September 23, 2025 • 17 mins
Wednesday 24 September 2025
Myer’s share price tumbles 25 per cent as the once leading retailer’s profit takes a dive.
And more, including:
- Prime Minister Anthony Albanese’s speech supporting Palestinian statehood triggers an internal split.
- US comedian Jimmy Kimmel is back on air.
- Climate Change Minister Chris Bowen says climate denialism is alive and well.
- Nvidia’s ingenious business model – buy into a company and then sell them billions of dollars worth of micro chips.
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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.
Meyer's share price tumbles twenty five percent as the once
leading retailer's profit takes a dive. Prime Minister Anthony Albanezi's
speech supporting Palestinian statehood triggers an internal split, and US
comedian Jimmy Kimmel is back on air. Plus, Climate Change
Minister Chris Bowen says climate denialism is alive and well.
(00:28):
And Nvidia's ingenious business model buy into a company and
then sell them billions of dollars worth of microchips. It
is Wednesday, the twenty fourth of September twenty twenty five.
I'm Michael Thompson and good morning Sean Aylmer.
Speaker 2 (00:40):
Good morning Michael. Something for everyone this morning.
Speaker 1 (00:43):
Yeah, big show today. The main story this morning. Sean
Meyer's share price tumbled twenty five percent yesterday after the
department store announced a thirty percent drop in profit, demonstrating
that really, not all discretionary retailers are benefiting from the
economic pickup.
Speaker 2 (00:58):
The biggest drag on my profit was apparel Brands, a
port folow of retailers including just Jen's, Portman's, Dottie JJ's,
and Jackie that the group acquired from Solomon Loo's premier
brands early in the year. Now, the bottom line profit
of under thirty seven million dollars for the twelve months
to the end of July was way below market expectations.
Maya axed its dividend. Chief executive Olivia Worth, who until
(01:21):
last year was running Quantus's frequent flyer program, said it's
been a year of transition and the companies on the
way to becoming a successful operator of multiple brands. Maybe,
but investors are wondering whether the legacy department store can
keep up with more nimble, specialist bricks and mortar retailers
and online competitors. Worth said the growth of the new
brands would take time, and that their integration into the
(01:42):
Maya One loyalty program would give the company a better
pulse on what customers want and help to attract new customers. Now,
so far, those brands really have struggled. Apparel brand sales
for zero point seven percent. That's during the six months
that Maya has owned them. The group's also having all
sorts of problems with its national distribution center. The good news,
(02:03):
I suppose, is that trading for the first six weeks
of the new financial year is actually above expectations. The
probably most disturbing thing about yesterday's report miset. It's also
been hit with a jump in theft and violent behavior,
and the company has had to add security to its stores.
Incidents of threatening behavior rose seventy nine percent last financial year,
well antisocial behavior, which includes aggressive behavior physical abuse, increased
(02:27):
by eleven percent. It's part of a wave of increased
theft in the retail sector. Bureau of Stats figures recently
released showed theft hit a twenty one year high last year,
with Victoria hardest hit.
Speaker 1 (02:39):
Just going back slightly to what she said there with
Olivia Worth talking about the integration of those new brands
into the Maya one loyalty program and what the company
is going to be able to learn from that in
terms of being able to sell more directly to customers.
It's kind of one of those things that you almost
you want that to be allowed to play out, because
Olivia Worth headed up Quantus's frequent flyer program for so long.
(03:02):
She knows these reward programs so well, and that if
anyone's going to be able to use that data effectively,
it's going to be her.
Speaker 2 (03:11):
Right, yes, but she's a long way behind she starts.
You know, she's the back marker. Well and truly you
think of Template and Webster. Its share prices up about
one hundred percent over the last year because that online
retailer has done a great job getting its supply chain
sorted and working and using the data it's getting from customers.
So I totally think Livia Worth is a sort of
(03:32):
a quality executive. She did a great job at Frequent Fliers,
but wow, she's starting with a legacy department store and
that's hard.
Speaker 1 (03:39):
Yeah, certainly is. Now we know obviously that the economy
is improving, maya not doing so well. What real retail
stocks are actually going well? Well?
Speaker 2 (03:50):
Actually, whoops, there is a standout, as I mentioned just then.
The other real standout is Eagers Automotive, which is the
car dealership. It's up nearly one hundred and seventy percent
over the past year. If you look bigger, we's Farmers
that's doing really well, and much of that is on
the back of sales at Bunnings. Now, that company's worth
more than one hundred billion dollars nowadays, a top five
company on the ax JB, Hyphi and Harvey Norman. They're
(04:13):
both up more than fifty percent over the past year.
