September 30, 2025 • 17 mins
Wednesday 1 October 2025
The Reserve Bank is getting a little more worried about inflation, as it leaves rates on hold.
- Prime Minister Anthony Albanese joins global leaders in welcoming Donald Trump’s peace plan for the Middle East.
- Seven West Media to merge with radio group Southern Cross Media.
- Australia’s housing market heats up in September.
- Optus’ owner blames staff for network outages.
- The White House slaps 100 per cent tariffs on foreign made films.
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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.
The Reserve Bank is getting a little more worried about
inflation as it leaves rates on hold. Prime Minister Anthony
Albanezi joins global leaders in welcoming Donald Trump's peace plan
for the Middle East, and Seven West Media to merge
with radio groups Southern Cross Media Plus Optics's owner blames
staff for network outages, and the White House slaps one
(00:29):
hundred percent tariffs on foreign made films. It is Wednesday,
the first of October twenty twenty five. I'm Michael Thompson,
and good morning, Sean Aylmer.
Speaker 2 (00:38):
Good morning, Michael, Sean.
Speaker 1 (00:40):
There's plenty going on. The main story this morning. The
Reserve Bank has sounded a note of caution really about
inflationary pressures wavering and confidence about whether price rises are
in fact under control and really diminishing the chance of
rape cuts later this year.
Speaker 2 (00:56):
At Central Bank yesterday, lift the official cash rate unchanged
at three point six percent and warn than inflation is
on track to overshoot its forecasts. That's bad news. The
board said that the decline in underlying inflation had slowed
since its August meeting. In recent data, while partial and volatile,
suggests inflation might be higher than expected. The board statement
(01:17):
said stronger than expected data on economic growth and inflation
could indicate that households have become more comfortable spending as
real incomes and wealth rise, So that's all good news.
The thing is, though, that means it might be easier
for businesses to pass on high costs to consumers. Preserve VANK.
Governor Michelle Bullock, in a press conference after the meeting,
said she's been surprised about some of the inflation and
(01:38):
growth data, saying that both have been stronger than expected,
noting that services inflation in particular has remained sticky. In
terms of economic growth, she said it's good news and
supports the decision not to cut rates.
Speaker 1 (01:50):
What's the bottom line, then, sean, are we going to
get more rate cuts or are we not going to
get more rate cuts?
Speaker 2 (01:56):
Well, Michelle Bullock says, it's a meeting by meeting proposition.
So let's go to the professional investors. What do they reckon?
They're actually putting money on this. The three year bond
rate rose slightly after the announcement to three point six percent.
Now the cash rate is three point six percent. So
what that means is that bond investors think that on average,
(02:16):
interest rates will stay around the current level on average
for the next three years. They have priced in a
full rate cut by March next year. There might be
a second one after that, but broadly they reckon that.
The Reserve Bank maybe one more rate cut, but that's
about it. The Reserve Bank Board next meets on Melbourne
Cup Day. If the September quarter inflation data which is
(02:39):
released later this month comes in around two and a
half percent, then a rate cut is probably on higher
than that, particularly if that two point seven to two
point eight, all bets are off very appropriate for Melbourne
Cup Day. Michael my tip and it is only my tip.
One more rate cut, maybe two. That'll be over the
next nine months, but then they'll be done.
Speaker 1 (03:00):
Okay, Well, we have seen that. So we've had three
rate cuts already this year and we have seen that
then feeding into the housing market and pushing prices up,
and we are now seeing that in the latest start
from cotality, the housing market heading up September delivering the
strongest monthly rise in national dwelling values since October twenty
twenty three. The Home Value Index from totality jumped zero
(03:24):
point eight percent last month, driven by capital city momentum
and record low listings as well.
Speaker 2 (03:31):
Yes, so if you take a bit of a longer
time frame, because I think that's more helpful. On a
quarterly basis, the national value index is up two point
two percent. In June court it was only one point
five percent. March is one point one percent, so you
can really see that trend happening. Growth has once again
become very broad based, with every capital city and rest
(03:52):
of state region rising. According to cotality, Perth and Brisbane
once again pulling ahead of the larger caps. Their values
are up four and three and a half percent during
that September quarter. If you're interested in you mean Gator
kotalit if you're interested in your own quarter. But I'll
just run through some of the big ones. So Sydney
was up for the quarter two point one percent, Melbourne
(04:13):
one percent. Now we've seen auction clearance rates much higher
in Melbourne, but up one percent. Brisbane and Perth. We
mentioned Adelaide's two and a half percent. Darwin's doing really
well almost six percent for the quarter.
