September 16, 2025 • 17 mins
Wednesday 17 September 2025
Super Retail fires its CEO after claiming he misled the board about his alleged relationship with the company’s head of HR.
And more, including:
- The federal government tells social media companies what it wants when the ban for under 16-year olds kicks in.
- Alphabet, owner of Google, crosses the $US3 trillion in value threshold.
- Profit making in the residential housing market hits a record high
- Donald Trump sues the New York Times for $US15 billion.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:06):
Welcome to Fear and Greed business news you can use today.
Super Retail fires at CEO after claiming he misled the
board about his alleged relationship with the company's head of HR.
The federal government tells social media companies what it wants
when the ban for under sixteen year old kicks in
and Alphabet owner of Google crosses the three trillion US
(00:27):
dollar in value threshold plus profit making in the residential
housing market, it is to record high and Donald Trump
sues The New York Times for fifteen billion US dollars.
It is Wednesday, the seventeenth of September twenty twenty five.
I'm Michael Thompson and good morning, Sean Aylmer.
Speaker 2 (00:44):
Good morning, Michael.
Speaker 1 (00:46):
Got some big numbers in that intro. They're out of
brand by the end of it. Some big stories today.
The main story this morning, Super Retail, the owner of
Rebel Sport BCF and the super TP auto brand, has
five chief executive Anthony Herety, after he allegedly misled the
board about his relationship with the company's former head of
(01:09):
human resources, Jane Kelly.
Speaker 2 (01:10):
The listed retailers said the decision followed some new information
provided by Herety. At the end of last week. After
considering the information, the board concluded that his earlier disclosures
had been inadequate. Super Retail has been entangled in a
high profile court battle with two former executives for more
than a year. At the center of their claims was
(01:32):
the alleged affair between the chief executive and the head
of human resources. Now. In April last year, super Retail's
former chief legal officer, Rebecca Farrell, and its former company
secretary Emelia Berzelli launched legal action against their previous employer,
super Retail overclaims of bullying, harassment, the alleged misuse of funds,
(01:52):
and failing to provide a safe workplace. The board played
down that those cases are ongoing. The board has played
the executive's relationship that between the CEO and the head
of HR, saying it started after Kelly had left the company. However,
a fresh internal investigation was initiated under new chairwoman due
(02:13):
to the Swales according to the Finn review, that has
ultimately culminated in yesterday's announcement. The boards also acted Herety's
future earnings with both vested and unvested incentives. So I
said again Luke, the Boards has also acxed Hereta's future earnings,
with both unvested incentives invested but unexercised rights being terminated.
(02:37):
Put all that together, that'll cost him about three point
four million dollars now sean.
Speaker 1 (02:43):
This case was particularly unusual because super Retail last year
announced the potential legal action ahead of it actually being taken,
and it also adds to this growing list of companies
where CEOs have had relationships with staff members, which really
isn't a great look.
Speaker 2 (03:03):
No, I mean, last year was Richard White at Weisstech Global,
this year super Retail. Actually this year really what was
the the astronomer chief executive is the name Andy Bryant
from the Coldplay.
Speaker 1 (03:13):
Concert that's really known as the Coldplay CEO.
Speaker 2 (03:18):
Yeah, yeah, So, I mean it's going on the point
in all this, I think is not so much the
relationships that they are probably ill advised if you're a CEO,
but I mean not my place to comment on the relationship.
It's the transparency around them and how they impack other
staff members. In many situations, allegations arise of misuse of
(03:40):
company funds, bullying, inadequate whistleblower protections. That's a real problem
for any company. Super Retail have certainly taken some the
soul of the board has taken decisive action to try
and stem what's going on there.
Speaker 1 (03:55):
Do you remember the gold standard for disclosures as it
relates to relationship. Yes, HP boss Mike Henry and the
relationship that he was having with Canadian National Railway Chief
executive Tracy Robinson, and the BHP directors considered it, gave
(04:15):
their approval and then the relationship continued.
