December 8, 2025 • 17 mins
Tuesday 9 December 2025
The federal government dumps energy rebates as the government rethinks its reform agenda.
- Communications Minister Anika Wells in more hot water over publicly funded flights for her family.
- The world watches as Australia ‘s social media ban kicks off.
- Close to one million Australians now work two jobs.
- Qantas finally gets its full fleet of A380s into the sky.
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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 federal government dumps energy rebates as the government rethinks
its reform agenda. Communications Minister Anika Wells in more hot
water over publicly funded flights for her family, and the
world watches as Australia's social media band kicks off. Plus
close to one million Australians now work two jobs, and
(00:28):
Qantas finally gets its full fleet of a three eighties
back in the sky. It is Tuesday, the ninth of
December twenty twenty five. I'm Michael Thompson and good morning
Sean Aylmer.
Speaker 2 (00:38):
Good morning, Michael.
Speaker 1 (00:40):
Sean plenty to get through today the main story this morning.
Federal Treasurer at Jim Chalmers yesterday said federal energy rebates
will end at the end of the year, ruling out
a second extension.
Speaker 2 (00:52):
The Energy Bill Relief Fund initially provided a universal three
hundred dollars household rebate for the twenty twenty four to
twenty five financial year that was paid in quarterly installments.
Then the government added another one hundred and fifty dollars
extension from July to December. That's end this December, but
that is where it will all end. Rebates for household
(01:13):
electricity bills has cost the Commonwealth almost seven billion dollars
since they were first introduced. Yesterday, Jim Chalmers said no more,
all over.
Speaker 1 (01:24):
It's done now. His comments come as speculation increases about
major reform in next year's federal budget, which we might
get a little hint about next week when the Mid
Year Economic and Fiscal Outlook, which has the catchiest acronym
of all time MAEFO, is released.
Speaker 2 (01:42):
Yes, there's a bit to this. Government spending has been
propping up the economy. We know that. We saw it
in the National accounts last week. Experts say it's time
for the private sector to take over. That should definitely
help productivity in Australia. That's a good thing now. A
report from Loyd, which I reckon, Chris Richardson and the
team perhaps the best budget and lest there are. It
(02:06):
was released yesterday, shows a likely drop in the budget
deficit this financial year, but an increase in the next
financial year. Budgets are really simple ways of showing how
much a government is supporting the economy, so the Deloitte
reports suggest the government won't be pulling back. So if
you're getting a bigger budget deficit. That's saying that the
budget is supporting the economy even more. Anyway, the point
(02:28):
is we are trying, We're hoping that won't happen. On
top of all this, we had Prime Minister Anthony Alberzi's
saying over the past forty eight hours that the May
budget would be the starting point for long lasting economic
and social reform. They have a big enough mandate. If
any government should be in a position to undertake serious
(02:49):
economic and social reform, it's this government. And Albanese is
talking about that.
Speaker 1 (02:54):
What would it be? You know how, I know that
you hate speculating, Sean, so I'm going to put you
on the spot to speculate something of this kind of magnitude.
If he's talking about long lasting economic and social reform,
we know that it's not GST related or anything, or
really taxation related, is it, because it's kind of ruled
out those big ticket items without going to another election.
(03:16):
So it really does leave it to more social reforms
than anything.
Speaker 2 (03:20):
Yeah. I mean, this government has done a lot in
terms of aged care, in terms of childcare, that reform
the ndies. Now there's a lot of stuff that needs
to be settled in all that, So I don't know
whether he's talking about that sort of thing. You can't
have economic reform without having tax reform. It's not feeding
and reform unless it's tax reform. So who knows they're
(03:42):
social reform? I don't know. Spanning sixteen year olds from
under sixteen year olds from using social media, that's social reform.
Speaker 1 (03:49):
That certainly is which we will get to a little
bit later on, because we need to mention the fact
it is a very significant day in the calendar. Today
seawan a big day for interest rate watches. I don't
know whether it's fair to say this is a significant
day on the calendar. Actually, that might be overstating it.
The RBA Board is unlikely to actually move on the
official cash rate at two thirty today, though it is
(04:12):
very possible that Governor Michelle Bullock might just hint that
the next move in interest rates is going to be up.
