1 00:00:06,120 --> 00:00:09,079 Michael Thompson: Today on Fear and Greed. Prime Minister Anthony Albanese and 2 00:00:09,080 --> 00:00:11,840 Michael Thompson: Opposition leader Peter Dutton face off in the third debate, 3 00:00:11,880 --> 00:00:14,920 Michael Thompson: where they focused on the cost of living, international relations, 4 00:00:14,960 --> 00:00:19,680 Michael Thompson: and their individual attributes. Macquarie Group sells its public markets 5 00:00:19,760 --> 00:00:22,880 Michael Thompson: investments business in North America and Europe in a major 6 00:00:22,920 --> 00:00:27,680 Michael Thompson: strategy reversal, and the latest electric vehicle battery claims to 7 00:00:27,760 --> 00:00:31,000 Michael Thompson: provide five hundred and twenty kilometers of driving after just 8 00:00:31,200 --> 00:00:34,800 Michael Thompson: five minutes of charging. Plus Chinese e commerce group Shein 9 00:00:34,880 --> 00:00:38,120 Michael Thompson: rings up sales of one billion dollars in Australia, and 10 00:00:38,280 --> 00:00:40,800 Michael Thompson: US President Donald Trump takes on the Federal Reserve with 11 00:00:40,920 --> 00:00:44,400 Michael Thompson: damaging consequences for financial markets. Welcome to Fear and Greed. 12 00:00:44,520 --> 00:00:46,960 Michael Thompson: Daily business news for people who make their own decisions. 13 00:00:47,240 --> 00:00:51,160 Michael Thompson: It is Wednesday, the twenty third of April twenty twenty five. 14 00:00:51,840 --> 00:00:54,200 Michael Thompson: I'm Michael Thompson and good morning, Sean Aylmer. 15 00:00:54,760 --> 00:00:57,720 Sean Aylmer: Totally out of breath after that introduction, Michael, well done. 16 00:00:57,520 --> 00:01:00,440 Michael Thompson: Oh exhausted? That is it is a meaty s today. 17 00:01:00,560 --> 00:01:02,160 Michael Thompson: No one else is meet you today, Sean. 18 00:01:02,600 --> 00:01:03,000 Sean Aylmer: What's that? 19 00:01:03,560 --> 00:01:05,360 Michael Thompson: The Fear and Greed daily. 20 00:01:05,160 --> 00:01:10,360 Sean Aylmer: News liter meety every day. Actually, I don't know that 21 00:01:10,360 --> 00:01:13,399 Sean Aylmer: it's meaty. I just think it's a great way to 22 00:01:13,560 --> 00:01:16,039 Sean Aylmer: grab what you need to know before your head into 23 00:01:16,040 --> 00:01:19,440 Sean Aylmer: the office without getting stuck in the detail. 24 00:01:20,040 --> 00:01:24,240 Michael Thompson: It's a lean meat option, definitely the lean meat option. Yeah, indeed, 25 00:01:24,280 --> 00:01:26,520 Michael Thompson: and look it takes about three minutes to read. Head 26 00:01:26,520 --> 00:01:29,720 Michael Thompson: along to Fearangreed dot com dot au and sign up. 27 00:01:29,840 --> 00:01:31,800 Michael Thompson: It comes out every morning by six am. I'll put 28 00:01:31,800 --> 00:01:33,960 Michael Thompson: a link in today's show notes as well. We've had 29 00:01:33,959 --> 00:01:36,160 Michael Thompson: a tremendous number of people signing up over the last 30 00:01:36,200 --> 00:01:38,840 Michael Thompson: couple of weeks. Thank you for doing so, and if 31 00:01:38,840 --> 00:01:41,480 Michael Thompson: you haven't already done it, make today the day that 32 00:01:41,560 --> 00:01:44,560 Michael Thompson: you do. Sewan on with the show the main story 33 00:01:44,600 --> 00:01:48,280 Michael Thompson: this morning. Anthony Abanezi and Peter Dutton held the third 34 00:01:48,320 --> 00:01:51,720 Michael Thompson: debate of the election campaign last night, with neither really 35 00:01:52,040 --> 00:01:54,960 Michael Thompson: landing a knockout blow. But you've got to say the 36 00:01:55,000 --> 00:01:58,600 Michael Thompson: debate was the most vigorous of the three, with I 37 00:01:58,600 --> 00:02:02,480 Michael Thompson: would say a much improved performance by the opposition leader. 38 00:02:02,960 --> 00:02:05,760 Sean Aylmer: I think that's right. The debate was again focused on 39 00:02:05,800 --> 00:02:10,639 Sean Aylmer: the cost of living crisis, particularly around health and energy costs. 40 00:02:11,520 --> 00:02:15,120 Sean Aylmer: Peter Dunn kept talking about Anthony Alberesi being loose with 41 00:02:15,200 --> 00:02:17,120 Sean Aylmer: the truth and he got a few of those sorts 42 00:02:17,160 --> 00:02:21,040 Sean Aylmer: of lines in which worked really well. Anthony Alberzi kept 43 00:02:21,080 --> 00:02:24,079 Sean Aylmer: lining up Peter Dutton for what are the cuts after 44 00:02:24,400 --> 00:02:27,520 Sean Aylmer: or if he's elected, what cuts can Australians expect, And 45 00:02:27,560 --> 00:02:30,359 Sean Aylmer: they were kind of the two themes that rend through, 46 00:02:30,400 --> 00:02:32,280 Sean Aylmer: you know, loose with the truth on one side and 47 00:02:32,360 --> 00:02:35,399 Sean Aylmer: what cuts can you expect on the other. On nuclear 48 00:02:35,639 --> 00:02:39,920 Sean Aylmer: Peter Dunn did his best job by far of explaining 49 00:02:40,120 --> 00:02:43,959 Sean Aylmer: the policy. Anthony Alberanzi did a pretty good job of 50 00:02:43,960 --> 00:02:45,960 Sean Aylmer: shooting it down, though he didn't repeat some of the 51 00:02:46,000 --> 00:02:49,800 Sean Aylmer: costings that Labor has been claiming on that policy. On 52 00:02:49,880 --> 00:02:52,960 Sean Aylmer: international relations, plenty of discussions with our relationship with the 53 00:02:53,080 --> 00:02:56,280 Sean Aylmer: US and China. There's a little bit on law and order. 