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

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Speaker 1: gold prices climb as US President Donald Trump spooks investors,

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Speaker 1: A and Z prepares to cut potentially thousands of jobs

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Speaker 1: as part of a major restructure, and the Consumer Watchdog

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Speaker 1: goes after an alleged vegetable cartel Plus Tesla prepares to

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Speaker 1: launch its self driving feature in Australia and the Netherlands

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Speaker 1: shows the world what the four day workweek can look like.

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Speaker 1: It is Tuesday, the second of September twenty twenty five.

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Speaker 1: I'm Michael Thompson and good morning Natalie McDonald.

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Speaker 2: Good morning, Michael, Natalie.

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Speaker 1: The main story this morning local gold stocks have soared

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Speaker 1: as investors flood into the precious metal amid concerns out

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Speaker 1: of the US over the Fed's independence and potential policy

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Speaker 1: shifts from the US President. Now keep in mind this

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Speaker 1: is a long weekend in the US. Wall Street is

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Speaker 1: closed for the Labor Day holiday, but even so should

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Speaker 1: be relaxing, but the President has managed to stir things up.

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Speaker 2: Taking to his Truth social network to share the US

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Speaker 2: President said, and I'm giving you the full quote here.

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Speaker 2: Prices are way down. Important to add this is caps

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Speaker 2: lock in the USA with virtually no inflation, with the

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Speaker 2: exception of ridiculous, corrupt, politician approved windmills which are killing

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Speaker 2: every state and country that uses them. Energy prices are

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Speaker 2: falling big time. Gasoline is at many year lows. All

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Speaker 2: of this despite magnificent tariffs which are bringing in trillions

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Speaker 2: of dollars from countries that took total advantage of US

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Speaker 2: for decades and are making America strong also in caps

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Speaker 2: and respected again also in caps and three exclamation marks.

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Speaker 2: This seemed to rattle investors, and plenty of money went

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Speaker 2: looking for a safe haven, and they found it, as

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Speaker 2: they often do in gold, the comments sending gold to

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Speaker 2: hover just below three thy five hundred US dollars an ounce,

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Speaker 2: near April's record. We also saw it flow through to

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Speaker 2: the local market as well, with gold company share prices rising.

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Speaker 2: Capricor Metals rallied almost twelve percent, similarly for Genesis Minerals,

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Speaker 2: while shares in Northern Star rose just over six percent

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Speaker 2: and numont up three percent to one hundred and fifteen

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Speaker 2: dollars and thirty four cents.

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Speaker 1: Did you just see that there are all those rumors

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Speaker 1: that the president had died and this was because and

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Speaker 1: this was reported in respected media organizations, just about the speculation,

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Speaker 1: the fact that because he is so prominent on social

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Speaker 1: media and does a lot of public appearances pretty much

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Speaker 1: every day, the fact that he had a couple of

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Speaker 1: days off when no one saw him and he was

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Speaker 1: just sending out tweets instead or things on truth social

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Speaker 1: There was all of these rumors circulating that he had

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Speaker 1: that he was either gravely ill or was in fact dead,

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Speaker 1: and it wasn't until he was spotted on the golf course,

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Speaker 1: of course, as he often is, that it put the

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Speaker 1: rumors to rumors to bed clearly. Then came back with

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Speaker 1: a vengeance with that particular post on social I'll show

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Speaker 1: you yeah. Now Australia's former finance minister and now the

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Speaker 1: OECD chief, Mattias Corman. So it's got a very prominent

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Speaker 1: international role here. He's taken aim at China's industrial subsidies

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Speaker 1: and he's given Donald Trump's trade antics a bit of

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Speaker 1: a side eye.

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Speaker 2: Speaking in Melbourne, he warned that global trade trust is slipping,

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Speaker 2: with Chinese firms grabbing market share and steel, solar semiconductors

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Speaker 2: and more at the expense of Australian businesses. He also

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Speaker 2: employed a rebuke of Donald Trump's tariffs, warning that global

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Speaker 2: trade faces lost trust and unfair practices.

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Speaker 1: Now, I mentioned that we talk about Matias Corman and

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Speaker 1: the OECD because there is a lot going on in

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Speaker 1: global politics right now, and a lot of it is

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Speaker 1: feeding back into this market uncertainty as to why we've

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Speaker 1: seen gold rising over the last couple of days. In China.

