1 00:00:06,320 --> 00:00:09,760 Michael Thompson: Today on Fear and Greed, Telstra unveils a major restructure 2 00:00:09,840 --> 00:00:13,920 Michael Thompson: focused on pushing into AI and owning infrastructure assets. TAB 3 00:00:14,000 --> 00:00:18,040 Michael Thompson: Corp upsets pub owners over TAB terminals and eighty five 4 00:00:18,120 --> 00:00:22,079 Michael Thompson: percent of Australians are likely to carry dangerous forever chemicals 5 00:00:22,079 --> 00:00:25,159 Michael Thompson: in their bloodstream. Plus, Jacqui Lambie wins a seat in 6 00:00:25,200 --> 00:00:28,680 Michael Thompson: the Senate, and the Kremlin suggests Donald Trump is showing 7 00:00:28,760 --> 00:00:32,320 Michael Thompson: signs of emotional overload. Welcome to Fear and Greed, daily 8 00:00:32,360 --> 00:00:34,519 Michael Thompson: business news for people who make their own decisions. It 9 00:00:34,600 --> 00:00:37,639 Michael Thompson: is Wednesday, the twenty eighth of May twenty twenty five. 10 00:00:37,760 --> 00:00:39,920 Michael Thompson: I'm Michael Thompson and good morning Sean Aylmer. 11 00:00:40,000 --> 00:00:40,960 Sean Aylmer: Good morning Michael. 12 00:00:41,040 --> 00:00:46,519 Michael Thompson: Sean, another action packed newsletter out today. If you haven't subscribed already, 13 00:00:46,520 --> 00:00:49,159 Michael Thompson: it is entirely free. Head along to Fearangreed dot com 14 00:00:49,159 --> 00:00:51,319 Michael Thompson: dot au pop your email addressing. I'll put a link 15 00:00:51,360 --> 00:00:53,279 Michael Thompson: in today's show notes as well. You get it in 16 00:00:53,320 --> 00:00:55,720 Michael Thompson: you'ur inbox by six o'clock every morning. A quick cheat 17 00:00:55,760 --> 00:00:59,200 Michael Thompson: sheet to help you stay ahead of your competitors at work. 18 00:00:59,240 --> 00:01:01,240 Michael Thompson: I was about to say, your friends and your colleagues 19 00:01:01,240 --> 00:01:03,760 Michael Thompson: and your rivals. You will be in front. Shown the 20 00:01:03,800 --> 00:01:08,039 Michael Thompson: main story this morning. Telstra is going big into artificial intelligence, 21 00:01:08,080 --> 00:01:12,040 Michael Thompson: with Chief executive Vicky Brady outlining a five year plan 22 00:01:12,280 --> 00:01:15,360 Michael Thompson: aimed at repositioning the telco as a business focused on 23 00:01:15,400 --> 00:01:17,679 Michael Thompson: connectivity and infrastructure operations. 24 00:01:17,840 --> 00:01:21,640 Sean Aylmer: She launched what it is calling connected Future thirty strategy 25 00:01:21,720 --> 00:01:25,640 Sean Aylmer: rolls off the tongue, doesn't Future thirty can say the 26 00:01:25,720 --> 00:01:29,399 Sean Aylmer: company wants to double down on connectivity and radically innovate 27 00:01:29,480 --> 00:01:32,200 Sean Aylmer: its core business. Telstra wants to be the number one 28 00:01:32,319 --> 00:01:34,880 Sean Aylmer: choice for that for connectivity. So we're not going to 29 00:01:34,880 --> 00:01:38,959 Sean Aylmer: be talking about phones and mobiles and price solutions, all 30 00:01:38,959 --> 00:01:42,520 Sean Aylmer: about connectivity. Michael. Three parts to it, Getting closer to 31 00:01:42,600 --> 00:01:46,039 Sean Aylmer: the customer, customer engagement, fair enough network as a product, 32 00:01:46,120 --> 00:01:48,680 Sean Aylmer: so getting as many people to be part of the 33 00:01:48,760 --> 00:01:52,560 Sean Aylmer: Telstra ecosystem as possible. I think Apple. You know you're 34 00:01:52,680 --> 00:01:54,920 Sean Aylmer: sort of an Apple person or you're not. It's kind 35 00:01:54,920 --> 00:01:58,560 Sean Aylmer: of along those lines, right, and digital infrastructure. Telcher wants 36 00:01:58,560 --> 00:02:02,000 Sean Aylmer: to be the leading network value from it. It wants 37 00:02:02,040 --> 00:02:04,360 Sean Aylmer: to be in the top twenty five percent of global 38 00:02:04,480 --> 00:02:09,960 Sean Aylmer: enterprises in AI maturity by twenty thirty. Behind all this 39 00:02:10,120 --> 00:02:14,560 Sean Aylmer: is changing customer demands. Now people want flexibility, so I 40 00:02:14,639 --> 00:02:16,880 Sean Aylmer: might catch the train home and I might want to 41 00:02:16,919 --> 00:02:19,920 Sean Aylmer: be streaming what would I be streaming. 