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

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Speaker 1: It's been a busy twenty four hours in the airline industry,

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Speaker 1: headlined by Quantus's decision to acts its Asia subsidiary. The

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Speaker 1: ASX two hundred hits an all time high, and Nintendo

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Speaker 1: sells three and a half million units of its new

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Speaker 1: switch to in just four days. Plus by now Pay

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Speaker 1: Later group Zipco was on a tear with a share

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Speaker 1: price up thirty six percent in five days, and ABC

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Speaker 1: acts as one of its most popular shows, with job

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Speaker 1: cuts also likely. It is Thursday, the twelfth of June

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Speaker 1: twenty twenty five. Are Michael Thompson and Good Morning, Sean Aylmer.

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Speaker 2: Good morning, Michael.

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Speaker 1: Sean meety newsletter this morning. There is so much in there,

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Speaker 1: but even so, you can digest that whole meaty meal

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Speaker 1: in just three minutes.

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Speaker 2: That's a very unusual way of putting it, but it

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Speaker 2: is so true. It's kind of like an Asahi bowl

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Speaker 2: in the morning, you know. Easy to digest, plenty in it,

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Speaker 2: easy to digest.

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Speaker 1: Yeah, lots of meat.

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Speaker 2: Yeah no, no, he bothersn't have any meat, No, no.

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Speaker 1: This one does. You can sign up at the Fear

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Speaker 1: and greed website Fearangreed dot com dot au. I'll also

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Speaker 1: put a link in today's show notes, and there's also

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Speaker 1: a link in there to our survey where you can

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Speaker 1: win a three thousand dollars luxury escape about you. But

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Speaker 1: I'll get to that a little bit later. On the

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Speaker 1: main story this morning, Sean Quantas is closing its Asia subsidiary,

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Speaker 1: Virgin is rushing to list in less than a fortnight,

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Speaker 1: and a potential buyer of the failed Rex airline is

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Speaker 1: promising to keep planes in the air on regional routes.

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Speaker 1: It has been a massive twenty four hours in the

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Speaker 1: airline industry, and I'm in heaven.

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Speaker 2: It's your type of twenty four hours. Starting with Quantas,

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Speaker 2: the national carrier will close down jet Stars Singapore based

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Speaker 2: Intra Asia subsidiary. Now it's called Jetstar Asia. It'll end

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Speaker 2: a fairly consistent train on the parent company's profit. When

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Speaker 2: it does close down, it won't affect Jetstar's international operations

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Speaker 2: or Jetstarjet Pan. Say Michael, if you've got tickets to

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Speaker 2: go to Bali something like that. My son's got tickets

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Speaker 2: to go to Barlie on Jetstar. I told him about

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Speaker 2: it yesterday and he said, what about me, a chip

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Speaker 2: off the old block? Its self interest.

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Speaker 1: Self interest runs in the family.

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Speaker 2: He's fine, He's fine. Quantusy Vanessa Hudson says rising supply costs,

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Speaker 2: higher airport and security fees, and intense competition have made

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Speaker 2: life much harder in the past few years. In fact,

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Speaker 2: in it's twenty years of operation, Jetstar Asia has lost

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Speaker 2: money in fourteen years, so maybe it's a surprise that

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Speaker 2: it's taken so long for them to close that the

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Speaker 2: group has thirteen planes, some of which will find their

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Speaker 2: way back into the Quantus's broader fleet. Moving on to

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Speaker 2: Regional Express or REX. A potential buyer, an Aceence Infrastructure says,

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Speaker 2: if it's bid for REX is successful, it will repay

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Speaker 2: the federal government the one hundred and thirty million dollars

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Speaker 2: it's invested, and other creditors will become shareholders. Mind you.

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Speaker 2: According to the fin review, REX watchers say that bid

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Speaker 2: is a long way from being accepted. Of course, REX

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Speaker 2: collapsed in July last year.

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Speaker 1: It's got to be pretty good, right, I mean, they're

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Speaker 1: not exactly lining up to take REX.

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Speaker 2: On, No, but it's a very complicated deal. That one ye.

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Speaker 2: The Renaisance infrastructure, and I think the government would like

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Speaker 2: a fairly clean cut. You know, what about wages? What

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Speaker 2: about They really want to keep flights flying.

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Speaker 1: Because the government has been heavily invested in making sure

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Speaker 1: that services are maintained.

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Speaker 2: Yeah, I mean it's been one hundred and thirty million

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Speaker 2: dollars so far.

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Speaker 1: Yeah, all right, carry on, moving on.

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Speaker 2: A Virgin full throttle on listing on Tuesday, the twenty

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Speaker 2: fourth of June. I was proud of the full throttle ones.

