> 00:08:21,440 Speaker 2: actively conducting regular reconnaissance against networks of interest in Australia, 151 00:08:21,520 --> 00:08:24,840 Speaker 2: looking for opportunities to compromise its targets. Now the group 152 00:08:25,120 --> 00:08:29,880 Speaker 2: uses compromised devices, including its not even big business necessarily 153 00:08:29,960 --> 00:08:32,080 Speaker 2: might be a small office or a home office device. 154 00:08:32,400 --> 00:08:35,160 Speaker 2: They then launched an attack that blends in with legitimate 155 00:08:35,160 --> 00:08:39,240 Speaker 2: traffic and challenges network defenders. Pretty amazing though, that we 156 00:08:39,280 --> 00:08:41,560 Speaker 2: are being so vocal, were as in Australia are being 157 00:08:41,559 --> 00:08:44,760 Speaker 2: so vocal against this state backed cyber group. 158 00:08:45,120 --> 00:08:47,960 Speaker 1: Prime Minister Anthony Abernezi said the one hundred and three 159 00:08:48,000 --> 00:08:51,280 Speaker 1: members of his caucus are all on exactly the same 160 00:08:51,400 --> 00:08:53,920 Speaker 1: page about issues on the war in Gaza. 161 00:08:54,000 --> 00:08:56,320 Speaker 2: The conflict in the Middle East has been a treacherous 162 00:08:56,320 --> 00:08:59,160 Speaker 2: issue to navigate for the Labor Party, as demonstrated by 163 00:08:59,160 --> 00:09:02,400 Speaker 2: Senator Fatimah Payman, leaving the party last week to sit 164 00:09:02,480 --> 00:09:06,000 Speaker 2: as an independent. Mister Alberinezi said the caucus allows a 165 00:09:06,120 --> 00:09:08,480 Speaker 2: range of debates on all sorts of issues and common 166 00:09:08,559 --> 00:09:11,040 Speaker 2: positions are worked through. He went on to say that 167 00:09:11,080 --> 00:09:13,720 Speaker 2: the Labour Party's position of support for the state of 168 00:09:13,960 --> 00:09:17,839 Speaker 2: Israel and support for two state solution with Palestinians being 169 00:09:17,880 --> 00:09:21,520 Speaker 2: able to realize their legitimate aspirations for their own state 170 00:09:21,880 --> 00:09:24,640 Speaker 2: side by side with Israel, has been part of Labour's 171 00:09:24,640 --> 00:09:28,040 Speaker 2: platform for a long period. He was speaking after appointing 172 00:09:28,240 --> 00:09:32,320 Speaker 2: Gillian Siegel as the government's new Special Envoy to combat 173 00:09:32,440 --> 00:09:35,280 Speaker 2: anti Semitism. He also plans to name a new special 174 00:09:35,440 --> 00:09:38,920 Speaker 2: Envoy to combat Islamophobia in coming days. 175 00:09:39,920 --> 00:09:43,120 Speaker 1: Shown the Stage three tax cuts didn't give consumers much 176 00:09:43,120 --> 00:09:47,360 Speaker 1: more confidence, with sentiment falling again this month, particularly among 177 00:09:47,400 --> 00:09:48,560 Speaker 1: middle income earners. 178 00:09:48,760 --> 00:09:52,199 Speaker 2: The west Pac Melbourne Institute Consumer Sentiment survey for July 179 00:09:52,480 --> 00:09:56,120 Speaker 2: shows people are stuck in a deeply pessimistic mood. Not 180 00:09:56,240 --> 00:09:59,640 Speaker 2: helping is a big jump in rate rise expectations. In fact, 181 00:09:59,679 --> 00:10:03,640 Speaker 2: three five sixty percent now expect higher rates. The survey 182 00:10:03,760 --> 00:10:06,960 Speaker 2: show's family finances are under pressure, while the Stage three 183 00:10:07,200 --> 00:10:10,880 Speaker 2: tax cuts, alongside other July one, measures have done little 184 00:10:10,960 --> 00:10:13,439 Speaker 2: to boost the mood now. Having said that, wes Pack 185 00:10:13,559 --> 00:10:16,080 Speaker 2: points out that many people wouldn't have received extra money 186 00:10:16,120 --> 00:10:18,640 Speaker 2: in their pocket when the survey was done. There was 187 00:10:18,720 --> 00:10:21,840 Speaker 2: some good news. The Michael consumers are less pessimistic about 188 00:10:21,840 --> 00:10:23,000 Speaker 2: the economic outlook. 