Speaker 2 (04:18):
It was just that the point with that was that
BHPS Potash Mining used the rail network, and so it
was kind of if there was a relationship between the
CEOs of the two, was there a conflict of interest?
And as you say, so, it went to the board.
The board said no, it's okay, we got yep, justdard.
Speaker 1 (04:38):
Communication and disclosure is key.
Speaker 2 (04:40):
Right, communication, disclosure, lifeline of love, the mother.
Speaker 1 (04:48):
Just run everything through the boardroom. There we go, Okay,
let's move on local. Yeah, I don't know local markets.
How do they go? Yesterday?
Speaker 2 (05:01):
Well, there's six two hundred closed up a bit to
eighty eight hundred and seventy eight points of the uranium stock
did best among the large caps. West Farmers and Fortescu
did pretty well sell underperform. More on that in a moment.
There was a dollars training just under sixty seven US CNSE,
a ten month high in the back of expectations of
an interest rate cut in the US. This week. The
(05:21):
real news out of markets came from Wall Street. It
hit a new record yesterday. Google parent Alphabet continued its rally.
The company's market value topped three trillion US dollars for
the first time since September two, which was the day
before the company got a favorable court ruling in a
closely watched anti competitive case the day before. Take note,
(05:44):
Alphabet shares have risen nineteen percent, now three trillion dollars,
fourth largest stock on the ASEX, and Vidio's number one
at four point three trillion, Microsoft's at three point eight trillion,
apples at three point five trillion all US d dollars. There.
Put all that together, well, actually we'll put all that
together in the moment, but by comparison, the whole Australian
(06:06):
market is worth about two point one trillion US, half
the size of just Nvidia. So the size of these
companies are quite incredible, which is an excellent segue Michael,
I know I'm going here into business by numbers.
Speaker 1 (06:25):
Oh, this is the top three numbers to know for
the week, brought to you by zero zero dot com
slash au and I have a feeling that one of
those could end up being.
Speaker 2 (06:36):
Make it number one.
Speaker 1 (06:37):
Let's do it. It is the it's the biggest number
of all right, what is it? Fourteen point six trillion
US dollar?
Speaker 2 (06:43):
Sean, Yes, the combined value of Nvidia, Microsoft, Apple and Alphabet.
Now I'm doing the maths in the head my head here,
but it's like six or seven. That value of fine
two point six trillion is six or seven times the
value of all of the Australian sheer market combined. Quite incredible.
Speaker 1 (07:03):
That is a staggering figure. That's just next level. The
next figure not quite as significant, but still very meaningful
for Australian households three hundred and fifteen thousand dollars.
Speaker 2 (07:16):
That is the median nominal gain on house prices in
Australia when you're buying and selling. Will come to that
one in a moment.
Speaker 1 (07:23):
And finally, what's the last one, Sean? Is it by
any chance relating to the Aussie dollar?
Speaker 2 (07:28):
Ah? Absolutely close to my heart at the moment sixty
six points seventy five yeers since the new ten month
high for the Aussie against the Greenback.
Speaker 1 (07:36):
All right, there we go. That is Business by Numbers.
The top three numbers to know for the week, brought
to you by zero Sean will take a quick break
back in a moment with the rest of the day's
business news Sean. The federal government has provided social media
giants more detail of what it expects from them when
(07:59):
the band for under sixteen year old kicks in in December.
Speaker 2 (08:04):
The government says the social media giants need to have
systems in place that detect underage users, stop them by
passing the ban, and they also need a system that
makes it easier for wrongfully deactivated users to appeal. Now,
Canber isn't telling the tech companies how they should comply.
That's sort of leaving it up to them. They're just
(08:25):
saying you must comply. Communications Minister Anika Wells and e
Safety Commissioner Julie Inman Grant issued the directions to YouTube, TikTok, Snapchat,
Instagram and Facebook yesterday. Under the laws, which will come
into effect on December ten, children under the age of
sixteen will be forbidden from having accounts on the platforms.