54 00:02:57,320 --> 00:02:59,320 Sean Aylmer: There was a bit on the economy, Michael, but it's 55 00:02:59,360 --> 00:03:03,880 Sean Aylmer: mostly about budgets spending revenue. Now. I suppose the cost 56 00:03:03,919 --> 00:03:07,720 Sean Aylmer: cutting does push through, but deficits and stuff like that, 57 00:03:07,760 --> 00:03:11,160 Sean Aylmer: I sometimes wonder whether people care that much about it. 58 00:03:11,480 --> 00:03:14,079 Michael Thompson: I did enjoy the fact that Phil Coory from the 59 00:03:14,200 --> 00:03:18,480 Michael Thompson: Financial Review was one of the expert questioners and did 60 00:03:19,120 --> 00:03:22,280 Michael Thompson: pull them up on some of the budget deficits. 61 00:03:22,560 --> 00:03:23,160 Sean Aylmer: Detail on it. 62 00:03:23,960 --> 00:03:26,120 Michael Thompson: At one point, it's kind of the first time that 63 00:03:26,120 --> 00:03:28,959 Michael Thompson: they've been really pulled up on that amount of detail. Yes, 64 00:03:29,160 --> 00:03:32,799 Michael Thompson: so it was particularly for a business podcast. Watching it, 65 00:03:32,840 --> 00:03:34,079 Michael Thompson: I'm like, yeah, I like that bit. 66 00:03:34,200 --> 00:03:37,640 Sean Aylmer: Yeah go. Phil definitely asked about the biggest line in 67 00:03:37,680 --> 00:03:41,640 Sean Aylmer: the campaigne nominated the way that the ALP is talking 68 00:03:41,640 --> 00:03:44,320 Sean Aylmer: about the cost of nuclear being six hundred billion dollars. 69 00:03:44,680 --> 00:03:46,520 Sean Aylmer: He actually said it's closer to one hundred and twenty 70 00:03:46,520 --> 00:03:48,720 Sean Aylmer: billion dollars. When and Alberonizi was asked about what he 71 00:03:48,720 --> 00:03:51,240 Sean Aylmer: thought the biggest line in the campaign was, well, he 72 00:03:51,240 --> 00:03:54,080 Sean Aylmer: didn't really answer. He started talking about healthcare. In fact, 73 00:03:54,160 --> 00:03:55,840 Sean Aylmer: I thought the Prime Minister has spent quite a bit 74 00:03:55,880 --> 00:03:58,520 Sean Aylmer: of time last night talking about stuff that wasn't in 75 00:03:58,520 --> 00:04:01,560 Sean Aylmer: the question, so it was us about There was a 76 00:04:01,640 --> 00:04:05,720 Sean Aylmer: viewer sending a question about rising insurance costs and Anthony 77 00:04:05,760 --> 00:04:10,720 Sean Aylmer: Alberezi took off about fee free tape. No connection there. 78 00:04:10,880 --> 00:04:14,120 Sean Aylmer: He was asked about the airbnbs and we've got a 79 00:04:14,200 --> 00:04:19,840 Sean Aylmer: lecture on immigration. Ah, what I thought was interesting, not 80 00:04:19,960 --> 00:04:22,840 Sean Aylmer: just last night, but generally there's a bunch of things 81 00:04:22,880 --> 00:04:27,120 Sean Aylmer: we haven't heard much about. The bush rural Australia. Now 82 00:04:27,200 --> 00:04:30,279 Sean Aylmer: the Coalition has put forward a twenty billion dollar policy, 83 00:04:30,360 --> 00:04:32,440 Sean Aylmer: but there's no mention of that last night. It hasn't 84 00:04:32,440 --> 00:04:35,760 Sean Aylmer: been part of the campaign. Small Business Now didn't mention 85 00:04:35,880 --> 00:04:39,040 Sean Aylmer: them last night. But again not something that we've spoken 86 00:04:39,120 --> 00:04:42,640 Sean Aylmer: much about it during this campaign. Education, well a bit 87 00:04:42,680 --> 00:04:45,799 Sean Aylmer: around Tafe last night. Again not a major focus. Haven't 88 00:04:45,839 --> 00:04:49,120 Sean Aylmer: heard a huge amount about the environment, given the issue 89 00:04:49,120 --> 00:04:53,280 Sean Aylmer: that it is pensioners. We just haven't heard much about 90 00:04:53,320 --> 00:04:54,280 Sean Aylmer: older Australians. 91 00:04:54,560 --> 00:04:56,680 Michael Thompson: No, and that was at the very least it was 92 00:04:57,160 --> 00:05:01,400 Michael Thompson: called out by deb Knight from nine last on that 93 00:05:01,600 --> 00:05:03,640 Michael Thompson: who made that exact point that there really hasn't been 94 00:05:03,720 --> 00:05:08,080 Michael Thompson: much mention of the fact that, I mean younger Australian 95 00:05:08,120 --> 00:05:11,919 Michael Thompson: voters now outnumber the number of older Australian voters and 96 00:05:12,320 --> 00:05:15,640 Michael Thompson: is that why we haven't really heard much about pensioners 97 00:05:15,640 --> 00:05:18,080 Michael Thompson: and older Australians in this election campaign. And really that 98 00:05:18,160 --> 00:05:19,880 Michael Thompson: was the only time it came up. You're right, and 99 00:05:19,880 --> 00:05:21,679 Michael Thompson: they just kind of moved on to other things. 