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Speaker 1: Welcome to Fear and Greed business news you can use today.

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Speaker 1: Super Retail fires at CEO after claiming he misled the

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Speaker 1: board about his alleged relationship with the company's head of HR.

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Speaker 1: The federal government tells social media companies what it wants

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Speaker 1: when the ban for under sixteen year old kicks in

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Speaker 1: and Alphabet owner of Google crosses the three trillion US

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Speaker 1: dollar in value threshold plus profit making in the residential

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Speaker 1: housing market, it is to record high and Donald Trump

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Speaker 1: sues The New York Times for fifteen billion US dollars.

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Speaker 1: It is Wednesday, the seventeenth of September twenty twenty five.

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

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Speaker 2: Good morning, Michael.

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Speaker 1: Got some big numbers in that intro. They're out of

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Speaker 1: brand by the end of it. Some big stories today.

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Speaker 1: The main story this morning, Super Retail, the owner of

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Speaker 1: Rebel Sport BCF and the super TP auto brand, has

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Speaker 1: five chief executive Anthony Herety, after he allegedly misled the

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Speaker 1: board about his relationship with the company's former head of

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Speaker 1: human resources, Jane Kelly.

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Speaker 2: The listed retailers said the decision followed some new information

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Speaker 2: provided by Herety. At the end of last week. After

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Speaker 2: considering the information, the board concluded that his earlier disclosures

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Speaker 2: had been inadequate. Super Retail has been entangled in a

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Speaker 2: high profile court battle with two former executives for more

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Speaker 2: than a year. At the center of their claims was

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Speaker 2: the alleged affair between the chief executive and the head

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Speaker 2: of human resources. Now. In April last year, super Retail's

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Speaker 2: former chief legal officer, Rebecca Farrell, and its former company

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Speaker 2: secretary Emelia Berzelli launched legal action against their previous employer,

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Speaker 2: super Retail overclaims of bullying, harassment, the alleged misuse of funds,

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Speaker 2: and failing to provide a safe workplace. The board played

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Speaker 2: down that those cases are ongoing. The board has played

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Speaker 2: the executive's relationship that between the CEO and the head

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Speaker 2: of HR, saying it started after Kelly had left the company. However,

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Speaker 2: a fresh internal investigation was initiated under new chairwoman due

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Speaker 2: to the Swales according to the Finn review, that has

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Speaker 2: ultimately culminated in yesterday's announcement. The boards also acted Herety's

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Speaker 2: future earnings with both vested and unvested incentives. So I

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Speaker 2: said again Luke, the Boards has also acxed Hereta's future earnings,

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Speaker 2: with both unvested incentives invested but unexercised rights being terminated.

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Speaker 2: Put all that together, that'll cost him about three point

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Speaker 2: four million dollars now sean.

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Speaker 1: This case was particularly unusual because super Retail last year

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Speaker 1: announced the potential legal action ahead of it actually being taken,

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Speaker 1: and it also adds to this growing list of companies

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Speaker 1: where CEOs have had relationships with staff members, which really

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Speaker 1: isn't a great look.

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Speaker 2: No, I mean, last year was Richard White at Weisstech Global,

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Speaker 2: this year super Retail. Actually this year really what was

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Speaker 2: the the astronomer chief executive is the name Andy Bryant

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Speaker 2: from the Coldplay.

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Speaker 1: Concert that's really known as the Coldplay CEO.

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Speaker 2: Yeah, yeah, So, I mean it's going on the point

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Speaker 2: in all this, I think is not so much the

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Speaker 2: relationships that they are probably ill advised if you're a CEO,

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Speaker 2: but I mean not my place to comment on the relationship.

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Speaker 2: It's the transparency around them and how they impack other

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Speaker 2: staff members. In many situations, allegations arise of misuse of

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Speaker 2: company funds, bullying, inadequate whistleblower protections. That's a real problem

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Speaker 2: for any company. Super Retail have certainly taken some the

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Speaker 2: soul of the board has taken decisive action to try

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Speaker 2: and stem what's going on there.