Compare that to Meyer, it's down fifty percent over the
past year. It was trading about a buck twenty or
even above that in December. It's now about forty eight cents.
So really it's got a long way to make up.
Speaker 1 (04:28):
Meyer, Yeah, certainly does okay. Moving away from retail now
sean to politics. The fallout from Australia's decision to recognize
Palestinian statehood, including a snub for Prime Minister Anthony Abernezi
from Donald Trump, has sparked a bit of dispute between
the Coalition and the ALP on foreign policy, which is
(04:49):
an area really where there is usually bipartisan support. Traditionally,
both parties work pretty well together when it comes to
foreign policy.
Speaker 2 (04:57):
Generally they do Opposition Leader Susan Lee, though she's so
gided with Israel and ate two twenty five Republican members
of Congress, voicing her opposition to the move, saying a
coalition government would rescind the decision. Even on this issue,
which is probably more partisan than many other foreign policy issues,
that is relatively extreme what she's done. She also spoke
(05:17):
to the Israeli foreign minister to pledge solidarity with the
Jewish state, leading Foreign Minister Pennywong to accuse her of
running a rogue foreign policy. Earlier in the day, the
Trump White House had criticized Australia and its allies for
moving ahead with recognition of a Palestinian state, and also
confirmed that the US President has no plans to meet
Alberizi this week. Now, Albanzi might get a handshake and
(05:39):
a quick chat with trumpet a function for more than
one hundred world leaders this morning, but that'll be the
best of it. In his speech to the UN on
the issue, Albanez he said Israelis were already headed towards
annexation with the expansion of illegal settlements, the displacement of
Palestinians and increased settler violence. He said such conduct puts
a two state solution beyond reach. Any recognition means people
(06:01):
can have a place they can call home, as was
once longed for by persecuted Jewish people.
Speaker 1 (06:06):
So there might be a quick chat then between the
PM and the President. But that's so. This is the
second snub, now, isn't it? After the one on the
sidelines of the G seven when Trump had to fly home,
and so the big planned meeting, or the much talked
about potential meeting never happened, and now another one that
we thought might have been going to happen has not happened.
(06:29):
Do you start to take it personally if you're the PM.
Speaker 2 (06:34):
I mean, what the government said yesterday was that there
are plenty of other opportunities later in the year for
the two to meet. I don't like the word snub.
I have a real thing against it, because I mean
Trump went home early previously at the G seven, at
the Yun, I mean, did he snub him? Maybe he
snubbed him, But like stub sort of suggests that Donald
(06:56):
Trump is being very proactive in not many Albanize I
think Donald Trump's just running his own race.
Speaker 1 (07:01):
Now.
Speaker 2 (07:01):
I'm not standing up for Albanize in you know, they
should have met by now, so no argument's there. It's
still like the word snub.
Speaker 1 (07:07):
Michael, Okay, all right, Well, let's remove it from the
fear and greed vocabulary for the next twenty four hours,
though guarantees it won't be backing by the end of
the week. Though it's Wednesday, Sean, which means it is
time for Business by Numbers. The top three numbers to
know for the week, brought to you by Zero check
out zero at zero dot com, slash au. Give us
the first number, Sean.
Speaker 2 (07:28):
Twenty five percent. That's how much my share price felle
after a disastrous full year profit.
Speaker 1 (07:35):
Okay, what's number two?
Speaker 2 (07:36):
Two trillion US dollars.
Speaker 1 (07:40):
What's that one?
Speaker 2 (07:41):
It's the amount of money being spent on renewable energy globally.
Chris Bowen mentioned it. We'll talk about that in a moment.
Speaker 1 (07:47):
Oh wow. And the last one is it the gold price? Sean?
Speaker 2 (07:50):
It is three thousand, seven hundred and forty nine dollars
and twenty seven cents all in US dollars per ounce
the peak price of gold reached yesday.
Speaker 1 (08:00):
That is staggering. This thing just keeps on going, doesn't it.
Speaker 2 (08:03):
Yeah, sure does, all right.
Speaker 1 (08:04):
Anyway, they are the top three numbers to know for
the week. That is Business by Numbers, brought to you
by Zero. A quick Breaksean. We'll be back in a
moment with the rest of the day's business news. Sean.
Climate Change and Energy Minister Chris Bowen says climate denialism
(08:26):
is still alive in the world, but has taken on
different forms.