Speaker 1 (04:24):
All right, turning into local markets now, sean equity markets
where do we go yesterday.
Speaker 2 (04:31):
Well, most of the day was waiting to see what
the reserve vank did. By the close, y SMPA six
two hundred was down ever so slightly, eighty four to
nine points. A couple of notables in their IDP education
jumped sixteen percent. Now they didn't say anything, it's just
jumped sixteen percent. This is a stock that was worth
what thirty eight bucks about four years ago. Seven bucks
(04:51):
today had all sorts of issues. Anyway, big jump yesterday.
Star Entertainment resumed trading and Tom Palmer, the boss of Newmont,
the world's top goal Pridge, which is the secondaryist thing
on my AX, will step down at the end of the year.
It's share price, unlike most other gold stocks, yesterday fell.
Speaker 1 (05:08):
Sean, it is Wednesday, which is a great day. Got
that was very Donald Trump, ask, wasn't it? But it
is time for business.
Speaker 2 (05:16):
By numbers, Donald Trump would be the most magnificent day ever,
So understand great day.
Speaker 1 (05:21):
The top three numbers to know for the week, Sean
brought to you by zero zero dot com slash au.
What is our first number?
Speaker 2 (05:29):
Well, I'm going at three point six percent, but not
because that's the official cash rate. It's because that's what
the three year bond rate says, and so, as we mentioned,
professional investors reckon that rates are going to average about
what they are today over the next three years. I
think that's quite interesting.
Speaker 1 (05:51):
I think so it feels like you needed to justify
that just then.
Speaker 2 (05:54):
But no, I did idea at the end. I did
because you know bond rates ever since you say that,
everyone starts glazing over.
Speaker 1 (06:00):
But from what it tells us the long term like
that is very interesting. What's our second number to know
this week?
Speaker 2 (06:07):
Seawan well, thirty eight hundred US dollars an ounce That,
of course is the mark that gold pushed through yesterday,
or actually pushed through a couple of days ago. Quite
phenomenal what gold has done, and silver as well. We
would have put that one in there too. What that's
above forty five US dollars an ounce that's actually outperformed
gold this.
Speaker 1 (06:26):
Year and finally shown our third number is one we
haven't actually covered yet.
Speaker 2 (06:31):
Four hundred and fifteen million dollars the value of a
merger if it succeeds of seven West Media in Southern
Cross Media.
Speaker 1 (06:41):
Why.
Speaker 2 (06:41):
I think that's interesting. These two assets seven West Media
as in Channel seven Southern Cross Media, a bunch of
radio stations. It's actually not that much. Four hundred and
fifteen million dollars. Compare that to the value of Commonwealth
Bank at what two hundred and thirty billion dollars. There
you go, Yeah, really good point.
Speaker 1 (07:00):
All right. They are the top three numbers to know
for the week. Brought to you by zero Sewn a
quick break. We'll be back in a moment with the
rest of the day's business news. Sean Prime Minister Anthony
Abernezi says Australia welcomes US President Donald Trump's plan for
a peace deal in Gaza, highlighting that Trump's plan would
(07:23):
exclude Hermas from future governance in Gaza.
Speaker 2 (07:27):
The Prime Minister called on Hamas to lay down its
weapons and release its remaining Israeli hostages, and commended the
plan's focus on a Palestinian self determination and statehood, adding
that the plan reflects a clear rejection of annexation and
the forced displacement of Palestinians. Albanezi added that Australia urges
all parties to engage seriously with the plan to work
to being its vision into reality without delay. He wasn't
(07:50):
alone global leaders from Muslim countries to Western democracies have
all at least given lukewarm support. Now we are waiting
on the Palestine to hear exactly what it says, though
Benjamin Attnahu, the Israeli Prime Minister, has also kind of
given tentative support at this point.
Speaker 1 (08:11):
Yeah, so broadly we can say that it has been welcomed,
but in most cases it's on the proviso that it
is followed, and there's a fair bit to it.
