1 00:00:06,160 --> 00:00:09,039 Speaker 1: Welcome to Fear and Greed business news you can use today. 2 00:00:09,080 --> 00:00:11,480 Speaker 1: The Reserve Bank says there are no more interest rate 3 00:00:11,560 --> 00:00:16,040 Speaker 1: cuts in the foreseeable future, the parliamentary expenses scandal widens, 4 00:00:16,360 --> 00:00:19,320 Speaker 1: and Donald Trump makes it very expensive for families to 5 00:00:19,400 --> 00:00:23,360 Speaker 1: visit the Grand Canyon. Plus global online forum Reddit is 6 00:00:23,360 --> 00:00:25,920 Speaker 1: preparing to mount a legal challenge to the Australian government's 7 00:00:25,960 --> 00:00:29,040 Speaker 1: world first social media ban for under sixteen year olds, 8 00:00:29,280 --> 00:00:32,800 Speaker 1: and paramount takes on Netflix in a fight for Warner Brothers. 9 00:00:32,880 --> 00:00:35,920 Speaker 1: It is Wednesday, the tenth of December twenty twenty five. 10 00:00:36,320 --> 00:00:38,559 Speaker 1: Michael Thompson and good morning, Sean Aylmer. 11 00:00:38,840 --> 00:00:41,320 Speaker 2: Morning. A story just for you today, Michael. 12 00:00:41,360 --> 00:00:42,559 Speaker 1: That would be the Grand Canyon one. 13 00:00:43,120 --> 00:00:44,320 Speaker 2: We'll get to it. We'll get to it. 14 00:00:44,360 --> 00:00:47,080 Speaker 1: We will. Indeed the main story this morning, Sean. The 15 00:00:47,200 --> 00:00:50,840 Speaker 1: Reserve Bank does not expect any more interest rate cuts 16 00:00:50,840 --> 00:00:54,520 Speaker 1: in the foreseeable future and has warned that inflation risks 17 00:00:54,720 --> 00:00:57,760 Speaker 1: are rising. The comments came after the Central Bank left 18 00:00:57,880 --> 00:01:01,120 Speaker 1: the official cash rate at three point six percent yesterday, 19 00:01:01,120 --> 00:01:02,480 Speaker 1: as was widely expected. 20 00:01:02,600 --> 00:01:05,800 Speaker 2: The bank said underlying inflation had risen recently, and while 21 00:01:05,880 --> 00:01:08,240 Speaker 2: some of the increase was driven by temporary factors. There 22 00:01:08,319 --> 00:01:11,480 Speaker 2: has also been a broader lift in prices. Risks to 23 00:01:11,520 --> 00:01:15,600 Speaker 2: inflation have tilted to the upside, the bank said, and 24 00:01:15,880 --> 00:01:21,240 Speaker 2: the persistence of price pressures will take some time to assess. Initially, 25 00:01:21,240 --> 00:01:24,720 Speaker 2: the Central Bank didn't sound quite as worried about inflation 26 00:01:24,920 --> 00:01:28,360 Speaker 2: as some thought, or in economic speak, was less hawkish 27 00:01:28,440 --> 00:01:31,959 Speaker 2: than some expected than we had Michelle Bullocks press conference, 28 00:01:32,319 --> 00:01:35,039 Speaker 2: and that turned around a bit. According to the Reserve Bank, 29 00:01:35,080 --> 00:01:38,600 Speaker 2: private demand is being supported by rising households spending and investment. 30 00:01:38,959 --> 00:01:43,280 Speaker 2: Housing activity and prices continue to increase while credit remains 31 00:01:43,400 --> 00:01:48,160 Speaker 2: readily available. The economy, particularly the private sector, has picked 32 00:01:48,200 --> 00:01:50,280 Speaker 2: up more than expected and if that continues, it will 33 00:01:50,280 --> 00:01:53,400 Speaker 2: add to inflation pressures. It was the final Reserve Bank 34 00:01:53,440 --> 00:01:56,120 Speaker 2: Board meeting of the year. Now the bank cut rates 35 00:01:56,120 --> 00:02:00,520 Speaker 2: in February, May and August this year. If the cycle 36 00:02:00,600 --> 00:02:04,080 Speaker 2: is over, as Michelle Bullock basically said that yesterday, it 37 00:02:04,200 --> 00:02:10,880 Speaker 2: will be the narrowest least number of rate cuts in 38 00:02:10,960 --> 00:02:13,760 Speaker 2: terms of a rate reduction cycle since the deregulation of 39 00:02:13,800 --> 00:02:16,560 Speaker 2: the Australian economy in the nineteen eighties. 