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Speaker 1: Do you remember the gold standard for disclosures as it

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Speaker 1: relates to relationship. Yes, HP boss Mike Henry and the

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Speaker 1: relationship that he was having with Canadian National Railway Chief

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Speaker 1: executive Tracy Robinson, and the BHP directors considered it, gave

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Speaker 1: their approval and then the relationship continued.

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Speaker 2: It was just that the point with that was that

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Speaker 2: BHPS Potash Mining used the rail network, and so it

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Speaker 2: was kind of if there was a relationship between the

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Speaker 2: CEOs of the two, was there a conflict of interest?

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Speaker 2: And as you say, so, it went to the board.

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Speaker 2: The board said no, it's okay, we got yep, justdard.

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Speaker 1: Communication and disclosure is key.

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Speaker 2: Right, communication, disclosure, lifeline of love, the mother.

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Speaker 1: Just run everything through the boardroom. There we go, Okay,

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Speaker 1: let's move on local. Yeah, I don't know local markets.

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Speaker 1: How do they go? Yesterday?

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Speaker 2: Well, there's six two hundred closed up a bit to

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Speaker 2: eighty eight hundred and seventy eight points of the uranium stock

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Speaker 2: did best among the large caps. West Farmers and Fortescu

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Speaker 2: did pretty well sell underperform. More on that in a moment.

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Speaker 2: There was a dollars training just under sixty seven US CNSE,

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Speaker 2: a ten month high in the back of expectations of

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Speaker 2: an interest rate cut in the US. This week. The

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Speaker 2: real news out of markets came from Wall Street. It

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Speaker 2: hit a new record yesterday. Google parent Alphabet continued its rally.

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Speaker 2: The company's market value topped three trillion US dollars for

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Speaker 2: the first time since September two, which was the day

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Speaker 2: before the company got a favorable court ruling in a

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Speaker 2: closely watched anti competitive case the day before. Take note,

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Speaker 2: Alphabet shares have risen nineteen percent, now three trillion dollars,

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Speaker 2: fourth largest stock on the ASEX, and Vidio's number one

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Speaker 2: at four point three trillion, Microsoft's at three point eight trillion,

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Speaker 2: apples at three point five trillion all US d dollars. There.

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Speaker 2: Put all that together, well, actually we'll put all that

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Speaker 2: together in the moment, but by comparison, the whole Australian

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Speaker 2: market is worth about two point one trillion US, half

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Speaker 2: the size of just Nvidia. So the size of these

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Speaker 2: companies are quite incredible, which is an excellent segue Michael,

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Speaker 2: I know I'm going here into business by numbers.

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Speaker 1: Oh, this is the top three numbers to know for

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Speaker 1: the week, brought to you by zero zero dot com

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Speaker 1: slash au and I have a feeling that one of

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Speaker 1: those could end up being.

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Speaker 2: Make it number one.

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Speaker 1: Let's do it. It is the it's the biggest number

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Speaker 1: of all right, what is it? Fourteen point six trillion

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Speaker 1: US dollar?

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Speaker 2: Sean, Yes, the combined value of Nvidia, Microsoft, Apple and Alphabet.

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Speaker 2: Now I'm doing the maths in the head my head here,

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Speaker 2: but it's like six or seven. That value of fine

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Speaker 2: two point six trillion is six or seven times the

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Speaker 2: value of all of the Australian sheer market combined. Quite incredible.

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Speaker 1: That is a staggering figure. That's just next level. The

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Speaker 1: next figure not quite as significant, but still very meaningful

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Speaker 1: for Australian households three hundred and fifteen thousand dollars.

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Speaker 2: That is the median nominal gain on house prices in

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Speaker 2: Australia when you're buying and selling. Will come to that

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Speaker 2: one in a moment.

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Speaker 1: And finally, what's the last one, Sean? Is it by

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Speaker 1: any chance relating to the Aussie dollar?

