1
00:00:06,400 --> 00:00:09,320
Speaker 1: Welcome to Fear and Greed business news you can use today.

2
00:00:09,400 --> 00:00:12,399
Speaker 1: Global share markets are under pressure as US tariffs come

3
00:00:12,440 --> 00:00:17,000
Speaker 1: into force. Victoria's Allan government wants to legislate work from home,

4
00:00:17,360 --> 00:00:20,320
Speaker 1: and house prices are on the rise. Plus the Productivity

5
00:00:20,320 --> 00:00:24,640
Speaker 1: Commission's radical plan to overhaul company tax rates. And Donald

6
00:00:24,680 --> 00:00:27,880
Speaker 1: Trump sacks the head of the Bureau of Labor Statistics

7
00:00:28,240 --> 00:00:31,720
Speaker 1: after disappointing employment data. It is Monday, the fourth of

8
00:00:31,800 --> 00:00:34,800
Speaker 1: August twenty twenty five. I'm Michael Thompson and good morning,

9
00:00:34,840 --> 00:00:35,560
Speaker 1: Sean Aylmer.

10
00:00:35,720 --> 00:00:36,720
Speaker 2: Good morning, Michael.

11
00:00:37,320 --> 00:00:39,720
Speaker 1: A lot on today, Shawn. The main story this morning.

12
00:00:39,760 --> 00:00:43,400
Speaker 1: Global share markets are under pressure after US President Donald

13
00:00:43,400 --> 00:00:47,160
Speaker 1: Trump announced a raft of tariffs on friend and foe

14
00:00:47,240 --> 00:00:50,519
Speaker 1: alike as his deadline for trade deals passed.

15
00:00:51,040 --> 00:00:51,360
Speaker 2: Now.

16
00:00:51,640 --> 00:00:55,200
Speaker 1: Australia has done relatively well in all of this, attracting

17
00:00:55,680 --> 00:00:57,160
Speaker 1: just a ten percent tariff.

18
00:00:57,840 --> 00:01:00,240
Speaker 2: Yes, I think so. There's some regions and country he's

19
00:01:00,320 --> 00:01:03,440
Speaker 2: ended up with lower tariffs and first announced on Liberation Day.

20
00:01:04,000 --> 00:01:06,480
Speaker 2: The EU, for example, and South Korea ended up with

21
00:01:06,520 --> 00:01:09,000
Speaker 2: fifteen percent tariffs. That was a bit better. Other others

22
00:01:09,040 --> 00:01:11,399
Speaker 2: have ended up much worse. Brazil has been hit with

23
00:01:11,400 --> 00:01:14,880
Speaker 2: a fifty percent impost the deals lack detail and that

24
00:01:14,920 --> 00:01:18,200
Speaker 2: will unsettle financial markets for a while. Yet also some

25
00:01:18,360 --> 00:01:21,800
Speaker 2: countries goods will attract a fifteen percent tariff, yet when

26
00:01:21,920 --> 00:01:24,000
Speaker 2: US products are sold into those nations there will be

27
00:01:24,000 --> 00:01:27,679
Speaker 2: no tariff, so that won't please many people. They also

28
00:01:27,720 --> 00:01:29,520
Speaker 2: come with agreements to invest in the US, so the

29
00:01:29,560 --> 00:01:31,920
Speaker 2: European Union has promised to invest about seven hundred and

30
00:01:31,959 --> 00:01:35,200
Speaker 2: fifty billion US dollars, though it's not clear how that

31
00:01:35,280 --> 00:01:38,280
Speaker 2: will be fulfilled or even if it will be fulfilled.

32
00:01:38,840 --> 00:01:42,480
Speaker 2: Most importantly, the latest set of country insector tariff rates

33
00:01:42,600 --> 00:01:47,319
Speaker 2: still implies a rise in the average US import tariff

34
00:01:47,680 --> 00:01:51,080
Speaker 2: to around twenty percent from fifteen percent through the pores

35
00:01:51,160 --> 00:01:54,040
Speaker 2: ince April. That's according to AMP Shane Oliver. It is

36
00:01:54,160 --> 00:01:56,160
Speaker 2: way higher than the two to three percent at the

37
00:01:56,160 --> 00:01:58,760
Speaker 2: start of the year. That means higher prices for US

38
00:01:58,800 --> 00:02:02,600
Speaker 2: consumers and businesses in the disruption to the US economy

39
00:02:02,880 --> 00:02:04,760
Speaker 2: and potentially global growth.

