1 00:00:06,320 --> 00:00:08,880 Speaker 1: Welcome to Fear and Greed business news you can use. 2 00:00:08,960 --> 00:00:11,640 Speaker 1: In a very busy twenty four hours for Canberra, the 3 00:00:11,640 --> 00:00:15,200 Speaker 1: Federal government launches its National AI Plan, releases a report 4 00:00:15,200 --> 00:00:17,840 Speaker 1: into Jobs for Mates, and negotiates with the White House 5 00:00:17,880 --> 00:00:22,079 Speaker 1: over drug costs. Bond yields hit ten month highs, suggesting 6 00:00:22,160 --> 00:00:26,000 Speaker 1: rate rises are coming, and Samsung launches its new trifold 7 00:00:26,079 --> 00:00:30,280 Speaker 1: phone plus. Google fined fifty five million dollars for anti 8 00:00:30,320 --> 00:00:33,760 Speaker 1: competitive behavior and blue collar jobs are safer than white 9 00:00:33,760 --> 00:00:36,960 Speaker 1: collar jobs. It is Wednesday, the third of December twenty 10 00:00:37,000 --> 00:00:40,040 Speaker 1: twenty five. I'm Michael Thompson and good morning Sean Aylmer. 11 00:00:40,240 --> 00:00:41,440 Speaker 2: Morning Michael Sewan. 12 00:00:41,520 --> 00:00:44,400 Speaker 1: The main story this morning. The Federal government is staying 13 00:00:44,440 --> 00:00:47,760 Speaker 1: busy ahead of the holiday season, yesterday launching its National 14 00:00:47,800 --> 00:00:52,080 Speaker 1: AI Plan, releasing a two year old review into Jobs 15 00:00:52,080 --> 00:00:55,760 Speaker 1: for Mates, and conceding that yes, it is in talks 16 00:00:55,840 --> 00:00:58,800 Speaker 1: with the US administration over the price of pharmaceuticals here 17 00:00:58,800 --> 00:01:03,680 Speaker 1: in Australia. Will start with the National AI Plan, light 18 00:01:03,760 --> 00:01:07,840 Speaker 1: on regulation, but it will push tech companies to build 19 00:01:07,840 --> 00:01:09,679 Speaker 1: their own renewable energy sources. 20 00:01:10,680 --> 00:01:14,440 Speaker 2: Yes, it was pretty wishy washy AI Plan. I've got 21 00:01:14,480 --> 00:01:16,600 Speaker 2: to say huge amounts of energy, of course, and needed 22 00:01:16,600 --> 00:01:19,720 Speaker 2: for data centers, which are the essential infrastructure for AI. 23 00:01:20,400 --> 00:01:24,959 Speaker 2: The plan suggests a coordinated approach to energy demand from 24 00:01:25,040 --> 00:01:28,959 Speaker 2: data for data centers with state governments and potentially the 25 00:01:29,000 --> 00:01:31,679 Speaker 2: big tech players. So I suppose that's something to come 26 00:01:31,720 --> 00:01:36,679 Speaker 2: out of it. No proposed new laws to regulate AI. Instead, 27 00:01:36,720 --> 00:01:39,160 Speaker 2: a thirty million dollar Safety Institute will be created to 28 00:01:39,200 --> 00:01:41,200 Speaker 2: advise on the need for new laws on a case 29 00:01:41,240 --> 00:01:45,399 Speaker 2: by case basis. Lots of words around protection, worker rights, 30 00:01:45,440 --> 00:01:52,120 Speaker 2: stuff like that. No kind of exciting vision saying invest 31 00:01:52,160 --> 00:01:54,760 Speaker 2: in Australia and this is what will happen. In fact, 32 00:01:54,800 --> 00:01:57,360 Speaker 2: Industry Minister Tim Air so the plan focused on capturing 33 00:01:57,360 --> 00:02:01,680 Speaker 2: the economic opportunities of AI, share the benefits broadly and 34 00:02:01,800 --> 00:02:06,560 Speaker 2: keeping Australian safe as technology evolves. That doesn't really inspire 35 00:02:06,600 --> 00:02:09,960 Speaker 2: investment as far as I'm concerned. The government's also threatened 36 00:02:09,960 --> 00:02:12,760 Speaker 2: tough intervention if employers behave badly. 