November 26, 2025 • 15 mins
Thursday 27 November 2025
Interest rate cuts are off the agenda after a surprise jump in inflation.
- The Labor government in talks to push through an overhaul of environmental laws.
- Super funds get a warning from regulators about improving service for retirees.
- Harvey Norman shares surge on the back of a jump in sales
- A German parking metre attendant accused of stealing $2 million from parking metres.
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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.
Interest rate cuts are off the agenda after a surprise
jump in inflation, the labor government in last minute talks
to push through an overhaul of environmental laws and super
funds get a warning from regulators about improving service for retirees.
Plus Harvey Norman shares surge on the back of a
(00:26):
jump in sales, and a German parking meter attendant accused
of stealing two million dollars from parking meters. It is Thursday,
the twenty seventh of November twenty twenty five. I'm Michael Thompson,
and good morning, Sean Aylmer.
Speaker 2 (00:40):
Little levity to the show. This parking meter story my
favorite of the week.
Speaker 1 (00:44):
I think two million dollars from parking meters. We'll get
to that a bit later on the main story this morning, Sean.
Anyone hoping for another interest rate cut is going to
be deeply, deeply disappointed this morning, after a jump in
inflation pretty much wiped out any chance of the reason
Deserve Bank changing monetary policy anytime soon. I'd even go further.
Speaker 2 (01:03):
If inflation figures like yesterday's keep flowing through, then we'll
be looking at rate rises. Headline inflation accelerated. We didn't
want to hear that to three point eight percent last
month in annual terms, well above the Reserve Banks preferred
to three to four percent. Sorry, I'll say that again,
two to three percent target range. Three point eight percent
above the two to three percent target range, and above
(01:25):
the September reading of three point six percent. Housing due
to electricity prices following the end of rebates, so they rose.
So housing and food with the main contributors to annual inflation.
The underlying rate, which takes out those more volatile items,
came at three point three percent, still above the Reserve
Banks target and an acceleration from the previous month. It
(01:46):
pretty much demonstrates the widespread nature of price pressures in
the economy at the moment.
Speaker 1 (01:51):
Not much to like.
Speaker 2 (01:52):
About yesterday's Bureau of Statistic State of Michael. Services inflation tends
to be stickier than goods inflation. That's rising. That's bad news.
Even outside energy costs, other housing costs continue to rise,
and that's very much front and center when it comes
to cost of living pressures.
Speaker 1 (02:08):
It's extraordinary, isn't it When you get a result like
we had yesterday. You see the reaction play out really
really quickly across markets, across the Aussie dollar, everywhere.
Speaker 2 (02:18):
Really what happened on markets moved immediately. They're pricing in
just a twenty three percent chance of another rate cut
by the middle of next year. It was about double
that level ahead of the release of the data. The
Aussie dollar jumped against the greenback to be buying more
than sixty five US cents. With rates expected to fall
in the US, not change here in Australia, maybe even
go up. The local currency should be supported in the
(02:41):
short term at least. Federal treasure Jim Chalmers, not really happy,
said inflation is higher than the government would like, but
added the price moves were partly being driven by temporary factors.
He was trying to put on a good news face.
There was no good news in It's a hard one
to spin, isn't Itally the October reading yesterday was the
first complete monthly set of figures. It's going to replace
(03:04):
the quarterly set of figures. Market economists did say they're
going to be more volatile over the next year or so,
so you don't get seasonally adjusted figures in some areas.
That'll take twelve months to kick in. Even so, several
basically came out and said a rate hike is now
a real possibility next year.
Speaker 1 (03:27):
And Ubs and Baron, Joey and I like good economists. Yeah,
this is not a good sign. Well, Michael, I'm self interest.
I'm thinking about my mortgage. It is not a good
sign for me.
Speaker 2 (03:40):
That's very true.
Speaker 1 (03:41):
Yeah, Okay. The share market, what was the response.