If platforms are deemed to have failed to reasonably try
(08:48):
to keep kids off it, they could face fines up
to about fifty million dollars. Just under that. They'll be
expected to be able to detect and deactivate underage accounts,
prevent reregistration or circumvention, and, as I mentioned before, to
provide a way for users to request review of the ban.
Social media companies obviously dang like this. They want it
(09:09):
to happen, you know, at the app store level. The
government's pushing ahead with it.
Speaker 1 (09:14):
Okay. Drug Giant CSL will make an initial upfront payment
of one hundred and seventeen million US dollars to a
US company to fund a clinical trial of a new
bleeding disorder treatment.
Speaker 2 (09:27):
The trial's being run by a group called varm x
vaarm x, and the trials a Phase three clinical trials,
so they're a fair way down the path. Under the
DLCSL gets an exclusive option to buy the private company.
The announcement wasn't well received. A CLSAL share price was
down three percent yesterday. It's off twenty five percent since
(09:47):
its earnings report a month ago or thereabouts. What's interesting.
It's all sort of the first investment announced since the
company said it would cut three thousand jobs and scale
back its global R and D presence. It's a bit
of surprise that it's all of a sudden spending in
that area. If it exercises the option to buy the company,
cees he will invest a further three hundred and eighty
(10:08):
eight million US up to the commercial launch of Armix's treatment,
which is expected at the end of this decade.
Speaker 1 (10:14):
At the end of this decade, isn't that extraordinary when
you think about the length of time that a lot
of these treatments and things take. These are not quick
things to develop, are they. They are long, long processes,
particularly going through the clinical trials.
Speaker 2 (10:28):
And this is phase three clinical trials, so they've already
been through two phases. This is sort of if it
gets through this, it's quite Phase four is more or
less a rubber stamp. But you're right, it's just so
many years to come to market.
Speaker 1 (10:40):
Indeed, now back home, the federal government will lower annual
fees charged to offshore wind developers in an attempt to
reverse the slowdown of investment in the sector and maybe
sean generate a bit of excitement.
Speaker 2 (10:56):
Generate a bit of hot air or something like that.
You know, been sort of in Europe and we're off
the coast of Norway and you know, you're cruising along
it and you come across literally hundreds, possibly thousands of
windmills in the middle of the Asian One of the
most extraordinary things I've ever seen.
Speaker 1 (11:14):
Did you take any photos?
Speaker 2 (11:17):
Actually it was quite foggy. I'll have a look. I'll
send one through if there is a photo.
Speaker 1 (11:21):
Yeah, definitely, Okay, all right, now, that's cool.
Speaker 2 (11:23):
Offshore wind's not a big part in the government's plan
to generate eighty two percent of the country's electricity from
new renewable energy sources by twenty thirty. It might become bigger.
We'll find that out in the next few days. What's
happening in that sectorm So there's been media reports that
companies are pulling back from it. For example, Origin Energy
back to Navigator North put a proposed eight billion dollar
(11:45):
Victorian offshore wind farm on ice. The government is trying
to provide some incentives, you know, waiver annual levies, things
like that to actually encourage this offshore wind farming. Not
quite sustainable at the moment, solars seems to be a
better option, but we need wind as well as solo,
(12:07):
So that's what this is about.
Speaker 1 (12:08):
Now. We mentioned this one earlier when we talked about
the business by numbers for the week sean. But more
than ninety percent of home sales make money for the seller,
and the amount of nominal profit the dollars in the
pocket has reached a record level exactly. The median nominal
gain from resales rose to a record three hundred and
(12:28):
fifteen thousand dollars during the Dune quarter. According to Totalities
Q two Pain and Gain report, the median loss fell
to forty two thousand dollars. Basically, nine out of twenty
people that sell a house at the moment are making
money from it. The decade average is about eighteen out
of twenty ninety one point five percent. It's at about
(12:50):
ninety now, it's nineteen out of twenty people are making money.
Hottest market market loeh, the hottest market Michael. Along the
south coast of New South Wales, people are making a
gross profit of seven hundred and fifty eight thousand dollars.
