1 00:00:06,200 --> 00:00:09,600 Michael Thompson: Today on Fear and Greed, Financial markets tumble, with almost 2 00:00:09,600 --> 00:00:12,440 Michael Thompson: one hundred and fifty billion dollars wiped off the ASX 3 00:00:12,440 --> 00:00:15,960 Michael Thompson: at one point yesterday, the Board of Star Entertainment set 4 00:00:16,040 --> 00:00:18,720 Michael Thompson: to sell the gaming group for three hundred million dollars, 5 00:00:19,000 --> 00:00:21,799 Michael Thompson: and the rise and Rise of HBO series The White 6 00:00:21,840 --> 00:00:25,639 Michael Thompson: Lotus Plus. Federal Treasurer Jim Chalmers warns that the global 7 00:00:25,680 --> 00:00:29,800 Michael Thompson: crisis could widen Australia's deficit and trigger rate cuts, while 8 00:00:29,840 --> 00:00:33,519 Michael Thompson: Opposition leader Peter Dutton works hard to ward off comparisons 9 00:00:33,560 --> 00:00:36,479 Michael Thompson: with Donald Trump. Welcome to Fear and Greed, daily business 10 00:00:36,479 --> 00:00:39,280 Michael Thompson: news for people who make their own decisions. It is Tuesday, 11 00:00:39,360 --> 00:00:42,720 Michael Thompson: the eighth of April twenty twenty five. I'm Michael Thompson 12 00:00:42,720 --> 00:00:44,120 Michael Thompson: and good morning, Sean Aylmer. 13 00:00:44,360 --> 00:00:47,479 Sean Aylmer: Good morning, Michael. An exciting day, exciting twenty four hours. 14 00:00:47,720 --> 00:00:51,720 Michael Thompson: It certainly has not just because we launched our daily newsletter. 15 00:00:52,240 --> 00:00:55,520 Sean Aylmer: Totally, totally because we launched our daily newsletter. Michael. Oh, 16 00:00:55,600 --> 00:00:56,960 Sean Aylmer: that's our markets, yeah. 17 00:00:56,880 --> 00:01:00,639 Michael Thompson: Yeah, yeah, yeah, markets, markets, markets, but daily newsletters. If 18 00:01:00,640 --> 00:01:03,440 Michael Thompson: you haven't signed up already, head along to Fearandgreed dot 19 00:01:03,480 --> 00:01:06,280 Michael Thompson: com at dot au and pop your email address in. 20 00:01:06,319 --> 00:01:08,360 Michael Thompson: I'll also put a link in today's show notes. But Sean, 21 00:01:08,360 --> 00:01:11,679 Michael Thompson: as you said it yesterday, it is a one short email, 22 00:01:11,720 --> 00:01:13,840 Michael Thompson: a quick hit of all the things you need to 23 00:01:14,319 --> 00:01:16,640 Michael Thompson: basically start your day on a pretty successful foot. 24 00:01:16,720 --> 00:01:18,639 Sean Aylmer: If you want to turn up at your desk knowing 25 00:01:18,680 --> 00:01:21,600 Sean Aylmer: what's going on in the business world, subscribe because you know, 26 00:01:21,600 --> 00:01:24,120 Sean Aylmer: when you're on the train or the bus, or maybe 27 00:01:24,200 --> 00:01:25,640 Sean Aylmer: not in the car, we don't want you just using 28 00:01:25,640 --> 00:01:27,760 Sean Aylmer: your phone in the car, you know, walking to your office. 29 00:01:27,800 --> 00:01:29,560 Sean Aylmer: You can just sort of glance at the newsletter and 30 00:01:29,600 --> 00:01:31,400 Sean Aylmer: you'll know what's going on in the world of business 31 00:01:31,400 --> 00:01:32,479 Sean Aylmer: before you get to your desk. 32 00:01:32,880 --> 00:01:35,800 Michael Thompson: Yeah, well said. And it is entirely free, So head 33 00:01:35,800 --> 00:01:38,640 Michael Thompson: along to the website and sign up today, Sean. The 34 00:01:38,680 --> 00:01:42,360 Michael Thompson: main story this morning. Nearly one hundred billion dollars was 35 00:01:42,400 --> 00:01:45,640 Michael Thompson: wiped off the ASX yesterday, with the benchmark index finishing 36 00:01:45,720 --> 00:01:48,880 Michael Thompson: down more than four percent. It could have been worse, though, 37 00:01:49,120 --> 00:01:51,720 Michael Thompson: with the S and P ASX two hundred at one 38 00:01:51,800 --> 00:01:53,880 Michael Thompson: point down six percent. 