1 00:00:06,440 --> 00:00:09,920 Speaker 1: The labor market shows plenty of resilience with forty seven 2 00:00:10,440 --> 00:00:13,880 Speaker 1: five hundred new jobs created last month. The share market 3 00:00:13,960 --> 00:00:17,759 Speaker 1: hits and closes at a record high, and maybe the 4 00:00:17,880 --> 00:00:20,840 Speaker 1: end is nigh for Tupperware. Welcome to Fear and Greed. 5 00:00:20,960 --> 00:00:23,320 Speaker 1: Daily business news for people who make their own decisions. 6 00:00:23,360 --> 00:00:26,119 Speaker 1: It is Friday, the twentieth of September twenty twenty four. 7 00:00:26,360 --> 00:00:28,680 Speaker 1: I'm Michael Thompson, and good morning, Sean Aylmer. 8 00:00:28,880 --> 00:00:30,640 Speaker 2: Good morning, Michael Sewan. 9 00:00:30,680 --> 00:00:33,839 Speaker 1: The main story this morning, around forty seven and a 10 00:00:33,880 --> 00:00:37,240 Speaker 1: half thousand new jobs were created last month, mostly part 11 00:00:37,240 --> 00:00:40,280 Speaker 1: time roles, and the unemployment rate came in at four 12 00:00:40,320 --> 00:00:43,839 Speaker 1: point two percent. Is the labor market really continues to 13 00:00:43,920 --> 00:00:48,839 Speaker 1: show a hefty chunk of resilience. It's a chunk of resilience, a. 14 00:00:48,800 --> 00:00:51,840 Speaker 2: Thing, I think, so, whatever it is, it's the main 15 00:00:51,920 --> 00:00:54,280 Speaker 2: reason we're not going to see an interest rate cut 16 00:00:54,320 --> 00:00:58,680 Speaker 2: anytime soon. Yesterday's labor for statistics from the Bureau of 17 00:00:58,680 --> 00:01:02,080 Speaker 2: Statistics were good by any measure, and it was the 18 00:01:02,160 --> 00:01:05,720 Speaker 2: fifth month of better than expected data. No wonder the 19 00:01:05,720 --> 00:01:08,120 Speaker 2: Reserve Bank thinks that the labor market is still providing 20 00:01:08,160 --> 00:01:10,800 Speaker 2: fodder for inflation. Over the past year, the total number 21 00:01:10,840 --> 00:01:13,600 Speaker 2: of people employed has risen by two point seven percent, 22 00:01:14,040 --> 00:01:16,840 Speaker 2: but the unemployment rate has also risen by zero point 23 00:01:16,880 --> 00:01:19,760 Speaker 2: seven percentage points. Since it's low, there's so much going 24 00:01:19,760 --> 00:01:22,559 Speaker 2: on in the labor market, including more people looking for work, 25 00:01:22,640 --> 00:01:25,720 Speaker 2: possibly because of the cost of living crisis. There's also 26 00:01:25,760 --> 00:01:29,480 Speaker 2: plenty of migration going on. Economists say the unemployment rate 27 00:01:29,600 --> 00:01:32,600 Speaker 2: is a good way to judge what's happening, and that 28 00:01:32,800 --> 00:01:36,360 Speaker 2: is trending higher. It is still very low, and it's 29 00:01:36,360 --> 00:01:39,640 Speaker 2: only trending higher very slowly. Jobs growth has been driven 30 00:01:39,640 --> 00:01:42,319 Speaker 2: by part time work, and total hours worked across the 31 00:01:42,319 --> 00:01:47,120 Speaker 2: country rows only slightly, while the level of underemployment is 32 00:01:47,200 --> 00:01:50,680 Speaker 2: ticking higher. None of that is particularly good news. The 33 00:01:50,680 --> 00:01:53,240 Speaker 2: Reserve Bank has recently pushed the idea that the unemployment 34 00:01:53,280 --> 00:01:56,360 Speaker 2: rate needs to rise before it will consider cutting rates. 35 00:01:56,440 --> 00:02:00,800 Speaker 2: Yesterday's figures certainly support the view that nothing's going to 36 00:02:00,840 --> 00:02:03,840 Speaker 2: happen on interest rates anytime soon now. 37 00:02:03,920 --> 00:02:07,080 Speaker 1: The unemployment rate wasn't the only big economic news yesterday. 38 00:02:07,080 --> 00:02:08,920 Speaker 1: In fact, yes that it was pretty much Christmas Day 39 00:02:08,960 --> 00:02:12,200 Speaker 1: for economists, wasn't it, because the US Federal Reserve cut 40 00:02:12,240 --> 00:02:16,000 Speaker 1: the benchmark rate in the world's biggest economy by fifty 41 00:02:16,040 --> 00:02:16,720 Speaker 1: basis points. 