42 00:02:19,600 --> 00:02:23,000 Michael Thompson: Mo, well, a TV show to a TV show you 43 00:02:23,040 --> 00:02:26,359 Michael Thompson: would be watching, you'd be watching Severance. I feel like 44 00:02:26,400 --> 00:02:27,320 Michael Thompson: you're a severing evelo. 45 00:02:27,480 --> 00:02:30,720 Sean Aylmer: Yep. You might be driving an EV on a freeway 46 00:02:30,720 --> 00:02:32,639 Sean Aylmer: and you want to make sure connectivity is working there. 47 00:02:33,360 --> 00:02:35,639 Sean Aylmer: You might be recording a podcast from a car and Cooba. 48 00:02:36,120 --> 00:02:38,720 Michael Thompson: Well, that is one that you can actually say you've done. 49 00:02:39,320 --> 00:02:42,040 Sean Aylmer: The whole idea is that whatever you need in a 50 00:02:42,120 --> 00:02:45,560 Sean Aylmer: connected world, Telstra is there to supply the solution to you. 51 00:02:46,160 --> 00:02:48,160 Sean Aylmer: That's the plan. That's what they're trying to get to. 52 00:02:48,400 --> 00:02:51,280 Michael Thompson: Okay, but it seems like Telstra doesn't just want to 53 00:02:51,360 --> 00:02:54,240 Michael Thompson: offer five G and the fiber optic communications, but it 54 00:02:54,280 --> 00:02:56,640 Michael Thompson: wants to own the digital infrastructure. 55 00:02:57,120 --> 00:03:00,600 Sean Aylmer: Yes, so it's really Telstra's big play. It's INFRAC business. 56 00:03:00,919 --> 00:03:03,680 Sean Aylmer: Wants to deliver intercity fiber optic cable that already has 57 00:03:03,720 --> 00:03:07,000 Sean Aylmer: about four thousand kilometers of intercity fiber in the ground. 58 00:03:07,200 --> 00:03:11,600 Sean Aylmer: It's also owned subse cables and other infrastructure. If it 59 00:03:11,600 --> 00:03:15,040 Sean Aylmer: can clip the ticket when people use that infrastructure, it's 60 00:03:15,080 --> 00:03:17,520 Sean Aylmer: a way of making money. A tailor revers or former 61 00:03:17,600 --> 00:03:21,480 Sean Aylmer: CEO Andy Penn's plan. He more or less put Infraco 62 00:03:21,600 --> 00:03:24,800 Sean Aylmer: into a separate business. People thought they wanted to sell 63 00:03:24,800 --> 00:03:28,800 Sean Aylmer: it off. Current chief executive Vicki Bradys's demand for connectivity 64 00:03:28,840 --> 00:03:31,400 Sean Aylmer: is growing. We will continue to do so that's an 65 00:03:31,400 --> 00:03:35,880 Sean Aylmer: opportunity for Telstrat. That's why it needs infrastructure assets. Potentially 66 00:03:36,120 --> 00:03:38,800 Sean Aylmer: it can discriminate on pricing if it owns the assets 67 00:03:38,880 --> 00:03:43,200 Sean Aylmer: and that ecosystem. So a gamer might want to pay 68 00:03:43,240 --> 00:03:47,120 Sean Aylmer: more for high speed uploads downloads for a couple of 69 00:03:47,160 --> 00:03:50,360 Sean Aylmer: hours a day, but not all day for example. A 70 00:03:50,480 --> 00:03:54,200 Sean Aylmer: corporate will want ultra low latency at certain times. A 71 00:03:54,200 --> 00:03:56,680 Sean Aylmer: food vendor at a festival doesn't need to pay the 72 00:03:56,760 --> 00:03:59,200 Sean Aylmer: higher prices all the time, just some of the time. 73 00:03:59,400 --> 00:03:59,960 Michael Thompson: That makes sense. 