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Speaker 1: Today on Fear and Greed, Donald Trump threatens to double

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Speaker 1: the tax rate paid by foreigners, including Australian individuals and

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Speaker 1: companies operating in the US. Quantas overhauls its Frequent Flyer program,

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Speaker 1: and Netflix hits three hundred million subscribers globally thanks to

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Speaker 1: squid Game and the Mike Tyson b Jake Paul Fight.

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Speaker 1: Plus the local share market gets within one percent of

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Speaker 1: an all time record, and Commonwealth Bank named Australia's most

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Speaker 1: valuable brand. Welcome to Fear and Greed, Daily business news

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Speaker 1: for people who make their own decisions. It is Thursday,

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Speaker 1: the twenty third of January twenty twenty five. I'm Michael

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Speaker 1: Thompson and 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. President Donald Trump has suggested

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Speaker 1: he could impose tariffs on China next week and double

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Speaker 1: tax rates for foreign individuals and companies working in the

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Speaker 1: United States.

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Speaker 2: The rush of announcements continue, Michael. He was talking about

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Speaker 2: ten percent tariffs on China. He said they stood on

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Speaker 2: the table probably one February, is what he said. The reason, well,

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Speaker 2: China is selling fentanyl to Mexico and Canada. The new

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Speaker 2: US President claims hence he thought that they should be

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Speaker 2: getting some sort of terrify on them. Previously, he had

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Speaker 2: threatened sixty percent tariffs, so I suppose ten percent tariff

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Speaker 2: ain't too bad. He's already said that he wants to

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Speaker 2: put twenty five percent tariffs on goods out of Mexico

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Speaker 2: and Canada from February one. What else did he say, Well,

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Speaker 2: don't rule out further sanctions against Russia. He talked about

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Speaker 2: European countries contributing more to NATO. He talked about one

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Speaker 2: point five million Ukrainians and Russians combined lost in the war,

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Speaker 2: and the number is probably closer to two hundred two

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Speaker 2: hundred and fifty thousand. That's from estemus from Russia and Ukraine.

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Speaker 2: Donald Trump reckons there's one point five million Ukrainians and

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Speaker 2: Russians that have died. He directed all federal diversity equity

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Speaker 2: and inclusions stuff to be put on paid leave. Agencies

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Speaker 2: now need to develop plans to get rid of them.

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Speaker 2: He's taken down all publicly focused DEI web pages diversity

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Speaker 2: equit inclusion web pages. He said he's open to elon

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Speaker 2: Musk buying TikTok now it's actually the US version of TikTok.

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Speaker 2: He's got six hundred million monthly YEARSS on X. Now

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Speaker 2: in the US TikTok has about one hundred and twenty

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Speaker 2: million YEARSS, so that means Elon Musk could get some

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Speaker 2: sort of control over them as well. Donald Trump announced

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Speaker 2: a massive investment program worth up to five hundred billion

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Speaker 2: US dollars, talking about eight hundred billion Ozzie for infrastructure

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Speaker 2: tied to artificial intelligence. He formed a new partnership called

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Speaker 2: it Stargate. Groups involved include open Ai, Oracle soft Bank.

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Speaker 2: The idea is that they build big data centers. Because

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Speaker 2: we know that there's a lot of energy needs for

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Speaker 2: the next decade or two decades. These data centers need

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Speaker 2: to be built. And that's what that's all about, mister Trump.

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Speaker 2: Yesterday started the day with the National Prayer Service. Reverend

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Speaker 2: Maryanne Buddy lectured him on LGBTQ and immigrant rights, begged

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Speaker 2: him to have mercy on scared families. Afterwards, when he

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Speaker 2: was asked about it, Trump described the service as not

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Speaker 2: too exciting.

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Speaker 1: And then what had he gone to say after that?

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Speaker 1: He said, I didn't think it was a good service.

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Speaker 1: They can do much better. It's just constantly providing feedback.

