1 00:00:06,240 --> 00:00:09,360 Speaker 1: Welcome to fear and greed business news you can use today. 2 00:00:09,480 --> 00:00:12,400 Speaker 1: House prices in Sydney and Melbourne fall while the other 3 00:00:12,480 --> 00:00:15,720 Speaker 1: capitals and regions do well. Junior pay rates to be 4 00:00:15,760 --> 00:00:19,800 Speaker 1: abolished in fast food, retail and pharmacy businesses. And big 5 00:00:19,920 --> 00:00:23,279 Speaker 1: changes to credit card surcharges set to save consumers one 6 00:00:23,320 --> 00:00:25,000 Speaker 1: point six billion dollars. 7 00:00:25,280 --> 00:00:25,640 Speaker 2: Plus. 8 00:00:25,680 --> 00:00:29,200 Speaker 1: Telstra's mobile coverage map has redrawn and get set for 9 00:00:29,320 --> 00:00:33,040 Speaker 1: humanity's first mission to the Moon in fifty three years. 10 00:00:33,080 --> 00:00:36,040 Speaker 1: It is Wednesday, the first of April twenty twenty six. 11 00:00:36,360 --> 00:00:38,800 Speaker 1: I'm Michael Thompson and good morning Sean, Aylmer. 12 00:00:39,440 --> 00:00:42,120 Speaker 2: Oh with a glee in your voice about the mission 13 00:00:42,159 --> 00:00:42,600 Speaker 2: to the moon. 14 00:00:42,920 --> 00:00:44,320 Speaker 1: Oh, I just want to skip to the end of 15 00:00:44,320 --> 00:00:46,839 Speaker 1: the show and get to the good stuff. But we've 16 00:00:46,840 --> 00:00:48,479 Speaker 1: got to get to the other business news. 17 00:00:48,320 --> 00:00:49,479 Speaker 2: Many ways in the meantime. 18 00:00:49,520 --> 00:00:53,440 Speaker 1: Michael, That's right, plenty of news, all very worthy. 19 00:00:53,479 --> 00:00:53,800 Speaker 2: Sean. 20 00:00:54,440 --> 00:00:57,080 Speaker 1: Let's get into it the main story this morning, Sean. 21 00:00:57,240 --> 00:01:00,560 Speaker 1: At Sydney and Melbourne, house prices have gone back goods 22 00:01:00,680 --> 00:01:04,160 Speaker 1: so far in twenty twenty six, with more expensive homes 23 00:01:04,200 --> 00:01:08,360 Speaker 1: falling most. Meanwhile, Perth and Brisbane prices just keep on 24 00:01:08,560 --> 00:01:12,679 Speaker 1: charging ahead. While Regional Australia outperforms the capital. 25 00:01:12,360 --> 00:01:17,679 Speaker 2: Cities across the country. Catality's National Home Value Index, which 26 00:01:17,760 --> 00:01:21,240 Speaker 2: is taken as the Bible of house values, I would 27 00:01:21,240 --> 00:01:24,720 Speaker 2: say ray zero point seven percent in March, taking dwelling 28 00:01:24,959 --> 00:01:28,319 Speaker 2: values two point one percent higher over the first quarter 29 00:01:28,319 --> 00:01:31,240 Speaker 2: of the year. That's at the national level, bit of 30 00:01:31,280 --> 00:01:34,319 Speaker 2: a slow down from the December quarter, but the real story, 31 00:01:34,400 --> 00:01:37,680 Speaker 2: or the full story, is very specific to different geographies. 32 00:01:37,920 --> 00:01:41,520 Speaker 2: The country's two biggest cities, Sydney and Melbourne, are feeling 33 00:01:41,600 --> 00:01:45,279 Speaker 2: the pain most. Melbourne prices fell zero point six percent 34 00:01:45,360 --> 00:01:48,800 Speaker 2: during the quarter. They're down nearly one percent since late 35 00:01:48,880 --> 00:01:51,480 Speaker 2: last year. Might not sound like much, but for a 36 00:01:51,520 --> 00:01:54,160 Speaker 2: country use to watching house prices rise and rise and 37 00:01:54,240 --> 00:01:56,760 Speaker 2: rise and rise and rise, any declines a bit of 38 00:01:56,800 --> 00:01:59,840 Speaker 2: a shock. Sydney prices down zero point two percent of 39 00:01:59,880 --> 00:02:03,160 Speaker 2: the quarter. They're off about zero point four percent since 40 00:02:03,520 --> 00:02:06,800 Speaker 2: late last year. In both cities, there's been a pickup 41 00:02:06,840 --> 00:02:09,799 Speaker 2: in supply, something that's been missing for a couple of years, 42 00:02:10,080 --> 00:02:13,440 Speaker 2: that provides buyers with more choice, less urgency. According to 43 00:02:13,440 --> 00:02:17,400 Speaker 2: Cotalities research director Tim Lawless, reading between the lines on 44 00:02:17,440 --> 00:02:20,720 Speaker 2: that less about interest rates, more about supply. 