1 00:00:06,200 --> 00:00:09,200 Speaker 1: Welcome to Fear and Greed business news you can use today. 2 00:00:09,280 --> 00:00:12,000 Speaker 1: The Australian economy shared jobs last month, but the labor 3 00:00:12,039 --> 00:00:15,560 Speaker 1: market remains in pretty good shape. The nation's top CEOs 4 00:00:15,600 --> 00:00:18,200 Speaker 1: are earning about fifty five times the salary of the 5 00:00:18,239 --> 00:00:22,279 Speaker 1: average payper workers, and Australian universities fall down. The ranking 6 00:00:22,400 --> 00:00:27,240 Speaker 1: of the top educational institutions plus super returns set to 7 00:00:27,240 --> 00:00:31,200 Speaker 1: top nine percent this financial year. And Donald Trump muls 8 00:00:31,240 --> 00:00:34,479 Speaker 1: an attack on Iran. It is Friday, the twentieth of 9 00:00:34,600 --> 00:00:37,680 Speaker 1: June twenty twenty five. I'm Michael Thompson and good morning 10 00:00:37,760 --> 00:00:38,479 Speaker 1: Sean Aylmer. 11 00:00:38,640 --> 00:00:40,120 Speaker 2: Good morning Michael. 12 00:00:40,080 --> 00:00:42,519 Speaker 1: Sean great newsletter today. Have you noticed that we've got 13 00:00:42,520 --> 00:00:45,279 Speaker 1: a little kind of little moving graphic in there? 14 00:00:45,320 --> 00:00:48,880 Speaker 2: Now, it's very Harry potterish, isn't it. If you haven't 15 00:00:48,920 --> 00:00:51,640 Speaker 2: seen it, sign up at Fearangreed dot com or from 16 00:00:51,680 --> 00:00:53,760 Speaker 2: the show notes here and you will see our newsletter, 17 00:00:53,760 --> 00:00:55,440 Speaker 2: which has got plenty of great stories in it. Of 18 00:00:55,440 --> 00:00:57,840 Speaker 2: course helps you when you get to work. But what 19 00:00:57,920 --> 00:01:02,280 Speaker 2: Michael's talking about, it's like a moving image. Yeah, a 20 00:01:02,320 --> 00:01:05,000 Speaker 2: guest interviewee for the day. 21 00:01:04,840 --> 00:01:07,480 Speaker 1: Indeed, and I realized that in describing it as like 22 00:01:07,840 --> 00:01:09,679 Speaker 1: it looks like a moving image. It makes us both 23 00:01:09,680 --> 00:01:12,320 Speaker 1: sound like we're about one hundred years old. Jo the 24 00:01:12,360 --> 00:01:15,520 Speaker 1: miracles of technology side up. Yeah, as Sean mentioned fearing 25 00:01:15,520 --> 00:01:17,800 Speaker 1: Green dot Com today you and also I'll put a 26 00:01:17,800 --> 00:01:19,119 Speaker 1: link in the show notes and you'll get it every 27 00:01:19,120 --> 00:01:22,560 Speaker 1: morning by six am. Well worth a read Sean on 28 00:01:22,640 --> 00:01:24,600 Speaker 1: with the show. The main story this morning. The Australian 29 00:01:24,640 --> 00:01:27,760 Speaker 1: economy shed workers last month, adding to the argument really 30 00:01:27,800 --> 00:01:30,920 Speaker 1: for lower interest rates. Even though the unemployment rate remains 31 00:01:31,160 --> 00:01:32,399 Speaker 1: at four point one percent. 32 00:01:32,680 --> 00:01:36,360 Speaker 2: There were two thy five hundred fewer workers last month, 33 00:01:36,520 --> 00:01:39,000 Speaker 2: though that did follow a boom in April when eighty 34 00:01:39,040 --> 00:01:42,640 Speaker 2: eight thousand new jobs were created. The Australian Bureau Statistics 35 00:01:42,720 --> 00:01:46,160 Speaker 2: data released yesterday shows a big drop in part time jobs, 36 00:01:46,200 --> 00:01:49,040 Speaker 2: almost but not quite, offset by a rise in full 37 00:01:49,040 --> 00:01:54,040 Speaker 2: time employment, meaning ours work actually rose. The consensus among 38 00:01:54,080 --> 00:01:57,240 Speaker 2: economists is that the labor market is still strong now. 39 00:01:57,240 --> 00:02:01,560 Speaker 2: The unemployment rate has been stable four point one percent 40 00:02:01,640 --> 00:02:04,800 Speaker 2: for five months now. The overall participation rate remains at 41 00:02:04,800 --> 00:02:07,760 Speaker 2: a near record level, while the female participation rate hit 42 00:02:07,800 --> 00:02:11,640 Speaker 2: a new high sixty nine point nine percent. Forward indicators 43 00:02:11,639 --> 00:02:14,920 Speaker 2: such as employment surveys job ads suggest the labor market 44 00:02:15,280 --> 00:02:18,480 Speaker 2: is weakening and there's limited wage inflation in the system. 