Speaker 2 (08:19):
Yeah. So in short, the plan begins with the immediate
cessation of military operations and says existing battle lines would
be frozen in place until conditions are met fray stage
to withdrawal of Israel, that is Hamas would lay down
its arms, and its tunnels and weapon production facilities would
be destroyed. For every Israeli hostage whose remains are released
over the next seventy two hours, that's dead end alive.
(08:42):
Israel will release the remains of fifteen Gazans, the plan says.
The plan also stipulates that once both sides agreed to
the proposal, full aid will be immediately sent into the
Gaza strip. Now, what's interesting in this one, and you
were talking about this yesterday in the afternoon report, Michael
is the idea of the future governance of Gaza. So
a technocratic, apolitical Palestinian committee will governed temporarily with oversight
(09:07):
and supervision by a new international transition body called the
Board of Peace. The chair will be Donald Trump.
Speaker 1 (09:14):
Yeah, and even Tony Blair would be part of their
former UK PM. So it does feel like it is
a very international solution. But yeah, we'll wait and see
what the Palestinian response is to this now. Sean staying
with the Prime Minister Albanese says the Orcast Pact has
been meeting its milestones and is delivering in the interests
(09:36):
of all parties. Amid a report that indicated the deal
will in fact clear a review by the Pentagon in
time for Albanese's trip to the US this month.
Speaker 2 (09:45):
Yeah. So. His comments followed a report in Nickai Asia
that said the sale of US submarines to Australia under
the Orchest Pact had been endorsed by the Pentagon. US
officials told Nicky Asia that the review will be finalized
before the PM visits the White House on Octant over twenty.
When asked about the report, Albanezy said The Orchest review
remains ongoing, but it's been a constructive process. The Pentagon
(10:07):
Review of AUCAS wants to ensure the sale of US
subs to Australia is part of AUCUST doesn't diminish US
military capacity. That's basically what it's about. Just a reminder,
Australia will spend three hundred and sixty eight billion dollars
over the next thirty years to buy eight nuclear powered
Virginia Class subs.
Speaker 1 (10:23):
We mentioned this next one in our Business by Numbers
segment before Shawn, but seven West Media plans to merge
with Australia's biggest radio company, Southern Cross Media, to create
a four hundred and fifteen million dollar television, radio and
publishing group, and as part of the deal, Kerry Stokes,
the founder of the Seven Network, he would exit.
Speaker 2 (10:43):
The didn't think that would ever happen. Southern Cross owns
the Triple M Network as well as the Hit Network,
which includes stations such as Melbourne's The Fox. Seven owns
the West Australian newspaper The Seven Network that of course
has AFL and cricket broadcast rights. The share swap will
result in such Than Cross controlling the combined business with
fifty point one percent sake. Seven shareholders will own forty
(11:06):
nine point nine percent. The deal, which is subject to
regulatory approval, is expected to be completed by early next year.
Speaker 1 (11:13):
I mentioned Kerry Stokes there. He is the chair of Seven,
He's eighty five years old. Here is its biggest investor.
He's going to step down from the merged company's board
in February if it all goes through, but his family
is still going to retain a seat at the table
with son Ryan. He'll remain a director to represent the
family's twenty percent steak. They are still a significant shareholder.
Speaker 2 (11:35):
Yeah, it's sort of a bit in this. So Kerry
Stokes back the proposed early yesterday. So it would bring
significant financial and strategic benefits to shareholders. Bit of speculation
about whether it's just a precursor to the Stokes family
getting out of the business. Seven is also the largest
shareholder in Southern Cross's main rival, ARN Media. Now that
(11:59):
has to be sorted out as well. Previously, there's a
lot of talk about Southern Cross Media, which is also
known as SAA Southern Cross Oosteria, merging with Urn Media. However,
we'll have to just sort of see where that one goes.
The deal isn't done. The one of the big shareholders,
which means eleven percent of Suthern Cross from sand and Capital,
(12:21):
doesn't like the proposal, though under the merger document, I
don't think shareholders have to vote on this, so we'll
see how it turns out now.
Speaker 1 (12:29):
Sean Sintel chief executive, alongside Optus chief Stephen Rue, have
blamed OPTAs staff for triple zero outages that have been
linked to four deaths, as Federal Communications Minister Anika Wells
said the company must appoint an independent external advisor to
oversee its business.