37 00:02:12,960 --> 00:02:15,280 Speaker 1: Is it a missed opportunity? Do you think, because this 38 00:02:15,320 --> 00:02:17,840 Speaker 1: space is moving so quickly, you really only get one 39 00:02:17,960 --> 00:02:21,480 Speaker 1: chance to launch a national AI plan and have people 40 00:02:21,520 --> 00:02:24,639 Speaker 1: take notice of it before it's already out gone too far. 41 00:02:27,320 --> 00:02:30,480 Speaker 2: Yes. The flip side the light on regulation isn't a 42 00:02:30,520 --> 00:02:34,160 Speaker 2: bad thing. So if the government had suddenly instituted all 43 00:02:34,160 --> 00:02:37,400 Speaker 2: these rules, businesses would have gotten quite scared. So the 44 00:02:37,440 --> 00:02:41,560 Speaker 2: fact that there aren't rules isn't such a bad thing. 45 00:02:41,919 --> 00:02:44,760 Speaker 2: So perhaps we'll looking back in hindsight and say, hey, 46 00:02:45,160 --> 00:02:47,400 Speaker 2: actually not a bad idea to actually have very little 47 00:02:47,400 --> 00:02:50,480 Speaker 2: in it. Because the market itself is moving so fast. 48 00:02:50,600 --> 00:02:51,799 Speaker 2: They'll make the rules. 49 00:02:51,520 --> 00:02:54,880 Speaker 1: Okay, all right onto the report into the Jobs for 50 00:02:54,960 --> 00:02:59,960 Speaker 1: Mates culture. The government said it'll implement an appointment framework 51 00:03:00,160 --> 00:03:03,720 Speaker 1: to tackle the issue, though it won't actually enact many 52 00:03:03,800 --> 00:03:05,520 Speaker 1: other recommendations from the report. 53 00:03:06,320 --> 00:03:09,080 Speaker 2: No so, the report released yesterday's over two years old, 54 00:03:09,200 --> 00:03:13,799 Speaker 2: says Australian's fear the federal government is appointing overpaid political 55 00:03:13,919 --> 00:03:16,519 Speaker 2: hacks that's a quote to public service jobs. At the 56 00:03:16,560 --> 00:03:20,360 Speaker 2: same time. At the same time, ministers have frustrated that 57 00:03:20,400 --> 00:03:24,800 Speaker 2: officials can't deliver new talent to the bureaucracy. Commissioned by 58 00:03:24,880 --> 00:03:27,400 Speaker 2: Labour in twenty twenty three, the review recommends an independent, 59 00:03:27,440 --> 00:03:30,640 Speaker 2: standard public sector selection process being shrined in law for 60 00:03:30,680 --> 00:03:34,440 Speaker 2: BARD appointments, with fair and open recruitment processes except in 61 00:03:34,520 --> 00:03:38,920 Speaker 2: exceptional circumstances under the discretion of the Prime Minister. Politicians 62 00:03:38,960 --> 00:03:41,240 Speaker 2: and their staff as should be barred from holding government 63 00:03:41,280 --> 00:03:43,960 Speaker 2: board positions within six months of leaving their roles, and 64 00:03:44,080 --> 00:03:47,640 Speaker 2: eighteen months for those previously working in ministerial portfolios. The 65 00:03:48,040 --> 00:03:51,000 Speaker 2: review recommended. Don't even know why I'm saying it, because 66 00:03:51,360 --> 00:03:54,920 Speaker 2: it ain't going to come to pass. The review also 67 00:03:55,040 --> 00:03:57,800 Speaker 2: sought to bar ministers from making appointments within six months 68 00:03:57,840 --> 00:04:01,560 Speaker 2: of a federal election. Basically, the Gape government's not taking 69 00:04:01,640 --> 00:04:03,280 Speaker 2: up the response anyway. 