45 00:02:18,560 --> 00:02:21,280 Speaker 2: That's the good news. What I think is really interesting 46 00:02:21,320 --> 00:02:25,360 Speaker 2: from this data yesterday the non market sectors of the economy. 47 00:02:25,400 --> 00:02:28,880 Speaker 2: So we're talking about government stuff, health, education, public service, 48 00:02:29,320 --> 00:02:33,560 Speaker 2: predominantly government funded. They've accounted for seventy one percent of 49 00:02:33,600 --> 00:02:36,600 Speaker 2: all jobs growth in the twelve months to March, according 50 00:02:36,639 --> 00:02:40,640 Speaker 2: to the Bureau, So the big majority has come from 51 00:02:40,760 --> 00:02:46,200 Speaker 2: government paid jobs. Hiring across that segment has slowed. Annual 52 00:02:46,280 --> 00:02:49,560 Speaker 2: jobs growth in that serving segment has gone from about 53 00:02:49,560 --> 00:02:53,440 Speaker 2: eight percent to under five percent. Growth in the market sector. 54 00:02:53,800 --> 00:02:56,560 Speaker 2: The rest has been really weak. It's less than a 55 00:02:56,600 --> 00:03:01,040 Speaker 2: percent in the twelve months to March. That demonstrates just 56 00:03:01,560 --> 00:03:04,160 Speaker 2: how much of this job's growth and the strength and 57 00:03:04,200 --> 00:03:06,959 Speaker 2: the job's market is because the government has been putting 58 00:03:06,960 --> 00:03:08,560 Speaker 2: on people. That's stopping. 59 00:03:08,600 --> 00:03:12,400 Speaker 1: Now, Okay, what does it mean though? Then what's the 60 00:03:12,440 --> 00:03:14,560 Speaker 1: Reserve Bank going to make of this? What's it mean 61 00:03:14,600 --> 00:03:15,400 Speaker 1: for interest rates? 62 00:03:15,480 --> 00:03:18,320 Speaker 2: Well, markets have still priced in an eighty percent chance 63 00:03:18,360 --> 00:03:21,800 Speaker 2: of a red cut next month. The economy is struggling 64 00:03:21,800 --> 00:03:23,360 Speaker 2: that out about that. It's growing at a less than 65 00:03:23,400 --> 00:03:26,480 Speaker 2: two percent pace. There are plenty of external threats from 66 00:03:26,600 --> 00:03:30,440 Speaker 2: the Middle East through to Europe to Donald Trump's tarifs. 67 00:03:30,760 --> 00:03:33,639 Speaker 2: The conundrum for the Reserve Bank cracking word that. One 68 00:03:33,680 --> 00:03:37,760 Speaker 2: conundrum is that a strong labor market normally pushes wage 69 00:03:37,760 --> 00:03:40,760 Speaker 2: inflation into the economy, and normally it occurs when the 70 00:03:40,800 --> 00:03:44,680 Speaker 2: economy is growing much faster than it is now. The 71 00:03:44,680 --> 00:03:48,120 Speaker 2: fear is if you cut raids, you will actually put 72 00:03:48,400 --> 00:03:52,560 Speaker 2: a fire under wages, which pushes up inflation. So Michelle 73 00:03:52,560 --> 00:03:54,440 Speaker 2: Bullock and the board have to weigh up all of 74 00:03:54,480 --> 00:03:58,160 Speaker 2: that against the fact that there's weak economic growth and 75 00:03:58,240 --> 00:04:01,280 Speaker 2: decide what to do on the economy. Of the consensus 76 00:04:01,360 --> 00:04:02,880 Speaker 2: views in the next couple of months we will get 77 00:04:02,880 --> 00:04:03,360 Speaker 2: a rate cut. 78 00:04:03,440 --> 00:04:06,360 Speaker 1: Okay. So with this, with the job started coming out yesterday, 79 00:04:06,760 --> 00:04:10,320 Speaker 1: did it have any impact on the local market yesterday? 