November 16, 2025 • 17 mins
Monday 17 November 2025
An independent review into ANZ is highly critical of the major bank, unveiling governance and staff problems that were criticised at the Banking Royal Commission.
- BHP is found legally liable for one of the worst environmental disasters in Brazil.
- The coalition launches its technology agnostic energy plan.
- Donald Trump cuts tariffs on beef but it's bad news for local graziers.
- Scientists discover a new native bee species.
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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.
An independent review into A and Z is highly critical
of the major bank, unveiling governance and staff problems that
were criticized at the Banking Royal Commission. BHP is found
legally liable for one of the worst environmental disasters in Brazil,
and the coalition launches its technology agnostic Energy plan. Plus,
(00:29):
Donald Trump cuts tariffs on beef, but it's bad news
for local graziers and scientists discover a new native B species.
It is Monday, the seventeenth of November twenty twenty five.
I'm Michael Thompson, and good morning Sean Aylmer.
Speaker 2 (00:43):
Can you not be happy when there's a new B
species discovered.
Speaker 1 (00:49):
And the name of the B species?
Speaker 2 (00:50):
It's worth you just your practice on that, because I
must say I write that part of the script this morning,
and I gave you the hard stuff.
Speaker 1 (00:58):
Oh it's great. It is for I can't wait to
talk about that a little bit later on the main
story though this morning, Shan. An independent review into A
and Z is highly critical of the bank's former leadership
and culture since the Banking Royal Commission, saying that it's
an insular institution where staff are reluctant to challenge and
deliver bad news.
Speaker 2 (01:19):
Yeah, it is remarkable this story. The McKinsey report was
prepared for ane Z after it was hit by a
series of scandals which led to a two hundred and
forty million dollar fine for widespread misconduct. It was released
on Friday afternoon late on Friday afternoon. In a blistering
assessment of former chief executive Chane Elliott, the report said
(01:40):
ain Z had lacked a tone from the top and
found that Australia's fourth largest bank had failed to create
a risk and customer focus culture while its employees were
complacent when problems arose. It identified that the bank was
so collaborative and trusting that there was a reluctance to
challenge and deliver bad news, and in turn this led
(02:00):
to complacency and limited self reflection and insular culture. These
failings were compounded by a failure of leadership to set
the right tone to highlight the importance of non financial risk.
Many of the problems identified by McKinsey were very similar
to those uncovered at Comwealth Bank in twenty eighteen in
a prudential inquiry following a money laundering scandal. They're also
(02:23):
very similar to those evident in the Banking Royal Commission
six years ago.
Speaker 1 (02:29):
Yeah, that's the worst part of this, right, because it
does all sound familiar, which is disappointing given we had
a Banking Royal Commission to not only work out what
was going on in the banking system, but also critically
to prevent it from happening again.
Speaker 2 (02:44):
Yes, yes, yeah. And as an aside, can I just
say Ain's put out the McKinsey report late on Friday.
It's not easily accessible, so I chased around on the
website to try and find where it was. It's like
they're hiding it. I mean, as a result, I've had
to rely on reporting from the finn Review, the Australian
Ruters and others for this story. So it just it
(03:04):
doesn't seem that ain Zed really wants to make this
too public. Now I digress.
Speaker 1 (03:08):
Maybe that's just me, but it is.
Speaker 2 (03:11):
The reality. The irony is that of the Big four banks,
ain Z really came through the Banking Royal Commission least scathed.
Maybe that was a bad thing for the bank because
it appears to have done least in terms of changing
the culture. At least according to the McKinsey's report, there
were governance failures and staff only gave their bosses the
(03:33):
good news. There was a failure to highlight the importance
of non financial risk. Projects would start, then there'd be
cost cutting, and the projects would just be left incomplete,
sitting there. Money was spent on tech, but not on
training the humans who actually used to use that tech. Now,
the new CEO, nnoon Matos said it will take time
(03:53):
to change the culture. Given the depth of the problems here, Michael,
it is probably going to take a lot of time
to change the culture. It'll be very interesting to see
how ain Z's share price does when it opens today.
Of course, it went ex dividend last Friday, so it
dropped five percent.