70 00:04:03,880 --> 00:04:08,200 Speaker 1: Is this why it hasn't seen kind of any attention, 71 00:04:08,360 --> 00:04:10,920 Speaker 1: hasn't been released even though it's two years old and 72 00:04:11,000 --> 00:04:14,440 Speaker 1: it's being brought out now started December, after Parliament has 73 00:04:15,320 --> 00:04:17,480 Speaker 1: finished sitting for the year. Just kind of get it out, 74 00:04:17,520 --> 00:04:18,039 Speaker 1: get it out of. 75 00:04:18,000 --> 00:04:21,479 Speaker 2: The way, I suppose, I mean, to be honest. I mean, 76 00:04:22,040 --> 00:04:26,440 Speaker 2: Katie Gallaher yesterday was talking about the Finance Minister was 77 00:04:26,480 --> 00:04:29,520 Speaker 2: talking about the fact that most of this actually fixed 78 00:04:29,560 --> 00:04:33,800 Speaker 2: the coalition government and what happened there. I mean, I 79 00:04:33,839 --> 00:04:36,280 Speaker 2: don't think either side of politics particularly wants to make 80 00:04:36,320 --> 00:04:38,880 Speaker 2: a push on this, and the Greens and the Teals 81 00:04:38,920 --> 00:04:40,920 Speaker 2: were interested in it, but I don't think the two 82 00:04:40,960 --> 00:04:41,800 Speaker 2: major parties. 83 00:04:41,640 --> 00:04:43,960 Speaker 1: So I think I'm a bit cynical today, Sean, I 84 00:04:44,120 --> 00:04:47,000 Speaker 1: just are very simple. I won't be synical about this 85 00:04:47,040 --> 00:04:50,080 Speaker 1: next one. Health Minister Mark Butler has conceded that the 86 00:04:50,120 --> 00:04:53,080 Speaker 1: federal government is in talks with the US administration about 87 00:04:53,080 --> 00:04:54,080 Speaker 1: medicine's prices. 88 00:04:54,920 --> 00:04:58,040 Speaker 2: Yes, well, he wouldn't say whether Washington had asked Australia 89 00:04:58,120 --> 00:05:01,560 Speaker 2: to pay more for American drugs through the Palm Pharmaceutical 90 00:05:01,600 --> 00:05:06,040 Speaker 2: Benefit scheme. I reckon they did. Probably maybe I'm big sendingal. 91 00:05:06,240 --> 00:05:09,520 Speaker 2: Butler is responding to questions about an agreement by Britain 92 00:05:09,920 --> 00:05:12,600 Speaker 2: to pay twenty five percent more for US drugs or 93 00:05:12,640 --> 00:05:17,239 Speaker 2: medicines in exchange for making UK drug makers exempt from tariffs. Yesterday, 94 00:05:17,240 --> 00:05:19,560 Speaker 2: Butler said there had been a significant change of policy 95 00:05:19,560 --> 00:05:22,560 Speaker 2: by the US administration and the local government is talking 96 00:05:22,600 --> 00:05:26,279 Speaker 2: to Washington. The big pharmaceutical call companies about medicine prices. 97 00:05:26,600 --> 00:05:30,800 Speaker 2: The issue here in Australia. The pharmaceutical benefit schemes buys 98 00:05:31,000 --> 00:05:34,240 Speaker 2: medicines in bulk from drug companies gets so much cheaper 99 00:05:34,480 --> 00:05:37,400 Speaker 2: Australians are then charged a flat fee at the pharmacy. 100 00:05:37,760 --> 00:05:39,960 Speaker 2: The government might pay thousands of dollars for a product 101 00:05:40,000 --> 00:05:43,039 Speaker 2: that's ultimately available to a consumer at a maximum of 102 00:05:43,080 --> 00:05:45,680 Speaker 2: thirty one dollars and sixty cents per script. That's going 103 00:05:45,720 --> 00:05:48,000 Speaker 2: to come down to twenty five dollars next month. The 104 00:05:48,120 --> 00:05:53,440 Speaker 2: US argues that's protectionism, and it's a pretty good argument personally, frank. 105 00:05:54,440 --> 00:05:58,080 Speaker 2: So that's really where the where the case sits at 106 00:05:58,120 --> 00:05:58,560 Speaker 2: the moment. 107 00:05:58,839 --> 00:06:01,560 Speaker 1: One more out of can The Albanesi government has launched 108 00:06:01,560 --> 00:06:05,360 Speaker 1: a ten million dollar advertising campaign to promote it's impending 109 00:06:05,680 --> 00:06:08,960 Speaker 1: social media band for children. It's getting very close. 