September 2, 2025 • 16 mins
Wednesday 3 September 2025
The federal government tackles rising unease over immigration
And more, including:
- Consumer confidence jumps
- Nestle fires its chief executive over a workplace romance
- Two-thirds of Australians say they’d prioritise work-life balance over higher pay.
- Elon Musk extends his lead as the world’s 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.
The federal government tackles rising unease over immigration, consumer confidence
jumps and nesle fires its chief executive. Over all workplace
romance plus two thirds of Australians say they'd prioritize work
life balance over higher pay, and Elon Musk extends his
lead as the world's richest person. It is Wednesday, the
(00:28):
third of September twenty twenty five. Are Michael Thompson and
Good Morning, Natalie McDonald.
Speaker 2 (00:33):
Good morning, Michael.
Speaker 1 (00:34):
Something for everybody this morning, Natalie. The main story today.
One hundred and eighty five thousand permanent visas will be
made available to migrants in this financial year. That is
a figure that's unchanged from last year, with the government
forced to clarify the number yesterday as it deals with
rising voter unease over migration.
Speaker 2 (00:53):
Skilled workers will make up the bulk, while family visa
stay around fifty thousand, leaving a backlog of nearly one
hundred thousand spouses and children who are waiting to come
and join someone who's already in the country. Homer Fairs
Minister Tony Burke says the numbers follow state consultations and
continue to prioritize skills. Labor has held permanent migration steady
(01:13):
throughout its term, despite political debate and of course those
public protests. Experts warn family visa backlogs are growing, and
reforms and needed to prevent frustration for couples and families
who are waiting years to be reunited. But when we
talk about net overseas migration, that's the balance of arrivals
and departures. The most recent confirmed figure is about three
(01:34):
hundred and forty one thousand, which includes foreign students and
temporary workers, and that number is close to pre pandemic levels,
but it's expected to fall to around two hundred and
fifty five thousand this year.
Speaker 1 (01:46):
Now, the government was really forced to come out with
these numbers yesterday to clarify what they were doing because
there has been this rising an ease. On the weekend
we saw anti immigration protests across capital cities, regional areas
to right around the country. Really, Prime Minister Anthony Alberinezi
addressed the Labor Caucus yesterday where he warned against demonizing
(02:08):
everybody who took part in those protests, and he emphasized
the importance of differentiating between people who had legitimate concerns
these things about employment and housing and things like that,
those concerns around migration levels, and the extremists who also
took part in the rallies.
Speaker 2 (02:27):
He was quoted as saying not everyone there was associated
with the neo Nazis. He then went on to tell
Caucus we have to make sure we give people space
to move away and to not push them further down
that rabbit hole. A lot of these fears are being
reinforced online and we have challenges with polarization. In a
TV interview, Health Minister Mark Butler acknowledged there is real
(02:47):
tension between recognizing that there are real pressures on our
housing system and other parts of the economy while also
recognizing we're really struggling to get the work as we
need to deliver the hospital services, the age care services
and build the houses that we need. The housing market,
of course, is one of the real pressure points here
as prices rise and supply fails to keep up with demand.
(03:07):
And on that point, Master Builders Australia says the nation
needs expedited visa pathways for foreign trade workers, similar to
what exists in Canada, the UK and New Zealand after
separate data release last week highlighted a shortfall in tradees.
Speaker 1 (03:22):
Yeah, a big story, and it is becoming a very
political one, very very quickly, as we saw on the
weekend with those protests moving away from politics. Let's turn
to markets now, how did things go yesterday?
Speaker 2 (03:34):
Well, it was a third straight day of falls, the
local boars moving below eighty nine hundred for the first
time in almost weeks of eventually settling at that level.