100 00:05:22,040 --> 00:05:26,920 Sean Aylmer: Yeah, I think the other things that they're asked. Well, 101 00:05:27,040 --> 00:05:30,040 Sean Aylmer: Peter Dutt was asked whether he was too stony and 102 00:05:30,080 --> 00:05:31,840 Sean Aylmer: he gave a really good response. He said, well, he's 103 00:05:31,880 --> 00:05:34,720 Sean Aylmer: serious in his public life and as a police officer 104 00:05:34,760 --> 00:05:36,520 Sean Aylmer: had to be serious. As a politician, he had to 105 00:05:36,560 --> 00:05:39,560 Sean Aylmer: be serious and that's because he deals with serious matters. 106 00:05:40,839 --> 00:05:43,440 Sean Aylmer: Anthony Albaneze, he was asked whether he was too wishy washy. 107 00:05:44,040 --> 00:05:47,920 Sean Aylmer: He said, kindness isn't a weakness, that was his response, 108 00:05:48,200 --> 00:05:50,599 Sean Aylmer: and he said he's capable making tough decisions. He said, 109 00:05:50,600 --> 00:05:53,120 Sean Aylmer: you don't get to be Prime Minister and leader of 110 00:05:53,120 --> 00:05:57,320 Sean Aylmer: the ALP without being tough. You also get the sense, 111 00:05:57,320 --> 00:05:59,599 Sean Aylmer: I mean, they went at each other last night, definitely, 112 00:06:00,120 --> 00:06:01,919 Sean Aylmer: but you also get the sense that they don't mind 113 00:06:01,960 --> 00:06:04,080 Sean Aylmer: each other. This is this great question at the end 114 00:06:04,120 --> 00:06:06,039 Sean Aylmer: of it, and they said, say something nice about each other, 115 00:06:06,600 --> 00:06:09,920 Sean Aylmer: and like now other of them really hesitated. They could 116 00:06:09,960 --> 00:06:12,520 Sean Aylmer: find things pretty quickly what they liked about each other. 117 00:06:13,880 --> 00:06:15,640 Sean Aylmer: Nine kept pushing the point that they wanted more than 118 00:06:15,680 --> 00:06:17,720 Sean Aylmer: talking points. We did get more than talking points, but 119 00:06:17,760 --> 00:06:19,360 Sean Aylmer: you know, at the end of the day mostly was 120 00:06:19,400 --> 00:06:22,680 Sean Aylmer: about talking points. I reckon, I'm going to ask you 121 00:06:22,680 --> 00:06:25,880 Sean Aylmer: this question, who won, because that's what we all want 122 00:06:25,920 --> 00:06:29,200 Sean Aylmer: to know. I reckon. If Anthony Albanezi won the first two, 123 00:06:30,240 --> 00:06:34,680 Sean Aylmer: Peter Dutton at least drew or even better last night, 124 00:06:35,240 --> 00:06:38,000 Sean Aylmer: And part of that is because I think he underperformed 125 00:06:38,040 --> 00:06:40,400 Sean Aylmer: in the first two, so I would actually give him 126 00:06:40,400 --> 00:06:41,280 Sean Aylmer: a win last night. 127 00:06:42,120 --> 00:06:45,440 Michael Thompson: He was, apart from a minor kind of slip up 128 00:06:45,480 --> 00:06:48,040 Michael Thompson: early on where he got a bit aggressive. I think 129 00:06:49,040 --> 00:06:53,520 Michael Thompson: this was by far his most polished performance and also 130 00:06:53,600 --> 00:06:58,120 Michael Thompson: quite relatable though as well. So yes, I think that 131 00:06:58,480 --> 00:07:05,760 Michael Thompson: it was his best and probably just in front about 132 00:07:05,800 --> 00:07:07,720 Michael Thompson: that for a certain decision there, Sean. 133 00:07:07,880 --> 00:07:11,160 Sean Aylmer: Actually that's a the Channel nine team two of them 134 00:07:11,240 --> 00:07:15,440 Sean Aylmer: gave it to alban easy just and one of it 135 00:07:15,480 --> 00:07:20,520 Sean Aylmer: came it to Dutton, so clearly there was no knockout 136 00:07:20,520 --> 00:07:21,040 Sean Aylmer: winner there. 137 00:07:21,840 --> 00:07:25,840 Michael Thompson: Yeah, it's a look, there's going to be another debate. 138 00:07:25,920 --> 00:07:30,160 Michael Thompson: There are four debates in total. May save me, maybe 139 00:07:30,200 --> 00:07:32,480 Michael Thompson: that is too many. I did feel like last night 140 00:07:32,640 --> 00:07:35,520 Michael Thompson: was the debate that we needed to see where it 141 00:07:35,560 --> 00:07:38,000 Michael Thompson: was kind of really getting down to it. What else 142 00:07:38,040 --> 00:07:40,160 Michael Thompson: happened on the campaign trail yesterday, Sean. 143 00:07:40,280 --> 00:07:42,840 Sean Aylmer: Well, Plans were altered for most of yesterday following the 144 00:07:42,880 --> 00:07:45,880 Sean Aylmer: death of Ppe Francis, with Opposition leader Peter Dutton attending 145 00:07:45,880 --> 00:07:48,040 Sean Aylmer: at mass at Saint Mary's Cathedral in Sydney to pay 146 00:07:48,080 --> 00:07:51,880 Sean Aylmer: his respects. Anthony Alberizi, who was a Catholic, attended mass 147 00:07:52,160 --> 00:07:55,600 Sean Aylmer: at Saint Patrick's Cathedral in Melbourne. He said that Governor 148 00:07:55,600 --> 00:07:58,280 Sean Aylmer: General Sam Mosson is currently traveling to Turkey frans Ac 149 00:07:58,360 --> 00:08:02,760 Sean Aylmer: Day and it's appropriate that she attend the Ponte's funeral. 