1 00:00:06,360 --> 00:00:09,959 Speaker 1: The number of new jobs in the economy surges, Telstra 2 00:00:10,119 --> 00:00:13,119 Speaker 1: announces a big drop in earnings, and the federal government 3 00:00:13,200 --> 00:00:17,200 Speaker 1: will guarantee holders of flights on Rex Airlines. Welcome to 4 00:00:17,239 --> 00:00:19,480 Speaker 1: Fear and Greed. Daily business news for people who make 5 00:00:19,520 --> 00:00:22,800 Speaker 1: their own decisions. It's Friday, the sixteenth of August twenty 6 00:00:22,840 --> 00:00:26,040 Speaker 1: twenty four. I'm Michael Thompson and good morning, Sean Aylmer. 7 00:00:26,320 --> 00:00:28,120 Speaker 2: Good morning, Michael Shawn. 8 00:00:28,160 --> 00:00:30,280 Speaker 1: The main story this morning. The number of new jobs 9 00:00:30,320 --> 00:00:33,880 Speaker 1: in the economy soared by fifty eight thousand last month, 10 00:00:34,320 --> 00:00:36,720 Speaker 1: but it wasn't enough to prevent the unemployment rate from 11 00:00:36,800 --> 00:00:38,519 Speaker 1: rising to four point two percent. 12 00:00:38,960 --> 00:00:42,720 Speaker 2: Australian Bureau Statistics labor force figures had something for everyone, 13 00:00:42,920 --> 00:00:46,199 Speaker 2: many more jobs than expected and a higher unemployment rate 14 00:00:46,280 --> 00:00:49,400 Speaker 2: reflecting a record number of people looking for a job 15 00:00:49,520 --> 00:00:52,519 Speaker 2: last month. The increase in unemployment from four point one 16 00:00:52,520 --> 00:00:55,280 Speaker 2: percent to four point two percent pushes the rate to 17 00:00:55,320 --> 00:00:59,080 Speaker 2: its highest level since November twenty twenty one. An influx 18 00:00:59,120 --> 00:01:01,360 Speaker 2: of migrant workers helped to push the share of the 19 00:01:01,400 --> 00:01:04,399 Speaker 2: working age population with a job or looking for one 20 00:01:04,680 --> 00:01:07,600 Speaker 2: to a record high of sixty seven point one percent, 21 00:01:07,720 --> 00:01:10,000 Speaker 2: and close to half of the people who have found 22 00:01:10,040 --> 00:01:13,360 Speaker 2: work over the past year were employed in publicly funded 23 00:01:13,400 --> 00:01:17,720 Speaker 2: industries like health, education, government administration. The employment growth figures 24 00:01:17,720 --> 00:01:20,240 Speaker 2: were better than expected, and the overall data suits the 25 00:01:20,319 --> 00:01:24,200 Speaker 2: narrative that the jobs market is cooling, but only slowly, 26 00:01:24,480 --> 00:01:26,759 Speaker 2: and your employment growth is three point two percent over 27 00:01:26,800 --> 00:01:28,440 Speaker 2: the past year, which is pretty strong. 28 00:01:29,640 --> 00:01:32,679 Speaker 1: Sean, what is it? You know? You know, I'm just 29 00:01:32,680 --> 00:01:34,640 Speaker 1: going to try and boil this down. What it means 30 00:01:34,680 --> 00:01:36,600 Speaker 1: for me? What does it mean for interest rates? 31 00:01:37,160 --> 00:01:39,320 Speaker 2: Well, the numbers were a bit tricky to read because 32 00:01:39,319 --> 00:01:42,199 Speaker 2: employment gains have at least thirty nine thousand I needed 33 00:01:42,200 --> 00:01:45,360 Speaker 2: each month to stop the unemployment rate rising based on 34 00:01:45,400 --> 00:01:48,320 Speaker 2: current levels of immigration. But then we get yesterday's figures. 35 00:01:48,520 --> 00:01:51,440 Speaker 2: It blasts through that thirty nine thousand level, yet unemployment 36 00:01:51,480 --> 00:01:55,920 Speaker 2: still rises. IMP Deputy Chief Economist dianamous Sina said the 37 00:01:56,000 --> 00:01:59,000 Speaker 2: dynamic is that there is a big supply of workers 38 00:01:59,000 --> 00:02:02,000 Speaker 2: coming into the layborfore and they are finding work or 39 00:02:02,040 --> 00:02:04,920 Speaker 2: confident that they will find work so are entering the 40 00:02:05,000 --> 00:02:07,440 Speaker 2: jobs market. So the labor market is still strong enough 41 00:02:07,480 --> 00:02:11,360 Speaker 2: to absorb more workers looking for jobs. Therefore, it's not 42 00:02:11,400 --> 00:02:14,359 Speaker 2: really a red flag and assigned that the Reserve Bank 43 00:02:14,400 --> 00:02:18,000 Speaker 2: needs to cut interest rates any time soon, Having said 44 00:02:18,040 --> 00:02:21,160 Speaker 2: that leading indicators of the labor market like job vacancies, 45 00:02:21,280 --> 00:02:24,480 Speaker 2: job advertisements, and hiring intentions are still pointing to a 46 00:02:24,520 --> 00:02:28,040 Speaker 2: further slow down in the labor market. While financial markets 47 00:02:28,040 --> 00:02:30,320 Speaker 2: have priced in a better than fifty percent chance of 48 00:02:30,320 --> 00:02:33,800 Speaker 2: a rate cut this year, the consensus among economists after 49 00:02:33,919 --> 00:02:37,080 Speaker 2: yesterday's numbers is that there won't be any movement at 50 00:02:37,080 --> 00:02:40,200 Speaker 2: the Central Bank until at least early twenty twenty five. 51 00:02:40,880 --> 00:02:43,440 Speaker 1: All right, let's have a look at local markets. How 52 00:02:43,440 --> 00:02:45,040 Speaker 1: do they perform? Yesterday? 