Speaker 2 (03:45):
There plenty going on in the market. Initially, it opened
much higher yesterday, more than one percent, following a strong
leading for maure Street. The inflation data hit at eleven
thirty am, market fell sharply. Interest rate sensitive stocks hit most.
Then for most of the rest of the sets, the
market regained ground. The S and PA six two hundred
eventually closed up zero point eight percent to eighty six
(04:05):
hundred and seven points. Materials, consumer discretionary, health care indicies
did best. The materials and consumer discretionary certainly helped. Well,
that's true. Consumert discretionary shouldn't be helped by that interest
rate news, but there you go. Anyway, we had some
pretty good retail figs out yesterday from Harvey Norman, which
we'll get to. Maybe that helped that one, along utilities,
(04:27):
tech and telcos underperformed all right.
Speaker 1 (04:30):
Now in politics, the Labor government, including Prime Minister Anthony Alberanezi,
was last night in talks with the Greens and the
Coalition over the passage of new environmental legislation.
Speaker 2 (04:41):
Environment and Water Minister Murray What headed the negotiations with
both the Greens and the Coalition, though later in the
day Prime Minister Anthony Albanezi got involved. The government negotiated
with both groups. What offered the coalition five changes, including
retaining existing approval pathways for certain medium sized projects, imposing
a fourteen day cap on stockw stop work orders imposed
(05:02):
by the new Environment Protection Authority, and clarification around penalty orders.
Now the amendments of the Greens, they were more around
removing fossil fuel projects from fast track approval pathways and
ensuring they could not be subject to a new national
interest exemption from environmental laws.
Speaker 1 (05:19):
Plenty still to come. Sean will be back in a
moment with the rest of the day's business news Shawn.
The gap between the best and worst superfunds in terms
of servicing members is widening, according to regulators, a situation
that has really become critical with two and a half
(05:41):
million people expected to retire over the next decade.
Speaker 2 (05:45):
Assek and Apri yesterday released a review of the supersector
and warned that too many superfunds have put retiree savings
at risk because service levels remain poor. It is particularly
relevant because so many people are approaching retirement they need help.
Speaker 1 (06:00):
Well.
Speaker 2 (06:00):
There was legislation introduced three years ago that forced funds
to come up with strategies for their retiring members. Now
those strategies and advice are supposed to help members plan
for the decades in their retirement. While some super funds
are doing more to help people at retirement age, a
bunch of others are not. The gap between good and
(06:20):
bad is widening, and the regulators are not happy.
Speaker 1 (06:24):
You do discuss this today in Fear and Greed Q
and A with Asset Commissioner Simone Constant.
Speaker 2 (06:29):
Yes, so we talked to someone about a couple of things,
a private credit report that came out a few weeks
back and what that means for private credit for investors.
Then we move on to what came out yesterday just
about the gap between the best and worth super funds.
Great chat.
Speaker 1 (06:43):
Yeah, it really is it's worth sticking around for us
coming up after the show, Harving Norman. You mentioned this earlier.
You teased us with it. The reported solid sales growth
while online retailer Temple and Webster has disappointed. Wow, what
a result yesterday, continuing the run of mixed results for retailers.
Speaker 2 (07:03):
That's right, So, Harvey Norman posted a nine point one
percent increased in aggregate sales revenue from July one to
over twenty, like for like sales are up eight percent
a bit over that. Harvey Norman operates across Australia, New Zealand, Slovenia,
Croatia Island, the UK. It's got partnerships in Singapore and Malaysia.
It triggered a big jump in Harvey Norman's share price,
one of the best of the ASEX two hundred yesterday
(07:26):
at Temple and Webster. Notwithstanding an eighteen percent jump in
revenue during the period, the outcome very much disappointed investors.
This share price fell I think was thirty percent or
something by the end of it. Unlike many retailers, December
is a quiet month for Temple and Webster. People focus
online Christmas presents, not tables. That's exactly right, specifically tables.
