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

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Speaker 1: It has been a frantic twenty four hours in politics,

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Speaker 1: with Prime Minister Anthony Alberesi signing an agreement with Papua

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Speaker 1: New Guinea, opposition leader Susan Lee giving a major economic speech,

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Speaker 1: and Donald Trump berating an Australian journalist threatening to talk

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Speaker 1: to Alberzi about him. The thirty six billion dollar bid

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Speaker 1: for oil and gas giants Santos falls over, and the

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Speaker 1: Reserve Bank almost declares victory over inflation, plus dire consequences

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Speaker 1: in Europe from climate change, and pets start boarding virgin flights.

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Speaker 1: It is Thursday, the eighteenth of September twenty twenty five.

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Speaker 1: Are Michael Thompson and good morning, Sean Aylmer.

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Speaker 2: Good morning Michael, Sean the main.

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Speaker 1: Story this morning. It has been a really it is

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Speaker 1: a frantic and somewhat unusual twenty four hours in federal politics.

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Speaker 1: I mentioned it's really a shopping list in the intro there.

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Speaker 1: We've had Prime Minister Anthony Alberesi sid signing a joint

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Speaker 1: communicate committing with Papua New Guinea to pursue a mutual

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Speaker 1: defense treaty. Oppositionally to Susan Lee giving that major economic

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Speaker 1: speech as I mentioned, and then Treasurer Jim Chalmers saying

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Speaker 1: the Liberal Party is being run by a quote weird

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Speaker 1: collection of cookers and crackpots.

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Speaker 2: He isn't quite Paul Keening. He's trying. He's trying so

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Speaker 2: hard he is he is. Prime Ministers Albanzi and James

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Speaker 2: Marape of pap New Guinea have agreed on the text

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Speaker 2: of a mutual defense treaty, which will be signed following

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Speaker 2: cabinet processes in both countries. The thing is they were

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Speaker 2: supposed to sign it this week. They haven't. They've just

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Speaker 2: signed a communicate that leads the way to the treaty.

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Speaker 2: The treaty, theoretically, assuming it's signed off in Papua New

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Speaker 2: Guinea and Australia, will commit either nation to come to

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Speaker 2: each other aid in conflict and agrees to settling out

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Speaker 2: a shared ambition to establish a recruitment pathway for p

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Speaker 2: ANDG citizens into the Australian Defense Force. It will upgrade

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Speaker 2: our relationships with PNGNG to an alliance. That's the first

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Speaker 2: new alliance Australia's had in seventy years. He came as

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Speaker 2: former US Deputy Secretary of State Kurt Campbell said that

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Speaker 2: the expected meeting between Anthony Albernezi and Donald Trump in

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Speaker 2: coming months will be the most consequential meeting between an

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Speaker 2: Australian Prime Minister and US president in decades. He urged

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Speaker 2: Albanesi to move beyond narrow bilateral issues such as tariff's

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Speaker 2: on Australian goods and focus on bigger issues in the Pacific. Meanwhile,

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Speaker 2: Susan Lee called for more sustainable management of the budget

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Speaker 2: and argued that Australia is trapped in a post pandemic

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Speaker 2: mindset of government dependency that's exacerbating in the generational inequity

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Speaker 2: by driving up debt and threatening to render the welfare

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Speaker 2: system unsustainable. She was very keen on talking about debt

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Speaker 2: and the budget yesterday, kind of her safe space given

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Speaker 2: everything else that's going on in the coalition at the moment.

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Speaker 1: Yeah, indeed, that's all the serious stuff, and that is

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Speaker 1: some really serious stuff. What about the weird collection of

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Speaker 1: cookers and crackpots though, Sean.

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Speaker 2: Let's get to the number this story.

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Speaker 1: Well.

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Speaker 2: Jim Chalmers was talking about the opposition in relation to

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Speaker 2: some members of the Conservative Parties wanting to abandon net

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Speaker 2: zero commitments. He said the worst possible outcome from an

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Speaker 2: economic point of view and an environmental point of view

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Speaker 2: would be if Australia walked away from net zero. He

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Speaker 2: then went on to call the opposition a weird collection

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Speaker 2: of cookers and crackpots. Later in the day, James Patterson,

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Speaker 2: the Opposition finance spokesperson, said there is disagreement within the

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Speaker 2: party room, but not enough to threaten Susan Lee's leadership,

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Speaker 2: nor enough to not actually commit to some sort of

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Speaker 2: climate change target. It wasn't actually the only left field

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Speaker 2: discussion involving charms. Yesterday, Michael he came out in support