53 00:02:45,120 --> 00:02:47,880 Speaker 2: S and PASX two hundred closed up zero point two 54 00:02:47,960 --> 00:02:50,640 Speaker 2: percent to seven eight hundred and sixty six points. Among 55 00:02:50,680 --> 00:02:53,160 Speaker 2: the large caps they weren't reporting. At least, the big 56 00:02:53,200 --> 00:02:55,720 Speaker 2: miners were lower on the back of weekne iron Ore prices, 57 00:02:56,080 --> 00:02:59,480 Speaker 2: Aria and Santos also underperformed. Westpac and A and Zed 58 00:02:59,520 --> 00:03:02,200 Speaker 2: led the big banks higher, while West Farmers was another 59 00:03:02,240 --> 00:03:06,120 Speaker 2: strong performer. Investment group Magellan's share price surged eight percent 60 00:03:06,280 --> 00:03:08,800 Speaker 2: after it increased its profit and said it had taken 61 00:03:08,800 --> 00:03:12,360 Speaker 2: a stake in funder manager Vinva Mining contractor in IRW 62 00:03:12,560 --> 00:03:16,200 Speaker 2: Holding share price jump nine percent after it said profit 63 00:03:16,280 --> 00:03:19,360 Speaker 2: was up nineteen percent last financial year. It also lifted 64 00:03:19,360 --> 00:03:23,520 Speaker 2: its dividend shares. An agribusiness New Farm tumbled ten percent 65 00:03:23,919 --> 00:03:27,320 Speaker 2: after downgrading its earnings outlook due to reduced confidence that 66 00:03:27,360 --> 00:03:30,359 Speaker 2: the industry environment will improve for the remainder of the year. 67 00:03:30,880 --> 00:03:33,960 Speaker 2: And West Australian lithium producer Pilbra Minerals has made a 68 00:03:34,000 --> 00:03:36,800 Speaker 2: five hundred and sixty million dollar play at a group 69 00:03:36,840 --> 00:03:40,600 Speaker 2: called Latin Resources and its projects in South America. Pilbra's 70 00:03:40,600 --> 00:03:42,960 Speaker 2: share price fell five percent on the news. 71 00:03:43,520 --> 00:03:46,440 Speaker 1: Okay, taking a look at international markets now thanks to 72 00:03:46,440 --> 00:03:50,560 Speaker 1: blue Chip Communication, the experts helping financial services companies market, 73 00:03:50,680 --> 00:03:54,920 Speaker 1: communicate and grow. Visit blue Chipcommunications, dot com, dot AU 74 00:03:55,040 --> 00:03:57,200 Speaker 1: and sean. What's happening with iron ore prices? 75 00:03:57,720 --> 00:04:00,000 Speaker 2: Well, they've dropped to a twenty one month LOWIS figures 76 00:04:00,120 --> 00:04:03,400 Speaker 2: show that China's steel production in July fell nine percent 77 00:04:03,560 --> 00:04:07,520 Speaker 2: month on month. Iron or futures in Singapore hit a 78 00:04:07,600 --> 00:04:11,320 Speaker 2: loyer of ninety three dollars seventy US a ton. It 79 00:04:11,400 --> 00:04:14,800 Speaker 2: comes after the chairman of Baou Steel Group worn that 80 00:04:14,880 --> 00:04:19,080 Speaker 2: China's steel industry faces a crisis worse than the downturns 81 00:04:19,080 --> 00:04:22,119 Speaker 2: of two thousand and eight and twenty fifteen. Now, Baio 82 00:04:22,120 --> 00:04:25,240 Speaker 2: Wu is the world's biggest steel makeup. It actually is 83 00:04:25,240 --> 00:04:27,279 Speaker 2: set much better in the rest of the Chinese economy. 84 00:04:27,279 --> 00:04:30,440 Speaker 2: Figures released yesterday's show that sluggish confidence is weighing on 85 00:04:30,480 --> 00:04:34,880 Speaker 2: consumption and investment, putting the government's annual growth target at risk. 86 00:04:35,200 --> 00:04:39,040 Speaker 2: Bad news for Australia. In contrast, there was good news 87 00:04:39,040 --> 00:04:42,360 Speaker 2: out of Japan yesterday. That's the world's third largest economy 88 00:04:42,680 --> 00:04:45,880 Speaker 2: and another important trading partner of Australia, our second largest 89 00:04:45,880 --> 00:04:49,680 Speaker 2: trading partner behind China. Japan's economy rebounded to growth in 90 00:04:49,720 --> 00:04:52,160 Speaker 2: the second quarter on the back of an increase in 91 00:04:52,240 --> 00:04:56,559 Speaker 2: private consumption. Gross domestic product expanded at an annualized pace 92 00:04:56,600 --> 00:04:59,039 Speaker 2: of three point one percent in the three months to 93 00:04:59,080 --> 00:05:01,600 Speaker 2: the end of June. That's a pretty good result. 