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

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Speaker 1: US President Donald Trump addresses the nation but fails to

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Speaker 1: provide an end date for the war in the Middle East,

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Speaker 1: sending equity markets lower. The federal government announces new rules

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Speaker 1: for gambling advertising, and Apple turns fifty plus. Prime Minister

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Speaker 1: Anthony Ibneasy outline support packages for industry, and can SpaceX

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Speaker 1: make Elon Musk the world's first trillionaire. It is Friday,

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Speaker 1: the third of April twenty twenty six. O'm Michael Thompson

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Speaker 1: and good morning, Sean Aylmer.

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Speaker 2: Good morning, Michael, Sean.

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Speaker 1: It is a shorter show this morning given the Good

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Speaker 1: Friday public holiday across the country. Still a bit of

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Speaker 1: news to get through though. The main story this morning.

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Speaker 1: US President Donald Trump has warned that the US will

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Speaker 1: hit Iran extremely hard over the next two to three weeks,

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Speaker 1: but has not provided a timeline for the end of

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Speaker 1: the war. It was a nationally televised address yesterday. I

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Speaker 1: watched it and it was twenty minutes that probably could

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Speaker 1: have been condensed into about five. To be honest, the

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Speaker 1: President said that the war was nearing completion, then went

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Speaker 1: on to say that he was committed to bombing Iran

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Speaker 1: back to the Stone Ages where they belong. Later he

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Speaker 1: said the US was getting very close to finishing the job.

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Speaker 1: It was a lot of this of the bravado and

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Speaker 1: the rhetoric that we have come to expect from the President,

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Speaker 1: without a huge amount of detail.

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Speaker 2: Yes, earlier in the day he'd talked about pulling out

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Speaker 2: of NATO as well, though he didn't mention that in

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Speaker 2: his address. I think that was an interesting omission. Generally,

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Speaker 2: financial markets weren't impressed with the nineteen minutes speech. The

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Speaker 2: price of oil rose afterwards, equity markets fell. Trump said

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Speaker 2: little about the economic consequence of the war. Now, the

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Speaker 2: average gas price in the US has pushed beyond four

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Speaker 2: dollars a gallon, which in the US is a very

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Speaker 2: very significant figure. It's the highest in quite a few years.

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Speaker 2: Back home, Prime Minister Anthony Alberezi delivered a rebuke of

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Speaker 2: the ongoing war in the Middle East, a rebuke of

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Speaker 2: Donald Trump really. Questioning what the president hoped to achieve,

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Speaker 2: he said it wasn't clear what the endpoint was. Speaking

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Speaker 2: at the National Press Club in Canberra, Albanisi said the

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Speaker 2: longer the war went on, the more significant the impact

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Speaker 2: on the global economy. However, he then maintained that the

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Speaker 2: Australia US alliance remains strong. He restated his support for

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Speaker 2: the orchestral That.

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Speaker 1: Was a bit of good news for motorists though, as

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Speaker 1: Sean drivers around Australia will pay five point seven cents

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Speaker 1: elitter less for petrol after Queensland joined Victoria in ending

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Speaker 1: its opposition to a deal to handback a GST windfall

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Speaker 1: caused by the spike in fuel prices.

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Speaker 2: Yes, so it takes the tital relief for petrol prices

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Speaker 2: to about thirty two cents a leader. So they of

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Speaker 2: the Feds came in a twenty six point three cents

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Speaker 2: five point seven cents from the States. That's that thirty

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Speaker 2: two cents. Many service stations already passing that on, which

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Speaker 2: is good news. But the upshot really, you know, there's

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Speaker 2: no end in sight to this war unfortunately.

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Speaker 1: No.

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Speaker 2: No.

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Speaker 1: And you mentioned that that financial markets weren't particularly impressed

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Speaker 1: by Donald Trump's speech. The S and PA S X

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Speaker 1: two hundred this is a very good illustration, was higher

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Speaker 1: ahead of the speech and then tumbled to finish well

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Speaker 1: down more than one percent.

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Speaker 2: Yes, it was almost off one and a half percent

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Speaker 2: from its peak ahead of the speech till its close.

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Speaker 2: That's a sign that investors fear the potential for higher

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Speaker 2: interest rates, higher oil prices, a slate and economic growth.

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Speaker 2: Consumer stocks, consumer staple stocks like Cole's, Woolies, utilities, telcos,

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Speaker 2: they were the best performers yesterday. Tech stocks again got

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Speaker 2: sold off. We had the rally the previous day, but

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Speaker 2: you know, marktd On very problematic at the moment.

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Speaker 1: It was really curious the address yesterday because it reminded

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Speaker 1: me a lot of Anthony Albanezy's address the prenight that

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Speaker 1: it just felt as though just a lot of not much. Essentially.

