1
00:00:06,240 --> 00:00:09,200
Speaker 1: Welcome to Fear and Greed business news you can use today.

2
00:00:09,240 --> 00:00:11,880
Speaker 1: One of the country's biggest financial planning groups set to

3
00:00:11,920 --> 00:00:14,520
Speaker 1: be sold in a three point three billion dollar deal,

4
00:00:14,840 --> 00:00:18,040
Speaker 1: The Reserve Bank explains why it didn't cut interest rates,

5
00:00:18,280 --> 00:00:22,560
Speaker 1: and federal parliament kicks off. Plus forecasts that Chinese made

6
00:00:22,640 --> 00:00:25,639
Speaker 1: cars will make up almost half of all sales in

7
00:00:25,680 --> 00:00:29,520
Speaker 1: a decade's time, and Donald Trump's approval rating takes a tumble.

8
00:00:29,760 --> 00:00:32,400
Speaker 1: It is Wednesday, the twenty third of July twenty twenty five.

9
00:00:32,479 --> 00:00:35,000
Speaker 1: I'm Michael Thompson, and good morning, Sean Aylmer.

10
00:00:35,080 --> 00:00:37,800
Speaker 2: Good morning, Michael. Day three. You back into the swing

11
00:00:37,840 --> 00:00:39,240
Speaker 2: of it after your two week break.

12
00:00:39,360 --> 00:00:41,040
Speaker 1: I was back in the swing of it by day one.

13
00:00:41,080 --> 00:00:43,440
Speaker 1: There's there's been so much going on, right.

14
00:00:43,360 --> 00:00:44,960
Speaker 2: Yeah, plenty going on, and when you've got to get

15
00:00:45,000 --> 00:00:46,680
Speaker 2: the kids back to school and all that sort of stuff,

16
00:00:46,680 --> 00:00:48,960
Speaker 2: you've got no choice but get back into normality.

17
00:00:49,000 --> 00:00:51,519
Speaker 1: Here. Holidays feel like a very long time ago. Instantly.

18
00:00:51,880 --> 00:00:55,440
Speaker 1: The main story this morning, Sean twenty four hours after

19
00:00:55,440 --> 00:00:58,920
Speaker 1: Insignia of Financial top shareholders, there was no guarantee that

20
00:00:59,000 --> 00:01:02,040
Speaker 1: CC Capitals three point three billion dollar bid for the

21
00:01:02,080 --> 00:01:05,679
Speaker 1: company would go ahead. It went ahead, Yep, there we go.

22
00:01:06,080 --> 00:01:09,039
Speaker 1: Yesterday Insignia said it had entered into a deal under

23
00:01:09,040 --> 00:01:11,640
Speaker 1: which CC would acquire the group for four dollars eighty

24
00:01:11,640 --> 00:01:12,000
Speaker 1: a share.

25
00:01:12,240 --> 00:01:16,600
Speaker 2: The announcement on Monday sent Insignia's share price down six percent,

26
00:01:16,959 --> 00:01:19,559
Speaker 2: the worst of the ASEX two hundred on that day.

27
00:01:19,880 --> 00:01:22,360
Speaker 2: Nodoubt there'll be a few angry investors around the place

28
00:01:22,360 --> 00:01:24,720
Speaker 2: who's sold out on the back of that announcement. Now

29
00:01:24,760 --> 00:01:27,440
Speaker 2: the bid price is more than fifty percent higher than

30
00:01:27,640 --> 00:01:30,240
Speaker 2: December last year. That was before a number of companies

31
00:01:30,280 --> 00:01:33,960
Speaker 2: started showing interest. Insignia a bit of a storied company.

32
00:01:34,000 --> 00:01:37,039
Speaker 2: You may not know the more recent naming of it,

33
00:01:37,640 --> 00:01:40,399
Speaker 2: but it was originally it was found in eighteen forty six,

34
00:01:40,560 --> 00:01:46,440
Speaker 2: originally as the Independent Order of Oddfellows. It's a great icent,

35
00:01:46,520 --> 00:01:49,840
Speaker 2: isn't it. Then it shifted to IBOF which is kind

36
00:01:49,840 --> 00:01:52,200
Speaker 2: of where most people or how most people know it.