Speaker 2 (04:18):
So that's what HSBC Chief Economist Paul Bloxham, a former
Reserve banker, thinks could happen. BT shares David bassenis he
thinks a board member advocating a rate hike today, a
rate hike today, say it again, a rate hike today
isn't out of the question. Amp Shane Oliver, who's been
very very supportive of rate cuts now thinks rates are
(04:39):
on hold and he wouldn't be surprised if the Reserve
Bank sounds a little more hawkish, ie a little more
leaning towards rate rises. Will find out at two thirty today.
Speaker 1 (04:51):
Indeed, the ax how do we go? Yesterday?
Speaker 2 (04:54):
The S and PAX two hundred closed down just a
touch to eighty six hundred and twenty four points. Telco's
doing best, mining and utility companies, worst banks for mixtaanes
At and National Australia Bank sold off. Where's Farmers was lower,
CSL was higher, the big miners well lower. Telstra jumped
one and a half cent best to the mega caps.
Michael shout out to the mighty Aussie dollar. And I
(05:14):
do this with no holidays planned whatsoever going forward. It
hit a six month high. Of course it did sixty
six and a half a few ways sins, no holiday's plan.
So what's it do start appreciating?
Speaker 1 (05:26):
That's right, It's called the Alma Index. It's basically it's basically,
whenever you're going overseas, the Aussie dollar sinks and whenever
you're staying here it starts to climb nice very frustrating. Yeah,
of course it is the Sewan. The pressure is building
on Prime Minister Anthony Albanezi to take action over Communications
(05:47):
Minister Anika Wells travel schedule. We've been talking about this.
We talked about it, yes, so we talked about it
last week and this should be a big time for
Anika Wells, the Communications Minister who's overseeing the social media
band that kicks in tomorrow. But just every day more
is coming out about these travel claims, the latest being
that she built taxpayers almost nine thousand dollars for return
(06:09):
flights so that her husband could attend the three AFL
Grand Finals that took place while she was Minister for Sport.
Her three children also received publicly funded flights to Melbourne
on ed occasion.
Speaker 2 (06:22):
Yeah, yeah, put it well another day. Another revelation yesterday
was that in twenty twenty two, twenty three, twenty four,
she and her husband flew from Brisbane to Melbourne for
the AFL Grand Final at the expense of the taxpayer.
Other controversial trips involving her husband in recent times a
trip to the f one in Melbourne last year, a
(06:43):
ship to Adelaide which included a birthday party for a friend.
Another trip to Threadbot this year during the ski season. Now,
family reunion and titlements permit federal MPs to claim as
many as three return business class lives per year for
members of their family, on the provised that the travelers
between the MP's electorate and a destination other than Canberra.
(07:05):
Maybe she isn't outside the rules. Maybe, but given questions
over her travel, particularly the cost of her trips to
New York this year and then a couple of years
go to Switzerland, France, these other domestic trips, she's treading
a very fine line. And of course opposition Lady Susan
(07:25):
Lee arguably she did not break any rules when she
went to the Gold Coast a few years back when
she was a minister under Malcolm Turnbull. While she was there,
she happened to buy an investment unit and she actually
got kicked off the front.
Speaker 1 (07:40):
Bench for it.
Speaker 2 (07:41):
So she's not going to have any sympathy whatsoever for
Anika Wells and the pub test here. Oh she's I mean,
I'm actually torn about this, Michael, because politicians give up
so much of their life you know, and I think
to have their spouses and kids along is not a
bad thing. Yeah, but there's a limit.
Speaker 1 (08:02):
And I do find it frustrating that it does take
the attention away from the big issue that Anaka Wells
has been pushing, which is the social media band, which
should be front and center this week for her. Instead
every day and every hour, it seems there is something
else coming out. But we will get to that in
a little bit, Sean. We have much to cover, much
(08:25):
to discuss back in a moment with the rest of
the day's business news Sewan. Former National Party member and
leader Barnaby Joyce yesterday confirmed he will join One Nation
and run for the Senate in New South Wales at
the next election.