Gold hit a record high of three thy five hundred
and eight US dollars an ounce, Silver climbing to its
highest since twenty eleven, once again benefiting the likes of
Romilius Resources up two point seven percent, Perseus Mining up
(03:55):
two point two and Neumont byo point six percent. Financials
were the strongest sector gan across the Big four, but
weight coming from the lakes of West farm As, Wolworst,
Bendio Bank and Santos which all went ex dividend and
a quick mention for CSL, it logged its eighth consecutive
session of losses. That's taking the stock back to twenty
nineteen levels.
Speaker 1 (04:14):
Gold, the gold price that is extraordinary and as you say,
it hit three thousand five hundred and eight US dollars
an ounce. It did then drop back below the three thousand,
five hundred mark, but the fact that it is still
just climbing and setting these records. After the show got
an episode of Fear and Greed Q and A where
you are speaking with Evan Lucas, who is an economic futurist.
(04:35):
He's the host of Money News on nine Radio, and
he basically explains why in twenty twenty five we are
still going to gold as the safe haven asset when
there's so many other assets out there, why gold still
has that value for investors and those forces that are
pushing that price higher. And it is not just Donald
(04:55):
Trump and what he's been posting on truth Social there
are other things at place here. It is a great
chat now, Natalie, because it is Wednesday, it is time
for business by Numbers. The top three numbers to know
for the week brought to you by zero that's zero
dot com slash au three numbers. The first one is
the one I just mentioned, three five hundred US dollars.
That is the milestone that gold did pass. The price
(05:17):
of gold passed that yesterday. The second number is the
other one that we've just been talking about in some detail.
One hundred and eighty five thousand. That is the number
of permanent visas that will be available in twenty twenty five,
twenty six. The third number. You may do this one
if you like, because we haven't actually got to it yet.
Speaker 2 (05:35):
We haven't got to this story still to come. Consider
this a little teaser. Four hundred and fifteen billion dollars
that is elon Masks net.
Speaker 1 (05:42):
Worth and that has actually grown. It is just extraordinary
the wealth that is in that story. It's coming up
a bit later on. We'll be back in a moment
with the rest of the day's business news. Natalie. Consumer
confidence has picked up a little this week. We are
(06:03):
getting happier, it seems, are more optimistic. The A and
Z Roy Morgan Index jumped two points to eighty eight.
That's nearly five points stronger than the same time last year.
Speaker 2 (06:13):
And the big driver here is that Australians are feeling
more positive about buying those big ticket items. More than
one in four say that now is a good time
to splash out on major household purchases. That's the best
result in a month, but it's not all smooth sailing only.
In fact, less than a quarter of people think they're
better off financially than a year ago. Well nearly half
(06:33):
say that they're actually worse off.
Speaker 1 (06:35):
Of course, I suppose interest rate cuts having an effect
at last, but still there are a lot of pressures
on household budgets at the same time. Right, there are
signs of that consumer pickup. We see this in company results. Yes, sir,
we had KFC operator Colin's Foods saying that ossies are
spending more. Okay, same store sales up two point three
(06:56):
percent since April. That's a fairly significant increase.
Speaker 2 (07:00):
It's prompted by cheaper chicken and falling interest rates. As
you mentioned, they're giving wallets a bit of breathing room
and it's showing on the tills. Even with tough competition
from the likes of McDonald's Gismey Gomez, KFC's brand is
holding pretty strong. And let's say it's another sign that
Australian shoppers are back in spending mode. So supporting that
consumer confidence read that we've had come through. Colin's food
(07:23):
is closing its loss making Taco Bell outlets to focus
on its co operations in Australia and its other success
market Germany.
Speaker 1 (07:30):
Let's talk about wine. I don't think you and I
have talked about wine on this show. Are you offering no?
Not at this hour of the morning. Australia's wine industry
has last hundreds of growers since China's tariff's devastated exports.
According to a new Wine Australia report, we knew it
was doing damage at the time, and now we know
(07:50):
just how much damage.