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Speaker 1: At the moment, we've got China's President Jijiinping and Indian

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Speaker 1: Prime Minister Nearendra Modi who have met on the sidelines

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Speaker 1: of the Shanghai Cooperation Organization. It is Mody's first time

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Speaker 1: in China in seven years and comes after really there

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Speaker 1: was a big falling out between the US and India

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Speaker 1: over tariffs, and so we are seeing these tighter relations

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Speaker 1: between China and India, better relations than we've seen in

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Speaker 1: a long time between the two nations.

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Speaker 2: You're totally right. She told Mody that China and India

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Speaker 2: should be partners, not rivals. Will Moody said there was

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Speaker 2: now an atmosphere of peace and stability between them. President

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Speaker 2: she also condemning what he's labeled bullying behavior by other

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Speaker 2: countries and urged attendees of the summit to oppose Cold

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Speaker 2: War mentality. Well, Russian leader Vladimir Putin, who's also there,

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Speaker 2: blamed the West for the war in Ukraine.

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Speaker 1: Yeah, I think the line from g to Mody was

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Speaker 1: something along the lines of it is important for the

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Speaker 1: dragon and the elephant to come together. Like wow, that's

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Speaker 1: it's quite a powerful image that one. Now, local markets,

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Speaker 1: we've already talked about gold stocks. How did the rest

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Speaker 1: of the boss go?

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Speaker 2: The Local Boss dropped to a two week low, with

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Speaker 2: the S ANDP air SX two hundred falling forty five

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Speaker 2: points to eighty nine hundred and twenty seven. XOX led

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Speaker 2: seven of eleven sectors lower. As we mentioned, goalplayers soared,

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Speaker 2: while we saw tech stocks shifting slightly lower wise. Tech

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Speaker 2: Global off three and a half percent, zero down four percent.

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Speaker 1: Now, I mentioned in the introduction this story about A

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Speaker 1: and Z. The bank will reportedly cut thousands of jobs

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Speaker 1: as new chief executive Nunomatos accelerates what is becoming a

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Speaker 1: radical race structure aimed at simplifying operations and removing duplication.

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Speaker 2: The move follows last week's shock redundancies, when senior managers

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Speaker 2: received automated emails directing them to return laptops, alongside warnings

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Speaker 2: that failing to attend the office could reduce bonuses. While

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Speaker 2: the total number of cuts hasn't been finalized, media outlet

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Speaker 2: Capital Brief is reporting it could be as many as

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Speaker 2: five thousand rolls, with the bank reviewing its retail division,

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Speaker 2: with more changes possible ahead of an October strategy update.

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Speaker 2: An A and Z spokesperson said the changes would reduce complexity,

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Speaker 2: improve efficiency and strength and risk management while focusing on

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Speaker 2: customer needs. But five thousand, Michael, is a huge number.

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Speaker 1: Yeah, it certainly is. All right, let's take a quick break.

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Speaker 1: We'll be back in a moment with the rest of

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Speaker 1: the day's business news. Natalie the a Triple C, the

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Speaker 1: consumer watchdog, has launched federal court action against four major

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Speaker 1: vegetable suppliers, alleging they ran a cartel to fix prices

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Speaker 1: of household staples sold in ALDI stores across New South Wales,

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Speaker 1: Victoria and Queensland from twenty eighteen to twenty twenty four,

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Speaker 1: so quite a long running thing.

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Speaker 2: Allegedly, the case centers on agile pricing agreements, where suppliers

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Speaker 2: allegedly coordinated weekly quotes for vegetables including broccoli, cauliflower, iceberg, lettuce, cucumbers,

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Speaker 2: Brussels sprouts and zucchini. So quite the shopping list. The

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Speaker 2: a trible c alleges twenty eight price fixing arrangements and

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Speaker 2: forty eight coordinated submissions to Aldi. Aldi is not accused

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Speaker 2: of any wrongdoing here, I should add the case comes

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Speaker 2: amid broader scrutiny of supermarket pricing practices. Calls and Wilworths

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Speaker 2: are also facing legal action.

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Speaker 1: I just love that story because we finally get to

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Speaker 1: talk about vegetable cartels. It's really making Brussels sprout sexy,

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Speaker 1: isn't it. We've we've come.