Speaker 2 (08:44):
He made the announcement appearing on a Teenworth radio station
with One Nation leader Pauline Hansen. Teenworth is in Joyce
in Joyce, the seat of New England. He intends to
remain the member until the next excellent due by twenty
twenty eight. Joyce said Hanson was a fellow traveler and
was keen to move on after or he was keen
(09:05):
to move on after several months of speculation. Now current
Nationals leader David litl Pratt didn't miss him. He said
Joyce was turning his back on his elector, and he
also suggested that he wanted to be leader of one
nation and was doing it for himself. No one in
the NATS was particularly happy about it, though Barnaby seemed
reasonably heavy. If he's ever happy.
Speaker 1 (09:25):
There's certainly no surprises here, are they like we? No
nass has been coming for so long now Now close
to one million Australian workers hold more than one job,
with those in community and personal care most likely to
have multiple employers.
Speaker 2 (09:39):
According to the Bureau Statistics, there were nine hundred and
seventy three thousand multiple job holders in the September quarter.
That's about six and a half percent of people employed.
That compares to fourteen million single job holders. It's higher
than three months earlier. Around seven point six percent were women,
five percent six percent were men. Now, in the twenty
(10:01):
five years before COVID, right five or six percent of
the workforce held two three four jobs that tumbled during COVID.
Then it's surged to twenty twenty two and has never
reversed back to normal. I speculate it's a cost of
living thing people need the money and when you have
people in the community in personal care most likely to
(10:23):
have multiple employees, that backs it up because those people
do incredible jobs yet get paid relatively poorly. So you
would think it is a cost of living issue.
Speaker 1 (10:31):
Yeah, it does sound like it. At National Storage, a
listed real estate investment trust that owns more than two
hundred and ninety self storage facilities across Australia and New Zealand,
has agreed to a four billion dollar takeover offer by
a consortium of private equity players.
Speaker 2 (10:46):
The consortium is led by Brookfield and GIC. The offer
values the group at six point seven billion dollars when
you add in the debt. The consortium bid for National
Storage last month, then it went into due diligence. National
Storage Board has backed the b chair Anthony key Keene,
saying your cash deal delivered attractive value and certainty. The
group's share price rose yesterday. That jumped sharply late last
(11:09):
month when the bid was announced.
Speaker 1 (11:11):
Now it's not an exaggeration to say that the world
is watching very closely. Australia's social media band fro under
sixteen year olds. It kicks off tomorrow. You've got the
New York times. You've got the BBC and a whole
stack of other international publications reporting on the world for
basically this is the first time this has ever happened anywhere.
We've got Oprah Winfrey commenting on it. We've got us
(11:33):
kind of actors like Chris Pratt and others all kind
of chiming in on it, applauding Australia. It's getting a
lot of attention.
Speaker 2 (11:39):
Sure As from tomorrow, children under the age of sixteen
are banned from having social media accounts, social media giants
or social media apps that are affected Facebook, Instagram, kick, Reddit, Snapchat, threads, TikTok,
twitch x and YouTube. Now they've all implemented new rules
and processes to prevent children accessing social media sites. The
(12:02):
onus is on the big tech companies, not the parents,
to enforce the ban if reasonable steps are not taken
by the social media sites they face finds it up
to forty nine and a half million dollars. It is
not an understatement to say the world is watching this.
You and I read fairly widely across international publications, and
(12:22):
it is everywhere now some countries, Malaysia, for example, has
already passed similar legislation based on the Australian legislation. The
European Union said it's watching and learning from Australia, though
it does say it will take steps towards it. Denmark's
already promised to ban under fifteen year olds on the
back of what we've done. Emmanuel mccron in recent times
(12:42):
has said if the EU doesn't do something, he will
do something. This is a big issue.
Speaker 1 (12:48):
I hope.
Speaker 2 (12:49):
I mean, well, I wish parents. Well, maybe I'll just
leave it at that, because, oh wow, I'm fortunate enough
in a sense that my youngest child's now seventeen. I
don't have to enforce this year, will Michael, Although your
kids are quite young, so maybe they haven't really got
social media.
Speaker 1 (13:04):
A few years off off social media anyway.
