1
00:00:00,200 --> 00:00:04,000
Speaker 1: Happy Friday and welcome to the Daily OS. I'm Zara Sideler,

2
00:00:04,160 --> 00:00:06,840
Speaker 1: joined today by Billy fitz Simons as we take you

3
00:00:06,880 --> 00:00:09,720
Speaker 1: through the day's news to wrap the week. So, Billy,

4
00:00:09,960 --> 00:00:11,119
Speaker 1: what is making news today?

5
00:00:11,720 --> 00:00:14,400
Speaker 2: The Federal Government has announced it will send seventy three

6
00:00:14,480 --> 00:00:18,480
Speaker 2: Australian Federal Police and forty three Australian Defense Force personnel

7
00:00:18,560 --> 00:00:21,360
Speaker 2: to the Solomon Islands after a request from its government.

8
00:00:21,640 --> 00:00:25,200
Speaker 2: The South Pacific Island is currently experiencing violent protests from

9
00:00:25,200 --> 00:00:27,680
Speaker 2: demonstrators who want the Prime Minister to resign.

10
00:00:28,320 --> 00:00:30,880
Speaker 1: It was a busy day in Parliament yesterday. We had

11
00:00:30,880 --> 00:00:34,120
Speaker 1: the Prime Minister introducing the Religious Discrimination Bill and we

12
00:00:34,159 --> 00:00:36,720
Speaker 1: also had a member of the Liberal Party cross the floor,

13
00:00:37,000 --> 00:00:39,280
Speaker 1: so that was Bridget Archer and she crossed the floor

14
00:00:39,320 --> 00:00:42,720
Speaker 1: on a matter relating to a federal Anti corruption Commission.

15
00:00:43,360 --> 00:00:45,400
Speaker 1: In the end, the House did block a motion to

16
00:00:45,560 --> 00:00:48,839
Speaker 1: debate a federal Anti corruption Commission, but in that debate

17
00:00:48,920 --> 00:00:51,560
Speaker 1: Prime Minister Scott Morrison said that former New South Wales

18
00:00:51,640 --> 00:00:55,680
Speaker 1: Premier Gladysbury Jicklian had been done over by the Independent

19
00:00:55,680 --> 00:00:57,200
Speaker 1: Commission against Corruption.

20
00:00:58,000 --> 00:00:59,920
Speaker 2: And some better news for our listeners in the North

21
00:01:00,080 --> 00:01:03,200
Speaker 2: and Territory it only recorded one new case of COVID

22
00:01:03,280 --> 00:01:07,480
Speaker 2: nineteen yesterday, bringing the current outbreak to fifty two infections.

23
00:01:08,000 --> 00:01:11,160
Speaker 2: Chief Minister Michael Gunner said quote this shows us the

24
00:01:11,240 --> 00:01:14,720
Speaker 2: hard lockdown is working and that caring for close contacts

25
00:01:14,720 --> 00:01:16,240
Speaker 2: in quarantine is working too.

26
00:01:16,720 --> 00:01:18,520
Speaker 1: The good news for today if you are in New

27
00:01:18,520 --> 00:01:21,399
Speaker 1: South Wales, the New South Wales government has announced a

28
00:01:21,520 --> 00:01:25,039
Speaker 1: further easing of restrictions after the state reaches the ninety

29
00:01:25,080 --> 00:01:28,640
Speaker 1: five percent double dose vaccination rate or the fifteenth of December,

30
00:01:28,680 --> 00:01:32,559
Speaker 1: whichever comes first. Masks will only be required in some

31
00:01:32,600 --> 00:01:36,360
Speaker 1: settings such as public transport, There'll be no density limits

32
00:01:36,400 --> 00:01:38,840
Speaker 1: and QR check ins will only be required at high

33
00:01:38,920 --> 00:01:43,080
Speaker 1: risk settings such as gym's. Finally, proof of vaccination will

34
00:01:43,120 --> 00:01:45,920
Speaker 1: no longer be required for most activities, so that is

35
00:01:46,000 --> 00:01:47,720
Speaker 1: a very big change of pace.

