1 00:00:04,019 --> 00:00:07,500 Michael Thompson: US tech stocks surge as confidence returns to the sector. 2 00:00:07,890 --> 00:00:10,678 Michael Thompson: The number of senior women in charge of large ASX 3 00:00:10,679 --> 00:00:13,529 Michael Thompson: companies spikes, but it's still well below the number of 4 00:00:13,530 --> 00:00:17,279 Michael Thompson: male CEOs, and Qantas changes the rules for what their 5 00:00:17,279 --> 00:00:20,430 Michael Thompson: air crew can wear. It's Monday, the 12th of June, 6 00:00:20,430 --> 00:00:24,329 Michael Thompson: 2023. Welcome to Fear and Greed, Australia's most popular business 7 00:00:24,329 --> 00:00:27,660 Michael Thompson: podcast. I'm Michael Thompson, and good morning, Sean Aylmer. 8 00:00:27,960 --> 00:00:29,100 Sean Aylmer: Good morning, Michael. 9 00:00:29,460 --> 00:00:32,519 Michael Thompson: Now Sean, with much of the country enjoying the King's 10 00:00:32,519 --> 00:00:36,209 Michael Thompson: Birthday long weekend, this morning's show is a little bit 11 00:00:36,300 --> 00:00:39,240 Michael Thompson: shorter, a little bit shorter, and we've got some fantastic 12 00:00:39,240 --> 00:00:41,970 Michael Thompson: stories coming up, and you've got a great chat, an 13 00:00:41,970 --> 00:00:44,729 Michael Thompson: interview, coming up straight after the show. You're speaking with 14 00:00:44,729 --> 00:00:48,809 Michael Thompson: Kiarne Treacy, the Chief Executive of Sustainable Choice Group. 15 00:00:49,469 --> 00:00:52,709 Sean Aylmer: Yeah, so it's a startup, and what Sustainable Choice Group 16 00:00:52,709 --> 00:00:56,520 Sean Aylmer: is hoping to do is introduce a more or less 17 00:00:56,520 --> 00:01:01,020 Sean Aylmer: standardized measurement for green transition. Now there's a lot going 18 00:01:01,020 --> 00:01:04,469 Sean Aylmer: on, greenwashing, green- hushing, the idea that companies aren't talking 19 00:01:04,469 --> 00:01:07,139 Sean Aylmer: about what they're doing, which ASIC is just as worried 20 00:01:07,139 --> 00:01:10,529 Sean Aylmer: about as those overstating it, and what Treacy and the 21 00:01:10,529 --> 00:01:13,110 Sean Aylmer: team at Sustainable Choice Group is trying to do is 22 00:01:13,470 --> 00:01:17,040 Sean Aylmer: find a measurement which can alleviate those problems. It's a 23 00:01:17,040 --> 00:01:18,390 Sean Aylmer: really interesting chat, Michael. 24 00:01:18,630 --> 00:01:21,298 Michael Thompson: Yeah, it's a really good one. Kiarne's a great communicator. 25 00:01:21,300 --> 00:01:23,010 Michael Thompson: It's well worth sticking around for. It's coming up a 26 00:01:23,010 --> 00:01:25,709 Michael Thompson: bit later on, and the main story this morning though, Sean, 27 00:01:25,709 --> 00:01:28,709 Michael Thompson: is one out of the US where tech stocks are 28 00:01:28,709 --> 00:01:31,890 Michael Thompson: on a tear, helping the local IT companies as well, with 29 00:01:31,890 --> 00:01:35,819 Michael Thompson: the tech- heavy NASDAQ up 27% since the beginning of 30 00:01:35,819 --> 00:01:36,750 Michael Thompson: the year. Not bad. 31 00:01:37,020 --> 00:01:39,959 Sean Aylmer: Not bad. There have been some incredible performances. We've spoken 32 00:01:39,959 --> 00:01:42,899 Sean Aylmer: a bit about chip maker Nvidia. It's riding the artificial 33 00:01:42,900 --> 00:01:46,499 Sean Aylmer: intelligence wave, and its share price is up 170% this 34 00:01:46,500 --> 00:01:49,740 Sean Aylmer: year, easily the best of the lot, but there's a 35 00:01:49,740 --> 00:01:52,320 Sean Aylmer: few