150 00:08:03,480 --> 00:08:06,080 Sean Aylmer: Campaign he picked up in the afternoon, although both leaders 151 00:08:06,080 --> 00:08:09,119 Sean Aylmer: were preparing for last night's debate. The major announcement yesterday 152 00:08:09,200 --> 00:08:13,880 Sean Aylmer: was Finance Minister Katie Gallaher announcing Labour's policy for women, 153 00:08:13,960 --> 00:08:17,920 Sean Aylmer: which focuses on safety. Of course, Pete polling opened yesterday. 154 00:08:17,960 --> 00:08:19,720 Sean Aylmer: There's a spot just a block from my place. I 155 00:08:19,720 --> 00:08:22,600 Sean Aylmer: was getting one morning coffee walking partner putting out all 156 00:08:22,640 --> 00:08:27,440 Sean Aylmer: the signs. And there's another news poll in The Australian yesterday. 157 00:08:27,800 --> 00:08:30,520 Sean Aylmer: It basically showed that women voters are deserting the coalition, 158 00:08:31,200 --> 00:08:33,760 Sean Aylmer: Labor making gains in every mainland state, so they are 159 00:08:33,760 --> 00:08:35,240 Sean Aylmer: certainly favorites at this point. 160 00:08:35,840 --> 00:08:38,319 Michael Thompson: It'll be interesting to see if the debate last night 161 00:08:38,360 --> 00:08:42,320 Michael Thompson: has any effect on the polls moving ahead. Sean, after 162 00:08:42,360 --> 00:08:44,080 Michael Thompson: the show, We've still got plenty more to come. But 163 00:08:44,240 --> 00:08:46,840 Michael Thompson: after the show you have an interview coming up today 164 00:08:47,040 --> 00:08:48,960 Michael Thompson: with Tom Kenny from am Z. 165 00:08:49,640 --> 00:08:51,839 Sean Aylmer: So we thought we'd have a big picture look at 166 00:08:51,920 --> 00:08:56,520 Sean Aylmer: the really big Western economies how they're performing on the 167 00:08:56,559 --> 00:08:59,319 Sean Aylmer: back of the tariff debate and what it means for Australia. 168 00:08:59,360 --> 00:09:02,120 Sean Aylmer: So the Big West economy, so that's not China, but 169 00:09:02,320 --> 00:09:05,240 Sean Aylmer: US obviously, Europe and Japan. And Tom's a bit of 170 00:09:05,280 --> 00:09:08,040 Sean Aylmer: an expert in those three on those three economies, and 171 00:09:08,120 --> 00:09:10,240 Sean Aylmer: so we chat to them about how they're going, the 172 00:09:10,280 --> 00:09:12,559 Sean Aylmer: prognosis for them and what it means for Australia. 173 00:09:12,760 --> 00:09:15,000 Michael Thompson: Yeah, it's a good conversation. It's coming up after the show. 174 00:09:15,120 --> 00:09:16,800 Michael Thompson: Sean will be back in a moment with the rest 175 00:09:16,840 --> 00:09:27,360 Michael Thompson: of the day's business news. Sean mcquarie is selling out 176 00:09:27,400 --> 00:09:31,280 Michael Thompson: of its entire North American and European public asset management business, 177 00:09:31,360 --> 00:09:34,720 Michael Thompson: a business that oversees two hundred and eighty five billion 178 00:09:34,760 --> 00:09:36,920 Michael Thompson: dollars in assets. This is a big deal. 179 00:09:37,000 --> 00:09:39,240 Sean Aylmer: It's reversal of a strategy that's been in place for 180 00:09:39,280 --> 00:09:43,559 Sean Aylmer: about fifteen years and mcquarie will offload its international equities, 181 00:09:43,679 --> 00:09:48,080 Sean Aylmer: fixed income and multi asset investments business to Japan's Nomura 182 00:09:48,120 --> 00:09:50,880 Sean Aylmer: for two point eight billion dollars. The division is known 183 00:09:51,480 --> 00:09:55,119 Sean Aylmer: as McQuary Asset Management. It will continue to operate in Australia, 184 00:09:55,280 --> 00:09:57,760 Sean Aylmer: it just won't be doing those investments overseas or atleas 185 00:09:57,800 --> 00:10:02,520 Sean Aylmer: in the North American markets. Public market investments have changed 186 00:10:02,559 --> 00:10:05,720 Sean Aylmer: over the past fifteen years and now dominated by very large, 187 00:10:05,800 --> 00:10:09,800 Sean Aylmer: low fee funds such as Blackrock Vanguard that type. They 188 00:10:09,880 --> 00:10:14,800 Sean Aylmer: tend to invest passively rather than stockpicking now active fund management, 189 00:10:15,040 --> 00:10:19,160 Sean Aylmer: where you're picking stocks in public markets in North America 190 00:10:19,200 --> 00:10:22,079 Sean Aylmer: at least and Europe at least, just they're not providing 191 00:10:22,120 --> 00:10:26,400 Sean Aylmer: the returns that mcquarie wants. Private market investing as opposed 192 00:10:26,440 --> 00:10:30,200 Sean Aylmer: to public private market investing has become much more lucrative 193 00:10:30,240 --> 00:10:33,360 Sean Aylmer: to funds management, and pulling out of public markets gives 194 00:10:33,440 --> 00:10:37,120 Sean Aylmer: McQuary more firepower in that private market sector. So we're 195 00:10:37,120 --> 00:10:40,280 Sean Aylmer: talking about infrastructure and real estate and some of those 196 00:10:40,280 --> 00:10:43,640 Sean Aylmer: sorts of activities private credits. Another one. Mcquarie' share price 197 00:10:43,720 --> 00:10:46,319 Sean Aylmer: rose half percent on the news yesterday tho wo It's 198 00:10:46,360 --> 00:10:49,960 Sean Aylmer: down about twenty five percent from its peak in late January. 