189 00:10:23,480 --> 00:10:27,000 Speaker 1: Retailer Babcoorp, which owned Auto Barn, has rejected a one 190 00:10:27,080 --> 00:10:30,640 Speaker 1: point eight billion dollar takeover offer from bayin Capital, saying 191 00:10:30,720 --> 00:10:32,800 Speaker 1: the price didn't represent fair value. 192 00:10:32,840 --> 00:10:35,800 Speaker 2: The group also appointed a new CEO who's currently running 193 00:10:35,800 --> 00:10:38,160 Speaker 2: seven eleven in Australia. In a statement, the board of 194 00:10:38,200 --> 00:10:41,160 Speaker 2: Babcourt said it had considered the Bay proposal in the 195 00:10:41,160 --> 00:10:44,200 Speaker 2: outlook for the company and decided the five dollars forty 196 00:10:44,600 --> 00:10:47,760 Speaker 2: share offer was too low. After initially falling on the news, 197 00:10:47,760 --> 00:10:51,160 Speaker 2: Babcorp's share price closed flat at five dollars and six cents. 198 00:10:51,520 --> 00:10:55,400 Speaker 2: It doesn't necessarily mean the deals off the table. Analysts 199 00:10:55,440 --> 00:10:58,840 Speaker 2: thought the initial bid from Bain was fairly opportunistic. In fact, 200 00:10:58,840 --> 00:11:01,760 Speaker 2: the bid was about that five dollars forty bid was 201 00:11:01,760 --> 00:11:06,040 Speaker 2: about twenty four percent below babcour's peak in September last year. 202 00:11:07,040 --> 00:11:10,120 Speaker 2: It really felt hard before and the actual bid in 203 00:11:10,120 --> 00:11:12,160 Speaker 2: the end was about twenty three percent above where it 204 00:11:12,200 --> 00:11:14,640 Speaker 2: had been trading when the bid was made a few 205 00:11:14,679 --> 00:11:17,720 Speaker 2: weeks back. The point there is that the board obviously 206 00:11:17,800 --> 00:11:21,719 Speaker 2: thinks it was undervalued at the lower price. So I reckon, 207 00:11:21,760 --> 00:11:24,160 Speaker 2: We're going to hear more about this one, Sean. 208 00:11:24,160 --> 00:11:26,600 Speaker 1: This next one is an interesting one. Exchange traded funds 209 00:11:26,679 --> 00:11:30,680 Speaker 1: or ETFs are attracting a big chunk of investor inflows, 210 00:11:30,720 --> 00:11:35,000 Speaker 1: with the market now worth more than two hundred billion dollars. 211 00:11:35,200 --> 00:11:37,640 Speaker 2: First, I'd like to say all the stories are interesting, Michael, 212 00:11:37,880 --> 00:11:38,600 Speaker 2: not to said. 213 00:11:38,480 --> 00:11:41,079 Speaker 1: I didn't mean to kind of single this one out 214 00:11:41,120 --> 00:11:42,679 Speaker 1: as being particularly interesting. 215 00:11:42,760 --> 00:11:45,320 Speaker 2: I'm just showing your bias towards investing here. 216 00:11:45,800 --> 00:11:48,679 Speaker 1: No. No, I certainly am not, and I didn't mean 217 00:11:48,720 --> 00:11:51,120 Speaker 1: to do that. You know what, Sean, what Michael, I'm 218 00:11:51,160 --> 00:11:53,720 Speaker 1: not going to cast judgment on any stories now. I'm 219 00:11:53,720 --> 00:11:56,800 Speaker 1: just going to just introduce them without my own opinion. 220 00:11:57,920 --> 00:12:03,000 Speaker 2: Exchange at Last Australian ETF assets under management jumped fifteen 221 00:12:03,040 --> 00:12:05,520 Speaker 2: percent over the first six months of this year, following 222 00:12:05,679 --> 00:12:09,559 Speaker 2: solid gains on global equity markets also stronger investor flows. 