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

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Speaker 1: The Reserve Bank delivers a much awaited interest rate to cut,

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Speaker 1: the third so far this year. The local share market

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Speaker 1: hits a new all time high, and Donald Trump extends

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Speaker 1: a tariff truce with China. Plus Star Entertainment strikes a deal,

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Speaker 1: and airlines cash in on a big shift in how

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Speaker 1: we travel. Spoiler alert, it's not the cheap seats. It

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Speaker 1: is Wednesday, the thirteenth of August twenty twenty five. Are

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Speaker 1: Michael Thompson and good morning, Natalie McDonald. Good morning Michael,

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Speaker 1: day two on the job in the chair while Sean

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Speaker 1: Aylmer is just cruising around Europe. You've picked a fine

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Speaker 1: time to join us. There is a lot going on

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Speaker 1: right and now.

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Speaker 2: But the question I want answered is is Sean still listening?

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Speaker 2: But do you think he's checking in?

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Speaker 1: You know what I reckon? He is, so hi, Sean,

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Speaker 1: hope you're enjoying it. And Natalie's doing a cracker of

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Speaker 1: a job. Now the main story this morning, there's only

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Speaker 1: one big story in town. Reserve Bank of Australia delivered

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Speaker 1: a much anticipated rate cut yesterday, voting unanimously to slash

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Speaker 1: the official cash rate by twenty five basis points to

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Speaker 1: three point six percent. Now.

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Speaker 2: This cut is the third of the cycle, following cuts

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Speaker 2: in February and May the Central Bank upsetting expectations with

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Speaker 2: its decision to hold in the month of July. However,

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Speaker 2: in a statement, the Central Bank said the Board remains

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Speaker 2: cautious to global developments as well as those here at home,

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Speaker 2: calling yesterday's twenty five basis point cut appropriate. Bank Governor

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Speaker 2: Michelle Bullet warning, however, not to expect rates to go

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Speaker 2: too low. She opened the press conference with the explanation

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Speaker 2: that because we didn't take rates as high as some

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Speaker 2: other countries, it may be that we don't need to

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Speaker 2: reduce rates as much either. That's a quote from that conference.

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Speaker 2: She did say, though, that the RBA's economic forecasts are

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Speaker 2: based on a couple more rate cuts, again a quote,

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Speaker 2: but wouldn't be led on whether that would be at

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Speaker 2: consecutive meetings.

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Speaker 1: I think these press conferences that the Reserve Bank governor

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Speaker 1: has after the board meeting, they are so valuable for

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Speaker 1: providing a lot of extra insight into the thinking of

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Speaker 1: the board. And one of the things that the Governor

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Speaker 1: was at pains to point out yesterday was really a

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Speaker 1: warning about productivity.

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Speaker 2: She was very much attempted to drawn in on that

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Speaker 2: and wouldn't really give anything away ahead of our next

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Speaker 2: week's productivity commission. But overall on productivity, that warning being

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Speaker 2: that it is still far too low. The Reserve Bank

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Speaker 2: has downgraded its outlook on that front, forecasting productivity growth

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Speaker 2: of zero point seven percent per year over the medium term,

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Speaker 2: down from previous forecasts of one percent. It's a very

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Speaker 2: timely warning, as we say, coming just a week before

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Speaker 2: the federal government's round table looking to address this very issue.

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Speaker 2: But overall, when it comes to government reaction, Treasury Jen

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Speaker 2: Charmers hailed the move by the Central Bank is a

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Speaker 2: very welcome relief for Australians, adding and that's why today

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Speaker 2: is a good day, which I thought was pretty cute,

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Speaker 2: nice touch, I think exactly. Attention though, now turning to

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Speaker 2: the wage price index coming out today and we've also

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Speaker 2: got jobs data tomorrow.