Speaker 1 (04:10):
Anyway, It'll just be.
Speaker 2 (04:11):
Interesting to see. Given they really released this report at
the end of the day, you know what happens today.
Speaker 1 (04:19):
The timing of it, though, probably works quite well in
terms of Nunomatos, just not the timing of releasing the report,
but the fact that here we have a new CEO
and effectively a blueprint as to what to do to change.
If you're going to implement wide scale change, you do
it now right totally. And we've said this about Nunomatos before.
He's three and a half thousand job cuts. He's announced
(04:40):
that he talked about the cultural issues.
Speaker 2 (04:43):
In the bank, and you know, basically they're blaming Change Elliott,
the former CEO, for a lot of this stuff. That's
kind of what a new CEO does. I think that
irks me, though, Michael. They put it out on a
Friday night, Yeah, you know. I mean I went to
their website to find the review. It's not obviously available
on their website. It might be, but I couldn't find it,
(05:04):
and certainly search of the own z website to allow
it to me. Consumably they have to put something to
the market this morning, but it just looks like they're
hiding things and that ain't a good look.
Speaker 1 (05:14):
It's not a good look at all, all right now.
Sewan BHP has been found legally liable for one of
the worst environmental disasters in the history of Brazil in
a landmark case brought in the UK over the twenty
fifteen Marianna Da Dam collapse.
Speaker 2 (05:30):
Over the weekend. The High Court in London ruled that
the risk of these structure's collapse had been foreseeable important
word foreseeable, and that BHP, the world's biggest mining company,
was strictly liable for damage cause to the environment and
to third parties. BHP said it intends to appeal the judgment.
It's already entered into a thirty two billion US dollar
(05:50):
agreement with brazil Public Authority or Brazilian Public Authorities and
public defenders for a full and final settlement of key claims.
That more than six hundred and ten one thousand people
have already been compensated in Brazil, so BHP is basically
say this is already over. However, the decision on the
weekend really does have a big impact on the company.
(06:12):
Lawyers acting on behalf of more than six hundred and
twenty thousand alleged victims are seeking up to thirty six
billion pounds that's about seventy two billion Aussie dollars in
compensation from BHP and Brazilian minor Valet, which jointly owned
the Samaco Iron Ore project where where the incident occurred.
That is asked to kill nineteen people when sludge was
(06:32):
released from behind the waist dam at the facility. According
to the Financial Times, hundreds of kilometers of waterways were contaminated,
swamping riverside communities. The ruling sets the stage for compensation,
which will be decided in a later High Court trial
schedule to begin next October. BHP and Vallet have already
agreed to split any sum's due.
Speaker 1 (06:54):
Now, looking at the share market, Shawn, you alluded to
seeing what happens with A and Z today when the
market opened, but there was a big sell off overall
on the ASEX on Friday, the S and PASX two
hundred closing down one point four percent, the equivalent of
thirty seven billion dollars, to its lowest points since mid July.
What do you reckon? Can we expect more of the
same today?
Speaker 2 (07:13):
Future training suggests local boss will open lower after a
flat end on Wall Street over the weekend. Basically, investors
that are trying to come to terms with the idea
that interest rates might not fall again in Australia, they
might not fall again in the US. What's that mean
for earnings cryptocurrencies? That's worth mentioning they're flailing bitcoins down
to ninety five thousand dollars a unit, meaning the currencies
(07:35):
back to about where it started the beginning of the
year from remember early in the year that there was
a ruling in the US which encouraged ETF buying of cryptocurrencies.
All that gain has sort of come off now. In fact,
it's about twenty four percent below it's October record. Bitcoins
will be interesting to watch that one as well.
Speaker 1 (07:56):
When we're talking about markets, there's a lot of different
words that we use, lummiting or plunging or tumbling and
things like that. I reckon this is the first time
that we've referred to anything as flailing.
Speaker 2 (08:09):
Well, to be honest, journalists financial journalists always talk about
the share prices plunging sort of the adjectives are a
little too much for me at times. Yeah, but flailing
playing is a really good word because it's not like
a disaster. It's just like trying to hold your place
(08:31):
in sort of not getting.
