July 16, 2025 • 16 mins
Thursday 17 July 2025
Anthony Albanese characterises talks with China’s leaders as 'constructive' and highlights the respect Beijing is showing Australia.
And more, including:
- Rio Tinto gets a new boss
- The local share market records its worst day since May
- Oracle’s Larry Ellison becomes the world’s second richest person
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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.
Prime Minister Anthony Albanesi characterizes talks with China's leaders as
constructive and highlights the respect that Beijing is showing Australia.
The local share market records its worst day since May,
and National Australian Bank CEO Andrew Irvine is under fire
for his management style and drinking at client events. Plus
(00:29):
Rio Tinto gets a new boss, and Oracles Larry Ellison
becomes the world's second richest person. It's Thursday, the seventeenth
of July twenty twenty five. I'm Adam Lang and good morning,
Sean Ailmer.
Speaker 2 (00:40):
Good morning, Adam, Sean.
Speaker 1 (00:42):
The main story this morning. Prime Minister Anthony Albanesi says
the talks he has held with China's leadership have been
quote unquote really constructive, and the treatment he is receiving
is a sign of respect.
Speaker 2 (00:54):
Really constructive. A words mith, our Prime minister, no doubt
as a lyricist. He is in China for a six
day visit, and perhaps the most notable sign of respect,
as Albanizi put it, is that Premier Jijing Ping spent
two hours with him talking through the two countries' policies.
The Prime Minister had defended Australia's case by case assessment
of foreign investment into Australia. Now, China's Premier Lie Kwang
(01:18):
had complained that businesses were being treated unfairly because of
foreign investment restrictions. Albanesi said that the Darwin Port sale
had not come up in discussions, but it's fairly clear
that Li Kwang was talking about that, not that it
was mentioned. Albanzi reiterated that the government continues to support
a one China policy and by definition it doesn't support
(01:39):
any unilateral action on Taiwan. When asked about the business
roundtable held by Albanesi in Shanghai on Tuesday, he said
it came up with practical initiatives to aid the decarbonization
of China's steel industry.
Speaker 1 (01:52):
Shown beyond the serious business of international relations. Albanesi had
some time to stroll the Great Wall of China alongside
his fiance Joe Hayden, and he thanked the band the
previous Night's Dinner for playing Midnight Oil and Paul Kelly songs.
Speaker 2 (02:05):
And powder Finger and a bunch of others.
Speaker 1 (02:08):
Good band.
Speaker 2 (02:09):
The Prime Minister also paid homage to Goff Whitlam, who
visited China in nineteen seventy one as leader of the
Labour Party while in opposition. The next year, after being
elected Prime Minister, Whitlam recognized the People's Republic of China
in the way to the trade relationship we have today,
Albanizi said, Whitlam expanded Australia's horizons. He said the State
dinner on Tuesday night was a wonderful event. He think
(02:30):
thanked the band for learning and playing Paul Kelly's to
Her Door, Midnight, Owl's Power and the Passion and a
few others. I can see your smile here. Whenever it
comes to Australian music. You are a happy man.
Speaker 1 (02:43):
Well. I was wondering if the Prime Minister were his
radio Birdman t shirt if they honored it with the song.
Speaker 2 (02:48):
Possibly not. He had his rabbit O's cap on all
day yesterday, though.
Speaker 1 (02:52):
Very local sean to the local share market and the
good news on that local share market did not last long,
with the S and P ASX two hundred yesterday having
its worst one day loss since May, and that was
on the back of inflation fears in the USA.
Speaker 2 (03:06):
You win some, you lose, so quickly Yes and BISX
two hundred closed down to zero point eight percent two
eight thousand, five hundred and sixty two points. With the
financial struggling most that includes the big banks. National Australian
Bank was off three percent more on that in a moment,
Westpac was down one point six percent. Commonwealth Bank was
off more than one percent. The miners started lover, but
by the clothes BHP was down in line with the market,
(03:30):
but Rio and Fortescue Metals actually outperformed the market. The
textocs were the best of the lot, broadly speaking, including
Promedicus Zero and Aria Group gold Digger. Neumont fell six
percent after it sold its stakes in t North American
Mines and its CFO resigned. The drop on the ASX
followed a nine percent full on Wall Street the previous
(03:51):
night for the duelistic company Evolution Mining, also a goal company,
fell two percent, even though it reported significantly high cash
generation during the last six months, and when least drop
two percent after it announced plans to develop a two
and a half billion dollar luxury residential tower in Sydney, Sean.