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Speaker 2: Assuming it's successful, current owners Bain will go from holding

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Speaker 2: a seventy percent stake to forty percent. Katar will have

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Speaker 2: twenty six percent of it. No, that's not true, it's

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Speaker 2: twenty five percent. I think. Now Virgin's proposed share price

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Speaker 2: ten dollars ninety when it hits the BRSE. That's about

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Speaker 2: seven times earnings. Concentrates it about ten times earning, So

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Speaker 2: that in English means that Virgin will be relatively cheap

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Speaker 2: at least when it first lists.

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Speaker 1: Sean you might be excused for thinking that that's enough

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Speaker 1: air related.

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Speaker 2: New you'd be relieved if that was enough.

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Speaker 1: No no, no, no, no no no, but wait, there's more.

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Speaker 1: While all of that was going on with the carriers.

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Speaker 1: Prime Minister Anthony Abernezi yesterday unveiled Western Sydney International Airport's

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Speaker 1: terminal precinct, only this second to be built in the

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Speaker 1: past fifty years. This has been a long time coming.

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Speaker 2: Firstly, I'm going to give you one hundred dollars if

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Speaker 2: you can tell me the other precinct that's been built

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Speaker 2: in the last fifty years. As other precinct, as in

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Speaker 2: like a terminal precinct. No, if you don't know, if,

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Speaker 2: go on then to Womba, to Womba. Yeah, there you go.

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Speaker 1: I should have known that, you should have. Yeah, the

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Speaker 1: well camp.

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Speaker 2: Yes, airport.

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Speaker 1: Yes, do I still get it now because I gave

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Speaker 1: you extra detail?

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Speaker 2: No? No, No. Sydney Western Sydney Airport Chief Executive Simon

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Speaker 2: Hickey was singing its praises, saying the bag system at

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Speaker 2: the new airport is more like an Amazon sortation system.

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Speaker 2: I've never heard of the word sortation, but there you go.

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Speaker 2: The airport will also be able to use biometrics like

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Speaker 2: facial recognition to speed up immigration processes, depending on how

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Speaker 2: quickly Border Security and Immigration can roll out. That technology, which.

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Speaker 1: Is always fool for it never goes down.

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Speaker 2: I have nephews who are twins and they can actually

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Speaker 2: their facial reads are the same similar, not always, but

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Speaker 2: sometimes that's pretty cool, also frightening. Yeah, Western Sydney has

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Speaker 2: been built to accommodate ten million passengers a year at

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Speaker 2: its initial stage. I think Adelaide Airport. It's actually been

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Speaker 2: designed to grow to about eighty million years. I think

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Speaker 2: JFK in New York. Good news on the front of

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Speaker 2: getting more people through it, and New Zealand's done a

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Speaker 2: deal with Western Sydney Airport to use it from mid

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Speaker 2: twenty twenty seven. It joins Quantas, Jetstar and Singapore Airlines.

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Speaker 1: I think we're done for airline news now exhausting. We

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Speaker 1: might be able to bust out a surprise story later

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Speaker 1: on sean local share market. Let's talk about that hit

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Speaker 1: a new record high yesterday, another one as talks between

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Speaker 1: China and US progressed, and that provided a bit of

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Speaker 1: confidence to investors.

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Speaker 2: That's right, the S and p ASX two hundred a

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Speaker 2: new intra day high, Like that's an all time high.

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Speaker 2: We're talking about the closing high and the inter day high,

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Speaker 2: so the inter day high is generally higher than the

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Speaker 2: closing high, almost always six hundred and thirty nine point

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Speaker 2: one points. Wow, pretty good. By the close is about

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Speaker 2: flat disappointing, We're all that way up then finished just

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Speaker 2: sort of five points above where it started at eighty

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Speaker 2: five hundred and ninety two points For the past month.

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Speaker 2: It's up four percent, five percent, a bit over five

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Speaker 2: percent for twenty twenty five, eleven percent for the past

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Speaker 2: twelve months, and of course we're nearly at the end

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Speaker 2: of the financial year. The impetus yesterday was encouraging years

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Speaker 2: from London, where US and Chinese officials are seeking a

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Speaker 2: trade truce. US Comments Secretary Howd Lutnik said the second

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Speaker 2: day negotiations with had gone well. Best the top two

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Speaker 2: hundred yesterday real estate and energy companies. Tech stocks underperformed.

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Speaker 1: Sean just quickly. We are working with the team at

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Speaker 1: zero Yes we are zero dot com slash au to

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Speaker 1: bring a weekly segment called Business by Numbers. Were basically

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Speaker 1: you pick out, like these are the three numbers that

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Speaker 1: you need to know for the week. But they're really

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Speaker 1: kind of your three favorite numbers, aren't they?