Speaker 2 (07:51):
So grower numbers fell thirteen percent from six two hundred
and fifty one in twenty eighteen to about five and
a half thousand last year, though vineyard area remains stable
due to consolidation. Independent MP Sarah Game will table legislation
this week requiring wineries to release minimum indicative great prices
by the end of September. That is months earlier than
(08:13):
the current December arrangement and that gives growers more certainty
and time to plan. The move has been backed by
industry groups who say earlier pricing could prevent growers from
investing in crops that won't cover production costs. Despite its struggles,
though the wine sector still contributes fifty one point three
billion dollars annually to the economy and supports more than
(08:34):
two hundred thousand jobs. Last year, there were seven point
five million visits to wineries from both domestic and international travelers.
Speaker 1 (08:42):
From wine to botox. Australia's booming cosmetic injectables industry is
facing a shakeup. Tough new rules now in place.
Speaker 2 (08:51):
Anyone offering treatments like botox fillers threadlifts Michael junail a threadlift.
Speaker 1 (08:56):
Have no idea what a threadlift is? Do you know?
Speaker 2 (08:59):
Well, we'll talk. We'll talk about it after. We'll now
need more training, including emergency response book skills and a
deeper knowledge of facial anatomy. Nurses must clock at least
a year of general practice before moving into cosmetics, while
enrolled nurses need extra experience in areas like dermatology or plastics.
The crackdown, though, and this is where it gets really interesting,
(09:21):
is also hitting advertising. So no more of those heavily
edited before and after photos, no influencer height without disclaimers,
and clinics must clearly spell out the risks. Health regulators
say it's about protecting patients who may underestimate the dangers
of procedures which are often seen as as simple beauty fixes.
Speaker 1 (09:40):
A threadlift involves getting basically stitches to help lift the
skin up. Yeah that sounds horrific.
Speaker 2 (09:49):
Well this is why they need extra training.
Speaker 1 (09:51):
Okay, all right, Well I support this because that really matters.
I suspect two thirds of Australians Natalie say they would
prioritize work life balance over higher pay but rising living
costs of forcing Australians to rethink the trade off between
money and lifestyle. This is a new report from SIKH.
Speaker 2 (10:10):
Only a third of workers are feeling financially secure, and
while sixty five percent of workers wouldn't take a pay
cup for more work life balance, they would be willing
to give up some flexibility for a pay rise, including
taking on a greater workload or more hours.
Speaker 1 (10:25):
I hang on that essentially means they'd be willing to
do more work for more pay, right, because that to
me feels almost logical.
Speaker 2 (10:33):
And how are you are saving up for their own threadlift?
Speaker 1 (10:36):
These things are pricey apparently so.
Speaker 2 (10:39):
But amid ongoing tensions around work from home, and we
have been talking about it pretty much NonStop the last
couple of weeks, almost one in four of those who
can work from home wouldn't return to the office full
time even if more money was offered, and that's Gen
X and baby boomers actually most against that return. It
comes as separate research from Hatch Show's career development has
(11:00):
overtaken salaries the top priority for GenZ and millennials. So
what I'm getting from this is actually that no one
knows what they want. They would just like to continue
being paid. Please love that.
Speaker 1 (11:12):
That's the take home message.
Speaker 2 (11:13):
That's my analysis, Okay.
Speaker 1 (11:16):
I like that now. Sydney's CBD has emerged as Australia's
scam capital, topping Westpac's list of postcodes with the highest
scam reports in the past year.
Speaker 2 (11:26):
So it's perhaps no surprise that densely populated areas would
drive higher numbers of scams. Scam rates are actually proportionally
highest in Wa and Queensland. Westpac says that scammers are
increasingly targeting businesses through invoice and email compromise schemes, alongside
fake investments in personation, romance and online shopping scams. Overall
(11:48):
losses have fallen in the past year, but the personal
and financial toll remains fairly severe. The bank has shared
some tips to help protect yourself, such as don't click
on links or open attachments within emails, texts, or social
media messages from people you don't know. Don't send money
or gift cards to someone that you have never met
in person.