Speaker 1 (04:06):
The CEO of National Australia Bank, Andrew Irvine, is under
scrutiny for his management style and drinking at client events,
with media reports saying investors have raised the issue with
the bank's board, so the.
Speaker 2 (04:17):
Bank's chairman, Phil Chronicken continues to support mister Irvine, according
to a National Australia Bank spokesperson, The AFR stories say
at least two large investors have questioned Irvine's behavior after
a lunch in Sydney last month. There's also disquiet about
the loss of National Australia Bank's Chief financial officer Nathan
Goonan in March. Now, I have no idea about the
(04:39):
racity of the story. I'm hesitant even to talk about it,
to be perfectly honest, but it's coming from a reputable
third party, which is the Financial Review. It's also in
the public realm now and the bank may well have
to do something more about it. So it was the
worst performing bank stock yesterday, dropping more than three percent
(05:00):
on the back of this story. So once again we
are not saying, you know, it's not my story. This
comes from a third party source, but it is actually
making a difference to its share price.
Speaker 1 (05:11):
Yeah, it's in the public domain. We'll be back in
a moment with the rest of the day's business news
Sean Rio Tinto has appointed its head of iron ore,
Simon Trott as the company's next chief executive, and he
will be busy with the global minus first half iron
ore exports falling to their lowest level in a decade.
Speaker 2 (05:34):
Trot will replace jakeb staus Home next month, who stepped
down in May, reportedly following strains between him and the board.
Rio has four main pillars, iron ore, copper, aluminum, and lithium.
Notwithstanding yesterday's production report for first half year, iron ore
really is the business that's performed best. The reason for
the week numbers last half year were four big storms
(05:57):
cyclone Tallia, Cyclone, cyclone Azelia and the well named Cyclone.
Sean correct, it was particularly strong that one well headstrong,
perhaps the bit of putting it. Investors are hoping trot
can shift his operational focus in the iron ore business
to other parts of the rear. The critics are saying
(06:19):
he's not a visionary, but what the what's the opposite
to critics quarters Yeah, advocaters, the advocates. The advocates are
like the fact that he can actually run a business.
The fifty year old was born in the West Australian
farming town of You're going to have to pronounce this
one Wickipen, southeast of Perth. Trot spent more than twenty
(06:41):
years at RIO, and before running the iron Ore division,
was the company's chief commercial officer. Rio's share price was
flat yesterday's down about six percent over the past year,
reflecting commodity prices more than anything Seawan.
Speaker 1 (06:53):
The Council of Financial Regulators, that very good named group
wants a new power for federal government or regulated to
step in and oversee cash in the economy if the
last remaining transport service, armor Guard collapses.
Speaker 2 (07:06):
The big yeuses of cash have been working with the
Reserve Bank and others to ensure cash continues to be
transported around the country. There are still some big uses
of cash. The problem is that there's not enough big
uses of cash and so it's almost uneconomic to transport
around the country. Commonwealth Bank, Westpac, National Australia Bank and
AMS Ed Colson, Woolies, Bunnings and Australia Posts all agree
(07:30):
to inject twenty five million dollars to keep Armor Guard
operating until the end of the year. We are kind
of now deliberating what comes next. The Council of Financial
Regulators is proposing an overhaul of how cash is managed
and distributed to give regulators much greater powers over crash
distribution services.
Speaker 1 (07:48):
It's a sign of generational change, isn't it that cash
is on this kind of life support commercial speak.
Speaker 2 (07:53):
So I'm trying to remember the numbers. I think was
one point five million people use cash for eighty percent
of their purchases, so there's still a lot of people. Yeah.