37
00:01:52,200 --> 00:01:54,920
Speaker 2: It's a very large financial advice company in Australia, as

38
00:01:54,960 --> 00:01:58,240
Speaker 2: well as superannuation and wealth management businesses. It bought the

39
00:01:58,240 --> 00:02:00,360
Speaker 2: investment businesses of A and Z for Exams, Sample and

40
00:02:00,440 --> 00:02:02,880
Speaker 2: NABS MLC, so some of those household names are all

41
00:02:02,880 --> 00:02:06,160
Speaker 2: tied up in this In the financial advisory world. Insignior

42
00:02:06,280 --> 00:02:08,120
Speaker 2: is a very big deal. It has three hundred and

43
00:02:08,120 --> 00:02:12,480
Speaker 2: thirty billion dollars in funds under management or administration. The

44
00:02:12,520 --> 00:02:15,840
Speaker 2: Insignia Board has unanimously recommended the scheme, subject to no

45
00:02:15,960 --> 00:02:20,639
Speaker 2: superior offer and a favorable independent expert report. A bit

46
00:02:20,840 --> 00:02:24,160
Speaker 2: to get through in terms of shareholder and regulatory approvals,

47
00:02:24,200 --> 00:02:28,040
Speaker 2: including from OPRA, the regulator, the Financial of the VERB,

48
00:02:28,120 --> 00:02:31,320
Speaker 2: Foreign Investment Review Board and the competition watchdog, the Australian

49
00:02:31,360 --> 00:02:35,520
Speaker 2: Competition and Consumer Commission. By the close, the group's share

50
00:02:35,560 --> 00:02:38,400
Speaker 2: price had jumped twelve percent to four dollars forty one,

51
00:02:38,520 --> 00:02:41,320
Speaker 2: the bids for dollars eighty. So obviously there's still still

52
00:02:41,320 --> 00:02:44,920
Speaker 2: some doubt about whether it will pass all that regular

53
00:02:44,960 --> 00:02:48,280
Speaker 2: tree protocol. But I'll tell you what if I had

54
00:02:48,280 --> 00:02:52,919
Speaker 2: sold on Monday only it was literally twenty four hours

55
00:02:52,919 --> 00:02:56,120
Speaker 2: and six minutes later they came and said we've done Adiral.

56
00:02:56,440 --> 00:02:58,919
Speaker 2: I don't understand why they why they had to put

57
00:02:58,919 --> 00:03:01,119
Speaker 2: it out Monday.

58
00:03:02,000 --> 00:03:05,240
Speaker 1: There's been quite a few deals in recent months, reversing

59
00:03:05,800 --> 00:03:08,360
Speaker 1: you would say, some of the sluggishness of the past

60
00:03:08,360 --> 00:03:08,799
Speaker 1: few years.

61
00:03:08,960 --> 00:03:11,079
Speaker 2: Yeah. So the big one, of course is Santos, a

62
00:03:11,160 --> 00:03:13,440
Speaker 2: middle Eastern consort HIM has made a thirty six point

63
00:03:13,480 --> 00:03:15,680
Speaker 2: four billion dollar bid. The group, led by the Abu

64
00:03:15,760 --> 00:03:19,000
Speaker 2: Dhabi National Oil Co, is in the middle of due diligence.

65
00:03:19,080 --> 00:03:21,519
Speaker 2: Everyone is waiting on that one. There's been a few

66
00:03:21,520 --> 00:03:24,840
Speaker 2: media reports about the fact that they could actually get

67
00:03:24,840 --> 00:03:26,760
Speaker 2: across the line. That's what all sorts of Foreign Investment

68
00:03:26,800 --> 00:03:30,720
Speaker 2: Review Board barnacles on it. A bunch of resource stocks

69
00:03:31,200 --> 00:03:34,079
Speaker 2: kind of in lime light. I mean Gold Digger, Amelia's Resources,

70
00:03:34,080 --> 00:03:37,440
Speaker 2: for example's trying to buy Spartan Resources. Soul Pats is

71
00:03:37,440 --> 00:03:39,840
Speaker 2: bidding for Bitworks, It's the two and a half billion

72
00:03:39,840 --> 00:03:43,040
Speaker 2: dollar merger. US property group. Co sign is still to

73
00:03:43,040 --> 00:03:45,480
Speaker 2: finalize it's purchase of domain. I suppose that was late

74
00:03:45,560 --> 00:03:48,440
Speaker 2: last year, so maybe you can't include that. Yesterday Dollar

75
00:03:48,520 --> 00:03:51,560
Speaker 2: Rama finalized its acquisition of the Reject Shops.

76
00:03:51,560 --> 00:03:54,360
Speaker 1: My favorite, that's the Canadian group. Isn't this Yes, yes, yeah?

77
00:03:54,360 --> 00:03:55,960
Speaker 1: That was a ripper, wasn't we That one came out

78
00:03:56,040 --> 00:03:57,280
Speaker 1: just kind of came out of the blue and all

79
00:03:57,360 --> 00:03:59,160
Speaker 1: of a sudden bang, the rejac shop.