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Speaker 2: Ah? Absolutely close to my heart at the moment sixty

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Speaker 2: six points seventy five yeers since the new ten month

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Speaker 2: high for the Aussie against the Greenback.

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Speaker 1: All right, there we go. That is Business by Numbers.

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Speaker 1: The top three numbers to know for the week, brought

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Speaker 1: to you by zero Sean will take a quick break

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Speaker 1: back in a moment with the rest of the day's

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Speaker 1: business news Sean. The federal government has provided social media

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Speaker 1: giants more detail of what it expects from them when

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Speaker 1: the band for under sixteen year old kicks in in December.

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Speaker 2: The government says the social media giants need to have

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Speaker 2: systems in place that detect underage users, stop them by

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Speaker 2: passing the ban, and they also need a system that

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Speaker 2: makes it easier for wrongfully deactivated users to appeal. Now,

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Speaker 2: Canber isn't telling the tech companies how they should comply.

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Speaker 2: That's sort of leaving it up to them. They're just

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Speaker 2: saying you must comply. Communications Minister Anika Wells and e

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Speaker 2: Safety Commissioner Julie Inman Grant issued the directions to YouTube, TikTok, Snapchat,

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Speaker 2: Instagram and Facebook yesterday. Under the laws, which will come

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Speaker 2: into effect on December ten, children under the age of

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Speaker 2: sixteen will be forbidden from having accounts on the platforms.

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Speaker 2: If platforms are deemed to have failed to reasonably try

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Speaker 2: to keep kids off it, they could face fines up

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Speaker 2: to about fifty million dollars. Just under that. They'll be

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Speaker 2: expected to be able to detect and deactivate underage accounts,

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Speaker 2: prevent reregistration or circumvention, and, as I mentioned before, to

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Speaker 2: provide a way for users to request review of the ban.

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Speaker 2: Social media companies obviously dang like this. They want it

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Speaker 2: to happen, you know, at the app store level. The

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Speaker 2: government's pushing ahead with it.

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Speaker 1: Okay. Drug Giant CSL will make an initial upfront payment

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Speaker 1: of one hundred and seventeen million US dollars to a

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Speaker 1: US company to fund a clinical trial of a new

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Speaker 1: bleeding disorder treatment.

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Speaker 2: The trial's being run by a group called varm x

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Speaker 2: vaarm x, and the trials a Phase three clinical trials,

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Speaker 2: so they're a fair way down the path. Under the

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Speaker 2: DLCSL gets an exclusive option to buy the private company.

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Speaker 2: The announcement wasn't well received. A CLSAL share price was

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Speaker 2: down three percent yesterday. It's off twenty five percent since

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Speaker 2: its earnings report a month ago or thereabouts. What's interesting.

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Speaker 2: It's all sort of the first investment announced since the

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Speaker 2: company said it would cut three thousand jobs and scale

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Speaker 2: back its global R and D presence. It's a bit

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Speaker 2: of surprise that it's all of a sudden spending in

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Speaker 2: that area. If it exercises the option to buy the company,

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Speaker 2: cees he will invest a further three hundred and eighty

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Speaker 2: eight million US up to the commercial launch of Armix's treatment,

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Speaker 2: which is expected at the end of this decade.

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Speaker 1: At the end of this decade, isn't that extraordinary when

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Speaker 1: you think about the length of time that a lot

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Speaker 1: of these treatments and things take. These are not quick

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Speaker 1: things to develop, are they. They are long, long processes,

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Speaker 1: particularly going through the clinical trials.

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Speaker 2: And this is phase three clinical trials, so they've already

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Speaker 2: been through two phases. This is sort of if it

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Speaker 2: gets through this, it's quite Phase four is more or

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Speaker 2: less a rubber stamp. But you're right, it's just so

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Speaker 2: many years to come to market.

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Speaker 1: Indeed, now back home, the federal government will lower annual

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Speaker 1: fees charged to offshore wind developers in an attempt to

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Speaker 1: reverse the slowdown of investment in the sector and maybe

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Speaker 1: sean generate a bit of excitement.