45 00:02:20,880 --> 00:02:25,360 Speaker 1: Michael Sean I reckon the single most extraordinary story within 46 00:02:25,440 --> 00:02:28,840 Speaker 1: all of this data comes from the mid size capitals, 47 00:02:28,840 --> 00:02:32,280 Speaker 1: and in particular Perth, because it just continues to boom. 48 00:02:32,480 --> 00:02:36,320 Speaker 1: Right as median dwelling value jumped more than seven percent 49 00:02:36,720 --> 00:02:40,200 Speaker 1: during the March quarter alone, seven percent and one quarter 50 00:02:40,600 --> 00:02:45,440 Speaker 1: twenty four percent over the past year. Is that is 51 00:02:45,480 --> 00:02:46,640 Speaker 1: that even sustainable? 52 00:02:48,639 --> 00:02:52,880 Speaker 2: Well? No, But Tim Lawless, he's the guru. He says no. 53 00:02:53,080 --> 00:02:55,639 Speaker 2: So that's why I can say no so confidently. Good Yep, 54 00:02:55,840 --> 00:02:59,079 Speaker 2: that seven percent jump during the March quarter is worth 55 00:02:59,120 --> 00:03:02,640 Speaker 2: about a sixty nine one thousand dollars. People can't just 56 00:03:02,720 --> 00:03:06,079 Speaker 2: keep paying that much more for a home now. In 57 00:03:06,200 --> 00:03:09,080 Speaker 2: Perth it is being supported by low supply. Right, So 58 00:03:09,120 --> 00:03:12,000 Speaker 2: we talked about Sydney and Melbourne coming off much better. 59 00:03:12,040 --> 00:03:15,160 Speaker 2: Supply there not so much in Perth. Brisbane is next best, 60 00:03:15,240 --> 00:03:17,680 Speaker 2: up five percent during the quarter, nearly twenty percent over 61 00:03:17,720 --> 00:03:21,320 Speaker 2: the past year. Adelaide Darwin Hobart there will been strong. 62 00:03:21,680 --> 00:03:25,240 Speaker 2: The other big trend, which you mentioned, Michael, is strength 63 00:03:25,440 --> 00:03:28,160 Speaker 2: in the bottom end of the market. That's pretty much 64 00:03:28,160 --> 00:03:31,320 Speaker 2: the case across all capital cities. A couple of exceptions 65 00:03:31,320 --> 00:03:34,960 Speaker 2: there Hobart and Canberra, most pronounced in Sydney, though the 66 00:03:35,000 --> 00:03:37,880 Speaker 2: lower quartial house prices in Sydney during the March quarter 67 00:03:38,200 --> 00:03:41,440 Speaker 2: they are up nearly two percent. The upper quarters were 68 00:03:41,520 --> 00:03:45,280 Speaker 2: down two percent. A couple of things going on. There 69 00:03:45,440 --> 00:03:48,200 Speaker 2: much more competition for lower priced housing. That's thanks to 70 00:03:48,240 --> 00:03:51,240 Speaker 2: government policy First Home Buy. It's getting back into the 71 00:03:51,280 --> 00:03:54,120 Speaker 2: market investors buying in that side of the market. On 72 00:03:54,160 --> 00:03:58,120 Speaker 2: the other end, serviceability constraints are hurting the upper end, 73 00:03:58,480 --> 00:04:02,880 Speaker 2: so it's really interesting to see the best price increases 74 00:04:03,400 --> 00:04:05,320 Speaker 2: are coming out of the cheapest homes. 75 00:04:05,960 --> 00:04:10,680 Speaker 1: Okay and the regions, as well as showing a fairly 76 00:04:10,720 --> 00:04:13,840 Speaker 1: significant amount of resilience to the slowdown. Values were up 77 00:04:13,880 --> 00:04:16,480 Speaker 1: one point one percent for the month three point three 78 00:04:16,560 --> 00:04:19,760 Speaker 1: percent for the quarter. Perhaps not surprisingly based on what 79 00:04:19,800 --> 00:04:22,760 Speaker 1: we've just been talking about, Regional WA stands out. 80 00:04:23,279 --> 00:04:25,760 Speaker 2: Yes, Western Australia is the standout state has been for 81 00:04:25,800 --> 00:04:28,599 Speaker 2: a while over the past five years. Both Perth house 82 00:04:28,680 --> 00:04:32,919 Speaker 2: prices and regional WA house prices five years up around 83 00:04:33,080 --> 00:04:38,599 Speaker 2: ninety percent same period Melbourne eight point five percent, Regional 84 00:04:38,680 --> 00:04:42,240 Speaker 2: Victoria twenty five percent. It just shows how hot a 85 00:04:42,320 --> 00:04:45,720 Speaker 2: market Western Australia has been. Big question is whether or 86 00:04:45,760 --> 00:04:47,120 Speaker 2: not that can be maintained. 87 00:04:47,600 --> 00:04:51,640 Speaker 1: Yeah, indeed, okay, moving away from house prices now shown. 88 00:04:51,760 --> 00:04:56,480 Speaker 1: The Fair Work Commission has abolished junior rates in fast food, 89 00:04:56,839 --> 00:05:01,040 Speaker 1: retail and pharmacies, meaning eighteen to twenty year old will 90 00:05:01,080 --> 00:05:04,640 Speaker 1: be paid the full adult rate, which will push up 91 00:05:04,680 --> 00:05:07,279 Speaker 1: the wages bill of some of the country's biggest employers. 