110 00:06:09,880 --> 00:06:13,320 Speaker 2: Kicks in in all weeks time, and yesterday Communications Minister 111 00:06:13,440 --> 00:06:18,039 Speaker 2: Arnika Wells signaled that more platforms could be included now 112 00:06:18,120 --> 00:06:22,680 Speaker 2: so far TikTok, Snapchat, Reddit, ex YouTube, Instagram and Facebook 113 00:06:22,880 --> 00:06:26,680 Speaker 2: that will be required to take reasonable steps to prevent 114 00:06:26,760 --> 00:06:30,000 Speaker 2: persons under sixteen years of age from creating or holding 115 00:06:30,040 --> 00:06:33,920 Speaker 2: an account. The campaign includes six point four million dollars 116 00:06:33,920 --> 00:06:37,159 Speaker 2: of advertising the new rules, and then there's a bunch 117 00:06:37,160 --> 00:06:40,520 Speaker 2: of money for creative costs and market research and stuff 118 00:06:40,600 --> 00:06:41,200 Speaker 2: like that. Yeah. 119 00:06:41,640 --> 00:06:44,120 Speaker 1: The other thing that emerged out of Camber yesterday, Sean, 120 00:06:44,200 --> 00:06:45,839 Speaker 1: was something that we'll probably hear a bit about over 121 00:06:45,839 --> 00:06:50,960 Speaker 1: the coming weeks. The internal review from the coalition's loss 122 00:06:51,040 --> 00:06:54,559 Speaker 1: at the last election has really singled out the Donald 123 00:06:54,600 --> 00:06:58,839 Speaker 1: Trump factor, saying that that turned voters off Peter Dutton, 124 00:06:59,640 --> 00:07:01,800 Speaker 1: and there may have been a point there. And the 125 00:07:01,839 --> 00:07:04,440 Speaker 1: thing that I find fascinating about this is that the 126 00:07:04,600 --> 00:07:08,760 Speaker 1: party is actually considering whether the report needs to be 127 00:07:08,839 --> 00:07:12,880 Speaker 1: censored because it is, according to nine newspapers, too embarrassing 128 00:07:12,960 --> 00:07:13,920 Speaker 1: to be made public. 129 00:07:14,440 --> 00:07:16,360 Speaker 2: That's that right. We all thought it was nuclear. It 130 00:07:16,440 --> 00:07:18,680 Speaker 2: was actually the fact that Peter had done seemed to 131 00:07:19,160 --> 00:07:21,160 Speaker 2: sympathize with Donald Trump. 132 00:07:21,720 --> 00:07:25,200 Speaker 1: There you go. Indeed, markets, where did the local share 133 00:07:25,240 --> 00:07:26,160 Speaker 1: market finish up? 134 00:07:26,240 --> 00:07:31,080 Speaker 2: Yesterday? The S and PAX two hundred closed up slightly. 135 00:07:31,200 --> 00:07:33,680 Speaker 2: Now once again the material stocks, including the big miners, 136 00:07:33,760 --> 00:07:37,800 Speaker 2: led the way. Vhre, Rio Tinto, and Fortescue always more 137 00:07:37,880 --> 00:07:41,360 Speaker 2: than one percent. Energy companies were also higher, while tech 138 00:07:41,480 --> 00:07:43,200 Speaker 2: stocks will hold off. I'm going to do a little 139 00:07:43,240 --> 00:07:45,840 Speaker 2: test here on you, Michael, Oh, yeah, do you know 140 00:07:45,840 --> 00:07:48,280 Speaker 2: what the market closed out? Coud you do the afternoon report? Well? 141 00:07:48,280 --> 00:07:51,160 Speaker 1: Actually I do. I do know it was up point 142 00:07:51,240 --> 00:07:56,720 Speaker 1: two of a percent higher fire and eighty points yesterday sean. 143 00:07:57,800 --> 00:08:00,280 Speaker 2: Eighty five seven, nine point seven zero. But I don't 144 00:08:00,280 --> 00:08:01,000 Speaker 2: want to be a pedant. 145 00:08:01,000 --> 00:08:03,400 Speaker 1: Mich Well, I round up because I'm all about the 146 00:08:03,440 --> 00:08:07,040 Speaker 1: ease of consumption of information. Sean. If you're heading home 147 00:08:07,080 --> 00:08:09,400 Speaker 1: in the afternoon and you're stuck in traffic, you don't 148 00:08:09,400 --> 00:08:10,960 Speaker 1: want decimal points, you want. 149 00:08:10,840 --> 00:08:13,680 Speaker 2: Holding round a numbers. I'm totally with You're. 150 00:08:13,480 --> 00:08:17,200 Speaker 1: Just being a pedant. Okay, bond mark come on, let's 151 00:08:17,200 --> 00:08:19,320 Speaker 1: get let's crank this up a bit. Let's get into 152 00:08:19,360 --> 00:08:24,400 Speaker 1: bond markets. They there's a bit of action. 