36
00:01:52,800 --> 00:01:54,800
Speaker 3: Is the best time of the fortnite guys. We are

37
00:01:54,920 --> 00:01:57,840
Speaker 3: joined by Sophie and Maddy from Your in Good Company,

38
00:01:58,480 --> 00:02:02,200
Speaker 3: one of the best financed podcasts in the entire universe.

39
00:02:02,600 --> 00:02:07,080
Speaker 3: They help us understand the finance stories hitting the headlines

40
00:02:07,600 --> 00:02:10,160
Speaker 3: and break down some of the key terms behind the stories.

41
00:02:11,040 --> 00:02:14,280
Speaker 3: So and Mad's what's been hitting headlines in finance in

42
00:02:14,320 --> 00:02:15,280
Speaker 3: the last two weeks.

43
00:02:15,360 --> 00:02:18,160
Speaker 4: Well, today is officially Black Friday, and I don't know

44
00:02:18,160 --> 00:02:20,080
Speaker 4: about you, Sam, but I'm out to do my Christmas

45
00:02:20,080 --> 00:02:22,160
Speaker 4: shopping in the Black Friday sales this year and it

46
00:02:22,200 --> 00:02:24,400
Speaker 4: has come out of absolutely nowhere and I am not

47
00:02:24,639 --> 00:02:28,240
Speaker 4: ready at all, but Australian retailers are set to earn

48
00:02:28,440 --> 00:02:31,280
Speaker 4: billions of dollars in sales through the four day shopping

49
00:02:31,280 --> 00:02:34,200
Speaker 4: frenzy that begins today with Black Friday and ends on

50
00:02:34,280 --> 00:02:38,720
Speaker 4: Cyber Monday, as pandemic savings collide with the popular sales

51
00:02:38,760 --> 00:02:41,640
Speaker 4: tradition that we have imported from the US. Of Boston

52
00:02:41,639 --> 00:02:45,520
Speaker 4: consultant Group study actually has suggested that eighty two percent

53
00:02:45,600 --> 00:02:48,840
Speaker 4: of Australians plan to spend at this year's Black Friday sales,

54
00:02:49,000 --> 00:02:51,359
Speaker 4: well up from forty three percent last year.

55
00:02:51,720 --> 00:02:55,600
Speaker 3: That is four in five Australians doing shopping today online.

56
00:02:55,680 --> 00:02:58,720
Speaker 3: Pretty remarkable. Are we expecting it to be a bigger

57
00:02:58,960 --> 00:03:00,959
Speaker 3: year than last year or the year before?

58
00:03:01,280 --> 00:03:03,919
Speaker 5: Yeah, we're definitely expecting it to be a bigger year

59
00:03:03,919 --> 00:03:05,800
Speaker 5: than last year. As Madz just said, it's up to

60
00:03:05,840 --> 00:03:08,200
Speaker 5: eighty two percent of Australians and I think what we're

61
00:03:08,200 --> 00:03:10,280
Speaker 5: seeing at the moment is that companies are starting these

62
00:03:10,280 --> 00:03:13,000
Speaker 5: sales really early. I'm not sure if your feeds have

63
00:03:13,040 --> 00:03:15,760
Speaker 5: been full of advertisements, but we've got the likes of

64
00:03:15,840 --> 00:03:20,400
Speaker 5: Jbhi Fi, kmart Meyer and online retailers like Cogan starting

65
00:03:20,400 --> 00:03:24,160
Speaker 5: the discounts early, and the CEO of BWX, Dave Fenlan,

66
00:03:24,280 --> 00:03:26,960
Speaker 5: came out saying that this year they expected a strong

67
00:03:27,040 --> 00:03:30,360
Speaker 5: uptick in volume, both through direct to consumer channels and

68
00:03:30,400 --> 00:03:31,600
Speaker 5: across retail stores.