Speaker 2 (08:29):
Speaking of the New York Climate Week event on the
sidelines of the UN General Assembly, Bowen said one new
form of climate denialism is all too hardism, which basically
asks why should we do this when the rest of
the world isn't moving. Bowen said that deniers and delayers
are trying to argue that the world is not proceeding
with action on climate change. He said it isn't true.
(08:50):
Two trillion dollars of investment going into renewable energy, that's
twice the amount going into fossil fuels. At the moment.
The world's undertaking the transition at a very rapid pace,
according to Bowen, He said renewables will overtake coal as
the largest source of energy globally sometime this calendar year.
He said that the growth of solar and batteries are
(09:11):
transforming Australians into prosumers p r O, s u M eers,
pro humors, producers and consumers of electricity at the same time.
Quite like that.
Speaker 1 (09:22):
Okay, hang on, you can't hate, snub and love prosumers.
You can't pick and choose which words we're going to adopt.
Speaker 2 (09:29):
Hearshean, I'm going to snub that particular comment and run
with prosumers go on.
Speaker 1 (09:33):
It has been snubbed. Now. The comments from Chris Bowen
come after the Climate Change Authority last week warned of
dire consequences and they were extremely dire consequences that we
outlined last week. That's if global warming continues. One sector
who thinks those warnings are perhaps a little extreme and
the government's new emissions targets goals are too aggressive. It's
(09:56):
the auto traders.
Speaker 2 (09:57):
Probably not a surprise, but they have a point. Federal
Chamber of Automotive Industry's chief executive, Tainey Webers said demand
is not there for Australians to buy evs at the
rate required for the Albanezi government to meet his twenty
thirty five emissions reduction target. Now the Authority has assumed
fifty percent of car sales will be electric by twenty
thirty five, Weber says the problem is that consumers still
(10:17):
preferred internal combustion engines, so we're not going to get
to that fifty percent level. You and I have recently
driven in ev and it was one of the great
experiences driving experiences I've had. However, range anxiety is a
real thing and I think until that's settled, it is
going to be hard to get people picking up EV's.
(10:38):
I think once you drive an EV you love it.
You've just got to overcome that range anxiety. Now.
Speaker 1 (10:45):
Queensland Premiere Sean David chris A fully says Glencore should
change its business model to ensure the survival of its
Mount Isa copper smelter. These state and federal government are
continuing to negotiate over a bail outpack for the struggling facility.
This has been going on for a little while.
Speaker 2 (11:03):
It has chris The fully says the state will do
everything it can to get a deal done, but companies
should not expect to transfer their liabilities onto the state government.
According to report in the fin Review, a bipartisan taxpayer
bailout of the Mount ISAA copper smelter has been formally
put to glen Core Swiss Company, after the Federal Labor
Government and Queensland's Coalition government united behind a joint offer
(11:24):
for the loss making asset. Chris of fully said the
viability of the Mount Isa smelter will have ramifications throughout
north and northwest Queensland.
Speaker 1 (11:31):
All right, just a quick check of local markets yesterday
what happened, Sean.
Speaker 2 (11:35):
This PASX two hundred was up a bit finished eight thousand,
eight hundred and forty six points. Financial said, the way
the banks were all the big four banks were up
close to one percent. Big miners will hire. Probably the
day was all about gold. We mentioned that the price
of gold earlier and zero by numbers, it's a record high.
So the gold stocks flew on the back of that.
(11:57):
A couple of interesting little tit bits. Teelix Pharmaceuticals re
after it said that the United States Centers for Medicare
and Medicaid Services had granted transitional pass through payment status
for its prostate cancer imaging product. Good news for it.
And Dean Mince the somewhat mysterious founder chief executive of Setire,
the online luxury fashion retailer. He sort of stays out
(12:17):
of the lime light while he's increased his stake in
that company from just under thirty three percent to almost
thirty six percent. That sent its share price up twelve
percent on Wall Street.
Speaker 1 (12:26):
Sean, and Vidia isn't just worth a lot of money,
It's boss, Jensen Huang, has become a bit of a
king maker.
Speaker 2 (12:33):
Absolutely. Yesterday, Huang announced Nvidia had agreed to invest one
hundred billion US dollars to Open AI to help it
build and deploy at least ten gigawatts of Nvidia systems
to create the next generation of AI models. That's after
last week announcing Nvidia would invest five billion US into
arch rival Intel as part of the a deal where
the two companies will sell products to each other. Now
(12:55):
Intel's share price jump twenty three percent on that day.
