1
00:00:06,320 --> 00:00:09,039
Speaker 1: Welcome to Fear and Greed business News. You can use

2
00:00:09,160 --> 00:00:12,440
Speaker 1: today's speculation rises in the share market about the shift

3
00:00:12,520 --> 00:00:15,200
Speaker 1: from investing in the big banks to investing in the

4
00:00:15,240 --> 00:00:18,960
Speaker 1: big resource companies. Foreign Minister Penny Wong says the US

5
00:00:19,079 --> 00:00:22,000
Speaker 1: is keen to schedule a meeting between Prime Minister Anthony

6
00:00:22,000 --> 00:00:27,800
Speaker 1: Abernezi and Donald Trump and Tesla's disappointing sales. Plus Microsoft

7
00:00:27,920 --> 00:00:32,120
Speaker 1: slashes jobs around the world, including in Australia, and Eileen Bond,

8
00:00:32,200 --> 00:00:35,879
Speaker 1: former wife of Alan Bond, dies in Perth. It is Friday,

9
00:00:35,960 --> 00:00:38,760
Speaker 1: the fourth of July twenty twenty five. I'm Michael Thompson

10
00:00:38,800 --> 00:00:42,400
Speaker 1: and good morning, Adam Lang. Good morning, Michael, Adam The

11
00:00:42,400 --> 00:00:45,160
Speaker 1: main story this morning. There is a growing debate among

12
00:00:45,200 --> 00:00:47,839
Speaker 1: investors about the timing of the big switch on the

13
00:00:47,880 --> 00:00:50,559
Speaker 1: AX rotating away from the big banks and into the

14
00:00:50,560 --> 00:00:54,720
Speaker 1: big miners. Investors say there will be a catalyst to

15
00:00:54,840 --> 00:00:59,360
Speaker 1: change sentiment and that could occur at any moment. Bank

16
00:00:59,400 --> 00:01:02,680
Speaker 1: stocks jumped twenty six percent in the twelve months to June,

17
00:01:02,680 --> 00:01:05,759
Speaker 1: helped by a forty five percent rally in Commonwealth Bank

18
00:01:05,840 --> 00:01:09,319
Speaker 1: as superannuation giants, passive funds and offshore managers brought into

19
00:01:09,319 --> 00:01:12,520
Speaker 1: the stock. Buying into Commonwealth Bank took money away from

20
00:01:12,520 --> 00:01:16,080
Speaker 1: the other major sector, being resources, which dropped eight percent

21
00:01:16,480 --> 00:01:19,560
Speaker 1: as the mining behemoths were hit by ongoing weakness in

22
00:01:19,640 --> 00:01:23,039
Speaker 1: China's property market and the iron ore price. There's just

23
00:01:23,240 --> 00:01:25,319
Speaker 1: there's a lot going on here, Michael.

24
00:01:25,360 --> 00:01:28,240
Speaker 2: It's like the changing of the tides. Commonwealth Bank is

25
00:01:28,280 --> 00:01:30,959
Speaker 2: the focus of these discussions. Its share of the s

26
00:01:31,000 --> 00:01:33,759
Speaker 2: and PA SX two hundred has jumped over the past

27
00:01:33,840 --> 00:01:37,160
Speaker 2: year from nine percent to just short of twelve percent,

28
00:01:37,520 --> 00:01:42,520
Speaker 2: and that is significant. According to MST Marquee strategist Hassan Tefvik,

29
00:01:43,080 --> 00:01:45,920
Speaker 2: if CBA were trading at more normal levels, the s

30
00:01:46,000 --> 00:01:50,160
Speaker 2: and PA SX two hundred would fall five percent. CBA's

31
00:01:50,160 --> 00:01:52,960
Speaker 2: success has meant that the fund managers who avoided buying

32
00:01:53,000 --> 00:01:55,400
Speaker 2: the stock or held a smaller waiting than the benchmark

33
00:01:55,400 --> 00:01:59,400
Speaker 2: index they would generally have underperformed. Investors still think the

34
00:01:59,440 --> 00:02:03,440
Speaker 2: country's largest company is overpriced. Most investment bank analysts have

35
00:02:03,480 --> 00:02:06,640
Speaker 2: a cell rutting on CBA shares, but it is risky

36
00:02:06,960 --> 00:02:09,840
Speaker 2: just to shy away from it and out of I

37
00:02:09,880 --> 00:02:10,440
Speaker 2: suppose this.

