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

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Speaker 1: The US and Australia sign a rare Earth deal. Following

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Speaker 1: the overnight meeting of Prime Minister Anthony Abanzi and US

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Speaker 1: President Donald Trump. The big spending independence in the last

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Speaker 1: federal election mostly didn't win their seats, and a warning

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Speaker 1: about mislabeled sunscreens plus space debris lands in Western Australia

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Speaker 1: and French police go searching for scooter writing jewel thieves

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Speaker 1: that stole from the louver. It is Tuesday, the twenty

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Speaker 1: first of October twenty twenty five. I'm Michael Thompson and

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Speaker 1: good morning, Sean Aylmer.

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Speaker 2: Good morning, Michael, Sean.

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Speaker 1: The main story this morning. Prime Minister Anthony Abenzi and

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Speaker 1: US President Donald Trump's first formal meeting this morning was

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Speaker 1: full of praise for each other. It ended with the

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Speaker 1: signing of a Rare Earth and Critical Minerals deal.

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Speaker 2: Shaw did. Trump offered plenty of platitudes for Albanesi, describing

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Speaker 2: him as a friend who is doing a great job

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Speaker 2: as Prime Minister. He also said Australian's were amazing allies

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Speaker 2: to the United States. Alberanzi he said it was a

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Speaker 2: great honor to be invited to the White House and

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Speaker 2: praised Trump for an extraordinary achievement and bringing about a

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Speaker 2: cease fire in the Middle East. At times in the

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Speaker 2: joint press conference, Mike, I don't know about you, there

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Speaker 2: was less talk of the US and Australia. We see

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Speaker 2: him to be a little bit second rate. More questions

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Speaker 2: about Taiwan and tariffs and defense in Ukraine and that

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Speaker 2: type of thing. In fact, at times, Anthony Albanezi was

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Speaker 2: struggling to actually be heard. I suspect Trump listed rare

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Speaker 2: earths and Taiwan as the US's top issues with China,

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Speaker 2: adding the defense cooperation agreements with Australia could serve as

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Speaker 2: a deterrent to Chinese military action against Taiwan, not that

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Speaker 2: he expects any military action. He added that Albernezi said

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Speaker 2: that the eight point five billion dollar Rare Earths and

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Speaker 2: Critical Minerals deal with the US will consist of joint

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Speaker 2: projects between the two countries and investments of about a

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Speaker 2: billion dollars each that's by the US into Australia and

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Speaker 2: vice versa.

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Speaker 1: The goal is.

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Speaker 2: To improve the supply of rare earths to the US.

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Speaker 1: Orcus Suan that was the other big kind of variable

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Speaker 1: heading into this meeting. Did it get a run though,

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Speaker 1: hopes that Albaneze might receive the green light from Trump

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Speaker 1: for the three hundred and sixty eight billion dollar deal

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Speaker 1: to go ahead.

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Speaker 2: Not quite nearly. Maybe it's been hard. Trump did say

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Speaker 2: August was going too slowly under the previous administration, but

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Speaker 2: it was now and I quote him really moving along

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Speaker 2: very rapidly, very well end quote. He said Australia will

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Speaker 2: would get the nuclear powered submarines provided for under the agreement.

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Speaker 2: So you think yes, then, enable Representative of President of

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Speaker 2: the meetings of the review that's still ongoing in Congress

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Speaker 2: is about trying to take the original Aucust framework and

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Speaker 2: make it better for all parties and remove some of

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Speaker 2: the ambiguity, which seems ambiguous to me. So we think

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Speaker 2: we got to go ahead, but we're not a one

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Speaker 2: hundred percent sure on that. One. One person who got

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Speaker 2: to mention, did you see it, Van Rudd?

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Speaker 1: Oh? I mean, what's the White House meeting without an

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Speaker 1: awkward moment? And this came. It came very much at

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Speaker 1: the expense of Kevin Rudd, who was in the room.

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Speaker 2: Yes, the former Prime minister. Of course, now ambassador to

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Speaker 2: the US. So Trump was asked by one of the

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Speaker 2: journalists about comments had made about Trump prior to him

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Speaker 2: becoming president. This second time very critical of Trump, and

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Speaker 2: basically Trump said, who made those comments? And sort of

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Speaker 2: Kevin Rudd was pointed out and he said, well, I

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Speaker 2: don't like you, right, Okay, good moving on, And I

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Speaker 2: mean Alberanez he was awkward. Rudd was awkward. Trump wasn't awkward.

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Speaker 1: He lives for that kind of moment, right like comfor

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Speaker 1: with the whole thing.