39 00:01:54,520 --> 00:01:57,040 Sean Aylmer: Yes, within the first few minutes, we've lost about one 40 00:01:57,120 --> 00:01:59,360 Sean Aylmer: hundred and forty one hundred and fifty billion dollars from 41 00:01:59,400 --> 00:02:03,120 Sean Aylmer: the boss was pretty brutal. The biggest one day loss 42 00:02:03,240 --> 00:02:06,400 Sean Aylmer: yesterday in five years, and of course, it followed a 43 00:02:06,440 --> 00:02:10,160 Sean Aylmer: more than four percent loss on Friday. Asian share markets 44 00:02:10,200 --> 00:02:13,760 Sean Aylmer: also slumped, with the Misky Asia Pacific Index, a measure 45 00:02:13,919 --> 00:02:17,640 Sean Aylmer: of indexes in the region, falling as much as seven 46 00:02:17,680 --> 00:02:21,840 Sean Aylmer: point nine percent. Cyclical stocks and companies operating into the 47 00:02:22,000 --> 00:02:25,520 Sean Aylmer: US have been hit hardest, while defensive plays such as 48 00:02:25,560 --> 00:02:30,919 Sean Aylmer: the big supermarkets, Telstra infrastructure companies have outperformed, albeit their 49 00:02:30,919 --> 00:02:33,520 Sean Aylmer: share price is dropping just not as much as some 50 00:02:33,680 --> 00:02:36,160 Sean Aylmer: of the others. The big miners we hit hard on 51 00:02:36,240 --> 00:02:41,040 Sean Aylmer: fears of uf US tariffs triggering a global recession. BHP 52 00:02:41,200 --> 00:02:44,119 Sean Aylmer: tumble to its lowest level since November twenty twenty one. 53 00:02:44,480 --> 00:02:48,480 Sean Aylmer: Market leader Komwoff Bank lost six percent. The other three 54 00:02:48,520 --> 00:02:50,920 Sean Aylmer: big banks lost that sort of four to five percent. 55 00:02:51,240 --> 00:02:55,040 Sean Aylmer: Big energy company Santos and Woodside in particular tumbled along 56 00:02:55,080 --> 00:02:58,360 Sean Aylmer: with oil prices. In fact, all eleven sub indices on 57 00:02:58,400 --> 00:03:01,160 Sean Aylmer: the ASX two hundred dropped yesterday, more than ninety percent 58 00:03:01,200 --> 00:03:06,640 Sean Aylmer: of companies well a why it's all about the uncertainty 59 00:03:06,880 --> 00:03:10,760 Sean Aylmer: around tariffs what that means for the global economy. With 60 00:03:10,960 --> 00:03:16,200 Sean Aylmer: plenty of pundits now saying we're in for a US recession. 61 00:03:16,960 --> 00:03:20,239 Michael Thompson: All right, What does that mean then for us in 62 00:03:20,360 --> 00:03:23,079 Michael Thompson: terms of the local economic consequences from the sell off? 63 00:03:23,600 --> 00:03:25,799 Michael Thompson: What does it mean for growth? What does it mean 64 00:03:25,840 --> 00:03:26,600 Michael Thompson: for interest rates? 65 00:03:26,840 --> 00:03:30,640 Sean Aylmer: Treasury Jim Chalmers was out yesterday. He said his department's 66 00:03:30,680 --> 00:03:33,920 Sean Aylmer: modeling expects there to be big hits to American and 67 00:03:34,000 --> 00:03:37,240 Sean Aylmer: Chinese growth, as well as a spike in US inflation. 68 00:03:37,760 --> 00:03:40,480 Sean Aylmer: He said he expects the Australian growth rate to take 69 00:03:40,520 --> 00:03:42,960 Sean Aylmer: a hit and there'll be an impact on prices, but 70 00:03:43,000 --> 00:03:45,560 Sean Aylmer: it should be manageable. He said the local economy is 71 00:03:45,600 --> 00:03:49,680 Sean Aylmer: actually well placed in these uncertain times now. Treasury yesterday 72 00:03:49,680 --> 00:03:53,080 Sean Aylmer: released its pre election economic and fiscal outlook. Normally very 73 00:03:53,080 --> 00:03:55,080 Sean Aylmer: exciting stuff, Michael, but we had the budget just a 74 00:03:55,120 --> 00:03:57,920 Sean Aylmer: couple of weeks ago, so we didn't care too much 75 00:03:57,960 --> 00:04:00,680 Sean Aylmer: about it. Yesterday nothing new except it did say that 76 00:04:00,680 --> 00:04:04,760 Sean Aylmer: Trump's tariffs could reduce consumer confidence and potentially damage the 77 00:04:04,800 --> 00:04:08,280 Sean Aylmer: budget by causing