1
00:00:06,240 --> 00:00:09,160
Speaker 1: Welcome to Fear and Greed business news you can use today.

2
00:00:09,200 --> 00:00:12,399
Speaker 1: A drop in inflation opens the way for interest rate cuts,

3
00:00:12,600 --> 00:00:16,440
Speaker 1: Australia edges closer to calling for a separate state of Palestine,

4
00:00:16,560 --> 00:00:19,200
Speaker 1: and the federal government adds YouTube to the list of

5
00:00:19,280 --> 00:00:23,080
Speaker 1: social media sites banned for young teenagers. Plus, an Australian

6
00:00:23,120 --> 00:00:26,040
Speaker 1: EU free trade deal looks to be faltering, and the

7
00:00:26,079 --> 00:00:29,440
Speaker 1: share price of weight Loss drug group Novo Nordisk tumbles

8
00:00:29,560 --> 00:00:33,160
Speaker 1: thirty percent on disappointing sales of ozempic and we Govi.

9
00:00:33,360 --> 00:00:36,400
Speaker 1: It is Thursday, the thirty first of July twenty twenty five.

10
00:00:36,720 --> 00:00:39,680
Speaker 1: I'm Michael Thompson and good morning, Sean Aylmer. You are

11
00:00:39,760 --> 00:00:42,440
Speaker 1: breathless something for everyone this morning. There is so much

12
00:00:42,479 --> 00:00:44,200
Speaker 1: in that I'm out of breath after just the intro.

13
00:00:44,280 --> 00:00:46,320
Speaker 1: You can imagine How'm going to be in fifteen minutes time.

14
00:00:46,479 --> 00:00:49,720
Speaker 1: The main story this morning, Sean, Inflation has fallen to

15
00:00:49,800 --> 00:00:53,320
Speaker 1: its lowest level since early twenty twenty one, heaping pressure

16
00:00:53,600 --> 00:00:57,000
Speaker 1: on the Reserve Bank to cut interest rates in two

17
00:00:57,040 --> 00:01:00,760
Speaker 1: weeks time now. The long awaited figures were broadly in

18
00:01:00,800 --> 00:01:02,440
Speaker 1: line with the Central Bank's forecast.

19
00:01:02,640 --> 00:01:05,200
Speaker 2: Headline inflation came in at zero point seven percent for

20
00:01:05,240 --> 00:01:07,760
Speaker 2: the quarter, which translated to two point one percent for

21
00:01:07,840 --> 00:01:09,840
Speaker 2: the year. That's the lowest in more than four years.

22
00:01:10,240 --> 00:01:13,920
Speaker 2: The all important underlying or trim demean rate takes out

23
00:01:13,959 --> 00:01:17,040
Speaker 2: the temporary, the volatile items, that sort of thing. It

24
00:01:17,080 --> 00:01:19,720
Speaker 2: measured zero point six percent for the quarter two point

25
00:01:19,800 --> 00:01:22,319
Speaker 2: six percent for the year. Now the Reserve Bank targets

26
00:01:22,600 --> 00:01:24,920
Speaker 2: two to three percent. Two point six percent to me,

27
00:01:25,040 --> 00:01:28,280
Speaker 2: seems very close to the midpoint. On both a three

28
00:01:28,400 --> 00:01:33,240
Speaker 2: and six month annualized basis. Trim demean inflation is at

29
00:01:33,640 --> 00:01:35,800
Speaker 2: two point four percent for three months two point six

30
00:01:35,840 --> 00:01:38,440
Speaker 2: percent for six months, very much around the midpoint of

31
00:01:38,480 --> 00:01:42,240
Speaker 2: the RBA ban. Services inflation continues to be more elevated

32
00:01:42,240 --> 00:01:44,559
Speaker 2: than goods inflation. It was up three point three percent

33
00:01:44,680 --> 00:01:47,720
Speaker 2: over the year. However, the trend is your friend, Michael.

34
00:01:47,800 --> 00:01:49,920
Speaker 2: It is lower than last quarter. Last quarter's three point

35
00:01:49,960 --> 00:01:53,320
Speaker 2: seven percent. We're talking about services inflation here three point

36
00:01:53,360 --> 00:01:56,480
Speaker 2: three percent, and that's thanks to mild rents and insurance

37
00:01:56,520 --> 00:02:01,040
Speaker 2: price growth. Goods inflation is very mild. It's actually one

38
00:02:01,120 --> 00:02:03,560
Speaker 2: point one percent. Infact, goods inflation is almost too low

39
00:02:04,240 --> 00:02:08,080
Speaker 2: in terms of categories. Biggest rises concentrated in food specifically.

40
00:02:08,639 --> 00:02:10,640
Speaker 2: I know you know the answer to this, but tell us, Michael,

41
00:02:11,160 --> 00:02:15,640
Speaker 2: what was the most costly item or increase.