223 00:12:09,920 --> 00:12:15,320 Speaker 2: The two hundred billion dollar value of ETFs now compares 224 00:12:15,320 --> 00:12:16,920 Speaker 2: to one hundred and seventy eight billion dollars at the 225 00:12:16,960 --> 00:12:20,360 Speaker 2: start of the year. According to Vanguard, Australian ETF assets 226 00:12:20,400 --> 00:12:22,560 Speaker 2: raised by around twenty five billion dollars from the start 227 00:12:22,600 --> 00:12:25,360 Speaker 2: of January to the end of June. About forty percent 228 00:12:25,360 --> 00:12:28,720 Speaker 2: of that reflects new capital, while the rest is mostly 229 00:12:28,760 --> 00:12:32,360 Speaker 2: about market returns. About half the inflows went into ASX 230 00:12:32,400 --> 00:12:36,080 Speaker 2: listed international equity ETFs, so people want to invest in 231 00:12:36,080 --> 00:12:40,679 Speaker 2: international equities, they're using ASEX listed ETFs to do that. 232 00:12:41,080 --> 00:12:43,240 Speaker 2: Another key theme over the last six months or so 233 00:12:43,400 --> 00:12:47,760 Speaker 2: was the Surgeon listings of active ETF and managed fund products. 234 00:12:48,080 --> 00:12:51,520 Speaker 2: Out of the forty one new ASEX ETF listings in total, 235 00:12:51,720 --> 00:12:54,280 Speaker 2: sixty eight percent were actively managed funds. 236 00:12:54,840 --> 00:12:57,720 Speaker 1: I know I said I wouldn't pass judgment on any stories, 237 00:12:58,000 --> 00:13:00,480 Speaker 1: but this next one, Sean, I think is a it's 238 00:13:00,520 --> 00:13:01,640 Speaker 1: a good story. 239 00:13:01,320 --> 00:13:02,720 Speaker 2: And you have to Michael. 240 00:13:03,240 --> 00:13:05,240 Speaker 1: It is one that is close to my heart because 241 00:13:05,240 --> 00:13:08,679 Speaker 1: I worked on this show for some time with Ray Hadley. 242 00:13:08,960 --> 00:13:12,120 Speaker 1: The Sydney talkback King has won his one hundred and 243 00:13:12,120 --> 00:13:18,000 Speaker 1: fifty eighth consecutive radio ratings. That is twenty years now 244 00:13:18,400 --> 00:13:21,040 Speaker 1: on top, twenty years after he won his first victory 245 00:13:21,080 --> 00:13:23,760 Speaker 1: two decades as number one that's pretty impressive. 246 00:13:24,559 --> 00:13:27,520 Speaker 2: What's he like to work with, Michael Ray Hadley great. 247 00:13:28,559 --> 00:13:31,600 Speaker 1: The thing is, I worked on that show for eight years, 248 00:13:32,520 --> 00:13:37,959 Speaker 1: and I learned so much on that program because it's 249 00:13:39,120 --> 00:13:43,120 Speaker 1: such an extraordinary environment to be in where you can 250 00:13:43,240 --> 00:13:46,640 Speaker 1: essentially go to go to air having done a whole 251 00:13:46,679 --> 00:13:50,199 Speaker 1: lot of work, prepared a whole lot of content, and 252 00:13:50,679 --> 00:13:52,400 Speaker 1: we were all in there from about kind of four 253 00:13:52,600 --> 00:13:54,480 Speaker 1: thirty five o'clock in the morning, and Ray would come 254 00:13:54,480 --> 00:13:55,840 Speaker 1: on air at nine, and Ray would be there at 255 00:13:55,840 --> 00:13:58,000 Speaker 1: the same time as we were in the morning, and 256 00:13:58,040 --> 00:14:02,640 Speaker 1: you would be working and re writing and organizing things, 257 00:14:02,840 --> 00:14:06,280 Speaker 1: and you would go on at nine o'clock and everything 258 00:14:06,320 --> 00:14:08,840 Speaker 1: could change in an instant and all of a sudden, 259 00:14:09,120 --> 00:14:12,959 Speaker 1: it is following breaking news, just a single call