November 20, 2025 • 17 mins
Friday 21 November 2025
Corporate governance at ASX listed companies is again in the headlines, after DroneShield says its CEO and chair sold shares after the release of incorrect information.
- The ASX surges on the back of a strong result from Wall Street tech leader Nvidia.
- The IMF tells the federal government to reform the economy if it wants to boost living standards.
- Australia dumps its bid to host COP31 next year, but gets a consolation prize.
- Only one local winery named in the world’s top 50 vineyards.
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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.
Corporate governance at ASX listed companies is again in the
headlines after Drone Shields says it's CEO and chair sold
shares after the release of incorrect information. The ASX surges
on the back of a strong result from Wall Street
Tech Leader and Video, and the IMF tells the federal
government to reform the economy if it wants to boost
(00:28):
living standards. Plus, Australia dumps its bid to host COP
thirty one next year, but gets a consolation prize and
only one local winery named in the world's top fifty vineyards.
It is Friday, the twenty first of November twenty twenty five.
I'm Michael Thompson and good morning, Sean Aylmer.
Speaker 2 (00:47):
Morning. Based on that introduction, it is a day of acronyms. Michael, Yes,
you're actually right. I was just pleased to get through
it in just two breaths. Lot a lot going on today, Sean.
The main story this morning, Corporate governance ASX listed companies
is once again really dominating the headlines, with one time
market darling Drone Shield telling the market that it's chief
(01:08):
executive chair and another director sold two point four million
dollars worth of shares after incorrect information had been released
to the market. And then you've got the Mineral Resources
Board backtracking on an agreement to push the CEO out
out of the business. It just keeps giving corporate governance
to ASX listed companies. So the Exchange queried drone Shield
(01:33):
about recent price movements. It's gone from as low as
sixty two cents early this year to six dollars sixty
at the beginning of last month. Six weeks later, it's
now back under two bucks about a dollar eighty seven.
In a sixteen page explanation yesterday, drone Shield outlined the
selling of seventy million dollars worth of shares by three people,
(01:54):
CEO Olig Vaornick, chair Peter James, and director Jethrow Marx.
Selling occurred over several sessions and triggered the big sell
off in the stock.
Speaker 1 (02:05):
Now.
Speaker 2 (02:05):
CEO Vaornick sold all his shares in the company for
almost fifty million dollars between November six and November twelve.
On November ten, the company mistakenly announced it had secured
seven point six million dollars in new contracts with the
US government. Its share price jumped. The company then later
(02:26):
withdrew the announcement when they realized it was a mistake
and the share price fell. Point is the three directors,
including the CEO, sold shares in the window of time
between the original announcement and the correction. The company said
the three directors were in i quote, substantial compliance with
(02:47):
its trading policy and had sort of approval to sell
the maximum number of shares, which was granted on November nine,
sorry November five. Ahead of that selling that began on
November six. The company has blamed its US team for
publishing incorrect information to the market. Now. The head of
the US business resigned this week with immediate effect, though
(03:07):
the company gave no reason. Why. What a mess?
Speaker 1 (03:13):
What a mess? I don't even know what to say
about that. There is just so much in there. And
this is a stock that we've been watching, that everybody's
been watching all the year, and this just keeps on giving.
This story, speaking of which, another one that keeps giving
sean across the country in Western Australia, Mineral Resources has
axed the deadline for founder Chris Allison to exit as
(03:35):
managing director.
Speaker 2 (03:36):
He promised to quit a year ago after a series
of scandals, including allegations of tax fraud via an offshore
scheme that panelized shareholders. Now, Mental Resources chair Malcolm Bundy
said the company wouldn't be rushing to meet an arbitrary
deadline and Ellison would eventually retire in a considered and
methodical way. Now, Ellison and MinRes are facing separate instigations
(04:00):
by the ATO and I Sink, the corporate regulator about
the lack of corporate governance at the minor that has
come under scrutiny from shareholders. Twelve months ago, the way
to plicate shareholders was for Minimal Resources board to say, well,
Chris Ellison will shift out.