42 00:02:17,080 --> 00:02:20,000 Speaker 2: The era of easing is upon us, at least in 43 00:02:20,040 --> 00:02:22,680 Speaker 2: the US, with the Fed signaling more reductions are on 44 00:02:22,720 --> 00:02:25,120 Speaker 2: the way. It's the first cut in more than four years, 45 00:02:25,240 --> 00:02:28,239 Speaker 2: leaves the FED funds target rate at between four point 46 00:02:28,280 --> 00:02:31,480 Speaker 2: seventy five percent five percent. The large cut suggests the 47 00:02:31,520 --> 00:02:34,680 Speaker 2: FED is worried about weakening in the US economy and 48 00:02:34,919 --> 00:02:36,880 Speaker 2: labor market. Fed chairs your own power so that the 49 00:02:36,919 --> 00:02:39,240 Speaker 2: US economy is still in a good place and the 50 00:02:39,320 --> 00:02:43,120 Speaker 2: goal is to keep it there. He very much reiterated 51 00:02:43,120 --> 00:02:46,680 Speaker 2: the idea that he didn't think a slump was coming. 52 00:02:46,919 --> 00:02:49,760 Speaker 2: He just wanted to make sure things were ticking over. 53 00:02:50,480 --> 00:02:52,919 Speaker 2: He said rates were not on a preset path, so 54 00:02:53,160 --> 00:02:57,079 Speaker 2: if inflation proves sticky, the FED could dial back policy 55 00:02:57,200 --> 00:03:00,560 Speaker 2: restraint more slowly. The rate cut initially fig to rally 56 00:03:00,600 --> 00:03:03,480 Speaker 2: in equities before they climb slightly lower on Wall Street. 57 00:03:03,760 --> 00:03:06,000 Speaker 2: That's on fears that the US economy is weakening too much. 58 00:03:06,080 --> 00:03:07,959 Speaker 2: The fact that the US has started cutting rates in 59 00:03:07,960 --> 00:03:10,000 Speaker 2: the Reserve Bank is determined to keep rates on hold 60 00:03:10,040 --> 00:03:13,080 Speaker 2: this year prompted a comment from Prime Minister Anthony Alberanezi. 61 00:03:13,360 --> 00:03:15,520 Speaker 2: He said the US Fed was cutting interest rates from 62 00:03:15,520 --> 00:03:18,760 Speaker 2: a high starting point in Australia. That's kind of true. 63 00:03:18,840 --> 00:03:22,040 Speaker 2: The US benchmark peaked at about five to five and 64 00:03:22,120 --> 00:03:25,040 Speaker 2: quarter percent. The local cash rate is four point three 65 00:03:25,120 --> 00:03:25,639 Speaker 2: five percent. 66 00:03:26,160 --> 00:03:28,640 Speaker 1: I think it's a fairly apt description to say that 67 00:03:28,680 --> 00:03:30,800 Speaker 1: it was like Christmas Day for economists. So it makes 68 00:03:30,800 --> 00:03:34,400 Speaker 1: sense that your guest today, Sean in the Fear and 69 00:03:34,400 --> 00:03:36,040 Speaker 1: Greed Business Interview. 70 00:03:35,640 --> 00:03:37,880 Speaker 2: Interested in this segue here, Yes, hows you get. 71 00:03:37,880 --> 00:03:41,640 Speaker 1: Is in fact an economist. It's a very simple, very 72 00:03:41,680 --> 00:03:44,080 Speaker 1: clear segue. I think what we get. I wasn't going 73 00:03:44,160 --> 00:03:46,080 Speaker 1: to compares. 74 00:03:45,160 --> 00:03:46,000 Speaker 2: Santa Claus or something. 75 00:03:46,080 --> 00:03:50,400 Speaker 1: Yeah, thea Massena at amp is actually Santa Claus. No' 76 00:03:51,040 --> 00:03:53,040 Speaker 1: very It's just she's an economist. She would have had 77 00:03:53,040 --> 00:03:54,000 Speaker 1: a great time yesterday. 78 00:03:54,280 --> 00:03:56,680 Speaker 2: Well, plenty of gifts in the interview in terms of 79 00:03:56,720 --> 00:03:58,840 Speaker 2: economic knowledge. Maybe we could go that way. 80 00:04:00,160 --> 00:04:04,800 Speaker 1: I'm not groaning because that was terrible. I'm groaning because 81 00:04:04,800 --> 00:04:05,680 Speaker 1: I wish I'd thought of that. 82 00:04:06,800 --> 00:04:08,960 Speaker 2: Yeah. Anyway, it's a great interview with Diana, and we 83 00:04:09,040 --> 00:04:13,040 Speaker 2: go through the Fed's decision, we go through unemployment and 84 00:04:13,160 --> 00:04:17,039 Speaker 2: what happens now on interest rates. Fantastic communicated Doan always 85 00:04:17,040 --> 00:04:19,200 Speaker 2: seems to put it in plain English in a way 86 00:04:19,240 --> 00:04:22,120 Speaker 2: that I can understand it so loved interviewing. 