Speaker 1 (12:07):
It is getting so convincing, though, is It is like
you think, oh, I'd never do that, I would never
click on a link. But honestly, they are so deceptive.
There have been a few lately where I've actually had
to triple check them, going, I don't think this is real.
Speaker 2 (12:23):
I've ignored stuff from my bank thinking it was a
scam and it wasn't. But you do. You have more
and more people who are respected professionals in their field,
who you would think should know better, and they get
caught out.
Speaker 1 (12:37):
Yeah. Unfortunately, we are seeing a lot of the banks
are actually now using or starting to use AI in
basically detecting scams and preventing scams, and so hopefully the
banks can keep ahead of the scammers who are probably
also doing the same thing at the other side. Right,
So turning to international news, now, how about this one?
Global food giant Nesle has sacked its chief executive after
(13:01):
he failed to disclose a romantic relationship with a subordinate
in a clear breach of the company's code of conduct.
Speaker 2 (13:08):
Lauren FREKXA spent four decades at NESLE and actually only
stepped into the top job last year. He will now
be replaced by a longtime insider, Philip Nevradil, who was
credited with an inclusive leadership style and a strong performance record.
This scandal echoes a pretty similar case at BP a
couple of years ago. Back in twenty twenty three, when
its CEO was forced out for failing to reveal relationships
(13:29):
with colleagues, we.
Speaker 1 (13:30):
Mentioned Elon Musk, who teased us with Elon Musk before.
He has increased his lead now as the world's richest person,
topping Forbes's September twenty twenty five billionaire list with a
fortune of four hundred and fifteen billion US dollars.
Speaker 2 (13:49):
Imagine how many threadlifts you could afford for that?
Speaker 1 (13:52):
I reckon many loads, many many.
Speaker 2 (13:55):
So nine out of ten of the richest people in
the world are Americans. The one non usit Saint Francis
bernardou CEO of Luxury Goods Group LVMH. All of the
top ten riches people as of the first of September
are men. Each of them are worth one hundred and
fifty billion dollars or more. Larry Ellison remains the world's
second wealthiest person for the third month in a row,
(14:16):
with some of the usual names like Mark Zuckerberg, Jeff Bezos,
and Warren Buffett. Also featuring one noticeable omission is Bill Gates,
who actually dropped out of the top ten richest in
October of last year following some new information about a
contraction in his fortune.
Speaker 1 (14:31):
One last one, just a quick one. Serena Williams tennis player,
legendary tennis player, has become the latest celebrity to promote
weight loss drugs like a Zempek, which is sparking fresh
debate over diet culture.
Speaker 2 (14:44):
The tennis legend has taken on a new role as
global ambassador for Row. It's a telehealth company that's best
known for its weight loss treatments, including the increasingly popular
GLP one injections. More intriguing still on this so Williams's husband,
who's the Reddick co founder, is an early investor in
Row and board member since twenty eighteen, So that has
sparked some commentary around whether or not there's actually a
(15:06):
conflict of interest here. Williams had said that she wanted
to be open about her use of zep bound to
reduce stigma. But the website campaign it shows images of
Williams posing with an injection file press to her armor
and copy that reads Serena's en row. Are you next,
drawing a lot of accusations that the rise of GLP
one drugs marketed by athletes and influencers is fueling diet
(15:29):
culture and fuel full flight and risks normalizing medication as
a bit of a quick fix.
Speaker 1 (15:34):
Okay, Right up next is the Fear and Greed Q
and a interview today with Evan Lucas all about gold.
It is a great chat as coming up next in
the Fear and Grade playlist on your podcast platform or
at Fearandgreed dot com dot au, which is also where
you sign up for our free daily newsletter and you
get all the news you need to know in your
inbox by six am every weekday. Thank you Natalie, Thank
(15:54):
you Michael. It is Wednesday, the third of September twenty
twenty five. Make sure you're following the PODCAS and please
join us online on LinkedIn, Instagram, x TikTok and Facebook.