40
00:02:05,600 --> 00:02:10,200
Speaker 1: Okay, so that's the global picture. Australia was levied with

41
00:02:10,240 --> 00:02:15,440
Speaker 1: a ten percent tariff. If it looks sector specific, here,

42
00:02:15,639 --> 00:02:18,640
Speaker 1: where does it hit hardest? What's going to hurt most?

43
00:02:18,800 --> 00:02:20,800
Speaker 2: Yes, that's a good question. So about one quarter of

44
00:02:20,800 --> 00:02:24,240
Speaker 2: our exports to the US meat products, so that sector

45
00:02:24,240 --> 00:02:29,480
Speaker 2: gets hit hardest. Then comes gold, pharmaceuticals, and transport equipment

46
00:02:30,520 --> 00:02:33,679
Speaker 2: all up. Less than five percent of our exports end

47
00:02:33,800 --> 00:02:39,360
Speaker 2: up in the US, so it's not actually a major

48
00:02:39,400 --> 00:02:43,400
Speaker 2: issue for US directly. At the start of this year,

49
00:02:44,240 --> 00:02:46,640
Speaker 2: tariff's on exports to the US averaged about two percent.

50
00:02:46,680 --> 00:02:50,840
Speaker 2: Today it's kind of about ten to fifteen percent. Aluminium steel,

51
00:02:50,919 --> 00:02:53,880
Speaker 2: probably pharmaceuticals will actually be taxed at a higher rate,

52
00:02:54,120 --> 00:02:58,079
Speaker 2: So if you put that over it, what you kind

53
00:02:58,080 --> 00:03:00,519
Speaker 2: of end up is any tariff is a bad thing.

54
00:03:00,880 --> 00:03:04,799
Speaker 2: So ten percent for Australia compared to two percent, that's

55
00:03:04,880 --> 00:03:09,480
Speaker 2: much worse, and aluminium steel, pharmaceuticals worst off along with

56
00:03:09,520 --> 00:03:11,600
Speaker 2: the meat products, so they're the guys that are going

57
00:03:11,600 --> 00:03:15,680
Speaker 2: to get hit hardest. Financial markets they're really struggling to

58
00:03:15,840 --> 00:03:20,320
Speaker 2: come up with a coherent sort of strategy to trade

59
00:03:20,480 --> 00:03:24,360
Speaker 2: through this turmoil. There is so much uncertainty. So for example,

60
00:03:24,400 --> 00:03:27,280
Speaker 2: Wall Street had its biggest daily four and more than

61
00:03:27,280 --> 00:03:29,119
Speaker 2: two months over the weekend. The S and P five

62
00:03:29,200 --> 00:03:34,160
Speaker 2: hundred fell one point six percent, and that's just so

63
00:03:34,320 --> 00:03:36,680
Speaker 2: much going on that it is very difficult for an

64
00:03:36,720 --> 00:03:38,680
Speaker 2: investor to know exactly what to do.

65
00:03:39,160 --> 00:03:41,760
Speaker 1: Yeah, And to add to the confusion of all of that,

66
00:03:42,040 --> 00:03:45,200
Speaker 1: I mean Wall Street massive fall. There was more to

67
00:03:45,240 --> 00:03:47,839
Speaker 1: it though than just the tariffs. There was another big

68
00:03:47,880 --> 00:03:48,520
Speaker 1: factor as well.

69
00:03:48,560 --> 00:03:51,400
Speaker 2: Yeah. So basically there was weekend that expected US jobs

70
00:03:51,480 --> 00:03:54,840
Speaker 2: data it came out that raised concerns about the health

71
00:03:54,880 --> 00:03:57,880
Speaker 2: of the world's largest economy. The July figures for the

72
00:03:58,120 --> 00:04:00,720
Speaker 2: employment market in the US were lower than expect The

73
00:04:00,800 --> 00:04:03,920
Speaker 2: main June figures were revised down. It took the three

74
00:04:03,920 --> 00:04:07,120
Speaker 2: month average to just thirty five thousand, the weakest stretch

75
00:04:07,160 --> 00:04:10,160
Speaker 2: of jobs growth since twenty ten if you don't include

76
00:04:10,160 --> 00:04:13,760
Speaker 2: the pandemic. So that was a bad news. It got

77
00:04:14,200 --> 00:04:19,640
Speaker 2: more bizarre though, the response from President Donald Trump when

78
00:04:19,640 --> 00:04:23,440
Speaker 2: these numbers came out. He sacked the Bureau of Labor

