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Speaker 1: Today on fear and greed. Finally some relief for renters

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Speaker 1: across the country, with growth rates in rents now flat

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Speaker 1: across the capital cities. Quantas delays flights to South Africa

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Speaker 1: to avoid running into SpaceX debris, and the world's third

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Speaker 1: largest burger chain, Wendy's, set to open locally today. Plus

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Speaker 1: consumer sentiment stays negative for the thirty fifth month in

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Speaker 1: a row, and hopes that a Mideast ceasefire is close.

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Speaker 1: Welcome to Fear and Greed. Daily business news for people

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Speaker 1: who make their own decisions. It is Wednesday, the fifteenth

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Speaker 1: of January twenty twenty five. I'm Michael Thompson, and good morning.

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Speaker 1: Sean Aylmer.

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Speaker 2: Good morning, Michael Shawn.

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Speaker 1: The main story this morning a bit of good news

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Speaker 1: for renters, with the pace of growth in monthly payments

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Speaker 1: across the capital cities now flat.

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Speaker 2: Long time coming, I'd say in twenty twenty three, rents

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Speaker 2: for up eight percent last year, are up five percent,

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Speaker 2: but during the December quarter, at least in the capital cities,

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Speaker 2: they were flat. In the reass are up a little

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Speaker 2: over one percent. But for all those people out there

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Speaker 2: who have been struggling to pay their rent particularly when

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Speaker 2: it increases. Looks like there won't be too many more

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Speaker 2: of those on the rise, and let's hope. So obviously

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Speaker 2: very good news for renters, not so much investors. I

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Speaker 2: suppose you know the problem with this story, of course,

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Speaker 2: is it rents are up about thirty six percent nationally

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Speaker 2: since COVID. That's nearly nine thousand bucks a year on

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Speaker 2: a median rent, So you really struggle over the last

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Speaker 2: few years. Hopefully there'll be more relief going forward. Rent

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Speaker 2: spending is now about thirty three percent of pre tax income. Now,

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Speaker 2: this is according to core Logic. It's been tracking this

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Speaker 2: idea of rent spending as percent of income since it

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Speaker 2: began in two thousand and six. Never has it been

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Speaker 2: this high. Never has it been thirty three percent. So

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Speaker 2: a good news story after some really really bad news stories.

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Speaker 2: I suppose the main reasons are basically demand side. Net

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Speaker 2: migration has come off the boil a little bit in Australia,

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Speaker 2: there's a little bit more stock that's happening on the

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Speaker 2: supply side. In terms of what it's meant, it's meant

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Speaker 2: that more people are living at home for longer. Don't

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Speaker 2: know about that household with six twenty something year olds

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Speaker 2: in it. And also actually, now I'm sorry, I five

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Speaker 2: twenty something year old and one nearly twenty something year old.

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Speaker 2: Also that whole COVID trend of smaller households that's now unwinding,

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Speaker 2: and so we're actually getting large households again.

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Speaker 1: You could become a landlord within your own house.

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Speaker 2: Really, that's yes, that's what you call board, Michael. Your

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Speaker 2: kids are too young and it's really hard to collect sometimes.

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Speaker 2: That's what I'd say. Some kids are better, some borders

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Speaker 2: are better. Oh that's not so good. Tends to be

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Speaker 2: the ones that eat all the food and use the

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Speaker 2: electricity and the internet. They're the ones who pay least.

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Speaker 1: They also figure that they're paying a nominal for they

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Speaker 1: may as well make the most of it and absolutely

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Speaker 1: everything they can. It's like when you stay in an airbnb, right,

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Speaker 1: and they've got like some complimentary chocolates and you're just

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Speaker 1: like shoving it all into your bag.

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Speaker 2: It's quickly and they say, please please turn the air

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Speaker 2: conditioning off if you're going out for dinner, as if.

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Speaker 1: Come on, no, I'm not going to happen, all right.