38
00:02:10,400 --> 00:02:14,000
Speaker 1: Is where the resources company catalysts that we're talking about

39
00:02:14,040 --> 00:02:18,040
Speaker 1: before becomes important. Because a renewed push by Beijing to

40
00:02:18,120 --> 00:02:21,920
Speaker 1: tackle Chinese deflationary spiral has helped the local iron are

41
00:02:22,000 --> 00:02:25,000
Speaker 1: miners and others as well, hinting that the rotation into

42
00:02:25,040 --> 00:02:27,760
Speaker 1: miners might be on the way. The spot price of

43
00:02:27,800 --> 00:02:31,200
Speaker 1: iron ore rallied two percent to a three week high yesterday,

44
00:02:31,639 --> 00:02:35,200
Speaker 1: amid reports China's top leadership have promised to crack down

45
00:02:35,240 --> 00:02:41,359
Speaker 1: on quote disorderly price competition between businesses and curb outdated

46
00:02:41,520 --> 00:02:46,320
Speaker 1: industrial capacity. Iron ore prices lifted on expectations that lower

47
00:02:46,400 --> 00:02:50,079
Speaker 1: steel output would improve the profitability of mills.

48
00:02:50,600 --> 00:02:53,640
Speaker 2: Yeah, Michael, every sign that's given here is taking on

49
00:02:53,840 --> 00:02:57,680
Speaker 2: extra significance. We're not able to recommend investments obviously, and

50
00:02:57,720 --> 00:03:00,880
Speaker 2: we do recommend that everyone get their own professional financial advice.

51
00:03:01,560 --> 00:03:03,919
Speaker 2: That is very important to remember. What has happened since

52
00:03:03,919 --> 00:03:06,919
Speaker 2: the news out of Beijing is that investors have piled

53
00:03:06,919 --> 00:03:11,440
Speaker 2: into the mining giants. Yesterday, BHP rose nearly five percent,

54
00:03:11,760 --> 00:03:13,880
Speaker 2: while both three O Tinto and fourty SCU medals were

55
00:03:13,919 --> 00:03:16,840
Speaker 2: one point five percent higher. The big banks, by contrast,

56
00:03:16,919 --> 00:03:19,840
Speaker 2: well they all fell, with a Commonwealth bank losing two percent.

57
00:03:20,160 --> 00:03:22,880
Speaker 2: None of this means the rotation is on. It doesn't

58
00:03:22,919 --> 00:03:25,680
Speaker 2: mean it's happening, but it does demonstrate that many of

59
00:03:25,720 --> 00:03:28,400
Speaker 2: the very large investors are waiting for it to happen

60
00:03:28,639 --> 00:03:30,320
Speaker 2: and are ready to move when it does.

61
00:03:30,520 --> 00:03:32,640
Speaker 1: Yeah, this is interesting to talk about it, and just

62
00:03:32,680 --> 00:03:34,760
Speaker 1: so that you know that when that does happen, everyone's

63
00:03:34,760 --> 00:03:37,520
Speaker 1: watching for that catalyst, that when that does happen, people

64
00:03:37,520 --> 00:03:38,640
Speaker 1: are prepared for it. Right.

65
00:03:38,840 --> 00:03:39,960
Speaker 2: Information is power.