80 00:04:10,320 --> 00:04:13,360 Speaker 2: Sean Oh, Michael, I wish you hadn't asked me that. Yes, yes, yes, 81 00:04:13,400 --> 00:04:16,680 Speaker 2: it was a very exciting day. And the ax SMPAX 82 00:04:16,680 --> 00:04:20,479 Speaker 2: two hundred finished flat. Well, it was down on zero 83 00:04:20,480 --> 00:04:23,719 Speaker 2: point one percent to eighty five hundred and twenty four points. 84 00:04:23,760 --> 00:04:25,960 Speaker 2: Really has been trading in a narrow range for the 85 00:04:26,040 --> 00:04:28,679 Speaker 2: last few sessions. I suppose to highlight yesterday was Commonwealth 86 00:04:28,720 --> 00:04:31,279 Speaker 2: Bank hit a new intra day record of one hundred 87 00:04:31,320 --> 00:04:33,400 Speaker 2: and eighty three dollars and thirty one cents this year. 88 00:04:33,800 --> 00:04:36,680 Speaker 2: Quite phenomenal. The big miners once again went backwards as 89 00:04:36,720 --> 00:04:39,280 Speaker 2: the price of iron or fell further. Goal prices dropped 90 00:04:39,640 --> 00:04:41,839 Speaker 2: took the gold miners with it. A bit of corporate 91 00:04:41,880 --> 00:04:44,200 Speaker 2: news around Rare Tindo has agreed to payout to settle 92 00:04:44,240 --> 00:04:46,479 Speaker 2: a case where it was accused of defrauding investors by 93 00:04:46,560 --> 00:04:49,960 Speaker 2: withholding information about cost blowouts and delays at its giant 94 00:04:49,960 --> 00:04:54,520 Speaker 2: copper project in Mongolia. And KMD Brands, owner of Katmandu, 95 00:04:54,960 --> 00:04:57,800 Speaker 2: has downgraded his profit outlook for this financial year, sending 96 00:04:57,800 --> 00:05:00,480 Speaker 2: its share price to a record low. Of the reason 97 00:05:00,480 --> 00:05:03,320 Speaker 2: people aren't buying paffac jackets as much, although they did 98 00:05:03,400 --> 00:05:06,440 Speaker 2: say in the last couple of weeks this cold weather 99 00:05:06,480 --> 00:05:09,520 Speaker 2: along the East coast has actually pushed the sale of 100 00:05:09,560 --> 00:05:12,400 Speaker 2: pafac jackets higher again. Okay, but they just seem to 101 00:05:12,400 --> 00:05:14,040 Speaker 2: be going out of fashion a little bit. How can 102 00:05:14,040 --> 00:05:15,239 Speaker 2: the PAFA jacket go out of fashion? 103 00:05:15,279 --> 00:05:17,480 Speaker 1: I don't know whether it's that I reckon. I bought 104 00:05:17,480 --> 00:05:21,440 Speaker 1: a Catman do jacket ten years ago and I'm still 105 00:05:21,480 --> 00:05:24,760 Speaker 1: wearing it. Yeah, maybe the quality is actually just just 106 00:05:24,760 --> 00:05:25,680 Speaker 1: just doo darn good. 107 00:05:25,960 --> 00:05:29,640 Speaker 2: So I have exactly the same story, and I would 108 00:05:29,680 --> 00:05:31,800 Speaker 2: like to buy a new one, but I'm tight as 109 00:05:31,880 --> 00:05:34,040 Speaker 2: you can't justify yeah, I can't justify it. 110 00:05:34,120 --> 00:05:36,960 Speaker 1: Also, it shows that neither of us really pay much 111 00:05:36,960 --> 00:05:39,840 Speaker 1: attention to trends or fashion. If we speak of might 112 00:05:39,880 --> 00:05:43,039 Speaker 1: be wearing what we've been wearing for ten years. Sean, Wow, 113 00:05:43,120 --> 00:05:46,400 Speaker 1: waiter just hanging me out to dry. There you abandoned me. 114 00:05:47,040 --> 00:05:48,800 Speaker 1: What about global markets? What's happening? 