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Speaker 1: That is a bit of good news though overall for

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Speaker 1: renters now, Sean, consumer sentiment, how about this has fallen

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Speaker 1: for a second consecutive month, but purchasing intentions suggest upside

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Speaker 1: in twenty twenty five.

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Speaker 2: Yeah, so this comes from the Westpac Melbourne Institute survey.

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Speaker 2: It was done when the Aussie dollar was falling, so

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Speaker 2: that probably hurt confidence. It's been negative for thirty five months.

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Speaker 2: Consumer sentiment. Any reading under one hundred is negative. It's

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Speaker 2: currently just a little over ninety two. The thing is,

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Speaker 2: if you look through that top line index, some of

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Speaker 2: the components are definitely improving. Why do we care because

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Speaker 2: consumer sentiment encourages spending. If you have more spending, you

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Speaker 2: have a stronger economy. Having said that, some of the

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Speaker 2: retailers in the last few days City Chic yesterday, My

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Speaker 2: Premier Investments, they've reported not so strong sales growth. So

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Speaker 2: I'm not quite sure how those two marry up, but

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Speaker 2: certainly the outlook for sentiment is somewhat better.

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Speaker 1: Sean, We've got still a fair bit to come. I

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Speaker 1: want to mention the interview that you have coming up

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Speaker 1: after the show today because it's it's something a little

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Speaker 1: bit different. You are speaking and this is still part

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Speaker 1: of our summer investing series. You're speaking with Steve Ween

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Speaker 1: from Jardin Australia.

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Speaker 2: Yeah. Look, it's a great chat with Steve. It's about

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Speaker 2: healthcare companies. But we've focused pretty much on the weight

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Speaker 2: loss companies. Sol Lely and Novo nor disc are the

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Speaker 2: two big ones thin because they picked that type of stuff,

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Speaker 2: but not just on those companies what it means for

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Speaker 2: other companies that might be affected by these weight loss drugs.

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Speaker 2: The example that one of the examples we talk about

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Speaker 2: is res Med, the sleep app near group. Some analysts

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Speaker 2: think that its future is somewhat clouded because these weight

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Speaker 2: loss drugs help reduce sleep apnia. So what does that

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Speaker 2: mean for a company like res Men Really fascinating chat.

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Speaker 1: Yeah, it is a good one. It's coming up after

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Speaker 1: the show. We still have a fair bit to coversh

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Speaker 1: on me. I cannot wait to talk about SpaceX and

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Speaker 1: Quantus and flights being delayed because of space debris, all

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Speaker 1: things we're talking, Wendy's coming to Australia, so much more.

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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. Shawn Quantis and South African Airways

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Speaker 1: have delayed or re routed flights between Australia and Southern

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Speaker 1: Africa as a result of the re entry into the

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Speaker 1: Earth's atmosphere of Elon Musk's SpaceX rockets. This is fascinating.

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Speaker 2: It is a very fun story. The re entry mostly

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Speaker 2: occurs in the Southern Indian nation and that's because basically

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Speaker 2: there's very little land mass in that region. What QUANTUS

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Speaker 2: has said is that it's had up to six hours

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Speaker 2: for flights between Australia and South Africa because they fear

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Speaker 2: the impact of flying debris on the planes. It told

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Speaker 2: The Australian or Quantas told The Australian that over the

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Speaker 2: last few days several flights were delayed for up to

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Speaker 2: six hours due to advice of re entry from the

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Speaker 2: US government. Now, this is a real problem. Quantus has

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Speaker 2: been trying to speak to SpaceX and refine is how

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Speaker 2: they put it, refined when re entries were occurring. But

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Speaker 2: sometimes because the weather conditions where launch sites are, et cetera,

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Speaker 2: it's really difficult to know exactly when it's going to happen.

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Speaker 2: And what we're talking about. Often the SpaceX, the rocket

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Speaker 2: takes off, but it's the debris from that rocket launch

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Speaker 2: once it's heading into space that's actually falling back to Earth.