Speaker 1 (08:04):
Sean ken Henry, former Boss of Treasury and former chair
of National Australia Bank and the writer of the very
good twenty ten tax reform white Paper, which remains the
blueprint for change, says fixing environmental laws is more important
than tax when it comes to improving productivity.
Speaker 2 (08:20):
This has got Adam Lange all over this tax reform productivity.
Speaking at the National Press Club in Canberray yesterday, mister
Henry said the country's productivity challenge faces no greater imperative
than overhauling the Environment Protection and Biodiversity Conservation Act. Henry,
who's also chair of the Australian Clone and Biodiversity Foundation,
(08:41):
says new minds and processing plants for critical minerals, housing
and associated roads and infrastructure, as well as soul and
wind farms, and the requisite thousands of kilometers of transition
lines can't be loaded onto the broken EPBC. So the
Environment Protection Biodiversity Conservation Acts, assessment processes, its approval processes,
(09:02):
it's not fit for purpose. And so what he says
is that that needs to be redone and we need
a high quality national law to replace it that sets
clear environmental standards for major projects. A strong national decision
maker basically cut the red tape to let this stuff happen.
He is not saying that we don't need to look
after the environment. It's quite the opposite. But he just
(09:25):
says it just needs to be fit for purpose if
we want to improve productivity.
Speaker 1 (09:29):
What a cracking insight for you. I'm loving this reform talk.
Seawan Local rare Earth miners outperformed yesterday after Apple did
a US five hundred million dollar deal with the only
US Rare Earth's minor MP Materials to purchase magnets from
the company.
Speaker 2 (09:48):
Okay, stay with me on this one. So rare Earth
magnets are used in iPhones. Okay, first thing you need
to know. Second thing you need to know Rare earths,
which are actually seventeen different chemical elements, hence the plural
and earth. They're not very rare, in fact, they're all
over the place, but they're really difficult to process. Now
China processes more than half of all rare earths. The
(10:10):
US wants to find its own sources. So this company
MP materials that has been very, very popular recently. We
had the Apple deal yesterday. Last week, the Pentagon invested
in the company. Its share price has doubled or almost
doubled in the past week. What's that mean for the
local rare earth players. Well, investors think that companies like
(10:33):
a Luca Resources and Linus for rare earth could get
some of the reflected limelight benefit, and so they're buying
them up. Luca and Linus's share prices are up nearly
twenty five percent in the last week, for example. We'll
wait and see what happens there sewn.
Speaker 1 (10:47):
In state politics, Tasmanians go to the polls this weekend,
with Labor leader Dean Winter up against the Premier Jeremy Rockcliffe,
and a hung parliament seems the most likely outcome.
Speaker 2 (10:57):
Pole suggests the Liberals will win, which means Rockcliffe stays
as premier but will be short of majority. Yesterday, the
two faced off in a televised debate hosted on Sky News.
Rockcliffe and Winter clashed over healthcare, the state's debt, and
the controversial efforts to build a new AFL stadium at
mcquarie Point. Meanwhile, in New South Wales, independent MP and
former leader of Federal Labor Mark Latham is under fire
(11:19):
over allegations of threatening and coercive behavior from his former partner,
allegations he denies. Natalie Matthews made the allegations in an
application for an apprehended violence order against him. Latham dismissed
them as preposterous and will contest them in court.
Speaker 1 (11:34):
Sean in International News, US President Donald Trump says he
will impose a tariff on pharmaceuticals by the end of
the month before ramping it up over a year or so.
Speaker 2 (11:44):
He said the tariff will be low to begin with
to give the pharmaceutical companies time to relocate into the US. Then,
I quote, there are two ways you do it. You
make money or you have them move here so they
don't have to pay the tariff. Those are the two
ways the pharmaceutical companies are moving back to America where
they would be. Trump also said he had reached a
deal with Indonesia where that country will pay a nineteen
(12:05):
percent tariff, and a deal with Vietnam where it will
pay twenty percent, down from its initial forty six percent
impost Sean.