40 00:02:16,960 --> 00:02:18,840 Speaker 1: Really, God, it didn't last long. 41 00:02:18,880 --> 00:02:20,760 Speaker 2: Then, No, it did not last long, and all this 42 00:02:20,880 --> 00:02:23,760 Speaker 2: two thirty pm announcement yesterday sent bond yield slightly lower, 43 00:02:23,800 --> 00:02:26,520 Speaker 2: though markets still have priced in a height next year. 44 00:02:26,560 --> 00:02:29,919 Speaker 2: The Aussie dollar slipped, while the sheer market dropped back 45 00:02:29,960 --> 00:02:30,440 Speaker 2: as well. 46 00:02:30,680 --> 00:02:34,040 Speaker 1: Now Straight after the announcement, Federal Treasurer Jim Chalmers was 47 00:02:34,560 --> 00:02:37,160 Speaker 1: very quick to emphasize that some of the pickup in 48 00:02:37,240 --> 00:02:39,440 Speaker 1: inflation reflected temporary factors. 49 00:02:39,639 --> 00:02:42,000 Speaker 2: He also liked the Central Bank comments that there was 50 00:02:42,040 --> 00:02:45,520 Speaker 2: improvement in private sector spending and investing. This whole argument 51 00:02:45,560 --> 00:02:48,600 Speaker 2: that the public sector is holding up the economy, well, 52 00:02:48,720 --> 00:02:51,600 Speaker 2: Michelle Bullock basically said it's the private sector that's pushing 53 00:02:51,600 --> 00:02:53,880 Speaker 2: to that now, and Jim Chalmers loved that one. The 54 00:02:53,960 --> 00:02:56,200 Speaker 2: Treasurer said while millions of Australians would have preferred a 55 00:02:56,280 --> 00:02:59,280 Speaker 2: rate cut, the RBA's decision was not unexpected. 56 00:03:00,200 --> 00:03:04,320 Speaker 1: Now, of course you watch the press conference with Michelle 57 00:03:04,360 --> 00:03:09,440 Speaker 1: Bullock like a hawk afterwards, looking for clues anything that 58 00:03:09,520 --> 00:03:11,680 Speaker 1: might kind of give people a bit of hope either way. 59 00:03:12,520 --> 00:03:17,000 Speaker 1: Anything there any hints about rates, what is going to happen, 60 00:03:17,760 --> 00:03:19,959 Speaker 1: what the next move is actually going to be. 61 00:03:20,840 --> 00:03:24,560 Speaker 2: Well, yes, and if you've got a mortgage, you're not 62 00:03:24,560 --> 00:03:26,079 Speaker 2: going to like this one. If you're an investor, you 63 00:03:26,160 --> 00:03:29,080 Speaker 2: might like it very much. Bullocks at the board sees 64 00:03:29,160 --> 00:03:32,600 Speaker 2: no immediate need for additional rate cuts. She then went 65 00:03:32,639 --> 00:03:35,600 Speaker 2: on to say that you know in the foreseeable future 66 00:03:35,680 --> 00:03:38,200 Speaker 2: that ain't going to happen. Basically in the back on 67 00:03:38,280 --> 00:03:40,720 Speaker 2: the pick up in private demand, and I'll quote her, 68 00:03:41,080 --> 00:03:44,040 Speaker 2: the question is is it just an extended hold from 69 00:03:44,080 --> 00:03:48,200 Speaker 2: here or is it the possibility of a rate rise. 70 00:03:48,680 --> 00:03:50,800 Speaker 2: I couldn't put a probability on those, but I think 71 00:03:50,840 --> 00:03:52,840 Speaker 2: they're the two things that the Board will be looking 72 00:03:52,880 --> 00:03:54,960 Speaker 2: closely at coming into the new year. 73 00:03:55,880 --> 00:03:58,440 Speaker 1: That's a long way from we don't rule anything in 74 00:03:58,560 --> 00:04:00,760 Speaker 1: or rule anything out. That's pretty much she's just ruling. 75 00:04:01,400 --> 00:04:04,880 Speaker 2: Cuts entirely totally. She said Februar's inflation data is the 76 00:04:04,960 --> 00:04:07,920 Speaker 2: key input into the next policy decision, adding that the 77 00:04:07,920 --> 00:04:10,080 Speaker 2: bank remained some way from its target of getting inflation 78 00:04:10,080 --> 00:04:11,040 Speaker 2: into two and a half percent. 