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Speaker 2: That's really what we're talking about. And so COUND is

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Speaker 2: getting quite frustrated with this because they they're not really

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Speaker 2: getting much of a heads up when it's going to happen,

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Speaker 2: so as a result they have to delay flights.

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Speaker 1: Do you remember a couple years ago there was a

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Speaker 1: whole lot of SpaceX debris found throughout the snowy mountains

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Speaker 1: in kind of southern New South Wales and it was

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Speaker 1: from one of the one of the capsules from space

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Speaker 1: I think it was the Dragon capsule, and it kind

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Speaker 1: of it broke up, and suddenly farmers in kind of

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Speaker 1: basically rural regional New South Wales around kind of towns

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Speaker 1: like Ginderbyne, we're finding these big chunks of metal in

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Speaker 1: their paddocks and suddenly it just dawned on everyone, this

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Speaker 1: has come from space. This is and it emerged that

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Speaker 1: it was from SpaceX, and SpaceX finally actually acknowledged that yes,

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Speaker 1: this is ours. Luckily it was in a fairly kind

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Speaker 1: of sparsely populated part of Australia, but it does show

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Speaker 1: there is a recent dress from these things coming back

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Speaker 1: into coming back through the atmosphere Sean moving on. A

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Speaker 1: relatively unknown Chinese investor is continuing to lift his Steak

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Speaker 1: in Star into attainment, triggering speculation that the casino could

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Speaker 1: be broken up.

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Speaker 2: Huang Qing Chung has spent about thirty million dollars since

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Speaker 2: September last year, buying up six point five to two

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Speaker 2: percent of entertainment. He's now the second biggest shareholder, behind

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Speaker 2: pub owner Bruce Matheson. Bruce Mathison it's just under ten

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Speaker 2: percent now. Matheson told the media yesterday he doesn't know

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Speaker 2: mister Huang. The share price itself down forty percent last week.

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Speaker 2: That's after it said it was burning through cash and

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Speaker 2: he had a little over seventy million dollars left. The

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Speaker 2: New South Wales and Queens And governments have both said

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Speaker 2: no to a bailout. It jumped on Monday and the

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Speaker 2: news of the buy and by mister Huang up again yesterday.

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Speaker 2: Investment Bank speculation is that it's a bit of a

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Speaker 2: w whether he takes over totally or he buys the

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Speaker 2: business so it can be broken up. There's a bunch

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Speaker 2: of individual assets that can be sold, and the individual

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Speaker 2: casinos could be sold and that's less likely. The Darling

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Speaker 2: hotels on the Gold Coast in Sydney, the fifty percent

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Speaker 2: of Queen's Wharf in Brisbane, so there could be an

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Speaker 2: asset sale. But it's just very interesting that this mister

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Speaker 2: Hang has decided, who no one really knows, has decided

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Speaker 2: to buy up Star.

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Speaker 1: Yeah, certainly want to watch what else happened in the

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Speaker 1: markets yesterday.

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Speaker 2: The S and p ASX two hundred finished up half

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Speaker 2: a percent to eight two three one points. The big

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Speaker 2: banks fell hard on Monday. Yesterday morning they recovered ground,

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Speaker 2: but then they fell back in the afternoon. They finished

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Speaker 2: flat to lower. Tech tooks had a tough time Tech talks,

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Speaker 2: tech stocks had a tough time of it. Michael, good

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Speaker 2: day for the iron All mine as finally led by

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Speaker 2: forty s few medals and BHP iron All is back

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Speaker 2: above one hundred US dollars a ton. That's after figures

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Speaker 2: yesterday showed that China's imports of the steel ingredient have

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Speaker 2: reached a record level. Retailers were mixed, Coles did well,

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Speaker 2: West Farmers was down. Property energy groups trended higher. Myern

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Speaker 2: Premier investments tumbled on Monday after the two suitors announced

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Speaker 2: poor sales and revenue figures. They sold off again yesterday

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Speaker 2: my was down another three percent and apart from the start,

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Speaker 2: the other big movie yesterday was Ingenior Communities, basically an

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Speaker 2: investor and developer of retirement homes. It up to its

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Speaker 2: profit guidance. Shares jump thirteen percent.