Speaker 1 (08:32):
There, scrambling a bit.
Speaker 2 (08:34):
Yeah, yeah, yeah, yeah, yeah.
Speaker 1 (08:36):
I like it flailing. It's a very colorful way to
describe it, and it seems perfectly appropriate for bitcoin, to
be honest, So think well that much, right, take a
quick break back in a moment with the rest of
the day's business news. SUN The Coalition has launched a
quote technology agnostic energy plan, which includes more or gas
(09:00):
but is not anti renewables, according to Liberal leader Susan Lee.
Speaker 2 (09:05):
Lee, Shadow Energy Minister Dan Tien and National's leader David
little Proud held a joint press conference last evening selling
the coalition's affordable energy planned. The coalition leader said the
government had demonized gas and reluctantly come back to it
in recent years because they know it's for vital Asked
when consumers could start seeing cheaper power under a future
(09:25):
coalition government, Lee said, well, the Coalition actually needs to
get into power first and then that start changing the rules.
She said the Coalition was not anti renewables, but they
have to be in the right place and they have
to be balanced by base base load power. Little Prowd
said net zero is not the only way to address
climate change and for Australia to do its fair share
(09:46):
with regards to emissions, it doesn't have to be signed
up to a net zero target.
Speaker 1 (09:51):
Sean. It's worth a quick mention of the latest poll
results which are out today in the Financial Review. The
Redbridge Accent Research poll shows that after all of the
chaos within the Coalition over the last few weeks, the
coalition's primary vote fell five percentage points in one month,
a record low of twenty four percent, with one nation
(10:13):
rising four points to record high of eighteen so one
nation that is actually on the verge of overtaking the coalition,
which is quite extraordinary. The Alberaneze government sean as moving
to deport a man who attended a neo Nazi rally
outside the New South Wales Parliament last week, a rally
where men dressed in black held up an anti Jewish
(10:35):
banner and chanted a Hitler youth slogan.
Speaker 2 (10:38):
Anyone that lives in Sydney or perhaps in New South
Wales knows a lot about this is pretty abysmal. The
rally was organized by the National Socialist Network and intended
by about sixty men who shouted the slogan blood and Honor.
Now blood and Honor is a band phrase in Germany
because it was a central slogan for the banned Hitler Youth.
The federal government is preparing a ministerial brief that would
(10:59):
allow for one of the attendees, South African Matthew Grutter
gr u t Er, to be deported for participating in
the rally. According to media reports, the brief is expected
to be considered by either Home Affairs Minister Tony Burke
or one of two assistant ministers, Julian Hill or Matthew Thistlewait.
New South Wales police have come under fire for allowing
(11:21):
the rally to go ahead, while two politicians, state MP
Kelly Sloan and Federal MP Allegal Spender faced death threats
after making comments about the rally.
Speaker 1 (11:32):
A change of pace. Now, Sean, it is time to
talk bees. We alluded to this at the top of
the show. Scientists have discovered a new native B species
with tiny horns as you do, and they've given it
the extremely appropriate name. And I had to look up
how to pronounce this and do you know where the
(11:53):
place for all b news is? Of course the BBC,
of course sure, And so I watched a BBC report
and they referred to it as mega child lucifer, which, yeah,
I was surprised by Mega child me G A C
H I L E.
Speaker 2 (12:12):
You'd expect a little more exotic pronunciation instead of phonetic.
Speaker 1 (12:18):
It's an Aussie B, so it's not going to be true.
That's true.
Speaker 2 (12:23):
Research has found the bee while observing a rare wildflower
that only grows in the Bremer Ranges in Western Australia's
Goldfields region, about five hundred kilometers east of Perth. The
highly distinctive, prominent horns are only on the female bee
and may be used as a defense mechanism, to gather
pollen or nectar, or to collect materials such as resin finesse.
(12:48):
According to the report on the BBC, the studies lead scientist,
doctor Kit Prantagast from Curtin University said she was inspired
to use the name Lucifer as she was watching the
net show the same name at the time. So it
had sort of those horns, so why not call it lucifer?