Speaker 2 (13:06):
Wow, you've got a fourteen year old and you're telling
him not to be on social media tomorrow.
Speaker 1 (13:10):
Good luck, good luck. Indeed, now Quantus Sean finally has
all This is a This is a front runner for
my favorite story of the week. It's finally got all
of its a. Three eighties back in the air, with
the tenth Super Jumbo returning to Sydney after nearly six
years spent in a combination of storage and in heavy maintenance.
Speaker 2 (13:31):
Named Paul McGinnis after one of the airline's founders. The
A three eighties spent three years in the California desert
due to the COVID pandemic, then another two and a
half years at Abu Dhabi undergoing maintenance to ensure it's
safe return to flying. I want to know how it
got from California to Abu Dhabi, But I was.
Speaker 1 (13:49):
About to ask the same question. Can you imagine being
the pilot volunteering to do it. We think it's a contenance.
Speaker 2 (13:55):
Yeah, we think it's okay, Off you go.
Speaker 1 (13:57):
It's let's just do a skeleton crew just in case.
Speaker 2 (13:59):
It's It's the largest maintenance check completed in Quantita's one
hundred and five year history, involving one hundred thousand hours
of work, representing a significant milestone for its engineering and
fleet renewal programs. It's also had a full cabin refresh.
Now all of the A three eighties in the Quantis
fleet have fourteen first class seventy business class sixty Premium
(14:23):
economy in three hundred and forty one economy seats over
the upper and lower decks. The aircraft which hadn't been
on Australian soil for two thousand days. Touchdown mate last week.
It'll serve as an operational spare, So imagine all that
work for a spare during Christmas period from January one,
it will boost international capacity by allowing a three eighty
or daily a three eighties flying on Quantus's Sydney Dallas route.
(14:47):
According to The Australian, quite a feat to get it
back in the air.
Speaker 1 (14:51):
Yeah, sure, is turning to international news now. Sean and
Elon Musk's charitable foundation grew larger than ever last year,
but for the four fourth year in a row, the
huge charity failed to give away the minimum amount required by.
Speaker 2 (15:06):
Law, and, according to a report in The New York Times,
the dare nations it did make went largely to charities
closely tied to Musk himself. The foundation is now one
of the largest in the country, more than fourteen billion
dollars in assets. But unlike some other billionaires who have
dedicated their nonprofits to broader social or political causes, Musk
in recent years used his nonprofit in ways that track
(15:27):
the interests of his businesses. For example, in twenty twenty four,
the Musk Foundation gave away four hundred and seventy four
million dollars, more than it had in any previous year,
but more than three quarters of that three seventy million
went to a nonprofit in Texas led by Musk's top aid.
That nonprofit appears to provide a benefit to his business
(15:49):
empire because it operates a primary school in a rural
area where many of his employees live. It's right near
a cluster of Musk's companies. A higher proportion of US
Foundation gifts in twenty twenty four went to those closely
connected charities then in any years since twenty twenty, according
to an analysis by The Times.
Speaker 1 (16:09):
All Right, he has a bit in that. Don't know
whether all of that passes the pub test.
Speaker 2 (16:14):
Nah, that one doesn't pass the pub test.
Speaker 1 (16:16):
This is not a good day for the pub test.
I'll tell you what is good though, Sean. You've got
an interview coming up next Fear and Greed Q and
A with Henry Oshida from US fintech Rocket Dollar.
Speaker 2 (16:26):
Yes. So, what Henry broadly does is help retirees or
people with what we would call DIY superfunds, the equivalent
in the US invest in alternative assets so we talk
to him about what's the outlook for some of those
alternative assets for private equity, for private credit, for gold
(16:47):
and you know why the old equities and bonds might
not be the way to go. A fascinating chat.
Speaker 1 (16:54):
Yeah, indeed, a great insight into the way that it
works in the US and potentially than what we could
see flowing through through to Australia then as well. It's
coming up next and Rocket Dollar is a great supporter
of Fear and Greed. It is in your Fear and
Greed playlist on your podcast platform or at Fearangreed dot
com dodau which is where you sign up for the
free daily newsletter, and there's a link in today's show
notes for that one as well. Thank you Sean, Thank
(17:15):
you Michael. It's Tuesday, the ninth of December twenty twenty five.