74 00:04:00,480 --> 00:04:04,480 Sean Aylmer: So the idea is that it can almost kind of 75 00:04:05,760 --> 00:04:11,200 Sean Aylmer: discriminate in pricing and potentially push prices higher when people 76 00:04:11,240 --> 00:04:13,920 Sean Aylmer: really need it. Tells to reaffirmed it's profit guidance, said 77 00:04:13,920 --> 00:04:15,800 Sean Aylmer: it wants to keep growing dividends to its one point 78 00:04:15,800 --> 00:04:18,640 Sean Aylmer: three million shareholders. Its share price is now the highest 79 00:04:18,640 --> 00:04:21,080 Sean Aylmer: it's been since twenty seventeen, up thirty three percent over 80 00:04:21,080 --> 00:04:24,360 Sean Aylmer: the past year. Be interesting to see how Vicky Brady 81 00:04:24,440 --> 00:04:25,200 Sean Aylmer: rolls this one out. 82 00:04:25,400 --> 00:04:29,200 Michael Thompson: Yeah, indeed, and you mentioned the Infraco business and recently 83 00:04:29,320 --> 00:04:32,320 Michael Thompson: Telstra has recruited Stephen Worrell, who is the head of 84 00:04:32,360 --> 00:04:36,680 Michael Thompson: Microsoft in Australia indeed to run that business. And so 85 00:04:36,880 --> 00:04:40,880 Michael Thompson: definitely kind of steering towards that AI and technology space 86 00:04:42,000 --> 00:04:47,480 Michael Thompson: away from Telstra, heading towards politics. Now sean Tasmanian Senator 87 00:04:47,560 --> 00:04:51,039 Michael Thompson: Jackie Lamby, who's always good value, isn't she great value? 88 00:04:51,080 --> 00:04:53,520 Sean Aylmer: I think about Jackielmby, she kind of makes sense more 89 00:04:53,520 --> 00:04:53,880 Sean Aylmer: and more. 90 00:04:54,000 --> 00:04:57,520 Michael Thompson: Oh absolutely, And this is clearly why people she has 91 00:04:57,560 --> 00:05:01,160 Michael Thompson: connected with the people of tasmani because she just tells 92 00:05:01,160 --> 00:05:04,240 Michael Thompson: it like it is. Yes, She's retained a Senate seat 93 00:05:04,320 --> 00:05:06,680 Michael Thompson: after speculation that she could lose it to One Nation 94 00:05:06,839 --> 00:05:09,799 Michael Thompson: candidate Lee Hanson, who is the daughter of party leader 95 00:05:09,920 --> 00:05:10,680 Michael Thompson: Paul and Hanson. 96 00:05:10,800 --> 00:05:12,960 Sean Aylmer: So two of the six Tasmanian Senate spots were in 97 00:05:13,000 --> 00:05:17,480 Sean Aylmer: doubt for weeks. Lamby was in limbo alongside Liberal Richard Colbeck. 98 00:05:17,720 --> 00:05:22,159 Sean Aylmer: Those two have been returned. Despite her return, Labors likely 99 00:05:22,240 --> 00:05:25,760 Sean Aylmer: to negotiate less with her and David Pocock this parliament 100 00:05:25,760 --> 00:05:28,280 Sean Aylmer: compared to the last one. They're either they're probably going 101 00:05:28,320 --> 00:05:31,200 Sean Aylmer: to be negotiating Martha Green's or coalition in the Senate, 102 00:05:31,560 --> 00:05:33,560 Sean Aylmer: as support from either group will be enough for the 103 00:05:33,600 --> 00:05:36,599 Sean Aylmer: government to pass the legislation, pretty much diminishes the power 104 00:05:36,640 --> 00:05:40,280 Sean Aylmer: that independence and minor parties have in the Upper House. Meanwhile, 105 00:05:40,320 --> 00:05:43,000 Sean Aylmer: one you pointed out to me, Prime Minister Scott Morrison, 106 00:05:43,440 --> 00:05:46,599 Sean Aylmer: of course, the founder of the landmark Orcus Agreement, has 107 00:05:46,640 --> 00:05:50,640 Sean Aylmer: proposed taking the security partnership into the space domain to 108 00:05:50,760 --> 00:05:54,120 Sean Aylmer: bolster its effectiveness as a military deterrent and make Australia 109 00:05:54,160 --> 00:05:55,200 Sean Aylmer: a more valuable ally. 110 00:05:56,520 --> 00:05:59,640 Michael Thompson: It was like a big step. Doesn't us heading into 111 00:05:59,640 --> 00:06:02,400 Michael Thompson: space with August. You can't even get a submarine in 112 00:06:02,400 --> 00:06:05,320 Michael Thompson: the water just yet. Finally, Shan before we had to 113 00:06:05,320 --> 00:06:08,039 Michael Thompson: a break form a Reserve Bank Governor Philip Lowe says 114 00:06:08,080 --> 00:06:11,120 Michael Thompson: the rising cost of energy in Australia has become a 115 00:06:11,240 --> 00:06:15,479 Michael Thompson: national liability and he says importing LNG to solve forecast 116 00:06:15,520 --> 00:06:18,400 Michael Thompson: gas shortfalls isn't actually a good option. 