Speaker 1 (13:08):
You know what? The best part of this is that
this is not the first be that doctor Kit Prendergast
has actually discovered that she's actually found another one. This
is the second one. The first one she named with
its long kind of scientific name, and the key component
of that was Zephyr, so it was like zephyrrell or
(13:30):
something or other, and that was because her dog's name
is Zephyr and if she named it after her dog,
so she has got a flair for naming wow newly
discovered species.
Speaker 2 (13:41):
This one, the Lucifer, is the first new member of
the B Group in twenty years. So if that's the case,
kit you go ahead, you name them whatever you want,
go for it, especially if you're discovering them.
Speaker 1 (13:49):
You've got the right to do it. If you want
to name one after fear and Greed, we'd be very appreciative.
The Alma stick insect.
Speaker 2 (14:00):
More of the Thompson sticking sequence that you more.
Speaker 1 (14:02):
Yeah, probably turning to international news now, and President Donald
Trump has provided a thinly veiled warning to Republicans speaking
out against him. Keep it up and you'll lose your endorsement.
Speaker 2 (14:14):
Yes, there wasn't much subtle about it at all. At
the center of the current Frakkha is Georgian Congresswoman Marjorie
Taylor Green. She's been an ardent Trump supporter, but the
Jeffrey Epstein case has turned her against Trump, and the
president is not happy. Green has escalated her criticism of
Trump's focus on foreign policy over what she has said
(14:37):
should be an agenda that concentrates on Americans as well
as local Americans and cost of living. She's not happy
about his reluctance to release more documents involving Epstein. Over
the weekend, Trump said he would support a primary challenge
against Green. In fact on truth socially said, I quote
all I see wacky Marjorie do is complain, complain, complain
(15:00):
reading caps. Of course, I understand that wonderful conservative people
are thinking about primary primarying that's a funny word, primary
Marjorie in her district of Georgia, that they too are
fed up with her and her antics, and if the
right person runs, they will have my complete and unyielding support.
Now Green isn't backing down, and the one time MAGA
fan club leader is causing disquite among supporters of Trump.
(15:24):
What this really does? It sort of threatens to expand
the cracks in the movement. Is a maga movement? Want
to know a lot about Jeffrey Epstein and the files
on them. Now Donald Trump has ordered the Department of
Justice to look into Democrat people involved with Epstein. Clinton
being one, Bill Clinton, Larry Summers being another. But the Maga,
(15:45):
they crown, they want more, and she is very much
Marjory Tyler Green is very much at the center of that.
Speaker 1 (15:51):
Okay, just while on Trump, somewhat paradoxically, sean Australian graziers
will be disappointed that the President cut tariffs on beef
over the weekend.
Speaker 2 (16:02):
Yes, Trump has immediately removed tariffs on hundreds of product categories,
including beef, fruits, coffee, nuts, spices, and moved aimed at
lowering costs on groceries. Australian beef exports, though they've surged
as a result of a tariff advantage against rival producers.
So Brazil has a fifty percent tariff on it, New
Zealand of fifteen percent tariff, Australia just ten percent. Sales
(16:24):
of beef, Australia's largest export to the US, hit one
point six billion dollars in three months two September, a
twenty six percent jump. While Trade Minister Don Farrell welcomed
the removal of tariffs, generally, local grociers might not be
so happy, mind you. The US Kalman, they're not real happy.
They're struggling with drought and tariffs on their inputs such
(16:44):
as farm equipment and fertilizer used to grow feed. Those
farmers are also very upset about Trump's Baiale out of Argentina.
That dealing included increased beef exports to the US's lower prices.
All in all, he's got a few problems here because
he's the cattleman. Are conservatives of course, so this issue
there Australia. Ironically, our farmers less happy about the reduction
(17:09):
in tariffs.
Speaker 1 (17:10):
All right, Up next is Fear and Greed Q and A.
It is the week ahead and he's back. Sean Stephen
could coolis the kook is back on deck. He's had
six weeks off swanning around Italy having a great time,
but he is back. Goodness me. There was a bit
going on in the economy while he was away and
he's jumping straight back into it. We're looking at wages data,
(17:32):
we're looking at everything that came out last week and
his take on interest rates. All of that coming up
next to the Fear and Greed playlist on your podcast
platform or at Fearangreed dot com dot au. Thank you
very much, Sean.