Speaker 1 (07:47):
I don't know that game. You didn't you? Yeah, you're
a big Temple and mid Yeah.
Speaker 2 (07:53):
I haven't bought there recently, but when we were renovating
that big big fans of Temple and Webster and I
like their stuff.
Speaker 1 (07:59):
But it's just kind of.
Speaker 2 (08:00):
Cool, how you think all retailers who'd win at Christmas
but not doumblone, w.
Speaker 1 (08:04):
Okay, now Brookfield and GIC, the SINGAPOOREI and Sovereign Wealth
Giant are forming a consortium to bid for National Storage,
which is the real estate business that owns a string
of well as you would guest, self storage sites across
the country.
Speaker 2 (08:19):
Media reports suggests the bid will be three point two
billion dollars. National Storage went into a trading halt yesterday
and now recently a consortium bid two point three million
dollars for Avacus Storage King. That business self storage very
big business at the moment. In fact, I know the
guys that started Storage King really yeah. They both worked
for Jim Miller Miller's Storage and they went out on
(08:41):
their own. One has very sadly passed away since thenbody
they sell to pro Equity and they did very well
from themselves great service. And I remember that the guy's
name was Michael Tate, who the surviving member, and he's
a young man still Michael, but he was a great
one for service. And he said, you think about storage,
(09:04):
people want good service, and say to the people that
you know owned those the big sheds around the country, yep,
service them, service people. And they did really well.
Speaker 1 (09:15):
Out of it on them. And they've become really high
tech the storage centers, because we've been using one that's
a fairly new. Bill got the technology involved in all
of those. It is incredible. You just kind of think storage,
You think kind of a dusty shed. You lock it
up in a way you go, no, no, no, The security
all of this stuff top notch.
Speaker 2 (09:34):
The dusty shed, lock it away. I love that TV show.
I can't remember the name of it, but you know
they go and buy the contents of the sheds.
Speaker 1 (09:42):
Yeah yeah, and they can find all kinds of things.
And he might buy the entire thing for five hundred
bucks and find a chest full of rubies.
Speaker 2 (09:49):
Yeah. I don't think that's ever happened, but they could.
I think.
Speaker 1 (09:52):
I'm still thinking about the shipwreck from yesterday. Yeah, that
worth fifteen billion pounds anyway, Well, we went off topic.
Woodside Energy has done a deal with the Team or
Less Petroleum Ministry to progress an LNG project for the
Southeast Asian nation.
Speaker 2 (10:09):
Very significant for Team or Less. The complex, which would
cost several billion dollars based on similar projects, would involve
a five million one per year LNG plant, a domestic
gas facility in a helium extraction unit. Previously called the
Sunrise development now called TLNG. Production could start as early
as the early twenty thirty two. Basically, the deal comes
(10:32):
after Woodside dropped its insistence that gas from the Team
or Sea field be developed through an existing L and
G hubin Darwin. The Team or lest government, which aids
the majority stake in Sunrise, it brought out Shell and
Connaco Phillips twenty eighteen. I think it argues that gas
must be piped to a plant on its southern coast,
generating jobs and economic activity. Basically, it looks like it's
(10:53):
getting the go ahead.
Speaker 1 (10:54):
Okay. One for the travelers Sean, that's really most of us,
isn't it. Flight Center Travel Group has launched World three
sixty Rewards, which is a new national loyalty program that
offers points on every travel booking across its brands and
more than three hundred partner companies. It's quite big.
Speaker 2 (11:12):
Yes, free to join. You can earn these World three
sixty rewards and flights, hotels, cruises, tours, etc. Basically you
can stack your awards alongside your airline frequent flights, you know,
one or the other like that, you can there's a
paid member here. Now I get that this sounds like
I'm a promo for flight Center and I'm not under
(11:34):
any Absolutely not right. But the point is consumers can
shop around big time and they get some pretty good
benefits at the moment. So right now, global airlines have
a massive Black Friday saline. Oh Michael, you're geting very excited.