42
00:02:16,120 --> 00:02:22,200
Speaker 1: Sean eggs, eggs, eggs whopping nineteen point one percent across

43
00:02:22,240 --> 00:02:24,120
Speaker 1: the year. That is, if you can.

44
00:02:24,120 --> 00:02:26,360
Speaker 2: Find them, If you could find them, that's right. Lamb

45
00:02:26,360 --> 00:02:29,400
Speaker 2: and goat came in next, then tobacco and coffee and tea.

46
00:02:29,440 --> 00:02:34,600
Speaker 2: You've done quite a few stories about them. Cocoa prices rising, fuel, electricity,

47
00:02:34,840 --> 00:02:38,639
Speaker 2: transport fares, and you weren't like this one books they

48
00:02:38,680 --> 00:02:39,880
Speaker 2: actually fell in price.

49
00:02:40,000 --> 00:02:43,200
Speaker 1: That's okay, more affordable, more accessible, Sean right.

50
00:02:43,320 --> 00:02:45,959
Speaker 2: Housing accounts for twenty percent of the inflation basket. It's

51
00:02:46,000 --> 00:02:48,440
Speaker 2: been one of the major drivers of prices in Australia

52
00:02:48,480 --> 00:02:50,720
Speaker 2: over the past few years. The good news is momentum

53
00:02:50,919 --> 00:02:53,720
Speaker 2: continues to be going the other way. Rents rows just

54
00:02:53,760 --> 00:02:54,760
Speaker 2: one percent over the quarter.

55
00:02:55,639 --> 00:02:58,639
Speaker 1: You mentioned one thing there, Sean about goods inflation being

56
00:02:58,960 --> 00:03:01,480
Speaker 1: very very mild, almost kind of too low at one

57
00:03:01,480 --> 00:03:03,720
Speaker 1: point one percent. I might get into that in a

58
00:03:03,720 --> 00:03:06,120
Speaker 1: little bit more detail in Ask Fear and Greed today

59
00:03:06,520 --> 00:03:10,240
Speaker 1: about what happens when inflation is too low? Excellent, but

60
00:03:10,320 --> 00:03:13,600
Speaker 1: we'll do that later. I hear that at midday. Probably

61
00:03:13,600 --> 00:03:16,400
Speaker 1: all this is good news, though, but I feel that

62
00:03:16,480 --> 00:03:19,560
Speaker 1: at some point before you've said that inflation data will

63
00:03:19,600 --> 00:03:23,720
Speaker 1: result in lower interest rates. I feel like I'm just

64
00:03:23,760 --> 00:03:25,960
Speaker 1: trying to read the room here and just the vibe

65
00:03:26,080 --> 00:03:27,840
Speaker 1: in the studio. Is I feel like you're going to

66
00:03:27,880 --> 00:03:30,440
Speaker 1: say this is enough for the RBA to lower rates, right, Yes,

67
00:03:30,520 --> 00:03:32,839
Speaker 1: of course. But can I actually believe you because you've

68
00:03:32,840 --> 00:03:34,520
Speaker 1: said all of this before, Sean.

69
00:03:34,440 --> 00:03:37,400
Speaker 2: Yes, Michael, yes, yes, yes, yes, yes, probably.

70
00:03:37,480 --> 00:03:40,360
Speaker 1: Oh Jesus, I knew that was coming and I still

71
00:03:40,400 --> 00:03:40,920
Speaker 1: fell for it.

72
00:03:41,360 --> 00:03:45,560
Speaker 2: If yesterday's report is he make or break flower interest rates,

73
00:03:45,600 --> 00:03:48,000
Speaker 2: then I think it's the make the Reserve Bank will move.

74
00:03:48,880 --> 00:03:52,080
Speaker 2: Everyone seems to think that. Financial markets think that. The

75
00:03:52,280 --> 00:03:55,000
Speaker 2: S and P ASX two one hundred jumped after the

76
00:03:55,040 --> 00:03:58,040
Speaker 2: news yesterday. It finished just shy of a record close,

77
00:03:58,560 --> 00:04:01,200
Speaker 2: finished up more than half a percent to eighty seven

78
00:04:01,040 --> 00:04:04,520
Speaker 2: hundred and fifty six points. Interest rate sensitive stocks did best,

79
00:04:04,520 --> 00:04:07,160
Speaker 2: so I think banks, property companies, those sorts of things.

80
00:04:07,400 --> 00:04:11,120
Speaker 2: The result pushed, not the ASX result. The inflation result

81
00:04:11,160 --> 00:04:13,400
Speaker 2: pushed the Aussie dollar back under sixty five YUS sense.