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Speaker 1: Probably when comes any great surprise to you show? And

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Speaker 1: there was more barb throwing in federal politics yesterday. The battleground,

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Speaker 1: yes say, the cost of living? Probably no surprise about

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Speaker 1: that one either.

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Speaker 2: How are we going to cover this story, Michael, because

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Speaker 2: every day we're just going to get abuse. Well, maybe

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Speaker 2: we'll just read the comments from the two and leave

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Speaker 2: it at that, not comments, just sort of.

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Speaker 1: No commentary whatsoever. I can't just inject a bit of

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Speaker 1: color into the show by just reading their words.

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Speaker 2: Yeah, Anthony Alberinezi quote the next election will be about

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Speaker 2: labor with cost of living relief and a plan to

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Speaker 2: build Australia's future. Peter Dutton costing people more and taking

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Speaker 2: Australia backwards. I'm not sure. I am not sure what

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Speaker 2: he does about energy security the twenty thirties because he

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Speaker 2: has got no answers to it. Before some fantasy of

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Speaker 2: a nuclear reactor comes on in the twenty forties. But

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Speaker 2: it doesn't. If we continue to see softening in the

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Speaker 2: Australian dollar, if we continue to see inflation run rampant

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Speaker 2: under this government, then we will see interest rates stay

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Speaker 2: higher for longer. I want to see interest rates come down.

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Speaker 2: I think they would have already come down by now

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Speaker 2: if there'd been a coalition government in place. Ah, look,

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Speaker 2: that's what I said. Let's just dump federal politics until

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Speaker 2: something interesting happens.

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Speaker 1: How about that? Okay? Who decides if it's interesting though? Me?

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Speaker 2: Me?

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Speaker 1: Okay, me, all right, Let's see how we go. For

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Speaker 1: burger lovers, Sean, and I count myself as a burger lover.

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Speaker 1: I know you're more of a You're a fish guy, now,

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Speaker 1: aren't you fish guy? I am? Yeah. You've gone full

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Speaker 1: on pescatarian, haven't you. Maybe Wendy's has a fish burger.

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Speaker 1: It is a big day for burgerlarvers. Wendy's, the world's

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Speaker 1: third largest food chain, is launching in Australia this morning.

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Speaker 2: Surface Paradise. If you're there, pop in first local Wendy's

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Speaker 2: store in more than forty years. Hopes to take on McDonald's,

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Speaker 2: Subway and the rest of the quick service restaurant sector.

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Speaker 2: Here in Australia, a crowd called Flynn Group has the

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Speaker 2: rights to Wendy's in Australia. Now, Flynn Group is a

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Speaker 2: huge organization. It has the thousands of wendy in the US.

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Speaker 2: It's got thousands of Wendy's, RB's, Applebee's, Taco Bell stores.

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Speaker 2: It actually owns Pizza Hut in Australia, so it knows

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Speaker 2: this market. What's Wendy's famous for, well, square burger patties.

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Speaker 2: But I always think about that redheaded girl with pig tails.

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Speaker 2: Do you remember, you know the person freckles and pigtails,

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Speaker 2: and she's actually the founder's daughter.

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Speaker 1: Apparently.

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Speaker 2: Oh there you go. They used to have eleven stores

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Speaker 2: in Australia, closed them back in the early nineteen eighties. Wendy's,

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Speaker 2: it's taking on some giants. What is the fin review

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Speaker 2: put together some numbers with the health of ibis and

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Speaker 2: you know, we talk about Subways being the largest quick

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Speaker 2: service restaurant in terms of outlets. It's a long way

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Speaker 2: behind the others though in terms of revenue. So think

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Speaker 2: revenue only McDonald's easily number one, then Hungry Jack's Yam,

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Speaker 2: which is primarily KFC, Domino's and then Subway.

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Speaker 1: So will you be testing out Wendy's where I go?