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Speaker 2: of ABC journalist John Lyons, who's a veteran journalist, has

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Speaker 2: worked at Fairfax, at news Corps and now the ABC

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Speaker 2: knows what he's doing. John Lyons was rebuked by US

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Speaker 2: President Donald Trump for asking whether it was appropriate that

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Speaker 2: he Trump maintained business interests while in office. The US

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Speaker 2: President said lyons questions were damaging to the Australia US

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Speaker 2: relationship and that he would raise them with Prime Minister

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Speaker 2: Anthony Alberzi when the pair are expected to meet later

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Speaker 2: in the month. I quote in my opinion that you

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Speaker 2: are hurting Australia very much right now, and they want

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Speaker 2: to get along with me. Your leader is coming over

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Speaker 2: to see me very soon. I'm going to tell him

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Speaker 2: about you. You set a very bad tone. End quote.

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Speaker 2: Charms came out in support of Lions. He basically said

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Speaker 2: he's just doing his job, but it was kind of

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Speaker 2: entertaining to see John Lyons being told off by Donald

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Speaker 2: Trump and he's going to go to his mum or

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Speaker 2: dad in this case, Anthony Abernezi and tell on him.

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Speaker 1: Ah, that's I mean, you can't. You just can't do that.

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Speaker 1: You cannot threaten a member of the media like that.

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Speaker 1: And I know that the first rule of journalism as well, Shawn,

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Speaker 1: as not to insert yourself into the story. But as

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Speaker 1: a journalist, when John Lyons, when this is happening, wouldn't

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Speaker 1: he just be going, Oh, this is a cracker of

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Speaker 1: a story now, right.

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Speaker 2: I mean, and John is a great journalist. He's not

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Speaker 2: someone that's just come along lately. He has, but he's

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Speaker 2: been John. I apologize if I'm getting it wrong. Thirty

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Speaker 2: five forty years A journalist is an ed of tapers.

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Speaker 1: Yep, yeah, yeah, he's been at the OS and everything.

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Speaker 1: As well, so it's kind of he's worked on both

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Speaker 1: sides really of the.

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Speaker 2: Of the Sure what you mean by that, Michael go on.

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Speaker 1: I'm sorry, I'm sorry, I'm casting its versions here against

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Speaker 1: different media organizations. Let's move on quickly, shall we. Sean

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Speaker 1: The Reserve Bank has almost sort of kind of declared

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Speaker 1: victory in the war on inflation, with the central bank's

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Speaker 1: chief economists saying the organization is close to achieving its

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Speaker 1: dual goals of a strong jobs market and stable prices.

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Speaker 2: I quote Sarah Hunter, the chief economist at the Reserve Bank,

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Speaker 2: we think, we hope that we're pretty close to getting

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Speaker 2: inflation back at target. It's almost there. With inflation now falling,

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Speaker 2: the Reserve Bank is lowered the cash rate three times

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Speaker 2: to three point six percent. Financial markets reckon there'll be

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Speaker 2: one or two more moves by the middle of next year.

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Speaker 2: In terms of the unemployment rate, it's at four point

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Speaker 2: two percent. Hunter said the jobs market was and I

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Speaker 2: quote pretty close to full employment. Quote, and that's despite

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Speaker 2: isolated areas of excessive strength, including construction markets in Brisbane

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Speaker 2: and Perth. Hunter also said that after several years of

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Speaker 2: financial stress caused by high inflation and rising interest rates,

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Speaker 2: the average household was past the worst of the cost

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Speaker 2: of living pain. She said she expects inflation and the

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Speaker 2: jobs market to stay roughly where they are now. Michael,

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Speaker 2: some good economic US marketing, the calendar doesn't happen very much.

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Speaker 1: It's very exciting all right now checking local markets. Yesterday,

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Speaker 1: the S and PA s X two hundred closed lower.

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Speaker 1: It was way down by mining, retail and real estate stocks.

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Speaker 1: Traders were really waiting for the US interest rate decision,

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Speaker 1: which is due very soon. Based on our recording time.

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Speaker 1: We record obviously quite early in the morning. But Sean,

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Speaker 1: the big story happened well after the ASX actually closed

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Speaker 1: yesterday afternoon. It happened late last night where the Abu

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Speaker 1: Dhabi national oil company ADNOCK walked away from its thirty

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Speaker 1: six billion dollar takeover bid for Santos, which is Australia's

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Speaker 1: second biggest oil and gas producer. We've talked a lot

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Speaker 1: about this over the last few months. This was a

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Speaker 1: very big proposal. This Adnox Foreign Investment XRG was leading

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Speaker 1: the bidding consortium here and it said in a statement

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Speaker 1: last night that it had found factors during its due

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Speaker 1: diligence work on Santos that had reduced its assessment of

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Speaker 1: Santos's value. They issued this statement just two days before

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Speaker 1: the deadline for a binding deal to be signed, and

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Speaker 1: XRG said it was withdrawing its indicative bid and would

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Speaker 1: not proceed to a binding offer. That has just come

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Speaker 1: completely out of the blue. It seems all right, we've

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Speaker 1: still got a lot to cover, Sean.