80
00:03:59,320 --> 00:04:01,200
Speaker 2: In fact, data and Baine and Co. Shows the value

81
00:04:01,240 --> 00:04:03,320
Speaker 2: of M and A deals globally doubled in the first

82
00:04:03,360 --> 00:04:05,320
Speaker 2: half twenty twenty five in Australia is nowhere here that

83
00:04:05,320 --> 00:04:06,960
Speaker 2: it's about twenty three percent, and a lot of that

84
00:04:07,080 --> 00:04:09,920
Speaker 2: is because of the Santos deal. But yeah, certainly more

85
00:04:09,960 --> 00:04:12,120
Speaker 2: action in the market makes it exciting. Good time to

86
00:04:12,120 --> 00:04:14,440
Speaker 2: have a business podcast, Absolutely, good time to listen to

87
00:04:14,480 --> 00:04:16,479
Speaker 2: a bit of business podcast. So if you have a

88
00:04:16,520 --> 00:04:20,200
Speaker 2: friend who's not listening to us, tell them now's the

89
00:04:20,240 --> 00:04:21,839
Speaker 2: time to start listening to Fear and Green.

90
00:04:21,680 --> 00:04:25,240
Speaker 1: Betty Yet grab their phone, Yes, head along to whether

91
00:04:25,279 --> 00:04:28,400
Speaker 1: it's Apple Podcasts or Spotify, and actually just hit follow

92
00:04:28,480 --> 00:04:30,599
Speaker 1: for them. Yeah, and they'll just double thank you for it.

93
00:04:30,760 --> 00:04:37,040
Speaker 2: Yes, that's exactly right. Jack and I go walking most

94
00:04:37,120 --> 00:04:40,680
Speaker 2: mornings and often we run into a former colleague of

95
00:04:41,160 --> 00:04:45,960
Speaker 2: Jackie's called Catherine, and she says to me, she says,

96
00:04:46,000 --> 00:04:49,320
Speaker 2: I'm listening to you like on her air pods as

97
00:04:49,320 --> 00:04:52,280
Speaker 2: she's talking to me, and she's always slightly I think

98
00:04:52,279 --> 00:04:56,400
Speaker 2: she's disappointed when she sees me sound better than I look. Sorry, Catherine,

99
00:04:56,400 --> 00:04:58,720
Speaker 2: if you're listening to this this morning, don't take it personally.

100
00:04:58,800 --> 00:05:00,520
Speaker 2: I think it's great you're listening.

101
00:05:00,720 --> 00:05:02,239
Speaker 1: Let you sound younger, do you reckon?

102
00:05:02,360 --> 00:05:03,600
Speaker 2: Maybe that's it? Maybe that's it.

103
00:05:03,880 --> 00:05:06,640
Speaker 1: Just doesn't quite live up to the hype, sorry, Catherine.

104
00:05:06,800 --> 00:05:10,520
Speaker 1: Now shown the big banks were dumped yesterday, with Commonwealth

105
00:05:10,560 --> 00:05:14,480
Speaker 1: Bank dropping three percent, which are obviously given its size.

106
00:05:14,600 --> 00:05:17,480
Speaker 1: It's massive size. It took thirty points really off the

107
00:05:17,560 --> 00:05:19,160
Speaker 1: s and PA s X two hundred index.

108
00:05:19,240 --> 00:05:21,080
Speaker 2: Yes, so the Boss would have been up, but in

109
00:05:21,120 --> 00:05:23,320
Speaker 2: the end it closed flat or is up zero point

110
00:05:23,360 --> 00:05:25,640
Speaker 2: one percent to eighty six hundred and seventy seven points

111
00:05:25,680 --> 00:05:28,360
Speaker 2: on the back of Commonwealth Bank. Now the other banks

112
00:05:28,360 --> 00:05:30,920
Speaker 2: were also lower. The big miners and healthcare stocks did well.

113
00:05:30,920 --> 00:05:32,880
Speaker 2: We've been talking about this trend for a little bit now.

114
00:05:33,200 --> 00:05:34,800
Speaker 2: The iron ore stocks did well on the back of

115
00:05:34,920 --> 00:05:38,800
Speaker 2: China's new mega hydro DM We spoke about that yesterday morning.

116
00:05:38,920 --> 00:05:41,360
Speaker 2: That's my favorite infrastructure project around the place at the moment.

117
00:05:41,800 --> 00:05:45,159
Speaker 1: Five dams. It's hard to beat. Shit size.

118
00:05:45,480 --> 00:05:47,680
Speaker 2: BHP was up more than two percent, Rare Tintil and

119
00:05:47,720 --> 00:05:50,200
Speaker 2: Fortes few middle is about three percent. Blueescovers also up

120
00:05:50,240 --> 00:05:52,880
Speaker 2: three percent. Among the healthcare stocks, says so three and

121
00:05:52,880 --> 00:05:56,680
Speaker 2: a half per cent. Promedicus and Resiment also outperformed the

122
00:05:56,760 --> 00:05:57,560
Speaker 2: Reserve Bank.

123
00:05:58,080 --> 00:06:01,440
Speaker 1: Sean Yes, like these would have to be some of

124
00:06:01,480 --> 00:06:07,040
Speaker 1: the most anticipated minutes of the Reserve Bank. Ever, I

125
00:06:07,080 --> 00:06:10,520
Speaker 1: was going to say this year, but forever, let's gale

126
00:06:10,560 --> 00:06:13,360
Speaker 1: it up. They opted to keep interest rates on whold

127
00:06:13,400 --> 00:06:16,640
Speaker 1: two weeks ago because of signs of inflation in monthly data,

128
00:06:17,400 --> 00:06:21,600
Speaker 1: a resilient jobs market and a slight pickup in spending.