Risbon the most profitable of the capital cities, but New
South Wales dominates the list of most profitable markets. It
(13:13):
had six of the top ten most profitable local government
areas in the June quarter.
Speaker 2 (13:19):
A royal regional Australia outperforms the capital cities in terms
of profitability. That's been a trend for about the last
five years, really since covid okay.
Speaker 1 (13:28):
One last one before we get to international news, this
is a quick State story. Victorian Premier to Cinder Allen
has left the door open to securing Chinese investment in
the thirty four point five billion dollar suburban rail loop,
suggesting that she'll be making an announcement in the coming days.
Speaker 2 (13:43):
In press conference in Beijing yesterday, is Allen on three
occasions declined to rule out taking Chinese investor money for
the suburban rail loop. Now victorious desperate to attract private
investment into the rail project. Only a fraction of the
total cost is budget For any time a politician is
(14:03):
talking about taking money from China, particularly when they're from Victoria, Michael,
it seems to make the news.
Speaker 1 (14:09):
Certainly does. Turning to international news now, and US President
Donald Trump has filed a defamation lawsuit against The New
York Times, just a small one. He's seeking fifteen billion
US dollars in damages from the media organization that he's
accused of being a mouthpiece for the Democratic Party.
Speaker 2 (14:26):
Or as Trump accused The New York Times of spreading
false and defamatory content about the president. They accused the
paper of being a full throated mouthpiece. That's the quote
of the Democratic Party, and I keep quoting a leading
and unapologetic purveyor of false hoods against President Trump end quote.
The defamation lawsuit against the NYT is the fourth multi
(14:49):
billion dollar lawsuit Trump has filed against major US news
organizations since March twenty twenty four. According to the ft,
both ABC News and CBS News settled separate lawsuits by
paying fifteen million dollars to Trump's future presidential library and
money for legal fees. In July, Trump said the Wall
Street Journal for ten billion dollars over publishing an article
(15:09):
about a lud birthday card he allegedly sent to Jeffrey Epstein.
I'm not sure what this does for the freedom of
the press, Michael.
Speaker 1 (15:16):
No, now one last one, and it does also relate
to the president. Donald Trump said he would speak with
Chinese leader Jijiping on Friday, as US and Chinese officials
reached a framework deal on keeping the TikTok app running
in the United States.
Speaker 2 (15:31):
It would be the first direct engagement between Trump and
She since June. In a post on social media, Trump said,
I quit. I will be speaking to President g on Friday.
The relationship remains a very strong one. Exclamation mark, exclamation mark,
exclamation mark. Referring to a meeting of top officials between
the two nations in Madrid. Trump also said that session
(15:53):
has gone very well. Capps of course. US Treasury Secretary
Scott Bessett, who led the talks in Spain, told reporters
that are framework to keep deep by dancers TikTok app
running in the US had been reached.
Speaker 1 (16:04):
Okay, up next, Shawn, As we're in grad Q and A,
and today we're speaking with mcgrar nickel, Matt Grant and
Matt Fian from mcgrar nickel. It is all about business risk.
It is all kinds of risk, cyber risk, supply chain risk,
geopolitical risk and the things that business leaders Australian business
leaders have identified as the biggest challenges for the year ahead.
(16:26):
It is a great chat, isn't it.
Speaker 2 (16:28):
It sure is talk to the two Mats. Matt Feene
particularly is a bit of a regular on the show.
We do talk these are things very very important for
businesses to think about, particularly as they grow. I mean
it's important for you know, two three person business lettle
out of ten fifteen, and then as they grow bigger
and bigger, these risks become real and they range across
(16:51):
the spectrum, and we talk to the Mats about that.
Mcgrar nickel a great supporter of our podcast and they've
got some really interesting things to say about it.
Speaker 1 (17:00):
Yeah, indeed, Okay, that is coming up next in the
Fear and Greed playlist on new podcast platform or at
Fearangreed dot com. Today you which is where you sign
up for the free daily newsletter. Thank you Sean, Thank
you Michael. It is Wednesday, the seventeenth of September twenty
twenty five. Make sure you're following the podcast and please
join us online on LinkedIn, Instagram, x TikTok and Facebook.