Make sure you're following the podcast and 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 federal government dumps energy rebates as the government rethinks
its reform agenda. Communications Minister Anika Wells in more hot
water over publicly funded flights for her family, and the
world watches as Australia's social media band kicks off. Plus
close to one million Australians now work two jobs, and
(00:28):
Qantas finally gets its full fleet of a three eighties
back in the sky. It is Tuesday, the ninth of
December twenty twenty five. I'm Michael Thompson and good morning
Sean Aylmer.
Speaker 2 (00:38):
Good morning, Michael.
Speaker 1 (00:40):
Sean plenty to get through today the main story this morning.
Federal Treasurer at Jim Chalmers yesterday said federal energy rebates
will end at the end of the year, ruling out
a second extension.
Speaker 2 (00:52):
The Energy Bill Relief Fund initially provided a universal three
hundred dollars household rebate for the twenty twenty four to
twenty five financial year that was paid in quarterly installments.
Then the government added another one hundred and fifty dollars
extension from July to December. That's end this December, but
that is where it will all end. Rebates for household
(01:13):
electricity bills has cost the Commonwealth almost seven billion dollars
since they were first introduced. Yesterday, Jim Chalmers said no more,
all over.
Speaker 1 (01:24):
It's done now. His comments come as speculation increases about
major reform in next year's federal budget, which we might
get a little hint about next week when the Mid
Year Economic and Fiscal Outlook, which has the catchiest acronym
of all time MAEFO, is released.
Speaker 2 (01:42):
Yes, there's a bit to this. Government spending has been
propping up the economy. We know that. We saw it
in the National accounts last week. Experts say it's time
for the private sector to take over. That should definitely
help productivity in Australia. That's a good thing now. A
report from Loyd, which I reckon, Chris Richardson and the
team perhaps the best budget and lest there are. It
(02:06):
was released yesterday, shows a likely drop in the budget
deficit this financial year, but an increase in the next
financial year. Budgets are really simple ways of showing how
much a government is supporting the economy, so the Deloitte
reports suggest the government won't be pulling back. So if
you're getting a bigger budget deficit. That's saying that the
budget is supporting the economy even more. Anyway, the point
(02:28):
is we are trying, We're hoping that won't happen. On
top of all this, we had Prime Minister Anthony Alberzi's
saying over the past forty eight hours that the May
budget would be the starting point for long lasting economic
and social reform. They have a big enough mandate. If
any government should be in a position to undertake serious
(02:49):
economic and social reform, it's this government. And Albanese is
talking about that.
Speaker 1 (02:54):
What would it be? You know how, I know that
you hate speculating, Sean, so I'm going to put you
on the spot to speculate something of this kind of magnitude.
If he's talking about long lasting economic and social reform,
we know that it's not GST related or anything, or
really taxation related, is it, because it's kind of ruled
out those big ticket items without going to another election.
(03:16):
So it really does leave it to more social reforms
than anything.
Speaker 2 (03:20):
Yeah. I mean, this government has done a lot in
terms of aged care, in terms of childcare, that reform
the ndies. Now there's a lot of stuff that needs
to be settled in all that, So I don't know
whether he's talking about that sort of thing. You can't
have economic reform without having tax reform. It's not feeding
and reform unless it's tax reform. So who knows they're
(03:42):
social reform? I don't know. Spanning sixteen year olds from
under sixteen year olds from using social media, that's social reform.
Speaker 1 (03:49):
That certainly is which we will get to a little
bit later on, because we need to mention the fact
it is a very significant day in the calendar. Today
seawan a big day for interest rate watches. I don't
know whether it's fair to say this is a significant
day on the calendar. Actually, that might be overstating it.
The RBA Board is unlikely to actually move on the
official cash rate at two thirty today, though it is
(04:12):
very possible that Governor Michelle Bullock might just hint that
the next move in interest rates is going to be up.