66
00:03:40,160 --> 00:03:42,880
Speaker 1: Indeed it is now, Adam. It was a day for

67
00:03:43,000 --> 00:03:46,000
Speaker 1: profit taking on the share market yesterday, with the run

68
00:03:46,080 --> 00:03:49,080
Speaker 1: in stocks over recent days, particularly the banks and the retailers,

69
00:03:49,120 --> 00:03:52,320
Speaker 1: coming to an end. By the close yesterday, the SMPASX

70
00:03:52,360 --> 00:03:55,400
Speaker 1: two hundred was down just a touch to eight five

71
00:03:55,480 --> 00:03:57,960
Speaker 1: hundred and ninety six points Apart from the cell off

72
00:03:57,960 --> 00:04:00,800
Speaker 1: in the banks, Retailers that had run earlier in the

73
00:04:00,840 --> 00:04:03,200
Speaker 1: week on the hopes of a rate cut also lost ground,

74
00:04:03,320 --> 00:04:07,720
Speaker 1: so JB Hi Fi, West Farmers, Harvey Norman all among

75
00:04:07,760 --> 00:04:08,200
Speaker 1: that group.

76
00:04:08,560 --> 00:04:11,600
Speaker 2: Yeah, Michael. Profit taking is when investors figure that a

77
00:04:11,680 --> 00:04:15,240
Speaker 2: stock run won't go much higher and could indeed fall,

78
00:04:15,480 --> 00:04:17,120
Speaker 2: so they may as well take the money off the

79
00:04:17,160 --> 00:04:20,400
Speaker 2: table now and sell those shares. The winners yesterday were

80
00:04:20,440 --> 00:04:23,560
Speaker 2: the miners after Beijing promised to crack down on disorderly

81
00:04:23,640 --> 00:04:26,479
Speaker 2: low price competition. As you said earlier in the report,

82
00:04:26,920 --> 00:04:30,280
Speaker 2: this was affecting the commodity markets and might indeed lead

83
00:04:30,320 --> 00:04:34,920
Speaker 2: to the phasing out of some industrial capacity. BHP, Rio Tinto,

84
00:04:34,960 --> 00:04:39,000
Speaker 2: and Fortescue Medals all jumped on that. Lithium Minors, Mineral Resources,

85
00:04:39,000 --> 00:04:41,320
Speaker 2: Pilgrim Minerals and Lion Town all.

86
00:04:41,279 --> 00:04:47,160
Speaker 1: Rows enough about markets, Adam, can we talk? Sorry I

87
00:04:47,160 --> 00:04:49,040
Speaker 1: shouldn't say that on a business podcast, but we need

88
00:04:49,080 --> 00:04:51,880
Speaker 1: to talk to you me. No, there's never enough about markets,

89
00:04:51,920 --> 00:04:53,400
Speaker 1: but we need to talk about politics.

90
00:04:53,600 --> 00:04:54,200
Speaker 2: Just brofly.

91
00:04:54,480 --> 00:04:57,440
Speaker 1: It does set the rules for business, Yes, it does.

92
00:04:57,520 --> 00:04:59,560
Speaker 1: Thank you for making me feel better about saying this.

93
00:04:59,640 --> 00:05:04,000
Speaker 1: Foreig A Penny Wong says US Secretary of State Marco

94
00:05:04,160 --> 00:05:08,760
Speaker 1: Rubio is quote keen to reschedule a meeting between Donald

95
00:05:08,800 --> 00:05:12,800
Speaker 1: Trump and Anthony Alberinezi. She said Trump is a very

96
00:05:13,000 --> 00:05:16,320
Speaker 1: very busy man, but Rubio made it clear that they

97
00:05:16,400 --> 00:05:19,960
Speaker 1: wanted a meeting. She also downplayed the suggestion that Australia

98
00:05:20,040 --> 00:05:25,000
Speaker 1: could use preferential access to critical minerals as leverage in

99
00:05:25,120 --> 00:05:27,160
Speaker 1: trade talks with the US. I don't know why you

100
00:05:27,200 --> 00:05:29,360
Speaker 1: would downplay that, as if you wouldn't just be leaning

101
00:05:29,400 --> 00:05:31,599
Speaker 1: into something like that we've got something in the US wants,

102
00:05:31,839 --> 00:05:32,440
Speaker 1: let's use it.

