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Speaker 1: Welcome to Fear and Greed business News. You can use

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Speaker 1: the stories. Today, Prime Minister Anthony Albanizi meets Chinese President Jijingping,

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Speaker 1: and the two stress the need to not let global

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Speaker 1: trade turbulence derail camera Beijing relationships. The local share market

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Speaker 1: closes at a record high, and the Reserve Bank wants

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Speaker 1: to overhaul the payment system, saving consumers one point two

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Speaker 1: billion dollars plus online shoppers rate delivery times and loyalty

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Speaker 1: programs as important to future sales. And the secret conversations

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Speaker 1: between insects and plants. It's Wednesday, the sixteenth of July

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Speaker 1: twenty twenty five. I'm Adam Lang and good morning, Sean Ailma.

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Speaker 2: Good morning Adam. The secret life of the secret conversations

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Speaker 2: between insects and plants. Surely that's a teaser.

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Speaker 1: I feel like I'm listening in on something.

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Speaker 2: You are.

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Speaker 1: Sounds intriguing, all right, sure the main story this morning.

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Speaker 1: Prime Minister Anthony Albanesi met with Chinese President Jijingping yesterday

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Speaker 1: in the Great Hall of the People near Tianaman Square

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Speaker 1: in Beijing. It was a cordial affair, with Xi congratulating

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Speaker 1: Albanesi on his re election, saying that it is important

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Speaker 1: that international turbulence does not derail improvements in the China

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Speaker 1: Australian relationship.

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Speaker 2: She talked about the need to treat people equally and

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Speaker 2: for the two countries to seek common ground and pursue

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Speaker 2: mutually beneficial cooperation. He alluded to the approachment in Sino

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Speaker 2: or Australian ties following Alberanesi's election in twenty twenty two, which

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Speaker 2: of course came after Beijing targeted twenty billion dollars of

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Speaker 2: Australian exports and froze ministerial dialogue. She said the two

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Speaker 2: countries had reached many common understandings with joint effort rising

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Speaker 2: from setbacks. Now Gee's China's supreme leader. He didn't mention

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Speaker 2: US President Donald Trump specifically. He didn't mention specifically the

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Speaker 2: global trade war, but he urged Albanesi to ensure global

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Speaker 2: turbulence doesn't undermine the repair work done to bilateral ties.

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Speaker 2: Albanesi echoed She's sentiment about the importance of finding points

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Speaker 2: of unity in the relationship. Notably, China State media applauded

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Speaker 2: the Prime minister six day visit, highlighting the length of

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Speaker 2: his day and the size of the accompanying business delegation

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Speaker 2: as proof of Australia's commitment to bilateral relationships. There are

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Speaker 2: a few things that weren't mentioned. Maybe that's the best

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Speaker 2: way of putting it. So Albanzi said that she did

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Speaker 2: not raise the increasing increasing pressure the US is placing

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Speaker 2: on Australia and other allies to join a conflict over Taiwan.

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Speaker 2: There was also discussion about the jailed Chinese Australian writer

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Speaker 2: Huang Heng Jun. He's in a Chinese president a Chinese prison. Sorry,

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Speaker 2: Alberzi raised the issue directly with the President, but all

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Speaker 2: in all, it seems like a fairly cordial affair.

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Speaker 1: Mister Alberanzi also met Which Premier Lie Qiang last night

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Speaker 1: for the annual leaders meeting, and following that with a

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Speaker 1: dinner between the two and business leaders from both countries.

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Speaker 2: So Lee's formally actually head of government, while Sijing Ping

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Speaker 2: is head of state or the equivalent of Australia's governor general,

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Speaker 2: though he just basically wheelds absolute power very unlike our

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Speaker 2: own governor General. Albernesi last night was expected to broach

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Speaker 2: a couple of thorny issues that weren't brought up with Jijingping.

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Speaker 2: For example, the recent circumnavigation of the Australian mainland the

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Speaker 2: unannounced live firing exercises in the Tasman Tasman Sea. Lee

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Speaker 2: was expected to push Albernizi over his promise over the

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Speaker 2: Prime Minister's promise to force a Chinese owned company to

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Speaker 2: give up its lease on the Port of Darwin. That

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Speaker 2: was an issue that was not raised between chi jingping

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Speaker 2: In Anthony Albernizi. All in all, it certainly demonstrates that

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Speaker 2: Australia's relationship with China is a lot warmer than it's

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Speaker 2: been for pretty much a decade.

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Speaker 1: It's probably too early to call it a successful visit yet,

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Speaker 1: but it's so far.

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Speaker 2: So good, right, Yeah, I think that's right sewn.

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Speaker 1: The local sheer market set a closing record yesterday and

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Speaker 1: it was a particularly good day for the technology stocks.