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Speaker 1: In both cases, we had the Prime Minister on I

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Speaker 1: was that Wednesday night and then the US President yesterday,

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Speaker 1: both addressing the nation, both not saying a huge amount,

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Speaker 1: and really I went into these hoping for something concrete,

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Speaker 1: some information that you could really take out of it

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Speaker 1: and hopefully have a bit of optimism and hope coming

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Speaker 1: out of it. But unfortunately neither really delivered.

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Speaker 3: Ye got nothing, all right, a bit of a bit

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Speaker 3: of a I was gonna say, it's not the best

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Speaker 3: way to start, considering as the start of the long weekend.

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Speaker 1: Sean and spirits should be kind of rising. We'll be

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Speaker 1: back in a moment with the rest of the day's

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Speaker 1: business news. Sean Prime Minister Anthony Albaneasy yesterday outlined gambling

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Speaker 1: advertising reforms, including celebrities and sports players being banned from

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Speaker 1: appearing in gambling advertising and odd style promotions, and limits

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Speaker 1: on the number of ads on radio and TV. TV

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Speaker 1: stations would be limited to broadcasting three gambling advertisements an

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Speaker 1: hour that's between six am and eight thirty pm, while

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Speaker 1: advertising on radio would be banned during school drop off

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Speaker 1: and pickup times.

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Speaker 2: Advertising on social media will be limited to accounts where

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Speaker 2: the user is verified as being aged over eighteen, and

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Speaker 2: all users will have the option to opt out of

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Speaker 2: seeing gambling ads. As well as celebrities and sports players

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Speaker 2: being banned from appearing in gambling ads, promotions will be

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Speaker 2: banned in sports venues and on playing jerseys. The late

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Speaker 2: labor MP Peter Murphy led a parliamentary inquiry into gambling advertising.

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Speaker 2: The new rules implement some of her thirty three recommendations,

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Speaker 2: but certainly not all. In fact, that inquiry ultimately said

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Speaker 2: or recommended a complete advertising ban, though the government hasn't

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Speaker 2: gone that far.

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Speaker 1: Okay, the federal government will provide more support for critical industries,

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Speaker 1: including oil refining, with Prime Minister Anthony Albernesi saying the

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Speaker 1: free market approach of past decades has left Australia vulnerable

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Speaker 1: to shocks such as the current oil crisis. The changes

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Speaker 1: are likely to be part of the May twelfth federal budget,

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Speaker 1: which Albanzi says will be reformist.

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Speaker 2: Yes, I wonder whether it will. The government will bring

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Speaker 2: forward six point two billion dollars in concessional capital to

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Speaker 2: support local businesses. It includes a billion dollars in an

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Speaker 2: economic resilience program, about five billion dollars for the Net

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Speaker 2: Zero Fund. Basically that's a fund to support manufacturing investment

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Speaker 2: and energy efficiency. There's also concessional finance under the Forestry

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Speaker 2: Growth Fund. Speaking at the National Press Club, the PM

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Speaker 2: said there will be new short term spending to address

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Speaker 2: the cost of living crisis, which has been exacerbated by

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Speaker 2: the Middle East War. He also took a shot at Nation,

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Speaker 2: saying he does not want Australia to return to the

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Speaker 2: heavily protected industries and economy of the past century. Notwithstanding

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Speaker 2: industry policy is actually throwing money at specific industries.

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Speaker 1: Sounded like you're almost questioning whether the budget will indeed

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Speaker 1: be reformist. Sean, you're so jaded. Come on, have a

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Speaker 1: bit of faith here that maybe something will be done,

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Speaker 1: wouldn't it okay? Turning to international news now and SpaceX,

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Speaker 1: Elon Musk's rocket and satellite maker, has filed confidentially an

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Speaker 1: initial public offerings, setting the stage for what could be

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Speaker 1: one of the largest offerings ever. The company is committed

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Speaker 1: to debuting in June, and Muskers are aiming to raise

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Speaker 1: fifty billion US dollars about seventy two billion Aussie up

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Speaker 1: to seventy five billion US one hundred and eight billion Australian.

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Speaker 1: That's according to The New York Times.

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Speaker 2: SpaceX values itself at more than one trillion US dollars

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Speaker 2: and would be one of the most valuable companies to

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Speaker 2: reach the share market after Saudi Aramco's twenty nineteen debut

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Speaker 2: value the energy giant at about one point seven trillion.

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Speaker 2: SpaceX offering would be a generational money making event for

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Speaker 2: Wall Street, the company employees, and of course Elon Musk,

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Speaker 2: who is already one of the world's richest men. If

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Speaker 2: this goes ahead, he is closing in on becoming the

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Speaker 2: world's first trillionaire. SpaceX, which Musk founded in two thousand

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Speaker 2: and two with a goal of sending people to Mars,

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Speaker 2: has grown into one of the world's leading space companies.