92 00:05:07,800 --> 00:05:10,520 Speaker 2: More than five hundred thousand young workers will receive pay 93 00:05:10,640 --> 00:05:13,800 Speaker 2: rises of up to forty two percent. The new rates 94 00:05:13,800 --> 00:05:15,760 Speaker 2: will be phased in over a four year period from 95 00:05:15,760 --> 00:05:18,600 Speaker 2: the end of the year. Now, I think big supermarkets, 96 00:05:18,560 --> 00:05:22,000 Speaker 2: so Woollies, Coals, the big fast food giants McDonald's, Dominos, 97 00:05:22,000 --> 00:05:24,280 Speaker 2: They're going to be crunched by that. This because at 98 00:05:24,320 --> 00:05:27,000 Speaker 2: the moment, Michael, an eighteen year old gets about seventy 99 00:05:27,040 --> 00:05:30,200 Speaker 2: percent of an adult wage, nineen year old eighty percent, 100 00:05:30,279 --> 00:05:33,240 Speaker 2: twenty year old ninety percent. All of those guys are 101 00:05:33,279 --> 00:05:35,880 Speaker 2: going to that twenty one year old wage rate. The 102 00:05:35,920 --> 00:05:40,479 Speaker 2: Shop Distributive and Allied Employees Association the union, argued that 103 00:05:40,520 --> 00:05:42,640 Speaker 2: many young workers had started when they were fifteen or 104 00:05:42,640 --> 00:05:45,760 Speaker 2: sixteen years old, that similar skills to adults. The union 105 00:05:45,839 --> 00:05:49,080 Speaker 2: also argued that higher wages were needed to increase standards 106 00:05:49,080 --> 00:05:51,360 Speaker 2: of living for low paid. The Fair Work Commission decided 107 00:05:51,400 --> 00:05:54,679 Speaker 2: not to raise rates for workers under eighteen years of age. Currently, 108 00:05:54,680 --> 00:05:59,520 Speaker 2: seventeen year olds get paid sixty percent of an adult rate. Like, 109 00:05:59,600 --> 00:06:01,520 Speaker 2: I think it's great that eight end twenty year olds 110 00:06:01,520 --> 00:06:04,160 Speaker 2: are being paid the full autut rate. I hope this 111 00:06:04,240 --> 00:06:05,800 Speaker 2: doesn't mean that the will is in colors of the 112 00:06:05,800 --> 00:06:09,039 Speaker 2: world decide not to employ all the UNI students out 113 00:06:09,040 --> 00:06:11,120 Speaker 2: there and people like that because they're going to be 114 00:06:11,279 --> 00:06:14,440 Speaker 2: just as expensive as an adult, and so maybe they 115 00:06:14,440 --> 00:06:16,719 Speaker 2: won't employ them. Like, there's two sides of this story. 116 00:06:17,080 --> 00:06:19,360 Speaker 1: Oh yeah, absolutely, And I remember kind of when I 117 00:06:19,440 --> 00:06:21,320 Speaker 1: was working while I was a New India. 118 00:06:21,360 --> 00:06:23,040 Speaker 2: We're going to hear your stories about what was the 119 00:06:23,120 --> 00:06:26,560 Speaker 2: dodgy store you worked in country Newst Wiles. 120 00:06:26,880 --> 00:06:32,960 Speaker 1: Dodgy store are you talking about bylow Byelow by low 121 00:06:33,160 --> 00:06:36,800 Speaker 1: by Low It was a fantastic supermarket and I was 122 00:06:36,880 --> 00:06:40,839 Speaker 1: a fantastic Here I am giving an appraisal of my 123 00:06:40,880 --> 00:06:43,599 Speaker 1: own performance, but I was a very good checkout chap. 124 00:06:44,400 --> 00:06:46,760 Speaker 1: And you would get a lot of shifts if you're 125 00:06:46,800 --> 00:06:50,120 Speaker 1: working as an eighteen nineteen year old and because you 126 00:06:50,200 --> 00:06:52,679 Speaker 1: were a little bit cheaper. So hopefully that does still 127 00:06:52,720 --> 00:06:54,960 Speaker 1: continue because it does give you that experience unless you 128 00:06:55,000 --> 00:06:55,799 Speaker 1: earn a bit of cash. 129 00:06:56,160 --> 00:06:56,440 Speaker 2: Shaw On. 130 00:06:56,839 --> 00:07:00,000 Speaker 1: The local share market closed up at zero point two 131 00:07:00,200 --> 00:07:03,160 Speaker 1: five percent yesterday to eighty four hundred and eighty two 132 00:07:03,240 --> 00:07:07,359 Speaker 1: points yesterday. It was largely after US President Donald Trump 133 00:07:07,400 --> 00:07:09,320 Speaker 1: was reported to have said that he is prepared to 134 00:07:09,560 --> 00:07:13,360 Speaker 1: end the Iran war even if the Strait of Hormuz 135 00:07:13,920 --> 00:07:19,080 Speaker 1: remains closed. After initially falling about half a percent, the 136 00:07:19,200 --> 00:07:21,960 Speaker 1: Wall Street Journal report of Trump's comments sent oil prices 137 00:07:21,960 --> 00:07:23,240 Speaker 1: lower and share markets higher. 