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Speaker 1: Just to clarify, did you just refer to Treasurer Jim

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Speaker 1: Chalmers as being that was quite cute what he said? Delete? Okay, now,

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Speaker 1: very good time to mention the fear and greed Q

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Speaker 1: and A that comes up after the show you're speaking

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Speaker 1: today with Billinda Allen from Commonwealth Bank Senior Economists. There

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Speaker 1: just great insight into kind of what this means, and

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Speaker 1: the question that you are asking is how many more

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Speaker 1: rate cuts are we going to get? There was, as

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Speaker 1: we mentioned so much in the announcement and Reserve Bank

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Speaker 1: Governor Michelle Bullock's press conference afterwards. One of my favorite

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Speaker 1: parts was the almost veiled warning to US President Donald

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Speaker 1: Trump about the pressure that is on the US Federal

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Speaker 1: Reserve to slash rates. And maybe I'm reading too much

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Speaker 1: into this, but she did say a direct quote, if

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Speaker 1: the Fed does lower interest rates too quickly and it

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Speaker 1: does result in inflation rising, then that potentially does have

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Speaker 1: implications for the world economy. That seems pretty clear to me.

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Speaker 1: You mentioned productivity, right, and plenty of challenges still for

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Speaker 1: the economy in terms of productivity in the short term.

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Speaker 1: Though the right cut yesterday is good news for homeowners.

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Speaker 1: Anyone with a mortgage is set to benefit.

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Speaker 2: They are CBA was the first cab off the ranks,

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Speaker 2: acting to match the Reserve Bank and lower interest rates

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Speaker 2: by zero point two five percent. Big four peers all

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Speaker 2: following in suit. How much homeowners now save will depend,

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Speaker 2: of course on how much your home loan is. Repayments

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Speaker 2: on a seven hundred and fifty thousand dollars mortgage will

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Speaker 2: be around one hundred and thirteen dollars less per month,

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Speaker 2: or one hundred and fifty dollars lower for a million

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Speaker 2: dollar mortgage.

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Speaker 1: And the other big response was from the local market. Yesterday,

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Speaker 1: the share market.

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Speaker 2: Just took off exactly like I say, today was a

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Speaker 2: very good day.

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Speaker 1: Thank you, Jim Chalmers.

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Speaker 2: Thank you. The SMVASX two hundred index climb zo point

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Speaker 2: four percent to eighty eight hundred and eighty as it

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Speaker 2: hit an intra day high of eighty eight hundred and

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Speaker 2: eighty five following the Central Bank's decision. It marks the

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Speaker 2: highest close on records, surpassing eight hundred and forty eight

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Speaker 2: set last week. So many eights, financials and retailers all

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Speaker 2: rallied adjacent to the RBA decision. Materials also seeing gains. Industrials, however,

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Speaker 2: the weaker sector in what was overall and out performance.

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Speaker 1: Clearly there's a bit of optimism out there in the

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Speaker 1: market based on those results yesterday. It's not just traders

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Speaker 1: and it's not just mortgage holders though that are feeling

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Speaker 1: more optimistic at the moment, Natalie, because Australian business confidence

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Speaker 1: rose to a three year high in July according to

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Speaker 1: an ab survey.

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Speaker 2: That survey, as you say, from National Australia Bank, showed

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Speaker 2: it's index of business confidence climbed to plus seven in July.

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Speaker 2: That's up from plus five in June, boiled by strength

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Speaker 2: in services and construction. This is the highest reading since

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Speaker 2: August twenty twenty two, suggesting that global worries haven't really

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Speaker 2: influenced local hiring and investment decisions, or at least just yet,

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Speaker 2: although costs are adding some pressures.