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Speaker 2: Yes, So can I tell you what my three favorite

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Speaker 2: numbers are? Yes? The market cap of Commonwealth being.

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Speaker 1: Three hundred and five ish ish yep, thereabouts.

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Speaker 2: Well, you'll have to read the news that get it exactly. Well,

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Speaker 2: we did tell I did tell you this one. So

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Speaker 2: my problem. That's probably my second favorite number. My favorite

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Speaker 2: number is the fact that we hit an all time

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Speaker 2: intra day high yesterday. So that's fair enough.

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Speaker 1: So that number was what eighty six hundred and thirty

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Speaker 1: nine points?

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Speaker 2: Yes, my third favorite number. In my lad has self

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Speaker 2: interest in this or not?

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Speaker 1: I think it's going to be hard to stop them.

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Speaker 2: The Aussie dollar verse the Euro, not the US dollar.

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Speaker 2: We talk about the US dollar all the time. It's

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Speaker 2: the euro. So one Osie dollar's buying point five seven euros.

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Speaker 2: It's on the rise, Mike. It's almost like I'm going

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Speaker 2: over there at some point sometime very soon.

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Speaker 1: Okay. So they are your three favorite numbers for the day. Okay.

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Speaker 1: So we've got the market cap of Comwealth Bank yep.

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Speaker 2: We have got the inter day high yep. And the

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Speaker 2: Ossie against the euro because all these Australians about to

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Speaker 2: head over to the northern summer and you know, like

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Speaker 2: I reckon, it's one in three people between the ages

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Speaker 2: of twenty and twenty two.

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Speaker 1: Yeah, to get a US suddenly everyone listening to this

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Speaker 1: is just cheering. That's right, Okay, Oh I like that.

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Speaker 1: I have a bad feeling that this segment is just

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Speaker 1: going to be riddled with self interest.

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Speaker 2: As we as we go through the rest of the show,

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Speaker 2: of course.

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Speaker 1: Okay, quick break. We'll be back in moment with the

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Speaker 1: rest of the day's business news Shawn. The United States

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Speaker 1: has quickly criticized the federal government's decision to sanction two

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Speaker 1: Israeli government ministers.

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Speaker 2: Foreign Minister Pennywong unveiled targeted sanctions against Israel's National Security

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Speaker 2: Minister and Finance Minister for and I quote, extremist violence

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Speaker 2: and serious abuses of Palestinian human rights. The sanctions will

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Speaker 2: prevent the pair from traveling to Australia and freeze any

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Speaker 2: assets they hold in the country now Anthony Alberzi, his

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Speaker 2: quote was, we support Israel's right to live and to

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Speaker 2: exist in secure borders, but we also support the legitimate

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Speaker 2: aspirations of Palestinians. US Secretary of State Marco Rubio was

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Speaker 2: quick to condemn the action by Australia or Australia was joined

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Speaker 2: by four other nations as well. He said that the

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Speaker 2: decision by the five nations wouldn't help the US achieve

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Speaker 2: seze Foreign Gaza Alberanesi later in the day, when asked

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Speaker 2: about that, he said the criticism from the US was predictable.

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Speaker 1: Sean the buy now, pay later group zip Co mentioned

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Speaker 1: this at the top of the show on an absolute tear.

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Speaker 1: Jumped sixteen percent yesterday after upgrading its training performance, saying

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Speaker 1: growth in the US is up forty percent.

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Speaker 2: Amazing stock to watch. In early twenty twenty one, it

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Speaker 2: was trading above twelve bucks a share. It got to

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Speaker 2: twenty six cents in late twenty twenty three, it absolutely

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Speaker 2: got hammered. Then from twenty six cents went to three

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Speaker 2: bucks forty two late last year, then fell by sixty percent.

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Speaker 2: It's up about forty percent in the last five down

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Speaker 2: its thirty six percent in the past five days, including

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Speaker 2: sixteen percent yesterday. You call that either a rollercoaster ride

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Speaker 2: or you know, maybe a buying opportunities plenty of buying opportunities.

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Speaker 2: Maybe it's just a good way to lose money. In

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Speaker 2: any case, zip Co yesterday said the US operations were

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Speaker 2: performing better than forecast and importantly, credit losses aren't rising.

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Speaker 2: What's critical about that? Zip has tied its growth very

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Speaker 2: much to the US. It's pushed hard into the US.