Speaker 1 (11:48):
About No, I'm getting this is my gripe. I saw
the story yesterday about all of the big airline international
flights Black Friday markdowns quantus. I think Emirates might have
been doing all of these, yep, And so I thought,
you know what, we're planning on going to the US
in October of next year. Jumped on. Somehow the flights
(12:08):
that iwan have actually gone up on RICE and so
I am the only one that does not benefit from
Black Friday so I am protesting and not booking anything.
Speaker 2 (12:18):
Point is, look around, shove around, you can get some
good deals.
Speaker 1 (12:21):
Thanks turn into International News Now. Sean and US President
Donald Trump will send Special Envoy Steve Whitkoff to meet
Russian lead of Vladimir Putin in Moscow in another push
to secure a peace plan to end the Kremlin's war
in Ukraine.
Speaker 2 (12:35):
The US president said he's negotiated had made tremendous progress
in ending the war, but he would wait until a
deal was within reach before meeting Ukraine's leader, Vladimir Zelenski
and Putin. Trump's remarks came just hours after Russia's signal
it could reject a modified US peace plan to end
the war if the proposal did not satisfy Moscow's long
standing demands, even as Kiev indicated it had agreed a
(12:59):
frame work with Washington. According to The Financial Times Now,
the initial twenty eight point planned significant concessions to Russia
sparked deep alarm among officials in Europe and Ukraine. Trump
earlier in the week said that the plan had been
drafted by the United States and had been fine tuned
with additional input from both sides. He added that there
are only a few remaining points of disagreement. I think
(13:21):
we will only know whether that's the case when we
hear from the leaders of the two countries Russia and Ukraine.
Speaker 1 (13:29):
All Right, we are finally there, Sean, it is time
to talk parking meters. A parking inspector and his wife
have been arrested on suspicion of in Bezley more than
a million euros or about two million dollars from a
small German towns parking meters. It wasn't even from a
big city, so.
Speaker 2 (13:50):
The municipal employees thought to have taken coins out of
parking meters in the town of Kempton. I quote on
numerous occasions.
Speaker 1 (13:59):
I would assume it's not all in one go and.
Speaker 2 (14:02):
Plays them in bank accounts that his wife had access to.
Now local police are saying well, a money laundering report
by a credit institution alerted investigators to the suspected theft.
The inspector faces charges relating to seven hundred and twenty
alleged incidents of theft, same number as his wife is
facing seven hundred and twenty to get a million euros.
Speaker 1 (14:25):
That's it's still a big bags, Still a big bag.
Of coins that you are lugging into the bank, and
surely the bank would get a bit suspicions. Here he
comes Wolfgang again with his bag of coins.
Speaker 2 (14:38):
He knocked over. The Kempton Public Prosecutor's Office was in
form that cash was repeatedly being deposit into several bank accounts,
according to German news agencies DPA. As reported on the BBC,
police then searched office premises in the early sorry search
the officers premises in the early hours of twenty four
November same day. A forty year old man your old
(14:59):
woman was a red. I like the end of the story.
It's not clear how long it might have taken the
couple to accrue the sun. A long time, That's what
I'd say.
Speaker 1 (15:10):
That is a fantastic story. Good way to finish up.
Next is the Fear and Greed Q and A Today.
Sean we mentioned before, Simone, constant Asset Commissioner is your
guest today. It's a great chat. It's coming up in
the Fear and Greed playlist on your podcast platform or
at Fearangreed dot com doodau, which is also where you
sign up for the free daily newsletter. I'll also put
(15:30):
a link to that one in today's show notes, so
it's nice and easy to sign up. Thank you, Sean.
Speaker 2 (15:34):
Thanks Michael.
Speaker 1 (15:34):
It's Thursday, the twenty seventh of November twenty twenty five.