from 260 00:14:13,000 --> 00:14:17,400 Speaker 1: a listener can change everything, and everything just shifts in 261 00:14:17,440 --> 00:14:21,120 Speaker 1: an entirely new direction. And there is nobody better at 262 00:14:21,200 --> 00:14:24,520 Speaker 1: that than Ray Hadley. And so I just learned so 263 00:14:24,600 --> 00:14:29,120 Speaker 1: much about kind of programmed news content and chasing a 264 00:14:29,160 --> 00:14:31,760 Speaker 1: story right through to its completion. Yeah, I thought. I 265 00:14:31,880 --> 00:14:32,480 Speaker 1: really enjoyed it. 266 00:14:32,520 --> 00:14:35,760 Speaker 2: Because he spoke to Ray very very early on in 267 00:14:36,080 --> 00:14:39,600 Speaker 2: our show, Like in the history of our show. He 268 00:14:39,680 --> 00:14:41,240 Speaker 2: was very generous with his time, but it was a 269 00:14:41,320 --> 00:14:44,240 Speaker 2: fascinating interview and just basically talked about how hard he 270 00:14:44,280 --> 00:14:46,440 Speaker 2: worked him as you said, it's not I mean, you 271 00:14:46,440 --> 00:14:49,800 Speaker 2: guys are working really hard. But he was there as well. Yeah, anyway, 272 00:14:49,960 --> 00:14:52,720 Speaker 2: Ray don't know. He hosts the morning program on nine 273 00:14:52,800 --> 00:14:56,880 Speaker 2: own two GB. His unbeaten stretch over two decades is 274 00:14:57,000 --> 00:15:02,360 Speaker 2: unprecedented for any key time slot on Sydney radio. Hadley 275 00:15:02,440 --> 00:15:05,360 Speaker 2: lifted his audience share by one point one percentage points 276 00:15:05,360 --> 00:15:07,960 Speaker 2: in the latest survey, taking his audience share to sixteen 277 00:15:08,000 --> 00:15:11,600 Speaker 2: point four percent. His stablemate ben Fordham on two GB, 278 00:15:11,760 --> 00:15:14,760 Speaker 2: who hosts the Breakfast program, also maintained his number one 279 00:15:14,760 --> 00:15:18,240 Speaker 2: position in his time slot with a seventeen percent audience share. 280 00:15:18,600 --> 00:15:21,120 Speaker 2: Now the number two in that time slot is Kiss 281 00:15:21,200 --> 00:15:25,920 Speaker 2: FM's Kyle Sanderlan's and Jackie Oh. They're an Interesting FM duo. 282 00:15:26,080 --> 00:15:30,240 Speaker 2: Controversial in Sydney. They slipped zero point six percentage points 283 00:15:30,360 --> 00:15:33,360 Speaker 2: down to fourteen point one percent, but this survey was 284 00:15:33,400 --> 00:15:37,240 Speaker 2: his second partial ratings period of the duo's entry into 285 00:15:37,280 --> 00:15:40,320 Speaker 2: the Melbourne market. They were paid a motza to do 286 00:15:40,360 --> 00:15:43,720 Speaker 2: about Sydney and Melbourne, which they haven't which no previous 287 00:15:44,200 --> 00:15:46,880 Speaker 2: performers have been able to do. So far, they failed 288 00:15:46,880 --> 00:15:48,960 Speaker 2: to make a real impact. In Melbourne, they recorded a 289 00:15:48,960 --> 00:15:51,920 Speaker 2: five point nine percent audience share very very early days. 290 00:15:52,520 --> 00:15:56,240 Speaker 2: Three aw's Breakfast program in Melbourne, hosted by Ross Stevenson 291 00:15:56,280 --> 00:15:59,080 Speaker 2: and Russell Holcroft, remains well ahead in the timeslot. It's 292 00:15:59,080 --> 00:16:02,320 Speaker 2: got a massive eight teen point eight percent share, Sean. 293 00:16:02,360 --> 00:16:05,720 Speaker 1: Turning to international news now, in US, President Joe Biden 294 00:16:05,800 --> 00:16:08,920 Speaker 1: yesterday launched an aggressive effort to hold on to his 295 00:16:09,000 --> 00:16:14,320 Speaker 1: party's presidential nomination, issuing a letter to wavering congressional Democrats 296 00:16:14,320 --> 00:16:18,040 Speaker 1: and appearing on national TV to insist he isn't going anywhere. 