94 00:05:02,520 --> 00:05:04,920 Speaker 1: Yeah, not too bad And Sean, we have a lot 95 00:05:04,960 --> 00:05:07,080 Speaker 1: to get through. But I just need to mention very 96 00:05:07,200 --> 00:05:10,320 Speaker 1: very quickly how excited we are that our Meya mugs 97 00:05:10,800 --> 00:05:16,239 Speaker 1: have finally arrived. These are our most enthusiastic advocate mugs. 98 00:05:16,240 --> 00:05:19,240 Speaker 1: The Meya Mug it is the award that we hand 99 00:05:19,240 --> 00:05:23,680 Speaker 1: out to listeners who are advocating, who are telling other people, friends, family, 100 00:05:24,560 --> 00:05:28,080 Speaker 1: colleagues about fear and Greed. We've been promising them for 101 00:05:28,520 --> 00:05:29,960 Speaker 1: at least a year, isn't. 102 00:05:29,720 --> 00:05:32,720 Speaker 2: It, Well, at least I'd say longer, at. 103 00:05:32,720 --> 00:05:35,039 Speaker 1: Least at least a year, and we've actually kind of 104 00:05:35,080 --> 00:05:37,080 Speaker 1: committed to sending them out to a bunch of people 105 00:05:37,080 --> 00:05:39,160 Speaker 1: in the past, and so it's gradually kind of working 106 00:05:39,160 --> 00:05:42,240 Speaker 1: our way through the backlog at the moment, but we 107 00:05:42,279 --> 00:05:44,400 Speaker 1: are giving them away to listeners who are the most 108 00:05:44,520 --> 00:05:47,800 Speaker 1: enthusiastic advocates of Fear and Greed. So if you've been 109 00:05:47,839 --> 00:05:50,400 Speaker 1: telling everyone about Fear and Greed, then let us know, 110 00:05:50,680 --> 00:05:54,120 Speaker 1: post about us about the podcast on LinkedIn or on 111 00:05:54,160 --> 00:05:56,760 Speaker 1: Instagram or Facebook and tag us we are on the 112 00:05:56,800 --> 00:05:59,560 Speaker 1: lookout for me is. We've got a very big shipment 113 00:05:59,560 --> 00:06:02,400 Speaker 1: of me ugs. We've got to offload them. It is 114 00:06:02,440 --> 00:06:05,919 Speaker 1: a fantastic prize because these are very much just limited edition. 115 00:06:06,120 --> 00:06:07,920 Speaker 1: I would say priceless. 116 00:06:08,560 --> 00:06:11,520 Speaker 2: In some places. They might be priceless in a very 117 00:06:11,640 --> 00:06:15,160 Speaker 2: rare collectible mug. Perhaps. Having said that, you did say 118 00:06:15,160 --> 00:06:16,640 Speaker 2: we just got a big hipment of the men, so 119 00:06:16,680 --> 00:06:19,440 Speaker 2: that sort of takes away a little bit, but I'd 120 00:06:19,440 --> 00:06:20,960 Speaker 2: say priceless. 121 00:06:20,640 --> 00:06:24,000 Speaker 1: Yeah, priceless and exclusive. Sean. Anyway, they are out me 122 00:06:24,120 --> 00:06:26,159 Speaker 1: and mugs, so please get in touch now. We'll be 123 00:06:26,200 --> 00:06:28,119 Speaker 1: back in a moment with the rest of the day's 124 00:06:28,160 --> 00:06:39,640 Speaker 1: business news Shawn. The company with the most Australian shareholders, Telstra, 125 00:06:39,960 --> 00:06:42,640 Speaker 1: yesterday announced a thirteen percent drop in its net profit 126 00:06:42,720 --> 00:06:46,080 Speaker 1: to one point seventy nine billion dollars after writing down 127 00:06:46,240 --> 00:06:49,480 Speaker 1: hundreds of millions of dollars in its troubled enterprise business. 128 00:06:49,640 --> 00:06:52,240 Speaker 2: It also revealed two hundred and forty seven million dollars 129 00:06:52,240 --> 00:06:55,960 Speaker 2: in costs associated with cutting twenty eight hundred jobs. However, 130 00:06:56,080 --> 00:07:00,000 Speaker 2: the good news from the result was Telstra's booming mobile business, 131 00:07:00,040 --> 00:07:02,680 Speaker 2: where last year the telco boosted earnings by nine percent 132 00:07:03,040 --> 00:07:05,800 Speaker 2: on the back of a whopping five hundred and sixty 133 00:07:05,880 --> 00:07:10,360 Speaker 2: thousand new mobile customers. The good news for shareholders, though 134 00:07:10,400 --> 00:07:13,560 Speaker 2: not necessarily for those customers, is that the growth came 135 00:07:13,600 --> 00:07:16,720 Speaker 2: ahead of Telstra upping the prices on most of its 136 00:07:16,720 --> 00:07:19,920 Speaker 2: mobile phone plans in the next few months. The enterprise 137 00:07:20,040 --> 00:07:24,040 Speaker 2: business provides services to government and large businesses. Its value 138 00:07:24,160 --> 00:07:26,640 Speaker 2: was written down by three hundred and eleven million dollars. 