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Speaker 1: What I thought was interesting about that service was it's

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Speaker 1: probably not something that the President's going to hear a

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Speaker 1: lot that kind of very direct feedback to his face,

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Speaker 1: considering kind of the appointments that are around him and

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Speaker 1: what we saw last time, where there wasn't a great deal.

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Speaker 2: Of candid feedback.

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Speaker 1: Candid feedback exactly, and the only difference this time was

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Speaker 1: that it was delivered very, very publicly. Sean, is there

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Speaker 1: anything yet that's likely to directly hit Australians and Australian companies?

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Speaker 1: I suppose the tax potential for tax changes is the

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Speaker 1: big one.

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Speaker 2: Yeah, it is. He didn't specifically mention Australia, but he

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Speaker 2: did threaten double tax rates for foreign nationals that would

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Speaker 2: be any Australian working in the US and for foreign

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Speaker 2: companies operating in the US. He said he wants to

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Speaker 2: hit back at discriminatory levies on American multi nationals in

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Speaker 2: his America First trade policy. The US President referred to

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Speaker 2: a rather obscure ninety year old provision in the US

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Speaker 2: tax Code that empowers him to retaliate against foreign countries

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Speaker 2: by imposing punitive taxes on their citizens and businesses. In America.

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Speaker 2: According to the ft, so that certainly got things moving globally.

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Speaker 2: Yesterday when he started talking about doubling tax rates for

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Speaker 2: foreign nationals and companies. Otherwise, the Foreign Minister, Penny Wong

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Speaker 2: held talks with Marco Rubio, the new US Secretary of State.

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Speaker 2: She said that the talks were focus on the economic

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Speaker 2: ties with the US. She actually downplayed tariff concerns. The

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Speaker 2: bottom line and all this. No one knows, who knows

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Speaker 2: what's going to happen.

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Speaker 1: It's pretty good though that within twenty four hours our

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Speaker 1: foreign minister is already having those conversations.

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Speaker 2: Yeah, yes, you're right there. I mean it shows that

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Speaker 2: we're a significant partner to the US. Yeah.

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Speaker 1: Absolutely, We're not second week or third week. We are

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Speaker 1: kind of first couple of days. That's good. I like that.

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Speaker 2: It's good.

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Speaker 1: All right back home again now. Sean and New South

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Speaker 1: Wales police have arrested a man for allegedly spray painting

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Speaker 1: swastikas and trying to set fire to a synagogue, just

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Speaker 1: as federal police claim that foreign actors could be paying

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Speaker 1: local criminals to commit anti Semitic acts.

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Speaker 2: Very worrying. On Tuesday, the Australian Federal Police Commissioner Reese

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Speaker 2: Kershaw said, police we're looking into the possibility that overseas

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Speaker 2: parties had paid local criminals. Yesterday, Anthony Albernizi was asked

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Speaker 2: about it. He wouldn't be drawn on it, and he

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Speaker 2: actually wouldn't say too much about the National Habnet meeting

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Speaker 2: that occurred on Tuesday night either. He did say, though,

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Speaker 2: that some of the perpetrators aren't being motivated by ideology.

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Speaker 2: They're just being paid and that's why they're doing it.

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Speaker 2: Not clear who's making those payments, but in his point

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Speaker 2: being that it was a financial decision, not an ideological decision.

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Speaker 1: All right, Plenty still to come today, Seawan. We are

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Speaker 1: talking Quantas overhauling its frequent flyer program, Commonwealth Banks, valuable brand,

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Speaker 1: Netflix and its subscriber Boom. So much still to come.

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Speaker 1: Don't go anywhere. We'll be back in a moment with

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Speaker 1: the rest of the day's business news, Sean. Donald Trump's

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Speaker 1: push into oil and gas has hit local energy leader Woodside,

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Speaker 1: with the group pausing work on a large scale hydrogen

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Speaker 1: development and solar project.