297 00:16:18,480 --> 00:16:21,960 Speaker 2: Here the pressure is on. His multi pronged counter offensive 298 00:16:22,080 --> 00:16:24,640 Speaker 2: was part of a coordinated effort by the president's team 299 00:16:25,000 --> 00:16:27,960 Speaker 2: to stem the growing push for him to step aside. 300 00:16:28,160 --> 00:16:30,880 Speaker 2: In a letter to congressional Democrats, Biden wrote that more 301 00:16:30,920 --> 00:16:35,000 Speaker 2: than fourteen million voters had chosen him as a nominee 302 00:16:35,360 --> 00:16:38,080 Speaker 2: and that any weakening of resolve or lack of clarity 303 00:16:38,080 --> 00:16:41,920 Speaker 2: about the task ahead only helps Trump and hurts US. 304 00:16:42,320 --> 00:16:47,440 Speaker 2: Biden then called into MSNBC, which is watched by many Democrats, 305 00:16:47,720 --> 00:16:50,080 Speaker 2: and insisted his staying in the race. Then later he 306 00:16:50,120 --> 00:16:53,040 Speaker 2: told donors that I'm in it to the end. I'm 307 00:16:53,040 --> 00:16:56,920 Speaker 2: going to beat Trump. That's all well and good. Then 308 00:16:56,960 --> 00:17:01,520 Speaker 2: there was a New York Times report about his health. Basically, 309 00:17:01,880 --> 00:17:05,159 Speaker 2: the report said that eight times and eight months a 310 00:17:05,320 --> 00:17:10,040 Speaker 2: Parkinson's disease expert had visited the White House. Now a 311 00:17:10,080 --> 00:17:13,120 Speaker 2: spokesperson for the White House refused to give any detail. 312 00:17:13,200 --> 00:17:17,120 Speaker 2: They didn't quite refute that report. The spokesperson did say 313 00:17:17,160 --> 00:17:20,560 Speaker 2: the President had undergone three neurological tests since entering office 314 00:17:20,800 --> 00:17:24,359 Speaker 2: during his annual physical exams. But that's a story that 315 00:17:24,440 --> 00:17:25,160 Speaker 2: won't go away. 316 00:17:25,920 --> 00:17:27,560 Speaker 1: Finally, Sean I mentioned this one at the top of 317 00:17:27,560 --> 00:17:31,119 Speaker 1: the show. X has been hit by very slow user 318 00:17:31,160 --> 00:17:34,920 Speaker 1: growth as the social media platform's owner, Elon Musk, divides 319 00:17:34,960 --> 00:17:38,400 Speaker 1: audiences and it faces new competition, a lot of new 320 00:17:38,440 --> 00:17:42,560 Speaker 1: competition from the rise of Meta's rival platform threads x end. 321 00:17:42,520 --> 00:17:44,679 Speaker 2: It's a number of global daily active years as in 322 00:17:44,720 --> 00:17:46,600 Speaker 2: the second quarter of this year was two hundred and 323 00:17:46,680 --> 00:17:50,040 Speaker 2: fifty one million, a rise of one point six percent 324 00:17:50,080 --> 00:17:52,639 Speaker 2: from the same period a year ago, according to The 325 00:17:52,640 --> 00:17:56,360 Speaker 2: Financial Times. This contrast with the double digit growth experience 326 00:17:56,400 --> 00:17:59,040 Speaker 2: in the years leading up to the acquisition of X 327 00:17:59,119 --> 00:18:02,439 Speaker 2: by mask Now mister musks medvery devisive leader of X. 328 00:18:02,640 --> 00:18:05,479 Speaker 2: He rebranded it from Twitter to X. The group has 329 00:18:05,520 --> 00:18:08,000 Speaker 2: sheared advertised as he decided to remove most of the 330 00:18:08,000 --> 00:18:12,199 Speaker 2: platform's content moderators. He said they were too expensive. Across 331 00:18:12,240 --> 00:18:17,440 Speaker 2: the way at Meta, of course owns Facebook, It's launched Threads. 