I'm Michael Thompson and that was fhear and greed, have
a great day,
Welcome to Fear and Greed business news you can use today.
The federal government tackles rising unease over immigration, consumer confidence
jumps and nesle fires its chief executive. Over all workplace
romance plus two thirds of Australians say they'd prioritize work
life balance over higher pay, and Elon Musk extends his
lead as the world's richest person. It is Wednesday, the
(00:28):
third of September twenty twenty five. Are Michael Thompson and
Good Morning, Natalie McDonald.
Speaker 2 (00:33):
Good morning, Michael.
Speaker 1 (00:34):
Something for everybody this morning, Natalie. The main story today.
One hundred and eighty five thousand permanent visas will be
made available to migrants in this financial year. That is
a figure that's unchanged from last year, with the government
forced to clarify the number yesterday as it deals with
rising voter unease over migration.
Speaker 2 (00:53):
Skilled workers will make up the bulk, while family visa
stay around fifty thousand, leaving a backlog of nearly one
hundred thousand spouses and children who are waiting to come
and join someone who's already in the country. Homer Fairs
Minister Tony Burke says the numbers follow state consultations and
continue to prioritize skills. Labor has held permanent migration steady
(01:13):
throughout its term, despite political debate and of course those
public protests. Experts warn family visa backlogs are growing, and
reforms and needed to prevent frustration for couples and families
who are waiting years to be reunited. But when we
talk about net overseas migration, that's the balance of arrivals
and departures. The most recent confirmed figure is about three
(01:34):
hundred and forty one thousand, which includes foreign students and
temporary workers, and that number is close to pre pandemic levels,
but it's expected to fall to around two hundred and
fifty five thousand this year.
Speaker 1 (01:46):
Now, the government was really forced to come out with
these numbers yesterday to clarify what they were doing because
there has been this rising an ease. On the weekend
we saw anti immigration protests across capital cities, regional areas
to right around the country. Really, Prime Minister Anthony Alberinezi
addressed the Labor Caucus yesterday where he warned against demonizing
(02:08):
everybody who took part in those protests, and he emphasized
the importance of differentiating between people who had legitimate concerns
these things about employment and housing and things like that,
those concerns around migration levels, and the extremists who also
took part in the rallies.
Speaker 2 (02:27):
He was quoted as saying not everyone there was associated
with the neo Nazis. He then went on to tell
Caucus we have to make sure we give people space
to move away and to not push them further down
that rabbit hole. A lot of these fears are being
reinforced online and we have challenges with polarization. In a
TV interview, Health Minister Mark Butler acknowledged there is real
(02:47):
tension between recognizing that there are real pressures on our
housing system and other parts of the economy while also
recognizing we're really struggling to get the work as we
need to deliver the hospital services, the age care services
and build the houses that we need. The housing market,
of course, is one of the real pressure points here
as prices rise and supply fails to keep up with demand.
(03:07):
And on that point, Master Builders Australia says the nation
needs expedited visa pathways for foreign trade workers, similar to
what exists in Canada, the UK and New Zealand after
separate data release last week highlighted a shortfall in tradees.
Speaker 1 (03:22):
Yeah, a big story, and it is becoming a very
political one, very very quickly, as we saw on the
weekend with those protests moving away from politics. Let's turn
to markets now, how did things go yesterday?
Speaker 2 (03:34):
Well, it was a third straight day of falls, the
local boars moving below eighty nine hundred for the first
time in almost weeks of eventually settling at that level.
Gold hit a record high of three thy five hundred
and eight US dollars an ounce, Silver climbing to its
highest since twenty eleven, once again benefiting the likes of
Romilius Resources up two point seven percent, Perseus Mining up
(03:55):
two point two and Neumont byo point six percent. Financials
were the strongest sector gan across the Big four, but
weight coming from the lakes of West farm As, Wolworst,
Bendio Bank and Santos which all went ex dividend and
a quick mention for CSL, it logged its eighth consecutive
session of losses. That's taking the stock back to twenty
nineteen levels.