I'm Michael Thompson and that was Fear and Greed. Have
(17:21):
a great day.
Welcome to Fear and Greed business news you can use today.
Super Retail fires at CEO after claiming he misled the
board about his alleged relationship with the company's head of HR.
The federal government tells social media companies what it wants
when the ban for under sixteen year old kicks in
and Alphabet owner of Google crosses the three trillion US
(00:27):
dollar in value threshold plus profit making in the residential
housing market, it is to record high and Donald Trump
sues The New York Times for fifteen billion US dollars.
It is Wednesday, the seventeenth of September twenty twenty five.
I'm Michael Thompson and good morning, Sean Aylmer.
Speaker 2 (00:44):
Good morning, Michael.
Speaker 1 (00:46):
Got some big numbers in that intro. They're out of
brand by the end of it. Some big stories today.
The main story this morning, Super Retail, the owner of
Rebel Sport BCF and the super TP auto brand, has
five chief executive Anthony Herety, after he allegedly misled the
board about his relationship with the company's former head of
(01:09):
human resources, Jane Kelly.
Speaker 2 (01:10):
The listed retailers said the decision followed some new information
provided by Herety. At the end of last week. After
considering the information, the board concluded that his earlier disclosures
had been inadequate. Super Retail has been entangled in a
high profile court battle with two former executives for more
than a year. At the center of their claims was
(01:32):
the alleged affair between the chief executive and the head
of human resources. Now. In April last year, super Retail's
former chief legal officer, Rebecca Farrell, and its former company
secretary Emelia Berzelli launched legal action against their previous employer,
super Retail overclaims of bullying, harassment, the alleged misuse of funds,
(01:52):
and failing to provide a safe workplace. The board played
down that those cases are ongoing. The board has played
the executive's relationship that between the CEO and the head
of HR, saying it started after Kelly had left the company. However,
a fresh internal investigation was initiated under new chairwoman due
(02:13):
to the Swales according to the Finn review, that has
ultimately culminated in yesterday's announcement. The boards also acted Herety's
future earnings with both vested and unvested incentives. So I
said again Luke, the Boards has also acxed Hereta's future earnings,
with both unvested incentives invested but unexercised rights being terminated.
(02:37):
Put all that together, that'll cost him about three point
four million dollars now sean.
Speaker 1 (02:43):
This case was particularly unusual because super Retail last year
announced the potential legal action ahead of it actually being taken,
and it also adds to this growing list of companies
where CEOs have had relationships with staff members, which really
isn't a great look.
Speaker 2 (03:03):
No, I mean, last year was Richard White at Weisstech Global,
this year super Retail. Actually this year really what was
the the astronomer chief executive is the name Andy Bryant
from the Coldplay.
Speaker 1 (03:13):
Concert that's really known as the Coldplay CEO.
Speaker 2 (03:18):
Yeah, yeah, So, I mean it's going on the point
in all this, I think is not so much the
relationships that they are probably ill advised if you're a CEO,
but I mean not my place to comment on the relationship.
It's the transparency around them and how they impack other
staff members. In many situations, allegations arise of misuse of
(03:40):
company funds, bullying, inadequate whistleblower protections. That's a real problem
for any company. Super Retail have certainly taken some the
soul of the board has taken decisive action to try
and stem what's going on there.
Speaker 1 (03:55):
Do you remember the gold standard for disclosures as it
relates to relationship. Yes, HP boss Mike Henry and the
relationship that he was having with Canadian National Railway Chief
executive Tracy Robinson, and the BHP directors considered it, gave
(04:15):
their approval and then the relationship continued.
Speaker 2 (04:18):
It was just that the point with that was that
BHPS Potash Mining used the rail network, and so it
was kind of if there was a relationship between the
CEOs of the two, was there a conflict of interest?
And as you say, so, it went to the board.
The board said no, it's okay, we got yep, justdard.