Speaker 2 (04:18):
So that's what HSBC Chief Economist Paul Bloxham, a former
Reserve banker, thinks could happen. BT shares David bassenis he
thinks a board member advocating a rate hike today, a
rate hike today, say it again, a rate hike today
isn't out of the question. Amp Shane Oliver, who's been
very very supportive of rate cuts now thinks rates are
(04:39):
on hold and he wouldn't be surprised if the Reserve
Bank sounds a little more hawkish, ie a little more
leaning towards rate rises. Will find out at two thirty today.
Speaker 1 (04:51):
Indeed, the ax how do we go? Yesterday?
Speaker 2 (04:54):
The S and PAX two hundred closed down just a
touch to eighty six hundred and twenty four points. Telco's
doing best, mining and utility companies, worst banks for mixtaanes
At and National Australia Bank sold off. Where's Farmers was lower,
CSL was higher, the big miners well lower. Telstra jumped
one and a half cent best to the mega caps.
Michael shout out to the mighty Aussie dollar. And I
(05:14):
do this with no holidays planned whatsoever going forward. It
hit a six month high. Of course it did sixty
six and a half a few ways sins, no holiday's plan.
So what's it do start appreciating?
Speaker 1 (05:26):
That's right, It's called the Alma Index. It's basically it's basically,
whenever you're going overseas, the Aussie dollar sinks and whenever
you're staying here it starts to climb nice very frustrating. Yeah,
of course it is the Sewan. The pressure is building
on Prime Minister Anthony Albanezi to take action over Communications
(05:47):
Minister Anika Wells travel schedule. We've been talking about this.
We talked about it, yes, so we talked about it
last week and this should be a big time for
Anika Wells, the Communications Minister who's overseeing the social media
band that kicks in tomorrow. But just every day more
is coming out about these travel claims, the latest being
that she built taxpayers almost nine thousand dollars for return
(06:09):
flights so that her husband could attend the three AFL
Grand Finals that took place while she was Minister for Sport.
Her three children also received publicly funded flights to Melbourne
on ed occasion.
Speaker 2 (06:22):
Yeah, yeah, put it well another day. Another revelation yesterday
was that in twenty twenty two, twenty three, twenty four,
she and her husband flew from Brisbane to Melbourne for
the AFL Grand Final at the expense of the taxpayer.
Other controversial trips involving her husband in recent times a
trip to the f one in Melbourne last year, a
(06:43):
ship to Adelaide which included a birthday party for a friend.
Another trip to Threadbot this year during the ski season. Now,
family reunion and titlements permit federal MPs to claim as
many as three return business class lives per year for
members of their family, on the provised that the travelers
between the MP's electorate and a destination other than Canberra.
(07:05):
Maybe she isn't outside the rules. Maybe, but given questions
over her travel, particularly the cost of her trips to
New York this year and then a couple of years
go to Switzerland, France, these other domestic trips, she's treading
a very fine line. And of course opposition Lady Susan
(07:25):
Lee arguably she did not break any rules when she
went to the Gold Coast a few years back when
she was a minister under Malcolm Turnbull. While she was there,
she happened to buy an investment unit and she actually
got kicked off the front.
Speaker 1 (07:40):
Bench for it.
Speaker 2 (07:41):
So she's not going to have any sympathy whatsoever for
Anika Wells and the pub test here. Oh she's I mean,
I'm actually torn about this, Michael, because politicians give up
so much of their life you know, and I think
to have their spouses and kids along is not a
bad thing. Yeah, but there's a limit.
Speaker 1 (08:02):
And I do find it frustrating that it does take
the attention away from the big issue that Anaka Wells
has been pushing, which is the social media band, which
should be front and center this week for her. Instead
every day and every hour, it seems there is something
else coming out. But we will get to that in
a little bit, Sean. We have much to cover, much
(08:25):
to discuss back in a moment with the rest of
the day's business news Sewan. Former National Party member and
leader Barnaby Joyce yesterday confirmed he will join One Nation
and run for the Senate in New South Wales at
the next election.