153 00:08:24,280 --> 00:08:29,920 Speaker 2: Sean, Ah, action are plenty. I mean, Ossie bondyr els 154 00:08:30,000 --> 00:08:34,080 Speaker 2: ten month high is Michael. Yes, Look, don't take drink 155 00:08:34,080 --> 00:08:37,920 Speaker 2: of water. Just actually accept this as an exciting, exciting story. 156 00:08:37,960 --> 00:08:39,760 Speaker 1: It's exciting because of what it means. 157 00:08:40,120 --> 00:08:43,199 Speaker 2: Right, Yes, that's right. So that's the three year bond 158 00:08:43,280 --> 00:08:45,280 Speaker 2: rate rose to three point nine three percent ten years 159 00:08:45,280 --> 00:08:47,920 Speaker 2: at four point sixty two percent. As you know, Michael, 160 00:08:47,960 --> 00:08:50,920 Speaker 2: you just alluded to it. Bond markets trade on interest 161 00:08:50,960 --> 00:08:53,720 Speaker 2: rate expectations. So what the three year rate is telling 162 00:08:53,760 --> 00:08:56,439 Speaker 2: us is that over the next thirty six months or so, 163 00:08:57,000 --> 00:09:00,600 Speaker 2: interest rates are light feed to average thirty three basis 164 00:09:00,600 --> 00:09:03,560 Speaker 2: points higher than what they are now. That's what the 165 00:09:03,559 --> 00:09:05,839 Speaker 2: market's saying. The money market has now priced to a 166 00:09:05,960 --> 00:09:09,200 Speaker 2: seventy percent chance of a reserve of the Reserve Bank 167 00:09:09,240 --> 00:09:12,920 Speaker 2: lifting the official cash rate next year. A week ago, 168 00:09:13,559 --> 00:09:15,480 Speaker 2: I mean, as we record, literally a week ago, it 169 00:09:15,559 --> 00:09:17,840 Speaker 2: was about a seventy percent chance of a rate cut. 170 00:09:18,080 --> 00:09:21,840 Speaker 2: And then we got those October CPI figures. Now they 171 00:09:21,880 --> 00:09:24,800 Speaker 2: sell off in the bond market, sell off price four 172 00:09:25,400 --> 00:09:29,080 Speaker 2: yeels rise. It followed the Japanese bond nils hitting their 173 00:09:29,160 --> 00:09:32,600 Speaker 2: highest level for since two thousand and eight. So plenty 174 00:09:32,640 --> 00:09:33,800 Speaker 2: going on in the bond market. 175 00:09:33,880 --> 00:09:36,319 Speaker 1: Oh, it has been a bumper start to the show. 176 00:09:36,400 --> 00:09:38,240 Speaker 1: We've still got more to come, but we don't have 177 00:09:38,240 --> 00:09:39,920 Speaker 1: a lot of time to do it. Back in a 178 00:09:39,960 --> 00:09:50,160 Speaker 1: moment with the rest of the day's business news, Shawn. 179 00:09:50,240 --> 00:09:53,800 Speaker 1: The Federal Court has ordered Google Asia Pacific to pay 180 00:09:53,800 --> 00:09:57,400 Speaker 1: fifty five million dollars in penalties for engaging in anti 181 00:09:57,480 --> 00:10:01,560 Speaker 1: competitive conduct following an investigation by the Competition Watchdog. 182 00:10:01,960 --> 00:10:05,240 Speaker 2: Between December twenty nineteen and March twenty twenty one, Google 183 00:10:05,280 --> 00:10:08,080 Speaker 2: reached understandings with Telstra and Optus to pre install Google 184 00:10:08,120 --> 00:10:11,600 Speaker 2: Search onto Android phones and not other search engines. As 185 00:10:11,640 --> 00:10:13,680 Speaker 2: part of this deel, Telstra and Optus received a share 186 00:10:13,679 --> 00:10:15,960 Speaker 2: of the revenue Google earned when they displayed ads via 187 00:10:15,960 --> 00:10:19,520 Speaker 2: Google Search. Google admitted it had engaged in anti competitive 188 00:10:19,559 --> 00:10:22,960 Speaker 2: conduct and cooperated with the a Triple C. The ATRIABLEC 189 00:10:23,080 --> 00:10:25,640 Speaker 2: Deputy chair Mit Kao said the penalty sends a strong 190 00:10:25,640 --> 00:10:28,559 Speaker 2: message to all businesses that there are serious and costly 191 00:10:28,600 --> 00:10:32,040 Speaker 2: consequences for engaging in anti competitive conduct. 