Speaker 1 (12:12):
Speaking of the US, inflation there rose last month to
its highest level since February as the impact of tariff
started to push up consumer prices.
Speaker 2 (12:20):
Really interesting significantly, the price rises came mostly in products
from overseas starting to be hit by the tariffs, so furniture, clothing,
large appliances. While it's only one month's reading, economists said
the outlook for inflation has certainly deteriorated. That means the
outlook is likely for higher price rises than that hoped.
Donald Trump's been very critical of FED chaireds your own
(12:42):
power for not cutting US interest rates. Powell has always
said he just wants to hold back and see what
happens as a result of tariff's before he does anything.
The data yesterday will stiffen the Fed's op opposition to
lower rates. Notwithstanding the figures, Trump's on social media called
on the FED to cut rates.
Speaker 1 (13:01):
Sean Larry Ellison is the world's second wealthiest person for
the first time ever, and this is according to the
Bloomberg Billionaires Index. As a rally in Oracle's share price
pushes his net worth to US two one hundred and
fifty one billion dollars, and in doing so, overtaking metaboss
mark Zuckerberg staggering number.
Speaker 2 (13:19):
Five hundred and fifty one billion dollars.
Speaker 1 (13:21):
Spare one or two for us here at Fear and Greed.
Speaker 2 (13:24):
Would love it. Oracle's been a key winner as investors
have piled into artificial intelligence stocks. The company's shares have
almost tripled since chat GPT was released to the public
in November twenty twenty two, but the big rises have
come in the past three weeks. It's actually almost doubled
its share price in the past three weeks. Wow, Oracle
it shares jump yesterday. Our news at the US government
will allow chip makers, including Nvidia and Advanced micro Devices
(13:46):
to export some semiconductors to China, reversing Biden era restrictions
that pushed Ellison's ahead of Zuckerberg on the Bloomberg's Wealth Index,
So he's now number two at the Ripe. I was
going to say the ripe old age of eighty and
that's bit rough at the right page of atim Elon
Musk is still the world's richest person. According to Bloomberg.
He's worth three hundred and fifty eight billion US dollars.
(14:09):
So what's that about? Fifty percent more than Larry Ellison.
Just asn't aside, the news on the chips being exported
to China pushed up Nvidia's share price. It's now worth
four point two trillion dollars. It's actually about a third
bigger than Apple.
Speaker 1 (14:25):
That's incredible, an incredible run. And Sean, I've seen you've
put a table in the newsletter this morning with the
billionaires the top twelve.
Speaker 2 (14:34):
So twelve and Jensen Huang from Nvidia makes a foray
into the top twelve there on the back of Nvidia's
share price. But if you want to see it, yeah
you should. You really must sign up absolutely fearing Greed
newsletter gottafaranderk Greed dot com dot au. Get the newsletter
every morning. You will be a step ahead of your neighbor,
(14:56):
your client if you read that newsletter. That's my promise.
Can't say guaranteed, promise, Sean.
Speaker 1 (15:02):
Immediately after the show, we want everyone to stay listening
for your chat with Adriano di Pietro, who's the CEO
of AMSL Eero. Now, Sean, when he came to the studio,
I thought a new James Bond had walked into the room.
Speaker 2 (15:16):
It's very very good looking man.
Speaker 1 (15:17):
Isn't fit f R A very interesting company.
Speaker 2 (15:21):
The company is a I mean, don't.
Speaker 1 (15:26):
Tell it all, just tease it a bit.
Speaker 2 (15:28):
So basically I sort of said flying cars sort of
and they're not. I mean they're they're air vehicles, battery operated,
sort of, very tiny helicopters almost they say, think drone,
but could harry five hundred kg payload which includes people,
And by twenty thirty he expects them to be seriously
(15:51):
flying around the skies of Australia. Really fascinating. Chat to
him about what they're doing.
Speaker 1 (15:56):
Brilliant. That's up next in the Fear and Greed Playlist
on your podcast platform for at fiomgre dot com dot au.
Thank you, Sean, Thank you Adam. It's Thursday, the seventeenth
of July twenty twenty five. Make sure you're following the podcast.