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Speaker 2: We'll take a quick.

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Speaker 1: Break back in a moment with the rest of the

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Speaker 1: day's business news. Sean BHP will cut seven hundred and

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Speaker 1: fifty jobs in its coal business Mothball and Mine, and

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Speaker 1: may shutter skills and Training academy as part of a

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Speaker 1: cost cutting drive. The decision was called un Australian by

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Speaker 1: the Queensland government, where many of the jobs are going

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Speaker 1: to be lost.

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Speaker 2: HP blamed week coal prices and Queensland's high royalty rates

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Speaker 2: for the job cuts, which will be a mix of

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Speaker 2: white collar roles in the Brisbane office and operational roles

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Speaker 2: at this soon to be mothballed Seraji South mine in

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Speaker 2: the state's Bowen Basin coal region. The Big Australian also

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Speaker 2: said it's considering shutting the Future You Fit Academy in

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Speaker 2: Mackay that trains newcomers, particularly women, to join the industry.

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Speaker 2: Queensland Deputy Premier Jared Blaye said that BHP was un Australian.

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Speaker 2: The Big Australian is un Australian and it should keep

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Speaker 2: investing the future of young people who want a job

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Speaker 2: in a mine. B HP cole as At President Adam

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Speaker 2: Lancy said the Queensland division paid eight times more in

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Speaker 2: royalties last year than it made in profits.

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Speaker 1: One from New South Wales now sean where the state

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Speaker 1: government wants to supercharge planning approvals in the state and

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Speaker 1: have given local councils really an ultimatum make a decision

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Speaker 1: on minor home renovation applications or they'll just be ticked

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Speaker 1: off automatically.

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Speaker 2: I reckon, I'm going to get my front fence finally approved. Sophie.

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Speaker 1: You've been hanging out for this to come through, and finally, finally,

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Speaker 1: it doesn't matter what you what your neighbors say, it's

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Speaker 1: going to happen.

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Speaker 2: It's going to happen. Premier Chrismins announced the planning all

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Speaker 2: changes yesterday to speed up approvals. The idea is to

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Speaker 2: increase housing supply. Ultimately, While it should win opposition support.

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Speaker 2: In New South Wales, he is taking on many, many

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Speaker 2: local councils. New South Wales is pursuing greater urban density

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Speaker 2: to achieve its three hundred and seventy seven thousand share

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Speaker 2: of the national target to build one point two million

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Speaker 2: homes over the next five years.

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Speaker 1: How tall is this fence that you want to builds

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Speaker 1: like sixteen foot tall? It's the Almer compound.

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Speaker 2: Think about it these it's not even I mean it's

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Speaker 2: an unobtrusive fence and no one would complain about it.

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Speaker 2: But it's such a process to go through a council.

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Speaker 1: It's so hard to get a drawbridge approved these days. Anyway, Sean,

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Speaker 1: the day has moving on from planning approvals. The day

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Speaker 1: has finally arrived. Virgin Australia has started welcoming dogs and

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Speaker 1: cats on board flights between Melbourne and the Gold Coast.

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Speaker 2: I remember what a big fan you are of this story.

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Speaker 1: Trying to keep my distaste out of my voice.

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Speaker 2: Yes, the pets will have to weigh less than eight kilograms,

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Speaker 2: and that includes the pet carrier that they're in that

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Speaker 2: will sit under the seat in front. Four pets each flight,

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Speaker 2: maximum all in rows nineteen or twenty introductory fares on

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Speaker 2: sale one hundred and forty nine dollars a pet, and

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Speaker 2: the airline says it has received overwhelmingly positive feedback. It also,

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Speaker 2: for some reason, went onto great lengths to explain emissions

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Speaker 2: as in animal emissions. Can I quote Our aircraft are

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Speaker 2: fitted with ADVANCEDGPA, which is high efficiency particular air GPA

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Speaker 2: filtration systems which capture more than ninety nine percent of

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Speaker 2: airborne particles, including pet dander. That was Virgins chief marketing officer.