79 00:04:12,120 --> 00:04:14,120 Speaker 1: I think a lot more came out of that meeting 80 00:04:14,240 --> 00:04:17,280 Speaker 1: than I was expecting, perhaps more definite than I was. 81 00:04:17,440 --> 00:04:19,520 Speaker 1: I was expecting it to be very much. I'll just 82 00:04:19,560 --> 00:04:21,760 Speaker 1: wait and see. Nothing ruled in, nothing ruled out. We 83 00:04:21,880 --> 00:04:24,279 Speaker 1: just need more data. That does sound clearer. 84 00:04:24,520 --> 00:04:29,680 Speaker 2: She was definitely more specific in the press conference than 85 00:04:29,880 --> 00:04:32,880 Speaker 2: the statement afterwards. In fact, the statement afterwards some people thought, oh, 86 00:04:33,040 --> 00:04:36,040 Speaker 2: you know, it's not like there're a little bit sort 87 00:04:36,080 --> 00:04:40,919 Speaker 2: of unsure what's going to happen next. But afterwards she 88 00:04:40,960 --> 00:04:42,920 Speaker 2: just said no rate cuts in the foreseeable future. 89 00:04:43,120 --> 00:04:46,840 Speaker 1: Yeah, all right, ASX How did it react? When did 90 00:04:46,839 --> 00:04:47,320 Speaker 1: it finish up? 91 00:04:47,400 --> 00:04:49,000 Speaker 2: Yesterday? It fell a bit. It was actually a pretty 92 00:04:49,000 --> 00:04:52,279 Speaker 2: poor last hour when the Michelle Bullocks comments were from 93 00:04:52,279 --> 00:04:55,200 Speaker 2: the press conference filtered through to the market. It finished 94 00:04:55,240 --> 00:04:58,000 Speaker 2: down nearly half percent to eighty five hundred and eighty 95 00:04:58,040 --> 00:05:01,440 Speaker 2: six points. Wasn't like a precipitous fall, but it was 96 00:05:01,520 --> 00:05:04,640 Speaker 2: very widespread. So eleven of the eleven of the eleven 97 00:05:04,680 --> 00:05:08,600 Speaker 2: sub indicies ended lower. Energy, healthcare, and tech stocks did worse. 98 00:05:09,320 --> 00:05:10,120 Speaker 1: Precipitous. 99 00:05:10,520 --> 00:05:11,080 Speaker 2: That's good word. 100 00:05:11,120 --> 00:05:16,240 Speaker 1: It's a great word. Very dare I say it? It's 101 00:05:16,240 --> 00:05:17,240 Speaker 1: a very pompous word. 102 00:05:17,480 --> 00:05:19,000 Speaker 2: It is a pompous word. And I did have to 103 00:05:19,080 --> 00:05:21,799 Speaker 2: use auto correct to spell it correctly. 104 00:05:22,480 --> 00:05:26,800 Speaker 1: You didn't need to admit that. Sean not an audio medium. 105 00:05:26,839 --> 00:05:29,840 Speaker 1: No one needs to know how you spell it. Global markets, 106 00:05:29,960 --> 00:05:30,880 Speaker 1: what's going on there? 107 00:05:31,000 --> 00:05:33,280 Speaker 2: Well? Cop has hit an all time high, and expectations 108 00:05:33,320 --> 00:05:36,360 Speaker 2: of stronger Chinese demand. But spare a thought for US 109 00:05:36,400 --> 00:05:40,159 Speaker 2: Federal Reserve Chair jer Own Powell, who'll probably announce an 110 00:05:40,160 --> 00:05:42,520 Speaker 2: interest rate cut in the next couple of days. Tonight, 111 00:05:43,000 --> 00:05:46,000 Speaker 2: the FED Board begins its two day meeting amid a 112 00:05:46,040 --> 00:05:52,280 Speaker 2: slowing employment market, rising inflation, a president who openly berates him, 113 00:05:52,760 --> 00:05:56,240 Speaker 2: and a split between board members about whether rates should 114 00:05:56,279 --> 00:06:01,120 Speaker 2: go up or down. Now we'll find out tomorrow morning 115 00:06:01,320 --> 00:06:04,400 Speaker 2: after the show's released about whether there's a rate cut 116 00:06:04,520 --> 00:06:04,760 Speaker 2: or not. 117 00:06:05,720 --> 00:06:09,240 Speaker 1: But don't forget as well. The other thing to add 118 00:06:09,240 --> 00:06:11,039 Speaker 1: into that, to make it even harder, is that they 119 00:06:11,080 --> 00:06:13,240 Speaker 1: don't have all the data that they would love. 120 00:06:13,400 --> 00:06:15,279 Speaker 2: No, that's true, Yes, because of the shut down. 121 00:06:15,360 --> 00:06:18,720 Speaker 1: Yeah, yep, so kind of doing it with kind of 122 00:06:18,760 --> 00:06:22,200 Speaker 1: a blindfold on one hand, tied behind your back. I 123 00:06:22,200 --> 00:06:24,520 Speaker 1: suppose one of those fair the way, it's not an 124 00:06:24,520 --> 00:06:25,040 Speaker 1: easy job. 125 00:06:25,640 --> 00:06:26,440 Speaker 2: It's not okay. 126 00:06:26,480 --> 00:06:27,800 Speaker 1: We'll be back in a moment with the rest of 127 00:06:27,800 --> 00:06:39,000 Speaker 1: the day's business news, Sean. The parliamentary expenses scandal is 128 00:06:39,000 --> 00:06:43,400 Speaker 1: growing and engulfing more parliamentarians from both sides of politics. 