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Speaker 2: Anyway, The White House meeting came after four phone calls,

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Speaker 2: a brief encounter in New York by the between the

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Speaker 2: two of them, and one cancel meeting in Canada. Tomorrow,

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Speaker 2: the Prime Minister will meet with the Friends of Australia

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Speaker 2: caucus in the US Congress and then we'll host a

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Speaker 2: lunch memorating mining giant BHP's one hundred and forty fifth

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Speaker 2: anniversary at this Strain Embassy in Washington. I think you know,

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Speaker 2: at the end of the day, Trump got what he wanted,

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Speaker 2: a rare Earth deal. Australia didn't quite get what we wanted,

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Speaker 2: which was basically the full green light for the Orchest deal.

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Speaker 2: But they certainly both got plenty of fatal opportunities, which

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Speaker 2: for Anthony Abernezi was a big part of his trip

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Speaker 2: to the US.

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Speaker 1: Yeah, and the Prime Minister did get a lot of praise,

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Speaker 1: very public praise from the President in terms of that

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Speaker 1: Albanese is doing a great job and all that, and

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Speaker 1: it does that glow kind of does does help politically,

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Speaker 1: It doesn't hurt just quickly sewn websites. This is well

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Speaker 1: away from politics. Websites and apps including Canvas, Snapchat, rodblocks

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Speaker 1: Amazon itself as well coming back online now after a

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Speaker 1: major outage hit Amazon web services, disrupting Internet services for

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Speaker 1: millions of users worldwide.

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Speaker 2: And He's said the issue caused widespread failures and latency

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Speaker 2: across multiple platforms, Netflix, Airbnb, and countless other services that

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Speaker 2: rely on Amazon. Where services were affected, Australians reported problems

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Speaker 2: with apps and streaming platforms like nine Now. Amazon says

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Speaker 2: the underlying issue has now been fixed, though some services

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Speaker 2: may take time to fully recover as engineers work through

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Speaker 2: a black backlog of requests.

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Speaker 1: Okay, local markets, let's take a quick look at what

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Speaker 1: happened yesterday.

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Speaker 2: Sean the SMPA six to two hundred index rose almost

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Speaker 2: half a percent to nine thirty two points, led by

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Speaker 2: the Bosses' biggest company, the Commonwealth Bank, which jumped to

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Speaker 2: two point six percent, Westpac National Australian Bank rows one percent,

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Speaker 2: another financial QB surge nearly four percent. A drop in

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Speaker 2: the price of gold hit the bullion miners Newmont, Evolution Mining,

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Speaker 2: Northern Star orfl Falling on all prices hit the big

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Speaker 2: miners BOUNCHP, Fortes, QW, Meddlestone, Rio, while critical minerals groups

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Speaker 2: also dropped. One of the worst performers was Uranium group

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Speaker 2: Deep Yellow, following the exit of chief executive John Borschov.

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Speaker 1: Busy morning. Okay, we'll take a quick break back in

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Speaker 1: a moment with the rest of the day's business news.

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Speaker 1: Sean independent candidates with the biggest financial backing did not

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Speaker 1: always get elected. At the May federal election and climate

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Speaker 1: two hundred and individual donors provided a record twenty seven

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Speaker 1: million dollars into independent community campaigns.

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Speaker 2: One of money. Former radio presenter Alex Dyson, an independent

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Speaker 2: challenger for the seat of One, received the most donations

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Speaker 2: of any independent last election. He raised two point two

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Speaker 2: million dollars, but was unsuccessful in arresting the Victorian seat

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Speaker 2: from Liberal MP Dan teen. According to Sydney Morning Herald,

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Speaker 2: Dyson was followed by Kaz Heis, a Climate two hundred

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Speaker 2: back candidate who raised two point one million dollars in

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Speaker 2: her unsuccessful tilt against the Nationals for the New South

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Speaker 2: Wales seat of kauper Menique Ryan raised the third highest

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Speaker 2: amount last financial year one point nine million dollars. She did,

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Speaker 2: of course hold on to the Blueboo Riven seat of

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Speaker 2: Couyong Inn Melbourne. That was a very tight contest. So

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Speaker 2: he Daniel raised one point eight million dollars in her

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Speaker 2: campaign to remain the member for Goldstein, but was defeated

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Speaker 2: by returning Liberal MP Tim Wilson. Donations to major parties

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Speaker 2: will be closed early next year, but for the time being,

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Speaker 2: the Independence last election ended up with a record kitty

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Speaker 2: donated by Climate two hundred and other donors.