Speaker 2 (12:48):
Yuan Kwan Moon was in Australia fronting the media for
the first time since the telco's two outages over the
past eleven days. He said Optus was investigating the cause
of the most recent out ea in New South Wales
on Sunday, but couldn't still well couldn't quite explain what
had happened. A previous outage of Optus's triple zero networks
(13:08):
in four states on September eighteen was, and I quote him,
due to a step that was missed by someone at Optus,
A process issue, a people issue that didn't follow the
proper steps. I do feel end quote. I do feel
sorry for those individuals when you know the boss of
Sintalk comes and says that earlier, Wells spoke to the
Sintel and Optis bosses saying the outages were unacceptable, told
(13:30):
the company to point external advisors to independently assess its
network plans. Nica Wells is very much under pressure from
the opposition on this one, although yesterday Prime Minister Anthony
Alberanezi said he stood behind his communications minister.
Speaker 1 (13:43):
Turning to international news now, Sean and US President Donald
Trump is slapping a one hundred percent tariff on films
made outside of the US, reiterating a threat that he
made earlier this year, and honestly I thought it had
gone away. It made this against the movie industry, potentially
arming the Australian film industry.
Speaker 2 (14:02):
On social media, Trump said, I quote, and this wasn't
his best social media effort yesterday, I think, saying that
the Middle East peace plan was it the best best
plan in civilization?
Speaker 1 (14:16):
Yeah, one of civilization's great days. I think something along
those lines. Yeah.
Speaker 2 (14:20):
Yeah. So anyway, but he also was on social media
about this one hundred percent tariff. I quote our media
making business has been stolen from the United States of
America by other countries, just like stealing candy from a baby.
And mister Trump, who didn't provide details on the tariffs,
has argued that foreign countries I have undermined the US
film industry by using tax incentives to get Hollywood productions
(14:41):
to shoot overseas. Now, of course that has definitely happened
in Australia, there have been tax incentives here. It's unclear
how film tariffs would work. For movies aren't physical goods,
so they don't travel through report so you can just
chuck a tariff on it. So I'm not quite sure
how these ones work. Some of this year's biggest Hollywood reductions,
including Mission Impossible, The Final Reckoning, and Jurassic World Rebirth,
(15:04):
were made primarily or entirely outside the US.
Speaker 1 (15:09):
This one is very confusing, Sean. Finally, the US is
heading towards a government shutdown as Democrats and Republicans appear
to have little appetite really to avoid it.
Speaker 2 (15:21):
Yes, the last stitch meeting between the President and Democrat
leaders in Congress made little progress. If anything, both sides
seem to be digging in deeper according to BBC Vice
president Ja d Van said, I think we're headed to
a shutdown because the Democrats won't do the right thing.
Democrats Senate leader Chuck Schumer said they were still there
were still very large differences between his party and the
(15:43):
White House, which is a bit of an understatement. Really.
Speaker 1 (15:46):
Yeah, seems that Republicans won a short term extension of
current spending levels, essentially just kicking the legislative issue down
the road. They're happy with the way things are going,
particularly since the Trump administration has been implementing so many
spending cuts on it own without the help of Congressional
budget setters.
Speaker 2 (16:04):
And that's really irritated to the Democrats because they're not
getting a say in Congress about what should be cut
and what shouldn't because Donald Trump's just doing it by
executive order. Democrats also want a firm agreement to renew
the government health insurance subsidies for low income individuals that
expire at the end of this year, something the Republicans
have been reluctant to do so far.
Speaker 1 (16:25):
All right, sean massive show today. Up next is The
Fear and Greed Q and A. Today. Your guest is
Innes Willox, who is the chief executive of the Australian
Industry Group.
Speaker 2 (16:35):
It's a great chat because we don't sometimes when you
get industry groups on they start saying, well, the government
needs to do this, that and the other, and this
didn't do that at all. He talks about what business
can do themselves to improve their prospects. I mean, at
the end we touch on government, but it was much
more about businesses being innovative and working in different ways
(16:58):
to actually achieve better outcomes. So it's really quite an
insightful view from my business leader into how businesses need
to operate without relying on government.
Speaker 1 (17:09):
Here any weighs in on the whole social license to
operate as well, which is obviously a critical issue at
the moment for Optus and other companies have been really
subject to that previously as well. It is a great conversation.
It's coming up next in the Fear and Greed playlist
on your podcast platform or at Fearangreed dot com todayu
which is where you sign up for that free daily
newsletter I keep banging on about.