138 00:07:24,000 --> 00:07:27,600 Speaker 2: Yes So yesterday's rise meant the market ended the month 139 00:07:27,720 --> 00:07:31,720 Speaker 2: of March down almost eight percent. That's the worst month 140 00:07:31,960 --> 00:07:35,480 Speaker 2: since March twenty twenty two. For the quarter, it was 141 00:07:35,520 --> 00:07:37,600 Speaker 2: down about three percent for the period. The miners and 142 00:07:37,640 --> 00:07:41,120 Speaker 2: the tech stocks did worst. Energy companies did best, down 143 00:07:41,160 --> 00:07:43,720 Speaker 2: three percent for a month. I wouldn't call that a 144 00:07:43,760 --> 00:07:47,320 Speaker 2: glorious month by any stretch. Having said that the tech 145 00:07:47,400 --> 00:07:51,000 Speaker 2: stocks were the worst performers with the miners yesterday, of course, 146 00:07:51,160 --> 00:07:53,440 Speaker 2: right on q they were the best performers zero wise 147 00:07:53,480 --> 00:07:58,200 Speaker 2: to global technology one all jumped holping that sector as 148 00:07:58,280 --> 00:08:01,000 Speaker 2: well as gold stocks. Were comments from US Federal Reserve 149 00:08:01,320 --> 00:08:05,680 Speaker 2: Chief Jerome Powell yesterday morning early Australian time. He sort 150 00:08:05,680 --> 00:08:07,680 Speaker 2: of opened the door for further rate cards. What you mean, 151 00:08:08,160 --> 00:08:11,160 Speaker 2: It's not that the door was closed, It was slightly 152 00:08:11,200 --> 00:08:14,560 Speaker 2: open and it's been pushed a little further open. It 153 00:08:14,600 --> 00:08:17,760 Speaker 2: was a jar just to pay that, but I couldn't 154 00:08:17,800 --> 00:08:18,600 Speaker 2: quite work it in. 155 00:08:19,560 --> 00:08:23,920 Speaker 1: Yeah, no, just I clearly didn't wait for an opportunity, 156 00:08:24,040 --> 00:08:28,080 Speaker 1: just just blundered straight through there, Sean, Yep, Okay, plenty 157 00:08:28,160 --> 00:08:30,720 Speaker 1: still to come, including the story we are all waiting 158 00:08:30,760 --> 00:08:35,720 Speaker 1: for the moon story. Sean, sit tight, We'll get to 159 00:08:35,760 --> 00:08:37,319 Speaker 1: it shortly, back in a moment with the rest of 160 00:08:37,360 --> 00:08:48,800 Speaker 1: the day's business news. Sean surcharges on debit and credit 161 00:08:48,880 --> 00:08:52,040 Speaker 1: cards will be banned, and the cap on credit card 162 00:08:52,320 --> 00:08:56,520 Speaker 1: interchange fees, which is paid by merchants to banks, will 163 00:08:56,520 --> 00:08:59,240 Speaker 1: be reduced from a zero point eight percent to zero 164 00:08:59,320 --> 00:09:01,920 Speaker 1: point three per cent of the value of the transaction 165 00:09:02,120 --> 00:09:05,719 Speaker 1: from one October. Banks expect the changes could cut their 166 00:09:05,760 --> 00:09:09,080 Speaker 1: revenues by six hundred and sixty million dollars a year. 167 00:09:10,280 --> 00:09:14,160 Speaker 1: This has been widely canvas. There've been month months, not 168 00:09:14,240 --> 00:09:18,080 Speaker 1: a singular month, many months of discussions. The Reserve Bank 169 00:09:18,120 --> 00:09:21,000 Speaker 1: of Australia has put aside these concerns from major banks 170 00:09:21,000 --> 00:09:26,160 Speaker 1: and small businesses to proceed with cutting transaction fees from October. However, 171 00:09:26,280 --> 00:09:31,600 Speaker 1: the RBA has maintained the existing cap for commercial cards, so. 172 00:09:32,040 --> 00:09:34,080 Speaker 2: Banks that argue the lower cap will force them to 173 00:09:34,120 --> 00:09:38,080 Speaker 2: increase credit card interest rates, lift fees dilute the value 174 00:09:38,080 --> 00:09:41,880 Speaker 2: of frequent fly points attached to credit card purchases. They 175 00:09:41,920 --> 00:09:45,240 Speaker 2: say they need to do that to plug the revenue gap. Now, 176 00:09:45,240 --> 00:09:48,600 Speaker 2: the Reserve Bank wants to reduce, basically reduce cross subsidization 177 00:09:48,679 --> 00:09:52,680 Speaker 2: of high cost cards with frequent flyer points by other 178 00:09:52,800 --> 00:09:55,760 Speaker 2: card users. So it's kind of a user pay thing here. 179 00:09:56,160 --> 00:09:59,200 Speaker 2: Someone ultimately pays for those frequent flyer points, and that's 180 00:09:59,240 --> 00:10:02,120 Speaker 2: what the Reserve Bank wants to make that more transparent. 