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Speaker 1: Those are some huge sums. Two million dollars. That is

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Speaker 1: a lot of money that was raised to resehl. You'd

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Speaker 1: want to see a return out of that now. The

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Speaker 1: Therapeutic Goods Administration has raised concerns about the reliability of

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Speaker 1: sun protection testing from a well used British laboratory with

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Speaker 1: several well known brands not achieving their advertised SBF fifty rating.

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Speaker 1: This is a story that's been bubbling along now for

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Speaker 1: a while.

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Speaker 2: It has the country's medicines regulator has privately raised concerns,

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Speaker 2: saying data from the lab looks too perfect and lacks variability.

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Speaker 2: According to a story in the AFR, the TGA is

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Speaker 2: worried that as we head into summer, some protection factors

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Speaker 2: that's what SPF stands for, the ratings are not accurate.

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Speaker 2: Many of the brands under scrutiny were tested by Princeton

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Speaker 2: Consumer Research in the UK, and the group told the

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Speaker 2: finn that it has an unwavering commitment to its scientific credibility,

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Speaker 2: impartiality and compliance now. The issue actually emerged after consumer

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Speaker 2: advacy group Choice said its testing had shown sixteen products

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Speaker 2: claiming to have an SPF of more than fifty actually

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Speaker 2: measuring far lower. Those brands include popular products like Banana Boat,

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Speaker 2: Cole's Ultra, as well as startup Ultra Violet, which had

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Speaker 2: the worst result among those tested. By August, Ultraviolet had

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Speaker 2: actually pulled its sunscreen product globally.

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Speaker 1: Rio Tinto's new chief executive, Simon Trott, has promised to

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Speaker 1: cut layers of staff and simplify the company's asset portfolio.

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Speaker 2: He'll embrace predecessor Yakubstou Siam's plan to have carbon emissions

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Speaker 2: by twenty thirty, but will try to limit spending on

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Speaker 2: lithium projects to only the very best assets. According to

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Speaker 2: media reports, Trot announced plans to sell the titanium and

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Speaker 2: borates to v and reduced the number of product groups

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Speaker 2: from four to three, putting the lithium assets in with aluminium.

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Speaker 2: He hasn't ruled out further divestments.

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Speaker 1: Auto parts group Babcor has downgraded its profit outlook on

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Speaker 1: the back of a twelve million dollar pre tax earnings hit,

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Speaker 1: sending a share price down seventeen percent yesterday.

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Speaker 2: Now I'm particularly interested in this on badcour owns retail

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Speaker 2: brands Auto Barn and Burson Trade Network. And yesterday Michael

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Speaker 2: I went with my son and he bought his first car. Yep,

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Speaker 2: he spent the pricely sum of four thousand dollars on

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Speaker 2: a two thousand and five Falcon.

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Speaker 1: That is such a typical first game.

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Speaker 2: It is fantastic. He's moving the camera, so he'll be community.

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Speaker 2: It will be driving many country miles, so this is

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Speaker 2: a rationale forget a Falcon, and we bought the car,

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Speaker 2: and I suddenly this story came up, and I thought,

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Speaker 2: I'm going to be visiting these guys a lot.

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Speaker 1: You will be a frequent flyer basically.

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Speaker 2: Babcorp cited the discovery of unsatisfactory operational practice, whatever that

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Speaker 2: means within its core trade division, particularly its tools and

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Speaker 2: Equipment business. A review uncovered the need for immediate management

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Speaker 2: changes in an externally supported operational review, according to the company.

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Speaker 1: In corporate news, shawn Sigma Healthcare fell yesterday after a

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Speaker 1: new South Wales court ruling found in favor of the

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Speaker 1: state regulator in a pharmacy ownership dispute with Blooms the Chemist.

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Speaker 1: The concern is the ruling will have implications for its

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Speaker 1: Chemist warehouse chain, though Sigma said that is not the

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Speaker 1: case exactly.

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Speaker 2: Oil and gas producer Beach Energy jumped after reporting an

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Speaker 2: eight percent rise in oil production.

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Speaker 1: Good news there.

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Speaker 2: Drone Shield rallied after more than a one thousand percent

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Speaker 2: jump in revenue in the September quarter from a year ago.

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Speaker 2: Of course, strained Shield is quite the company. Its share

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Speaker 2: price is up more than five hundred percent this year alone.

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Speaker 2: By now Pay Later company zip Rose after upgrading its

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Speaker 2: US tunnel transaction volume growth forecast. Tab Court was lower

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Speaker 2: after investors overwhelmingly voted in favor of incentives for chief

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Speaker 2: executive Gil McLachlin, despite concerns RAIS the Australian Shareholders Association

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Speaker 2: Finnie Michael. Looks like a buyer has been found for

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Speaker 2: Regional Express Airlines, which of course collapsed into administration fifteen

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Speaker 2: months ago. Nine media newspapers are saying NASDAK listed US

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Speaker 2: aviation company airt has agreed to buy Rex. Wait and

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Speaker 2: see on that.