Speaker 2 (17:30):
Thank you Sean, thank you Michael.
Speaker 1 (17:31):
It's Wednesday, the first of October 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 a great day.
Welcome to Fear and Greed business news you can use today.
The Reserve Bank is getting a little more worried about
inflation as it leaves rates on hold. Prime Minister Anthony
Albanezi joins global leaders in welcoming Donald Trump's peace plan
for the Middle East, and Seven West Media to merge
with radio groups Southern Cross Media Plus Optics's owner blames
staff for network outages, and the White House slaps one
(00:29):
hundred percent tariffs on foreign made films. It is Wednesday,
the first of October twenty twenty five. I'm Michael Thompson,
and good morning, Sean Aylmer.
Speaker 2 (00:38):
Good morning, Michael, Sean.
Speaker 1 (00:40):
There's plenty going on. The main story this morning. The
Reserve Bank has sounded a note of caution really about
inflationary pressures wavering and confidence about whether price rises are
in fact under control and really diminishing the chance of
rape cuts later this year.
Speaker 2 (00:56):
At Central Bank yesterday, lift the official cash rate unchanged
at three point six percent and warn than inflation is
on track to overshoot its forecasts. That's bad news. The
board said that the decline in underlying inflation had slowed
since its August meeting. In recent data, while partial and volatile,
suggests inflation might be higher than expected. The board statement
(01:17):
said stronger than expected data on economic growth and inflation
could indicate that households have become more comfortable spending as
real incomes and wealth rise, So that's all good news.
The thing is, though, that means it might be easier
for businesses to pass on high costs to consumers. Preserve VANK.
Governor Michelle Bullock, in a press conference after the meeting,
said she's been surprised about some of the inflation and
(01:38):
growth data, saying that both have been stronger than expected,
noting that services inflation in particular has remained sticky. In
terms of economic growth, she said it's good news and
supports the decision not to cut rates.
Speaker 1 (01:50):
What's the bottom line, then, sean, are we going to
get more rate cuts or are we not going to
get more rate cuts?
Speaker 2 (01:56):
Well, Michelle Bullock says, it's a meeting by meeting proposition.
So let's go to the professional investors. What do they reckon?
They're actually putting money on this. The three year bond
rate rose slightly after the announcement to three point six percent.
Now the cash rate is three point six percent. So
what that means is that bond investors think that on average,
(02:16):
interest rates will stay around the current level on average
for the next three years. They have priced in a
full rate cut by March next year. There might be
a second one after that, but broadly they reckon that.
The Reserve Bank maybe one more rate cut, but that's
about it. The Reserve Bank Board next meets on Melbourne
Cup Day. If the September quarter inflation data which is
(02:39):
released later this month comes in around two and a
half percent, then a rate cut is probably on higher
than that, particularly if that two point seven to two
point eight, all bets are off very appropriate for Melbourne
Cup Day. Michael my tip and it is only my tip.
One more rate cut, maybe two. That'll be over the
next nine months, but then they'll be done.
Speaker 1 (03:00):
Okay, Well, we have seen that. So we've had three
rate cuts already this year and we have seen that
then feeding into the housing market and pushing prices up,
and we are now seeing that in the latest start
from cotality, the housing market heading up September delivering the
strongest monthly rise in national dwelling values since October twenty
twenty three. The Home Value Index from totality jumped zero
(03:24):
point eight percent last month, driven by capital city momentum
and record low listings as well.
Speaker 2 (03:31):
Yes, so if you take a bit of a longer
time frame, because I think that's more helpful. On a
quarterly basis, the national value index is up two point
two percent. In June court it was only one point
five percent. March is one point one percent, so you
can really see that trend happening. Growth has once again
become very broad based, with every capital city and rest
(03:52):
of state region rising. According to cotality, Perth and Brisbane
once again pulling ahead of the larger caps. Their values
are up four and three and a half percent during
that September quarter. If you're interested in you mean Gator
kotalit if you're interested in your own quarter. But I'll
just run through some of the big ones. So Sydney
was up for the quarter two point one percent, Melbourne
(04:13):
one percent. Now we've seen auction clearance rates much higher
in Melbourne, but up one percent. Brisbane and Perth. We
mentioned Adelaide's two and a half percent. Darwin's doing really
well almost six percent for the quarter.