129
00:06:21,880 --> 00:06:26,040
Speaker 2: Yeah, I don't reckon it cuts it and spending, resilient

130
00:06:26,120 --> 00:06:28,920
Speaker 2: jobs market, signs of inflation in the monthly data.

131
00:06:29,000 --> 00:06:33,320
Speaker 1: No, you'd expect something for such a surprising decision from

132
00:06:33,320 --> 00:06:36,080
Speaker 1: the Reserve Bank Board. You would expect more around the

133
00:06:36,120 --> 00:06:36,880
Speaker 1: breaking stuff.

134
00:06:37,120 --> 00:06:40,279
Speaker 2: Good news, oh, Michael, is that rates will four and

135
00:06:40,520 --> 00:06:46,159
Speaker 2: the board actually says that current settings are mildly restrictive.

136
00:06:46,920 --> 00:06:48,880
Speaker 2: So you don't want to be like ultimately you want

137
00:06:48,880 --> 00:06:51,880
Speaker 2: to be neutral. Yeah, you know, neither four or again.

138
00:06:52,400 --> 00:06:54,760
Speaker 2: The board minutes say, I quite all members agreed that,

139
00:06:54,800 --> 00:06:57,520
Speaker 2: based on the information currently available, the outlook was for

140
00:06:57,680 --> 00:07:01,799
Speaker 2: underlying inflation to decline further in the ended terms, warranting

141
00:07:01,880 --> 00:07:05,120
Speaker 2: some additional reduction in interest rates over time. That's the

142
00:07:05,120 --> 00:07:08,080
Speaker 2: good news. The bank also said global uncertainty weighed on

143
00:07:08,200 --> 00:07:11,400
Speaker 2: its thinking, and the board judge it could afford to

144
00:07:11,440 --> 00:07:15,920
Speaker 2: wait for a quarterly inflation report. Unemployment figures and evidence

145
00:07:16,040 --> 00:07:19,040
Speaker 2: as to the direction of the global economy. That's all

146
00:07:19,080 --> 00:07:21,000
Speaker 2: well and good, but you know, just cut rates, would you?

147
00:07:21,240 --> 00:07:24,320
Speaker 1: Yeah, well said just cut rates, go out of the

148
00:07:24,360 --> 00:07:26,600
Speaker 1: mouth of Sean Aylmer. Just hurry up and get it

149
00:07:26,640 --> 00:07:30,360
Speaker 1: done now, Sean. It's Wednesday, obviously, which means that it

150
00:07:30,440 --> 00:07:32,720
Speaker 1: is time for business by numbers. The top three numbers

151
00:07:32,720 --> 00:07:34,600
Speaker 1: to know for the week, brought to you by zero

152
00:07:34,960 --> 00:07:41,239
Speaker 1: zero dot com slash au. The first number sixteen percent

153
00:07:41,680 --> 00:07:42,800
Speaker 1: or thirty billion dollars.

154
00:07:43,200 --> 00:07:44,520
Speaker 2: You have an option on this one.

155
00:07:44,840 --> 00:07:47,320
Speaker 1: I'm going to go the thirty billion dollars. It sounds

156
00:07:47,320 --> 00:07:47,920
Speaker 1: more dramatic.

157
00:07:48,400 --> 00:07:51,160
Speaker 2: That's the rise in the value of BHP share price

158
00:07:51,960 --> 00:07:57,119
Speaker 2: over the past month. Wow, Common Bank down ten percent

159
00:07:57,120 --> 00:07:59,720
Speaker 2: in that period. It's the big switch, the big switch.

160
00:08:00,040 --> 00:08:02,960
Speaker 1: Yeah. Number two is three point three billion dollars.

161
00:08:03,120 --> 00:08:05,840
Speaker 2: Well, we talked about it, the bid for Insignia Financial,

162
00:08:05,840 --> 00:08:08,760
Speaker 2: one of the country's biggest financial advisory groups. Outside that

163
00:08:08,840 --> 00:08:12,920
Speaker 2: Santos bid, that's the largest bid this half year.

164
00:08:13,120 --> 00:08:15,400
Speaker 1: And finally, forty three percent.

165
00:08:16,560 --> 00:08:18,840
Speaker 2: We haven't got through this story yet. It's the estimated

166
00:08:18,840 --> 00:08:24,960
Speaker 2: proportion of car sales Chinese manufacturers will own in Australia

167
00:08:25,360 --> 00:08:28,320
Speaker 2: by twenty thirty five. We'll talk a bit more about

168
00:08:28,320 --> 00:08:29,120
Speaker 2: that in a moment.