it a client in commodity prices. Hit 78 00:04:08,320 --> 00:04:11,600 Sean Aylmer: to growth could trigger a higher unemployment rate. That's what 79 00:04:11,680 --> 00:04:13,880 Sean Aylmer: I'm saying. But the good news there is the starting 80 00:04:13,920 --> 00:04:16,320 Sean Aylmer: point for the labor market is one of strength. In 81 00:04:16,520 --> 00:04:19,640 Sean Aylmer: bond markets, traders are priced in a reserve bank cut 82 00:04:19,720 --> 00:04:22,239 Sean Aylmer: of the official cash rate in May and then July 83 00:04:22,640 --> 00:04:25,000 Sean Aylmer: and then August. The fear of a sharp economic slay 84 00:04:25,080 --> 00:04:29,600 Sean Aylmer: down is very much overriding concerns about tariff's being inflationary. 85 00:04:29,960 --> 00:04:33,159 Sean Aylmer: Some economists are even saying a fifty basis point cut 86 00:04:33,200 --> 00:04:37,400 Sean Aylmer: in May is a possibility, something Jim Chalmers pointed out yesterday. 87 00:04:38,240 --> 00:04:41,039 Michael Thompson: Sewan, As you said, though, this all comes back to 88 00:04:41,200 --> 00:04:46,080 Michael Thompson: the uncertainty around the tariffs, and I think everyone is 89 00:04:46,120 --> 00:04:49,120 Michael Thompson: wondering what the person who actually pulled the trigger on 90 00:04:49,160 --> 00:04:51,880 Michael Thompson: the tariffs thinks about all the carnage. What has Donald 91 00:04:51,880 --> 00:04:56,440 Michael Thompson: Trump said to pay three games of golf over the weekend. Well, no, 92 00:04:56,600 --> 00:05:00,880 Michael Thompson: that's not true. That's not true. He visited three golf courses. 93 00:05:00,920 --> 00:05:03,240 Michael Thompson: I think one of them was a function. He certainly 94 00:05:03,240 --> 00:05:06,359 Michael Thompson: played in one of his own tournaments over the weekend. Yeah. 95 00:05:07,000 --> 00:05:10,960 Michael Thompson: I know that politics is largely about optics, right. I 96 00:05:11,000 --> 00:05:12,480 Michael Thompson: don't think that's great optics. 97 00:05:12,520 --> 00:05:15,200 Sean Aylmer: Look, I'm not against him playing golf, Like maybe it's 98 00:05:15,240 --> 00:05:17,800 Sean Aylmer: good thinking time for him or something good discussing time, 99 00:05:18,000 --> 00:05:19,320 Sean Aylmer: But it just doesn't look very good. 100 00:05:19,720 --> 00:05:25,200 Michael Thompson: No, not when there is a essentially a crisis underway, 101 00:05:25,279 --> 00:05:28,839 Michael Thompson: and it's a crisis that has been caused by actions 102 00:05:28,880 --> 00:05:30,240 Michael Thompson: taken by his administration. 103 00:05:30,720 --> 00:05:33,520 Sean Aylmer: Yeah yeah, although that seems to wash off him pretty well. 104 00:05:33,680 --> 00:05:37,479 Sean Aylmer: Aboard Air Force one, yesterday, Trump said that sometimes you 105 00:05:37,560 --> 00:05:40,839 Sean Aylmer: have to take medicine and added he isn't intentionally engineering 106 00:05:40,880 --> 00:05:43,640 Sean Aylmer: a market sell off and blamed his predecessor. In fact, 107 00:05:43,960 --> 00:05:46,719 Sean Aylmer: he said that a reporter asked him a question which 108 00:05:46,720 --> 00:05:48,200 Sean Aylmer: he said was stupid. Then he went on to say, 109 00:05:48,240 --> 00:05:50,200 Sean Aylmer: I don't want anything to go down, but sometimes you 110 00:05:50,279 --> 00:05:52,840 Sean Aylmer: have to take medicine to fix something. We have been 111 00:05:52,880 --> 00:05:56,160 Sean Aylmer: treated so badly by other countries because we had stupid 112 00:05:56,279 --> 00:05:59,760 Sean Aylmer: leadership that allowed this to happen. The Trump administration says 113 00:05:59,880 --> 00:06:01,920 Sean Aylmer: more than fifty countries have reached out to the White 114 00:06:01,960 --> 00:06:04,360 Sean Aylmer: House to begin negotiations over tariffs. 