Join us online on LinkedIn, Instagram, x TikTok and Facebook
and please have a great day
Welcome to Fear and Greed business news you can use today.
Prime Minister Anthony Albanesi characterizes talks with China's leaders as
constructive and highlights the respect that Beijing is showing Australia.
The local share market records its worst day since May,
and National Australian Bank CEO Andrew Irvine is under fire
for his management style and drinking at client events. Plus
(00:29):
Rio Tinto gets a new boss, and Oracles Larry Ellison
becomes the world's second richest person. It's Thursday, the seventeenth
of July twenty twenty five. I'm Adam Lang and good morning,
Sean Ailmer.
Speaker 2 (00:40):
Good morning, Adam, Sean.
Speaker 1 (00:42):
The main story this morning. Prime Minister Anthony Albanesi says
the talks he has held with China's leadership have been
quote unquote really constructive, and the treatment he is receiving
is a sign of respect.
Speaker 2 (00:54):
Really constructive. A words mith, our Prime minister, no doubt
as a lyricist. He is in China for a six
day visit, and perhaps the most notable sign of respect,
as Albanizi put it, is that Premier Jijing Ping spent
two hours with him talking through the two countries' policies.
The Prime Minister had defended Australia's case by case assessment
of foreign investment into Australia. Now, China's Premier Lie Kwang
(01:18):
had complained that businesses were being treated unfairly because of
foreign investment restrictions. Albanesi said that the Darwin Port sale
had not come up in discussions, but it's fairly clear
that Li Kwang was talking about that, not that it
was mentioned. Albanzi reiterated that the government continues to support
a one China policy and by definition it doesn't support
(01:39):
any unilateral action on Taiwan. When asked about the business
roundtable held by Albanesi in Shanghai on Tuesday, he said
it came up with practical initiatives to aid the decarbonization
of China's steel industry.
Speaker 1 (01:52):
Shown beyond the serious business of international relations. Albanesi had
some time to stroll the Great Wall of China alongside
his fiance Joe Hayden, and he thanked the band the
previous Night's Dinner for playing Midnight Oil and Paul Kelly songs.
Speaker 2 (02:05):
And powder Finger and a bunch of others.
Speaker 1 (02:08):
Good band.
Speaker 2 (02:09):
The Prime Minister also paid homage to Goff Whitlam, who
visited China in nineteen seventy one as leader of the
Labour Party while in opposition. The next year, after being
elected Prime Minister, Whitlam recognized the People's Republic of China
in the way to the trade relationship we have today,
Albanizi said, Whitlam expanded Australia's horizons. He said the State
dinner on Tuesday night was a wonderful event. He think
(02:30):
thanked the band for learning and playing Paul Kelly's to
Her Door, Midnight, Owl's Power and the Passion and a
few others. I can see your smile here. Whenever it
comes to Australian music. You are a happy man.
Speaker 1 (02:43):
Well. I was wondering if the Prime Minister were his
radio Birdman t shirt if they honored it with the song.
Speaker 2 (02:48):
Possibly not. He had his rabbit O's cap on all
day yesterday, though.
Speaker 1 (02:52):
Very local sean to the local share market and the
good news on that local share market did not last long,
with the S and P ASX two hundred yesterday having
its worst one day loss since May, and that was
on the back of inflation fears in the USA.
Speaker 2 (03:06):
You win some, you lose, so quickly Yes and BISX
two hundred closed down to zero point eight percent two
eight thousand, five hundred and sixty two points. With the
financial struggling most that includes the big banks. National Australian
Bank was off three percent more on that in a moment,
Westpac was down one point six percent. Commonwealth Bank was
off more than one percent. The miners started lover, but
by the clothes BHP was down in line with the market,
(03:30):
but Rio and Fortescue Metals actually outperformed the market. The
textocs were the best of the lot, broadly speaking, including
Promedicus Zero and Aria Group gold Digger. Neumont fell six
percent after it sold its stakes in t North American
Mines and its CFO resigned. The drop on the ASX
followed a nine percent full on Wall Street the previous
(03:51):
night for the duelistic company Evolution Mining, also a goal company,
fell two percent, even though it reported significantly high cash
generation during the last six months, and when least drop
two percent after it announced plans to develop a two
and a half billion dollar luxury residential tower in Sydney, Sean.