169
00:08:28,880 --> 00:08:31,200
Speaker 1: And teasing us. Okay, quick break, We'll be back in

170
00:08:31,200 --> 00:08:39,080
Speaker 1: a moment with the rest of the day's business news.

171
00:08:39,800 --> 00:08:43,240
Speaker 1: Sean Federal Parliament kicked off yesterday, starting with a church

172
00:08:43,280 --> 00:08:47,440
Speaker 1: service attended by Prime Minister Anthony Aberzi and Opposition Leader

173
00:08:47,480 --> 00:08:50,319
Speaker 1: Susan Lee. Then there was a welcome to country. Then

174
00:08:50,520 --> 00:08:53,160
Speaker 1: Lower House MPs were sworn in by High Court Justice

175
00:08:53,160 --> 00:08:57,240
Speaker 1: Michelle Gordon, and then finally the forty eighth Parliament was

176
00:08:57,280 --> 00:08:58,320
Speaker 1: declared open.

177
00:08:58,520 --> 00:09:02,160
Speaker 2: It was very much a day of ceremony. Governor General

178
00:09:02,160 --> 00:09:06,080
Speaker 2: cm mouston said productivity boosting infrastructure projects will be a

179
00:09:06,200 --> 00:09:09,600
Speaker 2: priority for the Federal government, particularly those that focus on decarbonization.

180
00:09:10,120 --> 00:09:13,160
Speaker 2: Labor Member for Oxley and former House Speaker Milton Dick

181
00:09:13,600 --> 00:09:18,360
Speaker 2: was returned as Speaker, once again unopposed, in a nice

182
00:09:18,360 --> 00:09:21,800
Speaker 2: bit of bipartisanship. The second of the motion was the

183
00:09:21,920 --> 00:09:25,280
Speaker 2: Nats Michael McCormick Green's leader Larissa Waters. I thought we'd

184
00:09:25,280 --> 00:09:28,840
Speaker 2: better mention her because you know, Adam Bant ain't there anymore.

185
00:09:29,000 --> 00:09:31,600
Speaker 2: Larisa Waters is the Green's leader. She says she's excited

186
00:09:31,600 --> 00:09:34,800
Speaker 2: about the party's opportunities in the Parliament, given they will

187
00:09:34,800 --> 00:09:36,920
Speaker 2: hold the balance of power in the Senate. Of course,

188
00:09:36,960 --> 00:09:38,520
Speaker 2: the battle really kicks off today.

189
00:09:38,760 --> 00:09:41,160
Speaker 1: Nice bit of bipartisanship yesterday. How long do you reckon?

190
00:09:41,160 --> 00:09:42,080
Speaker 1: That's going to last?

191
00:09:42,240 --> 00:09:44,079
Speaker 2: About two pm today when question time starts.

192
00:09:44,080 --> 00:09:47,600
Speaker 1: All right, let the games begin. Sean, Australia, Britain, Japan,

193
00:09:47,840 --> 00:09:50,840
Speaker 1: twenty two other countries as well, including many European nations,

194
00:09:50,880 --> 00:09:53,200
Speaker 1: have called for an end to the war in Gaza.

195
00:09:53,240 --> 00:09:55,319
Speaker 1: In a joint statement issued yesterday morning.

196
00:09:55,440 --> 00:09:58,400
Speaker 2: It's an escalation in the Allies urgency around what's happening

197
00:09:58,440 --> 00:10:00,960
Speaker 2: in the region. The Foreign Minister's statement says the suffering

198
00:10:01,040 --> 00:10:04,200
Speaker 2: of civilians in Gaza has reached new depths. It condemns

199
00:10:04,240 --> 00:10:07,160
Speaker 2: the drip feeding of aid and the inhumane killing of civilians,

200
00:10:07,360 --> 00:10:10,280
Speaker 2: including children, seeking to meet their most basic needs of

201
00:10:10,320 --> 00:10:13,240
Speaker 2: water and food. Notably absent from the statement is the

202
00:10:13,360 --> 00:10:16,920
Speaker 2: US and Germany. Mike Huckabee, US Ambassador to Israel called

203
00:10:17,000 --> 00:10:18,839
Speaker 2: the joint statement disgusting.

204
00:10:19,160 --> 00:10:21,960
Speaker 1: Now you mentioned this next one earlier. Sewn Chinese car

205
00:10:22,000 --> 00:10:25,560
Speaker 1: brands are set to comprise almost half of new vehicles

206
00:10:25,600 --> 00:10:28,040
Speaker 1: sold in Australia within a decade, which would be the

207
00:10:28,080 --> 00:10:33,160
Speaker 1: biggest shakeup in the sector since Japanese manufacturers overtook Holden

208
00:10:33,320 --> 00:10:35,120
Speaker 1: as the country's most popular cars.