In both cases, o Nvidia is basically investing in a
company and then those companies will spend mega dollars buying
Nvidia products. Starting to sound just a little bit circular
to me. The thing is market loves at an Nvidia
share price jump three point five percent, that's one hundred
and forty five billion US dollars, taking its market value
(13:17):
to four point five trillion dollars. So the memmoth circular
deals have already added more to Nvidia's market cap than
the end dollar value of the actual deals. Somehow, it
just it's like one plus one equals three and that
never is actually true.
Speaker 1 (13:33):
Yeah, yes, this is going to be one to watch.
It feels like we've kind of just merged seamlessly into
international news already Sean. But how about this one. Polish
Prime Minister Donald Tusk says his country is prepared to
shoot down foreign aircraft that cross into its territory without
authorization after a series of Russian incursions into NATO airspace.
Speaker 2 (13:54):
Poland's among North Atlantic Treaty Organization member states that have
responded to incursions of Russian aircraft this month, including three
mid thirty one jets that crossed into Estonian airspace over
the Gulf of Finland late last week. Poland, which moved
to shoot down drones that crossed into its territory earlier
this month, and Estonia both invoked Article four of NATO's treaty,
which triggers consultations and can open a path to coordinated
(14:17):
action among allies, according to Boomboo.
Speaker 1 (14:20):
Now I mentioned this next one in the afternoon report yesterday,
but it is worth mentioning again just giving it significance.
US President Donald Trump says doctors in the United States
will soon be advised not to prescribe the pain believer
THAILANDOL to pregnant women, citing a disputed link between the
drug and autism.
Speaker 2 (14:40):
So Trump claimed that the main ingredient in Thailand OL
the paracetamol is no good is how he put it,
and that pregnant women should only take it in cases
of extreme fever. Now, some studies have shared a link
between pregnant women taking Tolanol and autism, but these findings
are inconceiit and inconclusive. Thailand oil maker Kenvu said the
(15:04):
medicine's active ingredient is the safest pain reliever option for
pregnant women, and without it, women face a dangerous choice
between suffering through conditions like fever or using riskier alternatives. Now,
after Trump's comments yesterday, the Therapeutic Goods Association in Australia
released the statement saying paracetamol remains a pregnancy Category A drug,
(15:25):
meaning it is considered safe to use in pregnancy.
Speaker 1 (15:28):
It just it feels quite extraordinary this one. The fact
is that, yes, there have been some studies that show
a link between taking thailand Ol and autism. There's been
some studies that have shown a link between taking thailand
Ol and not getting autism or developing autism, and then
there have been some studies that show no connection whatsoever.
There are studies all over the place, and there is
(15:49):
a lack of a very clear causal link between them,
and this is why I think a lot of doctors
are quite alarmed over the President making their statement yesterday
with the RFK there at his shoulder too. Speaking of
the US and a US politics, comedian Jimmy Kimmel is
returning to his late night talk show after who was
suspended for making jokes relating to the death of conservative
(16:12):
influencer Charlie Kirk.
Speaker 2 (16:14):
Disney, which owns the US broadcast network that is Jimmy
Kimmel Live, said it suspended the show because it felt
some of the comments were ill timed and thus insensitive.
The comics abrupt suspension came after threats by the federal
TV regulated to revokes ABC's broadcast license, sparking nationwide debate
over free speech. According to the BBC, US President Donald
(16:35):
Trump had welcomed Kimmel's suspension and suggested that some TV
networks should have their licenses taken for negative coverage of
the president. He wasn't commenting on the fact that Kimmel's
back on air.
Speaker 1 (16:45):
Okay, up next to his fear and greed. Q and
A should have mentioned this ages ago, Sean, But you're
speaking today to Roger Montgomery, who is of course the
founder and chief investment officer at Montgomery Investment Management, and
he's talking all about Meyer and retailers.
Speaker 2 (16:58):
Yes, it's a great chats. Roger. We go into depth
about what, you know, the problems Mayer is having, and
then look at some of the other stocks like Jbhi Fi, Harvey,
Norman and kind of he assesses why they're doing well
and Myer's not.
Speaker 1 (17:12):
Yeah, Roger's terrific. It's coming up next in the Fear
and Greed playlist on your podcast platform or at Fearandgreed
dot com todayu which is where you sign up for
our free daily newsletter. Thank you Sean, Thank you Michael.