117 00:06:18,760 --> 00:06:21,599 Sean Aylmer: Philo was speaking at a gas industry conference in Brisbane. 118 00:06:21,640 --> 00:06:23,839 Sean Aylmer: He said energy policy was one of the many levers 119 00:06:23,839 --> 00:06:26,760 Sean Aylmer: that government could pull to address stagnating productivity. He said 120 00:06:26,880 --> 00:06:29,920 Sean Aylmer: energies turned from a national asset. It has some great 121 00:06:30,040 --> 00:06:35,320 Sean Aylmer: energy assets to a national liability, unreliable, high cost. He said, 122 00:06:35,360 --> 00:06:40,040 Sean Aylmer: it is key to find more domestic supply in energy, 123 00:06:40,080 --> 00:06:41,440 Sean Aylmer: mind you, He then went on to say, well what 124 00:06:41,480 --> 00:06:44,720 Sean Aylmer: about housing, capital, infrastructure, more supply there. If you can 125 00:06:44,760 --> 00:06:47,920 Sean Aylmer: find more supply in these areas, you can improve productivity 126 00:06:47,960 --> 00:06:49,800 Sean Aylmer: and that's what all boils down to an economics at 127 00:06:49,839 --> 00:06:50,159 Sean Aylmer: the moment. 128 00:06:50,480 --> 00:06:52,320 Michael Thompson: Speaking of liabilities, if you want to see a couple 129 00:06:52,360 --> 00:06:56,599 Michael Thompson: of liabilities live in action, we are doing the Fear 130 00:06:56,760 --> 00:07:01,960 Michael Thompson: and Greed Weekend Edition live next week Thursday. Of next week, Thursday, 131 00:07:02,000 --> 00:07:05,960 Michael Thompson: the fifth of June. It is in Sydney. Tickets are free. 132 00:07:06,120 --> 00:07:09,040 Michael Thompson: It is on on Thursday evening. It coincides with the 133 00:07:09,120 --> 00:07:11,760 Michael Thompson: launch of my new novel called All the Perfect Days, 134 00:07:11,760 --> 00:07:13,280 Michael Thompson: which you are reading at the moment. 135 00:07:13,040 --> 00:07:14,640 Sean Aylmer: Sean a third of the way through. 136 00:07:14,880 --> 00:07:17,920 Michael Thompson: Excellent. No spoilers please, I mean you could spoil it 137 00:07:17,920 --> 00:07:19,880 Michael Thompson: for me. I know what happens. But if you'd like 138 00:07:19,960 --> 00:07:23,320 Michael Thompson: to come along to the book launch slash weekend edition 139 00:07:23,480 --> 00:07:27,480 Michael Thompson: live recording where anything could and possibly will go wrong, 140 00:07:28,400 --> 00:07:30,640 Michael Thompson: you can find the link in today's show notes. Tickets, 141 00:07:30,680 --> 00:07:32,560 Michael Thompson: as I mentioned, are free. You can also get them 142 00:07:32,560 --> 00:07:35,040 Michael Thompson: at event bright Is where we are doing all of 143 00:07:35,080 --> 00:07:38,120 Michael Thompson: that we need to take a quick break. Sean will 144 00:07:38,160 --> 00:07:39,280 Michael Thompson: be back in a moment with the rest of the 145 00:07:39,360 --> 00:07:50,160 Michael Thompson: day's business news. Sean. Tabcorp has lost a few friends 146 00:07:50,240 --> 00:07:54,640 Michael Thompson: among publicans, with the group proposing to drop all commissions 147 00:07:54,800 --> 00:07:58,200 Michael Thompson: for hotels hosting TAB Corp's wagering venues. 148 00:07:58,240 --> 00:08:01,040 Sean Aylmer: This is a big call, yes, So instead tab court 149 00:08:01,080 --> 00:08:03,880 Sean Aylmer: will host a bunch of new promotions only available to 150 00:08:03,960 --> 00:08:07,520 Sean Aylmer: punters in pubs. So where the hotel loses on commission, 151 00:08:07,760 --> 00:08:10,480 Sean Aylmer: the theory is that they make it up on sales. 