Speaker 1 (04:14):
Gold, the gold price that is extraordinary and as you say,
it hit three thousand five hundred and eight US dollars
an ounce. It did then drop back below the three thousand,
five hundred mark, but the fact that it is still
just climbing and setting these records. After the show got
an episode of Fear and Greed Q and A where
you are speaking with Evan Lucas, who is an economic futurist.
(04:35):
He's the host of Money News on nine Radio, and
he basically explains why in twenty twenty five we are
still going to gold as the safe haven asset when
there's so many other assets out there, why gold still
has that value for investors and those forces that are
pushing that price higher. And it is not just Donald
(04:55):
Trump and what he's been posting on truth Social there
are other things at place here. It is a great
chat now, Natalie, because it is Wednesday, it is time
for business by Numbers. The top three numbers to know
for the week brought to you by zero that's zero
dot com slash au three numbers. The first one is
the one I just mentioned, three five hundred US dollars.
That is the milestone that gold did pass. The price
(05:17):
of gold passed that yesterday. The second number is the
other one that we've just been talking about in some detail.
One hundred and eighty five thousand. That is the number
of permanent visas that will be available in twenty twenty five,
twenty six. The third number. You may do this one
if you like, because we haven't actually got to it yet.
Speaker 2 (05:35):
We haven't got to this story still to come. Consider
this a little teaser. Four hundred and fifteen billion dollars
that is elon Masks net.
Speaker 1 (05:42):
Worth and that has actually grown. It is just extraordinary
the wealth that is in that story. It's coming up
a bit later on. We'll be back in a moment
with the rest of the day's business news. Natalie. Consumer
confidence has picked up a little this week. We are
(06:03):
getting happier, it seems, are more optimistic. The A and
Z Roy Morgan Index jumped two points to eighty eight.
That's nearly five points stronger than the same time last year.
Speaker 2 (06:13):
And the big driver here is that Australians are feeling
more positive about buying those big ticket items. More than
one in four say that now is a good time
to splash out on major household purchases. That's the best
result in a month, but it's not all smooth sailing only.
In fact, less than a quarter of people think they're
better off financially than a year ago. Well nearly half
(06:33):
say that they're actually worse off.
Speaker 1 (06:35):
Of course, I suppose interest rate cuts having an effect
at last, but still there are a lot of pressures
on household budgets at the same time. Right, there are
signs of that consumer pickup. We see this in company results. Yes, sir,
we had KFC operator Colin's Foods saying that ossies are
spending more. Okay, same store sales up two point three
(06:56):
percent since April. That's a fairly significant increase.
Speaker 2 (07:00):
It's prompted by cheaper chicken and falling interest rates. As
you mentioned, they're giving wallets a bit of breathing room
and it's showing on the tills. Even with tough competition
from the likes of McDonald's Gismey Gomez, KFC's brand is
holding pretty strong. And let's say it's another sign that
Australian shoppers are back in spending mode. So supporting that
consumer confidence read that we've had come through. Colin's food
(07:23):
is closing its loss making Taco Bell outlets to focus
on its co operations in Australia and its other success
market Germany.
Speaker 1 (07:30):
Let's talk about wine. I don't think you and I
have talked about wine on this show. Are you offering no?
Not at this hour of the morning. Australia's wine industry
has last hundreds of growers since China's tariff's devastated exports.
According to a new Wine Australia report, we knew it
was doing damage at the time, and now we know
(07:50):
just how much damage.