Speaker 2 (17:42):
Thanks Michael.
Speaker 1 (17:43):
It's Monday, the seventeenth of November 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.
An independent review into A and Z is highly critical
of the major bank, unveiling governance and staff problems that
were criticized at the Banking Royal Commission. BHP is found
legally liable for one of the worst environmental disasters in Brazil,
and the coalition launches its technology agnostic Energy plan. Plus,
(00:29):
Donald Trump cuts tariffs on beef, but it's bad news
for local graziers and scientists discover a new native B species.
It is Monday, the seventeenth of November twenty twenty five.
I'm Michael Thompson, and good morning Sean Aylmer.
Speaker 2 (00:43):
Can you not be happy when there's a new B
species discovered.
Speaker 1 (00:49):
And the name of the B species?
Speaker 2 (00:50):
It's worth you just your practice on that, because I
must say I write that part of the script this morning,
and I gave you the hard stuff.
Speaker 1 (00:58):
Oh it's great. It is for I can't wait to
talk about that a little bit later on the main
story though this morning, Shan. An independent review into A
and Z is highly critical of the bank's former leadership
and culture since the Banking Royal Commission, saying that it's
an insular institution where staff are reluctant to challenge and
deliver bad news.
Speaker 2 (01:19):
Yeah, it is remarkable this story. The McKinsey report was
prepared for ane Z after it was hit by a
series of scandals which led to a two hundred and
forty million dollar fine for widespread misconduct. It was released
on Friday afternoon late on Friday afternoon. In a blistering
assessment of former chief executive Chane Elliott, the report said
(01:40):
ain Z had lacked a tone from the top and
found that Australia's fourth largest bank had failed to create
a risk and customer focus culture while its employees were
complacent when problems arose. It identified that the bank was
so collaborative and trusting that there was a reluctance to
challenge and deliver bad news, and in turn this led
(02:00):
to complacency and limited self reflection and insular culture. These
failings were compounded by a failure of leadership to set
the right tone to highlight the importance of non financial risk.
Many of the problems identified by McKinsey were very similar
to those uncovered at Comwealth Bank in twenty eighteen in
a prudential inquiry following a money laundering scandal. They're also
(02:23):
very similar to those evident in the Banking Royal Commission
six years ago.
Speaker 1 (02:29):
Yeah, that's the worst part of this, right, because it
does all sound familiar, which is disappointing given we had
a Banking Royal Commission to not only work out what
was going on in the banking system, but also critically
to prevent it from happening again.
Speaker 2 (02:44):
Yes, yes, yeah. And as an aside, can I just
say Ain's put out the McKinsey report late on Friday.
It's not easily accessible, so I chased around on the
website to try and find where it was. It's like
they're hiding it. I mean, as a result, I've had
to rely on reporting from the finn Review, the Australian
Ruters and others for this story. So it just it
(03:04):
doesn't seem that ain Zed really wants to make this
too public. Now I digress.
Speaker 1 (03:08):
Maybe that's just me, but it is.
Speaker 2 (03:11):
The reality. The irony is that of the Big four banks,
ain Z really came through the Banking Royal Commission least scathed.
Maybe that was a bad thing for the bank because
it appears to have done least in terms of changing
the culture. At least according to the McKinsey's report, there
were governance failures and staff only gave their bosses the
(03:33):
good news. There was a failure to highlight the importance
of non financial risk. Projects would start, then there'd be
cost cutting, and the projects would just be left incomplete,
sitting there. Money was spent on tech, but not on
training the humans who actually used to use that tech. Now,
the new CEO, nnoon Matos said it will take time
(03:53):
to change the culture. Given the depth of the problems here, Michael,
it is probably going to take a lot of time
to change the culture. It'll be very interesting to see
how ain Z's share price does when it opens today.
Of course, it went ex dividend last Friday, so it
dropped five percent.
Speaker 1 (04:10):
Anyway, It'll just be.
Speaker 2 (04:11):
Interesting to see. Given they really released this report at
the end of the day, you know what happens today.