115 00:06:05,279 --> 00:06:08,719 Michael Thompson: All right, so we've gone now through what's happening on 116 00:06:08,760 --> 00:06:11,840 Michael Thompson: equity markets and what the tariffs itself means for the 117 00:06:11,920 --> 00:06:14,919 Michael Thompson: economy and for interest rates. What about the Aussie dollar 118 00:06:15,120 --> 00:06:16,920 Michael Thompson: and one more, what about commodity prices? 119 00:06:17,000 --> 00:06:20,280 Sean Aylmer: Okay, so the Aussie dollar fell below sixty US cents yesterday. 120 00:06:20,320 --> 00:06:23,480 Sean Aylmer: It's kind of ironic, but in times of turmoil, even 121 00:06:23,520 --> 00:06:27,280 Sean Aylmer: when America is causing the strife, investors tend to buy 122 00:06:27,320 --> 00:06:29,560 Sean Aylmer: the US dollars. There's a safe currency which kind of 123 00:06:29,600 --> 00:06:33,159 Sean Aylmer: works against economic principles, but it's just such a big economy. 124 00:06:33,800 --> 00:06:36,800 Sean Aylmer: They tend to sell commodity currencies such as the Aussie dollar. 125 00:06:37,040 --> 00:06:40,280 Sean Aylmer: Hence we're back below sixty US since it did bounce, 126 00:06:40,320 --> 00:06:44,560 Sean Aylmer: though yesterday afternoon. There really isn't much that's been spared 127 00:06:44,560 --> 00:06:46,279 Sean Aylmer: in terms of the commodity. Is copper, which is the 128 00:06:46,279 --> 00:06:49,640 Sean Aylmer: bell whether for commodities full and sixteen percent and three 129 00:06:49,720 --> 00:06:53,000 Sean Aylmer: days gold is training around three thousand US dolls andnounce 130 00:06:53,000 --> 00:06:56,440 Sean Aylmer: a bit above that as we speak. Oil's also tumbled 131 00:06:56,440 --> 00:06:58,559 Sean Aylmer: Brent down to about sixty four US dollars a barrel, 132 00:06:58,600 --> 00:07:00,680 Sean Aylmer: the lowest in about four years now silver lining in 133 00:07:00,760 --> 00:07:04,400 Sean Aylmer: this one, of course, petrol prices should follow. The price 134 00:07:04,440 --> 00:07:07,680 Sean Aylmer: of iron ore fell to ninety seven US solars a ton. 135 00:07:07,800 --> 00:07:10,880 Sean Aylmer: Cryptos also tumbled, Bitcoins around seventy seven thousand US size 136 00:07:10,880 --> 00:07:13,880 Sean Aylmer: a unit, ethers at its lowest since October twenty twenty three, 137 00:07:14,280 --> 00:07:18,560 Sean Aylmer: so wide spread selling off on the back of expected 138 00:07:18,920 --> 00:07:22,920 Sean Aylmer: lower economic growth globally. The two silver lining points where 139 00:07:22,960 --> 00:07:26,920 Sean Aylmer: a Glass halfull podcast note out about that probably lower 140 00:07:26,920 --> 00:07:31,280 Sean Aylmer: interest rates in Australia and probably lower petrol prices I love. 141 00:07:31,160 --> 00:07:33,600 Michael Thompson: That for a podcast here and degree do you reckon? 142 00:07:33,600 --> 00:07:34,800 Michael Thompson: We're a glass half full? 143 00:07:35,840 --> 00:07:36,040 Sean Aylmer: Now. 144 00:07:36,120 --> 00:07:40,040 Michael Thompson: Look, obviously the main story the headline is equities and 145 00:07:40,040 --> 00:07:42,360 Michael Thompson: what happened on the local market yesterday for us Sean. 146 00:07:42,720 --> 00:07:45,120 Michael Thompson: You've got a great interview then coming up after the 147 00:07:45,160 --> 00:07:47,480 Michael Thompson: show with Ben Gilbert from Jarden. 148 00:07:48,160 --> 00:07:52,200 Sean Aylmer: So we asked Ben whether he was surprised about what's happened, 149 00:07:53,040 --> 00:07:55,000 Sean Aylmer: and we asked him to put it into context, which 150 00:07:55,040 --> 00:07:58,840 Sean Aylmer: he does. Then we go into some specific stocks that 151 00:07:58,920 --> 00:08:02,880 Sean Aylmer: he's been looking at, and ben thesis, which is imminently sensible, 152 00:08:03,120 --> 00:08:04,560 Sean Aylmer: is you know, you should have a strategy for your 153 00:08:04,600 --> 00:08:12,000 Sean Aylmer: investing and what is happening at the moment provides opportunities 154 00:08:12,080 --> 00:08:15,600 Sean Aylmer: for investors as well as everything else, and he says 155 00:08:15,600 --> 00:08:17,200 Sean Aylmer: it's important to look out for those. 