115 00:05:48,880 --> 00:05:50,719 Speaker 2: Well, the big news over the past forty eight hours 116 00:05:50,760 --> 00:05:53,040 Speaker 2: or so it was a Federal Reserve meeting. It's cut 117 00:05:53,080 --> 00:05:55,719 Speaker 2: its outlook for the US economy, though it's unclear if 118 00:05:55,920 --> 00:05:58,400 Speaker 2: the world's most important central bank will cut interest rates 119 00:05:58,440 --> 00:06:02,159 Speaker 2: further this year. Feder Fish also pushed higher their forecast 120 00:06:02,160 --> 00:06:05,640 Speaker 2: for inflation. The Fed Open Market Committee held rate steady 121 00:06:05,680 --> 00:06:07,960 Speaker 2: for the fourth meeting in a row, notwithstanding Donald Trump 122 00:06:08,240 --> 00:06:10,120 Speaker 2: had come out and called for a full one percentage 123 00:06:10,120 --> 00:06:11,960 Speaker 2: point cut that was never going to happen. In fact, 124 00:06:12,120 --> 00:06:13,240 Speaker 2: nothing happened. 125 00:06:13,160 --> 00:06:15,840 Speaker 1: Okay, Sean, Before we go to a break, a very 126 00:06:15,920 --> 00:06:18,800 Speaker 1: quick reminder of the fact that we have a we 127 00:06:18,839 --> 00:06:21,440 Speaker 1: are running a survey, we want to know more about 128 00:06:21,640 --> 00:06:25,240 Speaker 1: what you like about fear and greed, what you think 129 00:06:25,360 --> 00:06:28,640 Speaker 1: we could improve on the areas that you'd like to 130 00:06:28,680 --> 00:06:30,880 Speaker 1: hear more about things like that. If you'd like to 131 00:06:30,920 --> 00:06:34,200 Speaker 1: take part, we're partnering with FONTO, a research agency for this. 132 00:06:34,600 --> 00:06:36,600 Speaker 1: I put a link in today's show notes. You can 133 00:06:36,640 --> 00:06:38,600 Speaker 1: just click on it there, or you can head to 134 00:06:38,640 --> 00:06:40,760 Speaker 1: the newsletter. It's at the bottom of the newsletter as well, 135 00:06:40,839 --> 00:06:42,520 Speaker 1: and if you do take part before the end of 136 00:06:42,520 --> 00:06:45,480 Speaker 1: the month, you may be in the running to win 137 00:06:45,560 --> 00:06:49,400 Speaker 1: a three thousand dollars Luxury Escapes voucher, which is a 138 00:06:49,400 --> 00:06:52,800 Speaker 1: pretty incredible prize. Sean quick break. We'll be back in 139 00:06:52,839 --> 00:07:00,920 Speaker 1: a moment with the rest of the day's business news. 140 00:07:01,600 --> 00:07:01,880 Speaker 2: Shawn. 141 00:07:01,920 --> 00:07:05,560 Speaker 1: The nation's top CEOs earned about fifty five times the 142 00:07:05,640 --> 00:07:08,360 Speaker 1: pay of an average worker. And while it's getting cheaper 143 00:07:08,400 --> 00:07:11,360 Speaker 1: to dump the boss of an ASX listed company, the 144 00:07:11,400 --> 00:07:14,480 Speaker 1: heads of smaller companies are catching up to the big caps, 145 00:07:14,520 --> 00:07:16,960 Speaker 1: at least in terms of remuneration. 146 00:07:17,520 --> 00:07:21,520 Speaker 2: Remuneration hard word is pay, Yeah, pay. That's some of 147 00:07:21,520 --> 00:07:24,520 Speaker 2: the key findings from industry super research group the Australian 148 00:07:24,560 --> 00:07:28,600 Speaker 2: Council of Superannuation Investors. They've released their ann You'll look 149 00:07:28,640 --> 00:07:32,320 Speaker 2: at CEO pay realized pay, think of that as take 150 00:07:32,360 --> 00:07:35,320 Speaker 2: home pay. Over the last decade has flattened. Last year 151 00:07:35,320 --> 00:07:38,000 Speaker 2: it was four point one five million dollars. It was 152 00:07:38,280 --> 00:07:40,960 Speaker 2: only well, it was four million dollars ten years ago, 153 00:07:41,000 --> 00:07:44,560 Speaker 2: so it's actually only risen from four point zero to 154 00:07:44,680 --> 00:07:47,880 Speaker 2: four point one five over that decade. It's now fifty 155 00:07:47,960 --> 00:07:51,520 Speaker 2: five times the average pay of a worker in Australia, 