Speaker 1 (04:19):
Ain't going to happen, okay, So, like Richard White and
wis Tech Global, Chris Ellison looks to have come through
the Minred scandal basically still as boss of the company.
That they're two kind of it's a bit of a trend,
shall we say, yeah.
Speaker 2 (04:35):
I mean they were the benchmark corporate scandals of twenty
twenty four and into twenty twenty five. In both cases
they are the founder and driving forces of the companies,
and in both cases they're proving very hard to kick out.
Speaker 1 (04:49):
All right, now, let's take a look at the market.
Shaw on the S and the ASX jumped one point
two percent.
Speaker 2 (04:55):
I was about to be very formal, You're going to
get the SMPA six two hundred, and I thought I
didn't even realize you knew that term.
Speaker 1 (05:01):
No, got used it every day in the afternoon report. Sure,
I jumped straight in the afternoon report mode, which is
how I start story one every day. Anyway. The S
and PAX two hundred jump to one point two percent yesterday,
Sean on the back of a strong result on Wall
Street from Nvidia, the world's biggest and arguably one of it's,
if not the most important company.
Speaker 2 (05:21):
Yes, it was at tech stocks that led the way
locally yesterday, US based block jump more than ten percent,
the best of the ASEX two one hundred. The material
sector also did well, as did property companies and banks.
Among the large caps, there were some big movers four
to Skew Medals up more than four percent, Rear Tinto
three percent, BHP two percent. For a few poor sessions,
all the major banks were hire at one percent one
(05:43):
The Quari Group jump two percent, Data Center operated Goodmen
Group rows two percent, So what.
Speaker 1 (05:49):
Do we make of the Nvidia results. It was a
good one, certainly seemed to be the case. Quarterly revenue
of fifty seven billion US dollars and a fourteen percent
rise expected this quarter, plenty of and share buybacks. I
was kind of flippant there where I said it's it's
the most important company in the world, but arguably, considering
where it sits within at the center of the AI boom,
(06:10):
it's probably not far off right.
Speaker 2 (06:12):
No, I think you're totally right. I mean, it was
certainly one for the true believers in artificial intelligence and
for those who don't, who don't think there's a tech
bubble emerging. Nvidia's share price jumped on the back of
the results, as did the local tech stocks. As we mentioned,
there was a note of caution. I mean, it was
a great result. Revenue, higher earnings, higher sort of predictions
(06:36):
of much bigger sales. The Afar Shawn and Clear column
pointed something out yesterday which I thought was really interesting.
Just four companies which Nvidia didn't name, accounted for sixty
one percent of revenue. So that fifty seven billion dollars
in revenue from four companies someone has to pay for
all these chips and there's a fair bit of reliance
(06:59):
on just a few companies. Now those four probably come
from Microsoft, Amazon, Alphabet Meta or open Ai. The question
is can those guys keep making money to pay for
all the chips? And I think that's a fair question
to ask.
Speaker 1 (07:16):
Indeed, Okay, we still have a lot to get through today.
Sean will be back in a moment with the rest
of the day's business news. Sean. The International Monetary Fund
has told the government to pursue comprehensive tax reform and
cut wasteful spending if Australian living standards are to improve.
Speaker 2 (07:40):
Yes, I was going to actually swear, and I stopped myself. Really,
tax reform and cut wasteful spending, you don't say. The
IMF suggested more money should be raised from the GST
and a mining tax could be introduced. Higher taxes from
those areas could result in lower income and tax company
tax rates.
Speaker 1 (07:59):
I said a shift away.
Speaker 2 (08:01):
From state stamp duty on property purchases to a broad
land tax would approve housing affordability. It also applauded the
government's measures to boost the supply of homes My favorite though.
The IMF says the government's managing a soft economic landing
fair enough, but it should embark on a series of
reforms to taxation, the budget, technology, competition, labor markets and
(08:23):
the Green Transition to boost productivity. I'm sure the government
welcomes the IMFs ideas on how to do that. Treasure
Jim Chalmers said, the government doesn't always agree with the
IMFs recommendations.
Speaker 1 (08:34):
We are going to dig into this one a little
deeper in today's Q and because it just you are
you are itching to tell.