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Speaker 2: That's right. SMPA six two hundred finished up zero point

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Speaker 2: seven percent to eighty six hundred and thirty points, eclipsing

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Speaker 2: the previous closing high, though it's still shy of its

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Speaker 2: all time high. The strong day followed a rise on

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Speaker 2: Wall Street after Donald Trump indicated he's open to negotiate

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Speaker 2: on tariffs, particularly with the European Union. Notwithstanding, he imposed

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Speaker 2: to thirty percent tariff on the EU and Mexico of

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Speaker 2: the weekend, thirty five percent on Canada. There were big

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Speaker 2: jumps yesterday and some of the tech stocks on the

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Speaker 2: back of Wall Street Life three sixty was up eight percent,

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Speaker 2: wise Tech Global zero, Technology one next, DC all rows

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Speaker 2: around two percent. The tariff news helped some of the

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Speaker 2: healthcare stocks, with CSL rising nearly four percent. Telstra was

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Speaker 2: also a strong performer. The big banks have had a

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Speaker 2: few slower sessions, but All four and m Macquarie Group

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Speaker 2: were higher yesterday. In contrast, the big miners were lower,

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Speaker 2: and the probably biggest piece of corporate news, wealth management

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Speaker 2: platform Hub twenty four jump more than six percent after

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Speaker 2: announcing an increase in funds under management. This stock is

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Speaker 2: up one hundred and twenty percent over the past year.

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Speaker 2: It's been one of the best.

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Speaker 1: There's also good economic news out of China, which is

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Speaker 1: of course good for the local economy, especially our commodity exporters.

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Speaker 2: Yes growth figures showed China expanding at a five point

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Speaker 2: two percent pace, above expectations and despite the imposition of

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Speaker 2: US tariffs. In terms of the numbers, Bitcoin hit another record,

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Speaker 2: pushing above one hundred and twenty three thousand US dollars

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Speaker 2: a unit. It's up nine percent in the past five sessions,

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Speaker 2: seventy six percent since Donald Trump was elected. Last November,

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Speaker 2: goals fetching thirty three fifty five US dollars announced, oils

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Speaker 2: trading just under sixty nine US dollars a barrel, the

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Speaker 2: Elsie dollars buying sixty five and a half years cents.

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Speaker 1: Sure, and it's time for business by Numbers this week.

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Speaker 1: The top three numbers to Know for the week, brought

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Speaker 1: to you by zero dot com slash au tell us

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Speaker 1: about those.

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Speaker 2: Well, you can't go past that one hundred and twenty

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Speaker 2: three thousand US dollars a unit for the value bitcoin stunning. Stunning,

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Speaker 2: That's the only way to put it. It has so

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Speaker 2: many friends out there. The next one might not get

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Speaker 2: the headlines really important to Australia five point two percent.

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Speaker 2: That's China's and you'll grow straight if China does well.

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Speaker 2: Australia does well with the Prime minister in that country.

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Speaker 2: I mean, it's certainly a worthy part of business. Pin numbers.

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Speaker 2: The other one, we haven't gotten to this story yet,

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Speaker 2: but you know it's all, it's a prelude ease a

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Speaker 2: tas one point two billion dollars. That's how much the

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Speaker 2: Reserve Bank reckons consumers can save if surch charges on

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Speaker 2: credit and debit cards are dropped.

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Speaker 1: Well, that's in everyone's interest. That's a great one, Sean.

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Speaker 1: Thank you. We'll be back in a moment with the

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Speaker 1: rest of the day's business news. Sean. The Reserve Bank

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Speaker 1: wants to overhaul the payment system, banning surcharges on credit

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Speaker 1: and debit cards, saving consumers more than one billion dollars

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Speaker 1: a year.

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Speaker 2: Under a planned overhaul, the Reserve Bank would be surg

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Speaker 2: charges on all debit and credit transactions under the FTPOSS,

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Speaker 2: master Card and Visa networks. There are sixteen point eight

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Speaker 2: million credit and charge cards registered in Australia and forty

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Speaker 2: eight point five million debit cards. The Reserve Bank also

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Speaker 2: wants to force banks to publish previously hidden fees levied

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Speaker 2: on retailers. It's also calling for interchange fees, which are

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Speaker 2: paid between a merchant and a shoppers bank, to be lowered,

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Speaker 2: saving businesses one point two billion dollars annually if the

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Speaker 2: reductions are passed on in full. The Central Bank says

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Speaker 2: It estimates that ninety percent of Australian businesses will be

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Speaker 2: better off under the changes. Governor Michelle Bullock said the

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Speaker 2: time has come to address some of these high costs

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Speaker 2: and inefficiencies in the system. The release of the plan

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Speaker 2: kicks off a six week consulting period and the government

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Speaker 2: has already said it wants to ban surch charging on

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Speaker 2: debit transactions. The recommendation as credit card transactions going further

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Speaker 2: than what the Albanezy government has proposed.