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Speaker 1: Okay, we have still got a lot to get to

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Speaker 1: before we go to the break, though, it is time

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Speaker 1: for business by numbers. This is the top three numbers

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Speaker 1: to know for the week, brought to you by zero

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Speaker 1: zero dot com slash AU. The first number to know

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Speaker 1: this week is obviously going to be three point six

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Speaker 1: percent the official cash rate after the Reserve Bank Board

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Speaker 1: cut rates yesterday afternoon eight thousand, eight hundred and eighty

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Speaker 1: one points. You mentioned this one, Natalie, the closing high

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Speaker 1: the ASX hit after the RBA announcement, and then my

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Speaker 1: favorite number really for the week, twenty percent which is

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Speaker 1: how much lithium minor pilber minerals. The share price jumped

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Speaker 1: in just one day after a Chinese mind was shut

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Speaker 1: down for three months, and that was really reflected right

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Speaker 1: across the sector with all the lithium miners jumping. Those

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Speaker 1: are the top three numbers you need to know for

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Speaker 1: the week, brought to you by Zero. We'll be back

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Speaker 1: in a moment with the rest of the day's business news.

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Speaker 1: Natalie Star Entertainment has struck a fifty three million dollar

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Speaker 1: deal to sell its fifty percent steak in Brisbane's Queen's

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Speaker 1: Warf casino.

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Speaker 2: The struggling casino operator reaching an agreement with its Hong

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Speaker 2: Kong based business partners after missing a key deadline two

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Speaker 2: weeks ago and following months of tense negotiations. The move

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Speaker 2: helps Star reduced at and avoid at least two hundred

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Speaker 2: and twelve million dollars in upcoming equity contributions to the project.

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Speaker 2: Star offloading other assets as well, including a Brisbane hotel

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Speaker 2: and car parks. Investors responding to the news well shares

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Speaker 2: ending the day up nearly twenty four percent, which sounds great,

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Speaker 2: sounds wonderful, but what was the actual share price, Yeah,

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Speaker 2: eleven cents.

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Speaker 1: Eleven cents, which is just when you consider the fact

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Speaker 1: that Star what four or five years ago was about

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Speaker 1: four dollars or so, to now be kind of in

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Speaker 1: that nine to eleven cent range, it is quite an

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Speaker 1: extraordinary run that company has had, and has had more

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Speaker 1: than its fair share of trouble in recent weeks and

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Speaker 1: months now. A couple of key results that I worth

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Speaker 1: have mentioned today. SGH, which is formally Seven Group Holdings,

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Speaker 1: kind of failed to give investors what they wanted this

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Speaker 1: reporting season, shares slumping more than eight percent yesterday, despite

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Speaker 1: delivering a rise in full the year earnings.

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Speaker 2: The industrial's conglomerate, led by the billionaires Stokes family, forecast

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Speaker 2: high single digit earnings growth for that current period, but yeah,

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Speaker 2: missing the mark when it comes to what investors wanted

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Speaker 2: to see from it.

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Speaker 1: Yeah. Now the other one, and I alluded to this

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Speaker 1: one earlier. Life three sixty is just a really interesting company.

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Speaker 2: It is, so let me give you the details. So

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Speaker 2: Life through sixty, if you're not familiar with it, is

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Speaker 2: a family tracking app. It's California based ASX listed, It's

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Speaker 2: got eighty eight million users. It's said that rising anxiety

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Speaker 2: among parents about their children's safety is driving record revenue growth.

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Speaker 2: It's up thirty four percent for the half to three

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Speaker 2: hundred and thirty six point two million dollars, climbing seven

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Speaker 2: point eight percent on the AESX.

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Speaker 1: Yesterday you mentioned praying on anxiety. They really lean into

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Speaker 1: that this company does and their their ad campaign. I

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Speaker 1: don't know whether you've seen it come up. There is

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Speaker 1: a video and a song and it is so well produced.

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Speaker 1: But this song is called I Think of You Dying,

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Speaker 1: and it is about It is about I kid you,

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Speaker 1: not a mum with a kind of teenage kids, and

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Speaker 1: talking about all of the kind of exotic ways and

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Speaker 1: things that could happen to them while they're out of home.

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Speaker 1: So it really plays to that. It's tongue in cheek,

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Speaker 1: but clearly they have identified the market here and have

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Speaker 1: gone after it in a big way and it is

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Speaker 1: paying off for the company.