Speaker 2 (08:42):
Us what is a bit riled by this one?
Speaker 1 (08:45):
I know that's why I'm looking forward to Q and A.
It comes up after the show where we go into it,
take a look at a few of those points in
a little bit more detail, and you know what, we
might even make it. I was going to say an
X rated show, meaning that you're allowed to say what
you really think, but it suddenly makes tell like we're
going to do it with our pants.
Speaker 2 (09:01):
Off, which we're not going to do. I don't expect
you to come at that out the line go.
Speaker 1 (09:08):
Fully clothed, So stick around for that one. Australia SEAN
has formally dumped its bid to host next year's United
Nations COP thirty one Climate Summit in Adelaide, effectively green
lighting Turkey's bid.
Speaker 2 (09:22):
In return for the Turks hosting the summit, the Albanezy
government proposes that Climate Change and Energy Minister Chris Bowen
share the presidency of the event with Turkey. Bowen would
also be lead negotiating for next year's summit that's been
agreed to. Also, the Prime Minister wants a pre COP
summit in the Pacific to act as a pledging event.
(09:43):
They're calling it towards the Pacific Resilience Fund, which is
an Australian initiative. Bowen blamed Australia's withdrawal on the unworldly
process that decides the COP host. I quote him, obviously
it would be great if Australia would have it all,
but we can't have it all. And Chris Bowen opposition
was very critical of the government, saying they hadn't really
played their hands particularly well all right.
Speaker 1 (10:06):
American media and technology giants reportedly urging President Donald Trump
to reprimand Australia over new laws that dictate foreign players,
TV production plans and also ban kids from accessing social media.
Speaker 2 (10:20):
Powerful lobby groups representing Netflix, Disney, Meta and Alphabet say
a raft of rules put in place by the Albanzi
government to protect Australians online and regulate the digital economy
unfairly target companies from the US. According to a story
in The finn they've lodged formal complaints with the US
Trade representative Jemison Grea reviving a set of longhurled grievances.
(10:42):
Greer puts together an annual report from the submissions about
trade and investment barriers faced by US firms to help
guide the nation's tariff and taxation policy. Now, the Computer
and Communications Industry Association said the social media band Front
of sixteen year olds, which begins next month, overlooks the
progress the industry has made on protecting children from harmful
(11:03):
content and raises serious concerns for industry about freedom of
expression and information.
Speaker 1 (11:08):
The banking regulator says it's really warned really against higher
risk mortgage lending, saying higher household debt and more investor
loans are creating vulnerabilities in the banking system.
Speaker 2 (11:23):
Maybe we could add this to the fear and greed
Q and ACAS. I'm a bit riled about this one.
Speaker 1 (11:27):
You're really cranky today.
Speaker 2 (11:29):
Yeah, I am I am app's basically saying that these
vulnerabilities are being amplified by the role of super funds. APRO,
the regulator is worried about debt to income levels of
households and has hinted that new controls around that ratio
could be introduced. More investor activity and heightened competition for
new lending could trigger a jump in household debt. That's
a concern. Apprassays generally housing shouldn't be considered as safe
(11:53):
as it once was.
Speaker 1 (11:56):
You'll have to explain why those vulnerabilities are being amplified
by the role of super funds too.
Speaker 2 (12:04):
So part of that is the role of private credit, okay,
and how superannuation supports private credit yep. And as a result,
there's funds available for lending to the household sector. Now
that might not be for a house that might be
a small business who's securing the loan against the mortgage.
Speaker 1 (12:22):
That gotcha, gotcha? Gotcha?
Speaker 2 (12:24):
Okay, So that's it's just in a sense, it's the
weight of money that's out of the superannuation sector that
has an impact on all parts of public and private markets.
Speaker 1 (12:34):
Okay, all right, the bit of corporate news around we'll
just do this very quickly. It takes me longer to
introduce it than it does for us to access to
actually do it. Engineering group Walley fell yesterday after it
received a big protest vote against its remunerational report for
the second year in a row.