Speaker 2 (08:44):
He made the announcement appearing on a Teenworth radio station
with One Nation leader Pauline Hansen. Teenworth is in Joyce
in Joyce, the seat of New England. He intends to
remain the member until the next excellent due by twenty
twenty eight. Joyce said Hanson was a fellow traveler and
was keen to move on after or he was keen
(09:05):
to move on after several months of speculation. Now current
Nationals leader David litl Pratt didn't miss him. He said
Joyce was turning his back on his elector, and he
also suggested that he wanted to be leader of one
nation and was doing it for himself. No one in
the NATS was particularly happy about it, though Barnaby seemed
reasonably heavy. If he's ever happy.
Speaker 1 (09:25):
There's certainly no surprises here, are they like we? No
nass has been coming for so long now Now close
to one million Australian workers hold more than one job,
with those in community and personal care most likely to
have multiple employers.
Speaker 2 (09:39):
According to the Bureau Statistics, there were nine hundred and
seventy three thousand multiple job holders in the September quarter.
That's about six and a half percent of people employed.
That compares to fourteen million single job holders. It's higher
than three months earlier. Around seven point six percent were women,
five percent six percent were men. Now, in the twenty
(10:01):
five years before COVID, right five or six percent of
the workforce held two three four jobs that tumbled during COVID.
Then it's surged to twenty twenty two and has never
reversed back to normal. I speculate it's a cost of
living thing people need the money and when you have
people in the community in personal care most likely to
(10:23):
have multiple employees, that backs it up because those people
do incredible jobs yet get paid relatively poorly. So you
would think it is a cost of living issue.
Speaker 1 (10:31):
Yeah, it does sound like it. At National Storage, a
listed real estate investment trust that owns more than two
hundred and ninety self storage facilities across Australia and New Zealand,
has agreed to a four billion dollar takeover offer by
a consortium of private equity players.
Speaker 2 (10:46):
The consortium is led by Brookfield and GIC. The offer
values the group at six point seven billion dollars when
you add in the debt. The consortium bid for National
Storage last month, then it went into due diligence. National
Storage Board has backed the b chair Anthony key Keene,
saying your cash deal delivered attractive value and certainty. The
group's share price rose yesterday. That jumped sharply late last
(11:09):
month when the bid was announced.
Speaker 1 (11:11):
Now it's not an exaggeration to say that the world
is watching very closely. Australia's social media band fro under
sixteen year olds. It kicks off tomorrow. You've got the
New York times. You've got the BBC and a whole
stack of other international publications reporting on the world for
basically this is the first time this has ever happened anywhere.
We've got Oprah Winfrey commenting on it. We've got us
(11:33):
kind of actors like Chris Pratt and others all kind
of chiming in on it, applauding Australia. It's getting a
lot of attention.
Speaker 2 (11:39):
Sure As from tomorrow, children under the age of sixteen
are banned from having social media accounts, social media giants
or social media apps that are affected Facebook, Instagram, kick, Reddit, Snapchat, threads, TikTok,
twitch x and YouTube. Now they've all implemented new rules
and processes to prevent children accessing social media sites. The
(12:02):
onus is on the big tech companies, not the parents,
to enforce the ban if reasonable steps are not taken
by the social media sites they face finds it up
to forty nine and a half million dollars. It is
not an understatement to say the world is watching this.
You and I read fairly widely across international publications, and
(12:22):
it is everywhere now some countries, Malaysia, for example, has
already passed similar legislation based on the Australian legislation. The
European Union said it's watching and learning from Australia, though
it does say it will take steps towards it. Denmark's
already promised to ban under fifteen year olds on the
back of what we've done. Emmanuel mccron in recent times
(12:42):
has said if the EU doesn't do something, he will
do something. This is a big issue.
Speaker 1 (12:48):
I hope.
Speaker 2 (12:49):
I mean, well, I wish parents. Well, maybe I'll just
leave it at that, because, oh wow, I'm fortunate enough
in a sense that my youngest child's now seventeen. I
don't have to enforce this year, will Michael, Although your
kids are quite young, so maybe they haven't really got
social media.
Speaker 1 (13:04):
A few years off off social media anyway.
Speaker 2 (13:06):
Wow, you've got a fourteen year old and you're telling
him not to be on social media tomorrow.