Speaker 1 (04:19):
The timing of it, though, probably works quite well in
terms of Nunomatos, just not the timing of releasing the report,
but the fact that here we have a new CEO
and effectively a blueprint as to what to do to change.
If you're going to implement wide scale change, you do
it now right totally. And we've said this about Nunomatos before.
He's three and a half thousand job cuts. He's announced
(04:40):
that he talked about the cultural issues.
Speaker 2 (04:43):
In the bank, and you know, basically they're blaming Change Elliott,
the former CEO, for a lot of this stuff. That's
kind of what a new CEO does. I think that
irks me, though, Michael. They put it out on a
Friday night, Yeah, you know. I mean I went to
their website to find the review. It's not obviously available
on their website. It might be, but I couldn't find it,
(05:04):
and certainly search of the own z website to allow
it to me. Consumably they have to put something to
the market this morning, but it just looks like they're
hiding things and that ain't a good look.
Speaker 1 (05:14):
It's not a good look at all, all right now.
Sewan BHP has been found legally liable for one of
the worst environmental disasters in the history of Brazil in
a landmark case brought in the UK over the twenty
fifteen Marianna Da Dam collapse.
Speaker 2 (05:30):
Over the weekend. The High Court in London ruled that
the risk of these structure's collapse had been foreseeable important
word foreseeable, and that BHP, the world's biggest mining company,
was strictly liable for damage cause to the environment and
to third parties. BHP said it intends to appeal the judgment.
It's already entered into a thirty two billion US dollar
(05:50):
agreement with brazil Public Authority or Brazilian Public Authorities and
public defenders for a full and final settlement of key claims.
That more than six hundred and ten one thousand people
have already been compensated in Brazil, so BHP is basically
say this is already over. However, the decision on the
weekend really does have a big impact on the company.
(06:12):
Lawyers acting on behalf of more than six hundred and
twenty thousand alleged victims are seeking up to thirty six
billion pounds that's about seventy two billion Aussie dollars in
compensation from BHP and Brazilian minor Valet, which jointly owned
the Samaco Iron Ore project where where the incident occurred.
That is asked to kill nineteen people when sludge was
(06:32):
released from behind the waist dam at the facility. According
to the Financial Times, hundreds of kilometers of waterways were contaminated,
swamping riverside communities. The ruling sets the stage for compensation,
which will be decided in a later High Court trial
schedule to begin next October. BHP and Vallet have already
agreed to split any sum's due.
Speaker 1 (06:54):
Now, looking at the share market, Shawn, you alluded to
seeing what happens with A and Z today when the
market opened, but there was a big sell off overall
on the ASEX on Friday, the S and PASX two
hundred closing down one point four percent, the equivalent of
thirty seven billion dollars, to its lowest points since mid July.
What do you reckon? Can we expect more of the
same today?
Speaker 2 (07:13):
Future training suggests local boss will open lower after a
flat end on Wall Street over the weekend. Basically, investors
that are trying to come to terms with the idea
that interest rates might not fall again in Australia, they
might not fall again in the US. What's that mean
for earnings cryptocurrencies? That's worth mentioning they're flailing bitcoins down
to ninety five thousand dollars a unit, meaning the currencies
(07:35):
back to about where it started the beginning of the
year from remember early in the year that there was
a ruling in the US which encouraged ETF buying of cryptocurrencies.
All that gain has sort of come off now. In fact,
it's about twenty four percent below it's October record. Bitcoins
will be interesting to watch that one as well.
Speaker 1 (07:56):
When we're talking about markets, there's a lot of different
words that we use, lummiting or plunging or tumbling and
things like that. I reckon this is the first time
that we've referred to anything as flailing.
Speaker 2 (08:09):
Well, to be honest, journalists financial journalists always talk about
the share prices plunging sort of the adjectives are a
little too much for me at times. Yeah, but flailing
playing is a really good word because it's not like
a disaster. It's just like trying to hold your place
(08:31):
in sort of not getting.
Speaker 1 (08:32):
There, scrambling a bit.
Speaker 2 (08:34):
Yeah, yeah, yeah, yeah, yeah.