Speaker 2 (12:53):
Only two Milkshire Price dropped even though it upgraded it's
a fiscal year twenty six revenue guidance, and Magellan Financial
dropped if it's head of Global equities resigned a very
well respected individual when it comes to global equities. At
least he resigned amid an investigation into an alleged relationship
with a junior employee.
Speaker 1 (13:13):
Now this is one that's very close to your heart,
probably closer to your liver, really sure. Only one Australian vineyard, Henske,
in the Barossa wine region in South Australia, has been
named in the World's fifty Best Vineyards. Henske Hill of
Grace is the great kind of rival to Grange, isn't it?
Speaker 2 (13:31):
To penfam AUSTRAI I think Hensk is one of the
great vineyards, Hill of Grace being one of the great
Australian wives. I don't think I've actually been to the vineyard.
I've been just a few South Australian vineyards, but I
don't know that I've been to Henske to be honest.
Speaker 1 (13:47):
Are you suggesting a fear and greed offsite?
Speaker 2 (13:49):
Yep, yes, yes, yes, offside at Henschke. It came in
at number forty seven and it is the first year
since the awards began in twenty nineteen that Australia has
only had one vineyard in the top fifty. So far,
only South Australian wineries have made the cut over that
seven year six year history. So Penfolds McGill Estate fair Enough,
(14:10):
darren Berg been there, Great Spot and Seppersfield in addition
to Henske Henshke. So the covered top vineyard title was
nabbed by I'm going to get the name wrong, but
like is Vic in the Malahu Valley in Chile number
two a winery in Germany? Number three in Spain. I
bring this up because I love the spiel about Vic
(14:31):
the number one?
Speaker 1 (14:32):
Can I quote it please?
Speaker 2 (14:34):
This integrated tourism experience combines architectural features like a floating
roof of bronze titanium, with immersive wine experiences, fine dining,
mountain biking, a luxury hotel and soon a wellness center.
So we're getting an immersive wine experience. What exactly does
that mean? Immersive means mostly you're in it, and a
(14:56):
wellness center at the winery.
Speaker 1 (15:00):
You're not going to find too many goon bags there
a sean.
Speaker 2 (15:04):
You're taking me back to university. Todays Michael move on, okay, turn.
Speaker 1 (15:07):
Into International News Now. And members of the Federal Reserves
Policy Setting Committee expressed quote strongly differing views over whether
to cut interest rates next month. According to minutes of
the Central Bank's October meeting.
Speaker 2 (15:19):
So FED policymakers were deeply divided on the need for
a third rate cut this year, underlining the deepening schism
over rates. The FOMC opted in October to lower rates
by zero point two five percentage points for the second
time this year, but the vote saw a very rare
three way split. One Stephen Mirn, an ally of President
Donald Trump, back to half point cut. The Kansas City
(15:43):
Fed president Jeff Schmid called for rates to be held steady.
In the end, they went for a twenty five basis
point cut. The minutes show that most participants judged that
further downward adjustments to the target range of the federal
funds rate would likely be appropriate, ie likely to get
in another cut, but it just shows the disparate views
(16:04):
in that board meeting at the moment.
Speaker 1 (16:06):
Yeah, absolutely, and just quickly sean because we are over time,
but need to mention this. The Trump administration and Russian
Russian officials have drawn up a proposal to end the
war in Ukraine, and that proposal envisages major concessions by Kiev,
and they've urged President Vladimir Zelenski to accept it.
Speaker 2 (16:24):
A group of Russian and American officials were involved in
the creation of the plan, which is still at a
framework stage. According to The Financial Times, the plan was
conveyed to Kiev this week by US President Donald Trump's
Special envoy, Steve Witkov. According to the report, Witkov made
it clear he wanted Zelenski to accept the terms, even
though they included points that have long been read lines
(16:44):
of the Ukraine. One of the unnamed sources in the
articles said, would amount to Ukraine giving up its sovereignty
if Kiev accepted the plan, and called the effort a
Russian attempt to play the Trump administration, which they added,
was eager to show progress on a deal, all.