156 00:07:51,600 --> 00:07:54,960 Speaker 2: down from seventy seven times a decade ago. AX one 157 00:07:55,040 --> 00:07:58,400 Speaker 2: hundred CEO termination payments are at their lowest level in 158 00:07:58,480 --> 00:08:02,160 Speaker 2: fifteen years, dropping to eight point four million dollars in 159 00:08:02,240 --> 00:08:05,080 Speaker 2: the financial year twenty four, down from thirty three point 160 00:08:05,120 --> 00:08:08,760 Speaker 2: five million. Huge jump. Mind your termination pay eight point 161 00:08:08,760 --> 00:08:12,400 Speaker 2: four million dollars is still pretty significant. You mentioned that 162 00:08:12,520 --> 00:08:15,600 Speaker 2: smaller company CEO pays increasing, with the highest paid Australian 163 00:08:15,600 --> 00:08:19,120 Speaker 2: based CEO coming from outside the ASEX one hundred global 164 00:08:19,200 --> 00:08:23,280 Speaker 2: jewelry chain Leavisa. It's CEO he's left now left earlier 165 00:08:23,320 --> 00:08:26,880 Speaker 2: this year, but for that fiscal year twenty four, Victor 166 00:08:26,960 --> 00:08:31,000 Speaker 2: Herrero is his name. He received thirty nine zero point 167 00:08:31,040 --> 00:08:34,040 Speaker 2: five five million dollars. It's a lot of jewelry that's 168 00:08:34,120 --> 00:08:38,200 Speaker 2: a lot of fashion jewelry. US based CEOs feature heavily 169 00:08:38,280 --> 00:08:40,720 Speaker 2: in the top twenty highest paid CEOs on a realized 170 00:08:40,720 --> 00:08:43,599 Speaker 2: paid basis. Victor Herrero actually thirty nine point five to 171 00:08:43,640 --> 00:08:46,640 Speaker 2: five was second. Number one was News Corporation CEO Robert Thompson. 172 00:08:46,720 --> 00:08:48,920 Speaker 2: He lives in New York, New York based. His pay 173 00:08:49,000 --> 00:08:53,360 Speaker 2: was nearly forty two million dollars behind Thompson and Herrero. Mcquarie, Shamara, 174 00:08:53,440 --> 00:08:57,880 Speaker 2: Wick raminayaka Goodman Groups, Greg Goodman and res Med's Mick 175 00:08:57,960 --> 00:09:00,800 Speaker 2: Farrell one worth note and come off Bank Matt Common 176 00:09:01,520 --> 00:09:04,520 Speaker 2: comes in at eighteen with a realized pay of nine 177 00:09:04,520 --> 00:09:07,439 Speaker 2: million dollars. I don't think he's over doing it. Another 178 00:09:07,720 --> 00:09:11,320 Speaker 2: Mineral Resources managing director Chris Ellison. His take came pay 179 00:09:11,440 --> 00:09:15,280 Speaker 2: was fourteen point seven million dollars, despite the share price 180 00:09:15,280 --> 00:09:17,920 Speaker 2: of the Lithian minor tumbling over governance concerns. 181 00:09:18,040 --> 00:09:20,400 Speaker 1: As Shauna after the show, you're speaking with Ed John 182 00:09:20,640 --> 00:09:24,120 Speaker 1: from AXI, the Australian Council of Superannuation Investors with a 183 00:09:24,160 --> 00:09:26,320 Speaker 1: bit of a deep dive into some of these numbers. 184 00:09:26,040 --> 00:09:28,880 Speaker 2: Exactly right and whether they're too high or night. The 185 00:09:28,960 --> 00:09:32,520 Speaker 2: trends that have occurred over the past decade. Ed is 186 00:09:32,559 --> 00:09:35,319 Speaker 2: it diplomat? From it? I was going to say to casting, have. 187 00:09:35,320 --> 00:09:38,640 Speaker 1: You ever heard someone more more diplomatic? And he answers 188 00:09:38,640 --> 00:09:39,400 Speaker 1: all of your questions. 189 00:09:39,440 --> 00:09:42,400 Speaker 2: Buddy doesn't avoid anything, Yep, but he does when the 190 00:09:42,520 --> 00:09:44,199 Speaker 2: tricky ones, he knows how to answer them. 191 00:09:44,200 --> 00:09:46,720 Speaker 1: Oh yeah, it's a great, great chat coming up after 192 00:09:46,720 --> 00:09:50,680 Speaker 1: the show. Seawan superannuation funds are closing in on another 193 00:09:50,760 --> 00:09:53,360 Speaker 1: strong financial year, with the Median Growth Fund set to 194 00:09:53,400 --> 00:09:54,600 Speaker 1: return around nine percent. 