209
00:10:35,200 --> 00:10:38,040
Speaker 2: By twenty thirty five, forty three percent of cars imported

210
00:10:38,080 --> 00:10:40,280
Speaker 2: into the country will come from China, according to the

211
00:10:40,320 --> 00:10:43,200
Speaker 2: Center for International Economics. They currently make up about seventeen

212
00:10:43,200 --> 00:10:45,400
Speaker 2: percent of sales. This is all in a report in

213
00:10:45,440 --> 00:10:48,480
Speaker 2: the fin Review. Ten years ago, no cars were imported

214
00:10:48,520 --> 00:10:52,440
Speaker 2: from China, so pretty remarkable to have twenty over twenty

215
00:10:52,520 --> 00:10:54,800
Speaker 2: year period to go from zero to forty three percent.

216
00:10:55,120 --> 00:10:57,120
Speaker 2: Japan had the biggest year ten years ago at twenty

217
00:10:57,200 --> 00:11:01,000
Speaker 2: nine percent. Today it's about thirty two percent. It's forecast

218
00:11:01,040 --> 00:11:04,040
Speaker 2: to fall back to twenty two percent. Importantly, Chinese carmakers

219
00:11:04,080 --> 00:11:07,280
Speaker 2: are at the forefront of the shift towards electric vehicles,

220
00:11:07,720 --> 00:11:14,880
Speaker 2: so big manufacturers like byd Geely Cherry, they're expanding very aggressively,

221
00:11:15,000 --> 00:11:17,080
Speaker 2: not only in Australia, but in Europe and the United

222
00:11:17,120 --> 00:11:20,520
Speaker 2: States as well. Gen There already twenty three Chinese brands

223
00:11:20,640 --> 00:11:23,960
Speaker 2: available for sale in Australia or at least have confirmed

224
00:11:24,000 --> 00:11:24,640
Speaker 2: launch plans.

225
00:11:24,760 --> 00:11:27,400
Speaker 1: I don't think I've ever seen a time when you

226
00:11:27,400 --> 00:11:29,000
Speaker 1: can be out on the road and you can see

227
00:11:29,040 --> 00:11:31,360
Speaker 1: a car brand that you've never heard of before. I agree,

228
00:11:31,360 --> 00:11:33,400
Speaker 1: I'm driving along going what is that? And then you

229
00:11:33,400 --> 00:11:35,600
Speaker 1: look it up and then you suddenly see ten more

230
00:11:35,600 --> 00:11:36,760
Speaker 1: over the next three lates.

231
00:11:36,880 --> 00:11:37,120
Speaker 2: Yeah.

232
00:11:37,679 --> 00:11:41,640
Speaker 1: Now, radio ratings Sean came out yesterday and finally a

233
00:11:41,720 --> 00:11:44,160
Speaker 1: little bit of good news for Kiss FM's Kyle and

234
00:11:44,240 --> 00:11:47,880
Speaker 1: Jackie O breakfast show, which is based in Sydney has

235
00:11:47,880 --> 00:11:51,720
Speaker 1: been broadcasting into Melbourne now for eighteen months. There was

236
00:11:51,760 --> 00:11:53,559
Speaker 1: a slight rise in Melbourne.

237
00:11:53,679 --> 00:11:55,360
Speaker 2: Yes, it's a two in a million dollars ten year

238
00:11:55,400 --> 00:11:58,880
Speaker 2: gamble from Kiss owner arn Media doing the same breakfast

239
00:11:58,880 --> 00:12:00,880
Speaker 2: show for Sidney Melbourne, as you know better than I

240
00:12:01,040 --> 00:12:05,319
Speaker 2: ever would. That's never really succeeded. It hasn't paid off yet,

241
00:12:05,360 --> 00:12:08,640
Speaker 2: although the duo do remain the number one FM program

242
00:12:08,640 --> 00:12:11,000
Speaker 2: in Sydney. The good news yesterday was that their Melbourne

243
00:12:11,040 --> 00:12:13,360
Speaker 2: ratings rose zero point five points to five point six

244
00:12:13,400 --> 00:12:17,440
Speaker 2: percent audience share. That's the highest it's been in Melbourne.

245
00:12:17,520 --> 00:12:19,960
Speaker 2: Three aw's Ross and Russell won their time slot, though

246
00:12:20,000 --> 00:12:22,839
Speaker 2: their ratings fell. Overall, three AW fell from number one

247
00:12:22,880 --> 00:12:25,720
Speaker 2: station to number two, eclipsed by Gold one oh four

248
00:12:25,760 --> 00:12:29,000
Speaker 2: point three in Sydney. The other big market, tgb's ben

249
00:12:29,080 --> 00:12:32,560
Speaker 2: Fordham Holsey Breakfast Crown, though his ratings fell in that market,

250
00:12:32,640 --> 00:12:34,800
Speaker 2: TWGB came in second behind Smooth FM.