82
00:04:13,440 --> 00:04:15,840
Speaker 2: In the short term, the Aussie tends to rise and

83
00:04:15,880 --> 00:04:18,320
Speaker 2: fall on the back of interest rate expectations. The three

84
00:04:18,400 --> 00:04:21,280
Speaker 2: year bond yield fell seven bases points, meaning investors think

85
00:04:21,279 --> 00:04:24,680
Speaker 2: the likelihood of a rate cut has risen. Treasure Jim

86
00:04:24,760 --> 00:04:27,040
Speaker 2: Chalmers said the data shows how well Australia's performing in

87
00:04:27,080 --> 00:04:29,960
Speaker 2: the fight against inflation. The Reserve Bank pretty much has

88
00:04:29,960 --> 00:04:30,680
Speaker 2: to cut raids.

89
00:04:31,320 --> 00:04:33,400
Speaker 1: But that's what everyone kind of thought last time it

90
00:04:33,560 --> 00:04:35,800
Speaker 1: was going to happen. So is that it'll be.

91
00:04:35,839 --> 00:04:38,800
Speaker 2: A very courageous reserve bank because it actually said just

92
00:04:38,839 --> 00:04:41,960
Speaker 2: looking for more data. Now this data, it's probably in

93
00:04:41,960 --> 00:04:44,920
Speaker 2: line with what the Reserve Bank thought. If anything, it's

94
00:04:44,960 --> 00:04:47,200
Speaker 2: a bit weaker than what the Reserve Bank thought.

95
00:04:47,360 --> 00:04:51,159
Speaker 1: Okay, So it would be an even bigger surprise that

96
00:04:51,279 --> 00:04:53,080
Speaker 1: even bigger than last time.

97
00:04:53,160 --> 00:04:54,640
Speaker 2: Not just shocked, would be very shocked.

98
00:04:54,640 --> 00:04:57,200
Speaker 1: You'd be on the floor, that's right, Okay. Moving on,

99
00:04:58,000 --> 00:05:02,080
Speaker 1: Australia has called on countries to quote express willingness to

100
00:05:02,160 --> 00:05:05,760
Speaker 1: recognize the state of Palestine as an essential step towards

101
00:05:05,839 --> 00:05:08,560
Speaker 1: the two state solution, after the UK government said it

102
00:05:08,560 --> 00:05:13,640
Speaker 1: would recognize Palestinian statehood in September unless Israel meets key conditions.

103
00:05:13,800 --> 00:05:14,040
Speaker 1: Yes so.

104
00:05:14,160 --> 00:05:17,400
Speaker 2: In a joint statement from fifteen countries released yesterday morning.

105
00:05:17,440 --> 00:05:21,840
Speaker 2: Foreign Minister Pennywong and her counterparts said they gets very wordy.

106
00:05:22,400 --> 00:05:28,400
Speaker 2: It's diplomacy at its most confusing. It says they'd already recognized,

107
00:05:28,800 --> 00:05:32,919
Speaker 2: have expressed or express the willingness or the positive consideration

108
00:05:33,120 --> 00:05:36,400
Speaker 2: of our countries to recognize the state of Palestine as

109
00:05:36,400 --> 00:05:40,640
Speaker 2: an essential step towards the two state solution. He went

110
00:05:40,720 --> 00:05:44,960
Speaker 2: on to invite other countries to join the core. I mean,

111
00:05:45,440 --> 00:05:48,599
Speaker 2: basically Australia is saying and these countries saying it once

112
00:05:48,880 --> 00:05:51,000
Speaker 2: is just stopping short of saying there needs to be

113
00:05:51,040 --> 00:05:54,400
Speaker 2: an independent state of Palestine. But it's getting mighty mighty

114
00:05:54,520 --> 00:05:57,120
Speaker 2: close to that. The statement also demands an immediate seas

115
00:05:57,200 --> 00:05:59,600
Speaker 2: via the immediate and unconditional or release of all hostages

116
00:05:59,640 --> 00:06:03,640
Speaker 2: of m including the remains, as well as ensuring unhindered

117
00:06:03,720 --> 00:06:10,200
Speaker 2: humanitarian access. So where this is evolving two we already

118
00:06:10,240 --> 00:06:13,000
Speaker 2: have France calling for an independent state of Palestine. The

119
00:06:13,000 --> 00:06:15,760
Speaker 2: big issue for countries like the UK and Australia is

120
00:06:15,760 --> 00:06:18,200
Speaker 2: the role of mass because no one wants a mass

121
00:06:18,680 --> 00:06:23,240
Speaker 2: running Palestine, and that is why we're stopping short of it.

122
00:06:23,279 --> 00:06:24,680
Speaker 2: At the moment, it seems.

123
00:06:24,520 --> 00:06:29,880
Speaker 1: Okay, I mentioned before the development in the social media ban,

124
00:06:30,040 --> 00:06:33,279
Speaker 1: teenagers between the ages of thirteen and sixteen will be

125
00:06:33,320 --> 00:06:36,960
Speaker 1: banned from creating YouTube accounts in what is a pretty

126
00:06:37,000 --> 00:06:40,239
Speaker 1: significant policy backflip by the Albanese government as a prepares

127
00:06:40,320 --> 00:06:44,840
Speaker 1: to implement a world first higher minimum age to access

128
00:06:45,279 --> 00:06:46,720
Speaker 1: these social media platforms.