others, and easing of supply chain issues and a 36 00:01:52,320 --> 00:01:56,190 Sean Aylmer: rush of sales alongside beneficial tax changes in the US 37 00:01:56,460 --> 00:02:00,599 Sean Aylmer: have helped Tesla's share price jump 126% this year, while 38 00:02:00,599 --> 00:02:05,369 Sean Aylmer: Meta, father of Facebook and Instagram, is up 112%. The 39 00:02:05,369 --> 00:02:09,360 Sean Aylmer: laggards are Apple, Microsoft, Amazon, and Alphabet. They're up between 35 and 40 00:02:09,360 --> 00:02:13,798 Sean Aylmer: 45%. Now compare that to the broader S& P 500, 41 00:02:13,800 --> 00:02:17,790 Sean Aylmer: which is up about 12%, or the local ASX 200, which 42 00:02:17,790 --> 00:02:21,569 Sean Aylmer: is up about 1% this year, and it just shows you 43 00:02:21,839 --> 00:02:23,699 Sean Aylmer: how popular tech stocks are at the moment. 44 00:02:23,940 --> 00:02:26,520 Michael Thompson: Yeah, absolutely, but break it down for me just a 45 00:02:26,520 --> 00:02:29,820 Michael Thompson: little bit. Why have these tech stocks done so well? 46 00:02:30,240 --> 00:02:33,839 Sean Aylmer: The crazy outperformers, like Nvidia and Tesla, have had stock 47 00:02:34,110 --> 00:02:38,880 Sean Aylmer: specific reasons. Artificial intelligence for Nvidia. Tesla was changes in 48 00:02:38,880 --> 00:02:42,388 Sean Aylmer: terms of tax treatment in the US. But more generally, 49 00:02:42,450 --> 00:02:45,389 Sean Aylmer: the sentiment around tech stocks is much, much more positive. 50 00:02:45,570 --> 00:02:47,610 Sean Aylmer: Three reasons for that. First, they were sold off really 51 00:02:47,610 --> 00:02:51,210 Sean Aylmer: hard in 2022, so they entered this year at lower 52 00:02:51,210 --> 00:02:55,709 Sean Aylmer: valuations, hence the rise is off a lower base. People 53 00:02:55,710 --> 00:02:59,038 Sean Aylmer: also like investing in tech stocks when they want long- 54 00:02:59,038 --> 00:03:02,460 Sean Aylmer: term growth, so there's a bit of uncertainty around at the moment, we 55 00:03:02,460 --> 00:03:05,040 Sean Aylmer: know that, but people think tech stocks, or the big 56 00:03:05,040 --> 00:03:08,910 Sean Aylmer: guys particularly, do have long- term growth. Third, they also 57 00:03:08,910 --> 00:03:12,089 Sean Aylmer: like tech stocks when interest rates are at or near 58 00:03:12,150 --> 00:03:14,580 Sean Aylmer: a peak, and that seems to be the case in 59 00:03:14,580 --> 00:03:17,038 Sean Aylmer: the US, seems to be the case here. That's not 60 00:03:17,038 --> 00:03:18,720 Sean Aylmer: to say there won't be one, two, maybe three more 61 00:03:18,720 --> 00:03:22,110 Sean Aylmer: rate rises, but certainly when interest rates have peaked, that's 62 00:03:22,110 --> 00:03:24,630 Sean Aylmer: when people start turning to tech stocks. There's also a 63 00:03:24,630 --> 00:03:27,540 Sean Aylmer: fourth one, which I should really throw in. Tech stocks 64 00:03:27,540 --> 00:03:31,110 Sean Aylmer: are often considered recession proof, so the idea... COVID was 65 00:03:31,110 --> 00:03:33,240 Sean Aylmer: an example of that where there was a downturn but 66 00:03:33,240 --> 00:03:36,089 Sean Aylmer: the tech stocks did well. It's that idea that people 67 00:03:36,090 --> 00:03:38,640 Sean Aylmer: will always use technology, even if there is a downturn. 