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Speaker 2: It came just twenty four hours after the inauguration. Now,

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Speaker 2: just immediately after the inauguration, Donald Trump came out and

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Speaker 2: said that he would allow once again drilling in the Arctic.

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Speaker 2: CEO of Woodside Mego Neil said, in the US, free

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Speaker 2: markets and capital markets determine the pace of investment. Sometimes

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Speaker 2: read between the lines. Clearly, the regulatory in the environment

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Speaker 2: in the US is much more friendly now to oil

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Speaker 2: and gas, less so to green energy. Woodside is still

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Speaker 2: pushing ahead with some green energy projects, including its Bow

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Speaker 2: Ammonia project in the south of the US, and late

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Speaker 2: last year Woodside brought a US L and G project

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Speaker 2: for one point two billion dollars. It's got to decide

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Speaker 2: whether or not to go ahead with that project in

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Speaker 2: the next couple of months. Given the regulatory changes in

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Speaker 2: the US, certainly the demand for energy in the US,

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Speaker 2: I reckon that project will get the go ahead now.

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Speaker 2: It's amazing how quickly Donald Trump's ascension has changed decisions

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Speaker 2: from companies over the past year. Force Fu Metal's Origin

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Speaker 2: have both back down in green projects. BP and Shell

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Speaker 2: have done that also, Woodside have done it now its

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Speaker 2: share price Woodside share price closed down to is sent

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Speaker 2: yesterday Sewan.

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Speaker 1: Over the last couple of years, there's been a lot

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Speaker 1: of talk, some very optimistic targets for new homes being

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Speaker 1: built in Australia, but the number is way, way way

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Speaker 1: below the government's target, with just forty three thousand new

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Speaker 1: dwellings being built in the first three months of the

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Speaker 1: National Housing Accord.

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Speaker 2: So that was for the September twenty four quarter. Figures

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Speaker 2: from the Bureau of Statistics came out yesterday forty two

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Speaker 2: hundred and forty seven dwelling commencements, so they're not even

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Speaker 2: final bills, they're actually dwelling commencements. Good news is it's

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Speaker 2: about eight percent higher than a year earlier. Bad news

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Speaker 2: is nowhere near the government's forecast now under the National Sorry,

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Speaker 2: the government's target under the National Housing of Coorn, one

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Speaker 2: point two million homes should be built over five years

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Speaker 2: from the middle of last year. Canber is providing about

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Speaker 2: three and a half billion dollars to the state's territories

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Speaker 2: and local governments to get it done. If you do

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Speaker 2: the math, you need a run rate of sixty thousand

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Speaker 2: per quarter. Only twice in the last eight years have

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Speaker 2: two thousand new homes and new dwelling commencements began in

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Speaker 2: a quarter, and certainly didn't happen in the last September quarter,

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Speaker 2: it was only forty three thousand, so.

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Speaker 1: It might be a little optimistic.

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Speaker 2: You reckon then, Sean, Yeah, well, a little bit of

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Speaker 2: work today, shall we say a.

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Speaker 1: Little bit might be understating it a little bit. The

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Speaker 1: local share market, Sean hit a new seven week intra

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Speaker 1: day high to only one percent off its all time high.

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Speaker 2: Now, sure is investors like what they're hearing from Donald Trump. Obviously.

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Speaker 2: It closed up zero point three percent yesterday to four

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Speaker 2: hundred and thirty points. Uranium stocks did best, closely followed

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Speaker 2: by the big tech companies big minus with the underperformers. Basically,

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Speaker 2: tech stocks jumped on the news of that Stargate project.

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Speaker 2: All that money of five hundred billion US dollars going

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Speaker 2: into data center's artificial intelligence infrastructure. That helped companies here

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Speaker 2: like Weistech Global, Promedicus zero come off. Bank mcquarie also

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Speaker 2: did well. A few bit of corporate news around Middle

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Speaker 2: Cent Group by Luco fell after a disappointing quarterly production report.