Speaker 1 (13:10):
Good luck, good luck. Indeed, now Quantus Sean finally has
all This is a This is a front runner for
my favorite story of the week. It's finally got all
of its a. Three eighties back in the air, with
the tenth Super Jumbo returning to Sydney after nearly six
years spent in a combination of storage and in heavy maintenance.
Speaker 2 (13:31):
Named Paul McGinnis after one of the airline's founders. The
A three eighties spent three years in the California desert
due to the COVID pandemic, then another two and a
half years at Abu Dhabi undergoing maintenance to ensure it's
safe return to flying. I want to know how it
got from California to Abu Dhabi, But I was.
Speaker 1 (13:49):
About to ask the same question. Can you imagine being
the pilot volunteering to do it. We think it's a contenance.
Speaker 2 (13:55):
Yeah, we think it's okay, Off you go.
Speaker 1 (13:57):
It's let's just do a skeleton crew just in case.
Speaker 2 (13:59):
It's It's the largest maintenance check completed in Quantita's one
hundred and five year history, involving one hundred thousand hours
of work, representing a significant milestone for its engineering and
fleet renewal programs. It's also had a full cabin refresh.
Now all of the A three eighties in the Quantis
fleet have fourteen first class seventy business class sixty Premium
(14:23):
economy in three hundred and forty one economy seats over
the upper and lower decks. The aircraft which hadn't been
on Australian soil for two thousand days. Touchdown mate last week.
It'll serve as an operational spare, So imagine all that
work for a spare during Christmas period from January one,
it will boost international capacity by allowing a three eighty
or daily a three eighties flying on Quantus's Sydney Dallas route.
(14:47):
According to The Australian, quite a feat to get it
back in the air.
Speaker 1 (14:51):
Yeah, sure, is turning to international news now. Sean and
Elon Musk's charitable foundation grew larger than ever last year,
but for the four fourth year in a row, the
huge charity failed to give away the minimum amount required by.
Speaker 2 (15:06):
Law, and, according to a report in The New York Times,
the dare nations it did make went largely to charities
closely tied to Musk himself. The foundation is now one
of the largest in the country, more than fourteen billion
dollars in assets. But unlike some other billionaires who have
dedicated their nonprofits to broader social or political causes, Musk
in recent years used his nonprofit in ways that track
(15:27):
the interests of his businesses. For example, in twenty twenty four,
the Musk Foundation gave away four hundred and seventy four
million dollars, more than it had in any previous year,
but more than three quarters of that three seventy million
went to a nonprofit in Texas led by Musk's top aid.
That nonprofit appears to provide a benefit to his business
(15:49):
empire because it operates a primary school in a rural
area where many of his employees live. It's right near
a cluster of Musk's companies. A higher proportion of US
Foundation gifts in twenty twenty four went to those closely
connected charities then in any years since twenty twenty, according
to an analysis by The Times.
Speaker 1 (16:09):
All Right, he has a bit in that. Don't know
whether all of that passes the pub test.
Speaker 2 (16:14):
Nah, that one doesn't pass the pub test.
Speaker 1 (16:16):
This is not a good day for the pub test.
I'll tell you what is good though, Sean. You've got
an interview coming up next Fear and Greed Q and
A with Henry Oshida from US fintech Rocket Dollar.
Speaker 2 (16:26):
Yes. So, what Henry broadly does is help retirees or
people with what we would call DIY superfunds, the equivalent
in the US invest in alternative assets so we talk
to him about what's the outlook for some of those
alternative assets for private equity, for private credit, for gold
(16:47):
and you know why the old equities and bonds might
not be the way to go. A fascinating chat.
Speaker 1 (16:54):
Yeah, indeed, a great insight into the way that it
works in the US and potentially than what we could
see flowing through through to Australia then as well. It's
coming up next and Rocket Dollar is a great supporter
of Fear and Greed. It is in your Fear and
Greed playlist on your podcast platform or at Fearangreed dot
com dodau which is where you sign up for the
free daily newsletter, and there's a link in today's show
notes for that one as well. Thank you Sean, Thank
(17:15):
you Michael. It's Tuesday, the ninth of December twenty twenty five.
Make sure you're following the podcast and 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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