103
00:05:32,520 --> 00:05:35,240
Speaker 2: Yeah, Well, Senator Wong pointed out that the US has

104
00:05:35,240 --> 00:05:38,640
Speaker 2: a trade surplus with Australia, going on then to say

105
00:05:38,680 --> 00:05:40,880
Speaker 2: that there's a lot of benefit to the United States

106
00:05:40,920 --> 00:05:44,240
Speaker 2: from the free tariff arrangements that exist under our free

107
00:05:44,279 --> 00:05:47,200
Speaker 2: trade agreement. So there's a lot of I think, pointing

108
00:05:47,200 --> 00:05:50,039
Speaker 2: out of facts without necessarily big statements here.

109
00:05:50,279 --> 00:05:53,240
Speaker 1: Indeed there is. Okay, I'm going to take a quick

110
00:05:53,279 --> 00:05:56,520
Speaker 1: break before we do. Why don't you use this next

111
00:05:56,520 --> 00:05:59,400
Speaker 1: moment or two while they're sitting there just twiddling your thumbs.

112
00:06:00,000 --> 00:06:03,400
Speaker 1: Who sign up for the Fear and Greed newsletter if

113
00:06:03,400 --> 00:06:06,320
Speaker 1: you haven't done so already. There's a link in today's

114
00:06:06,320 --> 00:06:09,200
Speaker 1: show notes, and you will get the newsletter every weekday

115
00:06:09,279 --> 00:06:11,640
Speaker 1: morning by six am. And it's basically a cheap sheet

116
00:06:11,680 --> 00:06:14,000
Speaker 1: to help you get ahead for the day and hopefully

117
00:06:14,040 --> 00:06:16,800
Speaker 1: get ahead of both your competitors and your friends, who

118
00:06:16,839 --> 00:06:19,120
Speaker 1: are actually your competitors as well, aren't they Adam.

119
00:06:19,000 --> 00:06:21,600
Speaker 2: Of course, now this is Fear and Greed's own productivity hack.

120
00:06:22,040 --> 00:06:24,640
Speaker 2: Get onto the newsletter. It will set up your day better.

121
00:06:25,080 --> 00:06:27,080
Speaker 1: I like that, all right? Quick break we'll be back

122
00:06:27,080 --> 00:06:37,760
Speaker 1: in a moment with the rest of the day's business news. Adam.

123
00:06:37,839 --> 00:06:42,279
Speaker 1: Almost one hundred and twenty employees in Microsoft's Australian operations

124
00:06:42,320 --> 00:06:44,839
Speaker 1: will lose their jobs as part of a global cull

125
00:06:44,960 --> 00:06:48,359
Speaker 1: of nine thousand staff. It's the second redundancy round to

126
00:06:48,440 --> 00:06:50,360
Speaker 1: hit the company in two months, and it comes as

127
00:06:50,480 --> 00:06:53,840
Speaker 1: the local operations are in a period of transition after

128
00:06:53,880 --> 00:06:57,000
Speaker 1: its local managing director Steven Warrell, who spoke to us

129
00:06:57,040 --> 00:06:59,919
Speaker 1: recently on the podcast Well, he was poached by Telstra

130
00:07:00,360 --> 00:07:06,160
Speaker 1: to run its infrastructure division. Microsoft has not yet appointed

131
00:07:06,279 --> 00:07:08,880
Speaker 1: our successor, so as a fair bit of uncertainty around

132
00:07:08,880 --> 00:07:09,920
Speaker 1: the place at the moment.