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Speaker 2: She went on to say cabin airflow dynamics are such

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Speaker 2: that air circulates from top to bottom and the cabin

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Speaker 2: air is renewed twenty to thirty times per hour, which

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Speaker 2: greatly reduces the risk of airborne allergen transfer. In fact,

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Speaker 2: the marketing officer said circulation was two to three times

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Speaker 2: more than a typical office environment. That isn't reason to

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Speaker 2: allow dogs and cats on planes.

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Speaker 1: A Michael, No, No, so far, I'm not seeing the

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Speaker 1: compelling argument for this one, Sean. Okay, Sean, turning to

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Speaker 1: international news, Now, this is a really serious story. Climate

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Speaker 1: change is fueled soaring summer temperatures and killed and estimated

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Speaker 1: sixteen and a half thousand people in European cities this summer,

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Speaker 1: pushing overall heat deaths to more than three times what

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Speaker 1: might otherwise have occurred.

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Speaker 2: A new study out of Imperial College in London presents

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Speaker 2: an early glimpse at the effects of Europe's fourth warmest

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Speaker 2: summer on record, in which a series of heat waves

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Speaker 2: hit countries from Italy to Germany and France. According to Bloomberg,

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Speaker 2: immaculately timed, there's a heat wave actually in France, sort

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Speaker 2: of across that Italy, Croatia red right now. In fact,

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Speaker 2: temperatures reached up to forty six degrees in Spain and

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Speaker 2: Portugal and led to the deaths of several outdoor workers

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Speaker 2: in Italy and Spain. Research is focused on eight hundred

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Speaker 2: and fifty four urban areas, finding that temperatures were as

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Speaker 2: much as three point six degrees higher from June through

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Speaker 2: August due to climate change. More than sixty thousand people

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Speaker 2: were likely killed by extreme heat in Europe in the

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Speaker 2: summer of twenty twenty two, that was the hottest year

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Speaker 2: more than forty seven thousand people in twenty twenty three.

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Speaker 2: That's according to other studies, Europe is the world's fastest

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Speaker 2: warming continent and the Mediterranean is he hotspot for climate change.

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Speaker 2: This latest research suggests that things are not improving.

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Speaker 1: Finally, Shawn, US President Donald Trump arrived in the UK

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Speaker 1: overnight for a second visit since being re elected, and

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Speaker 1: one expected to be full of pageantry.

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Speaker 2: Indeed, President Trump was due to meet King Charles in

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Speaker 2: Windsor Castle overnight. On arrival in London, he said, it's

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Speaker 2: going to be a big day. The visit will see

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Speaker 2: a crowded mix of royal pageantry, trade talks and international politics.

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Speaker 2: The red carpet is being rolled out, the carriage processions,

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Speaker 2: military parades, the red areas, and a state banquet. They

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Speaker 2: are putting all effort into impressing Donald Trump.

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Speaker 1: Yeah, would appear that's the case, Sean. Now up next

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Speaker 1: is Fear and Greed Q And a our guest today

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Speaker 1: is Josh Gilbert from Me Toro. And the reason we're

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Speaker 1: talking to Josh is because of Oracle. And we talked

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Speaker 1: last week, you and I did, at least about Larry Ellison,

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Speaker 1: the co founder of Oracle, briefly becoming the world's richest person,

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Speaker 1: and then Elon Musk kind of jumped back up to

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Speaker 1: the top of the list. And it was because Oracle's

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Speaker 1: share price surged. I think it was something like forty

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Speaker 1: three percent in one day. Now. Oracle has been around

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Speaker 1: for decades, but clearly it is booming at the moment.

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Speaker 1: So we're talking to Josh today about why why it

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Speaker 1: is booming, how far it can go, it can sustain

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Speaker 1: where it's at at the moment. It is just a

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Speaker 1: great insight into a company that you know is there.

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Speaker 1: But really, if someone came up to you and said, hey,

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Speaker 1: tell me the story of Oracle, I reckon, you'd probably

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Speaker 1: be hard pressed, right.

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Speaker 2: Yeah, yeah, yeah. And the interesting about Oracle is that

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Speaker 2: it has come off a bit since that boom last week,

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Speaker 2: and so Elon Musk is once again well and truly

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Speaker 2: the world's richest person. But briefly Larry Elson got there.

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Speaker 1: Anyway. That is up next in the Fear and Greed

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Speaker 1: playlist on your podcast platform or at Fearandgreed dot com

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Speaker 1: dot au. Thank you very much, Sean, Thank you, Michael.

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Speaker 1: It is Thursday, the eighteenth of September twenty twenty five.

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

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

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Speaker 1: and that was fear and greed ambigrat Day