139 00:07:26,880 --> 00:07:31,480 Speaker 2: It's the real source spot within telstrom earnings in fixed enterprise, 140 00:07:31,480 --> 00:07:34,720 Speaker 2: which includes sales of telephone handsets and other equipment as 141 00:07:34,760 --> 00:07:38,400 Speaker 2: well as consulting services also tumbled. The company also said 142 00:07:38,440 --> 00:07:42,160 Speaker 2: it was shelving plans to shift into energy retailing. Telstra 143 00:07:42,240 --> 00:07:44,760 Speaker 2: said it will pay a final dividend of nine cents, 144 00:07:44,920 --> 00:07:47,880 Speaker 2: taking total dividends for the year to eighteen cents to share. 145 00:07:48,280 --> 00:07:51,000 Speaker 2: Its share price jump two point six percent yesterday, meaning 146 00:07:51,080 --> 00:07:53,640 Speaker 2: it's about flat for twenty twenty four. 147 00:07:54,600 --> 00:07:58,280 Speaker 1: A strong global demand for warehouse space and data centers 148 00:07:58,280 --> 00:08:01,720 Speaker 1: close to cities has helped industrial property giant Goodman deliver 149 00:08:01,800 --> 00:08:04,320 Speaker 1: an operating profit of just over two billion dollars for 150 00:08:04,320 --> 00:08:07,120 Speaker 1: the last financial year. That's up fifteen percent. 151 00:08:08,200 --> 00:08:11,200 Speaker 2: The good news was a result which was above expectations. 152 00:08:11,400 --> 00:08:14,600 Speaker 2: The less good news was that guidance for future earnings 153 00:08:14,640 --> 00:08:19,240 Speaker 2: disappointed somewhat, and Goodman's share price closed down nearly one percent. 154 00:08:20,000 --> 00:08:23,240 Speaker 2: Australia's learning property group is pushing hard into data centers, 155 00:08:23,240 --> 00:08:26,600 Speaker 2: which now account for about forty percent of its thirteen 156 00:08:26,680 --> 00:08:31,000 Speaker 2: billion dollar global project pipeline. Of all the major companies, 157 00:08:31,080 --> 00:08:34,320 Speaker 2: Goodman Group is the one benefiting most from the AI 158 00:08:34,600 --> 00:08:38,320 Speaker 2: and cloud computing boom. C Greg Goodman, who started the 159 00:08:38,320 --> 00:08:41,280 Speaker 2: business a little over thirty years ago after buying one 160 00:08:41,360 --> 00:08:45,120 Speaker 2: industrial site in Southern Sydney, so the opportunities for the 161 00:08:45,120 --> 00:08:47,520 Speaker 2: group were coming from the growth of e commerce, cloud 162 00:08:47,559 --> 00:08:51,920 Speaker 2: computing and adoption of new technologies including AI and machine learning. 163 00:08:52,200 --> 00:08:54,280 Speaker 2: The bottom line was a loss of just under one 164 00:08:54,360 --> 00:08:58,199 Speaker 2: hundred million dollars after Goodman revalued his property portfolio down 165 00:08:58,280 --> 00:09:02,160 Speaker 2: by five point one billion dollars, but the ongoing business 166 00:09:02,200 --> 00:09:06,240 Speaker 2: is strong, with portfolio occupancy at ninety seven point seven percent. 167 00:09:07,160 --> 00:09:08,520 Speaker 1: Now I mentioned this next one at the top of 168 00:09:08,520 --> 00:09:12,040 Speaker 1: the show. The Federal government will guarantee regional flight bookings 169 00:09:12,040 --> 00:09:15,920 Speaker 1: for REX customers throughout the airline's voluntary administration process. 170 00:09:16,120 --> 00:09:19,760 Speaker 2: REX collapsed into administration last month after management in fighting 171 00:09:19,800 --> 00:09:23,000 Speaker 2: and concerns from major lenders that its strategy to increasingly 172 00:09:23,040 --> 00:09:26,720 Speaker 2: compete against Quantus and Virgin Australia on capital city services 173 00:09:27,000 --> 00:09:30,719 Speaker 2: was faltering. Yesterday, Transport Minister Catherine King said customers could 174 00:09:30,760 --> 00:09:33,640 Speaker 2: book on Rex and have certainty. However, the government will 175 00:09:33,679 --> 00:09:37,240 Speaker 2: not take an equity position in the airline and once 176 00:09:37,280 --> 00:09:41,240 Speaker 2: a market based solution, saying in Canbramichael. Laws were introduced 177 00:09:41,240 --> 00:09:44,480 Speaker 2: to Parliament yesterday to cap the indexation for the Higher 178 00:09:44,640 --> 00:09:48,760 Speaker 2: Education Loan Program HELP. It was a budget announcement and 179 00:09:48,760 --> 00:09:51,320 Speaker 2: it will save students thousands of dollars off their Hex debts. 