Speaker 1 (04:06):
The CEO of National Australia Bank, Andrew Irvine, is under
scrutiny for his management style and drinking at client events,
with media reports saying investors have raised the issue with
the bank's board, so the.
Speaker 2 (04:17):
Bank's chairman, Phil Chronicken continues to support mister Irvine, according
to a National Australia Bank spokesperson, The AFR stories say
at least two large investors have questioned Irvine's behavior after
a lunch in Sydney last month. There's also disquiet about
the loss of National Australia Bank's Chief financial officer Nathan
Goonan in March. Now, I have no idea about the
(04:39):
racity of the story. I'm hesitant even to talk about it,
to be perfectly honest, but it's coming from a reputable
third party, which is the Financial Review. It's also in
the public realm now and the bank may well have
to do something more about it. So it was the
worst performing bank stock yesterday, dropping more than three percent
(05:00):
on the back of this story. So once again we
are not saying, you know, it's not my story. This
comes from a third party source, but it is actually
making a difference to its share price.
Speaker 1 (05:11):
Yeah, it's in the public domain. We'll be back in
a moment with the rest of the day's business news
Sean Rio Tinto has appointed its head of iron ore,
Simon Trott as the company's next chief executive, and he
will be busy with the global minus first half iron
ore exports falling to their lowest level in a decade.
Speaker 2 (05:34):
Trot will replace jakeb staus Home next month, who stepped
down in May, reportedly following strains between him and the board.
Rio has four main pillars, iron ore, copper, aluminum, and lithium.
Notwithstanding yesterday's production report for first half year, iron ore
really is the business that's performed best. The reason for
the week numbers last half year were four big storms
(05:57):
cyclone Tallia, Cyclone, cyclone Azelia and the well named Cyclone.
Sean correct, it was particularly strong that one well headstrong,
perhaps the bit of putting it. Investors are hoping trot
can shift his operational focus in the iron ore business
to other parts of the rear. The critics are saying
(06:19):
he's not a visionary, but what the what's the opposite
to critics quarters Yeah, advocaters, the advocates. The advocates are
like the fact that he can actually run a business.
The fifty year old was born in the West Australian
farming town of You're going to have to pronounce this
one Wickipen, southeast of Perth. Trot spent more than twenty
(06:41):
years at RIO, and before running the iron Ore division,
was the company's chief commercial officer. Rio's share price was
flat yesterday's down about six percent over the past year,
reflecting commodity prices more than anything Seawan.
Speaker 1 (06:53):
The Council of Financial Regulators, that very good named group
wants a new power for federal government or regulated to
step in and oversee cash in the economy if the
last remaining transport service, armor Guard collapses.
Speaker 2 (07:06):
The big yeuses of cash have been working with the
Reserve Bank and others to ensure cash continues to be
transported around the country. There are still some big uses
of cash. The problem is that there's not enough big
uses of cash and so it's almost uneconomic to transport
around the country. Commonwealth Bank, Westpac, National Australia Bank and
AMS Ed Colson, Woolies, Bunnings and Australia Posts all agree
(07:30):
to inject twenty five million dollars to keep Armor Guard
operating until the end of the year. We are kind
of now deliberating what comes next. The Council of Financial
Regulators is proposing an overhaul of how cash is managed
and distributed to give regulators much greater powers over crash
distribution services.
Speaker 1 (07:48):
It's a sign of generational change, isn't it that cash
is on this kind of life support commercial speak.
Speaker 2 (07:53):
So I'm trying to remember the numbers. I think was
one point five million people use cash for eighty percent
of their purchases, so there's still a lot of people. Yeah.