Speaker 1 (08:36):
I like it flailing. It's a very colorful way to
describe it, and it seems perfectly appropriate for bitcoin, to
be honest, So think well that much, right, take a
quick break back in a moment with the rest of
the day's business news. SUN The Coalition has launched a
quote technology agnostic energy plan, which includes more or gas
(09:00):
but is not anti renewables, according to Liberal leader Susan Lee.
Speaker 2 (09:05):
Lee, Shadow Energy Minister Dan Tien and National's leader David
little Proud held a joint press conference last evening selling
the coalition's affordable energy planned. The coalition leader said the
government had demonized gas and reluctantly come back to it
in recent years because they know it's for vital Asked
when consumers could start seeing cheaper power under a future
(09:25):
coalition government, Lee said, well, the Coalition actually needs to
get into power first and then that start changing the rules.
She said the Coalition was not anti renewables, but they
have to be in the right place and they have
to be balanced by base base load power. Little Prowd
said net zero is not the only way to address
climate change and for Australia to do its fair share
(09:46):
with regards to emissions, it doesn't have to be signed
up to a net zero target.
Speaker 1 (09:51):
Sean. It's worth a quick mention of the latest poll
results which are out today in the Financial Review. The
Redbridge Accent Research poll shows that after all of the
chaos within the Coalition over the last few weeks, the
coalition's primary vote fell five percentage points in one month,
a record low of twenty four percent, with one nation
(10:13):
rising four points to record high of eighteen so one
nation that is actually on the verge of overtaking the coalition,
which is quite extraordinary. The Alberaneze government sean as moving
to deport a man who attended a neo Nazi rally
outside the New South Wales Parliament last week, a rally
where men dressed in black held up an anti Jewish
(10:35):
banner and chanted a Hitler youth slogan.
Speaker 2 (10:38):
Anyone that lives in Sydney or perhaps in New South
Wales knows a lot about this is pretty abysmal. The
rally was organized by the National Socialist Network and intended
by about sixty men who shouted the slogan blood and Honor.
Now blood and Honor is a band phrase in Germany
because it was a central slogan for the banned Hitler Youth.
The federal government is preparing a ministerial brief that would
(10:59):
allow for one of the attendees, South African Matthew Grutter
gr u t Er, to be deported for participating in
the rally. According to media reports, the brief is expected
to be considered by either Home Affairs Minister Tony Burke
or one of two assistant ministers, Julian Hill or Matthew Thistlewait.
New South Wales police have come under fire for allowing
(11:21):
the rally to go ahead, while two politicians, state MP
Kelly Sloan and Federal MP Allegal Spender faced death threats
after making comments about the rally.
Speaker 1 (11:32):
A change of pace. Now, Sean, it is time to
talk bees. We alluded to this at the top of
the show. Scientists have discovered a new native B species
with tiny horns as you do, and they've given it
the extremely appropriate name. And I had to look up
how to pronounce this and do you know where the
(11:53):
place for all b news is? Of course the BBC,
of course sure, And so I watched a BBC report
and they referred to it as mega child lucifer, which, yeah,
I was surprised by Mega child me G A C
H I L E.
Speaker 2 (12:12):
You'd expect a little more exotic pronunciation instead of phonetic.
Speaker 1 (12:18):
It's an Aussie B, so it's not going to be true.
That's true.
Speaker 2 (12:23):
Research has found the bee while observing a rare wildflower
that only grows in the Bremer Ranges in Western Australia's
Goldfields region, about five hundred kilometers east of Perth. The
highly distinctive, prominent horns are only on the female bee
and may be used as a defense mechanism, to gather
pollen or nectar, or to collect materials such as resin finesse.
(12:48):
According to the report on the BBC, the studies lead scientist,
doctor Kit Prantagast from Curtin University said she was inspired
to use the name Lucifer as she was watching the
net show the same name at the time. So it
had sort of those horns, so why not call it lucifer?
Speaker 1 (13:08):
You know what? The best part of this is that
this is not the first be that doctor Kit Prendergast
has actually discovered that she's actually found another one. This
is the second one. The first one she named with
its long kind of scientific name, and the key component
of that was Zephyr, so it was like zephyrrell or
(13:30):
something or other, and that was because her dog's name
is Zephyr and if she named it after her dog,
so she has got a flair for naming wow newly
discovered species.