87 00:04:21,720 --> 00:04:23,599 Speaker 1: R It's coming up after the show. Stick around for 88 00:04:23,600 --> 00:04:25,679 Speaker 1: that one. Local markets, how do they perform? 89 00:04:25,760 --> 00:04:28,279 Speaker 2: Yesterday? Well, the US rate cut and the unemployment figures 90 00:04:28,279 --> 00:04:30,960 Speaker 2: combined to push the local market to a new record 91 00:04:31,040 --> 00:04:35,120 Speaker 2: close of eight thousand, one hundred and eighty two points, 92 00:04:35,160 --> 00:04:37,719 Speaker 2: but not before it briefly, at about just before three 93 00:04:37,720 --> 00:04:41,599 Speaker 2: pm yesterday touched eighty two hundred points. Surely that's got 94 00:04:41,640 --> 00:04:43,719 Speaker 2: champagne all over it. The Big I and all miners 95 00:04:43,760 --> 00:04:46,120 Speaker 2: did well, following a rise in the price of the commodity, 96 00:04:46,120 --> 00:04:48,240 Speaker 2: where I jumped three point four percent, the HP two 97 00:04:48,240 --> 00:04:52,040 Speaker 2: point eight percent, FORSQW Metalscrip one point seven percent. Woodside 98 00:04:52,200 --> 00:04:54,760 Speaker 2: was also up sharply, rising more than one percent. Staying 99 00:04:54,839 --> 00:04:57,880 Speaker 2: in the resources sector, the uranium stocks generally did pretty well. 100 00:04:57,960 --> 00:05:01,520 Speaker 2: James Hardy jumped five percent. Otherwise, Goodman A and Z 101 00:05:01,720 --> 00:05:05,279 Speaker 2: and mcquarie Alroys. Worst large caps were QBE Transurban and 102 00:05:05,520 --> 00:05:10,279 Speaker 2: Ria Group. In corporate news, Engineering Group, Manadelphus Group unveiled 103 00:05:10,320 --> 00:05:13,560 Speaker 2: new contracts totaling two hundred and thirty million dollars. Commercial 104 00:05:13,560 --> 00:05:17,680 Speaker 2: explosives maker Ourica expects earnings to be above previous forecasts 105 00:05:17,800 --> 00:05:22,279 Speaker 2: for the September half year. Brisbane based testing Giant Als 106 00:05:22,480 --> 00:05:26,000 Speaker 2: said its minerals business has faced volume headwinds, triggering a 107 00:05:26,200 --> 00:05:29,640 Speaker 2: nine percent slump in its share price. It was definitely 108 00:05:29,680 --> 00:05:32,320 Speaker 2: the worst of the day and SIMS Metal Group update 109 00:05:32,360 --> 00:05:34,920 Speaker 2: of the market sending its share price up twelve percent, 110 00:05:34,960 --> 00:05:37,400 Speaker 2: So obviously investors like that one. 111 00:05:37,080 --> 00:05:40,040 Speaker 1: Now, Sean thanks for blue chip Communication the experts helping 112 00:05:40,080 --> 00:05:43,880 Speaker 1: financial services companies market, communicate and grow is a blue 113 00:05:43,920 --> 00:05:46,520 Speaker 1: chip communication dot com dot A. You've talked a lot 114 00:05:46,520 --> 00:05:48,960 Speaker 1: about international markets. Much else going on. 115 00:05:49,200 --> 00:05:51,840 Speaker 2: While the interest rate decision from the FED was very 116 00:05:51,880 --> 00:05:54,840 Speaker 2: much the dominant theme over the past thirty six hours. 117 00:05:54,839 --> 00:05:57,760 Speaker 2: Wall Street initially hit a record high after the news, 118 00:05:57,800 --> 00:06:01,599 Speaker 2: but then fell back. For equities investors is whether they 119 00:06:01,640 --> 00:06:05,159 Speaker 2: should be excited about Lara interstrates helping consumers and corporate earnings, 120 00:06:06,040 --> 00:06:09,120 Speaker 2: or maybe they should be worried that it's just the 121 00:06:09,160 --> 00:06:11,279 Speaker 2: sharp slow down in the US economy. That's what they're 122 00:06:11,320 --> 00:06:14,200 Speaker 2: sort of judging at the moment. The move in rates 123 00:06:14,279 --> 00:06:16,600 Speaker 2: pushed the price of gold above twenty six hundred US 124 00:06:16,640 --> 00:06:19,320 Speaker 2: dollars an ounce for the first time. Oil was slightly 125 00:06:19,360 --> 00:06:21,559 Speaker 2: lower or the interest rate discussion has helped the Ausie 126 00:06:21,560 --> 00:06:24,719 Speaker 2: dollar appreciate against the US dollar. In fact, it pushed 127 00:06:24,760 --> 00:06:28,520 Speaker 2: back above sixty eight US since it's been a couple 128 00:06:28,560 --> 00:06:31,120 Speaker 2: of years since the local currency has been consistently above 129 00:06:31,200 --> 00:06:31,719 Speaker 2: that level. 