195 00:09:55,120 --> 00:09:57,319 Speaker 2: That would make three years in a row of outsized 196 00:09:57,360 --> 00:10:00,280 Speaker 2: returns according to chant West and super funds and now 197 00:10:00,280 --> 00:10:04,280 Speaker 2: almost guaranteed to record a fourteenth positive year in sixteen. 198 00:10:04,920 --> 00:10:08,160 Speaker 2: These numbers we're talking about, they're the Median Growth fund 199 00:10:08,160 --> 00:10:11,040 Speaker 2: that's sixty one to eighty percent in growth asset seems 200 00:10:11,120 --> 00:10:14,160 Speaker 2: like equities, et cetera. This financial year's result is helped 201 00:10:14,200 --> 00:10:17,280 Speaker 2: by surgeon equity markets in May that continued in to 202 00:10:17,559 --> 00:10:20,520 Speaker 2: this month. The strong Gazi dollars also contributed to the outcome. 203 00:10:20,880 --> 00:10:24,880 Speaker 2: Since the introduction of compulsory super Michael, the Median Growth 204 00:10:25,080 --> 00:10:29,320 Speaker 2: Fund has returned eight percent per annum inflation's two point 205 00:10:29,440 --> 00:10:33,120 Speaker 2: seven percent, so the difference five point three percent is 206 00:10:33,240 --> 00:10:37,080 Speaker 2: actually the real return on super that is quite spectacular 207 00:10:37,800 --> 00:10:41,000 Speaker 2: and the target's supposed to be well. Generally, super funds 208 00:10:41,000 --> 00:10:42,680 Speaker 2: have a target of about three and a half percent. 209 00:10:42,679 --> 00:10:45,720 Speaker 2: Above this is five point three percent. So Australian super 210 00:10:45,720 --> 00:10:49,720 Speaker 2: funds as a whole have done very very well. The 211 00:10:49,720 --> 00:10:52,560 Speaker 2: moral of the story they according to chant West, particularly 212 00:10:52,600 --> 00:10:55,240 Speaker 2: with all this uncertainty going in and markets going up 213 00:10:55,240 --> 00:10:59,520 Speaker 2: and down. Stay patient, don't get distracted by short term noise. 214 00:11:00,000 --> 00:11:01,600 Speaker 1: I've heard that a few times now, haven't we. We 215 00:11:01,679 --> 00:11:04,680 Speaker 1: have every second investor we talk actually pretty much every 216 00:11:04,679 --> 00:11:09,320 Speaker 1: investor we talk to says that sean. Australia's universities have 217 00:11:09,480 --> 00:11:13,280 Speaker 1: performed poorly in the latest rankings of global unis, with 218 00:11:13,400 --> 00:11:18,080 Speaker 1: the highest ranked University of Melbourne dropping seven places down 219 00:11:18,080 --> 00:11:19,040 Speaker 1: to number nineteen. 220 00:11:19,320 --> 00:11:22,800 Speaker 2: That's according to the QS World University Rankings. Number two 221 00:11:22,840 --> 00:11:25,720 Speaker 2: in Australia now is University of New South Wales went 222 00:11:25,760 --> 00:11:29,000 Speaker 2: from nineteen to twenty. University of Sydney went from eighteen 223 00:11:29,040 --> 00:11:31,440 Speaker 2: to twenty five, so it's now number three. The rankings 224 00:11:31,480 --> 00:11:35,040 Speaker 2: consider millions of academic papers and commentary from one hundred 225 00:11:35,040 --> 00:11:39,160 Speaker 2: and twenty seven thousand academics across fifteen hundred universities in 226 00:11:39,240 --> 00:11:42,319 Speaker 2: more than one hundred countries. I'd call that fairly comprehensive. 