129
00:06:46,839 --> 00:06:49,560
Speaker 2: There was Avers who came after advice from e Safety

130
00:06:49,560 --> 00:06:53,440
Speaker 2: Commissioner Julie Inman Grant, who found YouTube was the most

131
00:06:53,640 --> 00:06:57,080
Speaker 2: widely used platform for young teens and the most likely

132
00:06:57,839 --> 00:07:01,520
Speaker 2: likely place for them to encounter harm material, according to

133
00:07:01,560 --> 00:07:03,880
Speaker 2: report in the finn Review. The law, which is being

134
00:07:03,880 --> 00:07:06,520
Speaker 2: watched closely by other countries, comes into effect on December

135
00:07:06,560 --> 00:07:10,600
Speaker 2: tenth and increases the minimum age to use platforms including TikTok,

136
00:07:10,680 --> 00:07:15,120
Speaker 2: Instagram and Facebook, Snapchat and X to sixteen. You've got

137
00:07:15,120 --> 00:07:17,560
Speaker 2: to be sixteen to use that. I impose penalties of

138
00:07:17,640 --> 00:07:19,840
Speaker 2: up to fifty million dollars on platforms if they don't

139
00:07:19,960 --> 00:07:22,880
Speaker 2: enforce the new limit. Now enforcing it will be very difficult.

140
00:07:23,120 --> 00:07:27,120
Speaker 2: What YouTube owner Alphabet has done in the US the

141
00:07:27,240 --> 00:07:30,239
Speaker 2: beginning to use artificial intelligence to determine where the viewers

142
00:07:30,280 --> 00:07:33,120
Speaker 2: in that country are under the age of eighteen. This

143
00:07:33,160 --> 00:07:37,760
Speaker 2: is according to report on Bloomberg. So Alphabet slash YouTube

144
00:07:37,800 --> 00:07:40,040
Speaker 2: knows it needs to take action on that and it

145
00:07:40,120 --> 00:07:41,920
Speaker 2: is trying to use AI to do So.

146
00:07:42,120 --> 00:07:45,560
Speaker 1: Okay, we're going to take a quick break. Before we do,

147
00:07:45,880 --> 00:07:48,680
Speaker 1: I just want to mention today's interview that we have

148
00:07:48,920 --> 00:07:50,800
Speaker 1: coming up after the show. And normally I wouldn't mention

149
00:07:50,840 --> 00:07:52,000
Speaker 1: this to the end of the show, but this is

150
00:07:52,000 --> 00:07:54,640
Speaker 1: a bit different today, something a little bit a little

151
00:07:54,640 --> 00:07:57,760
Speaker 1: bit different because you are speaking today with Scott Farqua,

152
00:07:57,960 --> 00:08:02,040
Speaker 1: who is the co founder of it Lassian. He's also

153
00:08:02,160 --> 00:08:04,560
Speaker 1: the chair of the Tech Council of Australia. And it's

154
00:08:04,560 --> 00:08:07,880
Speaker 1: a slightly longer conversation but it is worth every second.

155
00:08:08,160 --> 00:08:11,120
Speaker 2: You've forgot to mention the fourth or.

156
00:08:11,040 --> 00:08:14,480
Speaker 1: Fifth riches Australian. Yes, that's true. It would be by

157
00:08:14,560 --> 00:08:18,280
Speaker 1: far the wealthiest person to have appeared on Fearing Not flashy, No,

158
00:08:18,480 --> 00:08:21,520
Speaker 1: not flashy and just so down to earth. Yeah.

159
00:08:21,520 --> 00:08:23,800
Speaker 2: Look, he was at the National Press Club in Camber yesterday.

160
00:08:25,320 --> 00:08:27,560
Speaker 2: In terms of the Tech Council, he was kind of

161
00:08:27,560 --> 00:08:30,560
Speaker 2: talking about things like using AI for housing, like how

162
00:08:30,600 --> 00:08:34,679
Speaker 2: to improve improve the housing issue in Australia. AI can

163
00:08:34,720 --> 00:08:41,840
Speaker 2: help what the opportunity is for Australia as the AI

164
00:08:42,000 --> 00:08:45,920
Speaker 2: revolution comes, and it's not just artificial intelligence. It's about

165
00:08:46,000 --> 00:08:49,640
Speaker 2: data centers, it's about setting ourselves up to be at

166
00:08:49,679 --> 00:08:53,800
Speaker 2: the forefront in this region of the world. Of that,

167
00:08:54,520 --> 00:08:58,080
Speaker 2: it's almost the technological infrastructure as much as it is

168
00:08:58,200 --> 00:09:01,240
Speaker 2: the technology and what the guver needs to do and

169
00:09:01,320 --> 00:09:03,760
Speaker 2: as a result, what the gunment needs to do to

170
00:09:03,800 --> 00:09:04,640
Speaker 2: make that happen.