129 00:06:43,520 --> 00:06:47,159 Speaker 2: Yes. So, the latest revelation is that Communications Minister Anika Wells, 130 00:06:47,200 --> 00:06:50,800 Speaker 2: when Sports Minister left a comcar limousine waiting for nearly 131 00:06:51,000 --> 00:06:54,360 Speaker 2: ten hours while she attended the twenty twenty two National 132 00:06:54,480 --> 00:06:57,520 Speaker 2: Rugby League and National Rugby League Women's Grand Finals that 133 00:06:57,600 --> 00:06:59,719 Speaker 2: would have cost the taxpayers more than twelve hundred dollars, 134 00:06:59,720 --> 00:07:02,719 Speaker 2: accord to the SMH. She also charged taxpayers nearly one 135 00:07:02,720 --> 00:07:04,680 Speaker 2: thousand dollars for a comcar to wait for her while 136 00:07:04,720 --> 00:07:08,479 Speaker 2: she was at the Australian Open Tennis Expenses data reveals 137 00:07:08,520 --> 00:07:11,480 Speaker 2: tradements that Don Farrell used his entitlements hundreds of times 138 00:07:11,480 --> 00:07:13,680 Speaker 2: to fly his family around the country since Labor was 139 00:07:13,680 --> 00:07:17,160 Speaker 2: elected in twenty twenty two. The AFR is reporting Attorney 140 00:07:17,240 --> 00:07:20,120 Speaker 2: General Michelle Roland bill taxpayers more than twenty thousand dollars 141 00:07:20,160 --> 00:07:24,560 Speaker 2: for her family to travel to Western Australia. Now. Late 142 00:07:24,640 --> 00:07:27,720 Speaker 2: last night, Annika Wells referred her travel spending to an 143 00:07:27,760 --> 00:07:32,240 Speaker 2: audit by the Parliamentary Expenses Watchdog. Clearly she is feeling 144 00:07:32,240 --> 00:07:38,200 Speaker 2: the pressure on that one. Some of these travel expeditions 145 00:07:38,560 --> 00:07:43,640 Speaker 2: may not actually be outside the rules, but as David Pocock, 146 00:07:43,760 --> 00:07:47,800 Speaker 2: the Independent Senator from the Act said, it's sort of 147 00:07:47,840 --> 00:07:50,360 Speaker 2: been coming down to the leader of the law versus 148 00:07:50,400 --> 00:07:54,000 Speaker 2: community expectations and this is where they're running foul of it. 149 00:07:54,560 --> 00:07:58,440 Speaker 1: Basically, we need to introduce a pub test segment on 150 00:07:58,480 --> 00:08:01,360 Speaker 1: this show where every day we put some new before 151 00:08:01,400 --> 00:08:02,040 Speaker 1: the pub test. 152 00:08:02,240 --> 00:08:02,960 Speaker 2: Yeah. I like it. 153 00:08:03,160 --> 00:08:05,640 Speaker 1: I'm tipping we will not let anything past the pub test. 154 00:08:05,680 --> 00:08:08,080 Speaker 1: I feel like we are very good deciders of these. 155 00:08:07,920 --> 00:08:10,080 Speaker 2: Things, Sean. Maybe now. 156 00:08:10,200 --> 00:08:14,440 Speaker 1: Defense Minister Richard Miles says the Osman talks with Foreign 157 00:08:14,440 --> 00:08:18,080 Speaker 1: Minister Pennywong, US Secretary of State Marco Rubio and Defense 158 00:08:18,120 --> 00:08:22,080 Speaker 1: Secretary Pete Hegsith have led to an agreement for infrastructure 159 00:08:22,160 --> 00:08:26,000 Speaker 1: investment to support more US forces at Australian bases. 