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Speaker 2: From earning season most volatile in years to Brussels.

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Speaker 1: Sprouts with cauliflower and iceberg letters. Hooboy okay. Tesla is

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Speaker 1: preparing to launch its full self driving feature in Australia.

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Speaker 1: The company says the feature is quite very close to

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Speaker 1: being made available on right hand drive cars, which of

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Speaker 1: course is what we've got here.

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Speaker 2: The rollout comes despite mounting lawsuits and safety concerns overseas,

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Speaker 2: including a three hundred and seventy five million dollar payout

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Speaker 2: following a fatal autopilot crash in Florida back in twenty nineteen.

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Speaker 2: Critics are arguing that Tesla and CEO Elon Musk have

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Speaker 2: overstated the safety of autopilot, leading drivers ultimately to overrely

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Speaker 2: on the technology. Leech documents and lawsuits have revealed thousands

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Speaker 2: of complaints and raised concerns about misleading share holders. While

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Speaker 2: Tesla is insisting at systems require driver supervision, accidents suggests

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Speaker 2: that safeguards haven't always worked. There's been testing taking place

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Speaker 2: already in Australia, in Brisbane, in fact, showing mixed results

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Speaker 2: vehicles hesitating intersections and nearly colliding with a motorcycle.

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Speaker 1: The new owner of domain, the Real Estate Platform, has

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Speaker 1: laid out how it plans to challenge the market leader

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Speaker 1: Area Group co Star co founder Andy Florence, visitor Demand

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Speaker 1: Sydney headquarters with eighteen executives. That's quite the entourage after

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Speaker 1: finalizing the fifty eight billion dollar company's largest ever acquisition.

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Speaker 2: Three D property mapping, faster site performances, AI powered search,

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Speaker 2: and smaller annual price rises for listings. How's that for starters.

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Speaker 2: The US property tech giant Costar also plans to introduce

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Speaker 2: its commercial real estate data terminal expand three D imaging

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Speaker 2: in Australia and launch suburb video profiles, which could be

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Speaker 2: pretty cool. Structurally, Florence has rehired former Domain CEO Json

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Speaker 2: Pellegrino as president after buying Domain for two point eight

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Speaker 2: billion dollars. Florence isn't seeing Demain as as a fixer upper.

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Speaker 2: There are plans to build multiple companies in Australia, plans

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Speaker 2: that he were outlined to staff in Sydney last week

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Speaker 2: in a four hour presentation. So, Michael, you talk about

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Speaker 2: bringing eighteen exacts along, probably needed it HTCHF.

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Speaker 1: They all got a chance to talk. That is quite

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Speaker 1: the lengthy presentation, Natalie. If you're watching question time in

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Speaker 1: Federal Parliament yesterday, there was one topic that seemed to

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Speaker 1: dominate conversation. It was about aged care, or rather the

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Speaker 1: efforts to assist older Australians at home, and that that

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Speaker 1: push is well, it appears to be in some kind

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Speaker 1: of trouble. A report warns a shortfall of up to

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Speaker 1: one hundred thousand home care packages by November could leave

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Speaker 1: seniors living unsafely, ending up in hospital or forced into

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Speaker 1: residential care prematurely, while more than one hundred and twenty

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Speaker 1: thousand older Australians are still waiting to be assessed for

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Speaker 1: support just to help them then stay at home.

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Speaker 2: The government plans to rule out eighty thousand new packages

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Speaker 2: under the Age Care Act in November, but critics are

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Speaker 2: saying it's not enough. They say the current system relies

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Speaker 2: on senior's vacating spots or even worse, passing away. Advocacy

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Speaker 2: groups and cross bench senators are pushing for urgent action,

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Speaker 2: warning that without faster support, families are struggling to care

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Speaker 2: for loved ones at home and hospitals are picking up

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Speaker 2: the cost. A vote in the Senate is expected to

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Speaker 2: take place this week for the government to release at

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Speaker 2: least twenty thousand extra packages immediately now.

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Speaker 1: Natalie aygu Heffer has sold at auction for three hundred

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Speaker 1: and fifty thousand dollars, which is an awful lot of

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Speaker 1: money and in fact makes it the third most expensive

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Speaker 1: cow in Australia. I mean what can only be described

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Speaker 1: as a bullish outlook.