227 00:11:42,840 --> 00:11:46,160 Speaker 2: Over All, twenty five of Australia's thirty six ranked university 228 00:11:46,200 --> 00:11:48,960 Speaker 2: dropped places, while seven moved up. The top ranked universities 229 00:11:49,000 --> 00:11:52,319 Speaker 2: dominated by the US and UK MIT Massachusetts Institute of 230 00:11:52,320 --> 00:11:56,240 Speaker 2: Technology number one, Imperial College London number two, Stanford in 231 00:11:56,280 --> 00:12:00,880 Speaker 2: the US Oxford and the UK Harvard and then Cambridge. 232 00:12:00,880 --> 00:12:03,600 Speaker 1: One hundred and twenty seven thousand academics. Can you that's 233 00:12:03,679 --> 00:12:04,840 Speaker 1: one hefty spreadsheet? 234 00:12:06,480 --> 00:12:07,800 Speaker 2: How much fun would you get in with that? Get 235 00:12:07,880 --> 00:12:09,760 Speaker 2: one hundred and twenty seven thousand academics together? 236 00:12:11,240 --> 00:12:14,400 Speaker 1: Yeah, yep, okay, just quickly Sean before we get to 237 00:12:14,480 --> 00:12:18,120 Speaker 1: international news, Energy Minister Chris Bolan says the Albanesi government 238 00:12:18,360 --> 00:12:21,920 Speaker 1: does not agree quote with some of the activities of 239 00:12:22,040 --> 00:12:25,640 Speaker 1: Israel over recent weeks and months, as the governments thus 240 00:12:25,720 --> 00:12:29,840 Speaker 1: far pretty stoic response to the Middle East crisis starts 241 00:12:29,880 --> 00:12:30,720 Speaker 1: to crack a little. 242 00:12:31,000 --> 00:12:33,720 Speaker 2: Yes, so, Foreign Affairs Minister Pennywong and Prime Minister Anthony 243 00:12:33,720 --> 00:12:37,319 Speaker 2: Albernezi have consistently called on all parties to pursue dialogue 244 00:12:37,320 --> 00:12:41,000 Speaker 2: and diplomacy, but Chris Bowen was asked about it yesterday, 245 00:12:41,640 --> 00:12:43,840 Speaker 2: he was asked to respond to the Iranian ambassadors at 246 00:12:43,840 --> 00:12:47,600 Speaker 2: demand Australia condemn Israel for the pre emptive strikes that 247 00:12:47,679 --> 00:12:50,520 Speaker 2: have gone on in recent days. Mister Bowen said, and 248 00:12:50,520 --> 00:12:52,360 Speaker 2: I quote the Prime Minister and Foreign Minister have been 249 00:12:52,480 --> 00:12:55,280 Speaker 2: very clear about our views that we don't agree with 250 00:12:55,320 --> 00:12:58,280 Speaker 2: some of the activities of Israel over recent weeks and months, 251 00:12:58,640 --> 00:13:01,320 Speaker 2: just pushing it a little bit further. The Meanwhile, Senator 252 00:13:01,320 --> 00:13:04,120 Speaker 2: Wong says about fifteen hundred Australians and family members in 253 00:13:04,120 --> 00:13:07,400 Speaker 2: Iran and about twelve hundred in Israel have registered for 254 00:13:07,440 --> 00:13:09,120 Speaker 2: evacuation with the Australian government. 255 00:13:09,240 --> 00:13:11,720 Speaker 1: Okay. Turning to International News Now, which is linked to 256 00:13:11,720 --> 00:13:14,720 Speaker 1: that story, Donald Trump has made his most explicit comments 257 00:13:14,760 --> 00:13:18,280 Speaker 1: yet about possible US military action against Iran, saying that 258 00:13:18,320 --> 00:13:21,960 Speaker 1: the next week would be quote very big in determining 259 00:13:22,000 --> 00:13:25,040 Speaker 1: the course of the war between Israel and the Islamic Republic. 260 00:13:25,240 --> 00:13:30,800 Speaker 2: Speaking after Iran Supreme Leader Aatola Ali Khamani warned Washington 261 00:13:30,880 --> 00:13:35,240 Speaker 2: of irreparable damage if it intervened, Trump suggested Tehran wanted 262 00:13:35,280 --> 00:13:39,520 Speaker 2: to negotiate, but had left it perilously late. Now, according 263 00:13:39,559 --> 00:13:43,040 Speaker 2: to Financial times, the President said, I quote, I may 264 00:13:43,080 --> 00:13:46,360 Speaker 2: do it, I may not do it. I mean, nobody 265 00:13:46,400 --> 00:13:49,319 Speaker 2: knows what I'm going to do. If it wasn't such 266 00:13:49,360 --> 00:13:54,120 Speaker 2: a serious situation, that'd be funny, but it's Trump later 267 00:13:54,120 --> 00:13:56,079 Speaker 2: met with advisers in the White House Situation Room, he 268 00:13:56,200 --> 00:13:58,600 Speaker 2: second such meeting in as many days, as he weighed 269 00:13:58,679 --> 00:14:02,480 Speaker 2: authorizing military action against Tehran. Now. Iran fired a barrage 270 00:14:02,520 --> 00:14:06,680 Speaker 2: of missiles at Israel yesterday, hitting several targets, including a hospital. 