133
00:07:10,080 --> 00:07:12,920
Speaker 2: Yeah, Michael, and amongst that news, the new global redundancy

134
00:07:12,960 --> 00:07:17,240
Speaker 2: plan represents just under four percent of Microsoft's global workforce

135
00:07:17,520 --> 00:07:20,040
Speaker 2: and the company plans to apply the percentage job losses

136
00:07:20,040 --> 00:07:22,400
Speaker 2: to each of its country operations. And this is according

137
00:07:22,400 --> 00:07:26,200
Speaker 2: to the Australian Financial Review. Workers in its Xbox division

138
00:07:26,360 --> 00:07:29,640
Speaker 2: and sales staff had been called out as targets, but

139
00:07:29,720 --> 00:07:32,520
Speaker 2: the cuts could also be applied more broadly. In May,

140
00:07:32,600 --> 00:07:36,160
Speaker 2: when Microsoft cut six thousand staff globally, it meant up

141
00:07:36,160 --> 00:07:38,400
Speaker 2: to one hundred staff from its local workforce of just

142
00:07:38,520 --> 00:07:41,320
Speaker 2: under three thousand were set to leave. The new redundancy

143
00:07:41,360 --> 00:07:44,239
Speaker 2: round will claim more than this, probably between one hundred

144
00:07:44,240 --> 00:07:45,920
Speaker 2: and ten and one hundred and twenty workers.

145
00:07:46,680 --> 00:07:51,000
Speaker 1: Now. US casino group Bally's, which we've talked about only

146
00:07:51,040 --> 00:07:53,680
Speaker 1: a few days ago, actually Adam, it's warned that it

147
00:07:53,760 --> 00:07:57,520
Speaker 1: may abandon its rescue deal for Star Entertainment if a

148
00:07:57,560 --> 00:08:01,640
Speaker 1: proposed four hundred million dollar fine from financial crimes watchdog

149
00:08:01,680 --> 00:08:03,200
Speaker 1: OSTRAK is enforced.

150
00:08:03,480 --> 00:08:03,640
Speaker 2: Now.

151
00:08:03,640 --> 00:08:06,480
Speaker 1: The fine relates to years of serious compliance failures and

152
00:08:06,520 --> 00:08:09,800
Speaker 1: alleged money laundering breaches at Star's casinos, with a federal

153
00:08:09,880 --> 00:08:14,000
Speaker 1: court ruling expected later this year. Star has already said

154
00:08:14,040 --> 00:08:16,720
Speaker 1: that a penalty above one hundred million dollars could push

155
00:08:16,760 --> 00:08:21,680
Speaker 1: the company into insolvency, threatening not only the Bally's deal,

156
00:08:21,720 --> 00:08:24,000
Speaker 1: but it's broadest survival as a company.

157
00:08:24,400 --> 00:08:26,840
Speaker 2: Yeah, Michael, to continue what we said earlier in the week.

158
00:08:26,880 --> 00:08:29,920
Speaker 2: This falling Star story carries on. The Australian reports that

159
00:08:30,000 --> 00:08:33,000
Speaker 2: Bally's chairman Sue Kim says its three hundred million dollar

160
00:08:33,040 --> 00:08:37,120
Speaker 2: deal is conditional on Star remaining solvent. He's flagged that

161
00:08:37,200 --> 00:08:40,720
Speaker 2: an excessive fine could render the deal unworkable. The US

162
00:08:40,800 --> 00:08:43,840
Speaker 2: group had partnered with Australian pub mogul Bruth Matheson to

163
00:08:43,880 --> 00:08:47,200
Speaker 2: take a stake in the embattled Star. The uncertainty comes

164
00:08:47,200 --> 00:08:49,800
Speaker 2: as Star scrambles to raise cash through a potential sale

165
00:08:49,840 --> 00:08:53,440
Speaker 2: of its interest in Brisbane's Queen's Wharf Precinct, but even

166
00:08:53,480 --> 00:08:55,800
Speaker 2: that deal was under pressure earlier this week when Hong

167
00:08:55,880 --> 00:08:57,959
Speaker 2: Kong investors threatened to walk away.