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Speaker 2: Generate a bit of hot air or something like that.

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Speaker 2: You know, been sort of in Europe and we're off

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Speaker 2: the coast of Norway and you know, you're cruising along

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Speaker 2: it and you come across literally hundreds, possibly thousands of

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Speaker 2: windmills in the middle of the Asian One of the

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Speaker 2: most extraordinary things I've ever seen.

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Speaker 1: Did you take any photos?

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Speaker 2: Actually it was quite foggy. I'll have a look. I'll

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Speaker 2: send one through if there is a photo.

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Speaker 1: Yeah, definitely, Okay, all right, now, that's cool.

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Speaker 2: Offshore wind's not a big part in the government's plan

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Speaker 2: to generate eighty two percent of the country's electricity from

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Speaker 2: new renewable energy sources by twenty thirty. It might become bigger.

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Speaker 2: We'll find that out in the next few days. What's

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Speaker 2: happening in that sectorm So there's been media reports that

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Speaker 2: companies are pulling back from it. For example, Origin Energy

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Speaker 2: back to Navigator North put a proposed eight billion dollar

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Speaker 2: Victorian offshore wind farm on ice. The government is trying

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Speaker 2: to provide some incentives, you know, waiver annual levies, things

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Speaker 2: like that to actually encourage this offshore wind farming. Not

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Speaker 2: quite sustainable at the moment, solars seems to be a

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Speaker 2: better option, but we need wind as well as solo,

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Speaker 2: So that's what this is about.

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Speaker 1: Now. We mentioned this one earlier when we talked about

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Speaker 1: the business by numbers for the week sean. But more

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Speaker 1: than ninety percent of home sales make money for the seller,

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Speaker 1: and the amount of nominal profit the dollars in the

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Speaker 1: pocket has reached a record level exactly. The median nominal

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Speaker 1: gain from resales rose to a record three hundred and

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Speaker 1: fifteen thousand dollars during the Dune quarter. According to Totalities

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Speaker 1: Q two Pain and Gain report, the median loss fell

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Speaker 1: to forty two thousand dollars. Basically, nine out of twenty

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Speaker 1: people that sell a house at the moment are making

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Speaker 1: money from it. The decade average is about eighteen out

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Speaker 1: of twenty ninety one point five percent. It's at about

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Speaker 1: ninety now, it's nineteen out of twenty people are making money.

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Speaker 1: Hottest market market loeh, the hottest market Michael. Along the

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Speaker 1: south coast of New South Wales, people are making a

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Speaker 1: gross profit of seven hundred and fifty eight thousand dollars.

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Speaker 1: Risbon the most profitable of the capital cities, but New

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Speaker 1: South Wales dominates the list of most profitable markets. It

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Speaker 1: had six of the top ten most profitable local government

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Speaker 1: areas in the June quarter.

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Speaker 2: A royal regional Australia outperforms the capital cities in terms

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Speaker 2: of profitability. That's been a trend for about the last

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Speaker 2: five years, really since covid okay.

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Speaker 1: One last one before we get to international news, this

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Speaker 1: is a quick State story. Victorian Premier to Cinder Allen

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Speaker 1: has left the door open to securing Chinese investment in

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Speaker 1: the thirty four point five billion dollar suburban rail loop,

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Speaker 1: suggesting that she'll be making an announcement in the coming days.

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Speaker 2: In press conference in Beijing yesterday, is Allen on three

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Speaker 2: occasions declined to rule out taking Chinese investor money for

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Speaker 2: the suburban rail loop. Now victorious desperate to attract private

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Speaker 2: investment into the rail project. Only a fraction of the

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Speaker 2: total cost is budget For any time a politician is

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Speaker 2: talking about taking money from China, particularly when they're from Victoria, Michael,

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Speaker 2: it seems to make the news.