It is Wednesday, the twenty fourth of September twenty twenty five.
Make sure you're following the podcast and please join us
online on LinkedIn, Instagram, x TikTok and Facebook. O'm Michael
Thompson and that was Fear and Greed. Have a great day.
Welcome to Fear and Greed business news you can use today.
Meyer's share price tumbles twenty five percent as the once
leading retailer's profit takes a dive. Prime Minister Anthony Albanezi's
speech supporting Palestinian statehood triggers an internal split, and US
comedian Jimmy Kimmel is back on air. Plus, Climate Change
Minister Chris Bowen says climate denialism is alive and well.
(00:28):
And Nvidia's ingenious business model buy into a company and
then sell them billions of dollars worth of microchips. It
is Wednesday, the twenty fourth of September twenty twenty five.
I'm Michael Thompson and good morning Sean Aylmer.
Speaker 2 (00:40):
Good morning Michael. Something for everyone this morning.
Speaker 1 (00:43):
Yeah, big show today. The main story this morning. Sean
Meyer's share price tumbled twenty five percent yesterday after the
department store announced a thirty percent drop in profit, demonstrating
that really, not all discretionary retailers are benefiting from the
economic pickup.
Speaker 2 (00:58):
The biggest drag on my profit was apparel Brands, a
port folow of retailers including just Jen's, Portman's, Dottie JJ's,
and Jackie that the group acquired from Solomon Loo's premier
brands early in the year. Now, the bottom line profit
of under thirty seven million dollars for the twelve months
to the end of July was way below market expectations.
Maya axed its dividend. Chief executive Olivia Worth, who until
(01:21):
last year was running Quantus's frequent flyer program, said it's
been a year of transition and the companies on the
way to becoming a successful operator of multiple brands. Maybe,
but investors are wondering whether the legacy department store can
keep up with more nimble, specialist bricks and mortar retailers
and online competitors. Worth said the growth of the new
brands would take time, and that their integration into the
(01:42):
Maya One loyalty program would give the company a better
pulse on what customers want and help to attract new customers. Now,
so far, those brands really have struggled. Apparel brand sales
for zero point seven percent. That's during the six months
that Maya has owned them. The group's also having all
sorts of problems with its national distribution center. The good news,
(02:03):
I suppose, is that trading for the first six weeks
of the new financial year is actually above expectations. The
probably most disturbing thing about yesterday's report miset. It's also
been hit with a jump in theft and violent behavior,
and the company has had to add security to its stores.
Incidents of threatening behavior rose seventy nine percent last financial year,
well antisocial behavior, which includes aggressive behavior physical abuse, increased
(02:27):
by eleven percent. It's part of a wave of increased
theft in the retail sector. Bureau of Stats figures recently
released showed theft hit a twenty one year high last year,
with Victoria hardest hit.
Speaker 1 (02:39):
Just going back slightly to what she said there with
Olivia Worth talking about the integration of those new brands
into the Maya one loyalty program and what the company
is going to be able to learn from that in
terms of being able to sell more directly to customers.
It's kind of one of those things that you almost
you want that to be allowed to play out, because
Olivia Worth headed up Quantus's frequent flyer program for so long.
(03:02):
She knows these reward programs so well, and that if
anyone's going to be able to use that data effectively,
it's going to be her.
Speaker 2 (03:11):
Right, yes, but she's a long way behind she starts.
You know, she's the back marker. Well and truly you
think of Template and Webster. Its share prices up about
one hundred percent over the last year because that online
retailer has done a great job getting its supply chain
sorted and working and using the data it's getting from customers.
So I totally think Livia Worth is a sort of
(03:32):
a quality executive. She did a great job at Frequent Fliers,
but wow, she's starting with a legacy department store and
that's hard.
Speaker 1 (03:39):
Yeah, certainly is. Now we know obviously that the economy
is improving, maya not doing so well. What real retail
stocks are actually going well? Well?
Speaker 2 (03:50):
Actually, whoops, there is a standout, as I mentioned just then.
The other real standout is Eagers Automotive, which is the
car dealership. It's up nearly one hundred and seventy percent
over the past year. If you look bigger, we's Farmers
that's doing really well, and much of that is on
the back of sales at Bunnings. Now, that company's worth
more than one hundred billion dollars nowadays, a top five
company on the ax JB, Hyphi and Harvey Norman. They're
(04:13):
both up more than fifty percent over the past year.
Compare that to Meyer, it's down fifty percent over the
past year. It was trading about a buck twenty or
even above that in December. It's now about forty eight cents.