69
00:03:31,919 --> 00:03:33,799
Speaker 3: And so the other thing that we've talked about on

70
00:03:33,840 --> 00:03:37,360
Speaker 3: this podcast that kind of ties into the Black Friday

71
00:03:37,680 --> 00:03:42,320
Speaker 3: mayhem is continuing issues with the global supply chain. We

72
00:03:42,440 --> 00:03:45,240
Speaker 3: heard an announcement yesterday that Australia posts are going to

73
00:03:45,240 --> 00:03:49,440
Speaker 3: be putting on these extra hours to facilitate the crazy

74
00:03:49,440 --> 00:03:51,880
Speaker 3: amounts of traffic that is going to come from the

75
00:03:51,920 --> 00:03:55,720
Speaker 3: sales today and on Monday. Have any retailers said anything

76
00:03:55,760 --> 00:03:59,760
Speaker 3: about global supply issues and how that could affect these

77
00:03:59,760 --> 00:04:00,600
Speaker 3: sales periods.

78
00:04:01,080 --> 00:04:02,600
Speaker 5: I think a lot of companies have come out with

79
00:04:02,680 --> 00:04:05,040
Speaker 5: disclaimers this year, just saying that there'll be a bit

80
00:04:05,080 --> 00:04:08,040
Speaker 5: of a weight period on all postage. But I think

81
00:04:08,120 --> 00:04:10,400
Speaker 5: if you're doing a Christmas shopping now, then maybe it'll

82
00:04:10,440 --> 00:04:11,840
Speaker 5: be in your hands before December.

83
00:04:12,160 --> 00:04:16,159
Speaker 3: I've actually heard the dates December thirteenth thrown around a

84
00:04:16,200 --> 00:04:18,679
Speaker 3: lot as like this d day, for if you haven't

85
00:04:18,680 --> 00:04:20,920
Speaker 3: audered it by then, then you're not going to get

86
00:04:20,960 --> 00:04:23,320
Speaker 3: it before Christmas, which is pretty funny. I was speaking

87
00:04:23,360 --> 00:04:26,680
Speaker 3: to somebody yesterday who, interestingly guys, said that there is

88
00:04:26,760 --> 00:04:32,440
Speaker 3: a global supply shortage in wooden palettes and the shipping

89
00:04:32,480 --> 00:04:36,320
Speaker 3: processes are only made easy by the fact that the

90
00:04:36,360 --> 00:04:38,520
Speaker 3: goods are on wooden palettes. And I thought that was

91
00:04:38,560 --> 00:04:41,239
Speaker 3: just so fascinating. It's so much of a shortage in fact,

92
00:04:41,279 --> 00:04:45,839
Speaker 3: that the construction sector is now having a wood shortage

93
00:04:45,920 --> 00:04:48,599
Speaker 3: because the extra wood is being used to build more paletts.

94
00:04:48,640 --> 00:04:52,480
Speaker 3: So it's a really interesting time for fast moving consumer

95
00:04:52,520 --> 00:04:56,039
Speaker 3: goods and online retail. You know, after the two years

96
00:04:56,040 --> 00:04:59,120
Speaker 3: that online retailers have had, they have to think of

97
00:04:59,200 --> 00:05:00,679
Speaker 3: new ways to keep with demand.

98
00:05:01,000 --> 00:05:01,160
Speaker 5: Yeah.

99
00:05:01,200 --> 00:05:03,480
Speaker 4: I think when you see news like that, it's always

100
00:05:03,480 --> 00:05:06,520
Speaker 4: interesting to think how shortages like that might impact the

101
00:05:06,560 --> 00:05:08,440
Speaker 4: share market and how you know there could be an

102
00:05:08,440 --> 00:05:11,680
Speaker 4: opportunity for investors there as well. So if and I

103
00:05:11,680 --> 00:05:14,320
Speaker 4: have talked before about how you could have invested in

104
00:05:14,360 --> 00:05:16,960
Speaker 4: a cardboard box company and you could have made a

105
00:05:16,960 --> 00:05:19,560
Speaker 4: lot of money because there's been a really big increase