192 00:10:32,280 --> 00:10:36,440 Speaker 1: Indeed, now sean many blue collar workers are being paid 193 00:10:36,559 --> 00:10:40,120 Speaker 1: more than white collar workers, and the introduction of AI 194 00:10:40,679 --> 00:10:43,480 Speaker 1: is more threatening to office workers than to tradees. 195 00:10:44,240 --> 00:10:47,520 Speaker 2: That's pretty much the findings of an AFR report into 196 00:10:47,559 --> 00:10:50,200 Speaker 2: wages over the last decade. Over the past ten years, 197 00:10:50,440 --> 00:10:54,600 Speaker 2: electricians and plumbers have earned more than financed insurance workers, 198 00:10:54,920 --> 00:10:58,760 Speaker 2: more than media and telcoms employees, that's us, Michael, more 199 00:10:58,800 --> 00:11:01,280 Speaker 2: than professional and scientific staff. Now top of the tree 200 00:11:01,320 --> 00:11:03,600 Speaker 2: have been mining workers who took home on average one 201 00:11:03,679 --> 00:11:07,719 Speaker 2: hundred and fifty six thousand dollars. Sparky's plumbers and garbos 202 00:11:08,200 --> 00:11:10,280 Speaker 2: took home on average one hundred and twenty two thousand, 203 00:11:10,760 --> 00:11:15,679 Speaker 2: finance and insurance employees one hundred and four thousand. Your 204 00:11:15,720 --> 00:11:18,320 Speaker 2: report also goes to talking about data centers. We love 205 00:11:18,400 --> 00:11:22,160 Speaker 2: data centers. They're going to do white color workers out 206 00:11:22,160 --> 00:11:24,920 Speaker 2: of a job, but they need to be built. You 207 00:11:25,040 --> 00:11:28,960 Speaker 2: need carpenters and plumbers and electricians and air conditioning experts. 208 00:11:29,280 --> 00:11:31,840 Speaker 2: They'll work together on complex systems. Be a bit of 209 00:11:31,840 --> 00:11:36,600 Speaker 2: a boom for tradees, not so much for white collar workers. 210 00:11:36,920 --> 00:11:40,360 Speaker 2: Hence AI far greater a threat for those in the 211 00:11:40,400 --> 00:11:43,120 Speaker 2: office than those on site. 212 00:11:43,200 --> 00:11:47,280 Speaker 1: Sean, I'm not seeing a great deal of good news 213 00:11:47,840 --> 00:11:50,480 Speaker 1: for you and for me in this story and the 214 00:11:50,559 --> 00:11:54,079 Speaker 1: data center boom, because like we can write, we can 215 00:11:54,080 --> 00:11:57,679 Speaker 1: host podcasts. AI can do all of that, but I 216 00:11:57,760 --> 00:12:00,240 Speaker 1: don't know about you. I'm not much of a carpenter 217 00:12:00,400 --> 00:12:03,440 Speaker 1: or an air conditioning specialist, or a plumber or an electrician, 218 00:12:03,679 --> 00:12:06,320 Speaker 1: so I'm useless to building data centers. So I've just 219 00:12:06,360 --> 00:12:11,840 Speaker 1: got as reskill upskill. Find any skill that's usable. 220 00:12:11,600 --> 00:12:14,000 Speaker 2: Yeah, yep, yep, Yeah, you can write a book about 221 00:12:14,000 --> 00:12:14,920 Speaker 2: it maybe. 222 00:12:14,720 --> 00:12:17,000 Speaker 1: Yeah, yeah, hey, I can do that, Sean, this is 223 00:12:17,040 --> 00:12:21,720 Speaker 1: a worry. Colin's Foods, the largest operator of KFC stores 224 00:12:21,720 --> 00:12:25,720 Speaker 1: and the Taco Bell franchiser in Australia, said profits for 225 00:12:25,760 --> 00:12:29,360 Speaker 1: these six months to October twelve jumped thirteen percent. 