160 00:08:26,160 --> 00:08:30,160 Speaker 2: Parties agreed to see more prepositioning of significant American assets 161 00:08:30,200 --> 00:08:36,400 Speaker 2: in Australia, including Osprey tilt Rota aircraft, Osprey or Osprey Ospray. Yeah, 162 00:08:36,400 --> 00:08:40,600 Speaker 2: Ospray Osprey tilt Writer aircraft. They're very cool in greater 163 00:08:40,679 --> 00:08:44,559 Speaker 2: collaboration and guided weapons and hypersonic cruise missiles also very cool. 164 00:08:44,679 --> 00:08:47,599 Speaker 1: I like to see a bit of enthusiasm for aircraft 165 00:08:47,640 --> 00:08:48,280 Speaker 1: from you, Sean. 166 00:08:48,360 --> 00:08:52,599 Speaker 2: This is good. After the meeting, Rubia said building diversity 167 00:08:52,600 --> 00:08:55,679 Speaker 2: into critical mineral supply chains has become the central way 168 00:08:55,720 --> 00:08:58,840 Speaker 2: that Australia can work with the US. It's assuming we 169 00:08:58,920 --> 00:09:00,960 Speaker 2: want to do that. At a press conference after the meeting, 170 00:09:00,960 --> 00:09:03,600 Speaker 2: Miles insisted that the government has been transparent about the 171 00:09:03,600 --> 00:09:07,400 Speaker 2: progress of orcas he avoided questions about what had changed 172 00:09:07,440 --> 00:09:09,960 Speaker 2: after the Pentagon review, which we just got only in 173 00:09:10,000 --> 00:09:13,000 Speaker 2: recent weeks. He said, Australia's obligation under the pact are 174 00:09:13,000 --> 00:09:15,080 Speaker 2: now really clear. I thought they had have been really 175 00:09:15,120 --> 00:09:18,680 Speaker 2: clear beforehand, and the next billion dollar payment US billion 176 00:09:18,720 --> 00:09:20,640 Speaker 2: dollars about one and a half billion Aussie will be 177 00:09:20,640 --> 00:09:21,800 Speaker 2: made before the end of the year. 178 00:09:23,000 --> 00:09:26,840 Speaker 1: Global online forum Reddit is preparing to mount a legal 179 00:09:26,920 --> 00:09:30,080 Speaker 1: challenge to the Australian government's world first social media ban 180 00:09:30,200 --> 00:09:32,480 Speaker 1: for under sixteen year olds sure Is. 181 00:09:32,679 --> 00:09:35,800 Speaker 2: It comes as the ban commences today and is a 182 00:09:35,800 --> 00:09:37,800 Speaker 2: direct threat by a major tech company to one of 183 00:09:37,920 --> 00:09:41,120 Speaker 2: PM Anthony Albanez's headline policies. The tech platform has enlisted 184 00:09:41,160 --> 00:09:43,520 Speaker 2: a top barrister in a local law firm. According to 185 00:09:43,520 --> 00:09:45,800 Speaker 2: the AFR, any challenge is expected to be through the 186 00:09:45,880 --> 00:09:49,360 Speaker 2: High Court, likely to focus on teenage's implied riter freedom 187 00:09:49,440 --> 00:09:53,160 Speaker 2: of political communication. It would be the second High Court challenge, 188 00:09:53,160 --> 00:09:56,040 Speaker 2: the first, led by New South Wales Libertarian Party MLC. 189 00:09:56,200 --> 00:09:59,320 Speaker 2: John Ruddick is fronted by two fifteen year olds file 190 00:09:59,400 --> 00:10:02,439 Speaker 2: two weeks ago, based on the same argument beinging teenager's 191 00:10:02,480 --> 00:10:05,800 Speaker 2: freedom of political communication. There are currently ten social media 192 00:10:05,840 --> 00:10:10,920 Speaker 2: platforms included in the new law Facebook, Instagram, threads, TikTok, snapchat, Twitch, geck, 193 00:10:11,200 --> 00:10:13,720 Speaker 2: x YouTube, Reddit, good luck to all the parents out 194 00:10:13,720 --> 00:10:15,120 Speaker 2: there from this morning. 195 00:10:15,200 --> 00:10:19,320 Speaker 1: Absolutely, of any social media platform to challenge this, I 196 00:10:19,360 --> 00:10:22,320 Speaker 1: would not have picked Reddit as the one. It would 197 00:10:22,320 --> 00:10:25,240 Speaker 1: have been X with Elon Musk and others. But no, 198 00:10:25,360 --> 00:10:27,960 Speaker 1: this is interesting. You are speaking today Fear and grad 199 00:10:28,040 --> 00:10:30,800 Speaker 1: Q and A. After the show, you're speaking with Whipper, 200 00:10:30,840 --> 00:10:34,200 Speaker 1: Michael Whipfley, who is a radio presenter on Nova, which 201 00:10:34,240 --> 00:10:37,480 Speaker 1: is the station that we record this podcast