181 00:10:02,200 --> 00:10:05,199 Speaker 2: In fact, it doesn't mind if banks actually lift fees 182 00:10:05,320 --> 00:10:08,679 Speaker 2: on cards that are attached to frequent fly points, as 183 00:10:08,760 --> 00:10:11,800 Speaker 2: long as it's transparent. The one point six billion dollars 184 00:10:11,880 --> 00:10:15,480 Speaker 2: in card payments surcharges charged each year will be saved 185 00:10:15,480 --> 00:10:19,400 Speaker 2: by the consumers, that's the good use, but may ultimately 186 00:10:19,480 --> 00:10:23,320 Speaker 2: be recouped by higher fees or higher cost of goods 187 00:10:23,559 --> 00:10:27,920 Speaker 2: and services provided being paid for by those cards. The 188 00:10:27,960 --> 00:10:30,360 Speaker 2: Reserve banks that if this amount was fully incorporated into 189 00:10:30,360 --> 00:10:33,440 Speaker 2: sticker prices on household consumption goods, it would result in 190 00:10:33,440 --> 00:10:36,240 Speaker 2: a zero point one percent increase in the CPI. What 191 00:10:36,320 --> 00:10:39,320 Speaker 2: they're saying there is yep, it will be inflationary, but 192 00:10:39,360 --> 00:10:43,240 Speaker 2: not that inflationary. The fact that when it's MasterCard, Visa 193 00:10:43,400 --> 00:10:46,040 Speaker 2: f to poss when you're using those, the transparency benefits 194 00:10:46,040 --> 00:10:50,199 Speaker 2: of this far out weigh the concerns about the inflationary negatives. 195 00:10:50,760 --> 00:10:54,160 Speaker 1: Yeah, okay, just a little bit of inflation, like a 196 00:10:54,240 --> 00:10:55,679 Speaker 1: baby puffing on a balloon. 197 00:11:02,040 --> 00:11:03,640 Speaker 2: Anyway, let's move on to the next story. 198 00:11:04,080 --> 00:11:09,600 Speaker 1: Federal Treasurer Jim Chalmers has said sorry said the federal budget, 199 00:11:10,000 --> 00:11:13,079 Speaker 1: which is due in six weeks, will include tax changes 200 00:11:13,080 --> 00:11:18,319 Speaker 1: to deal with intergenerational and inequity, productivity measures and savings 201 00:11:18,520 --> 00:11:23,000 Speaker 1: notwithstanding the war in the Middle East. However, the decisions 202 00:11:23,000 --> 00:11:26,120 Speaker 1: will have to be finalized later than normal just because 203 00:11:26,160 --> 00:11:27,040 Speaker 1: of all the unrest. 204 00:11:27,720 --> 00:11:30,720 Speaker 2: Yes. Charman said the budget would be calibrated to economic 205 00:11:30,720 --> 00:11:33,720 Speaker 2: conditions and pushed back on criticism that cutting the fuel 206 00:11:33,720 --> 00:11:37,000 Speaker 2: exercise by half will add to inflationary pressures. The comments 207 00:11:37,080 --> 00:11:39,000 Speaker 2: came as research from West Pax said the war will 208 00:11:39,040 --> 00:11:41,560 Speaker 2: deliver a sixty billion dollar windfall to the government over 209 00:11:41,600 --> 00:11:43,480 Speaker 2: the next five years. So you're getting to get a higher 210 00:11:43,559 --> 00:11:47,679 Speaker 2: coal prices, gas prices, goal prices, therefore high royalties that 211 00:11:47,720 --> 00:11:49,880 Speaker 2: will be good for the budget. The Treasurer said. The 212 00:11:49,920 --> 00:11:52,199 Speaker 2: upcoming budget will balance the pressures of here and now 213 00:11:52,360 --> 00:11:54,319 Speaker 2: with the demands and obligations of the future. 214 00:11:55,360 --> 00:11:57,800 Speaker 1: Also at yesterday, Seawan the Reserve Bank minutes. So the 215 00:11:57,880 --> 00:12:00,480 Speaker 1: last board meeting two weeks ago, and that of course 216 00:12:00,800 --> 00:12:03,480 Speaker 1: was the meeting where rates were raised after a five 217 00:12:03,480 --> 00:12:05,559 Speaker 1: to four split decision among board members. 218 00:12:05,960 --> 00:12:08,200 Speaker 2: You really wanted, you know, what was the fight like 219 00:12:08,280 --> 00:12:11,560 Speaker 2: he was arguing with Hugh, who was yelling at each other. 220 00:12:11,640 --> 00:12:14,520 Speaker 2: Stuff like that physically came out just shd a lot 221 00:12:14,520 --> 00:12:18,439 Speaker 2: of uncertainty, particularly around the economic outlook. The Board's clearly 222 00:12:18,480 --> 00:12:21,840 Speaker 2: worried about inflation not returning to target with a reasonable 223 00:12:21,880 --> 00:12:24,560 Speaker 2: time frame. The Central Bank also judged that there was 224 00:12:24,640 --> 00:12:27,960 Speaker 2: more excess demand in the economy than it had previously thought, 225 00:12:28,400 --> 00:12:30,839 Speaker 2: and oil prices will be inflationary. 