Make sure you're following the podcast and please join us
online on LinkedIn, Instagram, ex TikTok and Facebook. I'm Michael
Thompson And that was Fear and Greed. It a great day.
Welcome to Fear and Greed business news you can use today.
Interest rate cuts are off the agenda after a surprise
jump in inflation, the labor government in last minute talks
to push through an overhaul of environmental laws and super
funds get a warning from regulators about improving service for retirees.
Plus Harvey Norman shares surge on the back of a
(00:26):
jump in sales, and a German parking meter attendant accused
of stealing two million dollars from parking meters. It is Thursday,
the twenty seventh of November twenty twenty five. I'm Michael Thompson,
and good morning, Sean Aylmer.
Speaker 2 (00:40):
Little levity to the show. This parking meter story my
favorite of the week.
Speaker 1 (00:44):
I think two million dollars from parking meters. We'll get
to that a bit later on the main story this morning, Sean.
Anyone hoping for another interest rate cut is going to
be deeply, deeply disappointed this morning, after a jump in
inflation pretty much wiped out any chance of the reason
Deserve Bank changing monetary policy anytime soon. I'd even go further.
Speaker 2 (01:03):
If inflation figures like yesterday's keep flowing through, then we'll
be looking at rate rises. Headline inflation accelerated. We didn't
want to hear that to three point eight percent last
month in annual terms, well above the Reserve Banks preferred
to three to four percent. Sorry, I'll say that again,
two to three percent target range. Three point eight percent
above the two to three percent target range, and above
(01:25):
the September reading of three point six percent. Housing due
to electricity prices following the end of rebates, so they rose.
So housing and food with the main contributors to annual inflation.
The underlying rate, which takes out those more volatile items,
came at three point three percent, still above the Reserve
Banks target and an acceleration from the previous month. It
(01:46):
pretty much demonstrates the widespread nature of price pressures in
the economy at the moment.
Speaker 1 (01:51):
Not much to like.
Speaker 2 (01:52):
About yesterday's Bureau of Statistic State of Michael. Services inflation tends
to be stickier than goods inflation. That's rising. That's bad news.
Even outside energy costs, other housing costs continue to rise,
and that's very much front and center when it comes
to cost of living pressures.
Speaker 1 (02:08):
It's extraordinary, isn't it When you get a result like
we had yesterday. You see the reaction play out really
really quickly across markets, across the Aussie dollar, everywhere.
Speaker 2 (02:18):
Really what happened on markets moved immediately. They're pricing in
just a twenty three percent chance of another rate cut
by the middle of next year. It was about double
that level ahead of the release of the data. The
Aussie dollar jumped against the greenback to be buying more
than sixty five US cents. With rates expected to fall
in the US, not change here in Australia, maybe even
go up. The local currency should be supported in the
(02:41):
short term at least. Federal treasure Jim Chalmers, not really happy,
said inflation is higher than the government would like, but
added the price moves were partly being driven by temporary factors.
He was trying to put on a good news face.
There was no good news in It's a hard one
to spin, isn't Itally the October reading yesterday was the
first complete monthly set of figures. It's going to replace
(03:04):
the quarterly set of figures. Market economists did say they're
going to be more volatile over the next year or so,
so you don't get seasonally adjusted figures in some areas.
That'll take twelve months to kick in. Even so, several
basically came out and said a rate hike is now
a real possibility next year.
Speaker 1 (03:27):
And Ubs and Baron, Joey and I like good economists. Yeah,
this is not a good sign. Well, Michael, I'm self interest.
I'm thinking about my mortgage. It is not a good
sign for me.
Speaker 2 (03:40):
That's very true.
Speaker 1 (03:41):
Yeah, Okay. The share market, what was the response.
Speaker 2 (03:45):
There plenty going on in the market. Initially, it opened
much higher yesterday, more than one percent, following a strong
leading for maure Street. The inflation data hit at eleven
thirty am, market fell sharply. Interest rate sensitive stocks hit most.