168
00:08:58,440 --> 00:08:59,960
Speaker 1: Now I mentioned this earlier in the show.

169
00:09:00,200 --> 00:09:00,520
Speaker 2: Adam.

170
00:09:00,600 --> 00:09:05,239
Speaker 1: Eileen Bond, the former wife of late West Australian businessman

171
00:09:05,360 --> 00:09:07,720
Speaker 1: Alan Bond, has died at the age of eighty seven

172
00:09:07,760 --> 00:09:09,520
Speaker 1: after a medical episode over the weekend.

173
00:09:10,320 --> 00:09:13,679
Speaker 2: Yes Michael, nicknamed Red, Eileen Hughes, married Alan Bond in

174
00:09:13,720 --> 00:09:16,520
Speaker 2: nineteen fifty five at the age of seventeen, a year

175
00:09:16,640 --> 00:09:19,520
Speaker 2: after the pair met at a ballroom dancing class. They

176
00:09:19,559 --> 00:09:22,480
Speaker 2: became the highest profile business couple of the nineteen eighties,

177
00:09:22,679 --> 00:09:27,080
Speaker 2: with Alan Bond's empire expanding across mining, media and sporting assets.

178
00:09:27,360 --> 00:09:30,200
Speaker 2: The couple had four children and were married for almost

179
00:09:30,240 --> 00:09:33,200
Speaker 2: four decades before divorcing in nineteen ninety two, and that

180
00:09:33,400 --> 00:09:37,320
Speaker 2: was just as the business empire collapsed. Alan Bond ultimately

181
00:09:37,400 --> 00:09:39,800
Speaker 2: ended up in jail for signing funds from a company

182
00:09:39,840 --> 00:09:42,480
Speaker 2: Bell Resources to prop up Bond Corp.

183
00:09:43,280 --> 00:09:46,719
Speaker 1: Turning to international news, now, Adam and Asian country is

184
00:09:46,840 --> 00:09:48,760
Speaker 1: working hard to do a deal on tariffs with the

185
00:09:48,880 --> 00:09:52,080
Speaker 1: US ahead of the nine July deadline, which is not

186
00:09:52,200 --> 00:09:54,800
Speaker 1: far away now with Vietnam coming to an agreement with

187
00:09:54,840 --> 00:09:58,880
Speaker 1: the White House, though India remains at loggerheads. Disagreements over

188
00:09:59,040 --> 00:10:03,200
Speaker 1: US dairy and agriculture remain unresolved in the Indian talks.

189
00:10:03,200 --> 00:10:04,880
Speaker 1: This is according to Royce's Here.

190
00:10:05,000 --> 00:10:08,120
Speaker 2: Michael Trump threatened a twenty six percent duty on Indian

191
00:10:08,120 --> 00:10:11,640
Speaker 2: goods as part of his April to Liberation Day reciprocal tariffs,

192
00:10:11,800 --> 00:10:15,080
Speaker 2: which were temporarily lowered to ten percent to buy time

193
00:10:15,120 --> 00:10:19,360
Speaker 2: for these renegotiations. Earlier yesterday, Trump announced an agreement with

194
00:10:19,480 --> 00:10:23,360
Speaker 2: Vietnam that cuts US tariffs on many Vietnamese goods to

195
00:10:23,440 --> 00:10:27,680
Speaker 2: twenty percent from his previously threatened forty six percent. Trump

196
00:10:27,720 --> 00:10:30,720
Speaker 2: said that US products could enter Vietnam duty free.

197
00:10:31,920 --> 00:10:36,080
Speaker 1: Tesla has headed for another year of shrinking sales Adam

198
00:10:36,200 --> 00:10:40,160
Speaker 1: after it posted a second straight drop in quarterly deliveries,

199
00:10:40,559 --> 00:10:45,120
Speaker 1: dragged down by CEO Elon Musk's right wing political stance

200
00:10:45,280 --> 00:10:49,080
Speaker 1: and an aging vehicle lineup. That's actually turned off some buyers.