So really it's got a long way to make up.
Speaker 1 (04:28):
Meyer, Yeah, certainly does okay. Moving away from retail now
sean to politics. The fallout from Australia's decision to recognize
Palestinian statehood, including a snub for Prime Minister Anthony Abernezi
from Donald Trump, has sparked a bit of dispute between
the Coalition and the ALP on foreign policy, which is
(04:49):
an area really where there is usually bipartisan support. Traditionally,
both parties work pretty well together when it comes to
foreign policy.
Speaker 2 (04:57):
Generally they do Opposition Leader Susan Lee, though she's so
gided with Israel and ate two twenty five Republican members
of Congress, voicing her opposition to the move, saying a
coalition government would rescind the decision. Even on this issue,
which is probably more partisan than many other foreign policy issues,
that is relatively extreme what she's done. She also spoke
(05:17):
to the Israeli foreign minister to pledge solidarity with the
Jewish state, leading Foreign Minister Pennywong to accuse her of
running a rogue foreign policy. Earlier in the day, the
Trump White House had criticized Australia and its allies for
moving ahead with recognition of a Palestinian state, and also
confirmed that the US President has no plans to meet
Alberizi this week. Now, Albanzi might get a handshake and
(05:39):
a quick chat with trumpet a function for more than
one hundred world leaders this morning, but that'll be the
best of it. In his speech to the UN on
the issue, Albanez he said Israelis were already headed towards
annexation with the expansion of illegal settlements, the displacement of
Palestinians and increased settler violence. He said such conduct puts
a two state solution beyond reach. Any recognition means people
(06:01):
can have a place they can call home, as was
once longed for by persecuted Jewish people.
Speaker 1 (06:06):
So there might be a quick chat then between the
PM and the President. But that's so. This is the
second snub, now, isn't it? After the one on the
sidelines of the G seven when Trump had to fly home,
and so the big planned meeting, or the much talked
about potential meeting never happened, and now another one that
we thought might have been going to happen has not happened.
(06:29):
Do you start to take it personally if you're the PM.
Speaker 2 (06:34):
I mean, what the government said yesterday was that there
are plenty of other opportunities later in the year for
the two to meet. I don't like the word snub.
I have a real thing against it, because I mean
Trump went home early previously at the G seven, at
the Yun, I mean, did he snub him? Maybe he
snubbed him, But like stub sort of suggests that Donald
(06:56):
Trump is being very proactive in not many Albanize I
think Donald Trump's just running his own race.
Speaker 1 (07:01):
Now.
Speaker 2 (07:01):
I'm not standing up for Albanize in you know, they
should have met by now, so no argument's there. It's
still like the word snub.
Speaker 1 (07:07):
Michael, Okay, all right, Well, let's remove it from the
fear and greed vocabulary for the next twenty four hours,
though guarantees it won't be backing by the end of
the week. Though it's Wednesday, Sean, which means it is
time for Business by Numbers. The top three numbers to
know for the week, brought to you by Zero check
out zero at zero dot com, slash au. Give us
the first number, Sean.
Speaker 2 (07:28):
Twenty five percent. That's how much my share price felle
after a disastrous full year profit.
Speaker 1 (07:35):
Okay, what's number two?
Speaker 2 (07:36):
Two trillion US dollars.
Speaker 1 (07:40):
What's that one?
Speaker 2 (07:41):
It's the amount of money being spent on renewable energy globally.
Chris Bowen mentioned it. We'll talk about that in a moment.
Speaker 1 (07:47):
Oh wow. And the last one is it the gold price? Sean?
Speaker 2 (07:50):
It is three thousand, seven hundred and forty nine dollars
and twenty seven cents all in US dollars per ounce
the peak price of gold reached yesday.
Speaker 1 (08:00):
That is staggering. This thing just keeps on going, doesn't it.
Speaker 2 (08:03):
Yeah, sure does, all right.
Speaker 1 (08:04):
Anyway, they are the top three numbers to know for
the week. That is Business by Numbers, brought to you
by Zero. A quick Breaksean. We'll be back in a
moment with the rest of the day's business news. Sean.
Climate Change and Energy Minister Chris Bowen says climate denialism
(08:26):
is still alive in the world, but has taken on
different forms.
Speaker 2 (08:29):
Speaking of the New York Climate Week event on the
sidelines of the UN General Assembly, Bowen said one new
form of climate denialism is all too hardism, which basically
asks why should we do this when the rest of
the world isn't moving. Bowen said that deniers and delayers
are trying to argue that the world is not proceeding
with action on climate change. He said it isn't true.