199 00:10:49,600 --> 00:10:51,840 Michael Thompson: So it's a big deal. Was it a surprise or 200 00:10:51,880 --> 00:10:54,400 Michael Thompson: has it kind of been heading in this direction for 201 00:10:54,440 --> 00:10:54,960 Michael Thompson: a little while. 202 00:10:55,040 --> 00:10:58,840 Sean Aylmer: So McQuary has been trying to simplify its business somewhat, 203 00:10:58,880 --> 00:11:01,320 Sean Aylmer: and we talked about selling of its energy assets a 204 00:11:01,320 --> 00:11:04,240 Sean Aylmer: couple of months ago, So it's probably all part of that, though. 205 00:11:04,240 --> 00:11:06,280 Sean Aylmer: I think it is a surprise that they're getting out 206 00:11:06,400 --> 00:11:10,000 Sean Aylmer: of the public markets in such a big way in 207 00:11:10,040 --> 00:11:11,439 Sean Aylmer: the Northern hemisphere. 208 00:11:10,920 --> 00:11:14,320 Michael Thompson: All right, now, this is interesting. Unions will challenge the 209 00:11:14,440 --> 00:11:18,480 Michael Thompson: Workplace umpires landmark gender payer decision over concerns that it 210 00:11:18,559 --> 00:11:22,640 Michael Thompson: perversely cuts social workers pay by hundreds of dollars a week. 211 00:11:22,800 --> 00:11:25,720 Sean Aylmer: The Australian Services Union warned that last week's Fair Work 212 00:11:25,760 --> 00:11:29,280 Sean Aylmer: Commission decision to address the gender undervaluation of tens of 213 00:11:29,320 --> 00:11:34,880 Sean Aylmer: thousands of community and disability support workers would inadvertently send 214 00:11:35,320 --> 00:11:39,280 Sean Aylmer: their members as the Australian Services Union members pay backwards 215 00:11:39,679 --> 00:11:42,360 Sean Aylmer: by up to twenty percent. The concern arises from the 216 00:11:42,400 --> 00:11:47,520 Sean Aylmer: Commission's proposed new award classification structure, which the union claims 217 00:11:47,640 --> 00:11:51,880 Sean Aylmer: fails to recognize specific workers experience or skills and will 218 00:11:51,880 --> 00:11:54,480 Sean Aylmer: result in pay cuts up to one hundred and fifteen sorry, 219 00:11:54,480 --> 00:11:56,760 Sean Aylmer: I'll say that again. Paycuts up to three hundred and 220 00:11:56,800 --> 00:11:59,319 Sean Aylmer: fifteen dollars a week. Michael. That's according to report in 221 00:11:59,360 --> 00:12:02,360 Sean Aylmer: the fin Review the Commissions at rulings, which also proposed 222 00:12:02,440 --> 00:12:05,000 Sean Aylmer: pay rises of up to thirty two percent for child 223 00:12:05,000 --> 00:12:07,559 Sean Aylmer: care workers and health professionals, was in response to the 224 00:12:07,600 --> 00:12:10,760 Sean Aylmer: Albanezi Government's new gender equity objective for the Fair Work Act. 225 00:12:11,679 --> 00:12:16,240 Michael Thompson: Chinese e commerce group Sheen has recorded annual sales of 226 00:12:16,280 --> 00:12:18,839 Michael Thompson: more than a billion dollars in Australia for the first time. 227 00:12:19,080 --> 00:12:22,280 Michael Thompson: Has A rise in popularity of what is really ultra 228 00:12:22,480 --> 00:12:25,640 Michael Thompson: cheap clothing turns the Chinese fast fashioned giant into one 229 00:12:25,640 --> 00:12:27,120 Michael Thompson: of the country's biggest retailers. 230 00:12:27,160 --> 00:12:31,400 Sean Aylmer: The emergence of Shine and its biggest global competitor, t MO. 231 00:12:31,880 --> 00:12:33,199 Michael Thompson: Did you just say Shine? 232 00:12:33,679 --> 00:12:34,520 Sean Aylmer: Yeah? Is she is? 233 00:12:35,000 --> 00:12:37,720 Michael Thompson: No, It's she and She And the funny thing is 234 00:12:37,800 --> 00:12:40,600 Michael Thompson: that this is one of those companies, right that it's 235 00:12:40,679 --> 00:12:42,599 Michael Thompson: kind of like Nike, though I don't know whether the 236 00:12:42,679 --> 00:12:46,000 Michael Thompson: Nike would like being compared to Sheen. It's one of 237 00:12:46,000 --> 00:12:48,840 Michael Thompson: those companies that actually had to come out and publicly 238 00:12:48,880 --> 00:12:50,480 Michael Thompson: tell people how to pronounce itself. 239 00:12:50,559 --> 00:12:51,920 Sean Aylmer: It's not Nike, it's Nike. 240 00:12:52,120 --> 00:12:54,560 Michael Thompson: Yeah, indeed, and they did that. And Nike did that 241 00:12:54,600 --> 00:12:57,680 Michael Thompson: through a letter one day. Shean did it in a 242 00:12:57,760 --> 00:12:59,640 Michael Thompson: very modern way on Twitter. 243 00:13:00,080 --> 00:13:00,400 Sean Aylmer: Is that right? 244 00:13:00,480 --> 00:13:00,680 Michael Thompson: Yes? 245 00:13:00,760 --> 00:13:00,920 Sean Aylmer: Yeah? 246 00:13:00,960 --> 00:13:03,880 Michael Thompson: And I actually said, hey, everyone, it's she and not 247 00:13:04,080 --> 00:13:07,360 Michael Thompson: Sheen or Shine or Shane Shean. 