Speaker 1 (16:58):
Right, up next Sean is Fear and Green Q and
A where we dig into that IMF report. So fire
up and get ready. It is coming up in the
Fear and Greed playlist on your podcast platform or at
Fearangreed dot com dot au, which is also where you
sign up for our free daily newsletter. Thank you very much,
sor thank you Michael. It's Friday, the twenty first of
November twenty twenty five. Make sure you're following the podcast
(17:18):
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.
Corporate governance at ASX listed companies is again in the
headlines after Drone Shields says it's CEO and chair sold
shares after the release of incorrect information. The ASX surges
on the back of a strong result from Wall Street
Tech Leader and Video, and the IMF tells the federal
government to reform the economy if it wants to boost
(00:28):
living standards. Plus, Australia dumps its bid to host COP
thirty one next year, but gets a consolation prize and
only one local winery named in the world's top fifty vineyards.
It is Friday, the twenty first of November twenty twenty five.
I'm Michael Thompson and good morning, Sean Aylmer.
Speaker 2 (00:47):
Morning. Based on that introduction, it is a day of acronyms. Michael, Yes,
you're actually right. I was just pleased to get through
it in just two breaths. Lot a lot going on today, Sean.
The main story this morning, Corporate governance ASX listed companies
is once again really dominating the headlines, with one time
market darling Drone Shield telling the market that it's chief
(01:08):
executive chair and another director sold two point four million
dollars worth of shares after incorrect information had been released
to the market. And then you've got the Mineral Resources
Board backtracking on an agreement to push the CEO out
out of the business. It just keeps giving corporate governance
to ASX listed companies. So the Exchange queried drone Shield
(01:33):
about recent price movements. It's gone from as low as
sixty two cents early this year to six dollars sixty
at the beginning of last month. Six weeks later, it's
now back under two bucks about a dollar eighty seven.
In a sixteen page explanation yesterday, drone Shield outlined the
selling of seventy million dollars worth of shares by three people,
(01:54):
CEO Olig Vaornick, chair Peter James, and director Jethrow Marx.
Selling occurred over several sessions and triggered the big sell
off in the stock.
Speaker 1 (02:05):
Now.
Speaker 2 (02:05):
CEO Vaornick sold all his shares in the company for
almost fifty million dollars between November six and November twelve.
On November ten, the company mistakenly announced it had secured
seven point six million dollars in new contracts with the
US government. Its share price jumped. The company then later
(02:26):
withdrew the announcement when they realized it was a mistake
and the share price fell. Point is the three directors,
including the CEO, sold shares in the window of time
between the original announcement and the correction. The company said
the three directors were in i quote, substantial compliance with
(02:47):
its trading policy and had sort of approval to sell
the maximum number of shares, which was granted on November nine,
sorry November five. Ahead of that selling that began on
November six. The company has blamed its US team for
publishing incorrect information to the market. Now. The head of
the US business resigned this week with immediate effect, though
(03:07):
the company gave no reason. Why. What a mess?
Speaker 1 (03:13):
What a mess? I don't even know what to say
about that. There is just so much in there. And
this is a stock that we've been watching, that everybody's
been watching all the year, and this just keeps on giving.
This story, speaking of which, another one that keeps giving
sean across the country in Western Australia, Mineral Resources has
axed the deadline for founder Chris Allison to exit as
(03:35):
managing director.
Speaker 2 (03:36):
He promised to quit a year ago after a series
of scandals, including allegations of tax fraud via an offshore
scheme that panelized shareholders. Now, Mental Resources chair Malcolm Bundy
said the company wouldn't be rushing to meet an arbitrary
deadline and Ellison would eventually retire in a considered and
methodical way. Now, Ellison and MinRes are facing separate instigations
(04:00):
by the ATO and I Sink, the corporate regulator about
the lack of corporate governance at the minor that has
come under scrutiny from shareholders. Twelve months ago, the way
to plicate shareholders was for Minimal Resources board to say, well,
Chris Ellison will shift out.
Speaker 1 (04:19):
Ain't going to happen, okay, So, like Richard White and
wis Tech Global, Chris Ellison looks to have come through
the Minred scandal basically still as boss of the company.
That they're two kind of it's a bit of a trend,
shall we say, yeah.