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Speaker 1: That is very exciting and shown onto the federal election,

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Speaker 1: which was held two and a half months ago. The

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Speaker 1: results counting isn't quite over yet, with an unsuccessful Liberal

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Speaker 1: candidate in the seat of Bradfield in Sydney's North asking

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Speaker 1: the High Court to examine a small number of disputed

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Speaker 1: ballot papers.

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Speaker 2: Are you a Bradfield Electorate member?

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Speaker 1: I am? I'm in benel Oh.

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Speaker 2: You're Benelong if you think, Oh my word, I'm a

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Speaker 2: Bradfield residence. So I've been watching this one closely to

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Speaker 2: LMP Nicolett Bowl won the one time blue ribbon Liberal

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Speaker 2: seat by just twenty six votes and will be sworn

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Speaker 2: in as a Member of Parliament when Camber sits again

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Speaker 2: next week. The Liberal candidate Giselle Capterian was initially declared

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Speaker 2: the winner by eight votes, then she lost the recount.

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Speaker 2: Capterian said she had full respect for the Australian Electoral

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Speaker 2: Commission and integrity of the process, but she's entitled under

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Speaker 2: the law to request a judge count a small number

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Speaker 2: of disputed ballot papers. Bowl said she'll seek community donations

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Speaker 2: to fund her defense.

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Speaker 1: Staying in the political arena, Shoan former Labor Prime Minister

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Speaker 1: Paul Keating has been asked to become a strategic advisor

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Speaker 1: on East Asia to Indonesian President Proboo Subianto and join

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Speaker 1: the advisory board of Indonesia's Sovereign Wealth Fund.

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Speaker 2: Probobo invited Keating to take on the roles, according to

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Speaker 2: the AFR. Now, Keating's confirmed the invitation but isn't commenting.

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Speaker 2: The wealth fund, launched by Probawo in February is nine

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Speaker 2: hundred billion US dollars one point for a Trullian ossie,

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Speaker 2: and it obviously manages that including several state owned enterprises.

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Speaker 2: It's one of the largest sovereign wealth funds in the

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Speaker 2: world and central to Proboos push to boost economic growth.

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Speaker 2: In Indonesia to eight percent a year by twenty twenty nine.

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Speaker 1: Well, stay tuned to that one. Sean consumer sentiment is

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Speaker 1: on the rise slowly, though there are still more pessimists

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Speaker 1: than optimists in the local economy.

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Speaker 2: The west Pac Melbourne Institute survey shows an increase in

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Speaker 2: sentiment in June, following rises in April and May. However,

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Speaker 2: it's coming off a very low base. Pessimism prevails. Miserable

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Speaker 2: bunch out there at all. Miserable bunch the measure in

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Speaker 2: the survey that's lagging most his family finances versus a

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Speaker 2: year ago. The consumers are more upbeat about the next

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Speaker 2: twelve months, not surprisingly over the past five years, so

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Speaker 2: way journers. They're the ones who still feel worse off. Now,

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Speaker 2: that's not a surprise because price levels are up twenty

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Speaker 2: percent in the last five years. Wage is just fifteen percent.

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Speaker 1: That'll do it. Sean. There is more trouble for Bowen

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Speaker 1: Coking Coal. Just days after it started training again following

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Speaker 1: concerns about its liquidity, an Indonesian contracting group at its

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Speaker 1: Buron mine in Queensland want payment of fifteen million dollars.

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Speaker 2: The demands have led Bowen to reconsider whether to continue

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Speaker 2: to negotiate with lenders and Queensland officials for a deal

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Speaker 2: to guarantee operations. Bowen started training again on Monday, having

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Speaker 2: been suspended for two weeks or more than two weeks,

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Speaker 2: after warning that depressed coal prices in the Queensland State

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Speaker 2: Coal Royalty regime had led to a deterioration in its

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Speaker 2: financial position. Shareplace fell twenty five percent yesterday. It's down

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Speaker 2: ninety nine percent over the past year.

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Speaker 1: Ouch Sean Australian consumers are still buying online in very

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Speaker 1: high numbers, but they are changing the way they shop,

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Speaker 1: with nearly three quarters of people cutting back on non

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Speaker 1: essential items on the back of the high costs of living.

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Speaker 2: The report from IAB and pure profile Or released today

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Speaker 2: shows that it isn't just cost that matters. Convenience matters,

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Speaker 2: so to rewards, sustainability and transparency across a broad range

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Speaker 2: of products, Online shoppers use an average of four point

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Speaker 2: eight touch points. So you know you're going to buy

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Speaker 2: a pair of shoes. This is me at the moment

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Speaker 2: you do an online search, You got to different retailer sites,

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Speaker 2: you ask friends, personal connections, you look at ratings, social media,

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Speaker 2: all important sources. Search remains the top discovery tool overall,

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Speaker 2: particularly for the over fifties. Okay, the smart guys, presence,

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Speaker 2: social media, social media and influencers are key to millennial

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Speaker 2: and gen Z online shoppers. Free shipping thresholds, easy and

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Speaker 2: free returns, and far shipping or rank as very important offerings,

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Speaker 2: and almost half of online shoppers say real time product

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Speaker 2: availability information is very important, as is real time delivery tracking.