226 00:12:32,040 --> 00:12:35,240 Speaker 1: Telstra will be forced to remove a one million square 227 00:12:35,320 --> 00:12:39,480 Speaker 1: kilometer area from maps promoting its mobile phone coverage after 228 00:12:39,520 --> 00:12:41,960 Speaker 1: the federal government set a limit on the signal strength 229 00:12:42,000 --> 00:12:46,680 Speaker 1: that companies can claim works for calls and texts. After 230 00:12:46,840 --> 00:12:50,839 Speaker 1: rivals Optus and TPG telecomat Jones Vodafone raised doubts about 231 00:12:50,840 --> 00:12:55,840 Speaker 1: Telstra's expansive coverage claims in Regional Australia, Communications Minister Arnika 232 00:12:55,840 --> 00:12:59,840 Speaker 1: Wells announced or asked the regulator rather to set an 233 00:12:59,880 --> 00:13:02,720 Speaker 1: in industry standard that would be reflected on these maps. 234 00:13:03,480 --> 00:13:05,600 Speaker 2: Now it gets very technical and I'm not going to 235 00:13:05,600 --> 00:13:07,640 Speaker 2: go there because I'll just make a fool of myself. 236 00:13:07,679 --> 00:13:10,600 Speaker 2: But from June thirty telcos will have to publish maps 237 00:13:10,640 --> 00:13:13,800 Speaker 2: showing their four G and five G signal and they've 238 00:13:13,800 --> 00:13:17,040 Speaker 2: got to say it's good, moderate, basic or no coverage. 239 00:13:17,080 --> 00:13:19,800 Speaker 2: According to the story in the finn the cut off 240 00:13:19,920 --> 00:13:23,440 Speaker 2: signal strength and no coverage has been the subject of 241 00:13:23,480 --> 00:13:27,520 Speaker 2: a fierce dispute between Telstra and its rivals. Under a 242 00:13:27,559 --> 00:13:29,760 Speaker 2: final decision, Telstra will have to remove an area the 243 00:13:29,760 --> 00:13:32,240 Speaker 2: size of New South Wales some from its so called 244 00:13:32,559 --> 00:13:36,160 Speaker 2: coverage area. Now, Telstra has the biggest mobile coverage in 245 00:13:36,160 --> 00:13:39,920 Speaker 2: Australia by far. It promotes a network reaching nine to 246 00:13:40,000 --> 00:13:43,680 Speaker 2: nine point seven percent of Australians, covering three million square kilometers. 247 00:13:43,880 --> 00:13:46,880 Speaker 2: The next one covers about one million square kilometers, so 248 00:13:47,240 --> 00:13:50,640 Speaker 2: clearly it's in front. Telstra fought this really hard. In fact, 249 00:13:50,640 --> 00:13:54,000 Speaker 2: they commissioned a group to drive sixty thousand kilometers around 250 00:13:54,040 --> 00:13:56,680 Speaker 2: Australia and basically might try and make a phone call 251 00:13:57,000 --> 00:13:59,719 Speaker 2: test its regional signals how it works, and that was 252 00:13:59,760 --> 00:14:03,720 Speaker 2: part of its argument. Oh fascinating. I mean imagine having 253 00:14:03,760 --> 00:14:04,240 Speaker 2: that job. 254 00:14:04,600 --> 00:14:05,560 Speaker 1: What a great job. 255 00:14:06,120 --> 00:14:07,480 Speaker 2: Yeah, I love it. 256 00:14:07,600 --> 00:14:12,080 Speaker 1: Just this cruise around listening to fear and greed for 257 00:14:12,160 --> 00:14:16,199 Speaker 1: sixty thousand kilometers. It's a lot of fear and greed. Shot, 258 00:14:16,520 --> 00:14:19,120 Speaker 1: there might be such thing as too much. Turning to 259 00:14:19,240 --> 00:14:21,880 Speaker 1: international news, we mentioned earlier in the show that the 260 00:14:21,880 --> 00:14:24,960 Speaker 1: Wall Street Journal had reported that Donald Trump had suggested 261 00:14:25,000 --> 00:14:27,800 Speaker 1: to AIDS that the war could end even if the 262 00:14:27,920 --> 00:14:32,040 Speaker 1: Strait of Humus wasn't reopened, but that was perhaps a 263 00:14:32,080 --> 00:14:35,760 Speaker 1: private conversation. Publicly is taking a different approach, saying the 264 00:14:35,880 --> 00:14:40,720 Speaker 1: US would completely obliterate Iran's energy infrastructure if no deal 265 00:14:40,760 --> 00:14:42,280 Speaker 1: has reached to end the war. 266 00:14:43,080 --> 00:14:47,000 Speaker 2: Yes, and the bombing continues. The central Iranian city of 267 00:14:47,200 --> 00:14:51,800 Speaker 2: Isfahan came under