79
00:04:23,440 --> 00:04:29,040
Speaker 2: Statistics commissioner, a woman called Erica Macintarfa. He said he

80
00:04:29,080 --> 00:04:31,520
Speaker 2: wants to replace wanted to replace her with someone more

81
00:04:31,600 --> 00:04:35,400
Speaker 2: competent because she was massaging the figures. Now, he made

82
00:04:35,400 --> 00:04:39,039
Speaker 2: this complaint previously when it was running against Joe Biden

83
00:04:39,839 --> 00:04:43,120
Speaker 2: after at the end of his first term. Anyway, he

84
00:04:43,160 --> 00:04:47,560
Speaker 2: doesn't like her, so he sacked her. It's actually you

85
00:04:47,640 --> 00:04:51,280
Speaker 2: only hear about these sort of things in dictatorships. You

86
00:04:51,279 --> 00:04:53,400
Speaker 2: would say it does.

87
00:04:53,200 --> 00:04:57,799
Speaker 1: Seem a little odd. I'm being delicate around this, Sean,

88
00:04:57,839 --> 00:04:59,560
Speaker 1: But I'm curious and I don't know whether you know

89
00:04:59,600 --> 00:05:04,320
Speaker 1: the answer. The role of Bureau of Labor Statistics commissioner.

90
00:05:04,440 --> 00:05:06,960
Speaker 1: Is that a political role or is it the equivalent

91
00:05:07,120 --> 00:05:09,800
Speaker 1: of like the head of the Australian Bureau of Statistics.

92
00:05:09,880 --> 00:05:11,640
Speaker 2: And now it's a good point, idiot, say she was

93
00:05:11,680 --> 00:05:15,839
Speaker 2: appointed under Joe Biden. But I don't know off the

94
00:05:15,839 --> 00:05:18,800
Speaker 2: top of my head whether that's a political appointment or

95
00:05:18,800 --> 00:05:22,680
Speaker 2: whether she got the job while Joe Biden was president.

96
00:05:23,120 --> 00:05:27,400
Speaker 1: Okay, all right, anyway, it's not a good look whichever

97
00:05:27,440 --> 00:05:30,680
Speaker 1: way it goes. It's not a great look wrapping up

98
00:05:30,720 --> 00:05:33,559
Speaker 1: markets just quickly. The local market finished down one percent

99
00:05:33,640 --> 00:05:36,040
Speaker 1: on Friday meeting the boss was flat for the week.

100
00:05:36,440 --> 00:05:37,760
Speaker 1: How's it going to open this morning?

101
00:05:38,160 --> 00:05:41,040
Speaker 2: Judging from Wall Street and futures training will probably be lower.

102
00:05:40,800 --> 00:05:44,360
Speaker 1: Michael, Okay, now I've got to mention something else, Sean,

103
00:05:44,680 --> 00:05:49,680
Speaker 1: A bit of a something quite exciting actually, Fear and greed,

104
00:05:50,240 --> 00:05:54,200
Speaker 1: Q and A Sean. It is out every morning, it

105
00:05:54,320 --> 00:05:58,200
Speaker 1: comes out before this show, and every morning we set

106
00:05:58,240 --> 00:06:03,279
Speaker 1: out to answer a question. And for instance, today's question

107
00:06:03,320 --> 00:06:05,440
Speaker 1: that we're answering is what is happening this week in

108
00:06:05,480 --> 00:06:08,160
Speaker 1: the economy and you're talking to our resident economist, Stephen

109
00:06:08,200 --> 00:06:08,760
Speaker 1: could call us.

110
00:06:09,400 --> 00:06:12,120
Speaker 2: Yes, we are, but one thing about fear and Greed

111
00:06:12,200 --> 00:06:15,119
Speaker 2: Q and A. We're going to try and actually get

112
00:06:15,160 --> 00:06:17,120
Speaker 2: to the bottom of things a little bit more so,

113
00:06:17,200 --> 00:06:19,800
Speaker 2: for example, it's not just about what's going to happen

114
00:06:19,880 --> 00:06:23,960
Speaker 2: this week, but also about in this instance why construction

115
00:06:24,080 --> 00:06:27,440
Speaker 2: sector is so important to the Australian economy. And we're

116
00:06:27,440 --> 00:06:29,800
Speaker 2: going to keep running these throughout the week. Fear and

117
00:06:29,839 --> 00:06:32,080
Speaker 2: Greed Q and A. It will come out every morning

118
00:06:32,120 --> 00:06:35,680
Speaker 2: and sometimes it'll be you or I answering the question.