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Speaker 2: From the beginning, Musk said, SpaceX's ultimate mission is to

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Speaker 2: make humans a multi planetary species, ensuring that life would

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Speaker 2: thrive if something happened on Earth. Nothing like having big plans.

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Speaker 1: Yeah, I am high, right, that's hard to do what

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Speaker 1: he's doing now. Tech giant Apple turned fifty years old

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Speaker 1: this week, starting in a garage and progressing through personal

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Speaker 1: computers and I phones to iPods AirPods, the second the

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Speaker 1: world's second most valuable company, worth three point seven trillion

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Speaker 1: US dollars, Apple now has one hundred and sixty six

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Speaker 1: thousand full time employees around the world. There are two

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Speaker 1: point five billion active devices, which is just a number

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Speaker 1: that's hard to get your head around. Thinking about Apple

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Speaker 1: is it is as famous for its design capability as

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Speaker 1: it is its technology. And famously it was the company

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Speaker 1: that most blurred the line, you would say, between work

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Speaker 1: and play.

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Speaker 2: So it was co founded by Steve Jobs, the marketing wizard,

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Speaker 2: Steve Wozniak, the engineering wizard, and a guy called Ron Wayne.

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Speaker 2: He was sort of the back office guy. He sold

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Speaker 2: out for eight hundred bucks after about two weeks, so

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Speaker 2: I had ten percent of it sold for eight hundred

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Speaker 2: bucks after two weeks. Wasniak built the first personal computer

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Speaker 2: while working for Hillo Packard. He tried to sell that

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Speaker 2: to Hilett Packard. They were an interesting so he went

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Speaker 2: into business with Steve Jobs. Apple I had certainly had

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Speaker 2: its ups and downs in the nine nineties. It was

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Speaker 2: days away from bankruptcy. Then remember Steve Job's return to

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Speaker 2: the company. He left, He had a big fight with

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Speaker 2: the board and some management in the mid eighties, came

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Speaker 2: back about ten years later, and suddenly Apple flew again

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Speaker 2: when it survived and thrived. Jobs himself tragically died of

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Speaker 2: pancreatic cancer in twenty eleven. Steve wasn't act is still

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Speaker 2: around the place. In fact, I had I had a

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Speaker 2: it's probably twelve years ago now. I think I had

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Speaker 2: dinner with Steve Rosnik, which was about eight of us,

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Speaker 2: and I sat next to him and it was one

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Speaker 2: of the best experiences of my life.

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Speaker 1: That is really cool. What was it was?

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Speaker 2: He a nice guy, very nice guy. He was a

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Speaker 2: charity event and he quirky, quirky, definitely, he would experience

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Speaker 2: and he had little sort of tricks that obviously he

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Speaker 2: was well practiced with an audience. He's not the small

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Speaker 2: talk sort of guy Steve Wozniak, but he had worked

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Speaker 2: out how to do it by doing tricks and like

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Speaker 2: little mind games. And it was a fantastic, fantastic dinner.

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Speaker 1: Oh, that is fantas That is great. That's like once

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Speaker 1: in a lifetime kind of thing. Is it time to

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Speaker 1: be up there as one of the people that you

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Speaker 1: just love to meet, if you're interested in business, if

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Speaker 1: you're an Apple user, anyone you just love to meet

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Speaker 1: someone like that. That's awesome. Now, Suan up next is

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Speaker 1: Fear and Greed Q and a something a little bit

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Speaker 1: different today. The news this week that Brent Smart, who

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Speaker 1: was the chief marketing officer at Telstra, is stepping down

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Speaker 1: from that job. He's been there for four years and

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Speaker 1: during that time he has had success after success, won

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Speaker 1: a stack of awards and really positioned Telstra well as

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Speaker 1: one of the most trusted brands in the country, one

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Speaker 1: of the most trusted telcos internationally as well. And you

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Speaker 1: spoke with him two years ago and it was a

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Speaker 1: great conversation about how you take a brand like Telstra

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Speaker 1: that has got such a strong legacy and really try

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Speaker 1: and transform it to be a future facing brand. And

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Speaker 1: so this is a look back on that conversation from

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Speaker 1: twenty twenty three, which actually three years ago.

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Speaker 2: Now I'm stuck in a time.

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Speaker 1: Okay, it's coming up next in the Fear and Greed

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

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Speaker 1: dot au.

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Speaker 2: Thanks Sean, Thanks Michael.

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Speaker 1: It's Friday, the third of April twenty twenty six. Make

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Speaker 1: sure you're following the podcast and join us online on

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Speaker 1: LinkedIn and Instagram. I'm Michael Thompson. That was Fear and Greed.

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Speaker 1: Have a great day.