(08:50):
Two trillion dollars of investment going into renewable energy, that's
twice the amount going into fossil fuels. At the moment.
The world's undertaking the transition at a very rapid pace,
according to Bowen, He said renewables will overtake coal as
the largest source of energy globally sometime this calendar year.
He said that the growth of solar and batteries are
(09:11):
transforming Australians into prosumers p r O, s u M eers,
pro humors, producers and consumers of electricity at the same time.
Quite like that.
Speaker 1 (09:22):
Okay, hang on, you can't hate, snub and love prosumers.
You can't pick and choose which words we're going to adopt.
Speaker 2 (09:29):
Hearshean, I'm going to snub that particular comment and run
with prosumers go on.
Speaker 1 (09:33):
It has been snubbed. Now. The comments from Chris Bowen
come after the Climate Change Authority last week warned of
dire consequences and they were extremely dire consequences that we
outlined last week. That's if global warming continues. One sector
who thinks those warnings are perhaps a little extreme and
the government's new emissions targets goals are too aggressive. It's
(09:56):
the auto traders.
Speaker 2 (09:57):
Probably not a surprise, but they have a point. Federal
Chamber of Automotive Industry's chief executive, Tainey Webers said demand
is not there for Australians to buy evs at the
rate required for the Albanezi government to meet his twenty
thirty five emissions reduction target. Now the Authority has assumed
fifty percent of car sales will be electric by twenty
thirty five, Weber says the problem is that consumers still
(10:17):
preferred internal combustion engines, so we're not going to get
to that fifty percent level. You and I have recently
driven in ev and it was one of the great
experiences driving experiences I've had. However, range anxiety is a
real thing and I think until that's settled, it is
going to be hard to get people picking up EV's.
(10:38):
I think once you drive an EV you love it.
You've just got to overcome that range anxiety. Now.
Speaker 1 (10:45):
Queensland Premiere Sean David chris A fully says Glencore should
change its business model to ensure the survival of its
Mount Isa copper smelter. These state and federal government are
continuing to negotiate over a bail outpack for the struggling facility.
This has been going on for a little while.
Speaker 2 (11:03):
It has chris The fully says the state will do
everything it can to get a deal done, but companies
should not expect to transfer their liabilities onto the state government.
According to report in the fin Review, a bipartisan taxpayer
bailout of the Mount ISAA copper smelter has been formally
put to glen Core Swiss Company, after the Federal Labor
Government and Queensland's Coalition government united behind a joint offer
(11:24):
for the loss making asset. Chris of fully said the
viability of the Mount Isa smelter will have ramifications throughout
north and northwest Queensland.
Speaker 1 (11:31):
All right, just a quick check of local markets yesterday
what happened, Sean.
Speaker 2 (11:35):
This PASX two hundred was up a bit finished eight thousand,
eight hundred and forty six points. Financial said, the way
the banks were all the big four banks were up
close to one percent. Big miners will hire. Probably the
day was all about gold. We mentioned that the price
of gold earlier and zero by numbers, it's a record high.
So the gold stocks flew on the back of that.
(11:57):
A couple of interesting little tit bits. Teelix Pharmaceuticals re
after it said that the United States Centers for Medicare
and Medicaid Services had granted transitional pass through payment status
for its prostate cancer imaging product. Good news for it.
And Dean Mince the somewhat mysterious founder chief executive of Setire,
the online luxury fashion retailer. He sort of stays out
(12:17):
of the lime light while he's increased his stake in
that company from just under thirty three percent to almost
thirty six percent. That sent its share price up twelve
percent on Wall Street.
Speaker 1 (12:26):
Sean, and Vidia isn't just worth a lot of money,
It's boss, Jensen Huang, has become a bit of a
king maker.
Speaker 2 (12:33):
Absolutely. Yesterday, Huang announced Nvidia had agreed to invest one
hundred billion US dollars to Open AI to help it
build and deploy at least ten gigawatts of Nvidia systems
to create the next generation of AI models. That's after
last week announcing Nvidia would invest five billion US into
arch rival Intel as part of the a deal where
the two companies will sell products to each other. Now
(12:55):
Intel's share price jump twenty three percent on that day.