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Speaker 2: That is, My catastrophizing brain does not need that it's

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Speaker 2: here in my life.

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Speaker 1: No, I don't think any parents do. Now. Taxpayer funded

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Speaker 1: nbn CO is turning a corner, trimming losses to just

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Speaker 1: under one billion dollars thanks to a one point one

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Speaker 1: to nine billion dollar boost from the Albanese government to

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Speaker 1: upgrade its network.

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Speaker 2: Revenue grew four percent to five point seven billion dollars

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Speaker 2: and earnings rows eight percent to four point two billion,

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Speaker 2: despite rising debt. Chief executive Elie Sweeney says the upgrading

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Speaker 2: of its network is on track, with nearly two point

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Speaker 2: seven million homes and businesses now connected to fire but

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Speaker 2: that's up twenty four percent this year. Mbnco is also

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Speaker 2: set to replace its lower satellite service with a faster

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Speaker 2: low Earth orbit option from Amazon's Project Kaiper next GM

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Speaker 2: Michael I Low you love this story. The upgrades have

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Speaker 2: received criticism, however, from those who say that the costly

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Speaker 2: scheme overlaps with existing commercial networks in areas like Canberra.

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Speaker 1: I love the fact that we've only been working together

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Speaker 1: for a couple of days and you could still see

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Speaker 1: the excitement in my eyes as soon as you mentioned

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Speaker 1: low Earth orbit satellites. Now another area that I'm fascinated

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Speaker 1: by aviation right. Airlines are cashing in on a big

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Speaker 1: shift in how we travel, as demand for business first

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Speaker 1: and premium economy, all those three classes of tickets demands

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Speaker 1: just soaring.

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Speaker 2: This trend is fascinating to me. So flight Center saw

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Speaker 2: an eighteen percent lift in international premium class bookings last

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Speaker 2: year versus a ten percent rise in economy bookings. And

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Speaker 2: this is why you're seeing carriers like Air New Zealand

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Speaker 2: and Quantas redesigning cabins to fit almost half their seats

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Speaker 2: in premium emirates. This blows my mind. They're ripping out

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Speaker 2: ten thousand economy seats in order to boost its premium offering.

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Speaker 2: But the really well thing is that passengers are paying

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Speaker 2: up despite the fact that costs can sometimes be ten

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Speaker 2: times more. To put it in real terms, so business

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Speaker 2: class return to LA can cost more than thirteen thousand dollars,

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Speaker 2: premium economy close to five thousand dollars, and people are

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Speaker 2: willing to pay.

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Speaker 1: Yeah. I mean I'd pay anything to get some extra

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Speaker 1: leg room. I just can't afford it.

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Speaker 2: I think it speaks to the idea of flights and

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Speaker 2: travel being being an experience and sort of leaning into that.

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Speaker 1: Yes, you know, I do see the pictures of like

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Speaker 1: the not just the first class, but like the residents

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Speaker 1: on have you seen those ones on the is it

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Speaker 1: Emerit or Katar? And it is a full apartment in

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Speaker 1: the sky. It's as close to flying in a private

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Speaker 1: jet that you could possibly get I suspect, but you

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Speaker 1: would need very very deep pockets.

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Speaker 2: And then there's the whole controversy about babies and children

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Speaker 2: in business class or not.

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Speaker 1: Yes, And I noticed that there was one airline is

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Speaker 1: it It might be Japan that allows you to actually

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Speaker 1: see with When you book your ticket, it will tell

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Speaker 1: you whether there are babies seated around you, and then

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Speaker 1: you can choose other seats. Did you So?

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Speaker 2: I am flying to London in September with my two

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Speaker 2: children solo, just me, two children outnumbered. We will not

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Speaker 2: be at the point end of the plane, and honestly,

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Speaker 2: I don't think it would help me even if we were.

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Speaker 1: No. No, I think in the end, you've just got

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Speaker 1: to greet your teeth and get through that. When you've

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Speaker 1: got kids and.