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Speaker 1: I love, I love your enthusiasm. I just I shouldn't

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Speaker 1: have asked you.

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Speaker 2: Well, I don't I don't eat meat, and so fast

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Speaker 2: food restaurants are very Not that I'm promoting anyone here,

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Speaker 2: but Goozmand does do quite good non meat eater options.

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Speaker 1: Do they do a fish like fish tacos and things?

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Speaker 2: I don't know they do fish tager, but they actually do,

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Speaker 2: know like they just do vegetarian options, which is pretty good.

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Speaker 1: I shouldn't have asked you. I should have just just

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Speaker 1: known that you weren't going to do it. I will,

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Speaker 1: I will do it. I will gladly do it, and

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Speaker 1: because I'm because I'm doing it for fear and greed.

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Speaker 1: It is a tax reduction. Turning to international news now,

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Speaker 1: Seawan authorities in Los Angeles have detained a number of

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Speaker 1: people for looting, which is just disgusting as arrests over

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Speaker 1: theft and curfew violations rise while the fires they continue

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Speaker 1: to burn.

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Speaker 2: They sure do. Nine have been charged with looting, one

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Speaker 2: person with arson, believe it or not. In total, forty

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Speaker 2: people have been arrested in that area in the past

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Speaker 2: week or so, mostly burglary rather than looting. Mostly burglary.

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Speaker 2: Mandatory curfews have been imposed in some evacuation zones six

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Speaker 2: pm to six am. That is primarily about looting in

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Speaker 2: theft to prevent that. So people have left their homes

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Speaker 2: obviously they've evacuated, but people moving back into those areas

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Speaker 2: and thieving. There's also been impersonators of FEMA so Federal

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Speaker 2: Emergency Management Agency of First Responders, fieries, ambulance people to

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Speaker 2: actually comment on that. It's just it's atrocious, but it's

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Speaker 2: also fascinating that people see this as an opportunity.

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Speaker 1: Yeah, it brings out the worst in some people. Yeah,

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Speaker 1: that's extraordinary. US mediators have sent the final draft of

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Speaker 1: a ceasefire proposal to Israel and Hamasumit a breakthrough and

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Speaker 1: talks over a deal to end the war in Gaza

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Speaker 1: and secure the release of hostages.

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Speaker 2: Media is reporting it's the closest the two sides have

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Speaker 2: been to reaching an agreement thus far. This has been

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Speaker 2: going on for fifteen months. The deal appears to have

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Speaker 2: been broken by the US, Egypt, and Qatar. Joe Biden,

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Speaker 2: the US President, said, we're at the brink. That's how

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Speaker 2: he put it. A little bit of Trump diplomacy might

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Speaker 2: be working in this. He previously has said if the

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Speaker 2: war isn't over by the time he's elected, there'll be

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Speaker 2: all hell to pay. Trump diplomacy is an odd thing.

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Speaker 2: But I suppose the fact that there's so much uncertainty

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Speaker 2: about what that actually means from him, maybe that's encouraging

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Speaker 2: Hamas at least to I mean, he's been very pro

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Speaker 2: Israel thus far, but maybe that's encouraging Hamas to come

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Speaker 2: to the table.

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Speaker 1: Who knows, all right, Sean. Up next is the Fear

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Speaker 1: and Greed Daily Interview. Your guest today, Steve Ween from

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Speaker 1: jardin Australia, really looking at those big weight loss companies,

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Speaker 1: the ones that produce the things like a ZMP and

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Speaker 1: week GOVI. It is coming up next to the Fear

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

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Speaker 1: dot com dot au. Thank you very much, Thank you

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Speaker 1: very much, Michael. It is Wednesday, the fifteenth of January

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Speaker 1: twenty twenty five. Make sure you're following the podcast and

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Speaker 1: please join us online on LinkedIn, Instagram, x TikTok and Facebook.

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Speaker 1: I'm Michael Thompson, and that was fear and greed. Have

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Speaker 1: a great day.