in, and 202 00:10:37,640 --> 00:10:40,839 Speaker 1: he's also one of the organizers of the thirty six 203 00:10:40,960 --> 00:10:45,160 Speaker 1: Months campaign. So it was really the guy behind this move. 204 00:10:45,840 --> 00:10:49,640 Speaker 2: Yeah, it's a fantastic chat with Whipper because he has 205 00:10:49,720 --> 00:10:51,880 Speaker 2: driven He has driven it from the get go, both 206 00:10:51,880 --> 00:10:54,920 Speaker 2: parties have come in behind it and he should be 207 00:10:55,000 --> 00:10:56,280 Speaker 2: very proud of what he's done. 208 00:10:56,600 --> 00:11:00,840 Speaker 1: Now the Federal National Party is just openly hammering former 209 00:11:00,920 --> 00:11:03,559 Speaker 1: leader Barnaby Joyce now who on Monday said he was 210 00:11:03,600 --> 00:11:07,280 Speaker 1: joining One Nation, saying the decision was about personal ambition, 211 00:11:07,800 --> 00:11:13,880 Speaker 1: not his electorate. Yes and everyone, it's just left, right 212 00:11:13,920 --> 00:11:15,480 Speaker 1: and center. They are firing so. 213 00:11:15,559 --> 00:11:19,200 Speaker 2: Deputy NATS leader Kevin Hogan said Joyce's decision was very 214 00:11:19,200 --> 00:11:22,000 Speaker 2: disappointing and hurtful. Other former leaders have been able to 215 00:11:22,040 --> 00:11:24,839 Speaker 2: remain on the backbench. Mar McCormack, of course did that. 216 00:11:25,200 --> 00:11:28,000 Speaker 2: Leader David Little Proud previously to the defection, was simply 217 00:11:28,000 --> 00:11:31,560 Speaker 2: about Joyce's personal ambition. Independence jumped in as well. Teal 218 00:11:31,600 --> 00:11:35,920 Speaker 2: Monique Ryan called Joyce a shameless popularist, adding that his 219 00:11:36,000 --> 00:11:37,920 Speaker 2: shift will actually have a little impact in Australia. For 220 00:11:37,960 --> 00:11:41,800 Speaker 2: his part, Joyce said he'd maintain a laser like focus 221 00:11:42,080 --> 00:11:45,800 Speaker 2: for his electorate of New England until the next election. 222 00:11:46,120 --> 00:11:48,320 Speaker 1: And did you see that because he has now joined 223 00:11:48,320 --> 00:11:51,160 Speaker 1: One Nation, it gives one Nation enough members to have 224 00:11:51,240 --> 00:11:54,880 Speaker 1: official party status and as a result, there is also 225 00:11:54,920 --> 00:11:58,320 Speaker 1: now an increase in pay for Paul enhance and as 226 00:11:58,360 --> 00:12:00,800 Speaker 1: the leader it's about another one hundred thousand dollars per year. 227 00:12:00,920 --> 00:12:05,679 Speaker 1: Oh wow, Yeah, they wouldn't get that until until he 228 00:12:05,760 --> 00:12:08,720 Speaker 1: officially moves over. Yeah, until it's I don't know what's 229 00:12:08,760 --> 00:12:11,400 Speaker 1: required to officially become a member of a party. I 230 00:12:11,400 --> 00:12:13,240 Speaker 1: imagine it's just a bit of paperwork, but good luck 231 00:12:13,280 --> 00:12:16,280 Speaker 1: getting a processed at this time. A year now, BHP 232 00:12:16,600 --> 00:12:22,200 Speaker 1: has done a three billion dollar deal for private equity 233 00:12:22,200 --> 00:12:24,880 Speaker 1: group Blackrock to take a stake in its West Australian 234 00:12:24,960 --> 00:12:28,920 Speaker 1: power network. The big Australian pushes to monetize its infrastructure assets. 235 00:12:28,920 --> 00:12:32,440 Speaker 2: This is interesting, yeah, really interesting. Western Australia Iron Ore's 236 00:12:32,559 --> 00:12:36,240 Speaker 2: inland network powers BHP in the Pilbra. Now that's obviously 237 00:12:36,320 --> 00:12:39,120 Speaker 2: where we dig up all the iron or it's where 238 00:12:39,160 --> 00:12:42,000 Speaker 2: BHP gets most of its revenue from. Under the deal 239 00:12:42,080 --> 00:12:46,160 Speaker 2: announced yesterday, BHP's ownership will be split. Its ownership of 240 00:12:46,240 --> 00:12:48,400 Speaker 2: this inland network. It owns eighty five percent