Speaker 1 (04:24):
All right, turning into local markets now, sean equity markets
where do we go yesterday.
Speaker 2 (04:31):
Well, most of the day was waiting to see what
the reserve vank did. By the close, y SMPA six
two hundred was down ever so slightly, eighty four to
nine points. A couple of notables in their IDP education
jumped sixteen percent. Now they didn't say anything, it's just
jumped sixteen percent. This is a stock that was worth
what thirty eight bucks about four years ago. Seven bucks
(04:51):
today had all sorts of issues. Anyway, big jump yesterday.
Star Entertainment resumed trading and Tom Palmer, the boss of Newmont,
the world's top goal Pridge, which is the secondaryist thing
on my AX, will step down at the end of the year.
It's share price, unlike most other gold stocks, yesterday fell.
Speaker 1 (05:08):
Sean, it is Wednesday, which is a great day. Got
that was very Donald Trump, ask, wasn't it? But it
is time for business.
Speaker 2 (05:16):
By numbers, Donald Trump would be the most magnificent day ever,
So understand great day.
Speaker 1 (05:21):
The top three numbers to know for the week, Sean
brought to you by zero zero dot com slash au.
What is our first number?
Speaker 2 (05:29):
Well, I'm going at three point six percent, but not
because that's the official cash rate. It's because that's what
the three year bond rate says, and so, as we mentioned,
professional investors reckon that rates are going to average about
what they are today over the next three years. I
think that's quite interesting.
Speaker 1 (05:51):
I think so it feels like you needed to justify
that just then.
Speaker 2 (05:54):
But no, I did idea at the end. I did
because you know bond rates ever since you say that,
everyone starts glazing over.
Speaker 1 (06:00):
But from what it tells us the long term like
that is very interesting. What's our second number to know
this week?
Speaker 2 (06:07):
Seawan well, thirty eight hundred US dollars an ounce That,
of course is the mark that gold pushed through yesterday,
or actually pushed through a couple of days ago. Quite
phenomenal what gold has done, and silver as well. We
would have put that one in there too. What that's
above forty five US dollars an ounce that's actually outperformed
gold this.
Speaker 1 (06:26):
Year and finally shown our third number is one we
haven't actually covered yet.
Speaker 2 (06:31):
Four hundred and fifteen million dollars the value of a
merger if it succeeds of seven West Media in Southern
Cross Media.
Speaker 1 (06:41):
Why.
Speaker 2 (06:41):
I think that's interesting. These two assets seven West Media
as in Channel seven Southern Cross Media, a bunch of
radio stations. It's actually not that much. Four hundred and
fifteen million dollars. Compare that to the value of Commonwealth
Bank at what two hundred and thirty billion dollars. There
you go, Yeah, really good point.
Speaker 1 (07:00):
All right. They are the top three numbers to know
for the week. Brought to you by zero Sewn a
quick break. We'll be back in a moment with the
rest of the day's business news. Sean Prime Minister Anthony
Abernezi says Australia welcomes US President Donald Trump's plan for
a peace deal in Gaza, highlighting that Trump's plan would
(07:23):
exclude Hermas from future governance in Gaza.
Speaker 2 (07:27):
The Prime Minister called on Hamas to lay down its
weapons and release its remaining Israeli hostages, and commended the
plan's focus on a Palestinian self determination and statehood, adding
that the plan reflects a clear rejection of annexation and
the forced displacement of Palestinians. Albanezi added that Australia urges
all parties to engage seriously with the plan to work
to being its vision into reality without delay. He wasn't
(07:50):
alone global leaders from Muslim countries to Western democracies have
all at least given lukewarm support. Now we are waiting
on the Palestine to hear exactly what it says, though
Benjamin Attnahu, the Israeli Prime Minister, has also kind of
given tentative support at this point.
Speaker 1 (08:11):
Yeah, so broadly we can say that it has been welcomed,
but in most cases it's on the proviso that it
is followed, and there's a fair bit to it.
Speaker 2 (08:19):
Yeah. So in short, the plan begins with the immediate
cessation of military operations and says existing battle lines would
be frozen in place until conditions are met fray stage
to withdrawal of Israel, that is Hamas would lay down
its arms, and its tunnels and weapon production facilities would
be destroyed. For every Israeli hostage whose remains are released
over the next seventy two hours, that's dead end alive.