130 00:06:31,960 --> 00:06:33,720 Speaker 1: All right, well, you've got a bit to get through, Sean. 131 00:06:33,800 --> 00:06:35,160 Speaker 1: We'll be back in a moment with the rest of 132 00:06:35,200 --> 00:06:46,480 Speaker 1: the day's business news sewn. The relationship between Australia and 133 00:06:46,520 --> 00:06:49,880 Speaker 1: the United States remained strong, according to Prime Minister Anthony 134 00:06:49,920 --> 00:06:53,320 Speaker 1: Alberizi as he prepares to meet US President Joe Biden 135 00:06:53,360 --> 00:06:54,640 Speaker 1: at the Quad Leader's Summit. 136 00:06:55,120 --> 00:06:57,520 Speaker 2: Speaking from Cannes before he leaves for the US, Mister 137 00:06:57,560 --> 00:06:59,840 Speaker 2: Albanize He said the meeting was an opportunity for all 138 00:07:00,120 --> 00:07:03,000 Speaker 2: size to re engage. He said the relationship is based 139 00:07:03,040 --> 00:07:06,000 Speaker 2: on common values and the alliance has remained strong no 140 00:07:06,040 --> 00:07:08,120 Speaker 2: matter who's the President of the United States and who's 141 00:07:08,160 --> 00:07:10,960 Speaker 2: the Prime Minister of Australia now. He said he had 142 00:07:10,960 --> 00:07:14,520 Speaker 2: a very close personal relationship with President Joe Biden and 143 00:07:14,560 --> 00:07:17,040 Speaker 2: he was looking forward to seeing him again, notwithstanding he's 144 00:07:17,080 --> 00:07:18,560 Speaker 2: not running in November. 145 00:07:19,120 --> 00:07:22,600 Speaker 1: Sean Australia has abstained from a United Nations vote calling 146 00:07:22,640 --> 00:07:26,640 Speaker 1: on Israel to end its quote unlawful presence in Palestine. 147 00:07:26,800 --> 00:07:30,960 Speaker 2: The United Nations General Assembly adopted a Palestinian drafted resolution 148 00:07:31,080 --> 00:07:36,000 Speaker 2: demanding Israel and its unlawful presence in the occupied Palestinian 149 00:07:36,120 --> 00:07:39,440 Speaker 2: territory within twelve months. The resolution received one hundred and 150 00:07:39,480 --> 00:07:42,600 Speaker 2: twenty four votes in favor, while forty three countries, including 151 00:07:42,640 --> 00:07:45,960 Speaker 2: Australia abstained and Israel, the United States and twelve others 152 00:07:46,040 --> 00:07:49,320 Speaker 2: voted no. Foreign Affairs Minister Pennywong told ABZ Radio the 153 00:07:49,360 --> 00:07:53,040 Speaker 2: government looked very carefully at the resolution and sought amendments 154 00:07:53,040 --> 00:07:55,760 Speaker 2: that meant the resolution better afflected the July opinion of 155 00:07:55,800 --> 00:07:59,640 Speaker 2: the International Court of Justice. That opinion said Israel's occupation 156 00:07:59,800 --> 00:08:04,120 Speaker 2: of Palestinian territories and settlements was illegal and should be withdrawn. 157 00:08:04,600 --> 00:08:08,000 Speaker 2: A step down from what was put forward yesterday in 158 00:08:08,080 --> 00:08:12,680 Speaker 2: terms of the phrase unlawful presence when those amendments weren't forthcoming. 159 00:08:12,760 --> 00:08:13,840 Speaker 2: Australia abstained. 160 00:08:14,480 --> 00:08:16,880 Speaker 1: Now this is interesting, Sean. We talk a bit about 161 00:08:16,920 --> 00:08:19,200 Speaker 1: the Future Fund because obviously it's one of the country's 162 00:08:19,200 --> 00:08:23,640 Speaker 1: biggest investors, and it's revealed that it voted against Woodside's 163 00:08:23,680 --> 00:08:26,880 Speaker 1: climate chain strategy. Heaping more pressure onto the oil and 164 00:08:26,880 --> 00:08:27,520 Speaker 1: gas giant. 