119
00:06:35,839 --> 00:06:39,040
Speaker 2: Are the times it'll be special guests answering the question?

120
00:06:40,080 --> 00:06:42,080
Speaker 2: Kicks off this morning. I'm looking forward to it.

121
00:06:42,200 --> 00:06:45,039
Speaker 1: Yeah, No, it's good fun and you're right, it really does.

122
00:06:45,400 --> 00:06:47,680
Speaker 1: We go a little deeper into some of these questions

123
00:06:47,680 --> 00:06:51,280
Speaker 1: and we deliver some real answers. Well, we hope to.

124
00:06:51,600 --> 00:06:53,880
Speaker 1: That's the optimistic goal here, Sean. You never know what's

125
00:06:53,880 --> 00:06:56,080
Speaker 1: going to happen anyway, quick break, we'll be back in

126
00:06:56,120 --> 00:07:05,880
Speaker 1: a moment with the rest of the day's business. News Sean.

127
00:07:05,960 --> 00:07:09,520
Speaker 1: The Allan labor government in Victoria wants to legislate to

128
00:07:09,680 --> 00:07:12,880
Speaker 1: ensure employees in the state get to work from home

129
00:07:13,080 --> 00:07:14,040
Speaker 1: two days a week.

130
00:07:15,440 --> 00:07:18,000
Speaker 2: I would say this is one of the I mean,

131
00:07:18,040 --> 00:07:21,760
Speaker 2: outside Donald Trump, one of the more extraordinary political announcements

132
00:07:21,800 --> 00:07:22,440
Speaker 2: I think.

133
00:07:23,760 --> 00:07:26,000
Speaker 1: Not least because it seemed to come out of nowhere.

134
00:07:27,400 --> 00:07:28,080
Speaker 1: Was a surprise.

135
00:07:28,440 --> 00:07:30,800
Speaker 2: So basically it was announced that the Labor Party state

136
00:07:30,880 --> 00:07:36,160
Speaker 2: conference over the weekend. Very controversial. Unions love it, businesses

137
00:07:36,560 --> 00:07:40,600
Speaker 2: hate it. Undoubtedly will face legal challenges, Alan said, I'll

138
00:07:40,640 --> 00:07:44,240
Speaker 2: quote from a work from home works for families and

139
00:07:44,280 --> 00:07:46,360
Speaker 2: it's good for the economy. Not everyone can work from home,

140
00:07:46,400 --> 00:07:48,480
Speaker 2: but everyone can benefit if you can do your job

141
00:07:48,520 --> 00:07:51,520
Speaker 2: from home. Will make it your right because we're on

142
00:07:51,560 --> 00:07:55,840
Speaker 2: your side now. Alan suggested the Equal Opportunity Act, which

143
00:07:55,880 --> 00:07:59,000
Speaker 2: protects personal attributes such as race and sex, will be

144
00:07:59,040 --> 00:08:03,120
Speaker 2: amended to prevent employers from discriminating against people who want

145
00:08:03,160 --> 00:08:08,560
Speaker 2: to work from home. The cynics, Oh, maybe I shouldn't

146
00:08:08,560 --> 00:08:13,520
Speaker 2: say cynics, Michael. Maybe it's just the political personnel. They're

147
00:08:13,560 --> 00:08:16,640
Speaker 2: basically saying that they want to pass the legislation next

148
00:08:16,760 --> 00:08:21,320
Speaker 2: year before Victoria goes to the polls in November. Because

149
00:08:21,320 --> 00:08:23,560
Speaker 2: this is a vote winner. You would imagine people being

150
00:08:23,560 --> 00:08:26,160
Speaker 2: able to work from home, and they want to pass

151
00:08:26,200 --> 00:08:30,280
Speaker 2: it and that way it will be legislated that for

152
00:08:30,320 --> 00:08:32,560
Speaker 2: two days a week you can work from home. Now,

153
00:08:32,960 --> 00:08:34,839
Speaker 2: of course there's a bunch of jobs. How does a

154
00:08:34,880 --> 00:08:35,760
Speaker 2: tradeing work from home?

155
00:08:36,080 --> 00:08:37,600
Speaker 1: How's a police officer working from home?

156
00:08:37,640 --> 00:08:38,960
Speaker 2: How's the police officer work from heart?