106
00:05:19,720 --> 00:05:23,400
Speaker 4: in the demand for cardboard boxes with all this online

107
00:05:23,440 --> 00:05:26,359
Speaker 4: shopping going on. But you know, every holiday season you

108
00:05:26,440 --> 00:05:28,960
Speaker 4: have analysts make predictions about the level of sales in

109
00:05:29,000 --> 00:05:31,760
Speaker 4: this kind of period around Black Friday and Cyber Monday,

110
00:05:31,839 --> 00:05:34,640
Speaker 4: and it can provide a really good guide to investors

111
00:05:34,680 --> 00:05:38,040
Speaker 4: about the outlook for retail companies as well as broader

112
00:05:38,080 --> 00:05:40,920
Speaker 4: market spending. So it'll be interesting over the next few

113
00:05:41,000 --> 00:05:43,160
Speaker 4: days to see, you know, if consumers do spend a

114
00:05:43,200 --> 00:05:46,159
Speaker 4: lot of money and retailers meet their expectations, and we

115
00:05:46,200 --> 00:05:49,240
Speaker 4: could see some of those retailers have their share price

116
00:05:49,440 --> 00:05:52,919
Speaker 4: go up, or vice versa. If the opposite happens and

117
00:05:52,960 --> 00:05:56,200
Speaker 4: we don't quite meet the expectations, then retail share price

118
00:05:56,200 --> 00:05:58,479
Speaker 4: could actually be impacted negatively by that.

119
00:05:59,000 --> 00:06:01,840
Speaker 3: The other big story on this morning is the fact

120
00:06:02,040 --> 00:06:05,880
Speaker 3: that we have a really special group of banks in Australia,

121
00:06:05,960 --> 00:06:09,200
Speaker 3: the Big four banks, but they're being disrupted. Can you

122
00:06:09,240 --> 00:06:10,200
Speaker 3: tell me more about that.

123
00:06:10,760 --> 00:06:12,960
Speaker 5: The big Gussie banks have been in the news lately

124
00:06:13,000 --> 00:06:15,799
Speaker 5: for a couple of different reasons. We've seen CBA posted

125
00:06:15,839 --> 00:06:19,120
Speaker 5: profits below expectations. We've seen the RBA is having some

126
00:06:19,200 --> 00:06:22,520
Speaker 5: issues with crypto. But one piece of news that we

127
00:06:22,640 --> 00:06:25,599
Speaker 5: found very interesting is that one of the big four

128
00:06:25,600 --> 00:06:28,960
Speaker 5: banks is being knocked out of fourth place. So more

129
00:06:29,040 --> 00:06:32,039
Speaker 5: Quari Group has overtaken A and Z Bank to become

130
00:06:32,080 --> 00:06:35,720
Speaker 5: the nation's fourth largest bank by market capitalization.

131
00:06:36,200 --> 00:06:40,280
Speaker 3: So can you explain exactly what you mean by market capitalization?

132
00:06:40,560 --> 00:06:44,039
Speaker 4: Yeah, so when we compare companies based on market market

133
00:06:44,040 --> 00:06:46,640
Speaker 4: cap basically just means that you take the number of

134
00:06:46,920 --> 00:06:50,240
Speaker 4: available shares that a company has and you multiply that

135
00:06:50,360 --> 00:06:52,920
Speaker 4: number by the share price, and this is often used

136
00:06:52,920 --> 00:06:54,760
Speaker 4: as a bit of an indication of how much a

137
00:06:54,800 --> 00:06:58,600
Speaker 4: company is worth according to the share market. So, based

138
00:06:58,600 --> 00:07:03,520
Speaker 4: on tuesday's close price, Mcquarie's market cap was seventy seven

139
00:07:03,560 --> 00:07:07,120
Speaker 4: point five billion dollars, just ahead of A and Z's

140
00:07:07,120 --> 00:07:10,840
Speaker 4: market cap of seventy five point four And interesting, it's

141
00:07:10,840 --> 00:07:14,400
Speaker 4: actually not far behind Westpac either, so maybe McQuary could

142
00:07:14,440 --> 00:07:16,160
Speaker 4: be the number three one not far away.