165 00:08:28,200 --> 00:08:29,880 Speaker 2: It was on a line. Nearly sixty percent of the 166 00:08:29,920 --> 00:08:33,480 Speaker 2: register voted against the strategy in April, and with the 167 00:08:33,520 --> 00:08:37,920 Speaker 2: Future Fund now publicly adding its voice, Chair Richard Goiter 168 00:08:37,960 --> 00:08:41,680 Speaker 2: and Chief executive mego Nell, that's a woodside are certainly 169 00:08:41,760 --> 00:08:45,360 Speaker 2: under pressure to improve the group's efforts in transitioning to 170 00:08:45,400 --> 00:08:48,800 Speaker 2: greener energy. The Future Fund invests about ten percent of 171 00:08:48,840 --> 00:08:51,720 Speaker 2: its assets, that's about twenty three billion dollars in Aussie equities. 172 00:08:52,080 --> 00:08:55,160 Speaker 2: It's pretty powerful. Yesterday it released its proxy voting record 173 00:08:55,520 --> 00:08:57,720 Speaker 2: and it shows that the Future Fund voted against the 174 00:08:57,760 --> 00:09:01,520 Speaker 2: executive payment plans at a number of major companies, including Fortes, 175 00:09:01,600 --> 00:09:04,079 Speaker 2: uew Metal and Harvey Norman. It also voted against the 176 00:09:04,120 --> 00:09:07,280 Speaker 2: reelection of a number of directors at Quantas. I wouldn't 177 00:09:07,280 --> 00:09:11,400 Speaker 2: say the Future Fund is an activist investor, but clearly 178 00:09:11,440 --> 00:09:14,480 Speaker 2: it is active in using its shareholdings to make its 179 00:09:14,559 --> 00:09:17,760 Speaker 2: voice heard. By releasing all the details of its proxy 180 00:09:17,840 --> 00:09:22,640 Speaker 2: voting yesterday, it just strengths weight around, just a little bit, 181 00:09:23,240 --> 00:09:24,760 Speaker 2: just a wee bit, a wee bit of weight. 182 00:09:25,800 --> 00:09:30,800 Speaker 1: Speaking of W's Woolworth, it's what a segue. Oh I'm proud. 183 00:09:30,520 --> 00:09:33,080 Speaker 2: Of this one. Nice Woolworth is under. 184 00:09:32,840 --> 00:09:36,200 Speaker 1: Pressure to ditch the Big W discount chain and spin 185 00:09:36,240 --> 00:09:39,640 Speaker 1: off its New Zealand division and return to focusing on supermarkets. 186 00:09:40,280 --> 00:09:42,360 Speaker 2: Yeah, there's been talk about this for quite a few months. 187 00:09:42,720 --> 00:09:45,480 Speaker 2: Is particularly the Big W discount chain. Talk Woolies has 188 00:09:45,520 --> 00:09:48,000 Speaker 2: been the underperformer of the big two supermarket chains, with 189 00:09:48,120 --> 00:09:51,400 Speaker 2: Cohles doing better in terms of sales growth. Coles is 190 00:09:51,440 --> 00:09:55,600 Speaker 2: considered a simpler business than Woolies now activist shareholder first 191 00:09:55,640 --> 00:09:58,840 Speaker 2: cent Here investors. It's got a small position in the 192 00:09:58,880 --> 00:10:01,800 Speaker 2: supermarket chain. It reckons that the Big W business is 193 00:10:01,840 --> 00:10:05,120 Speaker 2: destroying capital. According to report in the fin Review, Big 194 00:10:05,240 --> 00:10:08,120 Speaker 2: W of course competes with Kmart and Target. It struggled 195 00:10:08,120 --> 00:10:11,680 Speaker 2: for several years Black Hoddle Investment Partners. It says that 196 00:10:11,679 --> 00:10:14,959 Speaker 2: the New Zealand Supermarkets division hasn't performed well and could 197 00:10:15,000 --> 00:10:19,360 Speaker 2: be sold off. Woollies mind you, it brought countdown the store. 198 00:10:19,440 --> 00:10:22,520 Speaker 2: It's expanded aggressively in New Zealand. It now has about 199 00:10:22,520 --> 00:10:25,920 Speaker 2: two hundred stores. All these comments are directed towards the 200 00:10:26,000 --> 00:10:29,400 Speaker 2: new Woolly CEO, Amanda Bardwell, who only started in the 201 00:10:29,480 --> 00:10:30,520 Speaker 2: job three weeks ago. 202 00:10:31,320 --> 00:10:35,640 Speaker 1: Goodness met and already dealing with plenty of plenty of commentary. 203 00:10:35,600 --> 00:10:38,040 Speaker 2: YEA, well, we know, when you're a new boss coming in, 204 00:10:38,200 --> 00:10:40,400 Speaker 2: you're probably not a bad time to make the changes. 205 00:10:40,720 --> 00:10:44,760 Speaker 1: Yeah, that's a good point. Saudi Aramco, the world's biggest 206 00:10:44,800 --> 00:10:48,680 Speaker 1: oil producer, will indirectly grow its interest in several Australian 207 00:10:48,920 --> 00:10:52,160 Speaker 1: LNG projects through an increased stake in mid Ocean Energy. 