68 00:03:38,850 --> 00:03:40,740 Sean Aylmer: You put all that together and that's why they've done 69 00:03:40,740 --> 00:03:41,369 Sean Aylmer: so well. 70 00:03:41,850 --> 00:03:44,280 Michael Thompson: And of course, we're not an investing podcast, so always 71 00:03:44,280 --> 00:03:47,610 Michael Thompson: important to get specific advice when you're making these kind 72 00:03:47,610 --> 00:03:51,629 Michael Thompson: of decisions. But with this improvement in the general sentiment 73 00:03:51,630 --> 00:03:55,020 Michael Thompson: around tech stocks, is that translating then to Australian stocks? 74 00:03:55,290 --> 00:03:57,540 Sean Aylmer: It is. It's not quite as dramatic, but tech stocks 75 00:03:57,540 --> 00:04:00,120 Sean Aylmer: have done well on the local market. WiseTech Global, the 76 00:04:00,120 --> 00:04:02,700 Sean Aylmer: tracking software group and the largest IT company on the 77 00:04:02,700 --> 00:04:06,540 Sean Aylmer: ASX, is up more than 50% this year. Accounting software 78 00:04:06,540 --> 00:04:10,469 Sean Aylmer: group, Xero, is up 33%. Online real estate company, REA, 79 00:04:10,469 --> 00:04:14,160 Sean Aylmer: is up 21%. It certainly doesn't mean it's going to 80 00:04:14,160 --> 00:04:17,340 Sean Aylmer: last, and get your own advice on this for sure, 81 00:04:17,520 --> 00:04:20,610 Sean Aylmer: but it has been a great start to 2023 for 82 00:04:20,610 --> 00:04:21,270 Sean Aylmer: the tech stocks. 83 00:04:21,928 --> 00:04:24,990 Michael Thompson: All right. Good story. Now Sean, the ASX is closed 84 00:04:24,990 --> 00:04:27,450 Michael Thompson: today obviously, but how did local markets finish up last week? 85 00:04:28,199 --> 00:04:34,260 Sean Aylmer: The S& P/ ASX 200 closed up 0.3%, to 7, 123 points, with two 86 00:04:34,260 --> 00:04:37,290 Sean Aylmer: sectors doing much of the work, the tech stocks and the 87 00:04:37,290 --> 00:04:39,930 Sean Aylmer: mining sector. We've spoken a fair bit about tech stocks. 88 00:04:40,170 --> 00:04:42,750 Sean Aylmer: In terms of the miners, iron ore futures are trading 89 00:04:42,750 --> 00:04:48,179 Sean Aylmer: higher. BHP climbed 1.3% as a result. Fortescue Metals was up 1. 4%. The 90 00:04:48,210 --> 00:04:50,730 Sean Aylmer: best on the bourse on Friday though was Nickel Industries, 91 00:04:51,120 --> 00:04:51,450 Sean Aylmer: up 13.3%. 92 00:04:51,451 --> 00:04:55,620 Michael Thompson: And is there much going on in commodity markets at 93 00:04:55,620 --> 00:04:56,159 Michael Thompson: the moment, Sean? 94 00:04:56,490 --> 00:04:58,980 Sean Aylmer: They're all trading, but oil and gold prices are off 95 00:04:58,980 --> 00:05:01,259 Sean Aylmer: a bit. As I mentioned, iron ore prices are up 96 00:05:01,259 --> 00:05:02,909 Sean Aylmer: a bit. Been a good few days for the Aussie 97 00:05:02,910 --> 00:05:06,630 Sean Aylmer: dollar, and that's probably the standout news item this morning. 98 00:05:06,630 --> 00:05:09,450 Sean Aylmer: It's trading around 67.4 US cents, Michael. 99 00:05:09,900 --> 00:05:11,549 Michael Thompson: All right, we'll be back in a moment with the 100 00:05:11,550 --> 00:05:20,368 Michael Thompson: rest of the day's business news. Sean, Australia's biggest companies 101 00:05:20,370 --> 00:05:23,279 Michael Thompson: are doing a better job than the broader corporate sector 102 00:05:23,339 --> 00:05:27,238 Michael Thompson: of appointing female chief executives, with five women now in 103 00:05:27,240 --> 00:05:30,540 Michael Thompson: leadership roles among the top 20. The rise in part 104 00:05:30,540 --> 00:05:35,339 Michael Thompson: reflects more female executives acquiring greater operational experience and boards 105 00:05:35,339 --> 00:05:39,000 Michael Thompson: recognizing the advantage of having greater diversity among top decision 