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Speaker 2: You're flying twenty five hours, Just suck it up, get.

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Speaker 1: Through there, Okay. Turning to international news now, the Trump

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Speaker 1: administration has extended the current tariff pause on Chinese imports

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Speaker 1: for another ninety days, delaying a potential escalation between the

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Speaker 1: world's two largest economies.

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Speaker 2: President Trump confirmed he had signed the executive order for

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Speaker 2: the extension in a post on his truth social platform.

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Speaker 2: Adding that all other elements of the agreement would remain

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Speaker 2: the same. What this means is that the US won't

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Speaker 2: increase tariffs beyond the existing thirty percent, while China will

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Speaker 2: keep its duty steady at ten percent. China says it

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Speaker 2: hopes to see positive signals from the US on the

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Speaker 2: basis of equality, respect, and mutual benefit.

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Speaker 1: And still in the US, President Trump has announced the

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Speaker 1: deployment of eight hundred National Guard troops across Washington, d C.

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Speaker 1: And taken over the city's police department to tackle what

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Speaker 1: he described as a surge in violent crime.

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Speaker 2: Trump declared a public safety emergency under a provision of

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Speaker 2: DC's Home Rule Act. This allows the president to assume

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Speaker 2: temporary control, as he compared crime in the US capital

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Speaker 2: with a Brazil and Columbia, amongst other countries. The president

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Speaker 2: threatening similar actions in other major cities like New York

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Speaker 2: and Chicago if they failed to crack down on quote

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Speaker 2: out of control crime. However, Donald Trump's claim of rampant

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Speaker 2: violence contrasts with official data which shows violent crime in

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Speaker 2: the Capitol reached a thirty year low last year.

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Speaker 1: Now, like one last one, I We'll just do this

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Speaker 1: one very very quickly. The Duke and Duchess of Sussex,

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Speaker 1: which is Megan and Harry. Really, we're really on first

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Speaker 1: name terms with them all now, aren't we besties? Okay?

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Speaker 1: I wouldn't quite go that far. They've quashed speculation around

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Speaker 1: their one hundred million dollar partnership with Netflix, signing a

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Speaker 1: new multi year film and TV deal. This is this

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Speaker 1: big money involved.

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Speaker 2: Here, definitely and kind of at odds with what had

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Speaker 2: been anticipated. So despite poor viewing figures for some of

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Speaker 2: the couple's projects, Netflix has maintained its first look arrangement

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Speaker 2: with the pair, which means the streamer gets the first

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Speaker 2: shot at any projects from their productions team. Upcoming content

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Speaker 2: includes a second season of With Love Megan, a Christmas special,

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Speaker 2: and a documentary on orphaned children in Uganda. It's worth

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Speaker 2: a reminder that the couple's twenty million dollar Spotify deal

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Speaker 2: collapsed in twenty twenty three, but clearly Netflix continues to

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Speaker 2: see commercial potential in brand Sussex.

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Speaker 1: I'd love to know how much it is worth. I

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Speaker 1: reckon it's a long way south of the one hundred

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Speaker 1: million dollars they got last time.

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Speaker 2: Well, I hadn't seen any numbers, but I think that

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Speaker 2: would probably be a pretty pretty good guest of it.

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Speaker 1: Okay, Up next is Fear and Greed Q and A

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Speaker 1: speaking today to Belinda Allen, senior economists from Commwealth Bank,

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Speaker 1: all about interest rate cuts and how many more are

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Speaker 1: still to come. That is coming up next in the

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Speaker 1: Fear and Grade playlist on your podcast platform or at

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Speaker 1: Fearandgreed dot com dot au. Thank you, Natalie, Thank you Michael.

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Speaker 1: It is Wednesday, the thirteenth of August twenty twenty five.

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Speaker 1: Make sure you're following the podcast and please join us

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Speaker 1: online on LinkedIn, Instagram, x TikTok and Facebook. Michael Thompson,

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Speaker 1: and that was Fear and Greed. Have a great day.