208 00:10:52,679 --> 00:10:55,800 Speaker 2: Mid Ocean, started by US private equity player EIG, owned 209 00:10:55,840 --> 00:10:59,760 Speaker 2: small stakes in three large local LNG projects, Woodside Energies, 210 00:10:59,760 --> 00:11:05,600 Speaker 2: Please Ellen g Chevron's Gorgan Venture and Charls Queensland Curtis Project. 211 00:11:05,920 --> 00:11:09,920 Speaker 2: Midation said that Saudi Eremko will increase its stake in 212 00:11:09,960 --> 00:11:12,719 Speaker 2: the company to forty nine percent. According to report in 213 00:11:12,760 --> 00:11:16,000 Speaker 2: the finn Aremko took an initial five hundred million US 214 00:11:16,000 --> 00:11:19,640 Speaker 2: dollar interest late last year in midationan in which Mitsubishi 215 00:11:19,760 --> 00:11:22,400 Speaker 2: is also an investor. Mid Ocean led the consortium that 216 00:11:22,480 --> 00:11:26,360 Speaker 2: made an unsuccessful takeover a bid for Origin Energy last year. 217 00:11:26,400 --> 00:11:28,840 Speaker 2: So it knows this economy pretty well. 218 00:11:28,960 --> 00:11:32,080 Speaker 1: All right. Turning to International News Now and pro Kremlin 219 00:11:32,160 --> 00:11:37,559 Speaker 1: websites and social media accounts pushing the unsubstantiated claim that 220 00:11:37,920 --> 00:11:42,040 Speaker 1: Ukraine orchestrated a potential assassination attempt against Donald Trump. 221 00:11:42,480 --> 00:11:46,000 Speaker 2: Shortly after, Ryan Wesley Ruth was identified as the suspect, 222 00:11:46,040 --> 00:11:48,560 Speaker 2: believed to have pointed a rifle towards a Florida golf 223 00:11:48,600 --> 00:11:51,360 Speaker 2: course where mister Trump was playing over the weekend, Russian 224 00:11:51,360 --> 00:11:54,120 Speaker 2: state media outlets and officials on social media suggested the 225 00:11:54,160 --> 00:11:57,720 Speaker 2: fifty eight year old was an agent working on behalf 226 00:11:57,760 --> 00:12:01,520 Speaker 2: of Kiev. According to report in The Washington Post, Ruth's 227 00:12:01,520 --> 00:12:04,640 Speaker 2: social media post show he is a staunch supporter of 228 00:12:04,840 --> 00:12:07,679 Speaker 2: Ukraine who traveled there and attempted to join the war effort, 229 00:12:07,679 --> 00:12:11,040 Speaker 2: but Ukrainian government officials have denied that he has any 230 00:12:11,080 --> 00:12:14,240 Speaker 2: links to the government or military. The claims were soon 231 00:12:14,240 --> 00:12:18,200 Speaker 2: echoed by conservative commentators in the United States. It just 232 00:12:18,240 --> 00:12:19,679 Speaker 2: gets weirder and weirder. 233 00:12:19,960 --> 00:12:24,400 Speaker 1: It certainly does now. Walkie talkies and solar equipment exploded 234 00:12:24,440 --> 00:12:28,319 Speaker 1: across Lebanon yesterday morning Australian time, in an apparent second 235 00:12:28,360 --> 00:12:33,160 Speaker 1: wave of attacks targeting devices a day after pages used 236 00:12:33,160 --> 00:12:34,439 Speaker 1: by Hesbalah blew up. 237 00:12:34,720 --> 00:12:37,760 Speaker 2: At least fourteen people were killed yesterday morning and more 238 00:12:37,800 --> 00:12:40,160 Speaker 2: than four hundred and fifty wounded in the second wave. 239 00:12:40,200 --> 00:12:43,240 Speaker 2: According to Hesblah. The attacks are widely believed to have been 240 00:12:43,240 --> 00:12:47,160 Speaker 2: carried out by Israel, targeting Hesblah. Now its escalated fears 241 00:12:47,200 --> 00:12:49,559 Speaker 2: of an all out war in the region. Several blasts 242 00:12:49,559 --> 00:12:51,760 Speaker 2: were heard at a funeral in Beay Route for three 243 00:12:51,840 --> 00:12:55,160 Speaker 2: HESBLA members and a child killed by the exploding pages 244 00:12:55,200 --> 00:12:57,520 Speaker 2: the day before. The toll from the two days of 245 00:12:57,559 --> 00:13:00,640 Speaker 2: blast is now thirty two dead, including at least two children, 246 00:13:00,880 --> 00:13:04,160 Speaker 2: and more than three thousand injured. Israeli Defense Minister Yuav 247 00:13:04,200 --> 00:13:07,400 Speaker 2: Glant said the country is entering a new face of 248 00:13:07,440 --> 00:13:10,000 Speaker 2: fighting on its northern border with Lebanon. 