106 00:05:39,000 --> 00:05:42,359 Michael Thompson: makers, according to a report in the Financial Review. There 107 00:05:42,359 --> 00:05:45,900 Michael Thompson: have been three female appointments of top 20 ASX companies in 108 00:05:45,900 --> 00:05:49,529 Michael Thompson: the past year. Vicki Brady at Telstra, Leah Weckert at 109 00:05:49,529 --> 00:05:53,279 Michael Thompson: Coles, and Fiona Hick at Fortescue. That means the number 110 00:05:53,279 --> 00:05:56,219 Michael Thompson: has gone from two to five. Of course, the other 111 00:05:56,219 --> 00:06:00,480 Michael Thompson: two, Shemara Wikramanayake runs Macquarie Bank, and Meg O'Neill is boss 112 00:06:00,480 --> 00:06:03,600 Michael Thompson: at Woodside. The number of women running companies in the 113 00:06:03,600 --> 00:06:07,650 Michael Thompson: top 50 has doubled to eight. Among the ASX 200, the 114 00:06:07,650 --> 00:06:10,380 Michael Thompson: proportion of companies headed by women has also doubled, but 115 00:06:10,380 --> 00:06:14,130 Michael Thompson: at a much lower ratio. Basically it shows that 21, 116 00:06:14,130 --> 00:06:16,559 Michael Thompson: or about 10%, of the top 200 companies are now 117 00:06:16,559 --> 00:06:20,310 Michael Thompson: run by women, so at the very top level it's 25%, 118 00:06:20,310 --> 00:06:23,370 Michael Thompson: but the further you go the lower it gets. Still 119 00:06:23,370 --> 00:06:25,080 Michael Thompson: some work to do, in fact, still a lot of 120 00:06:25,080 --> 00:06:27,089 Michael Thompson: work to do, but at least they're on the way. 121 00:06:27,450 --> 00:06:29,220 Sean Aylmer: Yeah, it is a bit of progress it seems. 122 00:06:29,610 --> 00:06:33,900 Michael Thompson: Now Sean, Crown Resorts' Chief Executive, Ciarán Carruthers, has called 123 00:06:33,900 --> 00:06:36,419 Michael Thompson: for more workers to return to the office to help 124 00:06:36,450 --> 00:06:40,950 Michael Thompson: Australia's CBDs survive the cost of living crisis and economic slowdown. 125 00:06:41,400 --> 00:06:44,279 Sean Aylmer: Carruthers also backed the federal government's moves to lift skilled 126 00:06:44,279 --> 00:06:47,698 Sean Aylmer: migration, saying more overseas workers will help the casino group 127 00:06:47,700 --> 00:06:50,460 Sean Aylmer: bounce back to pre- pandemic levels, but he warns that 128 00:06:50,460 --> 00:06:54,389 Sean Aylmer: spiraling rents need to be tackled, saying it presented a 129 00:06:54,389 --> 00:06:57,690 Sean Aylmer: triple barrier for foreign workers choosing Australia in a very 130 00:06:57,990 --> 00:07:01,890 Sean Aylmer: globally competitive labor market. Crown is Victoria's biggest single site 131 00:07:01,920 --> 00:07:05,520 Sean Aylmer: employer, taking up most of Melbourne's CBD eastern flank. The 132 00:07:05,520 --> 00:07:08,790 Sean Aylmer: company also opened a 2. 2 billion VIP casino and 133 00:07:08,790 --> 00:07:11,639 Sean Aylmer: resort at Barangaroo in Sydney last August. It's got big 134 00:07:11,639 --> 00:07:15,990 Sean Aylmer: operations in Perth as well. Overall, it employs 23, 500 staff. 135 00:07:16,200 --> 00:07:18,690 Sean Aylmer: Now, Carruthers has joined a growing number of chief executives, 136 00:07:18,690 --> 00:07:22,469 Sean Aylmer: including National Australia Bank's Ross McEwan, who wants workers to 137 00:07:22,469 --> 00:07:26,309 Sean Aylmer: return to their offices in order to revitalize CBDs, which 138 00:07:26,309 --> 00:07:29,159 Sean Aylmer: of course would in turn help lift consumer and business 139 00:07:29,160 --> 00:07:32,220 Sean Aylmer: confidence, or at least that's what Ciarán Carruthers and Ross 140 00:07:32,220 --> 00:07:32,850 Sean Aylmer: McEwan hope. 141 00:07:33,420 --> 00:07:38,400 Michael Thompson: All right, Sean, change is afoot at Qantas. Actually, stop. 142 00:07:38,460 --> 00:07:42,509 Michael Thompson: Missed opportunity here. Change is in the air at Qantas. 