152 00:08:11,280 --> 00:08:12,800 Michael Thompson: Okay, it's going to. 153 00:08:12,720 --> 00:08:15,760 Sean Aylmer: Be called tab Time on Saturday afternoon, even though it 154 00:08:15,760 --> 00:08:19,559 Sean Aylmer: could be Thursday night tap Time on Saturday. Three. Seven 155 00:08:19,640 --> 00:08:22,480 Sean Aylmer: hundred pubs and clubs around the country will be affected. 156 00:08:23,040 --> 00:08:25,880 Sean Aylmer: They're not necessarily that happy. They most do also realize 157 00:08:25,920 --> 00:08:29,480 Sean Aylmer: that tab Court needs to rethink its revenue model and 158 00:08:29,560 --> 00:08:32,680 Sean Aylmer: its cost model. Tabs Courts proposing to remove daily fees 159 00:08:32,720 --> 00:08:35,800 Sean Aylmer: paid to hotels for hosting betting terminals and booths, and 160 00:08:35,920 --> 00:08:38,680 Sean Aylmer: commissions paid for new customer sign ups, and no longer 161 00:08:38,720 --> 00:08:41,720 Sean Aylmer: pay a fief punters deposit money through the pub. However, 162 00:08:41,800 --> 00:08:45,160 Sean Aylmer: it will maintain some commissions for turnover for most pubs. 163 00:08:45,559 --> 00:08:47,679 Michael Thompson: I love this next story Sean What of Australia is 164 00:08:47,720 --> 00:08:50,800 Michael Thompson: best known and most colorful judges in the way that 165 00:08:50,880 --> 00:08:55,640 Michael Thompson: he expresses things. Justice Michael Lee has warned the directors 166 00:08:56,400 --> 00:08:59,920 Michael Thompson: of companies if they pocket cash from their roles, then 167 00:09:00,880 --> 00:09:03,400 Michael Thompson: extraordinarily they actually need to do the work. 168 00:09:04,920 --> 00:09:07,280 Sean Aylmer: The warning came as a corporate regulator wraps up its 169 00:09:07,320 --> 00:09:10,439 Sean Aylmer: case against the former board of troubled casino operate a 170 00:09:10,480 --> 00:09:15,240 Sean Aylmer: Star Entertainment. Justice Lee, certainly known for flourishers, warned he 171 00:09:15,280 --> 00:09:19,280 Sean Aylmer: has grown frustrated by the Star director's argument that they 172 00:09:19,280 --> 00:09:21,520 Sean Aylmer: should not have the burden of going through hundreds of 173 00:09:21,559 --> 00:09:24,360 Sean Aylmer: pages of documents that may have shed light on money 174 00:09:24,400 --> 00:09:27,680 Sean Aylmer: laundering by junket operators. You know the board papers. We 175 00:09:27,720 --> 00:09:29,280 Sean Aylmer: don't really have to go through them, do we know. 176 00:09:30,200 --> 00:09:33,040 Sean Aylmer: The austral Securities Investments Commission is suing nine former Star 177 00:09:33,160 --> 00:09:36,839 Sean Aylmer: executives and directors, alleging they failed to appropriately manage risk 178 00:09:36,920 --> 00:09:39,640 Sean Aylmer: and opened the company up to serious harm according to 179 00:09:39,640 --> 00:09:43,319 Sean Aylmer: the fin review. Over to Justice Lee, he said, people 180 00:09:43,440 --> 00:09:46,199 Sean Aylmer: just can't keep on saying that, oh, well it's all 181 00:09:46,240 --> 00:09:48,320 Sean Aylmer: too difficult for us to read the material it's presented 182 00:09:48,360 --> 00:09:51,880 Sean Aylmer: to the board. These non executive directors say, well, don't 183 00:09:51,880 --> 00:09:54,400 Sean Aylmer: give me all the director's fees. Please don't give me 184 00:09:54,480 --> 00:09:57,120 Sean Aylmer: all my director's fees because I can't get through the work. 185 00:09:57,520 --> 00:09:59,880 Sean Aylmer: I don't think that happens. That's according to justice. 