Then for most of the rest of the sets, the
market regained ground. The S and PA six two hundred
eventually closed up zero point eight percent to eighty six
(04:05):
hundred and seven points. Materials, consumer discretionary, health care indicies
did best. The materials and consumer discretionary certainly helped. Well,
that's true. Consumert discretionary shouldn't be helped by that interest
rate news, but there you go. Anyway, we had some
pretty good retail figs out yesterday from Harvey Norman, which
we'll get to. Maybe that helped that one, along utilities,
(04:27):
tech and telcos underperformed all right.
Speaker 1 (04:30):
Now in politics, the Labor government, including Prime Minister Anthony Alberanezi,
was last night in talks with the Greens and the
Coalition over the passage of new environmental legislation.
Speaker 2 (04:41):
Environment and Water Minister Murray What headed the negotiations with
both the Greens and the Coalition, though later in the
day Prime Minister Anthony Albanezi got involved. The government negotiated
with both groups. What offered the coalition five changes, including
retaining existing approval pathways for certain medium sized projects, imposing
a fourteen day cap on stockw stop work orders imposed
(05:02):
by the new Environment Protection Authority, and clarification around penalty orders.
Now the amendments of the Greens, they were more around
removing fossil fuel projects from fast track approval pathways and
ensuring they could not be subject to a new national
interest exemption from environmental laws.
Speaker 1 (05:19):
Plenty still to come. Sean will be back in a
moment with the rest of the day's business news Shawn.
The gap between the best and worst superfunds in terms
of servicing members is widening, according to regulators, a situation
that has really become critical with two and a half
(05:41):
million people expected to retire over the next decade.
Speaker 2 (05:45):
Assek and Apri yesterday released a review of the supersector
and warned that too many superfunds have put retiree savings
at risk because service levels remain poor. It is particularly
relevant because so many people are approaching retirement they need help.
Speaker 1 (06:00):
Well.
Speaker 2 (06:00):
There was legislation introduced three years ago that forced funds
to come up with strategies for their retiring members. Now
those strategies and advice are supposed to help members plan
for the decades in their retirement. While some super funds
are doing more to help people at retirement age, a
bunch of others are not. The gap between good and
(06:20):
bad is widening, and the regulators are not happy.
Speaker 1 (06:24):
You do discuss this today in Fear and Greed Q
and A with Asset Commissioner Simone Constant.
Speaker 2 (06:29):
Yes, so we talked to someone about a couple of things,
a private credit report that came out a few weeks
back and what that means for private credit for investors.
Then we move on to what came out yesterday just
about the gap between the best and worth super funds.
Great chat.
Speaker 1 (06:43):
Yeah, it really is it's worth sticking around for us
coming up after the show, Harving Norman. You mentioned this earlier.
You teased us with it. The reported solid sales growth
while online retailer Temple and Webster has disappointed. Wow, what
a result yesterday, continuing the run of mixed results for retailers.
Speaker 2 (07:03):
That's right, So, Harvey Norman posted a nine point one
percent increased in aggregate sales revenue from July one to
over twenty, like for like sales are up eight percent
a bit over that. Harvey Norman operates across Australia, New Zealand, Slovenia,
Croatia Island, the UK. It's got partnerships in Singapore and Malaysia.
It triggered a big jump in Harvey Norman's share price,
one of the best of the ASEX two hundred yesterday
(07:26):
at Temple and Webster. Notwithstanding an eighteen percent jump in
revenue during the period, the outcome very much disappointed investors.
This share price fell I think was thirty percent or
something by the end of it. Unlike many retailers, December
is a quiet month for Temple and Webster. People focus
online Christmas presents, not tables. That's exactly right, specifically tables.
Speaker 1 (07:47):
I don't know that game. You didn't you? Yeah, you're
a big Temple and mid Yeah.