Speaker 2 (07:51):
So grower numbers fell thirteen percent from six two hundred
and fifty one in twenty eighteen to about five and
a half thousand last year, though vineyard area remains stable
due to consolidation. Independent MP Sarah Game will table legislation
this week requiring wineries to release minimum indicative great prices
by the end of September. That is months earlier than
(08:13):
the current December arrangement and that gives growers more certainty
and time to plan. The move has been backed by
industry groups who say earlier pricing could prevent growers from
investing in crops that won't cover production costs. Despite its struggles,
though the wine sector still contributes fifty one point three
billion dollars annually to the economy and supports more than
(08:34):
two hundred thousand jobs. Last year, there were seven point
five million visits to wineries from both domestic and international travelers.
Speaker 1 (08:42):
From wine to botox. Australia's booming cosmetic injectables industry is
facing a shakeup. Tough new rules now in place.
Speaker 2 (08:51):
Anyone offering treatments like botox fillers threadlifts Michael junail a threadlift.
Speaker 1 (08:56):
Have no idea what a threadlift is? Do you know?
Speaker 2 (08:59):
Well, we'll talk. We'll talk about it after. We'll now
need more training, including emergency response book skills and a
deeper knowledge of facial anatomy. Nurses must clock at least
a year of general practice before moving into cosmetics, while
enrolled nurses need extra experience in areas like dermatology or plastics.
The crackdown, though, and this is where it gets really interesting,
(09:21):
is also hitting advertising. So no more of those heavily
edited before and after photos, no influencer height without disclaimers,
and clinics must clearly spell out the risks. Health regulators
say it's about protecting patients who may underestimate the dangers
of procedures which are often seen as as simple beauty fixes.
Speaker 1 (09:40):
A threadlift involves getting basically stitches to help lift the
skin up. Yeah that sounds horrific.
Speaker 2 (09:49):
Well this is why they need extra training.
Speaker 1 (09:51):
Okay, all right, Well I support this because that really matters.
I suspect two thirds of Australians Natalie say they would
prioritize work life balance over higher pay but rising living
costs of forcing Australians to rethink the trade off between
money and lifestyle. This is a new report from SIKH.
Speaker 2 (10:10):
Only a third of workers are feeling financially secure, and
while sixty five percent of workers wouldn't take a pay
cup for more work life balance, they would be willing
to give up some flexibility for a pay rise, including
taking on a greater workload or more hours.
Speaker 1 (10:25):
I hang on that essentially means they'd be willing to
do more work for more pay, right, because that to
me feels almost logical.
Speaker 2 (10:33):
And how are you are saving up for their own threadlift?
Speaker 1 (10:36):
These things are pricey apparently so.
Speaker 2 (10:39):
But amid ongoing tensions around work from home, and we
have been talking about it pretty much NonStop the last
couple of weeks, almost one in four of those who
can work from home wouldn't return to the office full
time even if more money was offered, and that's Gen
X and baby boomers actually most against that return. It
comes as separate research from Hatch Show's career development has
(11:00):
overtaken salaries the top priority for GenZ and millennials. So
what I'm getting from this is actually that no one
knows what they want. They would just like to continue
being paid. Please love that.
Speaker 1 (11:12):
That's the take home message.
Speaker 2 (11:13):
That's my analysis, Okay.
Speaker 1 (11:16):
I like that now. Sydney's CBD has emerged as Australia's
scam capital, topping Westpac's list of postcodes with the highest
scam reports in the past year.
Speaker 2 (11:26):
So it's perhaps no surprise that densely populated areas would
drive higher numbers of scams. Scam rates are actually proportionally
highest in Wa and Queensland. Westpac says that scammers are
increasingly targeting businesses through invoice and email compromise schemes, alongside
fake investments in personation, romance and online shopping scams. Overall
(11:48):
losses have fallen in the past year, but the personal
and financial toll remains fairly severe. The bank has shared
some tips to help protect yourself, such as don't click
on links or open attachments within emails, texts, or social
media messages from people you don't know. Don't send money
or gift cards to someone that you have never met
in person.
Speaker 1 (12:07):
It is getting so convincing, though, is It is like
you think, oh, I'd never do that, I would never
click on a link. But honestly, they are so deceptive.