143 00:07:42,509 --> 00:07:42,510 Sean Aylmer: Oh, much better. Much better. 144 00:07:42,510 --> 00:07:47,489 Michael Thompson: Much, much. It's just glorious, isn't it? Now, the change 145 00:07:47,490 --> 00:07:50,130 Michael Thompson: that we're talking about here, male cabin crew now being 146 00:07:50,130 --> 00:07:53,730 Michael Thompson: allowed to grow their hair, that would obviously be a 147 00:07:53,730 --> 00:07:55,980 Michael Thompson: sensitive one for you, Sean, and wear makeup as well, 148 00:07:56,309 --> 00:07:58,860 Michael Thompson: and women can wear flat shoes and don't have to 149 00:07:58,860 --> 00:07:59,670 Michael Thompson: wear makeup. 150 00:07:59,820 --> 00:08:03,989 Sean Aylmer: It's quite remarkable that this story is a story, but 151 00:08:03,990 --> 00:08:06,720 Sean Aylmer: it is. It's actually the biggest change in dress policy 152 00:08:06,720 --> 00:08:10,170 Sean Aylmer: at the national carrier in 10 years. So the relaxation, 153 00:08:10,170 --> 00:08:12,750 Sean Aylmer: is the word they've used, the relaxation of previously hard- 154 00:08:12,750 --> 00:08:17,280 Sean Aylmer: line styling rules followed a lengthy uniform review by Qantas 155 00:08:17,639 --> 00:08:20,520 Sean Aylmer: that came after a lot of lobbying from unions. Other 156 00:08:20,520 --> 00:08:22,709 Sean Aylmer: changes include the option for men and women to wear 157 00:08:22,709 --> 00:08:26,430 Sean Aylmer: diamond earrings and colorful nail polish. Fitbits and large watches 158 00:08:26,430 --> 00:08:29,220 Sean Aylmer: are now allowed as well. Men and women with long 159 00:08:29,220 --> 00:08:31,800 Sean Aylmer: hair must wear it in a ponytail or bun or 160 00:08:31,800 --> 00:08:33,990 Sean Aylmer: cornrows. Now I had to look up what cornrows was, 161 00:08:33,990 --> 00:08:36,809 Sean Aylmer: and I saw a picture of it and I would've called it tight 162 00:08:36,809 --> 00:08:40,649 Sean Aylmer: plaits, but anyway, cornrows. There is also more fluidity between 163 00:08:40,679 --> 00:08:43,439 Sean Aylmer: specific men's and women's uniform sets, with much more ability 164 00:08:43,470 --> 00:08:46,110 Sean Aylmer: to mix up the various pieces. However, there is still 165 00:08:46,110 --> 00:08:49,200 Sean Aylmer: a requirement to cover up any tattoos, and stockings are 166 00:08:49,200 --> 00:08:52,710 Sean Aylmer: still required when wearing a dress or skirt. Name badges 167 00:08:52,800 --> 00:08:58,500 Sean Aylmer: also remain compulsory for crew. Interesting story, this one in 2023. 168 00:08:58,920 --> 00:09:03,449 Michael Thompson: In international news, Sean, Ukrainian president, Volodymyr Zelenskyy, acknowledged over 169 00:09:03,450 --> 00:09:08,370 Michael Thompson: the weekend that his military was engaged in counteroffensive and 170 00:09:08,370 --> 00:09:13,530 Michael Thompson: defensive operations. A day after Russia's Vladimir Putin said his long- 171 00:09:13,590 --> 00:09:17,218 Michael Thompson: vaunted drive to retake territory was well underway. 