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Speaker 2: So I'm trying to buy my shoes, so I thirteen.

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Speaker 2: I finally, after about an hour of looking, realize that's

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Speaker 2: the one I gain a click on it. Unavailable, gone

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Speaker 2: nothing over.

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Speaker 1: Eleven, Adam bought them.

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Speaker 2: That's right sewn.

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Speaker 1: In international news, Donald Trump has threatened to impose stiff

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Speaker 1: financial penalties on Russia if it does not end hostilities

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Speaker 1: with Ukraine, even as he pledged fresh weapons supplies for Kiev.

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Speaker 2: The US presidents of the US will set tariffs at

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Speaker 2: about one hundred percent if there isn't a deal to

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Speaker 2: stop the war with Ukraine in fifty days. Trump says

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Speaker 2: the levees will come in the form of secondary tariffs,

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Speaker 2: without providing any real details on that. According to Bloomberg Now,

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Speaker 2: the US president has used that term in the past

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Speaker 2: to describe duties imposed on countries for trading with American adversaries.

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Speaker 2: So if you trade with someone they don't like, yeah, yeah,

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Speaker 2: you might get hit with that tariff.

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Speaker 1: Sean Animals react to sounds being made by plants. New

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Speaker 1: research suggests opening up the possibility that an invisible ecosystem

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Speaker 1: might exist between them.

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Speaker 2: Story of the year, It is intrigued, it is fantastic.

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Speaker 2: In the first ever such evidence, a team at Tel

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Speaker 2: Aviv University found that female moths avoided laying their eggs

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Speaker 2: on tomato plants if the plants made noises they associated

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Speaker 2: with distress, indicating that they may be unhealthy. According to

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Speaker 2: report on the BBC, I'm looking at your face here,

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Speaker 2: you're like, this is fascin What is so that This

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Speaker 2: team at Tele Aviv University was the first to show

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Speaker 2: two years ago that plants scream when they are distressed

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Speaker 2: or unhealthy. The sounds are outside the range of human hearing,

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Speaker 2: but can be perceived by many insects, bats, and some mammals.

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Speaker 2: The academics concedes the bit this speculation at this stage,

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Speaker 2: but it's very possible that all sorts of animals make

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Speaker 2: decisions based on the sounds they hear from plants, So

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Speaker 2: whether to pollinate, for example, or hide inside them or

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Speaker 2: whether to eat them, just depending on what the plant

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Speaker 2: is telling them. Another area of investigation is whether plants

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Speaker 2: can pass information to each other through sound. Through sound

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Speaker 2: and act in response, they've kind of talk to each other.

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Speaker 2: So it might be conserving water and drag conditions. That

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Speaker 2: type of thing. Isn't that amazing. It's this whole ecosystem

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Speaker 2: which might be out there which we are not privy

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Speaker 2: to in any way, shape or form, well sewn.

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Speaker 1: You remember how Prince Charles used to talk to plants.

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Speaker 1: I wonder if he could hear them.

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Speaker 2: Maybe they were talking about it's one of the few

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Speaker 2: humans who could you never know.

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Speaker 1: There you go, so Sean, immediately after the show, we

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Speaker 1: want everyone to stay listening for your chat with Hurry

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Speaker 1: Harra Priya Kanan, chief data scientist for the Demographics Group.

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Speaker 2: It is a great chat. We decided because we had

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Speaker 2: a story yesterday about the census being tested, yeah in

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Speaker 2: August six, Yeah, taking it. And so we thought, what

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Speaker 2: is this census about, why it's it important? What are

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Speaker 2: we going to find out about it? And then we

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Speaker 2: went onto some major issues that the Census has helped

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Speaker 2: inform us on. So we talked to Harry about that

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Speaker 2: really interesting chat. Every time I talk to demographer, I

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Speaker 2: just find myself going down rabbit holes that are so fascinating,

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Speaker 2: so it is well worth a listen.

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Speaker 1: Adam, I'm going to tune in. That's up next in

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Speaker 1: the Fear and Greed playlist on your favorite podcast platform

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Speaker 1: or at Fearangreed dot com dot au. Thank you, Sean,

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Speaker 1: Thank you Adam. It's Wednesday, the sixteenth of July twenty

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Speaker 1: twenty five. Make sure you're following the podcast. Join us

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Speaker 1: online on LinkedIn, Instagram, x TikTok, and Facebook, and please

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Speaker 1: have a great day. F