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Speaker 1: Today on Fear and Greed, Susan Lee becomes the first

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Speaker 1: female leader of the Liberal Party, but is the job

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Speaker 1: a poison chalice? Share market surge on news of a

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Speaker 1: ninety day pause in the US China tariff war and

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Speaker 1: Apple's big plans to make iPhone batteries last longer, plus

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Speaker 1: consumer sentiments remain stuck in the doldrums, and bitcoin once

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Speaker 1: again becomes a favorite of investors. Welcome to Fear and Greed,

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Speaker 1: Daily business news for people who make their own decisions.

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Speaker 1: It is Wednesday, the fourteenth of May twenty twenty five.

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Speaker 1: I'm Michael Thompson and good morning Sean Aylmer.

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Speaker 2: Good morning Michael, Sean.

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Speaker 1: It must be pointed out that you and I are

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Speaker 1: not in the studio together.

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Speaker 2: Right now, not today.

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Speaker 1: You are broadcasting this morning from en route to the

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Speaker 1: ride for Country Kids.

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Speaker 2: And a couple of hours we bought a bus we

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Speaker 2: head to Burke and tomorrow morning I'll be recording from

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Speaker 2: Burke and then basically we start writing after the show

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Speaker 2: one hundred and I think one hundred and twenty seven

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Speaker 2: kilometers tomorrow burked Koba.

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Speaker 1: You're going to feel that I am And look, if

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Speaker 1: anyone would like to donate to support to make all

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Speaker 1: those kilometers worthwhile we're raising money for country kids. This

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Speaker 1: is part of the Royal Far West Ride for Country Kids.

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Speaker 1: You can head along to the link in today's show

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Speaker 1: notes and if you're able to donate, it is very

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Speaker 1: much appreciated. Sean the main story this morning, Better get

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Speaker 1: on with the show. Susan Lee has become the first

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Speaker 1: female leader of the Liberal Party in its eighty one

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Speaker 1: year history, beating Angus Taylor by just four votes in

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Speaker 1: the race to replace Peter Upton.

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Speaker 2: It was a win for the moderates in the Liberal Party,

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Speaker 2: but the narrowness of the victory doesn't really augur well

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Speaker 2: for a unified party in the future. Two Lee supporters,

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Speaker 2: Senator Linda Reynolds and Holly Hughes, will leave Parliament on

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Speaker 2: thirty June after failing to win seats at the last election.

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Speaker 2: That means that the difference between the votes comes down

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Speaker 2: even further. Lee entered parliament in two thousand and one.

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Speaker 2: She was the deputy of the party under Peter Dutton.

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Speaker 2: Her deputy will be Ted O'Brien, who beat Queensland of

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Speaker 2: Phil Thompson thirty eight votes to sixteen O'Brien is probably

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Speaker 2: most famous for being the architect of the Liberals nuclear

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Speaker 2: power policy. Nationals defector Just Enterprise did not contest the

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Speaker 2: deputy role after Taylor lost the vote for the top job.

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Speaker 2: Taylor's likely to lose the shadow Treasury gig. That's likely

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Speaker 2: to go to O'Brien or potentially Tim Wilson. At least yesterday,

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Speaker 2: party spokespeople pushed the need for unity within the Liberals.

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Speaker 1: How likely is that, though, Sean, Because I mean, this

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Speaker 1: is a really tough gig, being the leader of the

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Speaker 1: opposition up against a government that has won not just

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Speaker 1: a majority, but a massive massive majority. So facing kind

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Speaker 1: of three years minimum in opposition, likely six years. Is

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Speaker 1: Susonly actually a winner in all of this? Or is

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Speaker 1: her job kind of somewhere between a rock and a

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Speaker 1: hard place.

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Speaker 2: Look, no doubt she's happy about the result. But given

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Speaker 2: the Liberals probably have about thirty well, they'll have about

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Speaker 2: thirty seats in the House of Reps out of one

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Speaker 2: hundred and fifty, her job's pretty tough.