201
00:10:49,440 --> 00:10:53,480
Speaker 1: The automaker own needs to deliver over one million vehicles

202
00:10:53,520 --> 00:10:57,079
Speaker 1: in the typically strong second half to avoid another annual

203
00:10:57,120 --> 00:10:58,680
Speaker 1: sales decline Michael.

204
00:10:58,720 --> 00:11:01,679
Speaker 2: Some analysts are saying it's too hard a task due

205
00:11:01,720 --> 00:11:05,800
Speaker 2: to tariff driven economic uncertainty and threats to phase out

206
00:11:05,920 --> 00:11:09,720
Speaker 2: key ev incentives under the Trump administration sweeping tax bill.

207
00:11:10,160 --> 00:11:13,600
Speaker 2: Still shares down about a quarter so far this year

208
00:11:13,920 --> 00:11:16,400
Speaker 2: rose four point five percent. Of the drop was less

209
00:11:16,440 --> 00:11:20,040
Speaker 2: severe than the bleakest analyst views, partly helped by a

210
00:11:20,040 --> 00:11:24,319
Speaker 2: modest demand recovery in the competitive Chinese market, whereas refreshed

211
00:11:24,520 --> 00:11:26,600
Speaker 2: model why has gained some traction.

212
00:11:27,000 --> 00:11:29,880
Speaker 1: Finally, Adam one more out of the US Sean Diddy

213
00:11:30,040 --> 00:11:34,320
Speaker 1: Combs has been acquitted of sex trafficking and racketeering charges

214
00:11:34,440 --> 00:11:37,600
Speaker 1: in the States, but convicted of prostitution offenses. Now we're

215
00:11:37,640 --> 00:11:40,640
Speaker 1: mentioning this here in a business podcast because Combs previously

216
00:11:41,040 --> 00:11:44,719
Speaker 1: had an enormous business empire, which has largely crumbled as

217
00:11:44,760 --> 00:11:47,400
Speaker 1: a result of the allegations against him. Now, the fifty

218
00:11:47,400 --> 00:11:49,959
Speaker 1: five year old is considered one of the most influential

219
00:11:50,040 --> 00:11:53,960
Speaker 1: people in hip hop. The allegations against him were sorted

220
00:11:54,000 --> 00:11:57,480
Speaker 1: and while the most serious charges weren't proven, He's still

221
00:11:57,480 --> 00:12:00,960
Speaker 1: being convicted of the other offenses, the left offences related

222
00:12:00,960 --> 00:12:04,000
Speaker 1: to prostitution and remanded in custody ahead of sentencing.

223
00:12:04,360 --> 00:12:07,199
Speaker 2: Yeah. Michael Sewn Combs was also known as Puff Daddy,

224
00:12:07,240 --> 00:12:10,160
Speaker 2: P Diddy or Diddy, and he had several major hits

225
00:12:10,200 --> 00:12:13,080
Speaker 2: both as a solo artist and a producer, probably the

226
00:12:13,120 --> 00:12:15,600
Speaker 2: ones that people might remember, I'll be missing you, more money,

227
00:12:15,600 --> 00:12:18,679
Speaker 2: more problems, and can't nobody hold me down. On the

228
00:12:18,720 --> 00:12:21,400
Speaker 2: business front, the list of brands and companies that have

229
00:12:21,480 --> 00:12:25,040
Speaker 2: distanced themselves is a really long one. He stepped away

230
00:12:25,040 --> 00:12:28,559
Speaker 2: from Revolt TV, lost his Seaun John fashion brand, had

231
00:12:28,559 --> 00:12:32,120
Speaker 2: a Hulu reality deal, scrapped and settled with the Agio,