171
00:09:05,160 --> 00:09:08,640
Speaker 1: There's a great interview with a big thinker in this space,

172
00:09:08,720 --> 00:09:11,839
Speaker 1: and someone of whom clearly knows what needs to happen,

173
00:09:11,880 --> 00:09:14,360
Speaker 1: because he's done all of this before in his own

174
00:09:14,400 --> 00:09:16,120
Speaker 1: business and has made a fortune out of it, so

175
00:09:16,160 --> 00:09:18,400
Speaker 1: it's worth listening to him. It's coming up after the show.

176
00:09:18,400 --> 00:09:19,800
Speaker 1: We'll take a quick break back in a moment with

177
00:09:19,840 --> 00:09:28,080
Speaker 1: the rest of the day's business news. Shawn. The deadline

178
00:09:28,120 --> 00:09:31,320
Speaker 1: for the setting of US tariff's fast approaching. In fact,

179
00:09:31,400 --> 00:09:36,000
Speaker 1: it's tomorrow, the first of August, and Australia isn't close

180
00:09:36,040 --> 00:09:37,360
Speaker 1: to her, isn't close to it.

181
00:09:37,400 --> 00:09:39,439
Speaker 2: And here's something's going on that none of us know about.

182
00:09:39,440 --> 00:09:44,440
Speaker 1: It's possible to say it's unlikely. Talks though on a

183
00:09:44,480 --> 00:09:47,120
Speaker 1: trade deal with the EU, also look to be faltering.

184
00:09:47,160 --> 00:09:47,880
Speaker 1: At the same time.

185
00:09:48,000 --> 00:09:50,200
Speaker 2: Yes, so, US President Donald Trump in recent days has

186
00:09:50,200 --> 00:09:52,839
Speaker 2: said anyone without a deal by August one will get

187
00:09:52,880 --> 00:09:55,040
Speaker 2: captured by a broad fifteen to twenty percent tariff. And

188
00:09:55,120 --> 00:09:57,520
Speaker 2: originally we were slated for ten percent tariff. He said

189
00:09:57,520 --> 00:09:59,040
Speaker 2: this about a week ago, he said it again a

190
00:09:59,040 --> 00:10:03,520
Speaker 2: couple of days ago. Looks like that's where we're heading. Clearly,

191
00:10:03,559 --> 00:10:07,120
Speaker 2: we haven't had significant negotiations with the US. The opposition

192
00:10:07,120 --> 00:10:09,520
Speaker 2: has claimed anything. Albernizi has run up the white flag

193
00:10:09,559 --> 00:10:12,040
Speaker 2: on tariffs. We sell about twenty four billion dollars of

194
00:10:12,080 --> 00:10:15,440
Speaker 2: goods to Australia. No on that EU European Union trade

195
00:10:15,480 --> 00:10:18,400
Speaker 2: dealer you mentioned, media is reporting that we've been pushed

196
00:10:18,559 --> 00:10:22,199
Speaker 2: down the rankings of importance. So this week the EU

197
00:10:22,240 --> 00:10:24,760
Speaker 2: announced a fifteen percent tariff deal with the US. It's

198
00:10:24,800 --> 00:10:26,760
Speaker 2: attempting to finalize a deal with a block of South

199
00:10:26,800 --> 00:10:31,120
Speaker 2: American nations like Argentina and Brazil, Paraguay, Uruguay. They are

200
00:10:31,120 --> 00:10:32,920
Speaker 2: coming in in front of US now, given there are

201
00:10:32,920 --> 00:10:35,240
Speaker 2: a lot more people and probably a lot more value

202
00:10:35,240 --> 00:10:37,680
Speaker 2: to the EU than we are, it's not really surprising.

203
00:10:37,960 --> 00:10:42,160
Speaker 1: Still offensive, and while we're talking the US, though, Sean

204
00:10:42,200 --> 00:10:44,959
Speaker 1: the Orcus review will be finalized in the second half

205
00:10:45,000 --> 00:10:48,280
Speaker 1: of this year and will involve consultation with Australia and

206
00:10:48,320 --> 00:10:48,720
Speaker 1: the UK.

207
00:10:49,000 --> 00:10:51,240
Speaker 2: A statement the Pentagon said the review's purpose is to

208
00:10:51,280 --> 00:10:53,720
Speaker 2: revivee the President and he's senior leadership team with a

209
00:10:53,720 --> 00:10:57,240
Speaker 2: fact based, rigorous assessment of the initiative. The review would

210
00:10:57,240 --> 00:11:00,400
Speaker 2: be a department wide process and an empirical clear right

211
00:11:00,440 --> 00:11:04,720
Speaker 2: assessment of the initiatives, alignment with President Trump's America First approach.