157
00:08:40,360 --> 00:08:43,640
Speaker 1: I tell you what. This is going to be the

158
00:08:43,679 --> 00:08:46,200
Speaker 1: subject of a lot of conversation, and not just because

159
00:08:46,200 --> 00:08:49,080
Speaker 1: it's controversial within Victoria, but it has the potential to

160
00:08:49,160 --> 00:08:50,640
Speaker 1: set a precedent for other states.

161
00:08:51,080 --> 00:08:51,880
Speaker 2: Yeah, yeah, yeah.

162
00:08:52,200 --> 00:08:54,520
Speaker 1: So this is a big, big story and as we said,

163
00:08:54,559 --> 00:08:58,880
Speaker 1: it came out of nowhere, which was part of why

164
00:08:59,200 --> 00:09:03,559
Speaker 1: such an a remarkable story now. Seawan police estimate that

165
00:09:03,840 --> 00:09:07,920
Speaker 1: ninety thousand people marched across the Sydney Harbor Bridge yesterday

166
00:09:07,960 --> 00:09:10,280
Speaker 1: in a pro Palestinian rally, while I was also a

167
00:09:10,320 --> 00:09:11,640
Speaker 1: sizable rally in Melbourne.

168
00:09:11,720 --> 00:09:14,080
Speaker 2: In Sydney, the Harbor Bridge was closed for several hours

169
00:09:14,120 --> 00:09:17,599
Speaker 2: after police said they feared a crush on public transport

170
00:09:17,640 --> 00:09:20,000
Speaker 2: if marches weren't allowed to return the same way they came.

171
00:09:20,360 --> 00:09:24,360
Speaker 2: Of course, permissions for the march took days and days

172
00:09:24,440 --> 00:09:28,120
Speaker 2: eventually did go ahead. It was extremely wet in Sydney yesterday,

173
00:09:28,200 --> 00:09:30,959
Speaker 2: so i'd imagine that keet the numbers down. Organizers said

174
00:09:30,960 --> 00:09:34,280
Speaker 2: two to three hundred thousand, Police said ninety thousand. In Melbourne,

175
00:09:34,320 --> 00:09:37,600
Speaker 2: the CBD was a focal point, not as many in

176
00:09:37,679 --> 00:09:41,880
Speaker 2: terms of numbers, while there were sort of times protesters

177
00:09:41,880 --> 00:09:44,000
Speaker 2: and police really look to be facing up to each other,

178
00:09:44,040 --> 00:09:47,640
Speaker 2: particularly around some of the retailers down there, but fortunately

179
00:09:47,679 --> 00:09:50,200
Speaker 2: the marches in both city were relatively peaceful.

180
00:09:50,720 --> 00:09:54,160
Speaker 1: The Productivity Commission has suggested a cut to the company

181
00:09:54,240 --> 00:09:57,480
Speaker 1: tax rate by up to ten percentage points for businesses

182
00:09:57,480 --> 00:10:00,440
Speaker 1: with revenue under a billion dollars, while adding a new

183
00:10:00,600 --> 00:10:04,880
Speaker 1: five percent net cash flow tax for all companies that

184
00:10:04,960 --> 00:10:07,120
Speaker 1: leave some exposed to higher taxes.

185
00:10:07,640 --> 00:10:10,720
Speaker 2: So this is really interesting. The proposal sent to Federal

186
00:10:10,720 --> 00:10:14,320
Speaker 2: Treasurer Jim Charmers would lift the effective tax rate on

187
00:10:14,360 --> 00:10:18,600
Speaker 2: Australia's five hundred biggest companies, while ninety nine percent of

188
00:10:18,600 --> 00:10:22,760
Speaker 2: companies would actually pay less tax. So the banks, the supermarkets,

189
00:10:22,760 --> 00:10:25,800
Speaker 2: the miners, the big telcos, they'll still pay a tax

190
00:10:25,840 --> 00:10:30,320
Speaker 2: rate of thirty percent plus this new cash flow tax.