248 00:13:07,480 --> 00:13:09,120 Sean Aylmer: There you go, Well, Shan and team who have hurt 249 00:13:09,160 --> 00:13:13,880 Sean Aylmer: local retailers think Maya through to online marketplaces like Catch, 250 00:13:13,880 --> 00:13:17,600 Sean Aylmer: which is actually closing down. She and Tiamu, and they're 251 00:13:17,640 --> 00:13:21,480 Sean Aylmer: more established arrival Amazon sell everything from toys and clothes 252 00:13:21,559 --> 00:13:25,600 Sean Aylmer: to smartphones and electronics. Sheen began selling in Australia in 253 00:13:25,640 --> 00:13:29,480 Sean Aylmer: twenty twenty two. Newly filed accounts show sales rose to 254 00:13:29,559 --> 00:13:32,480 Sean Aylmer: one point two three billion dollars in the twelve months 255 00:13:32,559 --> 00:13:34,800 Sean Aylmer: to the end of last year. According to the finn 256 00:13:35,200 --> 00:13:39,120 Sean Aylmer: profits rose from eleven million to fifteen million, so not 257 00:13:39,200 --> 00:13:42,480 Sean Aylmer: highly profitable, but big numbers in terms of revenue. One 258 00:13:42,480 --> 00:13:44,560 Sean Aylmer: point two to three billion dollars in sales compared to 259 00:13:44,600 --> 00:13:48,400 Sean Aylmer: around revenues of seven hundred millions for Levisa for example, 260 00:13:48,600 --> 00:13:51,320 Sean Aylmer: that's one of the largest fast fashioned jewelry businesses in 261 00:13:51,320 --> 00:13:54,520 Sean Aylmer: the country. One point six billion for Accent Group. So 262 00:13:54,600 --> 00:13:58,040 Sean Aylmer: it's got more than nine hundred stores across the Hype, Platypus, 263 00:13:58,040 --> 00:14:02,040 Sean Aylmer: Hokker and stall Runner brands. It just shows how much 264 00:14:02,160 --> 00:14:05,280 Sean Aylmer: Shean has infiltrated the local market purely online. 265 00:14:05,360 --> 00:14:08,320 Michael Thompson: Yeah, it certainly has local markets. How did they go yesterday? 266 00:14:08,480 --> 00:14:10,720 Sean Aylmer: And Pax two hundred closed to flat it fill at 267 00:14:10,720 --> 00:14:12,559 Sean Aylmer: the opening following the lead in from Wall Street then 268 00:14:12,600 --> 00:14:14,599 Sean Aylmer: climbed back to where it started. Kom Off Bank was 269 00:14:14,600 --> 00:14:16,120 Sean Aylmer: really the story of the day. The biggest stock on 270 00:14:16,160 --> 00:14:19,800 Sean Aylmer: the ASEX closed up four percent, saved the index from falling. 271 00:14:19,880 --> 00:14:23,400 Sean Aylmer: The tech and energy indices were among the worst performers. 272 00:14:23,960 --> 00:14:27,760 Sean Aylmer: I suppose of worth Worthy of Note, Uranium Minor Palette 273 00:14:27,760 --> 00:14:30,200 Sean Aylmer: and Energy it fell twelve percent. The price of uranium 274 00:14:30,200 --> 00:14:32,760 Sean Aylmer: has been falling. That's not helping those stocks. By Now 275 00:14:33,040 --> 00:14:35,480 Sean Aylmer: pay Later group Zipko was off nine percent. 276 00:14:36,080 --> 00:14:39,720 Michael Thompson: In other corporate news, Bellevue Gold fell another six percent, 277 00:14:39,920 --> 00:14:43,000 Michael Thompson: even though it said it had closed out hedge contracts 278 00:14:43,000 --> 00:14:45,760 Michael Thompson: that were agreed at prices well beyond the current price 279 00:14:45,800 --> 00:14:46,200 Michael Thompson: of gold. 280 00:14:46,280 --> 00:14:50,480 Sean Aylmer: So basically the group locked in prices for selling gold 281 00:14:51,120 --> 00:14:54,760 Sean Aylmer: just as the price of gold sword, and so it 282 00:14:54,800 --> 00:14:58,240 Sean Aylmer: got caught out and it said that it's now beyond that. 283 00:14:58,280 --> 00:14:59,840 Sean Aylmer: But its share price is down thirty percent of the 284 00:14:59,880 --> 00:15:01,720 Sean Aylmer: line last month. If you think of what's happened to 285 00:15:01,720 --> 00:15:03,680 Sean Aylmer: the price of gold and what's happening to the price 286 00:15:03,720 --> 00:15:07,120 Sean Aylmer: of the share prices of gold stocks, thirty percent ain't 287 00:15:07,160 --> 00:15:10,160 Sean Aylmer: good for Bellvu Gold. Uranium Minor Deep Yellow fell eight 288 00:15:10,200 --> 00:15:13,600 Sean Aylmer: percent after delaying work on its flagship Namibian Mine, owing 289 00:15:13,680 --> 00:15:15,160 Sean Aylmer: to lower uranium prices. 290 00:15:15,200 --> 00:15:19,120 Michael Thompson: It is one of the great names, isn't it? Deep yellow? Yeah, spectacular, 291 00:15:19,360 --> 00:15:21,760 Michael Thompson: fantastically named company self. 292 00:15:21,480 --> 00:15:24,760 Sean Aylmer: Wealth another well named company, Yeah, set to d list 293 00:15:24,960 --> 00:15:27,480 Sean Aylmer: after shareholders agreed to a sixty five million dollar take 294 00:15:27,480 --> 00:15:31,320 Sean Aylmer: over bid from a Singaporean group. I Luka Resources and 295 00:15:31,480 --> 00:15:34,840 Sean Aylmer: Asex listed rare X. Rare Rex is a good name. 296 00:15:35,120 --> 00:15:37,040 Sean Aylmer: What do they do? Well, They've just done a deal 297 00:15:37,040 --> 00:15:39,600 Sean Aylmer: to acquire and develop a rare earth project in Kenya. 298 00:15:39,720 --> 00:15:41,320 Michael Thompson: There you go. If the hint was in the name, 299 00:15:41,600 --> 00:15:47,360 Michael Thompson: and yeah, coal is it. 300 00:15:47,360 --> 00:15:50,560 Sean Aylmer: Its share price fell after its warned of uncertain outlook 301 00:15:50,640 --> 00:15:53,520 Sean Aylmer: for coal miners due to global trade tensions. 