212
00:11:05,520 --> 00:11:09,680
Speaker 1: With the government's economic reform round Table fast approaching, major

213
00:11:09,679 --> 00:11:13,720
Speaker 1: employers are providing submissions, with Westpac focusing on building more

214
00:11:13,720 --> 00:11:19,040
Speaker 1: homes and accelerating Australia's energy transition, while SGH boss Ryan

215
00:11:19,120 --> 00:11:23,080
Speaker 1: Stokes says labor productivity is being exacerbated by the government's

216
00:11:23,080 --> 00:11:27,280
Speaker 1: restrictions on contractors and worker abuse of compensation claims for

217
00:11:27,360 --> 00:11:28,840
Speaker 1: mental health. Yes.

218
00:11:28,920 --> 00:11:31,240
Speaker 2: So the gathering will be held in the nineteenth twenty

219
00:11:31,320 --> 00:11:33,760
Speaker 2: first of August and this next month, led by Treasurer

220
00:11:33,920 --> 00:11:36,920
Speaker 2: Jim Chalmers. The goals to make the economy more productive,

221
00:11:36,920 --> 00:11:40,040
Speaker 2: build resilient strength of the budget. Westpac submission heavy on

222
00:11:40,120 --> 00:11:42,600
Speaker 2: harnessing AI to streamline and speed up the building of

223
00:11:42,640 --> 00:11:45,840
Speaker 2: new homes, also calls for state governments to get autonomy

224
00:11:45,880 --> 00:11:48,840
Speaker 2: over approvals and calls for the nomination of ten cities

225
00:11:48,840 --> 00:11:53,640
Speaker 2: in Region Australia to drive investment and growth. Stakes, says

226
00:11:53,720 --> 00:11:57,560
Speaker 2: Ryan Stokes's submission, more controversial. SGH used to be seven

227
00:11:57,600 --> 00:12:00,760
Speaker 2: group holdings in seven group holding Exactually I think it's

228
00:12:00,800 --> 00:12:03,000
Speaker 2: got about five or six assets in its seven group

229
00:12:03,040 --> 00:12:05,240
Speaker 2: is now the smallest of them, things like West Track,

230
00:12:05,320 --> 00:12:08,679
Speaker 2: Borrel Coats, They're all much bigger plus seventeen thousand people.

231
00:12:08,720 --> 00:12:11,040
Speaker 2: Speaking of the thin review Stakes raised concerns about the

232
00:12:11,040 --> 00:12:13,920
Speaker 2: sharp rise in mental health claims by private and public

233
00:12:14,000 --> 00:12:18,440
Speaker 2: sector workers for alleged workplace psychological injuries. He wants national

234
00:12:18,520 --> 00:12:21,320
Speaker 2: legislation stand and get no compensation, be payable to work

235
00:12:21,440 --> 00:12:25,119
Speaker 2: if a significant cause of the psychological injury is reasonable

236
00:12:25,280 --> 00:12:27,240
Speaker 2: management action okay.

237
00:12:27,320 --> 00:12:31,080
Speaker 1: Now, strict new gambling rules and fewer tourists at Star

238
00:12:31,240 --> 00:12:34,640
Speaker 1: Entertainments facility in Sydney have sent the gaming group's revenues

239
00:12:34,679 --> 00:12:37,920
Speaker 1: falling by almost a third in just three months. That's

240
00:12:37,960 --> 00:12:39,160
Speaker 1: more bad news for the group.

241
00:12:39,400 --> 00:12:42,680
Speaker 2: Yeap. Once again it seems to be pushing an uphill.

242
00:12:42,720 --> 00:12:44,839
Speaker 2: The company is also unlikely to am I allowed to

243
00:12:44,840 --> 00:12:45,920
Speaker 2: say pushing it up hill.

244
00:12:45,840 --> 00:12:48,840
Speaker 1: As long as you say, pushing it uphill and leave

245
00:12:48,840 --> 00:12:49,920
Speaker 1: a very clear.

246
00:12:50,320 --> 00:12:53,880
Speaker 2: Distinct Apologies to anyone listening that was offended. Basically, the

247
00:12:53,880 --> 00:12:56,319
Speaker 2: Stars also unlikely to reach a final deal with its

248
00:12:56,320 --> 00:12:58,360
Speaker 2: Hong Kong based business partners for the sale of its

249
00:12:58,440 --> 00:13:01,640
Speaker 2: Queen's Wharf state for the deadline at the end of

250
00:13:01,679 --> 00:13:04,520
Speaker 2: this week. That could potentially cost the group world ten

251
00:13:04,559 --> 00:13:06,600
Speaker 2: million upfront, and then there's another twenty six point five

252
00:13:06,640 --> 00:13:09,920
Speaker 2: million that it may have to pay. All sorts of

253
00:13:09,920 --> 00:13:11,640
Speaker 2: problems for Star Still.