249 00:13:10,920 --> 00:13:13,760 Speaker 1: I mentioned this next one, this last one here Sean 250 00:13:13,760 --> 00:13:16,800 Speaker 1: at the top of the show, the company behind Tupperware, 251 00:13:17,160 --> 00:13:21,839 Speaker 1: the plastic kitchenware that revolutionized food storage after World War Two, 252 00:13:22,480 --> 00:13:25,760 Speaker 1: and really it just became part of the nineteen fifties 253 00:13:25,760 --> 00:13:28,200 Speaker 1: and the ninety sixties, just everyday way of life. And 254 00:13:28,200 --> 00:13:30,840 Speaker 1: you would remember it, well, Sean, it's filed for bankruptcy. 255 00:13:31,600 --> 00:13:34,840 Speaker 2: Yeah, seventies as well. Can I add in seventies, I 256 00:13:34,920 --> 00:13:37,040 Speaker 2: remember getting all this sort of you know, being in 257 00:13:37,120 --> 00:13:39,840 Speaker 2: Moulder Street and Orange. It's where we lived in Orange 258 00:13:40,160 --> 00:13:44,640 Speaker 2: and Mum coming tapaways was everything. They had Tupaware parties. 259 00:13:44,640 --> 00:13:48,400 Speaker 2: People come around and sell tup aware, I mean crazy 260 00:13:48,440 --> 00:13:51,520 Speaker 2: times in Orange part it is. 261 00:13:51,480 --> 00:13:54,240 Speaker 1: Still a thing and like to actually have. We have 262 00:13:54,320 --> 00:13:57,640 Speaker 1: a running joke about about what we refer to as 263 00:13:57,880 --> 00:14:01,320 Speaker 1: legit tupperware, and if you have a jit Tupaware, yeah 264 00:14:01,520 --> 00:14:04,040 Speaker 1: kind of it is. That is fancy stuff because there's 265 00:14:04,040 --> 00:14:06,440 Speaker 1: so much knockoff tupaware and stuff out there. But if 266 00:14:06,480 --> 00:14:10,200 Speaker 1: you've got legit Tupaware, the real Tupaware, you are a fancy, 267 00:14:10,320 --> 00:14:11,080 Speaker 1: fancy person. 268 00:14:11,440 --> 00:14:14,720 Speaker 2: Well. Tup Away Brands is actually a company out of Orlando, Florida. 269 00:14:15,320 --> 00:14:18,680 Speaker 2: It said it's seeking Chapter eleven bankruptcy protection after struggling 270 00:14:18,720 --> 00:14:22,440 Speaker 2: to revitalize its core business and failing to secure a 271 00:14:22,640 --> 00:14:28,240 Speaker 2: takeout off. Despite enjoying the same cultural ubiquity as Kleenex, 272 00:14:28,600 --> 00:14:32,760 Speaker 2: Teflon other brands whose trademark names are eponymous with entire 273 00:14:32,800 --> 00:14:35,120 Speaker 2: product categories, I've got to throw brevel into that one 274 00:14:35,360 --> 00:14:36,400 Speaker 2: tasted sandwich maker. 275 00:14:36,920 --> 00:14:39,600 Speaker 1: Any chance to throw brevely in anywhere, and you take it. 276 00:14:40,080 --> 00:14:44,120 Speaker 2: Tubawaars suffered from waning sales, rising competition, and the limitations 277 00:14:44,120 --> 00:14:47,960 Speaker 2: of the direct consumer marketing model that once defined its success. 278 00:14:48,080 --> 00:14:51,120 Speaker 2: Those tuplewear parties aren't working quite as well. According to 279 00:14:51,160 --> 00:14:53,760 Speaker 2: Associated Press, The company said that consumers are shifting away 280 00:14:53,760 --> 00:14:57,720 Speaker 2: from direct sales. Also, the company started growing public health 281 00:14:57,760 --> 00:15:02,520 Speaker 2: and environmental concerns about plastic internal inefficiencies that made it 282 00:15:02,600 --> 00:15:06,320 Speaker 2: challenging to operate globally, and the challenging microeconomic environment of 283 00:15:06,400 --> 00:15:09,800 Speaker 2: the past several years for its financial straits. The plastic one, though, 284 00:15:09,800 --> 00:15:11,760 Speaker 2: I do like because when I thought about it, I'm 285 00:15:11,800 --> 00:15:12,920 Speaker 2: surprised it's made it this far. 286 00:15:13,680 --> 00:15:15,520 Speaker 1: I suppose there's an argument to be made though, the 287 00:15:15,520 --> 00:15:18,760 Speaker 1: fact that you are then reusing this over and and legit, 288 00:15:19,080 --> 00:15:22,480 Speaker 1: legit tup aware should last for years and years and 289 00:15:22,520 --> 00:15:25,720 Speaker 1: years better than using say your Chinese food container, which 290 00:15:25,800 --> 00:15:27,880 Speaker 1: might last twice and then it breaks and then it's 291 00:15:27,920 --> 00:15:28,280 Speaker 1: in the bin. 292 00:15:28,640 --> 00:15:31,240 Speaker 2: So you know the red ones? Is that legit tupe ofware? 