186 00:09:59,880 --> 00:10:02,160 Michael Thompson: Lie. The thing is, we have a lot of directors 187 00:10:02,160 --> 00:10:04,120 Michael Thompson: that listen to this podcast, so we'll just be hearing 188 00:10:04,120 --> 00:10:07,079 Michael Thompson: this just shaking their heads. They take their duties very, 189 00:10:07,200 --> 00:10:08,480 Michael Thompson: very seriously. 190 00:10:08,120 --> 00:10:10,800 Sean Aylmer: Absolutely, and so they should absolutely. 191 00:10:10,559 --> 00:10:13,800 Michael Thompson: Anyway, Sean, this next, this one is a worry. Eighty 192 00:10:13,840 --> 00:10:17,240 Michael Thompson: five percent of Australians have at least three types of 193 00:10:17,320 --> 00:10:22,160 Michael Thompson: pfas otherwise known as forever chemicals in their bloodstream, with 194 00:10:22,360 --> 00:10:26,480 Michael Thompson: older people more likely to demonstrate the chemicals and males 195 00:10:26,559 --> 00:10:29,319 Michael Thompson: more likely to contain pfas than females. 196 00:10:29,559 --> 00:10:34,360 Sean Aylmer: So forever chemicals probably known as you're laughing at me already, 197 00:10:35,200 --> 00:10:42,320 Sean Aylmer: good luck per and polyfluoro acle per and polyfluoro acle substances. 198 00:10:43,080 --> 00:10:48,920 Sean Aylmer: Pretty good, that's gone. Forever p chemicals. They're synthetic chemicals 199 00:10:48,920 --> 00:10:52,079 Sean Aylmer: that persist in the environment and human bodies. They don't 200 00:10:52,160 --> 00:10:54,840 Sean Aylmer: break down very easily. They come from stuff like nonstick 201 00:10:54,880 --> 00:10:58,320 Sean Aylmer: cook where, stained resistant clothing. Firefighting fame is a big one, 202 00:10:58,400 --> 00:11:02,240 Sean Aylmer: but they also come from foods, some process needs. Te's lollies, 203 00:11:02,320 --> 00:11:07,760 Sean Aylmer: sports drinks, some bottled water. They hurt the immune and 204 00:11:07,840 --> 00:11:11,720 Sean Aylmer: thyroid functions, livers, kidneys, increase the risk of some cancers. 205 00:11:11,760 --> 00:11:14,520 Sean Aylmer: These are bad now. The abs tested for eleven types 206 00:11:15,040 --> 00:11:19,079 Sean Aylmer: of forever chemicals PFAS is to create a baseline for 207 00:11:19,120 --> 00:11:22,280 Sean Aylmer: the Australian population. Of the eleven tested, three types are 208 00:11:22,280 --> 00:11:25,679 Sean Aylmer: in eighty five percent of US, six types are in 209 00:11:25,840 --> 00:11:28,640 Sean Aylmer: ten percent. The remaining two types are between fifteen and 210 00:11:28,679 --> 00:11:32,040 Sean Aylmer: forty five percent. The good news is that the three 211 00:11:32,080 --> 00:11:35,720 Sean Aylmer: most prevalent pfas is analyzed are less prominent in Australia 212 00:11:35,760 --> 00:11:38,320 Sean Aylmer: than in North America and Europe. But let's face it, 213 00:11:38,400 --> 00:11:40,040 Sean Aylmer: none of us want to have these in our bodies, 214 00:11:40,040 --> 00:11:41,320 Sean Aylmer: and most of us do no. 215 00:11:41,600 --> 00:11:44,800 Michael Thompson: Okay. Local markets quick wrap what happened yesterday? 216 00:11:44,840 --> 00:11:46,640 Sean Aylmer: Pretty quiet day on the back of public holidays in 217 00:11:46,640 --> 00:11:50,680 Sean Aylmer: the US and UK market was up over half percent 218 00:11:50,720 --> 00:11:53,640 Sean Aylmer: to eighty four zero eight points among large caps Westpac 219 00:11:53,679 --> 00:11:56,720 Sean Aylmer: A and z Ed mcquarie. Aperformed Aria was lower, Newmont 220 00:11:56,720 --> 00:11:59,680 Sean Aylmer: went exhibient and it was a bit la. Woodside energies 221 00:11:59,720 --> 00:12:02,560 Sean Aylmer: up lightly ahead of an expected announcement from the federal 222 00:12:02,600 --> 00:12:06,679 Sean Aylmer: government allowing its Northwest Shelf Gas Project ohn OR was 223 00:12:06,679 --> 00:12:09,080 Sean Aylmer: a bit lower and that hurt the