Speaker 1 (04:38):
Communication and disclosure is key.
Speaker 2 (04:40):
Right, communication, disclosure, lifeline of love, the mother.
Speaker 1 (04:48):
Just run everything through the boardroom. There we go, Okay,
let's move on local. Yeah, I don't know local markets.
How do they go? Yesterday?
Speaker 2 (05:01):
Well, there's six two hundred closed up a bit to
eighty eight hundred and seventy eight points of the uranium stock
did best among the large caps. West Farmers and Fortescu
did pretty well sell underperform. More on that in a moment.
There was a dollars training just under sixty seven US CNSE,
a ten month high in the back of expectations of
an interest rate cut in the US. This week. The
(05:21):
real news out of markets came from Wall Street. It
hit a new record yesterday. Google parent Alphabet continued its rally.
The company's market value topped three trillion US dollars for
the first time since September two, which was the day
before the company got a favorable court ruling in a
closely watched anti competitive case the day before. Take note,
(05:44):
Alphabet shares have risen nineteen percent, now three trillion dollars,
fourth largest stock on the ASEX, and Vidio's number one
at four point three trillion, Microsoft's at three point eight trillion,
apples at three point five trillion all US d dollars. There.
Put all that together, well, actually we'll put all that
together in the moment, but by comparison, the whole Australian
(06:06):
market is worth about two point one trillion US, half
the size of just Nvidia. So the size of these
companies are quite incredible, which is an excellent segue Michael,
I know I'm going here into business by numbers.
Speaker 1 (06:25):
Oh, this is the top three numbers to know for
the week, brought to you by zero zero dot com
slash au and I have a feeling that one of
those could end up being.
Speaker 2 (06:36):
Make it number one.
Speaker 1 (06:37):
Let's do it. It is the it's the biggest number
of all right, what is it? Fourteen point six trillion
US dollar?
Speaker 2 (06:43):
Sean, Yes, the combined value of Nvidia, Microsoft, Apple and Alphabet.
Now I'm doing the maths in the head my head here,
but it's like six or seven. That value of fine
two point six trillion is six or seven times the
value of all of the Australian sheer market combined. Quite incredible.
Speaker 1 (07:03):
That is a staggering figure. That's just next level. The
next figure not quite as significant, but still very meaningful
for Australian households three hundred and fifteen thousand dollars.
Speaker 2 (07:16):
That is the median nominal gain on house prices in
Australia when you're buying and selling. Will come to that
one in a moment.
Speaker 1 (07:23):
And finally, what's the last one, Sean? Is it by
any chance relating to the Aussie dollar?
Speaker 2 (07:28):
Ah? Absolutely close to my heart at the moment sixty
six points seventy five yeers since the new ten month
high for the Aussie against the Greenback.
Speaker 1 (07:36):
All right, there we go. That is Business by Numbers.
The top three numbers to know for the week, brought
to you by zero Sean will take a quick break
back in a moment with the rest of the day's
business news Sean. The federal government has provided social media
giants more detail of what it expects from them when
(07:59):
the band for under sixteen year old kicks in in December.
Speaker 2 (08:04):
The government says the social media giants need to have
systems in place that detect underage users, stop them by
passing the ban, and they also need a system that
makes it easier for wrongfully deactivated users to appeal. Now,
Canber isn't telling the tech companies how they should comply.
That's sort of leaving it up to them. They're just
(08:25):
saying you must comply. Communications Minister Anika Wells and e
Safety Commissioner Julie Inman Grant issued the directions to YouTube, TikTok, Snapchat,
Instagram and Facebook yesterday. Under the laws, which will come
into effect on December ten, children under the age of
sixteen will be forbidden from having accounts on the platforms.
If platforms are deemed to have failed to reasonably try
(08:48):
to keep kids off it, they could face fines up
to about fifty million dollars. Just under that. They'll be
expected to be able to detect and deactivate underage accounts,
prevent reregistration or circumvention, and, as I mentioned before, to
provide a way for users to request review of the ban.