156 00:08:17,960 --> 00:08:22,920 Michael Thompson: I reckon Ben is one of the best communicators in investing. 157 00:08:24,200 --> 00:08:26,440 Michael Thompson: Is just so clear in what he says. 158 00:08:26,480 --> 00:08:28,240 Sean Aylmer: Towards the end of the interview, I said, now you're 159 00:08:28,280 --> 00:08:30,480 Sean Aylmer: a I don't think I called him mild Metad. I 160 00:08:30,520 --> 00:08:32,640 Sean Aylmer: might have said, mild Metad, you're a sensible sort of fellow, 161 00:08:33,080 --> 00:08:35,720 Sean Aylmer: and you could just and Ben is super sensible and 162 00:08:35,760 --> 00:08:38,360 Sean Aylmer: you sort of just see his grin he just likes 163 00:08:38,520 --> 00:08:41,240 Sean Aylmer: straight mouth and then this little green starts coming his laugh. 164 00:08:42,520 --> 00:08:44,679 Sean Aylmer: I said, is this really Have you ever seen anything 165 00:08:44,760 --> 00:08:47,520 Sean Aylmer: like this? And then he laughs and chuckle and said no, 166 00:08:47,760 --> 00:08:49,920 Sean Aylmer: but it's just he's so sensible. 167 00:08:50,040 --> 00:08:53,000 Michael Thompson: Yeah. It is a great conversation, definitely worth a listener. 168 00:08:53,040 --> 00:08:54,839 Michael Thompson: It is coming up after the show. We still have 169 00:08:54,880 --> 00:08:56,559 Michael Thompson: a lot to get through though, Sean. We'll be back 170 00:08:56,559 --> 00:09:06,320 Michael Thompson: in a moment with the rest of the day's business news, Sean. 171 00:09:06,360 --> 00:09:08,880 Michael Thompson: The board of Star Entertainment has agreed to hand over 172 00:09:08,880 --> 00:09:12,079 Michael Thompson: the casino group to US based Bally's Corporation in a 173 00:09:12,120 --> 00:09:15,480 Michael Thompson: three hundred million dollar deal, meaning the casinos in Sydney, 174 00:09:15,480 --> 00:09:17,840 Michael Thompson: Brisbane and the Gold Coast will continue operating. 175 00:09:18,240 --> 00:09:20,560 Sean Aylmer: Under the plan reported by The finn Review, Ballets will 176 00:09:20,559 --> 00:09:22,760 Sean Aylmer: inject about two hundred and fifty million dollars into Star, 177 00:09:22,920 --> 00:09:27,000 Sean Aylmer: while largest shareholder, Publican Bruce Matheson will put in fifty 178 00:09:27,000 --> 00:09:29,440 Sean Aylmer: million dollars. Some of the money is expected this week, 179 00:09:29,480 --> 00:09:32,520 Sean Aylmer: allowing the game and group to meet its obligations. It's 180 00:09:32,559 --> 00:09:35,400 Sean Aylmer: been quite the ride for Star. I think that's fair 181 00:09:35,440 --> 00:09:38,440 Sean Aylmer: to say. It's been a regular on fear in greed 182 00:09:38,559 --> 00:09:40,760 Sean Aylmer: for about twelve months. A cost blow out at its 183 00:09:40,800 --> 00:09:44,679 Sean Aylmer: new Queen's Wharf entertainment precinct in Brisbane, precipitated months of 184 00:09:44,720 --> 00:09:47,440 Sean Aylmer: financial stress, including an additional one hundred million dollar loone 185 00:09:47,440 --> 00:09:50,680 Sean Aylmer: from lenders. Last September it almost ran out of cash. 186 00:09:50,880 --> 00:09:53,280 Sean Aylmer: There was an aborted seven hundred and fifty million dollar 187 00:09:53,360 --> 00:09:56,920 Sean Aylmer: lifeline from property investors Salter Brothers, and a deal to 188 00:09:56,960 --> 00:10:00,000 Sean Aylmer: sell its fifty percent stake in the Queen's Wharf precinct. 