big miners. Sean. 224 00:12:09,160 --> 00:12:11,079 Michael Thompson: We do a bit of work with our friends at 225 00:12:11,080 --> 00:12:14,160 Michael Thompson: Osby's Love Osby's indeed, and they've got a great virtual 226 00:12:14,200 --> 00:12:18,480 Michael Thompson: event coming up. It's happening tomorrow at twelve thirty pm. 227 00:12:19,440 --> 00:12:22,000 Michael Thompson: It is called this is for investors. It's called three 228 00:12:22,040 --> 00:12:24,960 Michael Thompson: Stocks four, Three Stocks four and you can check it 229 00:12:24,960 --> 00:12:29,080 Michael Thompson: out at osbiz dot co slash three the number three. 230 00:12:29,360 --> 00:12:31,680 Sean Aylmer: Yeah, it's a great format. It's brought together ten of 231 00:12:31,720 --> 00:12:34,240 Sean Aylmer: the top fund managers around the place. They're pitching their 232 00:12:34,240 --> 00:12:35,560 Sean Aylmer: best stock ideas. Yeah. 233 00:12:35,640 --> 00:12:37,840 Michael Thompson: So it's basically you got three ideas in one quick 234 00:12:37,880 --> 00:12:40,199 Michael Thompson: session that you can sign up if you are interested, 235 00:12:40,240 --> 00:12:43,560 Michael Thompson: head along to Osby's dot co slash three the numeral 236 00:12:43,600 --> 00:12:47,199 Michael Thompson: three Thursday, twelve thirty pm. That is tomorrow, half past midday, 237 00:12:47,200 --> 00:12:49,040 Michael Thompson: three Stocks four. It's called We'll put a link in 238 00:12:49,080 --> 00:12:51,000 Michael Thompson: the show notes for the episode, and also you can 239 00:12:51,000 --> 00:12:53,000 Michael Thompson: find it in our newsletter as well. Sean, turning to 240 00:12:53,120 --> 00:12:57,920 Michael Thompson: international news, Now, developing nations, including those in the Pacific, 241 00:12:58,240 --> 00:13:01,640 Michael Thompson: we'll pay China thirty five four billion dollars this year 242 00:13:01,800 --> 00:13:05,040 Michael Thompson: as Beijing comes calling for repayments on project funding. 243 00:13:05,200 --> 00:13:08,680 Sean Aylmer: China is now the world's largest single destination for developing 244 00:13:08,720 --> 00:13:11,680 Sean Aylmer: country debt payments, outstripping the whole of the West, says 245 00:13:11,720 --> 00:13:14,679 Sean Aylmer: a new report from the Lower Institute. Under its Built 246 00:13:14,679 --> 00:13:18,120 Sean Aylmer: and Roaded initiative, China has rapidly increased investments in infrastructure 247 00:13:18,360 --> 00:13:20,480 Sean Aylmer: over the last twelve years, or say, it's partnered with 248 00:13:20,720 --> 00:13:23,680 Sean Aylmer: dozens of nations, primarily in the developed world, according to 249 00:13:23,679 --> 00:13:26,760 Sean Aylmer: a report on AAP. In more recent years, Beijing has 250 00:13:26,880 --> 00:13:30,360 Sean Aylmer: changed tax providing a heavier portion of grants which don't 251 00:13:30,360 --> 00:13:34,480 Sean Aylmer: need to be repaid into its mix of development assistance. However, 252 00:13:34,880 --> 00:13:37,520 Sean Aylmer: with standard lending terms including the delay of payments for 253 00:13:37,559 --> 00:13:40,440 Sean Aylmer: several years, you know, for fifteen to twenty year old loans, 254 00:13:40,600 --> 00:13:43,440 Sean Aylmer: it just appears that crunch time has arrived for plenty 255 00:13:43,480 --> 00:13:45,160 Sean Aylmer: of these countries making repayments. 256 00:13:45,600 --> 00:13:47,360 Michael Thompson: Now. I mentioned this at the top of the show. 257 00:13:47,480 --> 00:13:51,760 Michael Thompson: The Kremlin claimed Donald Trump was showing signs of quote, 258 00:13:51,800 --> 00:13:57,520 Michael Thompson: emotional overload after he called Vladimir Putin absolutely crazy following 259 00:13:57,559 --> 00:14:00,640 Michael Thompson: Moscow's largest aerial assault on New Ukraine. 