Social media companies obviously dang like this. They want it
(09:09):
to happen, you know, at the app store level. The
government's pushing ahead with it.
Speaker 1 (09:14):
Okay. Drug Giant CSL will make an initial upfront payment
of one hundred and seventeen million US dollars to a
US company to fund a clinical trial of a new
bleeding disorder treatment.
Speaker 2 (09:27):
The trial's being run by a group called varm x
vaarm x, and the trials a Phase three clinical trials,
so they're a fair way down the path. Under the
DLCSL gets an exclusive option to buy the private company.
The announcement wasn't well received. A CLSAL share price was
down three percent yesterday. It's off twenty five percent since
(09:47):
its earnings report a month ago or thereabouts. What's interesting.
It's all sort of the first investment announced since the
company said it would cut three thousand jobs and scale
back its global R and D presence. It's a bit
of surprise that it's all of a sudden spending in
that area. If it exercises the option to buy the company,
cees he will invest a further three hundred and eighty
(10:08):
eight million US up to the commercial launch of Armix's treatment,
which is expected at the end of this decade.
Speaker 1 (10:14):
At the end of this decade, isn't that extraordinary when
you think about the length of time that a lot
of these treatments and things take. These are not quick
things to develop, are they. They are long, long processes,
particularly going through the clinical trials.
Speaker 2 (10:28):
And this is phase three clinical trials, so they've already
been through two phases. This is sort of if it
gets through this, it's quite Phase four is more or
less a rubber stamp. But you're right, it's just so
many years to come to market.
Speaker 1 (10:40):
Indeed, now back home, the federal government will lower annual
fees charged to offshore wind developers in an attempt to
reverse the slowdown of investment in the sector and maybe
sean generate a bit of excitement.
Speaker 2 (10:56):
Generate a bit of hot air or something like that.
You know, been sort of in Europe and we're off
the coast of Norway and you know, you're cruising along
it and you come across literally hundreds, possibly thousands of
windmills in the middle of the Asian One of the
most extraordinary things I've ever seen.
Speaker 1 (11:14):
Did you take any photos?
Speaker 2 (11:17):
Actually it was quite foggy. I'll have a look. I'll
send one through if there is a photo.
Speaker 1 (11:21):
Yeah, definitely, Okay, all right, now, that's cool.
Speaker 2 (11:23):
Offshore wind's not a big part in the government's plan
to generate eighty two percent of the country's electricity from
new renewable energy sources by twenty thirty. It might become bigger.
We'll find that out in the next few days. What's
happening in that sectorm So there's been media reports that
companies are pulling back from it. For example, Origin Energy
back to Navigator North put a proposed eight billion dollar
(11:45):
Victorian offshore wind farm on ice. The government is trying
to provide some incentives, you know, waiver annual levies, things
like that to actually encourage this offshore wind farming. Not
quite sustainable at the moment, solars seems to be a
better option, but we need wind as well as solo,
(12:07):
So that's what this is about.
Speaker 1 (12:08):
Now. We mentioned this one earlier when we talked about
the business by numbers for the week sean. But more
than ninety percent of home sales make money for the seller,
and the amount of nominal profit the dollars in the
pocket has reached a record level exactly. The median nominal
gain from resales rose to a record three hundred and
(12:28):
fifteen thousand dollars during the Dune quarter. According to Totalities
Q two Pain and Gain report, the median loss fell
to forty two thousand dollars. Basically, nine out of twenty
people that sell a house at the moment are making
money from it. The decade average is about eighteen out
of twenty ninety one point five percent. It's at about
(12:50):
ninety now, it's nineteen out of twenty people are making money.
Hottest market market loeh, the hottest market Michael. Along the
south coast of New South Wales, people are making a
gross profit of seven hundred and fifty eight thousand dollars.
Risbon the most profitable of the capital cities, but New
South Wales dominates the list of most profitable markets. It
(13:13):
had six of the top ten most profitable local government
areas in the June quarter.
Speaker 2 (13:19):
A royal regional Australia outperforms the capital cities in terms
of profitability. That's been a trend for about the last
five years, really since covid okay.