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Speaker 1: One Sean, can we talk about space debris now we can? Okay,

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Speaker 1: suspected space debris. I must emphasize that it is just

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Speaker 1: suspected to be space debris. But it's been found burning

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Speaker 1: near an outback Western Australian mind sight. But authorities don't

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Speaker 1: know where it came from, though they are confident it

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Speaker 1: wasn't from a domestic aircraft. Therefore space debris must be

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Speaker 1: from space.

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Speaker 2: Workers at a side about thirty kilometers east of Newman

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Speaker 2: found the burning object about two pm on Saturday phone

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Speaker 2: authorities West Australian Police. So the object remains under investigation.

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Speaker 2: An object under investigation that's quite funny. Those characteristics are

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Speaker 2: consistent with known space re entry debris, according to report

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Speaker 2: in nine Media. According to the Australian Space Agency, space

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Speaker 2: debris can happen because of a variety of re entering

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Speaker 2: space objects, including things like satellites or launch vehicles that

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Speaker 2: failed to completely burn up as they passed through earth atmosphere.

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Speaker 2: It's not the first time space debris has noticeably fallen

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Speaker 2: in Western Australia. I remember Skylight, or you would. In

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Speaker 2: nineteen seventy nine. I was in primary school and I

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Speaker 2: remember one of my sister's friends in high school. He

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Speaker 2: wore a helmet to school because he refused to take

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Speaker 2: it off. He feared worried about Skylight that Skylab would

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Speaker 2: land on his head.

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Speaker 1: Because a helmet's going to help.

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Speaker 2: It did well on this Fella's not on Larry's head.

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Speaker 2: But he did fall in westn Australia. Nine. I do

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Speaker 2: think he had something to do with the teacher and

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Speaker 2: him taking the mick out of the teacher rather than

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Speaker 2: the child. Okay, I do remember Skylab purely because Larry

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Speaker 2: wearing his helmet at school.

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Speaker 1: Oh that is incredible. You know what, I'm going to

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Speaker 1: keep a US their story for US Sean, and I'll

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Speaker 1: let you know what happens with the WA police investigation

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Speaker 1: into the space debris, and I'll let you know if

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Speaker 1: and when it's confirmed from out of space. Turning to

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Speaker 1: international news now, and new details have emerged of Donald

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Speaker 1: Trump's meeting with Ukrainian leader Vladimir Zelenski, and the meeting

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Speaker 1: was not anywhere near as cordial as originally portray This

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Speaker 1: is this is quite something.

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Speaker 2: Trump urged Zelenski to accept Russia's terms for ending its war,

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Speaker 2: warning that Vladimir Putin had said he would destroy Ukraine

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Speaker 2: if it did not agree. According to report in the Ft,

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Speaker 2: the meeting between the US and Ukrainian presidents descended many

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Speaker 2: times into a shouting match, with Trump cursing all the time,

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Speaker 2: according to people familiar with the matter. They added that

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Speaker 2: the US president tossed aside maps of the front line

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Speaker 2: in Ukraine, insisted Zelenski surrender the entire don Bass region

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Speaker 2: to Putin, and repeatedly eco talking points the Russian leader

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Speaker 2: had made in their call a day earlier. Though Trump

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Speaker 2: later endorsed a freeze of the current front lines, the

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Speaker 2: acrimonious meeting appeared to reflect the US president's position on

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Speaker 2: the war, and he's willing to endorse Putin's maximalist demands.

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Speaker 1: Sean, one of the world's biggest proxy advisors, Institutional Shareholder Services,

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Speaker 1: has perhaps unsurprisingly, urged shareholders of Tesla to vote against

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Speaker 1: the proposed one trillion US dollar It's about one and

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Speaker 1: a half trillion, Ossie. That's a pay packet for Elon Musk.

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Speaker 2: You know, I don't know there's much in this story,

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Speaker 2: but I just like the fact that there's trying to

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Speaker 2: pay Mask one point five trillion dollars over ten years.