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Speaker 2: We've spoken to Zip on the show a couple of

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Speaker 2: years ago about that push into the US. It still

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Speaker 2: has a fairly small penetration of that market, and you know,

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Speaker 2: when it starts to show these numbers, investors love it.

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Speaker 1: Okay, There's plenty going on at the ABC at the moment,

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Speaker 1: and not a lot of it is great news as

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Speaker 1: job cuts are the acting of one of its highest

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Speaker 1: profile programs that was previously one of its highest rating

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Speaker 1: ones too.

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Speaker 2: Yes, so after five hundred episodes, Q and A is

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Speaker 2: going to be cut. It went on a break in

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Speaker 2: May and it just won't come back. That's very media,

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Speaker 2: isn't it. Oh yeah, you never actually tell people that

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Speaker 2: it's ending. They just disappear and don't come back. Right.

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Speaker 2: The ABC says it needs to keep innovating and renewing it.

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Speaker 2: In the two decades since Q and A began, the

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Speaker 2: world has changed, no doubt. Yesterday afternoon, staff are being

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Speaker 2: called into meetings to discuss a restructure of the organization.

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Speaker 2: Now this is the under new CEO Hugh Marks. The

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Speaker 2: expectation is that there will be job losses.

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Speaker 1: He hasn't wasted any time in making some changes at

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Speaker 1: the organization. It seems no.

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Speaker 2: How long has Hugh been in the job week.

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Speaker 1: A couple of months.

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Speaker 2: Yeah, yeah, I mean incredibly will you and I have

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Speaker 2: been through these processes very very difficulty for everyone involved.

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Speaker 1: Yeah, because in the end, they are people and they

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Speaker 1: are jobs that are being affected by this, and so yeah,

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Speaker 1: it's not an easy time, Sean. It's been confirmed that

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Speaker 1: private equity group, Specific Equity Partners, has made a bid

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Speaker 1: for John's Ling. But it's a bit curious, isn't it,

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Speaker 1: because the Building Services Group isn't actually telling shareholders the price.

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Speaker 2: Of the bid, which is mighty odd given talks have

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Speaker 2: been going on for weeks and John's Lying's announcement yesterday.

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Speaker 2: Actually the heading is JLG as in John's Lyn Group.

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Speaker 2: DLG receives conditional and non binding indicative proposal that suggests

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Speaker 2: there's a process, So you would think that they would

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Speaker 2: actually tell shareholders what the price is. They didn't. Very odd,

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Speaker 2: notwithstanding that it's share price jumped eight and a half

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Speaker 2: per cent yesterday to just over three bucks a.

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Speaker 1: Year, Seawan. We are working with FONTO, which is a

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Speaker 1: research agency, and I teased this a little bit earlier.

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Speaker 1: We want to learn more about our community. We want

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Speaker 1: to know through a survey, what you are enjoying about

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Speaker 1: the show, what you think we could improve on, how

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Speaker 1: you're feeling broadly. It only takes a few minutes to do.

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Speaker 1: The best part of this is that if you do

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Speaker 1: it before June thirty, you will be in the running

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Speaker 1: to win. I reckon quite a remarkable prize.

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Speaker 2: I think it is three thousand dollars Luxury Escapes Foucher,

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Speaker 2: I reckon that's pretty good.

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Speaker 1: Yeah, it's pretty awesome. So we will put a link

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Speaker 1: in today's show notes so attached to this show on

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Speaker 1: your podcast platform, you will be able to see that.

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Speaker 1: It is also in our Fear and Gread newsletter, So

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Speaker 1: sign up for that and you will be able to

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Speaker 1: share your thoughts and go into the running for that

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Speaker 1: pretty incredible prize. Turning to international news, now Sean, the

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Speaker 1: unrest in Los Angeles is worsening, with US President Donald

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Speaker 1: Trump using a speech honoring soldiers to defend his decision

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Speaker 1: to deploy troops to LA saying the troops would liberate

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Speaker 1: the city.

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Speaker 2: He said, I quote what you're witnessing in California. Is

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Speaker 2: a full blown assault on peace, on public order, and

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Speaker 2: on national sovereignty, carried out by rioters bearing foreign flags.

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Speaker 2: Not that I've seen any foreign flags. I've seen a

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Speaker 2: lot of American flags. It comes after Trump deployed seven

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Speaker 2: hundred Marines and four thousand National Guards to LA to

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Speaker 2: help dowst riots that are protesting his immigration policies. Street

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Speaker 2: demonstrations have been under way since Friday, when activists clashed

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Speaker 2: with the sheriff's deputies. LA officials have said the unrest

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Speaker 2: has been limited to a few downtown blocks and that

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Speaker 2: the majority of demonstrators are protesting peacefully in support of immigrants.