of it. 241 00:12:48,720 --> 00:12:52,000 Speaker 2: That'll be split between BHP, which like fifty one percent Blackrock, 242 00:12:52,040 --> 00:12:55,760 Speaker 2: which will have twenty nine percent. BHP obviously gets the money, 243 00:12:56,200 --> 00:12:59,160 Speaker 2: Blackrock will get a tariff linked to its share of 244 00:12:59,280 --> 00:13:03,080 Speaker 2: power flowing through the infrastructure over twenty five years. It 245 00:13:03,160 --> 00:13:06,160 Speaker 2: includes a power station, four hundred klometers of transmission and 246 00:13:06,160 --> 00:13:10,680 Speaker 2: distribution lines, substations, control systems. It's just really interesting how 247 00:13:10,840 --> 00:13:14,280 Speaker 2: BHP can manufacture that might be being a bit cruel, 248 00:13:14,600 --> 00:13:18,160 Speaker 2: but create a value from these transmission networks. 249 00:13:18,240 --> 00:13:22,000 Speaker 1: Yeah, it is turning to international news now sean. A 250 00:13:22,320 --> 00:13:26,280 Speaker 1: Game of Throne style fight is on for Warner Brothers Discovery, 251 00:13:26,320 --> 00:13:30,200 Speaker 1: with media giant Paramount Skydance bidding one hundred and eight 252 00:13:30,240 --> 00:13:34,239 Speaker 1: billion dollars for the group, just two days after Netflix 253 00:13:34,559 --> 00:13:39,280 Speaker 1: lobbed a bid that was a bit less. That was 254 00:13:39,280 --> 00:13:41,640 Speaker 1: that seventy two billion US. These are US dollars, are 255 00:13:41,760 --> 00:13:46,359 Speaker 1: US dollars, and so Netflix bid seventy two billion. Paramounts 256 00:13:46,360 --> 00:13:49,160 Speaker 1: come in with a one hundred and eight billion dollar bid. 257 00:13:49,920 --> 00:13:53,960 Speaker 1: US President Donald Trump has inferred that it's really up 258 00:13:54,000 --> 00:13:55,560 Speaker 1: to him. He'll be the kingmaker here. 259 00:13:56,000 --> 00:13:59,320 Speaker 2: He has inferred. Now, first off, the bid by Netflix 260 00:13:59,400 --> 00:14:01,800 Speaker 2: is the fewer acids in the bid by Paramount, So 261 00:14:01,840 --> 00:14:04,319 Speaker 2: there's that's why there's such a discrimage in price. And 262 00:14:04,440 --> 00:14:07,760 Speaker 2: Netflix wants the studios and back catalogs Harry product Game 263 00:14:07,760 --> 00:14:11,120 Speaker 2: of Thrones and plans to spin off cable channel channels 264 00:14:11,120 --> 00:14:14,360 Speaker 2: such as CNN and Discovery. Paramount wants the lot right. 265 00:14:14,440 --> 00:14:17,400 Speaker 2: So which of it provides better outcome for shareholders is 266 00:14:17,559 --> 00:14:22,200 Speaker 2: very much up for interpretation. Already this week, after Netflix 267 00:14:22,320 --> 00:14:27,920 Speaker 2: made its announcement, but before Paramount made its announcement, Trump 268 00:14:27,960 --> 00:14:30,760 Speaker 2: came and said he's worried about competition issues. If Netflix 269 00:14:30,800 --> 00:14:34,600 Speaker 2: took over, then all of a sudden paramount which of 270 00:14:34,600 --> 00:14:36,800 Speaker 2: course aims Network teen here in Australia' CBS in the 271 00:14:36,880 --> 00:14:41,440 Speaker 2: US makes a hostile bid backed by Trump ally Larry 272 00:14:41,440 --> 00:14:45,000 Speaker 2: Ellison of Oracle Fame also involved Trump's son in law, 273 00:14:45,720 --> 00:14:51,920 Speaker 2: Jaron Krishna, and a Golf Nation Sovereign Wealth Fund. You 274 00:14:51,960 --> 00:14:53,480 Speaker 2: can kind of see where it's going. 275 00:14:55,520 --> 00:14:59,520 Speaker 1: Oh, that's getting messy. It's it's but there's. 276 00:14:59,360 --> 00:15:03,440 Speaker 2: A huge sell, huge and an incredible power. Yeah. 277 00:15:03,600 --> 00:15:05,440 Speaker 1: Yeah, it is quite an extraordinary story. 