There have been a few lately where I've actually had
to triple check them, going, I don't think this is real.
Speaker 2 (12:23):
I've ignored stuff from my bank thinking it was a
scam and it wasn't. But you do. You have more
and more people who are respected professionals in their field,
who you would think should know better, and they get
caught out.
Speaker 1 (12:37):
Yeah. Unfortunately, we are seeing a lot of the banks
are actually now using or starting to use AI in
basically detecting scams and preventing scams, and so hopefully the
banks can keep ahead of the scammers who are probably
also doing the same thing at the other side. Right,
So turning to international news, now, how about this one?
Global food giant Nesle has sacked its chief executive after
(13:01):
he failed to disclose a romantic relationship with a subordinate
in a clear breach of the company's code of conduct.
Speaker 2 (13:08):
Lauren FREKXA spent four decades at NESLE and actually only
stepped into the top job last year. He will now
be replaced by a longtime insider, Philip Nevradil, who was
credited with an inclusive leadership style and a strong performance record.
This scandal echoes a pretty similar case at BP a
couple of years ago. Back in twenty twenty three, when
its CEO was forced out for failing to reveal relationships
(13:29):
with colleagues, we.
Speaker 1 (13:30):
Mentioned Elon Musk, who teased us with Elon Musk before.
He has increased his lead now as the world's richest person,
topping Forbes's September twenty twenty five billionaire list with a
fortune of four hundred and fifteen billion US dollars.
Speaker 2 (13:49):
Imagine how many threadlifts you could afford for that?
Speaker 1 (13:52):
I reckon many loads, many many.
Speaker 2 (13:55):
So nine out of ten of the richest people in
the world are Americans. The one non usit Saint Francis
bernardou CEO of Luxury Goods Group LVMH. All of the
top ten riches people as of the first of September
are men. Each of them are worth one hundred and
fifty billion dollars or more. Larry Ellison remains the world's
second wealthiest person for the third month in a row,
(14:16):
with some of the usual names like Mark Zuckerberg, Jeff Bezos,
and Warren Buffett. Also featuring one noticeable omission is Bill Gates,
who actually dropped out of the top ten richest in
October of last year following some new information about a
contraction in his fortune.
Speaker 1 (14:31):
One last one, just a quick one. Serena Williams tennis player,
legendary tennis player, has become the latest celebrity to promote
weight loss drugs like a Zempek, which is sparking fresh
debate over diet culture.
Speaker 2 (14:44):
The tennis legend has taken on a new role as
global ambassador for Row. It's a telehealth company that's best
known for its weight loss treatments, including the increasingly popular
GLP one injections. More intriguing still on this so Williams's husband,
who's the Reddick co founder, is an early investor in
Row and board member since twenty eighteen, So that has
sparked some commentary around whether or not there's actually a
(15:06):
conflict of interest here. Williams had said that she wanted
to be open about her use of zep bound to
reduce stigma. But the website campaign it shows images of
Williams posing with an injection file press to her armor
and copy that reads Serena's en row. Are you next,
drawing a lot of accusations that the rise of GLP
one drugs marketed by athletes and influencers is fueling diet
(15:29):
culture and fuel full flight and risks normalizing medication as
a bit of a quick fix.
Speaker 1 (15:34):
Okay, Right up next is the Fear and Greed Q
and a interview today with Evan Lucas all about gold.
It is a great chat as coming up next in
the Fear and Grade playlist on your podcast platform or
at Fearandgreed dot com dot au, which is also where
you sign up for our free daily newsletter and you
get all the news you need to know in your
inbox by six am every weekday. Thank you Natalie, Thank
(15:54):
you Michael. It is Wednesday, the third of September twenty
twenty five. Make sure you're following the PODCAS and please
join us online on LinkedIn, Instagram, x TikTok and Facebook.
I'm Michael Thompson and that was fhear and greed, have
a great day,
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