189 00:10:00,720 --> 00:10:05,040 Sean Aylmer: Bally's is a US group owned nineteen casinos. Looks like 190 00:10:05,200 --> 00:10:08,520 Sean Aylmer: this is the deal that will keep Star going. I say, 191 00:10:08,520 --> 00:10:10,120 Sean Aylmer: with fingers crossed, yes. Yeah. 192 00:10:10,160 --> 00:10:12,320 Michael Thompson: You never know, do you when it can never start? No? 193 00:10:13,040 --> 00:10:16,320 Michael Thompson: In politics, sean oppositionally to Peter Dutton is battling to 194 00:10:16,440 --> 00:10:19,960 Michael Thompson: ward off comparisons to US President Donald Trump, saying that 195 00:10:20,040 --> 00:10:24,080 Michael Thompson: his policies are not controversial. Mind you, he was talking 196 00:10:24,440 --> 00:10:26,760 Michael Thompson: after hopping out of an oil tanker to spook his 197 00:10:26,840 --> 00:10:31,000 Michael Thompson: promise to cut fuel prices. It's just slightly, slightly reminiscent 198 00:10:31,360 --> 00:10:33,920 Michael Thompson: of Donald Trump jumping out of a garbage truck during 199 00:10:33,960 --> 00:10:37,560 Michael Thompson: his campaign. I reckon, Peter Dutton does have an eye 200 00:10:37,559 --> 00:10:38,720 Michael Thompson: for a good photo opportunity. 201 00:10:38,800 --> 00:10:40,680 Sean Aylmer: I mean, it was a fantastic prop he was in 202 00:10:40,720 --> 00:10:44,560 Sean Aylmer: South Australia, the oil tanker Long it had saved twenty 203 00:10:44,559 --> 00:10:47,480 Sean Aylmer: five cents per lea to vote Liberal. It actually was fantastic, 204 00:10:47,800 --> 00:10:51,160 Sean Aylmer: Maybe just a bit ill advised because it was a 205 00:10:51,160 --> 00:10:55,520 Sean Aylmer: bit Trump esque and he's really trying to play that down. Yeah, 206 00:10:55,840 --> 00:10:58,439 Sean Aylmer: yesterday he promised eight hundred and forty million dollars for 207 00:10:58,480 --> 00:11:01,760 Sean Aylmer: Adelaide Rhodes. He also event some of the time basically 208 00:11:01,840 --> 00:11:04,720 Sean Aylmer: repeating his mere culper The liberals work from home policy, 209 00:11:04,880 --> 00:11:07,120 Sean Aylmer: which had said bureaucrats need to work five days in 210 00:11:07,160 --> 00:11:09,520 Sean Aylmer: the office, was a mistake. He said the coloration got 211 00:11:09,520 --> 00:11:12,440 Sean Aylmer: it wrong. He still wants to cut the public service, 212 00:11:12,480 --> 00:11:14,920 Sean Aylmer: the canber public service by about forty one thousand, but 213 00:11:15,000 --> 00:11:18,199 Sean Aylmer: now he's saying it's over five years. So he's toning 214 00:11:18,240 --> 00:11:20,079 Sean Aylmer: down both work from home and what he wants to 215 00:11:20,120 --> 00:11:21,040 Sean Aylmer: do with the public service. 216 00:11:21,559 --> 00:11:24,280 Michael Thompson: Now. This is a big one. Sean energy giant Woodside 217 00:11:24,360 --> 00:11:27,480 Michael Thompson: will sell forty percent of its interest in its Louisiana 218 00:11:27,760 --> 00:11:32,280 Michael Thompson: LNG infrastructure project to a US investment group for five 219 00:11:32,320 --> 00:11:34,080 Michael Thompson: point seven billion US dollars. 220 00:11:34,440 --> 00:11:37,160 Sean Aylmer: Yes, huge money in these projects. The money from stone 221 00:11:37,480 --> 00:11:39,920 Sean Aylmer: Peak will be used to fund the capital cost of 222 00:11:39,960 --> 00:11:42,920 Sean Aylmer: the project and Woodside's looking at offloading more of the 223 00:11:43,000 --> 00:11:46,520 Sean Aylmer: venture now. Woodside purchased Louisiana LNG last year for about 224 00:11:46,559 --> 00:11:49,920 Sean Aylmer: nine hundred million dollars. It was always going to offload 225 00:11:50,080 --> 00:11:52,880 Sean Aylmer: parts of it, and there's been a lot of conjecture 226 00:11:52,920 --> 00:11:55,079 Sean Aylmer: over whether they'd be able to do it. Ultimately, he 227 00:11:55,080 --> 00:11:57,400 Sean Aylmer: wants to keep about fifty percent of it. Means it's 228 00:11:57,440 --> 00:12:01,200 Sean Aylmer: got ten percent to sell. The propose first stage of 229 00:12:01,240 --> 00:12:05,560 Sean Aylmer: the project is expected to cost between fifteen and sixteen 230 00:12:05,880 --> 00:12:07,839 Sean Aylmer: billion US dollars. 