180 00:09:51,360 --> 00:09:53,560 Speaker 2: In fact, students for a debt of forty five thousand 181 00:09:53,600 --> 00:09:56,720 Speaker 2: dollars will see a reduction of about two thousand dollars, 182 00:09:56,960 --> 00:09:59,920 Speaker 2: while students with sixty thousand dollars owing will have their 183 00:10:00,080 --> 00:10:02,520 Speaker 2: debts lowered by about twenty seven hundred dollars. 184 00:10:03,080 --> 00:10:06,760 Speaker 1: Sean Penfold's owner, Treasury Wine Estates, yesterday announced a sharp 185 00:10:06,880 --> 00:10:09,520 Speaker 1: fall in earnings after writing off the value of some 186 00:10:09,600 --> 00:10:13,120 Speaker 1: of its cheaper wines, but increase its final dividend sure did. 187 00:10:13,160 --> 00:10:15,880 Speaker 2: Treasury had already announced the decision to offloat a bunch 188 00:10:15,960 --> 00:10:18,880 Speaker 2: of brands, including wolf Glass at Yellow Glenn and Linderman's, 189 00:10:18,880 --> 00:10:21,440 Speaker 2: to concentrate on the higher end of wine making. The 190 00:10:21,480 --> 00:10:24,920 Speaker 2: group will combine its Treasury Premium Brands business with its 191 00:10:24,920 --> 00:10:29,360 Speaker 2: Treasury America's Premium Brands portfolio next year, creating a division 192 00:10:29,400 --> 00:10:33,680 Speaker 2: including nine en Crimes, Mature Squealing, Pig Winds, and pepper Jack. 193 00:10:33,960 --> 00:10:37,079 Speaker 2: Penfolds will remain as a separate division. About seventy five 194 00:10:37,120 --> 00:10:39,800 Speaker 2: percent of the company's overall profit comes from the Penfolds 195 00:10:39,800 --> 00:10:42,800 Speaker 2: business and the luxury wine portfolio. In the United States. 196 00:10:42,840 --> 00:10:44,840 Speaker 2: The bottom line was a sixty one percent drop in 197 00:10:44,880 --> 00:10:47,360 Speaker 2: profit to nine to nine million dollars thanks to that 198 00:10:47,480 --> 00:10:49,960 Speaker 2: three hundred and eight million dollar impairment we mentioned at 199 00:10:49,960 --> 00:10:52,960 Speaker 2: the top of this story. Treasury share price ended one 200 00:10:52,960 --> 00:10:54,560 Speaker 2: point four percent high yesterday. 201 00:10:55,120 --> 00:10:57,120 Speaker 1: Very good time to mention the interview that's coming up 202 00:10:57,160 --> 00:11:01,080 Speaker 1: after the show, a chat with Treasury Win State CEO 203 00:11:01,200 --> 00:11:03,040 Speaker 1: Tim Ford about yesterday's results. 204 00:11:03,440 --> 00:11:05,040 Speaker 2: Yeah, that's right. We're working with a team and all 205 00:11:05,080 --> 00:11:07,320 Speaker 2: the bis to bring you interviews with the leaders of 206 00:11:07,360 --> 00:11:10,760 Speaker 2: some of Australia's biggest companies. Yesterday Andrew Gagan spoke to 207 00:11:10,920 --> 00:11:13,719 Speaker 2: Tim Ford about Treasury selling its cheaper wines and it's 208 00:11:13,720 --> 00:11:16,760 Speaker 2: push into North America. It's a great chat between Tim 209 00:11:16,880 --> 00:11:17,600 Speaker 2: and Andrew. 210 00:11:18,400 --> 00:11:20,679 Speaker 1: Indeed, and you can sign up at Osby's dot com 211 00:11:20,720 --> 00:11:23,640 Speaker 1: dot au to access Australia's leading provider of live and 212 00:11:23,679 --> 00:11:27,479 Speaker 1: on demand video the latest news in Australian business markets, 213 00:11:27,520 --> 00:11:30,280 Speaker 1: economy and startups, and they do have some cracking interviews 214 00:11:30,320 --> 00:11:33,480 Speaker 1: like this one now. Origin Energy is share price tumbled 215 00:11:33,679 --> 00:11:37,560 Speaker 1: nine point four percent yesterday despite a thirty percent jump 216 00:11:37,600 --> 00:11:40,160 Speaker 1: in profit. After the result and the outlook for the 217 00:11:40,200 --> 00:11:42,840 Speaker 1: twenty twenty five financial year, it was weaker than expected. 