251
00:12:35,080 --> 00:12:39,080
Speaker 1: Okay. Turning to international news now Sean and Donald Trump's presidency,

252
00:12:40,040 --> 00:12:43,360
Speaker 1: it's just six months old. Doesn't it feel like the

253
00:12:43,400 --> 00:12:46,520
Speaker 1: amount that we have discussed him over the last six months,

254
00:12:46,520 --> 00:12:48,480
Speaker 1: it feels like we've been doing it for years. And

255
00:12:48,600 --> 00:12:51,760
Speaker 1: voter's opinion of him is sliding, with an average of

256
00:12:51,760 --> 00:12:54,040
Speaker 1: polls tracked by The New York Times showing his approval

257
00:12:54,120 --> 00:12:56,080
Speaker 1: rating has gone from fifty two percent at the time

258
00:12:56,160 --> 00:12:59,840
Speaker 1: of his inauguration in January to forty four percent today.

259
00:13:00,080 --> 00:13:03,240
Speaker 2: In July twenty CBSU gave Pohl had Trump's approval rating

260
00:13:03,240 --> 00:13:05,839
Speaker 2: at forty two percent, down from forty five percent in

261
00:13:05,920 --> 00:13:08,080
Speaker 2: June forty seven percent in April. So that's trending, Laura

262
00:13:08,160 --> 00:13:11,240
Speaker 2: as well. He celebrated his six months in office over

263
00:13:11,240 --> 00:13:15,040
Speaker 2: the weekend. He posted clips of people praising him. There's

264
00:13:15,040 --> 00:13:16,959
Speaker 2: a slow motion video of montages of him.

265
00:13:16,960 --> 00:13:17,600
Speaker 1: Did you see that one?

266
00:13:17,720 --> 00:13:21,559
Speaker 2: No, I didn't particularly good. But what's interesting he's critics

267
00:13:21,640 --> 00:13:24,760
Speaker 2: gaining momentum on the back of the Jeffrey Epstein saga.

268
00:13:25,200 --> 00:13:28,720
Speaker 2: His bass the Magabase wants him to release more information

269
00:13:28,720 --> 00:13:32,160
Speaker 2: about the disgraced financier. Now, Trump is a great distractor,

270
00:13:32,400 --> 00:13:34,800
Speaker 2: He's brilliant at it, and when something else comes up,

271
00:13:34,800 --> 00:13:36,160
Speaker 2: he just seems to be able to move on to

272
00:13:36,200 --> 00:13:40,559
Speaker 2: get people to think about something else that isn't happening

273
00:13:40,640 --> 00:13:43,800
Speaker 2: with Epstein. So what he did over the weekend, for example,

274
00:13:43,800 --> 00:13:46,920
Speaker 2: he pushed out what appears to be an artificial artificial

275
00:13:46,960 --> 00:13:50,959
Speaker 2: intelligence produced a video of Barack Obama being arrested by

276
00:13:51,080 --> 00:13:53,679
Speaker 2: FBI agents in the Oval Office in twenty sixteen. As

277
00:13:53,720 --> 00:13:58,920
Speaker 2: Trump grins, I mean, clearly made art, but he's pushing

278
00:13:58,960 --> 00:14:01,840
Speaker 2: it out. He also called on professional baseball and football

279
00:14:01,880 --> 00:14:05,199
Speaker 2: teams to revert to their previous nicknames, which are generally

280
00:14:05,360 --> 00:14:10,280
Speaker 2: now considered racial slurs. For example, the FEDS are providing

281
00:14:10,320 --> 00:14:14,120
Speaker 2: money to the NFL team, the Washington Commanders, used to

282
00:14:14,120 --> 00:14:17,199
Speaker 2: be known as Washington Redskins. Trump has said, we won't

283
00:14:17,200 --> 00:14:19,720
Speaker 2: provide the money unless you change your name from Commanders

284
00:14:19,880 --> 00:14:25,760
Speaker 2: back to Redskin. So these sorts of social media, it

285
00:14:25,920 --> 00:14:29,440
Speaker 2: sort of takes people away from the main game, and

286
00:14:29,480 --> 00:14:32,480
Speaker 2: he's brilliant at doing it. But the Jeffrey Epstein thing

287
00:14:32,520 --> 00:14:33,520
Speaker 2: seems to be hanging around.

288
00:14:33,600 --> 00:14:37,920
Speaker 1: Yeah, it does, Sean. Hackers exploited a security flaw in

289
00:14:37,960 --> 00:14:42,200
Speaker 1: common Microsoft software to breach governments, businesses, and other organizations

290
00:14:42,200 --> 00:14:44,240
Speaker 1: around the world and steal sensitive information.