Speaker 2 (04:35):
I mean they were the benchmark corporate scandals of twenty
twenty four and into twenty twenty five. In both cases
they are the founder and driving forces of the companies,
and in both cases they're proving very hard to kick out.
Speaker 1 (04:49):
All right, now, let's take a look at the market.
Shaw on the S and the ASX jumped one point
two percent.
Speaker 2 (04:55):
I was about to be very formal, You're going to
get the SMPA six two hundred, and I thought I
didn't even realize you knew that term.
Speaker 1 (05:01):
No, got used it every day in the afternoon report. Sure,
I jumped straight in the afternoon report mode, which is
how I start story one every day. Anyway. The S
and PAX two hundred jump to one point two percent yesterday,
Sean on the back of a strong result on Wall
Street from Nvidia, the world's biggest and arguably one of it's,
if not the most important company.
Speaker 2 (05:21):
Yes, it was at tech stocks that led the way
locally yesterday, US based block jump more than ten percent,
the best of the ASEX two one hundred. The material
sector also did well, as did property companies and banks.
Among the large caps, there were some big movers four
to Skew Medals up more than four percent, Rear Tinto
three percent, BHP two percent. For a few poor sessions,
all the major banks were hire at one percent one
(05:43):
The Quari Group jump two percent, Data Center operated Goodmen
Group rows two percent, So what.
Speaker 1 (05:49):
Do we make of the Nvidia results. It was a
good one, certainly seemed to be the case. Quarterly revenue
of fifty seven billion US dollars and a fourteen percent
rise expected this quarter, plenty of and share buybacks. I
was kind of flippant there where I said it's it's
the most important company in the world, but arguably, considering
where it sits within at the center of the AI boom,
(06:10):
it's probably not far off right.
Speaker 2 (06:12):
No, I think you're totally right. I mean, it was
certainly one for the true believers in artificial intelligence and
for those who don't, who don't think there's a tech
bubble emerging. Nvidia's share price jumped on the back of
the results, as did the local tech stocks. As we mentioned,
there was a note of caution. I mean, it was
a great result. Revenue, higher earnings, higher sort of predictions
(06:36):
of much bigger sales. The Afar Shawn and Clear column
pointed something out yesterday which I thought was really interesting.
Just four companies which Nvidia didn't name, accounted for sixty
one percent of revenue. So that fifty seven billion dollars
in revenue from four companies someone has to pay for
all these chips and there's a fair bit of reliance
(06:59):
on just a few companies. Now those four probably come
from Microsoft, Amazon, Alphabet Meta or open Ai. The question
is can those guys keep making money to pay for
all the chips? And I think that's a fair question
to ask.
Speaker 1 (07:16):
Indeed, Okay, we still have a lot to get through today.
Sean will be back in a moment with the rest
of the day's business news. Sean. The International Monetary Fund
has told the government to pursue comprehensive tax reform and
cut wasteful spending if Australian living standards are to improve.
Speaker 2 (07:40):
Yes, I was going to actually swear, and I stopped myself. Really,
tax reform and cut wasteful spending, you don't say. The
IMF suggested more money should be raised from the GST
and a mining tax could be introduced. Higher taxes from
those areas could result in lower income and tax company
tax rates.
Speaker 1 (07:59):
I said a shift away.
Speaker 2 (08:01):
From state stamp duty on property purchases to a broad
land tax would approve housing affordability. It also applauded the
government's measures to boost the supply of homes My favorite though.
The IMF says the government's managing a soft economic landing
fair enough, but it should embark on a series of
reforms to taxation, the budget, technology, competition, labor markets and
(08:23):
the Green Transition to boost productivity. I'm sure the government
welcomes the IMFs ideas on how to do that. Treasure
Jim Chalmers said, the government doesn't always agree with the
IMFs recommendations.
Speaker 1 (08:34):
We are going to dig into this one a little
deeper in today's Q and because it just you are
you are itching to tell.
Speaker 2 (08:42):
Us what is a bit riled by this one?
Speaker 1 (08:45):
I know that's why I'm looking forward to Q and A.