172 00:09:17,760 --> 00:09:21,328 Sean Aylmer: Zelenskyy said counteroffensive and defensive actions are taking place in 173 00:09:21,330 --> 00:09:24,750 Sean Aylmer: Ukraine, but wouldn't be drawn on what stages they are. 174 00:09:25,350 --> 00:09:27,780 Sean Aylmer: He said when asked, " The generals are all in a 175 00:09:27,780 --> 00:09:31,348 Sean Aylmer: positive mood. Pass that on to Putin." Now, he said 176 00:09:31,349 --> 00:09:33,270 Sean Aylmer: that with a smile, and he was standing alongside visiting 177 00:09:33,450 --> 00:09:36,328 Sean Aylmer: Canadian Prime Minister, Justin Trudeau, at the time. Not sure 178 00:09:36,330 --> 00:09:40,260 Sean Aylmer: that Trudeau quite knew what to say in response to that, but obviously the 179 00:09:40,260 --> 00:09:41,819 Sean Aylmer: counteroffensive is up and running. 180 00:09:42,150 --> 00:09:45,269 Michael Thompson: And Sean, Donald Trump addressed his supporters over the weekend 181 00:09:45,270 --> 00:09:48,509 Michael Thompson: for the first time since his indictment on multiple federal 182 00:09:48,509 --> 00:09:52,349 Michael Thompson: charges, saying it is a witch hunt, a fake indictment, 183 00:09:52,440 --> 00:09:55,440 Michael Thompson: and shows two standards of justice in the US. 184 00:09:55,890 --> 00:09:59,250 Sean Aylmer: The 37 counts of the indictment released on Friday and 185 00:09:59,250 --> 00:10:03,870 Sean Aylmer: focused on his alleged mishandling of classified materials, is potentially 186 00:10:03,870 --> 00:10:07,320 Sean Aylmer: far more severe, legally at least, than previous charges of 187 00:10:07,320 --> 00:10:11,789 Sean Aylmer: personal, political, or commercial misconduct. In Columbus, Georgia, Trump called 188 00:10:11,789 --> 00:10:15,540 Sean Aylmer: it a fake indictment, saying he's been pursued in court 189 00:10:15,840 --> 00:10:17,790 Sean Aylmer: because of his bid for a second term in the 190 00:10:17,790 --> 00:10:19,860 Sean Aylmer: White House. He went on, and I've got to quote 191 00:10:19,860 --> 00:10:23,069 Sean Aylmer: this, Michael, because it is quite incredible, " We now have 192 00:10:23,070 --> 00:10:27,630 Sean Aylmer: two standards of justice in our country. The Democrat communists 193 00:10:27,660 --> 00:10:30,780 Sean Aylmer: want to jail their opponents, while they protect the murderers 194 00:10:30,780 --> 00:10:35,400 Sean Aylmer: who prowl our cities day and night, and other brazen criminals." 195 00:10:36,030 --> 00:10:37,020 Michael Thompson: Mm- hmm, right. 196 00:10:37,530 --> 00:10:39,330 Sean Aylmer: Trump is due to appear in a federal court in 197 00:10:39,330 --> 00:10:42,870 Sean Aylmer: Miami tomorrow night Australian time to answer charges he put 198 00:10:42,870 --> 00:10:44,968 Sean Aylmer: US national security at risk. 199 00:10:45,450 --> 00:10:47,758 Michael Thompson: Well, the theater, Sean, just rolls on it. 200 00:10:48,510 --> 00:10:50,730 Sean Aylmer: We talk about it so much because it is theater 201 00:10:51,090 --> 00:10:53,850 Sean Aylmer: and it is so entertaining, but it's also about running 202 00:10:53,850 --> 00:10:56,879 Sean Aylmer: the world's most powerful country, and in fact when you think about 203 00:10:56,880 --> 00:10:58,380 Sean Aylmer: that, it's incredibly sad. 204 00:10:58,650 --> 00:11:01,348 Michael Thompson: Yeah, it's very, very, very serious indeed. 205 00:11:01,349 --> 00:11:01,649 Sean Aylmer: Yeah. 206 00:11:01,740 --> 00:11:04,289 Michael Thompson: Now up next is the Fear and Greed Daily Interview. 