(08:42):
Israel will release the remains of fifteen Gazans, the plan says.
The plan also stipulates that once both sides agreed to
the proposal, full aid will be immediately sent into the
Gaza strip. Now, what's interesting in this one, and you
were talking about this yesterday in the afternoon report, Michael
is the idea of the future governance of Gaza. So
a technocratic, apolitical Palestinian committee will governed temporarily with oversight
(09:07):
and supervision by a new international transition body called the
Board of Peace. The chair will be Donald Trump.
Speaker 1 (09:14):
Yeah, and even Tony Blair would be part of their
former UK PM. So it does feel like it is
a very international solution. But yeah, we'll wait and see
what the Palestinian response is to this now. Sean staying
with the Prime Minister Albanese says the Orcast Pact has
been meeting its milestones and is delivering in the interests
(09:36):
of all parties. Amid a report that indicated the deal
will in fact clear a review by the Pentagon in
time for Albanese's trip to the US this month.
Speaker 2 (09:45):
Yeah. So. His comments followed a report in Nickai Asia
that said the sale of US submarines to Australia under
the Orchest Pact had been endorsed by the Pentagon. US
officials told Nicky Asia that the review will be finalized
before the PM visits the White House on Octant over twenty.
When asked about the report, Albanezy said The Orchest review
remains ongoing, but it's been a constructive process. The Pentagon
(10:07):
Review of AUCAS wants to ensure the sale of US
subs to Australia is part of AUCUST doesn't diminish US
military capacity. That's basically what it's about. Just a reminder,
Australia will spend three hundred and sixty eight billion dollars
over the next thirty years to buy eight nuclear powered
Virginia Class subs.
Speaker 1 (10:23):
We mentioned this next one in our Business by Numbers
segment before Shawn, but seven West Media plans to merge
with Australia's biggest radio company, Southern Cross Media, to create
a four hundred and fifteen million dollar television, radio and
publishing group, and as part of the deal, Kerry Stokes,
the founder of the Seven Network, he would exit.
Speaker 2 (10:43):
The didn't think that would ever happen. Southern Cross owns
the Triple M Network as well as the Hit Network,
which includes stations such as Melbourne's The Fox. Seven owns
the West Australian newspaper The Seven Network that of course
has AFL and cricket broadcast rights. The share swap will
result in such Than Cross controlling the combined business with
fifty point one percent sake. Seven shareholders will own forty
(11:06):
nine point nine percent. The deal, which is subject to
regulatory approval, is expected to be completed by early next year.
Speaker 1 (11:13):
I mentioned Kerry Stokes there. He is the chair of Seven,
He's eighty five years old. Here is its biggest investor.
He's going to step down from the merged company's board
in February if it all goes through, but his family
is still going to retain a seat at the table
with son Ryan. He'll remain a director to represent the
family's twenty percent steak. They are still a significant shareholder.
Speaker 2 (11:35):
Yeah, it's sort of a bit in this. So Kerry
Stokes back the proposed early yesterday. So it would bring
significant financial and strategic benefits to shareholders. Bit of speculation
about whether it's just a precursor to the Stokes family
getting out of the business. Seven is also the largest
shareholder in Southern Cross's main rival, ARN Media. Now that
(11:59):
has to be sorted out as well. Previously, there's a
lot of talk about Southern Cross Media, which is also
known as SAA Southern Cross Oosteria, merging with Urn Media. However,
we'll have to just sort of see where that one goes.
The deal isn't done. The one of the big shareholders,
which means eleven percent of Suthern Cross from sand and Capital,
(12:21):
doesn't like the proposal, though under the merger document, I
don't think shareholders have to vote on this, so we'll
see how it turns out now.
Speaker 1 (12:29):
Sean Sintel chief executive, alongside Optus chief Stephen Rue, have
blamed OPTAs staff for triple zero outages that have been
linked to four deaths, as Federal Communications Minister Anika Wells
said the company must appoint an independent external advisor to
oversee its business.