Speaker 2 (13:41):
This one, the Lucifer, is the first new member of
the B Group in twenty years. So if that's the case,
kit you go ahead, you name them whatever you want,
go for it, especially if you're discovering them.
Speaker 1 (13:49):
You've got the right to do it. If you want
to name one after fear and Greed, we'd be very appreciative.
The Alma stick insect.
Speaker 2 (14:00):
More of the Thompson sticking sequence that you more.
Speaker 1 (14:02):
Yeah, probably turning to international news now, and President Donald
Trump has provided a thinly veiled warning to Republicans speaking
out against him. Keep it up and you'll lose your endorsement.
Speaker 2 (14:14):
Yes, there wasn't much subtle about it at all. At
the center of the current Frakkha is Georgian Congresswoman Marjorie
Taylor Green. She's been an ardent Trump supporter, but the
Jeffrey Epstein case has turned her against Trump, and the
president is not happy. Green has escalated her criticism of
Trump's focus on foreign policy over what she has said
(14:37):
should be an agenda that concentrates on Americans as well
as local Americans and cost of living. She's not happy
about his reluctance to release more documents involving Epstein. Over
the weekend, Trump said he would support a primary challenge
against Green. In fact on truth socially said, I quote
all I see wacky Marjorie do is complain, complain, complain
(15:00):
reading caps. Of course, I understand that wonderful conservative people
are thinking about primary primarying that's a funny word, primary
Marjorie in her district of Georgia, that they too are
fed up with her and her antics, and if the
right person runs, they will have my complete and unyielding support.
Now Green isn't backing down, and the one time MAGA
fan club leader is causing disquite among supporters of Trump.
(15:24):
What this really does? It sort of threatens to expand
the cracks in the movement. Is a maga movement? Want
to know a lot about Jeffrey Epstein and the files
on them. Now Donald Trump has ordered the Department of
Justice to look into Democrat people involved with Epstein. Clinton
being one, Bill Clinton, Larry Summers being another. But the Maga,
(15:45):
they crown, they want more, and she is very much
Marjory Tyler Green is very much at the center of that.
Speaker 1 (15:51):
Okay, just while on Trump, somewhat paradoxically, sean Australian graziers
will be disappointed that the President cut tariffs on beef
over the weekend.
Speaker 2 (16:02):
Yes, Trump has immediately removed tariffs on hundreds of product categories,
including beef, fruits, coffee, nuts, spices, and moved aimed at
lowering costs on groceries. Australian beef exports, though they've surged
as a result of a tariff advantage against rival producers.
So Brazil has a fifty percent tariff on it, New
Zealand of fifteen percent tariff, Australia just ten percent. Sales
(16:24):
of beef, Australia's largest export to the US, hit one
point six billion dollars in three months two September, a
twenty six percent jump. While Trade Minister Don Farrell welcomed
the removal of tariffs, generally, local grociers might not be
so happy, mind you. The US Kalman, they're not real happy.
They're struggling with drought and tariffs on their inputs such
(16:44):
as farm equipment and fertilizer used to grow feed. Those
farmers are also very upset about Trump's Baiale out of Argentina.
That dealing included increased beef exports to the US's lower prices.
All in all, he's got a few problems here because
he's the cattleman. Are conservatives of course, so this issue
there Australia. Ironically, our farmers less happy about the reduction
(17:09):
in tariffs.
Speaker 1 (17:10):
All right, Up next is Fear and Greed Q and A.
It is the week ahead and he's back. Sean Stephen
could coolis the kook is back on deck. He's had
six weeks off swanning around Italy having a great time,
but he is back. Goodness me. There was a bit
going on in the economy while he was away and
he's jumping straight back into it. We're looking at wages data,
(17:32):
we're looking at everything that came out last week and
his take on interest rates. All of that coming up
next to the Fear and Greed playlist on your podcast
platform or at Fearangreed dot com dot au. Thank you
very much, Sean.
Speaker 2 (17:42):
Thanks Michael.
Speaker 1 (17:43):
It's Monday, the seventeenth of November 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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