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Speaker 2: The thirteen month old was purchased by cattle IVF company

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Speaker 2: gene Flow, which plans to collect embryos and produce up

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Speaker 2: to thirty calves annually. Cattle prices are up thirty three

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Speaker 2: percent on last year. Australia is exporting record beef volumes,

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Speaker 2: with the US its biggest customer, buying two hundred and

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Speaker 2: forty six thousand tons so far this year that's up

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Speaker 2: twenty seven percent. A shortage of lean beef for hamburgers

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Speaker 2: and trade restrictions with Mexico and Brazil have driven US

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Speaker 2: reliance on Australian beef, fetching a record eleven dollars twenty

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Speaker 2: four per kilo.

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Speaker 1: Turning to international news now, and Donald Trump has vowed

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Speaker 1: to issue an executive order mandating voter ID in all

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Speaker 1: US elections and severely restricting mail in ballots. Despite the

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Speaker 1: president having no constitutional authority to regulate voting.

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Speaker 2: He's been busy the move, echoing his false claims that

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Speaker 2: the twenty twenty election was stolen. Is expected to face

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Speaker 2: legal challenges and could in fact disenfranchise millions. While thirty

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Speaker 2: six states already require some form of voter ID, studies

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Speaker 2: show fraud is extremely rare, and strict ID laws disproportionately

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Speaker 2: impact minorities, seniors, low income voters, students, and also people

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Speaker 2: with disabilities. The Breton Center estimates eleven percent of eligible

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Speaker 2: voters lack the necessary id with enforcement potentially affecting tens

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Speaker 2: of millions, including the one hundred and forty six million

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Speaker 2: Americans without a passport. In fact, Trump himself has voted

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Speaker 2: by mail, and many states with high mail in turn

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Speaker 2: out supported him back in twenty twenty four. In fact,

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Speaker 2: a June twenty twenty five attempt to mandate proof of

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Speaker 2: citizenship was blocked by a federal.

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Speaker 1: Judge one last one Natalie Amid ongoing discussions around flexible work,

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Speaker 1: the Netherlands is quietly showing the world what a four

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Speaker 1: day week can look like. And the spoiler alert here,

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Speaker 1: I suppose, is that it's not necessarily the economic disaster

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Speaker 1: that critics predict.

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Speaker 2: So on average, Dutch workers put in just thirty two

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Speaker 2: hours a week. That's the shortest in Europe, yet the

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Speaker 2: country remains one of its richest in terms of GDP

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Speaker 2: per head. That's thanks to high productivity and strong employments rates,

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Speaker 2: particularly among women. People in the Netherlands tend to retire

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Speaker 2: fairly late as well. The Financial Times pointing out that

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Speaker 2: this has created a scenario where the work is spread

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Speaker 2: out more across the population because you've got more people

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Speaker 2: in the workforce and also across the life course.

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Speaker 1: Is that or they're just working four days a week,

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Speaker 1: so they've got to work later in life to make

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Speaker 1: up the miss days.

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Speaker 2: That's the spirit. It hasn't solved everything, though, Just don't worry, Michael.

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Speaker 2: I've got a downside for Okay, thank you. Women are

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Speaker 2: still more likely to work part time and hold fewer

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Speaker 2: management roles, and sectors like teaching face labor shortages. But

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Speaker 2: it's also brought about some real benefits. Families are getting

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Speaker 2: more balanced, stress is lower, and Dutch children are rated

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Speaker 2: the happiest in the developed world.

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Speaker 1: All right, Up next is Fear and grad Q and

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Speaker 1: a our guest today Natalie is Roger Montgomery from Montgomery

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Speaker 1: Investment Management. We are talking about earning season amid what

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Speaker 1: has been a very volatile four weeks, and we put

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Speaker 1: to Roger the three lessons. We want three lessons from him?

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Speaker 1: What can we take away from this? And he goes

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Speaker 1: into it in some detail and mentions a hole stack

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Speaker 1: of companies. It is a great one for investors. Stick around.

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Speaker 1: It's coming up in a moment on the Fear and

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

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Speaker 1: com DoD au, which is also where, of course, you

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Speaker 1: sign up for the free daily newsletter. I've put a

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Speaker 1: link in today's show notes as well.

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Speaker 2: Thank you Natalie, Thank you Michael.

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Speaker 1: It is Tuesday, the tewond 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. Have a great day.