Speaker 2 (12:48):
Yuan Kwan Moon was in Australia fronting the media for
the first time since the telco's two outages over the
past eleven days. He said Optus was investigating the cause
of the most recent out ea in New South Wales
on Sunday, but couldn't still well couldn't quite explain what
had happened. A previous outage of Optus's triple zero networks
(13:08):
in four states on September eighteen was, and I quote him,
due to a step that was missed by someone at Optus,
A process issue, a people issue that didn't follow the
proper steps. I do feel end quote. I do feel
sorry for those individuals when you know the boss of
Sintalk comes and says that earlier, Wells spoke to the
Sintel and Optis bosses saying the outages were unacceptable, told
(13:30):
the company to point external advisors to independently assess its
network plans. Nica Wells is very much under pressure from
the opposition on this one, although yesterday Prime Minister Anthony
Alberanezi said he stood behind his communications minister.
Speaker 1 (13:43):
Turning to international news now, Sean and US President Donald
Trump is slapping a one hundred percent tariff on films
made outside of the US, reiterating a threat that he
made earlier this year, and honestly I thought it had
gone away. It made this against the movie industry, potentially
arming the Australian film industry.
Speaker 2 (14:02):
On social media, Trump said, I quote, and this wasn't
his best social media effort yesterday, I think, saying that
the Middle East peace plan was it the best best
plan in civilization?
Speaker 1 (14:16):
Yeah, one of civilization's great days. I think something along
those lines. Yeah.
Speaker 2 (14:20):
Yeah. So anyway, but he also was on social media
about this one hundred percent tariff. I quote our media
making business has been stolen from the United States of
America by other countries, just like stealing candy from a baby.
And mister Trump, who didn't provide details on the tariffs,
has argued that foreign countries I have undermined the US
film industry by using tax incentives to get Hollywood productions
(14:41):
to shoot overseas. Now, of course that has definitely happened
in Australia, there have been tax incentives here. It's unclear
how film tariffs would work. For movies aren't physical goods,
so they don't travel through report so you can just
chuck a tariff on it. So I'm not quite sure
how these ones work. Some of this year's biggest Hollywood reductions,
including Mission Impossible, The Final Reckoning, and Jurassic World Rebirth,
(15:04):
were made primarily or entirely outside the US.
Speaker 1 (15:09):
This one is very confusing, Sean. Finally, the US is
heading towards a government shutdown as Democrats and Republicans appear
to have little appetite really to avoid it.
Speaker 2 (15:21):
Yes, the last stitch meeting between the President and Democrat
leaders in Congress made little progress. If anything, both sides
seem to be digging in deeper according to BBC Vice
president Ja d Van said, I think we're headed to
a shutdown because the Democrats won't do the right thing.
Democrats Senate leader Chuck Schumer said they were still there
were still very large differences between his party and the
(15:43):
White House, which is a bit of an understatement. Really.
Speaker 1 (15:46):
Yeah, seems that Republicans won a short term extension of
current spending levels, essentially just kicking the legislative issue down
the road. They're happy with the way things are going,
particularly since the Trump administration has been implementing so many
spending cuts on it own without the help of Congressional
budget setters.
Speaker 2 (16:04):
And that's really irritated to the Democrats because they're not
getting a say in Congress about what should be cut
and what shouldn't because Donald Trump's just doing it by
executive order. Democrats also want a firm agreement to renew
the government health insurance subsidies for low income individuals that
expire at the end of this year, something the Republicans
have been reluctant to do so far.
Speaker 1 (16:25):
All right, sean massive show today. Up next is The
Fear and Greed Q and A. Today. Your guest is
Innes Willox, who is the chief executive of the Australian
Industry Group.
Speaker 2 (16:35):
It's a great chat because we don't sometimes when you
get industry groups on they start saying, well, the government
needs to do this, that and the other, and this
didn't do that at all. He talks about what business
can do themselves to improve their prospects. I mean, at
the end we touch on government, but it was much
more about businesses being innovative and working in different ways
(16:58):
to actually achieve better outcomes. So it's really quite an
insightful view from my business leader into how businesses need
to operate without relying on government.
Speaker 1 (17:09):
Here any weighs in on the whole social license to
operate as well, which is obviously a critical issue at
the moment for Optus and other companies have been really
subject to that previously as well. It is a great conversation.
It's coming up next in the Fear and Greed playlist
on your podcast platform or at Fearangreed dot com todayu
which is where you sign up for that free daily
newsletter I keep banging on about.
Speaker 2 (17:30):
Thank you Sean, thank you Michael.
Speaker 1 (17:31):
It's Wednesday, the first of October 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 a great day.
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