218 00:11:43,240 --> 00:11:47,000 Speaker 2: Chief executive Frank Collabria flag that profits in energy markets, 219 00:11:47,040 --> 00:11:50,840 Speaker 2: which includes generation, retailing and trading, would slide in the 220 00:11:50,880 --> 00:11:54,120 Speaker 2: coming year, echoing a similar warning from a Gal Energy 221 00:11:54,160 --> 00:11:57,320 Speaker 2: on Wednesday. Origins profit for the twenty twenty four financial 222 00:11:57,400 --> 00:11:59,760 Speaker 2: year jumped thirty two percent to one point four billion 223 00:11:59,800 --> 00:12:01,880 Speaker 2: dollar on the back of much higher earnings in the 224 00:12:02,000 --> 00:12:05,640 Speaker 2: energy generation and retailing businesses. The stock closed at nine 225 00:12:05,679 --> 00:12:08,760 Speaker 2: dollars sixty, which is still above the nine point thirty 226 00:12:08,840 --> 00:12:12,240 Speaker 2: nine offered by Brookfield and EIG in a twenty billion 227 00:12:12,280 --> 00:12:14,480 Speaker 2: dollar takeover bid rejected late last year. 228 00:12:15,120 --> 00:12:18,680 Speaker 1: Hearing implant group Cochlear posted a nineteen percent jump in 229 00:12:18,720 --> 00:12:20,880 Speaker 1: profits for the last financial year, but the result was 230 00:12:20,920 --> 00:12:24,080 Speaker 1: considered a miss sean and at share price tumbled seven percent. 231 00:12:24,679 --> 00:12:28,160 Speaker 2: The groups that had expected Cochlear implant trading conditions to 232 00:12:28,200 --> 00:12:31,840 Speaker 2: remain strong with improved AT growth rates in developed countries. 233 00:12:32,240 --> 00:12:36,200 Speaker 2: Chief executive Dig Howitt told The Australian that digital savvy 234 00:12:36,320 --> 00:12:39,520 Speaker 2: seniors and an expanding body of research and the benefits 235 00:12:39,559 --> 00:12:44,520 Speaker 2: of hearing to cognition underpin Cochlear's long term growth trajectory. 236 00:12:44,600 --> 00:12:48,240 Speaker 2: He said hearing loss is undertreated and there's enormous potential 237 00:12:48,320 --> 00:12:51,439 Speaker 2: for the implants to change people's lives through better hearing, 238 00:12:51,480 --> 00:12:54,800 Speaker 2: particularly for adults and seniors. His strategy is basically to 239 00:12:54,960 --> 00:12:58,240 Speaker 2: raise awareness and have people referred, make sure the health 240 00:12:58,280 --> 00:13:02,360 Speaker 2: systems have capacity and funding to meet demand. And he 241 00:13:02,440 --> 00:13:06,920 Speaker 2: just believes that by natural growth or organic growth, Kochlia 242 00:13:07,080 --> 00:13:10,960 Speaker 2: can succeed with more people taking advantage of their implants. 243 00:13:12,120 --> 00:13:16,280 Speaker 1: Now turning to international news, Ukraine has launched what it 244 00:13:16,360 --> 00:13:20,400 Speaker 1: described as the war's largest drone attack on Russian airfields 245 00:13:20,760 --> 00:13:24,560 Speaker 1: as Kiv's forces are facing increased resistance. Nine days into 246 00:13:24,600 --> 00:13:26,280 Speaker 1: their incursion into Russia. 247 00:13:26,320 --> 00:13:29,360 Speaker 2: Russia's Defense ministry said Kiev had fired one hundred and 248 00:13:29,400 --> 00:13:32,520 Speaker 2: seventeen drones as well as missiles in the Kersk region, 249 00:13:32,640 --> 00:13:36,360 Speaker 2: where Ukrainian troops had seized territory, and other areas of 250 00:13:36,440 --> 00:13:39,360 Speaker 2: southern Russia. According to report in The Financial Times, it 251 00:13:39,440 --> 00:13:43,520 Speaker 2: wasn't immediately clear whether any Russian aircraft were damaged or destroyed, 252 00:13:43,840 --> 00:13:46,520 Speaker 2: and the official said Kiev was waiting for satellite photos 253 00:13:46,520 --> 00:13:49,760 Speaker 2: to assess the destruction. Meanwhile, the rate at which Ukraine 254 00:13:49,760 --> 00:13:52,800 Speaker 2: is seizing territory in the Kursk region appears to have slowed. 255 00:13:52,840 --> 00:13:55,240 Speaker 2: One of the Ukraine's top generals earlier in the week 256 00:13:55,280 --> 00:13:58,240 Speaker 2: said Ukrainian forces were holding one thousand square kilometers of 257 00:13:58,280 --> 00:14:01,400 Speaker 2: Russian territory. Twenty four hour later, he said that occupied 258 00:14:01,440 --> 00:14:04,680 Speaker 2: just a further forty square kilometers, which suggests that pace 259 00:14:04,960 --> 00:14:08,959 Speaker 2: of incursion has slowed down. It's interesting this battle because 260 00:14:09,040 --> 00:14:11,960 Speaker 2: we it's fallen off the front pages definitely, But in 261 00:14:12,040 --> 00:14:14,880 Speaker 2: more recent weeks there's been some real success for Ukraine 262 00:14:15,280 --> 00:14:19,280 Speaker 2: in Russian territory, not just pushing Russia out of Ukrainian territory, 263 00:14:19,280 --> 00:14:20,840 Speaker 2: but actually within Russia itself. 