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Speaker 1: Now.

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Speaker 2: The Libs will have, along with the House of Reps,

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Speaker 2: thirty twenty five senators. The Nationals will have fifteen MPs

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Speaker 2: and four senators. As a result, the junior coalition partner

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Speaker 2: will just be a little more senior this parliament, I

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Speaker 2: think is probably the best way of putting it. That

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Speaker 2: makes life more difficult for Lee who there are certain issues,

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Speaker 2: climate change being a great example where the two side

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Speaker 2: I mean Liberals and Coalition are not really in sync.

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Speaker 2: So that will make it tough. Lee herself has had

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Speaker 2: a mixed career in federal politics. She's the moderate. As

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Speaker 2: I mentioned before, she'll have a more conservative and more

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Speaker 2: powerful coalition partner. That'll be her challenge. Former Bush pilot

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Speaker 2: and roustabout who replaced former Nationals leader Tim Fisher in

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Speaker 2: the rural seat of Farah in two thousand and one,

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Speaker 2: best remembered for having to stand down as Health Minister

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Speaker 2: in twenty seventeen after using taxplayer funded travel to inspect

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Speaker 2: and purchase an investment property on the Gold Coast. Notwithstanding that,

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Speaker 2: good luck to Susan Lee.

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Speaker 1: Yeah, big job, tough job, Good luck to her now, Sean.

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Speaker 1: Yesterday morning we were talking about the ninety day pause

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Speaker 1: in tariffs between the US and China, and yesterday the

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Speaker 1: local share market surged as a result of it.

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Speaker 2: Yes, all share markets did. If we just jump back

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Speaker 2: thirty six hours. The US and China have agreed to

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Speaker 2: cut tariffs for ninety days, effective immediately. That means the

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Speaker 2: US is cutting existing tariffs from one hundred and forty

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Speaker 2: five to thirty percent. China said it will lower import

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Speaker 2: duties from one hundred and twenty five to ten percent.

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Speaker 2: That sparked a surge on Wall Street with a relief rally,

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Speaker 2: sending the broad based SMP up more than three percent,

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Speaker 2: of the SP five hundred more than three percent. The

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Speaker 2: S and P five hundred is now up seventeen percent

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Speaker 2: since it bottomed six weeks ago. It's flat for the year. Locally,

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Speaker 2: the SMPA six two hundred finished up about half a percent.

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Speaker 2: There was a bit less than that, nowhere near as

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Speaker 2: much as Wall Street. Energy docks jumped on the back

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Speaker 2: of a rise in the price of oil. Tech stocks

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Speaker 2: also did well, but it wasn't quite the joy on

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Speaker 2: our market yesterday that we saw on Wall Street the

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Speaker 2: night before last.

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Speaker 1: Sean, is this rally sustainable? Because I mean, what happens

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Speaker 1: after ninety days? Here's there an expectation that a full

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Speaker 1: and kind of final deal will actually be done by then.

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Speaker 2: So Wall Street seems to think so, but certainly there's

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Speaker 2: no certainty. Our traders yesterday were a little bit more

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Speaker 2: circumspect about it. As it stands, the US back down.

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Speaker 2: No one's arguing a bit well, sorry, Donald Trump's arguing that,

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Speaker 2: but they did back down fearing much higher prices. China

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Speaker 2: won this battle, but it is a tariff war, so

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Speaker 2: there's a long way to go. The bigger picture is

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Speaker 2: whether the two economies can come to a deal in

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Speaker 2: that three months that you're talking about.

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Speaker 1: About.

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Speaker 2: They both need to, you know, the life for their

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Speaker 2: consumers is better if they can do a deal. Having

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Speaker 2: said that, the White House is so erratic at the moment,

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Speaker 2: it's just hard to know where this is going to land.

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Speaker 2: The other issue for the US at the moment is

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Speaker 2: that it's all gone quite on the fiscal front. How

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Speaker 2: long since we've had a story about DOGE, the Department

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Speaker 2: of Government Efficiency that it's been on weeks now it

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Speaker 2: has now. Donald Trump wants to cut taxes. His plan

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Speaker 2: is to lift tariffs, increase revenue, and then reduce income taxes.