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Speaker 2: Uranium minor Paladin jumped sharply after output for the December

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Speaker 2: quarter met expectations, and be Jenezy rose after its December

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Speaker 2: quarter production report.

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Speaker 1: Yeah we've got a great interview coming up for investors

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Speaker 1: after the show. Sean, you're speaking with Ben Gilbert from

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Speaker 1: jardin Australia.

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Speaker 2: We are. We're talking about the sale of the closure

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Speaker 2: of catch by wes Farmers, the e commace business that

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Speaker 2: Wes Farmers owns. That's where we start, and then we

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Speaker 2: talk about e commas players in Australia, the little ones

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Speaker 2: like Cogan right through to the the heemouths like wes

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Speaker 2: Farmers and Woollies and Amazon. We talk about the economics

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Speaker 2: of them and how to invest in them. It's a

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Speaker 2: really fascinating chat. Whenever you talk to Ben, you have

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Speaker 2: a good talk, but not about it.

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Speaker 1: Yeah, I reckon Ben would have to be one of

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Speaker 1: the best in the country at simplifying and explaining some

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Speaker 1: of the starter and just putting it in easy to

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Speaker 1: understand kind of terms that any investor will be able

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Speaker 1: to get some value out of. So stick around. That

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Speaker 1: one's coming up after the show. International Markets. What's going

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Speaker 1: on there?

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Speaker 2: Oil? Oil, oil, oil or good news? At the bowser

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Speaker 2: Michael Donald Trump wants to drill for more oil. Well,

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Speaker 2: that means more supply, push it down prices. Brent crude

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Speaker 2: is back below seventy nine US dollars a barrel goals,

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Speaker 2: pushing back towards record levels, trading around twenty seven to

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Speaker 2: fifty US dollars an ounce. You know, in a volatile

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Speaker 2: Trump world, throwing your money and goals not a bad

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Speaker 2: place to be, well, at least that's what investors think.

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Speaker 2: Always trading just over one hundred US dollars a ton

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Speaker 2: in the Aussie dollars back blow sixty three US cents.

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Speaker 1: Quantus has overhauled its frequent Flyer program. We mentioned this

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Speaker 1: earlier in the show Sean, meaning that you are going

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Speaker 1: to need more points to travel on some international routes.

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Speaker 2: Yes, so the trade off is that's actually easier to

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Speaker 2: use Quantus Frequent Flyer points on partner airlines Air France KLM, Finnair,

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Speaker 2: for example. But basically, the number of points required to

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Speaker 2: book Classic Rewards fares will rise by between five and

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Speaker 2: twenty percent on certain Quantus routes. The number of points

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Speaker 2: needed for Classic upgrades and bookings and partner airlines will

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Speaker 2: also rise from August. This is all going on as Quantus'

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Speaker 2: share price hit a record high yesterday of nine dollars

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Speaker 2: forty four. It's about its previous peak was nine dollars

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Speaker 2: thirty nine. It's actually quadruple since it's COVID low back

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Speaker 2: in March twenty twenty. Quite a phenomenal run. Now, this

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Speaker 2: time the spike was as much about lower fuel prices

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Speaker 2: on the back of Donald Trump's comments rather than the

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Speaker 2: actual frequent fly program. But it's a stock which has

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Speaker 2: done really really well.

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Speaker 1: Comonwealth Bank is the country's most valuable brand sean, but

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Speaker 1: I reckon. The standout here is the remarkable recovery of

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Speaker 1: the big supermarkets. Will These and Coals. They have rebounded

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Speaker 1: from what can only be described as an uncomfortable twenty

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Speaker 1: twenty four to be back in the top five.

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Speaker 2: I agree quite remark. I suppose we use them all

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Speaker 2: all the time, but they.

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Speaker 1: Got hammered hammered last year. I think there was all

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Speaker 1: the allegations of price gouging, There was the investigation into

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Speaker 1: sham specials, and there was brand survey after brand survey

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Speaker 1: last year that just said Coals and Woolies have plummeted

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Speaker 1: down the list. So this is quite a remarkable comeback.