278 00:15:05,440 --> 00:15:08,320 Speaker 2: And we shouldn't Yeah, we shouldn't pre judge it. But 279 00:15:08,600 --> 00:15:10,040 Speaker 2: oh wow, pre. 280 00:15:10,120 --> 00:15:12,640 Speaker 1: Judging is one of my favorite things to do. Please 281 00:15:13,120 --> 00:15:15,600 Speaker 1: don't take that away from me. Donald Trump is not 282 00:15:15,680 --> 00:15:21,040 Speaker 1: just putting US businesses first. He's also favoring US US 283 00:15:21,040 --> 00:15:24,600 Speaker 1: tourists as well, introducing a one hundred and fifty dollars 284 00:15:24,720 --> 00:15:28,640 Speaker 1: charge per person for foreigners, including Australians that must be 285 00:15:28,640 --> 00:15:35,040 Speaker 1: pointed out visiting popular US national parks like the Grand Canyon, Yosemite, Yellowstone, 286 00:15:35,400 --> 00:15:36,000 Speaker 1: take your pick. 287 00:15:36,400 --> 00:15:40,040 Speaker 2: And that's on top of the existing entrance fees. So 288 00:15:40,080 --> 00:15:42,800 Speaker 2: it's trump'signed an executive boarder said national parks will be 289 00:15:42,840 --> 00:15:47,280 Speaker 2: about America first. The extra one hundred US dollars, so 290 00:15:47,280 --> 00:15:49,880 Speaker 2: it's called one hundred and fifty zie non resident fee 291 00:15:50,160 --> 00:15:53,440 Speaker 2: applies to eleven of the most popular parks take effect 292 00:15:53,480 --> 00:15:57,080 Speaker 2: from January one. So family of four yep from the 293 00:15:57,120 --> 00:16:01,080 Speaker 2: southern suburbs of Sydney. I'm listening to the Grand Canyon. 294 00:16:01,760 --> 00:16:05,520 Speaker 2: Having spent thousands of dollars in airfare's kahara and combination 295 00:16:06,040 --> 00:16:10,560 Speaker 2: high arrested charges as well, will now have to pay 296 00:16:12,200 --> 00:16:14,800 Speaker 2: what is it four times one fifty six hundred plus 297 00:16:14,880 --> 00:16:17,520 Speaker 2: fifty bus entry fees six hundred and fifty dollars to 298 00:16:17,560 --> 00:16:21,720 Speaker 2: see the Grand Canyon. My oh face. 299 00:16:24,120 --> 00:16:26,920 Speaker 1: This hypothetical family traveling in May. 300 00:16:27,360 --> 00:16:31,280 Speaker 2: Let's call them the Thompson's. Yeah, just pick a name 301 00:16:31,320 --> 00:16:31,840 Speaker 2: at random. 302 00:16:32,440 --> 00:16:35,040 Speaker 1: This is a real shock, Sean. This is not good 303 00:16:35,080 --> 00:16:36,720 Speaker 1: news and I did not want to hear this today, 304 00:16:36,760 --> 00:16:40,240 Speaker 1: So thank you for ruining my day. But we're still 305 00:16:40,240 --> 00:16:42,680 Speaker 1: going to go and we're still going to have a glorious. 306 00:16:42,200 --> 00:16:42,800 Speaker 2: Time in May. 307 00:16:43,000 --> 00:16:43,240 Speaker 1: Yep. 308 00:16:43,440 --> 00:16:44,240 Speaker 2: Fantastic top it. 309 00:16:44,160 --> 00:16:46,280 Speaker 1: In the calendar. Up next is Fear and Greed Q 310 00:16:46,440 --> 00:16:49,520 Speaker 1: and A with Michael Whipley, better known as Whipper Architect 311 00:16:49,880 --> 00:16:52,000 Speaker 1: and architect is one of a few, but really one 312 00:16:52,000 --> 00:16:54,200 Speaker 1: of the driving forces behind the social media ban. It's 313 00:16:54,240 --> 00:16:55,640 Speaker 1: a great chat coming up next to the Fear and 314 00:16:55,680 --> 00:16:58,400 Speaker 1: Greed playlist on your podcast platform or at Fearangreed dot 315 00:16:58,400 --> 00:16:59,960 Speaker 1: com todau, which is where you sign up for our 316 00:17:00,120 --> 00:17:02,720 Speaker 1: free daily newsletter. I'll put a link in the show 317 00:17:02,760 --> 00:17:05,520 Speaker 1: notes as well. Thank you Sean, Thank you Michael. It's Wednesday, 318 00:17:05,560 --> 00:17:08,320 Speaker 1: the tenth of December twenty twenty five. Make sure you're 319 00:17:08,320 --> 00:17:10,920 Speaker 1: following the podcast and join us online as well. Head 320 00:17:10,920 --> 00:17:14,479 Speaker 1: to LinkedIn, Instagram, x TikTok and Facebook. I'm Michael Thompson. 321 00:17:14,520 --> 00:17:18,480 Speaker 1: That was Fear and Greed. Have a great day.