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Speaker 2: He even wants to spend a little bit more in

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Speaker 2: some areas. Problem is, if you're not putting the tariffs on.

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Speaker 2: You can cut income taxes, but you end up with

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Speaker 2: a blowout and the budget deficit, and that ain't good

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Speaker 2: for the world's largest economy. So I think we're going

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Speaker 2: to hear more and more about that in coming weeks.

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Speaker 1: Yeah. Indeed, Now, Sean, it must be mentioned you might

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Speaker 1: be in Dubbo this morning and Burke tomorrow morning, and

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Speaker 1: so I was cycling your way through kind of outback

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Speaker 1: New South Wales. But every day there will still be

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Speaker 1: the daily newsletter in your inbox by six am.

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Speaker 2: Yes, indeed there will if you want to get ahead

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Speaker 2: of your colleagues at work, if you think you should

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Speaker 2: be reading you know, the Finn Review and The Australian

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Speaker 2: and that. But you don't really want to read the

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Speaker 2: newsletter please Finn Review, the Australian don't see us for that. No,

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Speaker 2: if you write the detail, god to those sources. Absolutely,

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Speaker 2: But if you just want to know briefly what's going on,

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Speaker 2: give the news letter a read.

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Speaker 1: Absolutely, and you can sign up for free it is

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Speaker 1: it costs you nothing. Head along to Fear and Greed

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Speaker 1: dot com dot A. You pop your email addressing and

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Speaker 1: I'll put a link in today's show notes as well

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Speaker 1: for that one. Sean will take a very quick break

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Speaker 1: and we'll be back in a moment with the rest

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Speaker 1: of the day's business news. Sean consumer sentiment improved slightly

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Speaker 1: between April and May, as share markets recovered from Liberation

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Speaker 1: Day falls and the prospect of an interest rate cut improved.

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Speaker 2: However, the Westpac Melbourne Institute Index remains at ninety two.

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Speaker 2: It's been stuck below one hundred for more than three

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Speaker 2: consecutive years. That means there are more pessimists out there

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Speaker 2: than optimists. What a miserable bunch of people we are.

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Speaker 1: We certainly are, and we're not getting any happier, really,

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Speaker 1: are we?

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Speaker 2: No? I mean, sentiment trended up last year, so we

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Speaker 2: were getting happier last year, but it's pretty much stalled

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Speaker 2: since then. Now, there are some promising signs. Current family

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Speaker 2: finances increased seven percent, or the reading of that increased

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Speaker 2: seven percent month on month thanks to lower fuel costs,

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Speaker 2: share market recoveries, expectations for future economic outlook is better

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Speaker 2: as well. Customers purchasing intentions rose. In fact, over the

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Speaker 2: last year, it's about twenty two percent, So there are

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Speaker 2: some good signs, but we're still a bit miserable. Michael,

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Speaker 2: can I.

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Speaker 1: Ask you just very quickly sean on that when you

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Speaker 1: say current family finances, The reading on that is that

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Speaker 1: the sentiment about basically how households feel about their finances,

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Speaker 1: and they're feeling better because they're spending less on fuel

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Speaker 1: and share markets have recovered.

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Speaker 2: Yeah, that's exactly right.

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Speaker 1: There you go. What about business confidence? Any improvement in that.

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Speaker 2: Space marginal at best. The National Australia Bank Business Confidence

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Speaker 2: Survey for April shows a one point increase to a

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Speaker 2: slightly negative level of minus one, while business conditions as

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Speaker 2: opposed to sentiment conditions deteriorated to their lowest level since

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Speaker 2: August twenty twenty. That was driven by the clients in

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Speaker 2: profitability and forward orders. Business confidence is weakest in retail

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Speaker 2: and wholesale trade. That suggests that the sluggish consumer is

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Speaker 2: hurting the business sector.