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Speaker 2: It is, and it's a value of the brand, which

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Speaker 2: is a bit different to reputation, so that is one

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Speaker 2: thing point in terms of the value of the brand.

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Speaker 2: Common Bank comes in at number one, Woolies, then Telstra,

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Speaker 2: then A and Z, then Cole's Brand Finance Australia's annual

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Speaker 2: survey looks at how much of a company's profits are

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Speaker 2: attributable to its brand. Other companies to share improvement and

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Speaker 2: brand value include Quantas. After an absolute horror show in

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Speaker 2: twenty twenty three, Jetstar, Dito and CAW came outsne really

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Speaker 2: well on the back of the Enco products that they're selling.

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Speaker 2: Some of the notable declines for to Skew Metals, Harvey

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Speaker 2: Norman and BHP. Optus once again slid further, but we

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Speaker 2: could have said that anytime the last two or three years.

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Speaker 1: I think Unfortunately, a fairly consistent story for Optus, isn't it.

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Speaker 1: Turning to international news now, Netflix added a record nineteen

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Speaker 1: million subscribers in the December quarter as viewers flocked to

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Speaker 1: stream the new installment of Squid Game.

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Speaker 2: God.

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Speaker 1: There was a lot of ads leading up because it

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Speaker 1: launched on Boxing Day, I think it was, and it

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Speaker 1: was just add after ad. Every bus stop, everything everywhere

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Speaker 1: was advertising Squid Game that had a lot of live

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Speaker 1: sporting events, the big Big, the much hyped boxing match

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Speaker 1: between Mike Tyson and Jake Paul.

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Speaker 2: Did you watch it, Sean, No, No, did you watch it?

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Speaker 1: I did?

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Speaker 2: I did.

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Speaker 1: I'm like the the I don't know get I get

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Speaker 1: sucked into the hype around these big events and I

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Speaker 1: have to watch it. If I don't watch it, I'm

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Speaker 1: missing out on something, which is what they want you

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Speaker 1: to feel, right, And so I watched it.

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Speaker 2: Entertaining.

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Speaker 1: It was entertaining. It was a little bit uncomfortable because

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Speaker 1: of the significant age gap.

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Speaker 2: Fair enough, fair enough well. At the end of last year,

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Speaker 2: Netflix had three hundred and one million subscribers, fifteen percent

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Speaker 2: higher than a year earlier. Its share price surged on

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Speaker 2: that news. It's up eighty percent over the last year.

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Speaker 2: Netflix said it would raise prices in the US, Canada,

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Speaker 2: Portugal and Argentina. Why because it can? I think the

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Speaker 2: answer to that it hasn't said that it's going to

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Speaker 2: raise prices in Australia. The streaming group made a big

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Speaker 2: push into live sporting events in that final quarter last year.

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Speaker 2: Tyson v. Paul was the big one, sixty five million

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Speaker 2: streams worldwide. Also the big shows for the quarter on

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Speaker 2: Christmas day, it streamed a pair of National Football League games,

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Speaker 2: one of them featured Beyonce at halftime, that reached an

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Speaker 2: average of twenty four million viewers on Christmas Day. Well,

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Speaker 2: I suppose it to be with your family. You may

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Speaker 2: as well watch the footy rather than talk to him.

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Speaker 2: I don't know the So their debut of the second season,

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Speaker 2: a squid game in its first week sixty eight million views.

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Speaker 2: How's that?

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Speaker 1: That's huge. I'm not even going to ask you if

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Speaker 1: you watched it. You just don't watch anything. You're just

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Speaker 1: not in touch with popular culture.

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Speaker 2: Ah, Sean, No, No, that's fair enough. No, I'm not

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Speaker 2: come on, fight back.

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Speaker 1: Where's the spirit today?

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Speaker 2: Here?