226 00:12:29,760 --> 00:12:32,360 Speaker 2: Lifted and Collins lifted its full year profit guidance with 227 00:12:32,440 --> 00:12:36,360 Speaker 2: strength in its operations in Germany and the Netherlands. As well. Well. 228 00:12:36,400 --> 00:12:40,400 Speaker 2: Things are looking better. Chief executive Xavier Semine said higher 229 00:12:40,480 --> 00:12:42,800 Speaker 2: interstrates could hurt the outlook, and the group share price 230 00:12:43,160 --> 00:12:45,679 Speaker 2: price finished down about three and a half percent. Been 231 00:12:45,720 --> 00:12:47,559 Speaker 2: a bit of action in the fast food sector. One 232 00:12:47,559 --> 00:12:49,360 Speaker 2: we didn't talk about last week, but we should have. 233 00:12:49,800 --> 00:12:54,000 Speaker 2: Chicken Group El Janner started in Sydney's western subburbs, sold 234 00:12:54,000 --> 00:12:56,040 Speaker 2: a private equity for almost a billion dollars. 235 00:12:56,120 --> 00:12:58,760 Speaker 1: Yeah, that's an incredible success story, that one. Turning to 236 00:12:59,000 --> 00:13:04,120 Speaker 1: international news, Sean negotiations for peace between Russia and Ukraine continue, 237 00:13:04,360 --> 00:13:09,960 Speaker 1: and President Vladimir Zelenski said Kiev's priorities are maintaining Ukraine's 238 00:13:10,000 --> 00:13:13,440 Speaker 1: sovereignty and securing strong security guarantees. 239 00:13:14,000 --> 00:13:17,000 Speaker 2: He said the territorial issue is the most difficult, as 240 00:13:17,080 --> 00:13:19,480 Speaker 2: Russia continues to demand that Ukraine give up areas of 241 00:13:19,480 --> 00:13:23,079 Speaker 2: eastern don Bass region that it still holds. Kiev maintains 242 00:13:23,120 --> 00:13:26,800 Speaker 2: it will never do that. Zelensky was speaking after meeting 243 00:13:26,800 --> 00:13:29,679 Speaker 2: French President Emanuel Macron in Paris, where he joined a 244 00:13:29,720 --> 00:13:33,000 Speaker 2: core with European leaders, including those of the UK, Germany, 245 00:13:33,000 --> 00:13:36,800 Speaker 2: Poland Initially. Meanwhile, Ukrainian and US negotiators finished two days 246 00:13:36,800 --> 00:13:38,880 Speaker 2: of meetings in Florida as they worked to revise a 247 00:13:38,880 --> 00:13:44,080 Speaker 2: peace plan viewed as favoring Russia. US Special Envoy Steve Witkoff, 248 00:13:44,320 --> 00:13:47,079 Speaker 2: who attended the talks with the Ukrainian delegation, is now 249 00:13:47,120 --> 00:13:50,559 Speaker 2: bound for Russia, where he will meet Russian President Vladimir Pertin. 250 00:13:51,360 --> 00:13:53,480 Speaker 2: They will be joined by President Trump's son in law 251 00:13:53,480 --> 00:13:57,240 Speaker 2: and advisor, Jared Kushna. That's all according to BBC, that 252 00:13:57,280 --> 00:13:58,800 Speaker 2: meeting's occurring about now. 253 00:14:00,000 --> 00:14:01,760 Speaker 1: Finally, Sean, I don't know what to make of this one. 254 00:14:02,080 --> 00:14:09,120 Speaker 1: Samsung has unveiled its first ever trifold smartphone. Okay, it 255 00:14:09,200 --> 00:14:14,680 Speaker 1: demonstrates clear engineering prowess and in foldable devices, but the 256 00:14:14,720 --> 00:14:19,280 Speaker 1: broader category still hasn't actually caught on with mainstream consumers. 