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Speaker 1: I love a one point increase to a slightly negative

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Speaker 1: level of minus one. We're not exactly talking huge improvements here.

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Speaker 2: Are we We're not definitely not now.

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Speaker 1: Family tracking app the Business Life three six do. We've

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Speaker 1: talked a fair bit about this one. It's a really

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Speaker 1: interesting company. It says that it generated record revenue as

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Speaker 1: its number of describers jumped in the March quarter.

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Speaker 2: The ASX listed San Francisco based company's revenue raised by

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Speaker 2: about a third in that March quarter. That was better

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Speaker 2: than expectations. At Senate's share price up fourteen percent yesterday.

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Speaker 2: Chief executive Chris Holes said the results show that location

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Speaker 2: sharing and keeping tabs on family members had entered the mainstream,

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Speaker 2: which the four billion dollar company has long forecast. According

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Speaker 2: to a report in The Australian, there was something like

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Speaker 2: four point one million new monthly active users added to

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Speaker 2: the location sharing platform, which is pretty amazing. We've discussed

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Speaker 2: this because I used to like Life three sixty and

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Speaker 2: I'm not here to suggest it's a good, bad investment

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Speaker 2: or anything like that. But then I actually kept too

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Speaker 2: much track of my kids, so I stopped using it.

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Speaker 1: Too much information things didn't want to know, and.

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Speaker 2: Especially as they got older and by the time when

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Speaker 2: they're at school and stuff like that, it's a bit different.

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Speaker 2: Once I left school, I actually suggested to them just

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Speaker 2: take it off. I don't really need to know where

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Speaker 2: you are.

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Speaker 1: Yeah, once I a eighteen nineteen, you're like, you know

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Speaker 1: what I don't want to know? I know what I

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Speaker 1: know up to now. Now, Sean, you mentioned the shere

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Speaker 1: market rose earlier in the show This is high risk

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Speaker 1: asking you this, But was there much corporate news around?

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Speaker 2: Ah? So pleased you asked, you asked, I mean there

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Speaker 2: was a bit around because like the Brent oil pushed

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Speaker 2: above sixty four years dollars a barrel, so Woodside Santos

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Speaker 2: did well. Goal prices are down, goldstocks fell a bit

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Speaker 2: of news around though. M Pole rose after announcing the

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Speaker 2: sale of its retailer electricity business in New Zealand and

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Speaker 2: Meridian Energy and in Australia to AGL. Both Ridy and

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Speaker 2: AGL went lower, but Mpole was higher. The other wish

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Speaker 2: is sort of a smaller company, but it's a take

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Speaker 2: over going on between Apicas Storage King, so you know

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Speaker 2: the Storage King buildings you see around that, Yeah, cities.

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Speaker 2: It rose after it rejected a bid from another company,

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Speaker 2: Public Storage and Key Corporation. Now Public Storage and Key

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Speaker 2: Corporation is a big shareholder already wanted to acquire the

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Speaker 2: outstanding shares dollars forty dollar forty seven a share. An

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Speaker 2: independent committee said that's undervalued, and the theory there is

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Speaker 2: that investors think they'll have to come back and off

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Speaker 2: for more for Abicus Storage King, so its share price rose.

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Speaker 1: Australian investors SEAN are buying up Bitcoin as the cryptocurrency

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Speaker 1: reverses a tumble in the first three months of the year.

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Speaker 2: Since early April, bitcoins up thirty seven percent or so,

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Speaker 2: as in fact, it's up nearly forty percent as we

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Speaker 2: speak this morning, and analysts forecast it still has a

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Speaker 2: way to run now. The world's largest digital asset cross

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Speaker 2: the one hundred thousand US dollars a unit level last

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Speaker 2: week for the first time since February, trending higher the

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Speaker 2: record levels one hundred and nine thousand US dollars, which

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Speaker 2: was reached back in January this year. Ironically for a

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Speaker 2: risky asset, commentators believe the uncertainty round tariffs is helping

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Speaker 2: bitcoin because it's an option to other US to nominated

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Speaker 2: assets like bonds and stuff like that. Global investors in

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Speaker 2: bitcoin exchange traded funds added nearly three billion US dollars

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Speaker 2: last month. The previous two months, more than five billion

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Speaker 2: was pulled from the space. Locally, in Australia, ets have

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Speaker 2: attracted about one hundred and forty eight million dollars in

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Speaker 2: inflows so far this year, it's double compared to the

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Speaker 2: same period last year. So all those numbers just suggest

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Speaker 2: that bitcoin is back in the good books with investors.