302 00:15:54,560 --> 00:16:01,000 Michael Thompson: Turning to international news, now sean Chinese battery manufacturer CATL. 303 00:16:01,080 --> 00:16:02,800 Michael Thompson: This is one of those. Another one of those ones. 304 00:16:02,800 --> 00:16:05,400 Michael Thompson: But it's been a lot about company names today. I'm 305 00:16:05,440 --> 00:16:07,120 Michael Thompson: assuming it's COTL and. 306 00:16:07,120 --> 00:16:10,560 Sean Aylmer: Not cattle, so it's an acronym, and I can't remember 307 00:16:10,640 --> 00:16:13,400 Sean Aylmer: quite what the acronyms. Quite a complex, but let's call 308 00:16:13,440 --> 00:16:17,120 Sean Aylmer: it cattle for today or COTLTL. 309 00:16:18,240 --> 00:16:22,160 Michael Thompson: It's unveiled upgraded battery cells that it claims can offer 310 00:16:22,560 --> 00:16:26,800 Michael Thompson: a five hundred and twenty kilometer range from just five 311 00:16:26,880 --> 00:16:28,280 Michael Thompson: minutes of charging time. 312 00:16:28,280 --> 00:16:31,960 Sean Aylmer: So that's faster than BYD, which last month said it 313 00:16:32,000 --> 00:16:35,400 Sean Aylmer: can do about four hundred and seventy kilometers in five minutes. 314 00:16:35,960 --> 00:16:38,200 Sean Aylmer: Both claims are a long way ahead of Tesla or 315 00:16:38,200 --> 00:16:41,480 Sean Aylmer: another manufacturers out of Europe now Cattle, I've done it. 316 00:16:41,600 --> 00:16:45,440 Sean Aylmer: COTL also said it's made technological advances that will allow 317 00:16:45,520 --> 00:16:49,120 Sean Aylmer: to produce batteries that are cheaper, lighter, faster to recharge, 318 00:16:49,400 --> 00:16:52,920 Sean Aylmer: and more resistant to cold, while providing greater driving range. 319 00:16:52,960 --> 00:16:55,520 Sean Aylmer: According to The New York Times, most of the changes, 320 00:16:55,600 --> 00:16:57,720 Sean Aylmer: which are a couple of years away from being widely 321 00:16:57,760 --> 00:17:01,080 Sean Aylmer: available in new cars, could make LIPS cars more competitive 322 00:17:01,080 --> 00:17:06,200 Sean Aylmer: in price and performance with their petrol powered opponents. Now 323 00:17:06,359 --> 00:17:08,520 Sean Aylmer: c at Or produces a third of the world's electric 324 00:17:08,560 --> 00:17:11,320 Sean Aylmer: car batteries and supply sixteen of the world's biggest car makers, 325 00:17:11,320 --> 00:17:15,640 Sean Aylmer: including General Matters and in some Tesla's too. Its main 326 00:17:15,760 --> 00:17:19,480 Sean Aylmer: rival for the global market, DYD, it makes about one 327 00:17:19,600 --> 00:17:23,760 Sean Aylmer: sixth of the world's ev batteries. It actually tends to 328 00:17:23,800 --> 00:17:28,080 Sean Aylmer: sell to South Korean and Japanese battery manufacturers. Interesting point here, though, 329 00:17:28,160 --> 00:17:29,080 Sean Aylmer: like we're getting there. 330 00:17:29,760 --> 00:17:35,040 Michael Thompson: We are definitely contemporary. Am Perax Technology Co. 331 00:17:35,400 --> 00:17:36,399 Sean Aylmer: Thank you very much. 332 00:17:36,680 --> 00:17:42,200 Michael Thompson: Cl Limited Limited that's where the l comes in. Probably 333 00:17:42,280 --> 00:17:44,000 Michael Thompson: didn't really need to add that. I think the story 334 00:17:44,080 --> 00:17:47,760 Michael Thompson: was strong enough on its own. The battle between Donald 335 00:17:47,760 --> 00:17:51,120 Michael Thompson: Trump and US financial markets has escalated after the US 336 00:17:51,200 --> 00:17:55,640 Michael Thompson: President called the boss of the Federal Reserve a loser. 337 00:17:56,760 --> 00:17:59,560 Sean Aylmer: Certain people on the bureaucracy in the US are held 338 00:17:59,560 --> 00:18:04,679 Sean Aylmer: in the absolute highest esteem. One of those is Jay Powell. 339 00:18:05,119 --> 00:18:08,040 Sean Aylmer: The fact, I reckon I was thinking about this, remember 340 00:18:08,080 --> 00:18:15,119 Sean Aylmer: in Trump's first tenure in COVID hit ye Anthony Fouci. 341 00:18:15,680 --> 00:18:17,080 Michael Thompson: Yes, yes, he was. 342 00:18:17,000 --> 00:18:20,640 Sean Aylmer: Kind of considered absolutely top of the tree in terms 343 00:18:20,720 --> 00:18:25,160 Sean Aylmer: of bureaucrats, and Trump just went him. Well, he's now 344 00:18:25,200 --> 00:18:30,320 Sean Aylmer: gone Jay Powell. In a tweet which follows recent comments 345 00:18:30,320 --> 00:18:33,159 Sean Aylmer: from Powell saying rates in the US may have to 346 00:18:33,160 --> 00:18:35,720 Sean Aylmer: stay on hold for a little while because of the 347 00:18:35,800 --> 00:18:39,320 Sean Aylmer: uncertainty around the tariff situation, Trump claimed that there is 348 00:18:39,480 --> 00:18:42,359 Sean Aylmer: almost no inflation and warned that there could be a 349 00:18:42,680 --> 00:18:47,879 Sean Aylmer: quote slowing of the economy unless mister too late, a 350 00:18:48,000 --> 00:18:53,680 Sean Aylmer: major loser, lower's interest rates now and slowing and now 351 00:18:53,880 --> 00:18:57,639 Sean Aylmer: all in caps. Where do you go with that? 352 00:18:59,280 --> 00:19:03,160 Michael Thompson: Mister? Mister catching nickname, isn't it? 353 00:19:03,680 --> 00:19:05,720 Sean Aylmer: Yes? The tweet pushed the S and P five hundred, 354 00:19:05,800 --> 00:19:08,320 Sean Aylmer: down by as much as three percent. Ironically, it pushed 355 00:19:08,320 --> 00:19:13,000 Sean Aylmer: bond yields, which predict future interest rates higher. There you go. 356 00:19:13,520 --> 00:19:16,280 Sean Aylmer: The bigger problem is that Trump's attacks really are undermining 357 00:19:16,320 --> 00:19:18,320 Sean Aylmer: the view that the US is a safe haven country 358 00:19:18,800 --> 00:19:21,440 Sean Aylmer: well managed by independent central bankers. 