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Speaker 1: Certainly does. Turning to international news now, and US President

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Speaker 1: Donald Trump has filed a defamation lawsuit against The New

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Speaker 1: York Times, just a small one. He's seeking fifteen billion

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Speaker 1: US dollars in damages from the media organization that he's

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Speaker 1: accused of being a mouthpiece for the Democratic Party.

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Speaker 2: Or as Trump accused The New York Times of spreading

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Speaker 2: false and defamatory content about the president. They accused the

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Speaker 2: paper of being a full throated mouthpiece. That's the quote

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Speaker 2: of the Democratic Party, and I keep quoting a leading

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Speaker 2: and unapologetic purveyor of false hoods against President Trump end quote.

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Speaker 2: The defamation lawsuit against the NYT is the fourth multi

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Speaker 2: billion dollar lawsuit Trump has filed against major US news

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Speaker 2: organizations since March twenty twenty four. According to the ft,

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Speaker 2: both ABC News and CBS News settled separate lawsuits by

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Speaker 2: paying fifteen million dollars to Trump's future presidential library and

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Speaker 2: money for legal fees. In July, Trump said the Wall

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Speaker 2: Street Journal for ten billion dollars over publishing an article

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Speaker 2: about a lud birthday card he allegedly sent to Jeffrey Epstein.

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Speaker 2: I'm not sure what this does for the freedom of

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Speaker 2: the press, Michael.

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Speaker 1: No, now one last one, and it does also relate

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Speaker 1: to the president. Donald Trump said he would speak with

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Speaker 1: Chinese leader Jijiping on Friday, as US and Chinese officials

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Speaker 1: reached a framework deal on keeping the TikTok app running

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Speaker 1: in the United States.

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Speaker 2: It would be the first direct engagement between Trump and

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Speaker 2: She since June. In a post on social media, Trump said,

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Speaker 2: I quit. I will be speaking to President g on Friday.

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Speaker 2: The relationship remains a very strong one. Exclamation mark, exclamation mark,

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Speaker 2: exclamation mark. Referring to a meeting of top officials between

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Speaker 2: the two nations in Madrid. Trump also said that session

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Speaker 2: has gone very well. Capps of course. US Treasury Secretary

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Speaker 2: Scott Bessett, who led the talks in Spain, told reporters

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Speaker 2: that are framework to keep deep by dancers TikTok app

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Speaker 2: running in the US had been reached.

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Speaker 1: Okay, up next, Shawn, As we're in grad Q and A,

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Speaker 1: and today we're speaking with mcgrar nickel, Matt Grant and

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Speaker 1: Matt Fian from mcgrar nickel. It is all about business risk.

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Speaker 1: It is all kinds of risk, cyber risk, supply chain risk,

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Speaker 1: geopolitical risk and the things that business leaders Australian business

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Speaker 1: leaders have identified as the biggest challenges for the year ahead.

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Speaker 1: It is a great chat, isn't it.

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Speaker 2: It sure is talk to the two Mats. Matt Feene

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Speaker 2: particularly is a bit of a regular on the show.

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Speaker 2: We do talk these are things very very important for

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Speaker 2: businesses to think about, particularly as they grow. I mean

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Speaker 2: it's important for you know, two three person business lettle

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Speaker 2: out of ten fifteen, and then as they grow bigger

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Speaker 2: and bigger, these risks become real and they range across

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Speaker 2: the spectrum, and we talk to the Mats about that.

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Speaker 2: Mcgrar nickel a great supporter of our podcast and they've

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Speaker 2: got some really interesting things to say about it.

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Speaker 1: Yeah, indeed, Okay, that is coming up next in the

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Speaker 1: Fear and Greed playlist on new podcast platform or at

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Speaker 1: Fearangreed dot com. Today you which is where you sign

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Speaker 1: up for the free daily newsletter. Thank you Sean, Thank

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Speaker 1: you Michael. It is Wednesday, the seventeenth of September twenty

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

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

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

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Speaker 1: a great day.