In both cases, o Nvidia is basically investing in a
company and then those companies will spend mega dollars buying
Nvidia products. Starting to sound just a little bit circular
to me. The thing is market loves at an Nvidia
share price jump three point five percent, that's one hundred
and forty five billion US dollars, taking its market value
(13:17):
to four point five trillion dollars. So the memmoth circular
deals have already added more to Nvidia's market cap than
the end dollar value of the actual deals. Somehow, it
just it's like one plus one equals three and that
never is actually true.
Speaker 1 (13:33):
Yeah, yes, this is going to be one to watch.
It feels like we've kind of just merged seamlessly into
international news already Sean. But how about this one. Polish
Prime Minister Donald Tusk says his country is prepared to
shoot down foreign aircraft that cross into its territory without
authorization after a series of Russian incursions into NATO airspace.
Speaker 2 (13:54):
Poland's among North Atlantic Treaty Organization member states that have
responded to incursions of Russian aircraft this month, including three
mid thirty one jets that crossed into Estonian airspace over
the Gulf of Finland late last week. Poland, which moved
to shoot down drones that crossed into its territory earlier
this month, and Estonia both invoked Article four of NATO's treaty,
which triggers consultations and can open a path to coordinated
(14:17):
action among allies, according to Boomboo.
Speaker 1 (14:20):
Now I mentioned this next one in the afternoon report yesterday,
but it is worth mentioning again just giving it significance.
US President Donald Trump says doctors in the United States
will soon be advised not to prescribe the pain believer
THAILANDOL to pregnant women, citing a disputed link between the
drug and autism.
Speaker 2 (14:40):
So Trump claimed that the main ingredient in Thailand OL
the paracetamol is no good is how he put it,
and that pregnant women should only take it in cases
of extreme fever. Now, some studies have shared a link
between pregnant women taking Tolanol and autism, but these findings
are inconceiit and inconclusive. Thailand oil maker Kenvu said the
(15:04):
medicine's active ingredient is the safest pain reliever option for
pregnant women, and without it, women face a dangerous choice
between suffering through conditions like fever or using riskier alternatives. Now,
after Trump's comments yesterday, the Therapeutic Goods Association in Australia
released the statement saying paracetamol remains a pregnancy Category A drug,
(15:25):
meaning it is considered safe to use in pregnancy.
Speaker 1 (15:28):
It just it feels quite extraordinary this one. The fact
is that, yes, there have been some studies that show
a link between taking thailand Ol and autism. There's been
some studies that have shown a link between taking thailand
Ol and not getting autism or developing autism, and then
there have been some studies that show no connection whatsoever.
There are studies all over the place, and there is
(15:49):
a lack of a very clear causal link between them,
and this is why I think a lot of doctors
are quite alarmed over the President making their statement yesterday
with the RFK there at his shoulder too. Speaking of
the US and a US politics, comedian Jimmy Kimmel is
returning to his late night talk show after who was
suspended for making jokes relating to the death of conservative
(16:12):
influencer Charlie Kirk.
Speaker 2 (16:14):
Disney, which owns the US broadcast network that is Jimmy
Kimmel Live, said it suspended the show because it felt
some of the comments were ill timed and thus insensitive.
The comics abrupt suspension came after threats by the federal
TV regulated to revokes ABC's broadcast license, sparking nationwide debate
over free speech. According to the BBC, US President Donald
(16:35):
Trump had welcomed Kimmel's suspension and suggested that some TV
networks should have their licenses taken for negative coverage of
the president. He wasn't commenting on the fact that Kimmel's
back on air.
Speaker 1 (16:45):
Okay, up next to his fear and greed. Q and
A should have mentioned this ages ago, Sean, But you're
speaking today to Roger Montgomery, who is of course the
founder and chief investment officer at Montgomery Investment Management, and
he's talking all about Meyer and retailers.
Speaker 2 (16:58):
Yes, it's a great chats. Roger. We go into depth
about what, you know, the problems Mayer is having, and
then look at some of the other stocks like Jbhi Fi, Harvey,
Norman and kind of he assesses why they're doing well
and Myer's not.
Speaker 1 (17:12):
Yeah, Roger's terrific. It's coming up next in the Fear
and Greed playlist on your podcast platform or at Fearandgreed
dot com todayu which is where you sign up for
our free daily newsletter. Thank you Sean, Thank you Michael.
It is Wednesday, the twenty fourth of September twenty twenty five.
Make sure you're following the podcast and please join us
online on LinkedIn, Instagram, x TikTok and Facebook. O'm Michael
Thompson and that was Fear and Greed. Have a great day.
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