Speaker 1 (08:04):
Sean ken Henry, former Boss of Treasury and former chair
of National Australia Bank and the writer of the very
good twenty ten tax reform white Paper, which remains the
blueprint for change, says fixing environmental laws is more important
than tax when it comes to improving productivity.
Speaker 2 (08:20):
This has got Adam Lange all over this tax reform productivity.
Speaking at the National Press Club in Canberray yesterday, mister
Henry said the country's productivity challenge faces no greater imperative
than overhauling the Environment Protection and Biodiversity Conservation Act. Henry,
who's also chair of the Australian Clone and Biodiversity Foundation,
(08:41):
says new minds and processing plants for critical minerals, housing
and associated roads and infrastructure, as well as soul and
wind farms, and the requisite thousands of kilometers of transition
lines can't be loaded onto the broken EPBC. So the
Environment Protection Biodiversity Conservation Acts, assessment processes, its approval processes,
(09:02):
it's not fit for purpose. And so what he says
is that that needs to be redone and we need
a high quality national law to replace it that sets
clear environmental standards for major projects. A strong national decision
maker basically cut the red tape to let this stuff happen.
He is not saying that we don't need to look
after the environment. It's quite the opposite. But he just
(09:25):
says it just needs to be fit for purpose if
we want to improve productivity.
Speaker 1 (09:29):
What a cracking insight for you. I'm loving this reform talk.
Seawan Local rare Earth miners outperformed yesterday after Apple did
a US five hundred million dollar deal with the only
US Rare Earth's minor MP Materials to purchase magnets from
the company.
Speaker 2 (09:48):
Okay, stay with me on this one. So rare Earth
magnets are used in iPhones. Okay, first thing you need
to know. Second thing you need to know Rare earths,
which are actually seventeen different chemical elements, hence the plural
and earth. They're not very rare, in fact, they're all
over the place, but they're really difficult to process. Now
China processes more than half of all rare earths. The
(10:10):
US wants to find its own sources. So this company
MP materials that has been very, very popular recently. We
had the Apple deal yesterday. Last week, the Pentagon invested
in the company. Its share price has doubled or almost
doubled in the past week. What's that mean for the
local rare earth players. Well, investors think that companies like
(10:33):
a Luca Resources and Linus for rare earth could get
some of the reflected limelight benefit, and so they're buying
them up. Luca and Linus's share prices are up nearly
twenty five percent in the last week, for example. We'll
wait and see what happens there sewn.
Speaker 1 (10:47):
In state politics, Tasmanians go to the polls this weekend,
with Labor leader Dean Winter up against the Premier Jeremy Rockcliffe,
and a hung parliament seems the most likely outcome.
Speaker 2 (10:57):
Pole suggests the Liberals will win, which means Rockcliffe stays
as premier but will be short of majority. Yesterday, the
two faced off in a televised debate hosted on Sky News.
Rockcliffe and Winter clashed over healthcare, the state's debt, and
the controversial efforts to build a new AFL stadium at
mcquarie Point. Meanwhile, in New South Wales, independent MP and
former leader of Federal Labor Mark Latham is under fire
(11:19):
over allegations of threatening and coercive behavior from his former partner,
allegations he denies. Natalie Matthews made the allegations in an
application for an apprehended violence order against him. Latham dismissed
them as preposterous and will contest them in court.
Speaker 1 (11:34):
Sean in International News, US President Donald Trump says he
will impose a tariff on pharmaceuticals by the end of
the month before ramping it up over a year or so.
Speaker 2 (11:44):
He said the tariff will be low to begin with
to give the pharmaceutical companies time to relocate into the US. Then,
I quote, there are two ways you do it. You
make money or you have them move here so they
don't have to pay the tariff. Those are the two
ways the pharmaceutical companies are moving back to America where
they would be. Trump also said he had reached a
deal with Indonesia where that country will pay a nineteen
(12:05):
percent tariff, and a deal with Vietnam where it will
pay twenty percent, down from its initial forty six percent
impost Sean.
Speaker 1 (12:12):
Speaking of the US, inflation there rose last month to
its highest level since February as the impact of tariff
started to push up consumer prices.