293 00:15:31,600 --> 00:15:34,360 Speaker 2: No wants to buy it? Willis and cars No, No, no. 294 00:15:34,400 --> 00:15:37,240 Speaker 1: No, that's so decore or something like that. It is 295 00:15:37,280 --> 00:15:41,400 Speaker 1: dayre well done, well done, I know my containers. Sean, 296 00:15:43,320 --> 00:15:45,560 Speaker 1: Was there a point about the red ones from Woolies 297 00:15:45,640 --> 00:15:46,400 Speaker 1: or were you just kind. 298 00:15:46,240 --> 00:15:48,880 Speaker 2: Of miss my house is full of the red ones? 299 00:15:49,000 --> 00:15:51,800 Speaker 1: No, No, they're not legit tuperwaar you'll know legit tupaware 300 00:15:51,840 --> 00:15:54,440 Speaker 1: because your food just stays so darn fresh. Up next, 301 00:15:54,600 --> 00:15:57,320 Speaker 1: Sean is the Fear and Greed Daily Interview. Your guest today, 302 00:15:57,360 --> 00:16:01,320 Speaker 1: Diana Messina, Deputy Chief Economists from AMP, all. 303 00:16:01,080 --> 00:16:04,880 Speaker 2: About the US interest rate cup yesterday and the labor 304 00:16:04,880 --> 00:16:07,440 Speaker 2: force figures from the Bureau Statistics. What it means for Australia, 305 00:16:07,520 --> 00:16:08,600 Speaker 2: What it means for interest rates. 306 00:16:08,680 --> 00:16:10,480 Speaker 1: Yeah, it does a great chat. It is coming up 307 00:16:10,600 --> 00:16:13,000 Speaker 1: in the Fear and Greed playlist on your podcast platform 308 00:16:13,120 --> 00:16:15,040 Speaker 1: or at Fearangreed dot com today you and keep an 309 00:16:15,080 --> 00:16:18,960 Speaker 1: eye on your playlist because at about midday today I 310 00:16:19,000 --> 00:16:22,720 Speaker 1: say about mid day, it's exactly midday, the bonus episode 311 00:16:22,720 --> 00:16:26,200 Speaker 1: of Ask Fear and Greed will drop. And this is 312 00:16:26,200 --> 00:16:28,480 Speaker 1: a fun one, isn't it, Sean. It is all about 313 00:16:28,480 --> 00:16:31,440 Speaker 1: the language that you use to describe markets. 314 00:16:32,160 --> 00:16:35,360 Speaker 2: Yes, So someone pointed out that I use all sorts 315 00:16:35,360 --> 00:16:39,120 Speaker 2: of adjectives to describe markets, and they're right. And the 316 00:16:39,280 --> 00:16:42,640 Speaker 2: question the question was basically, does it actually mean anything? 317 00:16:42,840 --> 00:16:45,600 Speaker 2: What you're saying? Does it mean anything? So I give 318 00:16:45,920 --> 00:16:48,360 Speaker 2: very legitimate response about why it does mean something or 319 00:16:48,400 --> 00:16:49,479 Speaker 2: something like that anyway. 320 00:16:49,200 --> 00:16:51,560 Speaker 1: Which is my favorite question that anyone has ever asked 321 00:16:51,600 --> 00:16:56,720 Speaker 1: of you does what you say actually mean anything? And 322 00:16:56,760 --> 00:16:58,880 Speaker 1: you had to take it as a legit question and 323 00:16:58,960 --> 00:17:01,400 Speaker 1: answer it. It is a great bonus episode comes out 324 00:17:01,440 --> 00:17:03,680 Speaker 1: at midday. Keep an eye on your playlist for that one, 325 00:17:03,840 --> 00:17:05,480 Speaker 1: and if you've got your own question, feel free to 326 00:17:05,480 --> 00:17:06,320 Speaker 1: shoot it on through to us. 327 00:17:06,320 --> 00:17:08,000 Speaker 2: Thank you very much, Sean, Thank you, Michael. 328 00:17:08,359 --> 00:17:11,120 Speaker 1: It is Friday, the twentieth of September twenty twenty four. 329 00:17:11,160 --> 00:17:13,159 Speaker 1: Make sure you're following the podcast and please join us 330 00:17:13,160 --> 00:17:16,800 Speaker 1: online on LinkedIn, Instagram, x TikTok and Facebook. I'm Michael 331 00:17:16,800 --> 00:17:18,160 Speaker 1: Thompson and that was fear and greed. 332 00:17:18,560 --> 00:17:21,359 Speaker 2: Have a great day.