191
00:10:31,000 --> 00:10:35,360
Speaker 2: Smaller businesses would pay just twenty percent. The draft proposal

192
00:10:35,400 --> 00:10:39,440
Speaker 2: for two T corporate tax system, made in an interim

193
00:10:39,480 --> 00:10:42,760
Speaker 2: report commission by Charmers and released by the Commission late

194
00:10:42,840 --> 00:10:46,720
Speaker 2: last week, is likely to divide the business community. Certainly,

195
00:10:46,760 --> 00:10:49,040
Speaker 2: those paying extra tax won't be happy. Those paying less

196
00:10:49,080 --> 00:10:51,880
Speaker 2: tax might be. The Productivity Commissions so that the proposer

197
00:10:51,880 --> 00:10:54,400
Speaker 2: would encourage more investment in tools and technology to make

198
00:10:54,480 --> 00:10:59,040
Speaker 2: workers more productive. Charmers welcomed the Commission's work and released

199
00:10:59,040 --> 00:11:02,920
Speaker 2: an official agenda for the government's economic reform around table

200
00:11:03,000 --> 00:11:03,839
Speaker 2: late this month.

201
00:11:04,320 --> 00:11:06,400
Speaker 1: You know what I like about this is that it

202
00:11:06,600 --> 00:11:09,360
Speaker 1: increases the hope that we will get some big ideas

203
00:11:09,559 --> 00:11:10,880
Speaker 1: coming out of this round table.

204
00:11:11,000 --> 00:11:13,200
Speaker 2: Very good point. Yeah, which which.

205
00:11:13,040 --> 00:11:14,640
Speaker 1: Is I mean, that's what you want, right, You're just

206
00:11:14,679 --> 00:11:18,240
Speaker 1: about you just want some new ideas, some big ideas,

207
00:11:18,240 --> 00:11:19,160
Speaker 1: and I think this is one of them.

208
00:11:19,280 --> 00:11:19,480
Speaker 2: Now.

209
00:11:19,600 --> 00:11:23,040
Speaker 1: National dwelling values rose by zero point six percent in July,

210
00:11:23,200 --> 00:11:26,000
Speaker 1: with every capital city recording increases.

211
00:11:26,240 --> 00:11:31,080
Speaker 2: Guess which was the highest increase? Which city? You won't

212
00:11:31,080 --> 00:11:32,160
Speaker 2: get it? Darwin?

213
00:11:33,200 --> 00:11:36,120
Speaker 1: I'm glad I didn't guess. I wasn't going to guess Darwin.

214
00:11:36,120 --> 00:11:38,880
Speaker 2: Two point two percent, followed by Perth, one percent. The

215
00:11:39,080 --> 00:11:42,719
Speaker 2: most sluggish cities Hobart, Melbourne and the Act. But the

216
00:11:42,760 --> 00:11:45,240
Speaker 2: point is they're all going in the right direction. Well,

217
00:11:45,240 --> 00:11:47,240
Speaker 2: certainly if you're a homeowner, they're going in the right direction.

218
00:11:47,640 --> 00:11:50,640
Speaker 2: Meeting values arising one point two million in Sydney, Brizzy

219
00:11:50,720 --> 00:11:54,680
Speaker 2: is at nine hundred or well over nine hundred thousand, Canberra, Adelaide,

220
00:11:54,679 --> 00:11:56,840
Speaker 2: Perth and Melbourne in that order, all in the eight

221
00:11:56,960 --> 00:12:01,080
Speaker 2: hundred thousand dollars range. All of this, of course, is

222
00:12:01,080 --> 00:12:05,640
Speaker 2: happening before any further interest rate cuts, so we expect

223
00:12:05,679 --> 00:12:09,400
Speaker 2: one of those shortly. It'll be interesting to see whether

224
00:12:09,440 --> 00:12:13,760
Speaker 2: the prices continue to rise. Just briefly, the auction results

225
00:12:13,800 --> 00:12:16,199
Speaker 2: of the weekend. The preliminary clear and Straight came in

226
00:12:16,240 --> 00:12:18,839
Speaker 2: at seventy two point three percent, holding above seventy percent

227
00:12:18,880 --> 00:12:21,559
Speaker 2: for the eighth consecutive week. Sydney did the way at about

228
00:12:21,480 --> 00:12:23,840
Speaker 2: seventy five. Melbourne was just under seventy two percent.

229
00:12:24,360 --> 00:12:27,160
Speaker 1: Sean a deal for Star Entertainment to sell it's fifty

230
00:12:27,200 --> 00:12:30,640
Speaker 1: percent ownership in the Queenswarf hotel and casino complex in

231
00:12:30,679 --> 00:12:34,360
Speaker 1: Brisbane has collapsed, opening the ASX listed group to a

232
00:12:34,440 --> 00:12:37,600
Speaker 1: forty one million dollar payment to the potential buyers.