254
00:13:12,280 --> 00:13:14,960
Speaker 1: Sean, I know what everyone's actually hanging out for. An

255
00:13:15,040 --> 00:13:19,440
Speaker 1: update on the Australian made rocket, the Gilmore Space Technology rocket.

256
00:13:19,480 --> 00:13:22,240
Speaker 1: It was supposed to take off yesterday that the previous

257
00:13:22,320 --> 00:13:26,520
Speaker 1: day had been delayed by those high winds up really high.

258
00:13:26,600 --> 00:13:31,640
Speaker 1: It did take off yesterday briefly, and then it crashed

259
00:13:31,920 --> 00:13:35,400
Speaker 1: and exploded. It was not up for very long. It

260
00:13:35,440 --> 00:13:38,240
Speaker 1: had twenty three seconds of engine burn time. It had

261
00:13:38,280 --> 00:13:42,760
Speaker 1: fourteen seconds of flight. But still Gilmore Space Technology said

262
00:13:42,800 --> 00:13:45,240
Speaker 1: that they were pretty happy with that because at least

263
00:13:45,200 --> 00:13:47,439
Speaker 1: it got off the launch pad. It had been sitting

264
00:13:47,440 --> 00:13:50,480
Speaker 1: on the launch pad for eighteen months, right waiting, I

265
00:13:50,480 --> 00:13:53,480
Speaker 1: don't want to be cynic, right, Okay, you're going to

266
00:13:53,520 --> 00:13:54,880
Speaker 1: say that this is not a success.

267
00:13:55,240 --> 00:13:57,360
Speaker 2: No, no, no, no, I get that. You know ASEX

268
00:13:57,400 --> 00:14:01,760
Speaker 2: always talks about this. It's a success if they're happy

269
00:14:02,400 --> 00:14:04,360
Speaker 2: with fourteen seconds off the launch pad.

270
00:14:04,400 --> 00:14:04,959
Speaker 1: It's that what you said.

271
00:14:05,040 --> 00:14:07,600
Speaker 2: Yeah, yeah, Would that have actually pushed it to the

272
00:14:07,640 --> 00:14:11,080
Speaker 2: four to five kilometers high where the winds were stopping

273
00:14:11,080 --> 00:14:12,200
Speaker 2: it from the previous.

274
00:14:11,920 --> 00:14:14,600
Speaker 1: Day, Probably not. No, it didn't look like it got

275
00:14:14,880 --> 00:14:18,960
Speaker 1: much above the launch pad itself. Yeah, so yes, yeah,

276
00:14:19,000 --> 00:14:21,800
Speaker 1: but it's nice that they were thinking big. They were

277
00:14:21,840 --> 00:14:24,720
Speaker 1: aiming high for that four to five Okay, look, you

278
00:14:24,760 --> 00:14:27,600
Speaker 1: are a cynic and we are going to move on Passley. Sorry,

279
00:14:27,680 --> 00:14:30,080
Speaker 1: very very quickly. But it's just nice to update. It

280
00:14:30,120 --> 00:14:33,480
Speaker 1: turn into international news now and President Donald Trump said

281
00:14:33,520 --> 00:14:36,760
Speaker 1: he fell out with Jeffrey Epstein because the convicted sex

282
00:14:36,800 --> 00:14:42,200
Speaker 1: offender had poached staff from his club's spa, including Virginia Jiuffrey,

283
00:14:42,560 --> 00:14:44,240
Speaker 1: who was the woman at the center of an underage

284
00:14:44,240 --> 00:14:45,920
Speaker 1: sex scandal involving Prince Andrew.

285
00:14:46,120 --> 00:14:48,640
Speaker 2: The White House has said previously that Trump threw Epstcene

286
00:14:48,640 --> 00:14:52,480
Speaker 2: out of Marilago Club two decades ago for quota being

287
00:14:52,520 --> 00:14:55,760
Speaker 2: a creep. US media has reported that they became estranged

288
00:14:55,800 --> 00:14:58,160
Speaker 2: over a Florida real estate deal. Now, speaking to reporters

289
00:14:58,200 --> 00:15:00,280
Speaker 2: on Air Force One while flying home from scott Land,

290
00:15:00,280 --> 00:15:03,960
Speaker 2: Trump was more expansive, saying, I quote, people were taken

291
00:15:04,040 --> 00:15:06,680
Speaker 2: out of the spa. He's talking about mary Lago Spa,

292
00:15:06,880 --> 00:15:09,760
Speaker 2: hired by him. In other words, gone. When I heard

293
00:15:09,760 --> 00:15:11,800
Speaker 2: about it, I told him, I said, listen, we don't

294
00:15:11,800 --> 00:15:15,000
Speaker 2: want you taking our people. And then not too long

295
00:15:15,080 --> 00:15:17,240
Speaker 2: after that, he did it again and I said, out

296
00:15:17,240 --> 00:15:17,520
Speaker 2: of here.