attack. A fully laid in Kaiti oil 268 00:14:51,840 --> 00:14:55,200 Speaker 2: tanker near Dubai was attacked that caused a fire fortunately 269 00:14:55,400 --> 00:14:59,040 Speaker 2: not an oil spill. It isn't really clear what negotiations 270 00:14:59,080 --> 00:15:01,160 Speaker 2: are taking place, so I ran as the night is 271 00:15:01,200 --> 00:15:05,280 Speaker 2: talking to Washington. Donald Trump says they are talking. Yesterday, 272 00:15:05,360 --> 00:15:08,920 Speaker 2: Israeli Prime Minister benjaminette Yaho said the war is definitely 273 00:15:08,960 --> 00:15:13,040 Speaker 2: beyond the halfway point, but wouldn't say when it would end. 274 00:15:13,080 --> 00:15:15,960 Speaker 2: So we're up to five weeks, so that means it's 275 00:15:15,960 --> 00:15:19,560 Speaker 2: got to be like less than ten weeks. But I 276 00:15:19,600 --> 00:15:22,240 Speaker 2: wouldn't make a big bet on that one. No, no, 277 00:15:22,320 --> 00:15:25,480 Speaker 2: probably not. Now, Michael, I've got to say, this is 278 00:15:25,520 --> 00:15:30,200 Speaker 2: your story. It's on the countdown for humanities first launch 279 00:15:30,320 --> 00:15:34,240 Speaker 2: the Moon in fifty three years. The space launched system 280 00:15:34,360 --> 00:15:38,840 Speaker 2: thirty two stories high, set to blast off tonight. But Michael, 281 00:15:40,000 --> 00:15:41,880 Speaker 2: over to you. It's your story. 282 00:15:42,360 --> 00:15:44,200 Speaker 1: Thank you, Sean. And now we've got everything else out 283 00:15:44,240 --> 00:15:45,760 Speaker 1: of the way, we can talk about the thing. 284 00:15:45,640 --> 00:15:48,280 Speaker 2: That get this a little in the cup of tea. 285 00:15:48,440 --> 00:15:50,040 Speaker 2: I hope you got twenty minutes because I'm going to 286 00:15:50,040 --> 00:15:51,400 Speaker 2: crap on that's right. 287 00:15:51,440 --> 00:15:55,640 Speaker 1: This really matters to humanity, right, Sean. Now I love 288 00:15:55,680 --> 00:16:01,359 Speaker 1: this story because this is the first time in decades 289 00:16:01,640 --> 00:16:05,160 Speaker 1: that anyone that humans have gone near them near the Moon. 290 00:16:05,240 --> 00:16:08,200 Speaker 1: It's not since the Apollo era ended in nineteen seventy 291 00:16:08,200 --> 00:16:11,200 Speaker 1: two that we've gone anywhere near the Moon with a 292 00:16:11,320 --> 00:16:14,320 Speaker 1: manned space flight. So this is just incredible. So it's 293 00:16:14,320 --> 00:16:18,400 Speaker 1: called Artemis two. There are three Americans and one Canadian 294 00:16:18,960 --> 00:16:20,680 Speaker 1: going on this, and they're not going to land on 295 00:16:20,680 --> 00:16:22,320 Speaker 1: the Moon, right, that's going to come later on. 296 00:16:22,400 --> 00:16:24,600 Speaker 2: What's the point, Mike, Why are we so excited if 297 00:16:24,600 --> 00:16:26,040 Speaker 2: they're not even going to land on the moon. 298 00:16:26,440 --> 00:16:30,120 Speaker 1: Because these people, these four people are going to be 299 00:16:30,320 --> 00:16:34,400 Speaker 1: the furthest people who have ever been away from Earth. 300 00:16:34,800 --> 00:16:38,280 Speaker 1: They are traveling the furthest distance anyone has ever gone. 301 00:16:38,280 --> 00:16:40,880 Speaker 1: They're going around the far side, the dark side of 302 00:16:40,880 --> 00:16:42,440 Speaker 1: the Moon. Indeed, they're going to be able to see 303 00:16:42,440 --> 00:16:46,760 Speaker 1: things that nobody has ever seen before, ever in the 304 00:16:46,880 --> 00:16:50,320 Speaker 1: history of darkmunity. Well, I mean that's they've probably got 305 00:16:50,320 --> 00:16:55,680 Speaker 1: a torch shining. No, it's they will still see things. 306 00:16:55,880 --> 00:16:58,560 Speaker 1: Right anyway they are going to do. They're going to 307 00:16:58,560 --> 00:17:00,680 Speaker 1: travel around the Moon. So first, well they will take 308 00:17:00,680 --> 00:17:04,760 Speaker 1: off at some point, hopefully it'll be tonight. If it 309 00:17:04,800 --> 00:17:08,120 Speaker 1: doesn't go ahead, there's a window of the next six days. 310 00:17:08,119 --> 00:17:11,520 Speaker 1: The first six days of April are good, good conditions 311 00:17:11,640 --> 00:17:14,600 Speaker 1: they can take off, get into war, but all but 312 00:17:15,440 --> 00:17:18,120 Speaker 1: Earth for a day. Then it is a ten day 313 00:17:18,200 --> 00:17:20,680 Speaker 1: round trip to the Moon, go around the Moon, come 314 00:17:20,720 --> 00:17:23,520 Speaker 1: on back, splash down in the ocean, and have a 315 00:17:23,640 --> 00:17:26,440 Speaker 1: heck of a story to tell when they get back. 316 00:17:26,720 --> 00:17:29,359 Speaker 2: But the fact is, I have to ask a question, Michael, 317 00:17:29,440 --> 00:17:32,280 Speaker 2: why is it, when we're so technologically advanced, we can 318 00:17:32,320 --> 00:17:33,960 Speaker 2: send someone to the dark side of the Moon. They'll 319 00:17:34,000 --> 00:17:36,400 Speaker 2: be back in ten days. Yet we've got to wait 320 00:17:36,400 --> 00:17:38,240 Speaker 2: for the weather exactly. 321 00:17:38,400 --> 00:17:40,480 Speaker 1: You think if a plane, if an a three to eighty, 322 00:17:40,520 --> 00:17:44,119 Speaker 1: can take off in bad weather, surely a spaceship can 323 00:17:44,160 --> 00:17:46,119 Speaker 1: do the same thing. A rocket can do the same thing. 324 00:17:46,359 --> 00:17:48,360 Speaker 1: But I mean, the problem is this has been there's 325 00:17:48,400 --> 00:17:50,480 Speaker 1: been a few challenges along the way. Here. It should 326 00:17:50,480 --> 00:17:52,720 Speaker 1: have happened in February. They had feel leaks. Then there 327 00:17:52,760 --> 00:17:54,679 Speaker 1: was a line was clogged. They had to take the 328 00:17:54,680 --> 00:17:57,639 Speaker 1: whole rocket and everything back to the hangar. It's back 329 00:17:57,640 --> 00:18:01,240 Speaker 1: on the launch pad now, the crew is everyone has 330 00:18:01,280 --> 00:18:04,399 Speaker 1: sent everyone's ready, fingers crossed for a successful launch. I 331 00:18:04,440 --> 00:18:06,480 Speaker 1: will not be sleeping over the next few days, Sean. 332 00:18:06,520 --> 00:18:08,640 Speaker 1: I'll be glued to the teed, be watching this one, 333 00:18:08,640 --> 00:18:10,240 Speaker 1: and I'll bring you all the news here on Fear 334 00:18:10,280 --> 00:18:10,960 Speaker 1: and Greed. 335 00:18:13,160 --> 00:18:16,280 Speaker 2: Anyway, can I tell you about my Fear and Greed 336 00:18:16,320 --> 00:18:17,200 Speaker 2: Q and A this morning. 337 00:18:17,520 --> 00:18:19,280 Speaker 1: It's a great one. 338 00:18:20,400 --> 00:18:24,480 Speaker 2: You calm DOWNX whatever it is. Etro's Josh Gilbert. We 339 00:18:24,560 --> 00:18:27,000 Speaker 2: talk about what he calls boring stocks. Now, if you 340 00:18:27,080 --> 00:18:30,000 Speaker 2: tell Coca Cola and McDonald's that they were boring stocks, 341 00:18:30,240 --> 00:18:33,400 Speaker 2: they would not be happy. His point is, I over 342 00:18:33,520 --> 00:18:36,159 Speaker 2: fifty years in one case, more than sixty years in 343 00:18:36,240 --> 00:18:40,159 Speaker 2: the other, dividends have risen every single year. They just 344 00:18:40,280 --> 00:18:44,040 Speaker 2: keep producing great cash flow. And why in an environment 345 00:18:44,119 --> 00:18:47,000 Speaker 2: like we have at the moment, boring stocks like McDonald's 346 00:18:47,000 --> 00:18:51,240 Speaker 2: and Coca Cola are goodbyes. We're not investing podcast. Always 347 00:18:51,240 --> 00:18:54,120 Speaker 2: get your own advice. But Josh comes up with some 348 00:18:54,720 --> 00:18:57,360 Speaker 2: really interesting arguments. Yeah. It's a great chat. 349 00:18:57,400 --> 00:18:58,920 Speaker 1: It is coming up next in the Fear and Greed 350 00:18:58,960 --> 00:19:02,080 Speaker 1: playlist on your podcas platform or at Fearandgreed dot Com 351 00:19:02,080 --> 00:19:03,720 Speaker 1: DoD au, which is but you can also sign up 352 00:19:03,760 --> 00:19:06,080 Speaker 1: for the free daily newsletter. Look at that round a 353 00:19:06,119 --> 00:19:07,800 Speaker 1: little bit over time. Don't know who was to blame 354 00:19:07,800 --> 00:19:08,000 Speaker 1: for that. 355 00:19:08,080 --> 00:19:09,919 Speaker 2: Thank you, Sean, Thanks Michael. 356 00:19:10,240 --> 00:19:11,760 Speaker 1: It's Wednesday, the first of April. 357 00:19:11,800 --> 00:19:12,560 Speaker 2: Twenty twenty six. 358 00:19:12,640 --> 00:19:14,919 Speaker 1: Make sure you're following the podcast and join us online 359 00:19:14,920 --> 00:19:16,200 Speaker 1: on LinkedIn and Instagram. 360 00:19:16,280 --> 00:19:17,119 Speaker 2: I'm Michael Thompson. 361 00:19:17,160 --> 00:19:18,960 Speaker 1: That was fear and greed. Have a great day.