233
00:12:37,679 --> 00:12:41,199
Speaker 2: So the buyers Chow fey Fook Enterprises and Farias Consort

234
00:12:41,280 --> 00:12:44,200
Speaker 2: Him already own the other fifty percent of the complex,

235
00:12:44,200 --> 00:12:46,880
Speaker 2: so the breakup is going to be difficult. The collapse

236
00:12:46,920 --> 00:12:48,400
Speaker 2: of the deal means Star is on the hook for

237
00:12:48,440 --> 00:12:51,160
Speaker 2: almost one billion dollars in debt. It will look for

238
00:12:51,200 --> 00:12:54,640
Speaker 2: alternative options for its fifty percent stake. Starshare price dropped

239
00:12:54,679 --> 00:13:00,760
Speaker 2: fifteen percent on Friday. For four years ago, a Star

240
00:13:00,920 --> 00:13:04,920
Speaker 2: share was worth nearly four dollars today, that worth about

241
00:13:05,240 --> 00:13:06,680
Speaker 2: nine cents.

242
00:13:07,240 --> 00:13:10,120
Speaker 1: Ouch yeah, I think out sums it up well sewn. Now.

243
00:13:10,280 --> 00:13:15,079
Speaker 1: Bowen Coking Coal has gone into voluntary administration following its

244
00:13:15,080 --> 00:13:18,439
Speaker 1: failure to secure fresh capital or striker deal with its

245
00:13:18,520 --> 00:13:21,560
Speaker 1: largest creditors BUMA and the Queensland Government.

246
00:13:21,720 --> 00:13:25,319
Speaker 2: Ni Battle Coal miner, whose shares had recently been suspended

247
00:13:25,320 --> 00:13:28,640
Speaker 2: from the AX, said it was unable to negotiate alternative

248
00:13:28,640 --> 00:13:33,080
Speaker 2: commercial arrangements. The decision to appoint administrators is very disappointing,

249
00:13:33,280 --> 00:13:36,800
Speaker 2: it says, and it follows a recent rejection by the

250
00:13:36,880 --> 00:13:40,280
Speaker 2: Queensland Government for the short term deferral of royalties. The

251
00:13:40,280 --> 00:13:44,120
Speaker 2: board's decision also reflects the current challenging environment for the

252
00:13:44,120 --> 00:13:48,599
Speaker 2: coal industry in Queensland from high costs lower global coal prices.

253
00:13:49,000 --> 00:13:51,520
Speaker 2: The other big one for the coal miners in Queensland

254
00:13:51,559 --> 00:13:54,800
Speaker 2: the high royalty rates introduced by the Queensland government in

255
00:13:54,840 --> 00:13:55,680
Speaker 2: twenty twenty two.

256
00:13:55,960 --> 00:13:58,760
Speaker 1: Now, this last one, Sean is probably better suited to

257
00:13:58,840 --> 00:14:01,480
Speaker 1: our sister podcast, do they afford that? They're definitely worth

258
00:14:01,480 --> 00:14:05,000
Speaker 1: a run still on Fear and Greed, The Australian has

259
00:14:05,000 --> 00:14:08,000
Speaker 1: put together a list of ten smart ways to save

260
00:14:08,120 --> 00:14:11,280
Speaker 1: money each week on your grocery bill, and the first

261
00:14:11,320 --> 00:14:13,240
Speaker 1: one is shop with a list.

262
00:14:13,679 --> 00:14:14,240
Speaker 2: Do you do that?

263
00:14:15,360 --> 00:14:18,439
Speaker 1: Well, the thing is yes, but we do all of

264
00:14:18,480 --> 00:14:23,080
Speaker 1: our shopping, every single bit of it online the grocery.

265
00:14:22,720 --> 00:14:26,200
Speaker 2: Really, so that's one of the hacks of this too.

266
00:14:26,280 --> 00:14:29,040
Speaker 2: Do it online because you're less likely to have the

267
00:14:29,080 --> 00:14:30,360
Speaker 2: impulse by Yeah.

268
00:14:30,160 --> 00:14:32,000
Speaker 1: You're not walking past the end of the aisle and

269
00:14:32,040 --> 00:14:34,160
Speaker 1: you see something that's two for one and you chuck

270
00:14:34,200 --> 00:14:36,080
Speaker 1: it all into the trolley. You still kind of get

271
00:14:36,080 --> 00:14:37,880
Speaker 1: a few of those bits and pieces, but in the end,

272
00:14:38,160 --> 00:14:40,720
Speaker 1: the platform, whether it's woolies or coals or whatever it

273
00:14:40,760 --> 00:14:43,800
Speaker 1: is, is actually prompting you, hey, did you remember to get this?