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Speaker 2: So Musco overseas five companies, Tesla, SpaceX, Xai, Neuralink, and

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Speaker 2: the boring company. One of the main reasons to pay

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Speaker 2: Musk the huge amount is to retain him and keep

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Speaker 2: his time and attention on Tesla rather than those other

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Speaker 2: business ventures. That's what Tesla says. Under the current proposal, however,

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Speaker 2: there are no explicit requients that actually ensure that will

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Speaker 2: be the case, according to the Institutional Shareholder Services, so

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Speaker 2: it says don't vote for it. In September, Tesla's board

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Speaker 2: proposed the unprecedented conversation package designed to incentivize Musk to

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Speaker 2: unlock the full payout an additional voting control, Musk will

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Speaker 2: need to reach a number of ambitious goals, including growing

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Speaker 2: the company market value to at least eight point five

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Speaker 2: trillion US and expanding its car robotics and rabo tax

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Speaker 2: businesses finally sewn.

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Speaker 1: French police are searching for four suspects believed to have

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Speaker 1: stolen royal jewelry of inestimable historical value from the Louver

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Speaker 1: Museum in Paris, taking eight pieces on Sunday night. I

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Speaker 1: say Sunday night, but that Sunday outdide, this was broad daylight,

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Speaker 1: it was.

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Speaker 2: They tried for nine pieces, but they actually dropped the

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Speaker 2: crown of Empress Eugenie, the wife of Napoleon, the thirds

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Speaker 2: and made their escape, so I only ended up with

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Speaker 2: eight clumsy. The Interior Ministry said that thieves arrived on scooters,

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Speaker 2: high powered scooters, mind you. About nine thirty am entered

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Speaker 2: the Apollen gallery through a window they had broken. The

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Speaker 2: four had their faces covered threads. Security guards with the

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Speaker 2: same tools they used to smash the display cases, then

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Speaker 2: fled on their scooter just like that. They took things

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Speaker 2: like necklaces, brooches, edams, diems I don't know what that

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Speaker 2: word is.

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Speaker 1: I don't know, but it sounds expensive.

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Speaker 2: It's very expensive. The Louver houses the Vinci's Mona Lisa.

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Speaker 2: Of course, they weren't interested in that that had been

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Speaker 2: that was stolen back in nineteen eleven by a handyman,

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Speaker 2: just put it in his pocket, took it home, found

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Speaker 2: it two years later. I uncovered it two years later. Yes,

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Speaker 2: but it sounds like an inspected Gluseo style story this

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Speaker 2: because they just don't high power as good as smashed

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Speaker 2: the window, grabbed the jewels, jumped out.

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Speaker 1: Off they go, and it wasn't even on the ground floor.

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Speaker 1: I think they actually went up the side of the

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Speaker 1: building with like a cage kind of thing like a

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Speaker 1: It's the whole thing is just remarkable. They will make

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Speaker 1: movies out of this one day. But I suspect the

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Speaker 1: priority of the moment it's recovering.

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Speaker 2: Yes, the jewels.

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Speaker 1: Okay. Up next Seawan is Fear and Greed, Q and A.

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Speaker 1: You have two guests in the studio today. You are

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Speaker 1: speaking with Ivan Zau, who is the CEO of Notion,

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Speaker 1: an AI company, and you're speaking with Victor Dominello, who

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Speaker 1: is at the CEO of the Future government institution in.

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Speaker 2: A former New South Wales minister from a few years back.

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Speaker 2: Fantastic chat about how AI is going to affect us,

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Speaker 2: and it's kind of a bit different to you normally, Hey,

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Speaker 2: AI is going to change the world, although that does

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Speaker 2: come into it. We talk about the negatives of AI.

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Speaker 2: We talk about what it actually can do and in

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Speaker 2: terms of jobs, how it will change how people are employed.

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Speaker 2: So it's not so much less about capabilities going forward,

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Speaker 2: more about other things that people can provide to the

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Speaker 2: workplop force. It's a really interesting chat.

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Speaker 1: Yeah, it's interesting because it's coming from inside right, You're

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Speaker 1: actually hearing it from someone who has been This company

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Speaker 1: is thirteen years old and so this is kind of

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Speaker 1: well advanced. So it's a fascinating conversation. Coming up next

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Speaker 1: to the Fear and Gred player liist on your podcast

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Speaker 1: platform or at Fearangreed dot com todayu which is where

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Speaker 1: you sign up for the absolutely cracking daily newsletter. You

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Speaker 1: laugh when I say that, Sean, but it's a top

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Speaker 1: notch publication.

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Speaker 2: Is the top notch publication.

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Speaker 1: If you haven't signed up, I'll put a link in

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Speaker 1: today's show notes. Thank you very much, Sewan.

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Speaker 2: Thank you Michael.

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Speaker 1: It is Tuesday, the twenty first of October twenty twenty five.

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Speaker 1: Make sure you're following the podcast and please join us

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Speaker 1: online on LinkedIn, Instagram, x TikTok and Facebook. I'm Michael

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Speaker 1: Thompson and that was fear and greed. Have a great day.