359 00:19:22,000 --> 00:19:24,600 Michael Thompson: He certainly knows how to push limits when it comes 360 00:19:24,600 --> 00:19:28,560 Michael Thompson: to markets, doesn't the president? How did investors react well? 361 00:19:28,600 --> 00:19:31,639 Sean Aylmer: Outside the SMP five hundred, the US dollar fell, The 362 00:19:31,720 --> 00:19:33,879 Sean Aylmer: Aussie is currently fetching nearly sixty four and a half 363 00:19:33,960 --> 00:19:36,760 Sean Aylmer: yway cents. In fact, the greenback against a basket of 364 00:19:36,760 --> 00:19:38,920 Sean Aylmer: currencies is trading a three year low at the moment. 365 00:19:39,280 --> 00:19:42,800 Sean Aylmer: The price of gold pushed beyond three four hundred and 366 00:19:42,800 --> 00:19:46,000 Sean Aylmer: fifty US dollars for the first time. Oil was also 367 00:19:46,080 --> 00:19:47,959 Sean Aylmer: actually all it was a bit higher, though analysts are 368 00:19:48,000 --> 00:19:50,840 Sean Aylmer: forecasting a drop in Brent in coming weeks. 369 00:19:51,240 --> 00:19:55,520 Michael Thompson: Russian President Vladimir Putin has proposed bilateral talks with Ukraine 370 00:19:55,640 --> 00:19:57,840 Michael Thompson: for the first time since the early days of the war, 371 00:19:58,080 --> 00:20:03,560 Michael Thompson: and his Ukrainian counterpart, Vladimir Zelenski, says that keV is 372 00:20:03,800 --> 00:20:07,040 Michael Thompson: eager to discuss a halt to attacks on civilian targets. 373 00:20:07,080 --> 00:20:10,880 Sean Aylmer: Now, Zelenski didn't directly respond to Putin's proposal, but though 374 00:20:10,920 --> 00:20:14,200 Sean Aylmer: he did emphasize in his nightly video address that Ukraine 375 00:20:14,240 --> 00:20:17,840 Sean Aylmer: is ready for any conversation about a ceasefire that would 376 00:20:17,840 --> 00:20:21,200 Sean Aylmer: stop strikes on civilians. According to Reuters, the two leaders 377 00:20:21,200 --> 00:20:23,520 Sean Aylmer: face pressure from the US, which is threatened to walk 378 00:20:23,520 --> 00:20:26,760 Sean Aylmer: away from its peace efforts unless some progress is achieved. 379 00:20:27,000 --> 00:20:29,480 Sean Aylmer: Russia and Ukraine has said they're open to further ceasefires 380 00:20:29,600 --> 00:20:32,919 Sean Aylmer: after a thirty hour easter truce declared by Moscow at 381 00:20:32,920 --> 00:20:35,399 Sean Aylmer: the weekend. Mind you, each side accuse the other of 382 00:20:35,520 --> 00:20:37,000 Sean Aylmer: violating that. Okay. 383 00:20:37,160 --> 00:20:39,359 Michael Thompson: Up next is the Fear and Greed Daily Interview with 384 00:20:39,400 --> 00:20:42,359 Michael Thompson: Tom Kenny from A and Z and at Midday Today 385 00:20:42,359 --> 00:20:45,600 Michael Thompson: Sean the politics and. 386 00:20:45,520 --> 00:20:49,360 Sean Aylmer: Stuffy aptly named Politics and Stuff. We take a look 387 00:20:49,359 --> 00:20:53,280 Sean Aylmer: at last night's debate and poll's. Really they're the two 388 00:20:53,320 --> 00:20:56,720 Sean Aylmer: things and just sort of summarize where things are at 389 00:20:57,119 --> 00:20:59,919 Sean Aylmer: just almost ten days to ago. People need to be 390 00:21:00,040 --> 00:21:00,879 Sean Aylmer: making up their minds. 391 00:21:00,960 --> 00:21:03,000 Michael Thompson: It's the penultimate episode, isn't it. 392 00:21:03,000 --> 00:21:06,480 Sean Aylmer: It is the penultimate episode of Politics and Stuff. 393 00:21:06,520 --> 00:21:09,840 Michael Thompson: It shall be sorely missed. That is coming up the 394 00:21:09,880 --> 00:21:11,720 Michael Thompson: Fear and Greed player list on your podcast platform or 395 00:21:11,760 --> 00:21:13,760 Michael Thompson: at Fearangreed dot com Today You, which is also sign 396 00:21:13,840 --> 00:21:16,240 Michael Thompson: up for the free daily newsletter, Thank you, Sean, Thank 397 00:21:16,280 --> 00:21:18,800 Michael Thompson: you Michael. It is Wednesday, the twenty third of April 398 00:21:18,840 --> 00:21:21,560 Michael Thompson: twenty twenty five. Make sure you're following the podcast and 399 00:21:21,600 --> 00:21:25,400 Michael Thompson: please join us online on LinkedIn, Instagram, x TikTok and Facebook. 400 00:21:25,440 --> 00:21:27,639 Michael Thompson: OM Michael Thompson. And that was Fear and Greed. Have 401 00:21:27,680 --> 00:21:28,240 Michael Thompson: a great day.