It comes up after the show where we go into it,
take a look at a few of those points in
a little bit more detail, and you know what, we
might even make it. I was going to say an
X rated show, meaning that you're allowed to say what
you really think, but it suddenly makes tell like we're
going to do it with our pants.
Speaker 2 (09:01):
Off, which we're not going to do. I don't expect
you to come at that out the line go.
Speaker 1 (09:08):
Fully clothed, So stick around for that one. Australia SEAN
has formally dumped its bid to host next year's United
Nations COP thirty one Climate Summit in Adelaide, effectively green
lighting Turkey's bid.
Speaker 2 (09:22):
In return for the Turks hosting the summit, the Albanezy
government proposes that Climate Change and Energy Minister Chris Bowen
share the presidency of the event with Turkey. Bowen would
also be lead negotiating for next year's summit that's been
agreed to. Also, the Prime Minister wants a pre COP
summit in the Pacific to act as a pledging event.
(09:43):
They're calling it towards the Pacific Resilience Fund, which is
an Australian initiative. Bowen blamed Australia's withdrawal on the unworldly
process that decides the COP host. I quote him, obviously
it would be great if Australia would have it all,
but we can't have it all. And Chris Bowen opposition
was very critical of the government, saying they hadn't really
played their hands particularly well all right.
Speaker 1 (10:06):
American media and technology giants reportedly urging President Donald Trump
to reprimand Australia over new laws that dictate foreign players,
TV production plans and also ban kids from accessing social media.
Speaker 2 (10:20):
Powerful lobby groups representing Netflix, Disney, Meta and Alphabet say
a raft of rules put in place by the Albanzi
government to protect Australians online and regulate the digital economy
unfairly target companies from the US. According to a story
in The finn they've lodged formal complaints with the US
Trade representative Jemison Grea reviving a set of longhurled grievances.
(10:42):
Greer puts together an annual report from the submissions about
trade and investment barriers faced by US firms to help
guide the nation's tariff and taxation policy. Now, the Computer
and Communications Industry Association said the social media band Front
of sixteen year olds, which begins next month, overlooks the
progress the industry has made on protecting children from harmful
(11:03):
content and raises serious concerns for industry about freedom of
expression and information.
Speaker 1 (11:08):
The banking regulator says it's really warned really against higher
risk mortgage lending, saying higher household debt and more investor
loans are creating vulnerabilities in the banking system.
Speaker 2 (11:23):
Maybe we could add this to the fear and greed
Q and ACAS. I'm a bit riled about this one.
Speaker 1 (11:27):
You're really cranky today.
Speaker 2 (11:29):
Yeah, I am I am app's basically saying that these
vulnerabilities are being amplified by the role of super funds. APRO,
the regulator is worried about debt to income levels of
households and has hinted that new controls around that ratio
could be introduced. More investor activity and heightened competition for
new lending could trigger a jump in household debt. That's
a concern. Apprassays generally housing shouldn't be considered as safe
(11:53):
as it once was.
Speaker 1 (11:56):
You'll have to explain why those vulnerabilities are being amplified
by the role of super funds too.
Speaker 2 (12:04):
So part of that is the role of private credit, okay,
and how superannuation supports private credit yep. And as a result,
there's funds available for lending to the household sector. Now
that might not be for a house that might be
a small business who's securing the loan against the mortgage.
Speaker 1 (12:22):
That gotcha, gotcha? Gotcha?
Speaker 2 (12:24):
Okay, So that's it's just in a sense, it's the
weight of money that's out of the superannuation sector that
has an impact on all parts of public and private markets.
Speaker 1 (12:34):
Okay, all right, the bit of corporate news around we'll
just do this very quickly. It takes me longer to
introduce it than it does for us to access to
actually do it. Engineering group Walley fell yesterday after it
received a big protest vote against its remunerational report for
the second year in a row.
Speaker 2 (12:53):
Only two Milkshire Price dropped even though it upgraded it's
a fiscal year twenty six revenue guidance, and Magellan Financial
dropped if it's head of Global equities resigned a very
well respected individual when it comes to global equities. At
least he resigned amid an investigation into an alleged relationship
with a junior employee.