143
00:07:16,560 --> 00:07:19,840
Speaker 3: Does that have any material impacts on the way that

144
00:07:20,080 --> 00:07:23,360
Speaker 3: shareholders view the companies? Like, would A and Z shareholders

145
00:07:23,400 --> 00:07:26,280
Speaker 3: be particularly disappointed by that news or it's just kind

146
00:07:26,280 --> 00:07:28,720
Speaker 3: of the ebbs and flows of big banks.

147
00:07:29,040 --> 00:07:31,440
Speaker 5: I guess it just depends on your conviction behind why

148
00:07:31,520 --> 00:07:34,480
Speaker 5: you've invested in A and Z. It definitely shows growth

149
00:07:34,520 --> 00:07:37,480
Speaker 5: in a company like McQuary being able to diversify into

150
00:07:37,480 --> 00:07:40,880
Speaker 5: different revenue streams and offer more products on the market.

151
00:07:40,960 --> 00:07:44,040
Speaker 5: So A and Z investors would definitely compare and see

152
00:07:44,040 --> 00:07:46,640
Speaker 5: what McQuary is offering. But if they do have conviction

153
00:07:46,960 --> 00:07:48,960
Speaker 5: in their investment, then I guess they'd stick into the

154
00:07:48,960 --> 00:07:50,239
Speaker 5: investment for the long term.

155
00:07:50,680 --> 00:07:52,640
Speaker 3: And just before we wrap up, is there a new

156
00:07:52,760 --> 00:07:55,120
Speaker 3: story that you guys have your eye on for the

157
00:07:55,160 --> 00:07:58,640
Speaker 3: weak ahead, something interesting that's grabbing your attention in the

158
00:07:58,640 --> 00:07:59,440
Speaker 3: world of finance.

159
00:08:00,240 --> 00:08:03,640
Speaker 4: I read just this morning that Spotify is partnering with

160
00:08:03,760 --> 00:08:07,400
Speaker 4: Netflix to create a Netflix Hub to help listeners browse

161
00:08:07,480 --> 00:08:10,960
Speaker 4: the soundtracks from Netflix shows. So I'm keeping my eye

162
00:08:11,000 --> 00:08:12,960
Speaker 4: on that one. Thought that was a great idea.

163
00:08:12,800 --> 00:08:15,440
Speaker 5: And I've looked at the story. Life three sixty has

164
00:08:15,480 --> 00:08:18,480
Speaker 5: acquired the company Tile and Tyle is that well known

165
00:08:18,560 --> 00:08:21,720
Speaker 5: company that has those little Bluetooth devices that you can

166
00:08:21,760 --> 00:08:25,480
Speaker 5: put into your wallet and find your wallet. And the

167
00:08:25,560 --> 00:08:27,840
Speaker 5: reason why I'm watching this one is because I think

168
00:08:27,840 --> 00:08:31,920
Speaker 5: it's an exciting tech acquisition on the ASX and maybe

169
00:08:31,920 --> 00:08:34,960
Speaker 5: Australia is starting to gain some street cred in the

170
00:08:35,000 --> 00:08:36,800
Speaker 5: tech space, so one I'll be watching.

171
00:08:37,200 --> 00:08:39,800
Speaker 3: Well, you guys have street cred in the finance space

172
00:08:39,840 --> 00:08:41,720
Speaker 3: and that's why we love having you on the podcast.

173
00:08:41,880 --> 00:08:44,480
Speaker 3: Sophie and Maddie from your In Good Company. Have a

174
00:08:44,520 --> 00:08:47,839
Speaker 3: listen to the latest episode from the guys that You're

175
00:08:47,880 --> 00:08:50,720
Speaker 3: in Good Company. It's a banger, and have a great weekend.

176
00:08:50,800 --> 00:08:52,160
Speaker 3: Everyone will speak to you on Monday.

177
00:08:52,360 --> 00:08:53,160
Speaker 5: Happy Friday.