291
00:14:44,480 --> 00:14:47,800
Speaker 2: Microsoft released a patch over the weekend for the vulnerability

292
00:14:47,800 --> 00:14:51,440
Speaker 2: and servers of the SharePoint document management software. According to Bloomberg,

293
00:14:51,520 --> 00:14:54,240
Speaker 2: The company said it's still working to roll out other

294
00:14:54,320 --> 00:14:58,320
Speaker 2: fixes after warnings that hackers were targeting SharePoint clients using

295
00:14:58,360 --> 00:15:01,520
Speaker 2: the floor to enter file systems and ex code. The hackers,

296
00:15:01,520 --> 00:15:04,400
Speaker 2: who so far have not been identified, have already used

297
00:15:04,400 --> 00:15:06,480
Speaker 2: the floor to break into the systems of national governments

298
00:15:06,480 --> 00:15:08,920
Speaker 2: in Europe and the Middle East, and to breach government

299
00:15:08,960 --> 00:15:10,560
Speaker 2: agencies in US States.

300
00:15:11,120 --> 00:15:14,560
Speaker 1: Now the interview today Sean coming up next after the

301
00:15:14,600 --> 00:15:19,840
Speaker 1: show A little bit different, right, because you are speaking

302
00:15:19,920 --> 00:15:24,160
Speaker 1: with a serial entrepreneur, a very successful gentleman by the

303
00:15:24,280 --> 00:15:25,800
Speaker 1: name of Dori Kudahi.

304
00:15:26,280 --> 00:15:30,040
Speaker 2: Yes, Dorry's a man I've known for about twenty five.

305
00:15:29,880 --> 00:15:31,240
Speaker 1: Years and when I.

306
00:15:31,240 --> 00:15:34,240
Speaker 2: Used to run bow in the Rich List, his name

307
00:15:34,320 --> 00:15:36,880
Speaker 2: appeared on it. He was on the Young Rich List

308
00:15:36,920 --> 00:15:39,560
Speaker 2: at the age of thirty six, and that was probably

309
00:15:39,600 --> 00:15:42,000
Speaker 2: twenty years or twenty five years ago. He's gone on

310
00:15:42,200 --> 00:15:46,080
Speaker 2: basically merchandising DK and blues his business. He's now into

311
00:15:46,080 --> 00:15:49,760
Speaker 2: Swinky socks. He's also owned part of the Sydney Kings

312
00:15:49,960 --> 00:15:53,360
Speaker 2: NBL team, the basketball team and the Illawora Hawks basketball team.

313
00:15:53,720 --> 00:15:55,360
Speaker 2: We're just ask him about how he does it all

314
00:15:55,440 --> 00:15:56,080
Speaker 2: really Yeah.

315
00:15:56,120 --> 00:15:59,240
Speaker 1: My favorite part is that he bought a very large

316
00:15:59,320 --> 00:16:01,840
Speaker 1: yacht now now rents that out as well.

317
00:16:02,160 --> 00:16:06,040
Speaker 2: My favorite part was he admitted that actually Shivers Regal

318
00:16:06,280 --> 00:16:08,400
Speaker 2: had asked him to be part of an advertising campaign

319
00:16:08,400 --> 00:16:09,440
Speaker 2: because he loves his whiskey.

320
00:16:09,600 --> 00:16:11,320
Speaker 1: Yeah, it's fantastic. He's living the dream.

321
00:16:11,360 --> 00:16:12,080
Speaker 2: He's living the dream.

322
00:16:12,160 --> 00:16:14,480
Speaker 1: It is a great good man. Yeah, it was really

323
00:16:14,480 --> 00:16:16,360
Speaker 1: good of him to come into the studio and share

324
00:16:16,400 --> 00:16:19,480
Speaker 1: some of his wisdom. That is coming up next in

325
00:16:19,480 --> 00:16:21,680
Speaker 1: the Fear and Greed playlist on your podcast platform or

326
00:16:21,720 --> 00:16:23,960
Speaker 1: at Fearangreed dot com dot a you and don't forget

327
00:16:24,000 --> 00:16:26,480
Speaker 1: to sign up for the Fear and Greed Daily newsletter.

328
00:16:26,520 --> 00:16:28,520
Speaker 1: It is entirely free. I'll put a link in today's

329
00:16:28,520 --> 00:16:30,400
Speaker 1: show notes and it just gives you everything you need

330
00:16:30,440 --> 00:16:34,080
Speaker 1: to know in your inbox by six am every day,

331
00:16:34,120 --> 00:16:36,880
Speaker 1: so you'll arrive at work ready to go. Thank you, Sean,

332
00:16:36,960 --> 00:16:39,720
Speaker 1: Thank you Michael Wednesday, the twenty third of July twenty

333
00:16:39,760 --> 00:16:41,800
Speaker 1: twenty five. Make sure you're following the podcast and please

334
00:16:41,840 --> 00:16:44,720
Speaker 1: join us online on LinkedIn, Instagram, ex TikTok and Facebook.

335
00:16:44,720 --> 00:16:46,720
Speaker 1: I'm Michael Thompson and that was fear and greed. Have

336
00:16:46,760 --> 00:16:47,280
Speaker 1: a great day.