Speaker 1 (13:13):
Now this is one that's very close to your heart,
probably closer to your liver, really sure. Only one Australian vineyard, Henske,
in the Barossa wine region in South Australia, has been
named in the World's fifty Best Vineyards. Henske Hill of
Grace is the great kind of rival to Grange, isn't it?
Speaker 2 (13:31):
To penfam AUSTRAI I think Hensk is one of the
great vineyards, Hill of Grace being one of the great
Australian wives. I don't think I've actually been to the vineyard.
I've been just a few South Australian vineyards, but I
don't know that I've been to Henske to be honest.
Speaker 1 (13:47):
Are you suggesting a fear and greed offsite?
Speaker 2 (13:49):
Yep, yes, yes, yes, offside at Henschke. It came in
at number forty seven and it is the first year
since the awards began in twenty nineteen that Australia has
only had one vineyard in the top fifty. So far,
only South Australian wineries have made the cut over that
seven year six year history. So Penfolds McGill Estate fair Enough,
(14:10):
darren Berg been there, Great Spot and Seppersfield in addition
to Henske Henshke. So the covered top vineyard title was
nabbed by I'm going to get the name wrong, but
like is Vic in the Malahu Valley in Chile number
two a winery in Germany? Number three in Spain. I
bring this up because I love the spiel about Vic
(14:31):
the number one?
Speaker 1 (14:32):
Can I quote it please?
Speaker 2 (14:34):
This integrated tourism experience combines architectural features like a floating
roof of bronze titanium, with immersive wine experiences, fine dining,
mountain biking, a luxury hotel and soon a wellness center.
So we're getting an immersive wine experience. What exactly does
that mean? Immersive means mostly you're in it, and a
(14:56):
wellness center at the winery.
Speaker 1 (15:00):
You're not going to find too many goon bags there
a sean.
Speaker 2 (15:04):
You're taking me back to university. Todays Michael move on, okay, turn.
Speaker 1 (15:07):
Into International News Now. And members of the Federal Reserves
Policy Setting Committee expressed quote strongly differing views over whether
to cut interest rates next month. According to minutes of
the Central Bank's October meeting.
Speaker 2 (15:19):
So FED policymakers were deeply divided on the need for
a third rate cut this year, underlining the deepening schism
over rates. The FOMC opted in October to lower rates
by zero point two five percentage points for the second
time this year, but the vote saw a very rare
three way split. One Stephen Mirn, an ally of President
Donald Trump, back to half point cut. The Kansas City
(15:43):
Fed president Jeff Schmid called for rates to be held steady.
In the end, they went for a twenty five basis
point cut. The minutes show that most participants judged that
further downward adjustments to the target range of the federal
funds rate would likely be appropriate, ie likely to get
in another cut, but it just shows the disparate views
(16:04):
in that board meeting at the moment.
Speaker 1 (16:06):
Yeah, absolutely, and just quickly sean because we are over time,
but need to mention this. The Trump administration and Russian
Russian officials have drawn up a proposal to end the
war in Ukraine, and that proposal envisages major concessions by Kiev,
and they've urged President Vladimir Zelenski to accept it.
Speaker 2 (16:24):
A group of Russian and American officials were involved in
the creation of the plan, which is still at a
framework stage. According to The Financial Times, the plan was
conveyed to Kiev this week by US President Donald Trump's
Special envoy, Steve Witkov. According to the report, Witkov made
it clear he wanted Zelenski to accept the terms, even
though they included points that have long been read lines
(16:44):
of the Ukraine. One of the unnamed sources in the
articles said, would amount to Ukraine giving up its sovereignty
if Kiev accepted the plan, and called the effort a
Russian attempt to play the Trump administration, which they added,
was eager to show progress on a deal, all.
Speaker 1 (16:58):
Right, up next Sean is Fear and Green Q and
A where we dig into that IMF report. So fire
up and get ready. It is coming up in the
Fear and Greed playlist on your podcast platform or at
Fearangreed dot com dot au, which is also where you
sign up for our free daily newsletter. Thank you very much,
sor thank you Michael. It's Friday, the twenty first of
November twenty twenty five. Make sure you're following the podcast
(17:18):
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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