274
00:14:43,880 --> 00:14:47,640
Speaker 1: You normally buy this. It's just so easy quickly. Yeah, anyway,

275
00:14:47,680 --> 00:14:49,840
Speaker 1: and you can watch the total add up as well

276
00:14:49,880 --> 00:14:52,360
Speaker 1: as you're going, so that you can shop to a budget.

277
00:14:52,400 --> 00:14:55,560
Speaker 2: Then, so I'm a bit of an enthusiast you are,

278
00:14:55,680 --> 00:14:58,440
Speaker 2: so if you're actually going to the store, shop with

279
00:14:58,440 --> 00:15:03,160
Speaker 2: a list, don't shop. I can fall into that issue.

280
00:15:03,440 --> 00:15:06,440
Speaker 2: I use unit pricing. I think you know pricing is fantastic.

281
00:15:07,440 --> 00:15:09,840
Speaker 2: Use AI do the league work, you know, make meal

282
00:15:09,880 --> 00:15:11,680
Speaker 2: plans and then only buy what you need.

283
00:15:12,520 --> 00:15:14,280
Speaker 1: Idea chat GPT is great for that.

284
00:15:15,560 --> 00:15:17,880
Speaker 2: I like this one. Look up and down the shelves,

285
00:15:18,840 --> 00:15:21,120
Speaker 2: so you know, you go and what's in front of

286
00:15:21,160 --> 00:15:24,440
Speaker 2: you you tend to get. But sometimes you know a

287
00:15:24,600 --> 00:15:28,480
Speaker 2: cheaper product is higher or lower on the same area.

288
00:15:28,640 --> 00:15:31,200
Speaker 1: It's typically look just pay the most to actually be

289
00:15:31,240 --> 00:15:36,200
Speaker 1: positioned at if you're elsewhere buying online's ak use apps

290
00:15:36,240 --> 00:15:37,040
Speaker 1: to save money.

291
00:15:37,160 --> 00:15:40,720
Speaker 2: Shop seasonally. And that's actually a really smart idea for

292
00:15:40,720 --> 00:15:42,720
Speaker 2: fruit and vegs and stuff like that. By the stuff

293
00:15:42,720 --> 00:15:43,200
Speaker 2: it's cheap.

294
00:15:43,880 --> 00:15:46,400
Speaker 1: I tried telling that to families with kids who only

295
00:15:46,440 --> 00:15:50,360
Speaker 1: eat like blueberries and things are paying seven dollars off season.

296
00:15:50,960 --> 00:15:53,960
Speaker 2: It's a killer. The other couple of Clay reward points

297
00:15:54,000 --> 00:15:56,000
Speaker 2: and look beyond the brand names.

298
00:15:57,880 --> 00:16:00,640
Speaker 1: I love that great least. I love anything with the Senate. Sean,

299
00:16:00,680 --> 00:16:03,800
Speaker 1: you got me up. Next in the playlist is Fear

300
00:16:03,840 --> 00:16:06,840
Speaker 1: and Greed Q and A Today, as we mentioned, asking

301
00:16:06,880 --> 00:16:09,600
Speaker 1: our resident economist Stephen could call us about what's going

302
00:16:09,640 --> 00:16:11,880
Speaker 1: to happen to interest rates and why economists and the

303
00:16:11,880 --> 00:16:15,120
Speaker 1: Reserve Bank cares so much about the construction sector. It

304
00:16:15,200 --> 00:16:16,880
Speaker 1: is coming up in the Fear and Greed playlist on

305
00:16:16,920 --> 00:16:19,880
Speaker 1: your podcast platform or at Fearandgreed dot com todau, which

306
00:16:19,880 --> 00:16:21,720
Speaker 1: is where you sign up for the free daily newsletter.

307
00:16:21,720 --> 00:16:24,200
Speaker 1: Thank you Sean, Thank you Michael. It is Monday, the

308
00:16:24,280 --> 00:16:26,480
Speaker 1: fourth of August twenty twenty five. Make sure you're following

309
00:16:26,480 --> 00:16:29,239
Speaker 1: the podcast and please join us online on LinkedIn, Instagram,

310
00:16:29,280 --> 00:16:31,840
Speaker 1: ex TikTok and Facebook. I'm Michael Thompson and that was

311
00:16:31,880 --> 00:16:33,600
Speaker 1: Fear and Greed. Have a great day.