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Speaker 2: According to Bloomberg, however, LA Mayor Karen Bass has declared

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Speaker 2: an eight pm curfew for the downtown area. Unrest continued

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Speaker 2: beyond that curfew overnight, and there were arrests. US media

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Speaker 2: and officials were also reporting protests in New York City

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Speaker 2: and Chicago.

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Speaker 1: Sean, I'm a big fan of this next story. I

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Speaker 1: would love to see you through it.

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Speaker 2: Because I don't understand it, and for listeners, this is

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Speaker 2: not my area of expertise, and I actually had to

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Speaker 2: ask Michael to explain it to me.

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Speaker 1: So we're talking about Nintendo here, and Nintendo sold three

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Speaker 1: point five million plus more than that units of this

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Speaker 1: switch To in just four days, which is a record

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Speaker 1: breaking start for the company's first new console in eight years.

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Speaker 1: What do you reckon? The last console was called well.

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Speaker 2: If it was switched to, I'm going for Switch one.

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Speaker 1: You've done it, well done. I wanted you to feel

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Speaker 1: the pressure that you put me under.

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Speaker 2: Sometimes that wasn't too hard, that one. I mean it

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Speaker 2: bodes very well for Nintendo's efforts to sell fifteen million

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Speaker 2: units by March next year, when they've sold sort of.

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Speaker 2: I was trying to do the maths on that and

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Speaker 2: couldn't get to the maths on it, but you know,

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Speaker 2: yeah thereabouts in the first four days. The issue might

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Speaker 2: be that within a Nintendo can keep up the supply.

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Speaker 2: Gamers from Tokyo to San Francisco line up for hours

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Speaker 2: last week to get their hands on one of the

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Speaker 2: most highly anticipated gadgets of the year. The long awaited

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Speaker 2: switch To succeeds a global hit. In the original switch

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Speaker 2: it wasn't Switch one, actually was just switch just the switch, yeah,

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Speaker 2: which I need a hybrid design that allows play both

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Speaker 2: at home on a TV end on the move, which

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Speaker 2: means that you never get a break. It's fantastic. You

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Speaker 2: can just be at home watching TV, walk to dinner

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Speaker 2: with game going. Yeah. I couldn't recommend it more.

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Speaker 1: For the kids. It is good fun because I mean

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Speaker 1: you can play games like Mario Cars and all of

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Speaker 1: those ones. Did you know Sean that earlier this year

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Speaker 1: in March, in fact, the airline Jet Blue paintless yet

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Speaker 1: one of their aircraft in Mario characters. There was Mario

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Speaker 1: and Peach and Luigi and Donkey Kong and all of

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Speaker 1: these ones, And that was my way of getting one

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Speaker 1: more airline into this show.

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Speaker 2: Well done, Oh congratulations, excellent.

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Speaker 1: Now up next, Sean. Fantastic interview today, really interesting one.

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Speaker 1: You're speaking to John o'lachlan from Coin Based Australia.

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Speaker 2: We're talking about cryptocurrencies and initially we're going to say

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Speaker 2: why cryptocurrency is doing so well, like bitcoin, and we

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Speaker 2: kind of do talk about that, but we actually kind

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Speaker 2: of went a lot deeper than that about what the

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Speaker 2: basis of bitcoin is about and how what's gone on

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Speaker 2: in the US. And it's well before Donald Trump has

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Speaker 2: changed the whole economics and viability of the industry. How

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Speaker 2: that's seeping into Australia, the regulations that are changing here

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Speaker 2: that will help bitcoin and other cryptocurrencies, the part I

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Speaker 2: really like more than anything. I said, there's all these

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Speaker 2: cryptocurrencies right and okay, so bitcoin has credibility, but how

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Speaker 2: far down do you have to go before we start

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Speaker 2: losing credibility? And he answered that really.

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Speaker 1: Well, yeah, yeah, and talking about meme coins and the

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Speaker 1: whole thing is interesting if you've got any interest whatsoever

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Speaker 1: in crypto and just understanding more about it and the

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Speaker 1: way the regulation could work stick around. It's coming up

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Speaker 1: next in the Fear and Greed playlist on your podcast

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Speaker 1: platform or at Fearangreed dot com. Today you thank you, Sean,

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Speaker 1: Thank you, Michael. It is Thursday, the twelfth of June

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Speaker 1: twenty twenty five. Make sure you're following the podcast and

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Speaker 1: please join us online on LinkedIn, Instagram, x TikTok and Facebook.

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Speaker 1: I'm Michael Thompson And that was Fear and Greed. Have

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Speaker 1: a great day.