297
00:15:17,640 --> 00:15:17,920
Speaker 1: That's all.

298
00:15:17,960 --> 00:15:21,520
Speaker 2: According to AFP, Trump also confirmed that one of the

299
00:15:21,560 --> 00:15:26,440
Speaker 2: mary Lago SPA attendants taken by Epstein was Giuffrey, who

300
00:15:26,680 --> 00:15:31,320
Speaker 2: brought a civil case against Epstein's friend Prince Andrew, accusing

301
00:15:31,400 --> 00:15:33,440
Speaker 2: him of sexually assaulting her when she was seventeen.

302
00:15:33,840 --> 00:15:35,360
Speaker 1: Now, finally I mentioned this one at the top of

303
00:15:35,400 --> 00:15:38,240
Speaker 1: the show. The share price of Novo Nordisk, the company

304
00:15:38,280 --> 00:15:42,600
Speaker 1: behind revolutionary diabetes and weight loss drugs WHAT, crashed thirty

305
00:15:42,680 --> 00:15:47,040
Speaker 1: percent yesterday after announcing weaker than expected sales and profits

306
00:15:47,040 --> 00:15:51,080
Speaker 1: for the June half and a relatively poor outlook. God

307
00:15:51,120 --> 00:15:52,480
Speaker 1: investors did not want to hear that.

308
00:15:53,120 --> 00:15:58,440
Speaker 2: No, I mean, I reckon This company is one of

309
00:15:58,880 --> 00:16:02,560
Speaker 2: the probably the hottest stock in the world over the

310
00:16:02,640 --> 00:16:05,960
Speaker 2: last couple of years major stock, and what it was

311
00:16:06,000 --> 00:16:09,880
Speaker 2: anyway was yeah, yeah. Investors basically poured into it on

312
00:16:09,880 --> 00:16:12,080
Speaker 2: the belief that has Enpick and we Go, the would

313
00:16:12,080 --> 00:16:17,600
Speaker 2: spark a health revolusion, but future sales won't be what

314
00:16:17,880 --> 00:16:20,680
Speaker 2: Nova had hoped for. Quickly lost about one hundred and

315
00:16:20,680 --> 00:16:24,360
Speaker 2: forty three billion dollars of its market value before settling

316
00:16:24,440 --> 00:16:26,880
Speaker 2: twenty three percent lower. That's a lot of money. The

317
00:16:27,000 --> 00:16:29,600
Speaker 2: challenge for Nava Law is a disc a lot more

318
00:16:29,600 --> 00:16:32,280
Speaker 2: competition from Eli Lelly, which also has weight loss drugs.

319
00:16:32,480 --> 00:16:36,480
Speaker 2: There's also a bunch of smaller companies bio texts basically

320
00:16:36,520 --> 00:16:40,920
Speaker 2: delivering copycat drugs. Narva's finding it really hard to stop.

321
00:16:41,240 --> 00:16:43,880
Speaker 2: So the idea that it's got this monopoly or duopoly

322
00:16:43,920 --> 00:16:47,280
Speaker 2: once Eli Lelly gets in seems to be frittering away.

323
00:16:47,200 --> 00:16:50,560
Speaker 1: Ye. Bad for shareholders, but not too bad for consumers though, right.

324
00:16:50,360 --> 00:16:52,480
Speaker 2: Well no, Michael, but you know we're a business friendly

325
00:16:52,960 --> 00:16:55,240
Speaker 2: podcast and no consume. Look at your face, You're like,

326
00:16:55,280 --> 00:16:56,160
Speaker 2: I'm consumer friendly.

327
00:16:56,640 --> 00:16:59,360
Speaker 1: I'm so. There's many times I'm here for the people.

328
00:16:59,400 --> 00:17:03,000
Speaker 1: Shot up next Fear and Greed Daily interview with Alassian's

329
00:17:03,280 --> 00:17:06,199
Speaker 1: co founder Scott Farqua, I must listen. If you're going

330
00:17:06,240 --> 00:17:07,520
Speaker 1: to listen to any have a listened to this one.

331
00:17:07,600 --> 00:17:08,880
Speaker 1: It's coming up next to the Fear and Gred play

332
00:17:08,920 --> 00:17:11,400
Speaker 1: list on your podcast platform or at Fearangreed dot com.

333
00:17:11,400 --> 00:17:13,800
Speaker 1: Today you thank you, Sean, Thank you, Michael. Thursday, the

334
00:17:13,800 --> 00:17:16,440
Speaker 1: thirty first of July twenty twenty five. Make sure you're

335
00:17:16,480 --> 00:17:19,280
Speaker 1: following the podcast and join us online on LinkedIn, Instagram,

336
00:17:19,400 --> 00:17:21,600
Speaker 1: x TikTok, and Facebook. I'm Chale Thompson and that was

337
00:17:21,640 --> 00:17:23,240
Speaker 1: Fear and Greed. Have a great day.