332 00:18:17,760 --> 00:18:19,680 Speaker 2: Launched Threads about a year ago in an effort to 333 00:18:19,800 --> 00:18:22,359 Speaker 2: challenge X. It's grown to one hundred and seventy five 334 00:18:22,840 --> 00:18:26,160 Speaker 2: million monthly active users compared to six hundred million monthly 335 00:18:26,200 --> 00:18:28,600 Speaker 2: active users claimed by X. Obviously a lot more on X, 336 00:18:28,800 --> 00:18:32,919 Speaker 2: but the growth rate of Threads is huge compared to X. 337 00:18:33,520 --> 00:18:36,080 Speaker 1: All right, up next, Sean is the Fear and Greed 338 00:18:36,160 --> 00:18:39,520 Speaker 1: Daily interview. You're speaking today with Ray Astral from nab. 339 00:18:39,760 --> 00:18:43,479 Speaker 2: Yep all about the Australian dollar. What will it do? 340 00:18:43,640 --> 00:18:46,400 Speaker 2: Will it increase, will it appreciate against the US dollar? 341 00:18:46,760 --> 00:18:49,560 Speaker 2: And why raise a man's Do we answer that? Yeah? 342 00:18:49,560 --> 00:18:51,320 Speaker 1: It is a good one. Up next in the Fear 343 00:18:51,359 --> 00:18:54,280 Speaker 1: and Greed playlist on your podcast platform or at Fearangreed 344 00:18:54,280 --> 00:18:55,960 Speaker 1: dot com dot au, which is where you sign up 345 00:18:56,000 --> 00:18:58,720 Speaker 1: for the newsletter which is coming out mid morning this morning, 346 00:18:58,840 --> 00:19:00,960 Speaker 1: so there is just an enough time to get your 347 00:19:00,960 --> 00:19:03,080 Speaker 1: email address on the list so that you'll get that 348 00:19:03,080 --> 00:19:05,879 Speaker 1: when it's released. Sean, of course it's also Wednesday today, 349 00:19:06,000 --> 00:19:06,960 Speaker 1: which means, yeah. 350 00:19:06,800 --> 00:19:08,680 Speaker 2: What's how do they afford that about this morning? 351 00:19:08,760 --> 00:19:10,480 Speaker 1: Well, how do they afford that? As a very topical 352 00:19:10,520 --> 00:19:13,840 Speaker 1: one today? And this is of course our sister podcast 353 00:19:14,320 --> 00:19:17,439 Speaker 1: that I host with Canna Campbell, financial planner and the 354 00:19:17,440 --> 00:19:21,440 Speaker 1: founder of Sugar Mama TV. And we are talking today 355 00:19:21,440 --> 00:19:25,120 Speaker 1: about tax cuts, basically how to use your tax cut 356 00:19:25,160 --> 00:19:28,560 Speaker 1: to set yourself up financially for the future and going 357 00:19:28,600 --> 00:19:30,560 Speaker 1: through a bunch of the different options. And we're talking 358 00:19:30,560 --> 00:19:33,600 Speaker 1: to the team from unisuper about this, and they include 359 00:19:33,840 --> 00:19:37,320 Speaker 1: kind of salary sacrificing into your super, paying off debts, 360 00:19:37,320 --> 00:19:40,360 Speaker 1: saving the money, investing outside of super, kind of assessing 361 00:19:40,480 --> 00:19:43,520 Speaker 1: all of the various options. It is a good one. 362 00:19:43,600 --> 00:19:46,640 Speaker 1: It is a short, sharp episode today, well worth checking out. 363 00:19:46,680 --> 00:19:49,119 Speaker 1: I'll put a link in today's show notes as well. 364 00:19:49,160 --> 00:19:52,240 Speaker 1: Thank you, Sean, Thank you Michael. It is Wednesday, the 365 00:19:52,280 --> 00:19:54,760 Speaker 1: tenth of July twenty twenty four. Make sure you're following 366 00:19:54,840 --> 00:19:58,320 Speaker 1: the podcast and please join us online on LinkedIn, Instagram, 367 00:19:58,520 --> 00:20:01,440 Speaker 1: x TikTok and Facebook. I'm Michael Thompson. That was fhear, 368 00:20:01,480 --> 00:20:02,960 Speaker 1: and greed have a great day.