Speaker 2 (07:53):
I haven't bought there recently, but when we were renovating
that big big fans of Temple and Webster and I
like their stuff.
Speaker 1 (07:59):
But it's just kind of.
Speaker 2 (08:00):
Cool, how you think all retailers who'd win at Christmas
but not doumblone, w.
Speaker 1 (08:04):
Okay, now Brookfield and GIC, the SINGAPOOREI and Sovereign Wealth
Giant are forming a consortium to bid for National Storage,
which is the real estate business that owns a string
of well as you would guest, self storage sites across
the country.
Speaker 2 (08:19):
Media reports suggests the bid will be three point two
billion dollars. National Storage went into a trading halt yesterday
and now recently a consortium bid two point three million
dollars for Avacus Storage King. That business self storage very
big business at the moment. In fact, I know the
guys that started Storage King really yeah. They both worked
for Jim Miller Miller's Storage and they went out on
(08:41):
their own. One has very sadly passed away since thenbody
they sell to pro Equity and they did very well
from themselves great service. And I remember that the guy's
name was Michael Tate, who the surviving member, and he's
a young man still Michael, but he was a great
one for service. And he said, you think about storage,
(09:04):
people want good service, and say to the people that
you know owned those the big sheds around the country, yep,
service them, service people. And they did really well.
Speaker 1 (09:15):
Out of it on them. And they've become really high
tech the storage centers, because we've been using one that's
a fairly new. Bill got the technology involved in all
of those. It is incredible. You just kind of think storage,
You think kind of a dusty shed. You lock it
up in a way you go, no, no, no, The security
all of this stuff top notch.
Speaker 2 (09:34):
The dusty shed, lock it away. I love that TV show.
I can't remember the name of it, but you know
they go and buy the contents of the sheds.
Speaker 1 (09:42):
Yeah yeah, and they can find all kinds of things.
And he might buy the entire thing for five hundred
bucks and find a chest full of rubies.
Speaker 2 (09:49):
Yeah. I don't think that's ever happened, but they could.
I think.
Speaker 1 (09:52):
I'm still thinking about the shipwreck from yesterday. Yeah, that
worth fifteen billion pounds anyway, Well, we went off topic.
Woodside Energy has done a deal with the Team or
Less Petroleum Ministry to progress an LNG project for the
Southeast Asian nation.
Speaker 2 (10:09):
Very significant for Team or Less. The complex, which would
cost several billion dollars based on similar projects, would involve
a five million one per year LNG plant, a domestic
gas facility in a helium extraction unit. Previously called the
Sunrise development now called TLNG. Production could start as early
as the early twenty thirty two. Basically, the deal comes
(10:32):
after Woodside dropped its insistence that gas from the Team
or Sea field be developed through an existing L and
G hubin Darwin. The Team or lest government, which aids
the majority stake in Sunrise, it brought out Shell and
Connaco Phillips twenty eighteen. I think it argues that gas
must be piped to a plant on its southern coast,
generating jobs and economic activity. Basically, it looks like it's
(10:53):
getting the go ahead.
Speaker 1 (10:54):
Okay. One for the travelers Sean, that's really most of us,
isn't it. Flight Center Travel Group has launched World three
sixty Rewards, which is a new national loyalty program that
offers points on every travel booking across its brands and
more than three hundred partner companies. It's quite big.
Speaker 2 (11:12):
Yes, free to join. You can earn these World three
sixty rewards and flights, hotels, cruises, tours, etc. Basically you
can stack your awards alongside your airline frequent flights, you know,
one or the other like that, you can there's a
paid member here. Now I get that this sounds like
I'm a promo for flight Center and I'm not under
(11:34):
any Absolutely not right. But the point is consumers can
shop around big time and they get some pretty good
benefits at the moment. So right now, global airlines have
a massive Black Friday saline. Oh Michael, you're geting very excited.