Speaker 1 (13:28):
One last one before we get to international news, this
is a quick State story. Victorian Premier to Cinder Allen
has left the door open to securing Chinese investment in
the thirty four point five billion dollar suburban rail loop,
suggesting that she'll be making an announcement in the coming days.
Speaker 2 (13:43):
In press conference in Beijing yesterday, is Allen on three
occasions declined to rule out taking Chinese investor money for
the suburban rail loop. Now victorious desperate to attract private
investment into the rail project. Only a fraction of the
total cost is budget For any time a politician is
(14:03):
talking about taking money from China, particularly when they're from Victoria, Michael,
it seems to make the news.
Speaker 1 (14:09):
Certainly does. Turning to international news now, and US President
Donald Trump has filed a defamation lawsuit against The New
York Times, just a small one. He's seeking fifteen billion
US dollars in damages from the media organization that he's
accused of being a mouthpiece for the Democratic Party.
Speaker 2 (14:26):
Or as Trump accused The New York Times of spreading
false and defamatory content about the president. They accused the
paper of being a full throated mouthpiece. That's the quote
of the Democratic Party, and I keep quoting a leading
and unapologetic purveyor of false hoods against President Trump end quote.
The defamation lawsuit against the NYT is the fourth multi
(14:49):
billion dollar lawsuit Trump has filed against major US news
organizations since March twenty twenty four. According to the ft,
both ABC News and CBS News settled separate lawsuits by
paying fifteen million dollars to Trump's future presidential library and
money for legal fees. In July, Trump said the Wall
Street Journal for ten billion dollars over publishing an article
(15:09):
about a lud birthday card he allegedly sent to Jeffrey Epstein.
I'm not sure what this does for the freedom of
the press, Michael.
Speaker 1 (15:16):
No, now one last one, and it does also relate
to the president. Donald Trump said he would speak with
Chinese leader Jijiping on Friday, as US and Chinese officials
reached a framework deal on keeping the TikTok app running
in the United States.
Speaker 2 (15:31):
It would be the first direct engagement between Trump and
She since June. In a post on social media, Trump said,
I quit. I will be speaking to President g on Friday.
The relationship remains a very strong one. Exclamation mark, exclamation mark,
exclamation mark. Referring to a meeting of top officials between
the two nations in Madrid. Trump also said that session
(15:53):
has gone very well. Capps of course. US Treasury Secretary
Scott Bessett, who led the talks in Spain, told reporters
that are framework to keep deep by dancers TikTok app
running in the US had been reached.
Speaker 1 (16:04):
Okay, up next, Shawn, As we're in grad Q and A,
and today we're speaking with mcgrar nickel, Matt Grant and
Matt Fian from mcgrar nickel. It is all about business risk.
It is all kinds of risk, cyber risk, supply chain risk,
geopolitical risk and the things that business leaders Australian business
leaders have identified as the biggest challenges for the year ahead.
(16:26):
It is a great chat, isn't it.
Speaker 2 (16:28):
It sure is talk to the two Mats. Matt Feene
particularly is a bit of a regular on the show.
We do talk these are things very very important for
businesses to think about, particularly as they grow. I mean
it's important for you know, two three person business lettle
out of ten fifteen, and then as they grow bigger
and bigger, these risks become real and they range across
(16:51):
the spectrum, and we talk to the Mats about that.
Mcgrar nickel a great supporter of our podcast and they've
got some really interesting things to say about it.
Speaker 1 (17:00):
Yeah, indeed, Okay, that is coming up next in the
Fear and Greed playlist on new podcast platform or at
Fearangreed dot com. Today you which is where you sign
up for the free daily newsletter. Thank you Sean, Thank
you Michael. It is Wednesday, the seventeenth of September twenty
twenty five. Make sure you're following the podcast and please
join us online on LinkedIn, Instagram, x TikTok and Facebook.
I'm Michael Thompson and that was Fear and Greed. Have
(17:21):
a great day.
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