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Speaker 1: Okay, turning to international news now, and US President Donald

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Speaker 1: Trump said he's open to joining talks between Russia and

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Speaker 1: Ukraine in Turkey this week, a suggestion that was quickly

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Speaker 1: welcomed by Kiev as the right idea.

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Speaker 2: International efforts to when the war have picked up over

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Speaker 2: the past seven days or so. Donald Trump will be

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Speaker 2: visiting the Gulf this week on an official trip to

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Speaker 2: Saudi Arabia, the United Arab Emirates, and Qatar. He said

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Speaker 2: he could make a detour to Turkey to take part

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Speaker 2: in plan talks between the two warring parties. According to

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Speaker 2: the Financial Times, I'll quote him, I don't know where

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Speaker 2: I'm going to be on Thursday. I've got so many meetings,

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Speaker 2: but I was thinking about actually flying over there. There

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Speaker 2: you go.

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Speaker 1: Indeed, finally, Sean Apple is planning to use artificial intelligence

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Speaker 1: technology to improve the battery life of its iPhones. This

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Speaker 1: feels like a really good use of AI.

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Speaker 2: It does. The company's planning to use AI powered battery

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Speaker 2: management mode for iOS nineteen and iPhone software update due

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Speaker 2: in September. According to Bloomberg, the enhancement will analyze how

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Speaker 2: a person uses their device and then make adjustments to

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Speaker 2: conserve energy. To create the technology part of the Apple

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Speaker 2: Intelligence Platform, the company's using battery data it's collected from

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Speaker 2: users devices to understand trends, make predictions for when it

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Speaker 2: should a lower lower the power draw of certain applications

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Speaker 2: or features. That will also be a lockscreen indicator showing

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Speaker 2: how long it will take to charge up the device.

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Speaker 2: What a good idea though, Actually use AI to work

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Speaker 2: out when people need to draw down and power and

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Speaker 2: when they don't.

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Speaker 1: Yeah, really clever, now, Sean. Coming up next is the

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Speaker 1: Fear and Greed Daily Interview. You've got to really interesting

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Speaker 1: conversation today. You're speaking with Jack Revolt and Kate Anderson

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Speaker 1: from Authentic Leaders Group.

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Speaker 2: Yes, Jack, of course are you famous AFL player of

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Speaker 2: Premiership winning AFL plan. They're talking about getting culture right,

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Speaker 2: So you've got to invest in your people. We understand

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Speaker 2: that that's sort of table stakes, but how you do

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Speaker 2: it and how you get it right is critical to success,

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Speaker 2: be that on a football field in business. And so

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Speaker 2: we talk to Jack and Kate about that, and they

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Speaker 2: come from very different perspectives. It's a really interesting chat.

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Speaker 1: Yeah, you've essentially got a an AFL star and Kate,

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Speaker 1: who is a psychologist who started her career working in prisons, Like,

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Speaker 1: they are really interesting people and they've got some slightly

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Speaker 1: unorthodox methods. It's a great conversation. They're good supporters of

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Speaker 1: Fear and Greed. It's worth a lesson coming up next

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Speaker 1: to the Fear and Greed playlist on your podcast platform

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Speaker 1: or at Fearangreed dot com dot au. Thank you Sean,

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Speaker 1: Thank you Michael. It is Wednesday, the fourteenth of May

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

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

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Speaker 1: I'm Michael Thompson and that was Fear and Greed. Have

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Speaker 1: a great day.