Speaker 1 (11:48):
About No, I'm getting this is my gripe. I saw
the story yesterday about all of the big airline international
flights Black Friday markdowns quantus. I think Emirates might have
been doing all of these, yep, And so I thought,
you know what, we're planning on going to the US
in October of next year. Jumped on. Somehow the flights
(12:08):
that iwan have actually gone up on RICE and so
I am the only one that does not benefit from
Black Friday so I am protesting and not booking anything.
Speaker 2 (12:18):
Point is, look around, shove around, you can get some
good deals.
Speaker 1 (12:21):
Thanks turn into International News Now. Sean and US President
Donald Trump will send Special Envoy Steve Whitkoff to meet
Russian lead of Vladimir Putin in Moscow in another push
to secure a peace plan to end the Kremlin's war
in Ukraine.
Speaker 2 (12:35):
The US president said he's negotiated had made tremendous progress
in ending the war, but he would wait until a
deal was within reach before meeting Ukraine's leader, Vladimir Zelenski
and Putin. Trump's remarks came just hours after Russia's signal
it could reject a modified US peace plan to end
the war if the proposal did not satisfy Moscow's long
standing demands, even as Kiev indicated it had agreed a
(12:59):
frame work with Washington. According to The Financial Times Now,
the initial twenty eight point planned significant concessions to Russia
sparked deep alarm among officials in Europe and Ukraine. Trump
earlier in the week said that the plan had been
drafted by the United States and had been fine tuned
with additional input from both sides. He added that there
are only a few remaining points of disagreement. I think
(13:21):
we will only know whether that's the case when we
hear from the leaders of the two countries Russia and Ukraine.
Speaker 1 (13:29):
All Right, we are finally there, Sean, it is time
to talk parking meters. A parking inspector and his wife
have been arrested on suspicion of in Bezley more than
a million euros or about two million dollars from a
small German towns parking meters. It wasn't even from a
big city, so.
Speaker 2 (13:50):
The municipal employees thought to have taken coins out of
parking meters in the town of Kempton. I quote on
numerous occasions.
Speaker 1 (13:59):
I would assume it's not all in one go and.
Speaker 2 (14:02):
Plays them in bank accounts that his wife had access to.
Now local police are saying well, a money laundering report
by a credit institution alerted investigators to the suspected theft.
The inspector faces charges relating to seven hundred and twenty
alleged incidents of theft, same number as his wife is
facing seven hundred and twenty to get a million euros.
Speaker 1 (14:25):
That's it's still a big bags, Still a big bag.
Of coins that you are lugging into the bank, and
surely the bank would get a bit suspicions. Here he
comes Wolfgang again with his bag of coins.
Speaker 2 (14:38):
He knocked over. The Kempton Public Prosecutor's Office was in
form that cash was repeatedly being deposit into several bank accounts,
according to German news agencies DPA. As reported on the BBC,
police then searched office premises in the early sorry search
the officers premises in the early hours of twenty four
November same day. A forty year old man your old
(14:59):
woman was a red. I like the end of the story.
It's not clear how long it might have taken the
couple to accrue the sun. A long time, That's what
I'd say.
Speaker 1 (15:10):
That is a fantastic story. Good way to finish up.
Next is the Fear and Greed Q and A Today.
Sean we mentioned before, Simone, constant Asset Commissioner is your
guest today. It's a great chat. It's coming up in
the Fear and Greed playlist on your podcast platform or
at Fearangreed dot com doodau, which is also where you
sign up for the free daily newsletter. I'll also put
(15:30):
a link to that one in today's show notes, so
it's nice and easy to sign up. Thank you, Sean.
Speaker 2 (15:34):
Thanks Michael.
Speaker 1 (15:34):
It's Thursday, the twenty seventh of November twenty twenty five.
Make sure you're following the podcast and please join us
online on LinkedIn, Instagram, ex TikTok and Facebook. I'm Michael
Thompson And that was Fear and Greed. It a great day.
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