264 00:14:22,040 --> 00:14:25,080 Speaker 1: Finally, sean a bit of a change of pace for 265 00:14:25,160 --> 00:14:28,360 Speaker 1: the final story here. The English Premier League kicks off 266 00:14:28,360 --> 00:14:31,760 Speaker 1: this weekend after the off season. It is considered the 267 00:14:31,880 --> 00:14:35,240 Speaker 1: most widely viewed sporting league in the world. 268 00:14:35,280 --> 00:14:38,280 Speaker 2: Do you know that, Well, yes, I've got a little 269 00:14:38,360 --> 00:14:40,240 Speaker 2: quiz for you on this one, Michael, So I mean 270 00:14:41,240 --> 00:14:44,240 Speaker 2: it's kicking off. It's kicking off tomorrow morning Australian time. 271 00:14:44,320 --> 00:14:48,280 Speaker 2: Manchester City is looking for a record breaking fifth consecutive title. 272 00:14:48,640 --> 00:14:53,000 Speaker 2: Of course, we're all interested in Australia's and Postakoglu who 273 00:14:53,040 --> 00:14:56,360 Speaker 2: he's hoping for more consistencies from his Tottenham Hotspur team 274 00:14:56,760 --> 00:14:59,640 Speaker 2: during his second year in charge. Title of three hundred 275 00:14:59,640 --> 00:15:03,400 Speaker 2: and eighty matches over the season generates about six billion 276 00:15:03,680 --> 00:15:06,920 Speaker 2: pounds in revenue each year. It's about twelve billion Aussie dollars, 277 00:15:06,920 --> 00:15:10,800 Speaker 2: with the big six teams Manchester City, Man United, Arsenal Spurs, 278 00:15:10,880 --> 00:15:14,880 Speaker 2: Chelsea and Liverpool dominant in terms of revenue. It did 279 00:15:14,880 --> 00:15:17,040 Speaker 2: make me think about some of the biggest sports in 280 00:15:17,080 --> 00:15:20,040 Speaker 2: the world and I did get a bit surprised by this. 281 00:15:20,280 --> 00:15:23,720 Speaker 2: It's a test for you, Michael. So football is the 282 00:15:23,760 --> 00:15:28,040 Speaker 2: biggest sport soccer as many people in Australia football can 283 00:15:28,080 --> 00:15:30,680 Speaker 2: you give me? I want you to try and give 284 00:15:30,720 --> 00:15:34,960 Speaker 2: me five of the next nine? So with the top 285 00:15:35,240 --> 00:15:39,440 Speaker 2: ten sports, what's five of the next nine? Go for it? 286 00:15:39,480 --> 00:15:40,280 Speaker 2: I think be interesting. 287 00:15:40,320 --> 00:15:43,760 Speaker 1: This is in terms of the number of people who participate. 288 00:15:43,200 --> 00:15:45,160 Speaker 2: Or watch, and these are all the bit you know, 289 00:15:45,240 --> 00:15:48,760 Speaker 2: these numbers are slightly gray. Different sources have different numbers, 290 00:15:48,760 --> 00:15:51,880 Speaker 2: but these broadly the top ten. So football is number one. 291 00:15:52,080 --> 00:15:54,160 Speaker 1: Now, what I learned from doing pub trivia is to 292 00:15:54,360 --> 00:15:57,480 Speaker 1: just if you present it as coming from a definitive list, 293 00:15:57,560 --> 00:16:01,040 Speaker 1: you never have to divulge where that is. Just never 294 00:16:01,160 --> 00:16:09,120 Speaker 1: let on that it's gray anyway. Okay, I'm going to say, okay, 295 00:16:09,160 --> 00:16:11,320 Speaker 1: so soccer is number one. I'm stalling here as I 296 00:16:11,320 --> 00:16:13,200 Speaker 1: think netball. 297 00:16:13,520 --> 00:16:15,760 Speaker 2: No, that might be in Australia. You have to think 298 00:16:15,760 --> 00:16:20,960 Speaker 2: of the big countries, you know, like cricket, well done 299 00:16:21,520 --> 00:16:22,480 Speaker 2: India cricket. 300 00:16:24,520 --> 00:16:26,400 Speaker 1: If I'm thinking India hockey then. 301 00:16:26,280 --> 00:16:28,760 Speaker 2: As well, Yes, field hockey, definitely yes. 302 00:16:28,840 --> 00:16:30,640 Speaker 1: I used to ask a pub trivia question that was 303 00:16:30,680 --> 00:16:35,160 Speaker 1: about kind of the hockey strong nations, and India was 304 00:16:35,160 --> 00:16:37,560 Speaker 1: always kind of a very prominent country there. 305 00:16:37,720 --> 00:16:41,400 Speaker 2: Yeah, this could go forever because you're just avoiding. 306 00:16:41,560 --> 00:16:43,080 Speaker 1: I'm okay, okay, okay, okay, okay. 307 00:16:43,280 --> 00:16:47,480 Speaker 2: Baseball, yeah, it is top ten, but not work at 308 00:16:47,480 --> 00:16:48,120 Speaker 2: the bottom of it. 309 00:16:49,560 --> 00:16:50,400 Speaker 1: What about tennis? 310 00:16:51,000 --> 00:16:53,920 Speaker 2: Tennis is definitely there. Yeah, tennis is that's there. We're 311 00:16:54,280 --> 00:16:56,800 Speaker 2: basically golf third, Gulf's number ten. 312 00:16:57,600 --> 00:17:01,160 Speaker 1: Can we pretend that I didn't nominate netball as first dance? 