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Speaker 1: Sean? One you will have seen I'm sure you will

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Speaker 1: have seen this nineteen sixty nine Porsche which is used

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Speaker 1: in the Steve McQueen film. That you would have seen, Sean,

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Speaker 1: because it's your vintage Lemon, which is nineteen seventy one.

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Speaker 1: The film came.

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Speaker 2: Out too early for me, Michael, too early.

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Speaker 1: God, have you seen it swinging a miss?

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Speaker 2: No?

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Speaker 1: I haven't. Oh, but to be fair, that was what

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Speaker 1: fifteen years before I was even born.

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Speaker 2: So you're having a go at mate, And that was

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Speaker 2: how many years before I was born. And it's not good,

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Speaker 2: let's not.

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Speaker 1: It's currently owned by Jerry Seinfeld. The Porsche it failed

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Speaker 1: to sell at auction over the week can being taken

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Speaker 1: off off the market when bidding got to forty million

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Speaker 1: US dollars.

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Speaker 2: Yeah, so, firstly, is it Porsche or Porsche? Porsche Porsche?

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Speaker 2: I say that.

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Speaker 1: I say that with with conviction, without one, one hundred

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Speaker 1: percent sure.

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Speaker 2: But so it's Porsche. It's at nine to one seven K.

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Speaker 2: I'm assuming it's a nine one seven kine nine hundred

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Speaker 2: and seventeen k oh dear. Yeah, so the Porsche nine

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Speaker 2: one seven K one of the most recognizable Porsches in history.

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Speaker 2: It would have been the most expensive if its sold

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Speaker 2: for forty million dollars. There's an auction in Florida. There

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Speaker 2: are forty five hundred cars up for sale, and we're

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Speaker 2: talking top notch here. Bidding began at twenty million, twenty

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Speaker 2: one million dollars. Jerry Seinfeld apparently bought it in two

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Speaker 2: thousand and two for six million dollars. Media reports say

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Speaker 2: he still owns it. Funny thing it got to forty

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Speaker 2: million dollars and the auctioneer took the car off the market.

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Speaker 2: No one's quite sure why, so we have to wait

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Speaker 2: and see about that. The highest seller on the day

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Speaker 2: that actually with a hammer came down was a nineteen

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Speaker 2: sixty six Ford g T forty eleven million dollars. One

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Speaker 2: for you, the nineteen sixty seven Jaguar ed type roadster

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Speaker 2: used in the Austin Powers movies. The Shagua Yes, went

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Speaker 2: for one point four million dollars.

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Speaker 1: Oh, that's a bargain, I think, yes, absolutely, just just

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Speaker 1: for a sixties jag of any kind of variety, let

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Speaker 1: alone the fact that it was used in an Austin

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Speaker 1: Powers movie, multiple Austin Powers movies. That would be if

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Speaker 1: I had one point four million. I mean, I'm probably

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Speaker 1: paying off the mortgage. But yeah, if I once i'd

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Speaker 1: pay that off, i'd be buying that car. Yeah, and

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Speaker 1: I wish to retract what I said earlier about the pronunciation.

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Speaker 1: There's a fair chance it could in fact be pronounced Porsche.

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Speaker 2: I think it is Porsche Action.

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Speaker 1: And that's the closest you will ever get to me

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Speaker 1: admitting that I was.

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Speaker 2: Fonsie style.

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Speaker 1: Next is the Fear and Greed Daily Interview with Ben

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Speaker 1: Gilbert from Jardin Australia a great one for investors. It

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Speaker 1: is coming up in the Fear and Greed playlist on

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Speaker 1: your podcast platform or at Fearangreed dot com dot au.

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Speaker 1: Thank you very much, Sean.

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Speaker 2: Thanks Michael.

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Speaker 1: It is Thursday, the twenty third of January 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. Michael Thompson.

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Speaker 2: That was Fear and Greed.

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Speaker 1: Have a great day.