271 00:14:06,960 --> 00:14:09,680 Speaker 2: Israeli Prime Minister Benjamin Nettna, who said in a statement 272 00:14:09,679 --> 00:14:12,080 Speaker 2: that he had a very warm conversation with Trump and 273 00:14:12,120 --> 00:14:16,080 Speaker 2: that Israel was advancing step by step to remove Iran's 274 00:14:16,120 --> 00:14:18,199 Speaker 2: nuclear and ballistic missiles threat. 275 00:14:18,160 --> 00:14:20,680 Speaker 1: And over the past week Sean. This just kind of 276 00:14:20,760 --> 00:14:24,840 Speaker 1: shows the flow on effects of this tanker rates using 277 00:14:24,920 --> 00:14:29,360 Speaker 1: the Strait of Holmus, which Iran controls, while they more 278 00:14:29,400 --> 00:14:33,360 Speaker 1: than doubled, which demonstrates how the Middle East conflict can 279 00:14:33,440 --> 00:14:35,720 Speaker 1: and is quickly pushing up energy prices. 280 00:14:35,760 --> 00:14:37,640 Speaker 2: So the price to charter are a very large crude 281 00:14:37,720 --> 00:14:41,640 Speaker 2: carrier so capable of carrying two million barrels of oil 282 00:14:42,160 --> 00:14:46,280 Speaker 2: from the Gulf to China, went from under twenty thousand 283 00:14:46,400 --> 00:14:50,560 Speaker 2: US dollars a day to forty seven six hundred and 284 00:14:50,640 --> 00:14:53,760 Speaker 2: nine US a day just in a week, according to 285 00:14:53,920 --> 00:14:58,840 Speaker 2: figures from Clarkson's research, all tinker moves have gone up. 286 00:14:58,880 --> 00:15:02,320 Speaker 2: So there's something called the Baltic Dirty Tanker Index. Cracking name. 287 00:15:02,400 --> 00:15:04,520 Speaker 1: That's a great name for an index, isn't It's. 288 00:15:04,360 --> 00:15:07,160 Speaker 2: Up twelve percent over the week, right, But this from 289 00:15:07,200 --> 00:15:11,360 Speaker 2: twenty thousand to forty eight thousand in seven days, because 290 00:15:11,400 --> 00:15:13,840 Speaker 2: you have to go through this shakes of hummuz, which 291 00:15:13,920 --> 00:15:16,880 Speaker 2: is what Iran controls. And of course who pays out 292 00:15:16,880 --> 00:15:19,120 Speaker 2: at the end of the day. It's people putting petrol 293 00:15:19,120 --> 00:15:19,640 Speaker 2: into their car. 294 00:15:19,720 --> 00:15:22,760 Speaker 1: Yeah, indeed, Okay. Up next, Fear and Greed Daily interview 295 00:15:22,760 --> 00:15:25,520 Speaker 1: with Ed John from AXI all about CEO pay It 296 00:15:25,560 --> 00:15:27,000 Speaker 1: is coming up in the Fear and Greed playlist on 297 00:15:27,040 --> 00:15:29,680 Speaker 1: your podcast platform or at Fearangreed dot com dot au, 298 00:15:29,720 --> 00:15:32,200 Speaker 1: which is where you sign up for that free daily newsletter. 299 00:15:32,280 --> 00:15:34,480 Speaker 1: Thank you very much, Sean, Thank you, Michael. It is Friday, 300 00:15:34,560 --> 00:15:36,960 Speaker 1: the twentieth of June twenty twenty five. Make sure you're 301 00:15:36,960 --> 00:15:40,640 Speaker 1: following the podcast and please join us online on LinkedIn, Instagram, 302 00:15:40,800 --> 00:15:43,360 Speaker 1: x TikTok and Facebook. Michael Thompson, and that was fear 303 00:15:43,400 --> 00:15:44,680 Speaker 1: and greed. Have a great day.