313 00:17:01,360 --> 00:17:07,240 Speaker 2: No? No. A couple of real surprises. Volleyball. Volleyball is 314 00:17:07,280 --> 00:17:12,320 Speaker 2: apparently the fifth most participated sport table tennis, which probably 315 00:17:12,320 --> 00:17:13,600 Speaker 2: Asian nations. 316 00:17:13,720 --> 00:17:17,600 Speaker 1: And every kind of Australian household after about kind of 317 00:17:17,640 --> 00:17:19,120 Speaker 1: eleven o'clock on a Saturday night. 318 00:17:19,320 --> 00:17:23,160 Speaker 2: Yeah, that's it. That's it. You mentioned baseball, basketball, another 319 00:17:23,200 --> 00:17:26,639 Speaker 2: big one. You mentioned golf, rugbysy the other one that 320 00:17:26,720 --> 00:17:27,600 Speaker 2: ran out the top ten. 321 00:17:28,119 --> 00:17:29,680 Speaker 1: Oh, I was going to say all of those. 322 00:17:29,720 --> 00:17:32,520 Speaker 2: Actually yeah, yeah, And I'm going to share the most 323 00:17:32,600 --> 00:17:35,679 Speaker 2: money because we're a business podcast. The most money in 324 00:17:35,720 --> 00:17:38,920 Speaker 2: a league like EPL comes in I think it comes 325 00:17:38,960 --> 00:17:41,320 Speaker 2: in the fourth or something like that. But the big 326 00:17:41,320 --> 00:17:44,120 Speaker 2: ones of the US leagues Baseball, American football, and basketball. 327 00:17:44,119 --> 00:17:46,160 Speaker 2: Not surprising. National Hockey League in the US I think 328 00:17:46,320 --> 00:17:49,720 Speaker 2: is five, EPL coming in at four. Others in the 329 00:17:49,760 --> 00:17:53,119 Speaker 2: ranking Indian Premier League, of course, the surprise is there 330 00:17:53,800 --> 00:17:57,720 Speaker 2: the F one of course, Formula one and the AFL 331 00:17:58,080 --> 00:18:02,320 Speaker 2: is ranked somewhere sort of ten to fifteen globally. There 332 00:18:02,359 --> 00:18:05,199 Speaker 2: you go. Really yeah, I was surprised by this in 333 00:18:05,280 --> 00:18:06,480 Speaker 2: terms of revenue. 334 00:18:07,119 --> 00:18:12,879 Speaker 1: Sean m I've just had a brilliant idea. We could 335 00:18:13,320 --> 00:18:16,840 Speaker 1: we could travel around the country doing Fear and Greed trivia. 336 00:18:17,320 --> 00:18:18,800 Speaker 2: Yes, we could. 337 00:18:18,640 --> 00:18:22,320 Speaker 1: Come to your company host a boardroom trivia session. 338 00:18:22,440 --> 00:18:28,000 Speaker 2: Yes, somewhere between business and stuff that you do, Michael, Yeah, 339 00:18:28,640 --> 00:18:29,840 Speaker 2: like movies. 340 00:18:30,000 --> 00:18:31,959 Speaker 1: It's a look, you know, it's a and you're what 341 00:18:31,960 --> 00:18:33,760 Speaker 1: the prize would be, Sewan, You know, what the prize 342 00:18:33,760 --> 00:18:34,160 Speaker 1: would be. 343 00:18:34,440 --> 00:18:36,159 Speaker 2: I'm a mug. 344 00:18:36,880 --> 00:18:39,399 Speaker 1: I'm me a mug for the top three teams this 345 00:18:39,720 --> 00:18:41,760 Speaker 1: and you've got to share the mug with your teammates. 346 00:18:41,920 --> 00:18:43,720 Speaker 2: Yes, yes, creepy. 347 00:18:44,880 --> 00:18:47,800 Speaker 1: Anyway, it's not a not a bad idea, probably not 348 00:18:47,800 --> 00:18:49,640 Speaker 1: the best idea I've ever come up with. Up next 349 00:18:49,720 --> 00:18:52,160 Speaker 1: is the Fear and Greed Daily Interview Treasury Wine Estate 350 00:18:52,280 --> 00:18:54,800 Speaker 1: CEO Tim Ford talking about yesterday's results. 351 00:18:54,920 --> 00:18:57,560 Speaker 2: Yeah, well worth tuning in for that one. All about 352 00:18:57,560 --> 00:19:00,240 Speaker 2: their pushing the US, what they're doing with their cheaper brand's, 353 00:19:00,280 --> 00:19:02,280 Speaker 2: the plans to sell that and of course penfols. 354 00:19:02,400 --> 00:19:04,200 Speaker 1: Indeed, it is up next in the Fear and Greed 355 00:19:04,200 --> 00:19:07,760 Speaker 1: playlist on your podcast platform or at Fearangreed dot com 356 00:19:07,800 --> 00:19:08,480 Speaker 1: dot au. 357 00:19:09,200 --> 00:19:10,959 Speaker 2: Thank you, Sean, Thank you Michael. 358 00:19:11,160 --> 00:19:13,680 Speaker 1: It is Friday, the sixteenth of August twenty twenty four. 359 00:19:13,960 --> 00:19:16,119 Speaker 1: Make sure you're following the podcast and please join us 360 00:19:16,200 --> 00:19:20,520 Speaker 1: online on LinkedIn, Instagram, x TikTok and Facebook. I'm Michael 361 00:19:20,560 --> 00:19:23,080 Speaker 1: Thompson and that was Fear and Greed. Have a great day.