232
00:12:32,320 --> 00:12:35,720
Speaker 2: ending is involvement with siroc and De Leon's spirits. Even

233
00:12:35,760 --> 00:12:38,800
Speaker 2: his charter school in Harlem cut Ties Peloton pulled his

234
00:12:38,920 --> 00:12:43,480
Speaker 2: music and Howard University revoked his honorary degree. Bad Boy

235
00:12:43,600 --> 00:12:47,319
Speaker 2: Records is still running and his music still streaming for now,

236
00:12:47,679 --> 00:12:51,760
Speaker 2: but that commercial influence is fading remarkably. Yeah, indeed it

237
00:12:51,840 --> 00:12:55,280
Speaker 2: is now up Next, Adam is the Fear and Greed

238
00:12:55,520 --> 00:12:59,360
Speaker 2: Daily Interview. Now your guest today in the studio is

239
00:12:59,600 --> 00:13:04,160
Speaker 2: Sam's who is the managing director A and Z at Qualas.

240
00:13:04,200 --> 00:13:08,640
Speaker 2: This is a really interesting chat. Yeah, so cybersecurity and

241
00:13:08,720 --> 00:13:12,760
Speaker 2: Sam Salahi and the Qualist team. That's Qua l Ys.

242
00:13:13,559 --> 00:13:16,320
Speaker 2: He has decades of experience in this realm and the

243
00:13:16,320 --> 00:13:18,960
Speaker 2: companies need to work for work with other companies to

244
00:13:19,080 --> 00:13:22,440
Speaker 2: do things such as consider cyber threats, role model what

245
00:13:22,480 --> 00:13:24,240
Speaker 2: it's like to be under that kind of pressure when

246
00:13:24,280 --> 00:13:28,800
Speaker 2: something breaks, and help people get through those crises. So preparation,

247
00:13:29,400 --> 00:13:33,319
Speaker 2: role modeling, example, testing and putting the teams under pressure

248
00:13:33,360 --> 00:13:35,440
Speaker 2: to make sure their security is stronger. It's a really

249
00:13:35,440 --> 00:13:36,040
Speaker 2: good interview.

250
00:13:36,160 --> 00:13:39,520
Speaker 1: Yeah, in its most basic kind of form, this is

251
00:13:39,559 --> 00:13:43,200
Speaker 1: about the importance of communication as well, and about the

252
00:13:43,200 --> 00:13:46,960
Speaker 1: fact that that it is not just about preparing to

253
00:13:47,080 --> 00:13:49,439
Speaker 1: fend off an attack or deal with an attack when

254
00:13:49,480 --> 00:13:51,640
Speaker 1: it happens. It's about how do you put that into

255
00:13:51,720 --> 00:13:54,960
Speaker 1: dollar terms in order to convince people within the business

256
00:13:54,960 --> 00:13:57,640
Speaker 1: that this is something that needs to be taken seriously.

257
00:13:57,960 --> 00:14:00,920
Speaker 1: So it is a really really interesting conversations. Stick around

258
00:14:00,960 --> 00:14:02,720
Speaker 1: us coming up next in the Fear and Greed playlist

259
00:14:02,760 --> 00:14:05,560
Speaker 1: on your podcast platform or at Fearangreed dot com dot au.

260
00:14:05,960 --> 00:14:08,560
Speaker 1: Thank you Adam Thank you, Michael. It is Friday, the

261
00:14:08,679 --> 00:14:11,240
Speaker 1: fourth of July twenty twenty five. Make sure you're following

262
00:14:11,240 --> 00:14:14,239
Speaker 1: the podcast and please join us online on LinkedIn, Instagram,

263
00:14:14,440 --> 00:14:16,920
Speaker 1: x TikTok, and Facebook. Michael Thompson, and that was.

264
00:14:16,840 --> 00:14:17,520
Speaker 2: Fear and greed.

265
00:14:17,800 --> 00:14:18,520
Speaker 1: Have a great day.