260 00:14:01,040 --> 00:14:04,200 Sean Aylmer: The US president it'd be funny if it wasn't so serious. 261 00:14:04,400 --> 00:14:09,200 Michael Thompson: Yeah, it just it Also, it almost feels like it 262 00:14:09,400 --> 00:14:11,840 Michael Thompson: minimizes the actual tragedy. 263 00:14:11,880 --> 00:14:14,120 Sean Aylmer: Of what is going on that I totally agree. The 264 00:14:14,200 --> 00:14:16,880 Sean Aylmer: US presidents said on truth Social on Sunday that something 265 00:14:16,880 --> 00:14:20,760 Sean Aylmer: has happened to Putin. After Russia kill thirteen in Ukraine 266 00:14:21,000 --> 00:14:23,840 Sean Aylmer: with three hundred and sixty seven drones and missiles, Trump 267 00:14:23,920 --> 00:14:28,280 Sean Aylmer: said he has gone absolutely crazy, needlessly killing a lot 268 00:14:28,320 --> 00:14:32,160 Sean Aylmer: of people. According to the BBC spokesperson responded, he said 269 00:14:32,160 --> 00:14:35,000 Sean Aylmer: the comments were and I quote connected to an emotional 270 00:14:35,240 --> 00:14:39,280 Sean Aylmer: overload of everyone involved in quote. Meanwhile, Germany's chance and 271 00:14:39,320 --> 00:14:43,280 Sean Aylmer: I said that Ukraine's allies had removed all range limits 272 00:14:43,360 --> 00:14:47,800 Sean Aylmer: on supplied arms amid reports he would give Kiev tourists 273 00:14:47,840 --> 00:14:52,200 Sean Aylmer: missiles that basically green lights Kiev to use many of 274 00:14:52,240 --> 00:14:53,560 Sean Aylmer: the weapons provided by the. 275 00:14:53,440 --> 00:14:57,160 Michael Thompson: West Okay Sean. Coming up next, we have an interview. 276 00:14:57,320 --> 00:14:59,880 Michael Thompson: This is a great chat. In the studio. You had 277 00:15:00,000 --> 00:15:02,880 Michael Thompson: Beau Bertoli, who is the chief revenue officer and the 278 00:15:02,880 --> 00:15:04,840 Michael Thompson: co founder at Prospa. 279 00:15:05,240 --> 00:15:07,200 Sean Aylmer: Yes, so we talk about small but I mean Prospa 280 00:15:07,360 --> 00:15:10,880 Sean Aylmer: experts with small business. We talk all about how tough 281 00:15:11,160 --> 00:15:13,120 Sean Aylmer: the world of owning a small business is at the 282 00:15:13,120 --> 00:15:16,040 Sean Aylmer: moment and how it's been the sectors that are most resilient, 283 00:15:16,640 --> 00:15:19,520 Sean Aylmer: the challenges that are top of mind, for SMEs as 284 00:15:19,520 --> 00:15:21,680 Sean Aylmer: we go into the next twelve months. And you know, 285 00:15:21,880 --> 00:15:24,240 Sean Aylmer: fortunately Beau leaves us with sort of some good news. 286 00:15:24,400 --> 00:15:27,400 Michael Thompson: Yeah yeah, I reckon it is Prospa's a great supporter 287 00:15:27,440 --> 00:15:30,800 Michael Thompson: of Fear and Greed, but Bo is a fantastic advocate 288 00:15:30,800 --> 00:15:33,480 Michael Thompson: for the small business community. Definitely, it was a really, 289 00:15:33,520 --> 00:15:35,520 Michael Thompson: really good conversation. It's coming up next in the Fear 290 00:15:35,520 --> 00:15:38,120 Michael Thompson: and Greed playlist on your podcast platform or at Fearangreed 291 00:15:38,120 --> 00:15:39,320 Michael Thompson: dot com dot au. 292 00:15:40,400 --> 00:15:41,760 Sean Aylmer: Thank you Sean, Thank you Michael. 293 00:15:41,960 --> 00:15:44,480 Michael Thompson: I needed a break there. It is Wednesday, the twenty 294 00:15:44,480 --> 00:15:46,640 Michael Thompson: eighth of May twenty twenty five. Make sure you're following 295 00:15:46,680 --> 00:15:49,400 Michael Thompson: the podcast and please join us online on LinkedIn, Instagram, 296 00:15:49,480 --> 00:15:51,800 Michael Thompson: ex TikTok and Facebook. Oh Michael Thompson, And that was 297 00:15:51,840 --> 00:15:53,360 Michael Thompson: Fear and Greed. Have a great day.