207 00:11:04,289 --> 00:11:07,559 Michael Thompson: You're speaking today with Kiarne Treacy, the Chief Executive of 208 00:11:07,559 --> 00:11:10,650 Michael Thompson: Sustainable Choice Group, and part of that is the web 209 00:11:10,650 --> 00:11:12,810 Michael Thompson: platform, SustainabilityTracker. com. 210 00:11:13,380 --> 00:11:18,840 Sean Aylmer: Yes, so SustainabilityTracker. com, Kiarne hopes, will eventually morph into 211 00:11:18,870 --> 00:11:23,159 Sean Aylmer: basically a measurement tool to judge how people are going 212 00:11:23,160 --> 00:11:25,559 Sean Aylmer: in the green transition. Really interesting chat with Kiarne. 213 00:11:25,559 --> 00:11:29,490 Michael Thompson: Yeah, it's good, and it is interesting because the conversation goes 214 00:11:29,490 --> 00:11:31,710 Michael Thompson: into some of those clients that are working with them 215 00:11:32,220 --> 00:11:34,679 Michael Thompson: already, like I think Europcar is one of them, and 216 00:11:34,679 --> 00:11:35,969 Michael Thompson: John West I know you talked about. 217 00:11:35,969 --> 00:11:36,960 Sean Aylmer: John West is another, yeah. 218 00:11:36,990 --> 00:11:40,590 Michael Thompson: Yeah, and so it illustrates the way that big companies 219 00:11:40,590 --> 00:11:42,358 Michael Thompson: are able to use a platform like this. I've found 220 00:11:42,359 --> 00:11:45,360 Michael Thompson: it really interesting. You've also got, of course, Fear and 221 00:11:45,360 --> 00:11:49,439 Michael Thompson: Greed - The Week Ahead, featuring our resident economist, Stephen Koukoulas. 222 00:11:49,770 --> 00:11:51,840 Sean Aylmer: I think he's in shock after last week. We had 223 00:11:51,840 --> 00:11:54,690 Sean Aylmer: growth numbers that were weak. We had an interest rate 224 00:11:54,690 --> 00:11:59,098 Sean Aylmer: hike which, well broadly, people didn't really expect, and we 225 00:11:59,100 --> 00:12:01,920 Sean Aylmer: bring all that together. Also this week we've got labor 226 00:12:01,920 --> 00:12:05,429 Sean Aylmer: force numbers. Very, very important. It's a lagging indicator, as 227 00:12:05,429 --> 00:12:09,929 Sean Aylmer: in the unemployment numbers come out after the economy has 228 00:12:09,929 --> 00:12:12,389 Sean Aylmer: moved on a bit, they lag, and as a result 229 00:12:12,389 --> 00:12:14,519 Sean Aylmer: it'll be interesting to see whether we are seeing an 230 00:12:14,520 --> 00:12:17,609 Sean Aylmer: uptick in the unemployment rate from the current level of 3. 7%. 231 00:12:18,420 --> 00:12:20,819 Michael Thompson: Excellent. Both of those interviews are coming up next in 232 00:12:20,820 --> 00:12:23,040 Michael Thompson: the Fear and Greed playlist on your podcast platform or 233 00:12:23,040 --> 00:12:25,468 Michael Thompson: at fearandgreed. com. au. Thank you, Sean. 234 00:12:25,679 --> 00:12:26,400 Sean Aylmer: Thank you, Michael. 235 00:12:26,490 --> 00:12:29,519 Michael Thompson: It's Monday, the 12th of June, 2023. Make sure you're 236 00:12:29,520 --> 00:12:33,389 Michael Thompson: following the podcast. Join us online on LinkedIn and Instagram and 237 00:12:33,389 --> 00:12:35,670 Michael Thompson: Twitter and Facebook, and stay up to date on all 238 00:12:35,670 --> 00:12:38,550 Michael Thompson: the business news with Alexa and your Amazon Echo smart 239 00:12:38,550 --> 00:12:42,030 Michael Thompson: speaker. Simply say, " Alexa, play the Fear and Greed podcast," 240 00:12:42,030 --> 00:12:44,369 Michael Thompson: and catch the latest episode. You can grab yours now 241 00:12:44,370 --> 00:12:47,370 Michael Thompson: at amazon. com. au. I'm Michael Thompson and that was 242 00:12:47,370 --> 00:12:49,078 Michael Thompson: Fear and Greed. Have a great day.