Speaker 2 (12:20):
Really interesting significantly, the price rises came mostly in products
from overseas starting to be hit by the tariffs, so furniture, clothing,
large appliances. While it's only one month's reading, economists said
the outlook for inflation has certainly deteriorated. That means the
outlook is likely for higher price rises than that hoped.
Donald Trump's been very critical of FED chaireds your own
(12:42):
power for not cutting US interest rates. Powell has always
said he just wants to hold back and see what
happens as a result of tariff's before he does anything.
The data yesterday will stiffen the Fed's op opposition to
lower rates. Notwithstanding the figures, Trump's on social media called
on the FED to cut rates.
Speaker 1 (13:01):
Sean Larry Ellison is the world's second wealthiest person for
the first time ever, and this is according to the
Bloomberg Billionaires Index. As a rally in Oracle's share price
pushes his net worth to US two one hundred and
fifty one billion dollars, and in doing so, overtaking metaboss
mark Zuckerberg staggering number.
Speaker 2 (13:19):
Five hundred and fifty one billion dollars.
Speaker 1 (13:21):
Spare one or two for us here at Fear and Greed.
Speaker 2 (13:24):
Would love it. Oracle's been a key winner as investors
have piled into artificial intelligence stocks. The company's shares have
almost tripled since chat GPT was released to the public
in November twenty twenty two, but the big rises have
come in the past three weeks. It's actually almost doubled
its share price in the past three weeks. Wow, Oracle
it shares jump yesterday. Our news at the US government
will allow chip makers, including Nvidia and Advanced micro Devices
(13:46):
to export some semiconductors to China, reversing Biden era restrictions
that pushed Ellison's ahead of Zuckerberg on the Bloomberg's Wealth Index,
So he's now number two at the Ripe. I was
going to say the ripe old age of eighty and
that's bit rough at the right page of atim Elon
Musk is still the world's richest person. According to Bloomberg.
He's worth three hundred and fifty eight billion US dollars.
(14:09):
So what's that about? Fifty percent more than Larry Ellison.
Just asn't aside, the news on the chips being exported
to China pushed up Nvidia's share price. It's now worth
four point two trillion dollars. It's actually about a third
bigger than Apple.
Speaker 1 (14:25):
That's incredible, an incredible run. And Sean, I've seen you've
put a table in the newsletter this morning with the
billionaires the top twelve.
Speaker 2 (14:34):
So twelve and Jensen Huang from Nvidia makes a foray
into the top twelve there on the back of Nvidia's
share price. But if you want to see it, yeah
you should. You really must sign up absolutely fearing Greed
newsletter gottafaranderk Greed dot com dot au. Get the newsletter
every morning. You will be a step ahead of your neighbor,
(14:56):
your client if you read that newsletter. That's my promise.
Can't say guaranteed, promise, Sean.
Speaker 1 (15:02):
Immediately after the show, we want everyone to stay listening
for your chat with Adriano di Pietro, who's the CEO
of AMSL Eero. Now, Sean, when he came to the studio,
I thought a new James Bond had walked into the room.
Speaker 2 (15:16):
It's very very good looking man.
Speaker 1 (15:17):
Isn't fit f R A very interesting company.
Speaker 2 (15:21):
The company is a I mean, don't.
Speaker 1 (15:26):
Tell it all, just tease it a bit.
Speaker 2 (15:28):
So basically I sort of said flying cars sort of
and they're not. I mean they're they're air vehicles, battery operated,
sort of, very tiny helicopters almost they say, think drone,
but could harry five hundred kg payload which includes people,
And by twenty thirty he expects them to be seriously
(15:51):
flying around the skies of Australia. Really fascinating. Chat to
him about what they're doing.
Speaker 1 (15:56):
Brilliant. That's up next in the Fear and Greed Playlist
on your podcast platform for at fiomgre dot com dot au.
Thank you, Sean, Thank you Adam. It's Thursday, the seventeenth
of July twenty twenty five. Make sure you're following the podcast.
Join us online on LinkedIn, Instagram, x TikTok and Facebook
and please have a great day
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