231 00:12:09,360 --> 00:12:12,240 Michael Thompson: Wow, yeah, you are right. They are big, big numbers, 232 00:12:12,280 --> 00:12:14,840 Michael Thompson: big numbers. There are a couple of M and A 233 00:12:14,960 --> 00:12:17,240 Michael Thompson: deals and we're talking at the smaller end of the 234 00:12:17,280 --> 00:12:20,920 Michael Thompson: market here. Sean at least our proposed deals are announced yesterday. 235 00:12:21,080 --> 00:12:21,920 Michael Thompson: Definitely worth a mention. 236 00:12:22,600 --> 00:12:25,600 Sean Aylmer: Abacus Storage King rally twenty one percent after its majority 237 00:12:25,640 --> 00:12:29,280 Sean Aylmer: investor Kai Corporation and New York Socket Exchange listed Public 238 00:12:29,400 --> 00:12:34,199 Sean Aylmer: Storage lobbed of proposal to buy the remaining steak. Challenger 239 00:12:34,240 --> 00:12:36,320 Sean Aylmer: dumped eight percent. You knew it, he has provided Challenger 240 00:12:36,360 --> 00:12:40,520 Sean Aylmer: after it announced life insurer tal Dachi Life would acquire 241 00:12:40,520 --> 00:12:43,360 Sean Aylmer: a fifteen point one percent interest. Now Challenger already has 242 00:12:43,400 --> 00:12:47,200 Sean Aylmer: a sales relationship in Japan with Daichi Life, so a 243 00:12:47,200 --> 00:12:48,240 Sean Aylmer: couple of smaller deals. 244 00:12:48,280 --> 00:12:53,079 Michael Thompson: Yesterday, turning to international news now, and Iran was complicit 245 00:12:53,200 --> 00:12:56,440 Michael Thompson: in her master's attack on southern Israel on October seven, 246 00:12:56,480 --> 00:12:59,520 Michael Thompson: twenty twenty three, and helped fund it to the tune 247 00:12:59,559 --> 00:13:02,520 Michael Thompson: of half a billion US dollars. This is a claim 248 00:13:02,559 --> 00:13:04,440 Michael Thompson: by Israel's Defense minister. 249 00:13:05,040 --> 00:13:07,719 Sean Aylmer: Teyran's always denied any prior knowledge of the massacre, in 250 00:13:07,720 --> 00:13:10,640 Sean Aylmer: which Hamas militants killed at least twelve hundred people took 251 00:13:10,640 --> 00:13:14,679 Sean Aylmer: two hundred and fifty hostages, but Israeli Defense Minister Israel 252 00:13:14,760 --> 00:13:19,040 Sean Aylmer: Katz has revealed a document he says he says proves 253 00:13:19,080 --> 00:13:22,360 Sean Aylmer: Tehran supported the attack. According to the Australian, mister Kat 254 00:13:22,400 --> 00:13:24,760 Sean Aylmer: said the Israeli Defense forces had found the documents in 255 00:13:24,800 --> 00:13:27,720 Sean Aylmer: tunnels used by senior Hamas officials in Gaza. 256 00:13:29,040 --> 00:13:31,839 Michael Thompson: Been a very serious show. To that point, Sean, can 257 00:13:31,880 --> 00:13:33,199 Michael Thompson: we lighten things off a little bit? 258 00:13:33,679 --> 00:13:37,320 Sean Aylmer: I don't think this is a particularly light story. Oh show. 259 00:13:37,559 --> 00:13:39,680 Michael Thompson: That's a very good point. If you watch The White 260 00:13:39,760 --> 00:13:42,600 Michael Thompson: Lotus you would know that it's not often a light show. 261 00:13:42,920 --> 00:13:45,199 Michael Thompson: The third and don't worry, there's no spoilers in this 262 00:13:45,520 --> 00:13:48,360 Michael Thompson: most I haven't seen the season finale, yet you're not 263 00:13:48,400 --> 00:13:50,520 Michael Thompson: going to hear about it here. The third season of 264 00:13:50,800 --> 00:13:55,480 Michael Thompson: HBO series White Lotus and it's finale yesterday Australian Time, 265 00:13:55,480 --> 00:13:58,680 Michael Thompson: which I have not yet seen Sean, has become one 266 00:13:58,720 --> 00:14:01,880 Michael Thompson: of the most popular TV series on record for the 267 00:14:01,880 --> 00:14:03,440 Michael Thompson: Warner Brothers pay TV service. 