257 00:14:19,280 --> 00:14:21,360 Speaker 1: So it feels like the technology is actually kind of 258 00:14:21,360 --> 00:14:23,560 Speaker 1: almost outpacing the demand right now. 259 00:14:24,160 --> 00:14:26,480 Speaker 2: Yeah, but I like this one. So. The handset, called 260 00:14:26,520 --> 00:14:31,920 Speaker 2: the Galaxy Z trifold, is part of a small subset 261 00:14:31,960 --> 00:14:35,840 Speaker 2: of folding phones that have two hinges. Basically you can 262 00:14:36,520 --> 00:14:41,400 Speaker 2: transform them into a larger tablet sized device. Now, Samsung's 263 00:14:41,440 --> 00:14:45,960 Speaker 2: initially launching the device in South Korea, Plans for the US, China, Taiwan, Singapore, 264 00:14:46,320 --> 00:14:51,120 Speaker 2: UAE no announcement on Australia. Yet now that's a trifol. 265 00:14:51,240 --> 00:14:54,720 Speaker 2: Apple next year is expected to announce its first folding 266 00:14:54,880 --> 00:14:59,720 Speaker 2: phone is a bifold right, but when closed, the trifolds 267 00:14:59,720 --> 00:15:04,239 Speaker 2: out screen offers similar dimensions to a regular smartphone. When unfooled, 268 00:15:04,560 --> 00:15:07,360 Speaker 2: there's a good word, provides a tablet style experience with 269 00:15:07,400 --> 00:15:10,600 Speaker 2: a ten inch display. According to Bloomberg, what I like 270 00:15:10,640 --> 00:15:14,280 Speaker 2: most of all that in a tablet like mode, each 271 00:15:14,480 --> 00:15:18,720 Speaker 2: of the device's screens can independently run a different app. 272 00:15:19,360 --> 00:15:24,080 Speaker 2: So it's like having three separate phones side by side 273 00:15:24,520 --> 00:15:26,280 Speaker 2: that you can run. Isn't that cool? 274 00:15:26,520 --> 00:15:30,280 Speaker 1: That is very, very very cool. I could feel completely 275 00:15:30,360 --> 00:15:33,880 Speaker 1: overwhelming and over stimulating, but it would be so cool 276 00:15:33,960 --> 00:15:39,600 Speaker 1: to just unleash that thing and just suddenly you take it. 277 00:15:40,080 --> 00:15:42,800 Speaker 2: You mean, unfurlss unfurlish. 278 00:15:42,200 --> 00:15:44,480 Speaker 1: And away you go. Well, that's a heck of a story. 279 00:15:44,520 --> 00:15:44,840 Speaker 2: That one. 280 00:15:45,160 --> 00:15:47,800 Speaker 1: Up next Sean is Fear and Greed Q and A. 281 00:15:48,120 --> 00:15:50,840 Speaker 1: And your guest today is John o'laughlan, who is the 282 00:15:50,880 --> 00:15:53,320 Speaker 1: managing director of Coinbased Australia. 283 00:15:54,000 --> 00:15:58,600 Speaker 2: Plenty going on in cryptocurrency markets, Bitcoin particularly, it's down 284 00:15:58,640 --> 00:16:01,920 Speaker 2: about twenty five percent since peak, so we ask him 285 00:16:02,000 --> 00:16:06,280 Speaker 2: about that and what to do when you're investing in cryptos, 286 00:16:06,600 --> 00:16:08,560 Speaker 2: not so much whether they're going to go up or down, 287 00:16:08,960 --> 00:16:10,120 Speaker 2: but how you can do it safely. 288 00:16:10,440 --> 00:16:14,160 Speaker 1: Yeah, it's a great chat. John joined us from India, 289 00:16:14,720 --> 00:16:17,600 Speaker 1: where which is one of the areas that he's looking after, 290 00:16:18,520 --> 00:16:21,160 Speaker 1: great insights. He's always been terrific whenever we speak to him. 291 00:16:21,160 --> 00:16:22,760 Speaker 1: It's coming up next to the Fear and Greed playlist 292 00:16:22,800 --> 00:16:25,680 Speaker 1: on your podcast platform or at Fearangreed dot com dot au, 293 00:16:25,720 --> 00:16:27,760 Speaker 1: which is where you sign up for the free daily newsletter. 294 00:16:27,800 --> 00:16:29,440 Speaker 2: Thank you Sean, Thank you Michael. 295 00:16:29,600 --> 00:16:32,600 Speaker 1: It's Wednesday, the third of December twenty twenty five. Make 296 00:16:32,640 --> 00:16:34,920 Speaker 1: sure you're following the podcast and please join us online 297 00:16:34,960 --> 00:16:38,200 Speaker 1: on LinkedIn, Instagram, x TikTok and Facebook. Oh, Michael Thompson, 298 00:16:38,240 --> 00:16:42,560 Speaker 1: And that was Fear and Greed. Have a great day.