268 00:14:04,480 --> 00:14:09,319 Sean Aylmer: It's the third season, the most popular popular yet attracting 269 00:14:09,400 --> 00:14:12,160 Sean Aylmer: sort of between eighteen and twenty million viewers. That's about 270 00:14:12,240 --> 00:14:15,200 Sean Aylmer: double what season one is attracted. Now. You and I 271 00:14:15,240 --> 00:14:17,120 Sean Aylmer: off air have discussed The White Ladis a lot over 272 00:14:17,160 --> 00:14:19,400 Sean Aylmer: the last few weeks, whether it was too slow, whether 273 00:14:19,400 --> 00:14:22,760 Sean Aylmer: it was and lots of critics like that whatever, More 274 00:14:22,800 --> 00:14:25,120 Sean Aylmer: than twice the number of people are watching it now 275 00:14:25,160 --> 00:14:29,680 Sean Aylmer: as that first season. The only other recent HBO original 276 00:14:29,760 --> 00:14:33,560 Sean Aylmer: series with higher audience figures the Last of Us, which 277 00:14:33,560 --> 00:14:35,840 Sean Aylmer: had thirty million viewers for the first season in twenty 278 00:14:35,840 --> 00:14:40,000 Sean Aylmer: twenty three, and House of Dragons, the Game of Thrones offshoot. 279 00:14:40,440 --> 00:14:43,560 Sean Aylmer: Mind you, its numbers have been declining or second season 280 00:14:43,560 --> 00:14:47,600 Sean Aylmer: certainly declined. The White Ladders is far and away, long 281 00:14:47,600 --> 00:14:50,240 Sean Aylmer: away from the most popular show in the US. I 282 00:14:50,280 --> 00:14:53,560 Sean Aylmer: mean the streaming services Netflix, Amazon, Prime Video, et cetera. 283 00:14:53,840 --> 00:14:58,080 Sean Aylmer: They command the actual high viewership. But for a quirky 284 00:15:00,320 --> 00:15:05,640 Sean Aylmer: center HBO series, it is incredibly popular, twice as popular 285 00:15:05,680 --> 00:15:06,840 Sean Aylmer: as it was a couple of years ago. 286 00:15:07,120 --> 00:15:10,200 Michael Thompson: Yeah. The one I feel most sorry for, Sean is 287 00:15:11,240 --> 00:15:16,920 Michael Thompson: the Foxtel owned streaming service Bins, which obviously, with Max 288 00:15:17,280 --> 00:15:21,320 Michael Thompson: starting here in Australia, all of the HBO shows are 289 00:15:21,320 --> 00:15:24,280 Michael Thompson: migrating across and the first two seasons of White Lotus 290 00:15:24,280 --> 00:15:28,120 Michael Thompson: have already disappeared from Binge and it's just the last 291 00:15:28,120 --> 00:15:30,600 Michael Thompson: one that's still there, and so they've really lost a 292 00:15:30,720 --> 00:15:34,120 Michael Thompson: marquee show for that platform. Anyway, that was a lighter 293 00:15:34,160 --> 00:15:36,360 Michael Thompson: way to finish the show, Sean. Up next is the 294 00:15:36,400 --> 00:15:39,440 Michael Thompson: Fear and Greed Daily Interview. Ben Gilbert from Jarden is 295 00:15:39,480 --> 00:15:42,800 Michael Thompson: your guest today. A great interview and do not forget 296 00:15:43,240 --> 00:15:45,400 Michael Thompson: to sign up for the Fear and Greed sign up 297 00:15:45,520 --> 00:15:48,240 Michael Thompson: that's right newsletter. Head on to Fearangreed dot com dot 298 00:15:48,280 --> 00:15:51,760 Michael Thompson: au and you can receive the newsletter a quick hit 299 00:15:51,840 --> 00:15:53,600 Michael Thompson: of all the business news that you need to notice 300 00:15:53,600 --> 00:15:56,440 Michael Thompson: start the day in your inbox every morning by six am. 301 00:15:56,720 --> 00:15:58,200 Michael Thompson: I'll put a link in the show notes as well 302 00:15:58,240 --> 00:15:59,560 Michael Thompson: to make it very easy to sign up. 303 00:15:59,560 --> 00:16:01,000 Sean Aylmer: Thanks Sean, Thanks Michael. 304 00:16:01,160 --> 00:16:03,560 Michael Thompson: It is Tuesday, the eighth of April twenty twenty five. 305 00:16:03,600 --> 00:16:05,680 Michael Thompson: Make sure you're following the podcast and please join us 306 00:16:05,680 --> 00:16:09,400 Michael Thompson: online on LinkedIn, Instagram, x TikTok and Facebook. I'm Michael 307 00:16:09,440 --> 00:16:12,120 Michael Thompson: Thompson and that with fear and greed. Have a great day.